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By Wen-Chieh Cheng

Two bored piles with base grouting are loaded axially and the results are used to compare with numerical analyses. One compressive pile with a diameter of 2 meters is drilled through clay deposit and into bedrock to a depth of 13.7 meters. One tensile pile with a diameter of 1.5 meters is drilled through the same clay deposit and into bedrock to a depth of 17 meters. Both piles are installed with monitoring system such as rebar strain meters, concrete strain gauges and extensometers. The monitored data during pile load test are used to obtain average frictional stress (t) a displacement (z) curve, pile tip bearing (q) as well as pile head load (p) and a displacement (s) curve. FLAC3D is used to simulate the pile loading and base grouting. The soil and bedrock are modeled with Mohr-Coulomb. The parameters of the constitutive law are established from soil biaxial tests and rock bore hole deformation tests. The pile is assumed as an elastic body. The interface element is used to simulate the pile/soil interface and pile/rock interface. The numerical results are compared with the pile load test in terms of t-z curve, q-z curve and p-s curve. Finally, the pile base grouting is simulated and the uplift is analyzed. The result from this study is promising and the numerical modeling is successful.

Jan 1, 2006

By Fang Wu

The paper designs an extraction flow for the total recovery of nickel and cobalt and removing magnesium simultaneously from the cadthodic materials of the spent hydrogen-nickel and cadmium-nickel batteries. The separation of Co, Ni and Mg though P507 extraction .The extraction equilibrium pH is 4.5~5.0, ßNi/Co is 140~180, and ß Ni/Mg is 20~25; nickel and magnesium are scrubbed in two steps, in which the equilibrium pH of nickel and magnesium scrubbing is controlled at 5.0±0.1 and 4.4±0.1 respectively. The stepwise scrubbing technique is adopted to remove 94.5% of magnesium and to recover 99.45% of nickel and 95.35% of cobalt. During the integrated extraction and precipitation process the total recovery fraction of nickel and cobalt are 99.99% and 99.95%, and the recovery fraction of magnesium is 94.02%.The recovered NiSO4 and CoSO4 solution are enriched and crystallized.

Jan 1, 2009

By Rhulani F. Maluleke, Francis W. Petersen, John H. Marsh, Johann de T. Steyl, Allan Nesbitt

"Pressure leaching of chalcopyrite and nickeliferrous pyrrotite at temperatures between 105 and 200 ºC has been proposed as a potentially viable route for the extraction of mineral elements from sulphide concentrates. In general, these concentrates contain iron, and the economic success of the processes is partially dependent on the choice of the environmentally acceptable iron-removal technique. One of the most widely used methods for the removal of iron from sulphate liquors is precipitation as hematite, goethite, or jarosite. The nature of the iron precipitate formed, dictates downstream dewatering and residue treatment and disposal options. However, a better understanding of iron precipitation under the defined process conditions would consequently be of benefit in process design and optimization.This study investigated the precipitation of iron in the autoclave at temperatures between 105 and 200 ºC. The effects of temperature, acid concentration, iron concentration, and the presence of other metal cations on the nature and composition of the precipitates were determined."

Jan 1, 2003

By Chris Sammon

The Block 75 portion of the City Creek redevelopment project in Salt Lake City required multiple shoring walls surrounding the 6 acre site constructed to depths ranging from sixty-five to ninety feet below original street grade. Shoring for the project was challenging due to site soils consisting of cobbles, sands and gravels, interlayered lakebed silty clay and fine sandy silt with incised stream deposits of silty/clayey sand and gravels combined with a high groundwater table. Moreover, several abutting structures each with a unique foundation system would be directly or indirectly supported by the shoring system. Three sections of interest are the shoring walls constructed at Main Street, Deseret Trust Building and Eagle Gate Tower. Main Street shoring extended to as much as sixty-five feet below street grade and utilized existing basement walls anchored in place in the upper zones with soil nail walls with pre-installed vertical elements for face stabilization below. Data are presented which illustrates the effect dewatering had on the settlement of the Main Street Shoring. The Deseret Trust Tower shoring supported a 12 story, historical masonry building. Site conditions dictated a separate design for the east side and the north side of the building allowing comparison of relative performance between these walls. Settlements of this structure were controlled by installing micropiles through the 90 year old structures spread footings. Shoring for the Eagle Gate Tower was to be constructed immediately adjacent to a mat supported 22 story high rise structure. This shoring system combined secant piles, ground anchors and incorporated existing abandoned-in-place pipe piles with infilling high pressure jet grouting to create a cutoff wall and eliminate the adverse impacts of dewatering below this sensitive foundation.

Jan 1, 2010

By K. J. R. Ford

"Significant advances in mining and metallurgical operations have occurred over the last two decades, to define ore bodies via geological mapping, mineralogical analyses, geostatistical models and resource reserve modeling. Metallurgical process measurement, controls and modeling have also significantly progressed, with advanced instrumentation, control software, data capture systems and simulation tools. This progress together with development of the science of geometallurgy has allowed geologists, mineralogists, miners and metallurgists to start working together to define geometallurgical ore units and link these to mine planning and projected metallurgical performance. However, application of full geometallurgical programs into existing mine-processing operations or into new “greenfield” projects has been slow. This is mainly due to higher costs, limited dedicated technical resources and little or no corporate leadership. Additionally, life-of-mine cash flow models, the “dollars”, have been largely driven by ore tonnage rates, pay-metal grades and fixed pay-metal percentage recoveries, with few or no geometallurgical parameters included.Here defined, the “electrons” represent intrinsic ore characteristics embracing chemical composition, mineralogy, gangue components and their associated fundamental metallurgical processing phenomena. With its ever expanding treasure chest of measurement and modeling tools, geometallurgy paints a much clearer picture of the “electrons” for the geologist and metallurgist. But to fully understand and realize the real net value of ores over the life of a mine, a comprehensive link of “electrons to the dollars” is essential. Intrinsic characteristics of geometallurgical ore units are by definition linked to their metallurgical processing, but importantly need also to be related to operating costs, capital requirements and revenue.This paper discusses this important linkage under topics of ore geology and mineralogy, metallurgical processing, waste disposal, environmental issues, metal refining, project engineering and lifeof- mine models. Topics are illustrated by multi-metal references and by case examples from gold ore heap leaching and manganese ore smelting projects. 1"

Jan 1, 2013

By Kurt R. P Petersen

This paper discusses the current approaches to modelling the DMS cyclone within the De Beers group. Current efforts are split into short term value-adding process understanding and longer term semi-fundamental analysis of separation mechanisms. To date, the basic applied approach has yielded significant value to the group, enabling operators to focus on simple diagnostic measures to control their process. The more involved modelling approach has given rise to a new understanding of the separation field, in particular that the high density gradients within a cyclone are highly localised, indicating that separation of medium to heavy density material takes place low in the cone. The model has proven to be conceptually robust, but still requires further development and validation to become a complete modelling and simulation tool for De Beers.

Jan 1, 2006

By Donald Bruce

The three types of specifications which are used for micropile work are: ? Performance Specifications: The contractor is permitted control over certain design and/or construction procedures but must demonstrate to the owner through testing and/or certification that the final product meets the specified performance criteria. This method allows and encourages the contractor to provide a competitive and/or innovative micropile design within the framework of the overall design requirements. The responsibilities for the work are shared between the owner and the contractor. ? Open Specifications: These leave the scope and design of the installation up to the micropile contractor. This method is the most common for securing bids on temporary micropile work. The responsibility for design and performance is clearly placed on the contractor. Open specifications are not recommended for permanent applications. This method allows the contractor to select the most economical micropile system. ? Prescriptive Specification: The Owner describes specific procedures that must be followed, but which may not necessarily describe the objective of the work. When prescriptive specifications are used, the owner is responsible for the proper performance of the system. The contractor is responsible for satisfying the details of the specifications. Performance specifications are the most common and best reflect the challenges and interests of micropile technology and applications.

Jan 1, 2004

By Joint Micropiles Committee

"The three types of specifications which are used for micropile work are: • Performance Specifications: The contractor is permitted control over certain design and/or construction procedures but must demonstrate to the owner through testing and/or certification that the final product meets the specified performance criteria. This method allows and encourages the contractor to provide a competitive and/or innovative micropile design within the framework of the overall design requirements. The responsibilities for the work are shared between the owner and the contractor. • Open Specifications: These leave the scope and design of the installation up to the micropile contractor. This method is the most common for securing bids on temporary micropile work. The responsibility for design and performance is clearly placed on the contractor. Open specifications are not recommended for permanent applications. This method allows the contractor to select the most economical micropile system. • Prescriptive Specification: The Owner describes specific procedures that must be followed, but which may not necessarily describe the objective of the work. When prescriptive specifications are used, the owner is responsible for the proper performance of the system. The contractor is responsible for satisfying the details of the specifications.Performance specifications are the most common and best reflect the challenges and interests of micropile technology and applications.The owner, designer and contractor will together be responsible for the tasks associated with the design, installation, acceptance, and performance of the micropiles. The installation of micropiles requires specialized equipment, techniques, and appropriate workmanship. Not every detail of the work can be specified, and not every potential problem can be anticipated. Therefore, a contractor who has demonstrated experience in micropiles must be selected to execute the work required."

Jan 1, 2004

By Frank Cappuccitti, James A. Finch, Stéphanie Gélinas

"A colorimetric technique, originally developed for methyl iso butyl carbinol (MIBC) based on the Komarowsky reaction, has been extended to a wide range of common mineral flotation frothers. The procedure, which is briefly described, is shown suited to on-site determinations in a campaign at Kennecott Utah Copper Copperton Concentrator (Rio Tinto). Some observations are described, including: frother (MIBC) concentration evolution down a bank, frother distribution between pulp and froth phases, and loss of frother over time due to adsorption on certain minerals. A possible interference with a fuel oil addition was overcome. MIBC in recycle water was also measured.The ability to monitor frother easily will help interpret gas dispersion behaviour and should permit further optimization of flotation cell hydrodynamics and chemistry. The capability to directly measure should help optimize the type, amount and location of frother addition, and to assess frother recycled with reclaim process water.INTRODUCTIONOwing to the lack of analytical methods, the task of determining frother concentration in plant flotation circuits is not routinely performed. Industrial sites seldom outsource analyses that are both costly and inconvenient, due to the necessity of shipping freeze-dried samples to remote testing facilities. A more direct colorimetric method has recently been demonstrated for the laboratory characterization of common industrial frothers (Gélinas and Finch, 2004). The approach, based on the Komarowsky reaction (Penniman et al., 1936; Coles et al., 1942; Duke, 1947), was previously described by Parkhomovski et al. (1976) for methyl iso butyl carbinol (MIBC). The reaction involves the interaction of the OH group of a higher alcohol, concentrated sulphuric acid, and salicylaldehyde, to yield coloured solutions with intensities that can be analyzed by UV-visible spectrophotometry."

Jan 1, 2005

By Eung Ha Cho, Wendi Li

Wet desulfurization of Pittsburgh No. 8 coal and Illinois No. 6 coal were conducted with sodium hypochlorite in the laboratory. Pittsburgh No. 8 coal was leached by hypochlorite at high pHs in one step only. The hypochlorite concentration varied from 0.2 to 0.6 molar; sodium hydroxide concentration, from 0.2 to 0.8 molar; and temperature was at the levels of 80 and 90°C. The desulfurization of Illinois No. 6 coal was conducted in three consecutive steps of pretreatment in concentrated ammonia at room temperature, leaching with hypochlorite at room temperature and hydrolysis in sodium hydroxide solution at 90°C. In the leaching step, hypochlorite concentration varied from 0.2 to 0.8 molar. The desulfurization method of Pittsburgh No. 8 coal was found to reduce mainly pyritic sulfur. More than 70% of pyritic sulfur removal was achieved at the optimum conditions of 0.4 molar hypochlorite, 0.4 molar sodium hydroxide and 90°C. The desulfurization method for Illinois No. 6 coal was capable of reducing significant amounts of organic sulfur. The removal of organic sulfur achieved a 37.8% reduction at the optimum operation of leaching at 0.4 molar hypochlorite and room temperature followed by hydrolysis at 0.3 molar sodium hydroxide and 90°C. The chlorine content in the coal produced by the chlorination during leaching was kept below the threshold value of 0.3% at the optimum conditions of the desulfurization method for each coal.

Jan 1, 2005

By D. Boldini, R. Lackner, H. A. Mang

ABSTRACT: In this paper, the strong interaction between the hardening shotcrete lining and the surrounding ground in NATM tunneling is investigated by means of axisymmetric analyses, accounting for the three-dimensional nature of the excavation process. The effect of the hydration of shotcrete on strength, stiffness, chemical shrinkage as well as microcracking and creep are accounted for. For the description of the mechanical behavior of the ground, a multi-surface plasticity model is employed. The performed analyses of the excavation process provide insight into the influence of each phenomenon accounted for in the material model for shotcrete on the response of the ground-shotcrete compound structure. ZUSAMMENFASSUNG: In diesem Beitrag soll die Interaktion zwischen dem erhärtenden Spritzbeton und dem Boden auf der Basis axisymmetrischer Berechnungen untersucht werden. Derartige Berechnungen ermöglichen die Berücksichtigung des drei-dimensionalen Charakters des Vortriebprozesses. Die Auswirkung der Hydratation auf die Entwicklung der Festigkeit, Steifigkeit und der chemischen Schwindverzerrungen, sowie das Reißen und das Kriechen des Spritzbetons wurde berücksichtigt. Das mechanische Verhalten des Bodens wurde mittels eines Mehrflächenplastizitätsmodells simuliert. Die durchgeführten Berechnungen des Vortriebprozesses geben Einblicke in die Auswirkungen der Spritzbetoneigenschaften auf das Tragverhalten des Boden-Spritzbeton-Komposits. RÉSUMÉ: La stricte interaction entre le soutènement en béton projeté durcissant et le terrain dans un tunnel creusé avec la NATM est étudiée par des analyses axisymétriques, compte tenu de la nature tridimensionnelle des processus de creusement. Les effets de l’hydratation du béton sur la résistance, la rigidité et la contraction chimique, ainsi que sur la micro-fissuration et le fluage, sont mis en compte. Pour la description du comportement mécanique du terrain on emploie un modèle de plasticité multi-surface. Les analyses conduites mettent en évidence l’influence de chaque phénomène considéré dans le modèle constitutif du béton projeté sur la réponse de la structure composite terrain-béton projeté.

Jan 1, 2003

By Charles Kocsis

Over the last few years a multi-faceted feasibility study has been evaluating the introduction of hydrogen fuel cell powered equipment into underground mines to replaced diesel engine powered equipment. The analysis has shown that under normal operating conditions fuel cells could at the very least be an environmental and health benefit by eliminating combustion engines and their unwanted by-products. However, they could also generate significant reductions in the amount of ventilation a mine needs to supply when compared to dieselized operations; this would further decrease a mine?s energy consumption, its associated greenhouse gas impact and also reduce a mine?s significant ventilation associated costs. Fuel cell powered equipment also has the advantage of lower noise and heat production compared to their equivalent diesel powered counterpart. The degree to which fuel cells can generate ventilation benefits in underground mines depends upon a number of operational parameters and mine specific qualifiers such as current ventilation control or management, mine depth, inherent dust conditions and minimum velocity requirements. However another major consideration in the introduction of fuel cells in underground mines will be the safety requirements associated with diluting and removing the potentially explosive hydrogen in the event of a gas leak. In outside surface applications, it is possible to use dispersion, buoyancy, time, and lack of ignition sources as mitigating factors in deriving a low risk of an explosion. However, in underground operations these factors change, dispersion and buoyancy are limited; time may not be available and in non-coal mines ignition sources are not typically controlled. When a hydrogen leak occurs, the availability of sufficient ventilation to dilute and effectively remove the gas will be critical, consequently ventilation may be the prime risk controlling factor. In this paper, the authors evaluate the potential benefits of replacing diesel engines with fuel cells in powered production equipment, discuss the mitigating qualifiers that could limit ventilation savings and evaluate solutions to retain and maintain an additional ventilation capacity in the event of an emergency situation such as a hydrogen leak from the fuel cell stack or its distribution system.

May 1, 2007

By E. Snyders

Two alternative processes for the manufacturing of zircon products were investigated by the South African Nuclear Energy Corporation (Necsa). These were the synthesis of doped-zircon pigments from plasma dissociated zircon, and an upgrading process to convert an inferior grade of zircon into a superior opacifier for ceramic applications. A solid-state reaction process was used to produce doped-zircon pigments. The influence on the colour intensity of the pigments on a ceramic tile were compared for milled and un-milled plasma dissociated zircon (PDZ) material, prior to calcination. Pr-yellow and V-blue zircon pigments produced from PDZ with different degrees of dissociation, were also evaluated. The second zircon beneficiation process entails the upgrading of an inferior grade of zircon to a superior opacifier for ceramic applications. A calcining process in the presence of mineralizers was used to produce the product in a conventional muffle furnace. A pre-milled inferior grade zircon concentrate, with a relatively high iron and alumina content generally not suitable for high quality ceramic applications, was used in this study. The influence of the upgrading process on the opacifying properties of the zircon material was compared to that of commercially available prime grade zircon opacifier products currently being produced in South Africa. The influence of a calcining step in the presence of mineralizers with regard to the milling characteristics of the treated zircon material was also evaluated.

Jan 1, 2005

By J. A. Finch, T. Weber

"Bubble size in flotation is strongly influenced by frother concentration in the pulp liquor. There is no accepted method of judging the dosage and thus how effectively frother is being distributed to control bubble size is not known. This will hamper certain plant test work where constant bubble size (e.g., when comparing reagents) is implicit. Bubble size is not easy to measure in plant and gas holdup is suggested as a surrogate in the development of a proposed “meter” to estimate frother concentration. The meter is calibrated to enable frother concentration to be estimated on samples drawn from any location in the flotation circuit. The meter and its calibration are described.As general background the action of frothers in reducing bubble size by retarding coalescence is discussed and the bubble generation systems for which the effect will be important are considered.INTRODUCTIONBubble size is an important variable in flotation. The flotation rate constant k has been related to mean bubble size Db by k % Db -n with n ranging up to 2 (Ahmed and Jameson, 1989) and even 3 (Yoon, 1993). Recent work has introduced k % Sb, the bubble surface area flux, given by Sb = 6 Jg / Db (where Jg is the superficial gas velocity or volumetric gas rate per unit cell cross-sectional area), i.e., n = 1 (Gorain et al., 1998). Regardless of the exact value of n, the significance of bubble size in flotation remains. In many plant trials it will be implicit that bubble size has not changed and attention will focus on other process variables. The measurement of bubble size, or a surrogate, would be useful addition to any test work.The size of the bubbles is influenced by several variables, gas rate, gas injection system (e.g., impeller design and rotation speed in a mechanical cell) and pulp composition (chemicals added, percent solids), but the most important is frother concentration (Harris, 1976). The frother functions by retarding coalescence (see appendix), which acts to preserve the small bubbles generated in the pulp (and permits a stable froth to form on top of the pulp). The measurement of bubble size is thus related to measuring frother concentration. The distribution of frother and whether sufficient (to control bubble size) is reaching the intended parts of the circuit then become important considerations. At present there is no simple way to judge frother concentration in a plant. In this communication we introduce a possible methodology, a “frother concentration meter”."

Jan 1, 2003

By John C. Calhoun, Frank T. Bethel

The application of a method for analyzing pressure build-up curves to determine the effective permeability in the Spraberry is presented. Sixteen upper Spraberry wells of the Driver area arc analyzed and show variations in the in-place effective permeability of 2 to 183 md. Since these value- are much larger than the .5 md. or less reported for the matrix rock. a large part of the vertical fractures noted in Spraberry cores- must be considered native to the formation. The effectiveness of the well fracture treatment in connecting the well bore to the native fracture system is analyzed by comparison of the effective permeability as determined from the PI test to that obtained from a pressure build-up curve. These results show that the fracture treatment is sufficiently effective in connecting tile well bore to the native fractrure system to yield a flow capacity within about 50 per cent of that dictated by the native fracture system About two-thirds of the wells show some degree of local blockage. INTRODUCTION Fractured reservoirs have been known in the past.' However, during the past two years the Spraberry formation has directed the attention of the petroleum industry to a study of the performance of a fractured reservoir. The large variation in the number of fractures noted in Spraberry cores rile large variation in the producing ability of offset well.. the dramatic effect of well treatment on well ,productivity. the unknown quantity of oil stored in the fractures and matrix rock. and the unknown oil to be recovered were part of the initial Spraberry puzzle. In this type reservoir where the well treatment is an important factor in determining the productivity. it i- particularly desirable to determine the in-place flow capacity of the drainage area at distance* far removed from the well bore. This value. when compared to the flow capacity obtained from a PI measurement, will show the effectiveness of the well treatment (completion. fracture treatment, acidization. etc. in establishing a flow capacity in the vicinity of the well bore equal to that in the more remote region. The object of this paper i.; to show the application of a method of pressure build-up analysis for this purpose in studying the Upper Spraberry formation in the Driver area. STATEMENT OF THEORY The theoretical basis for the application of a pressure buildup curve to show the effective permeability of the rock at distances far removed from the well bore has been presented in detail in earlier publications.', in the previous development it was shown that pressure build-up behavior of all wells could be reduced to the same dimensionless build-up curve of Fig. 1. This mean.; that the bottom hole pressure of a well after hut-in will rise in such a manner that a plot of pressure against the logaritllm of time yields a straight line. The slope of this linp can be rlzed to calculate the effective permeability as expressed by the following equation: where: effective oil permeability md oil production rate prior to shnt in. STB/I) In practice the flow which occurs into the well bore after shut in and the variation in flow capacity in the immediate vicinity of the well bore usually cause the early part of the build-up curve to be unsatisfactory in the determination of permeability. In general the effect of these factors on the straight line section will become negligible after a time when the of the following equation is equal to 0.1. and the preferred section Of the curve for use in defining the slope lie-

Jan 1, 1953

By Ian Townsend

A prerequisite for good filter performance is that the total filter installation has been well designed. In this sense, the filtration testwork will provide scale-up data, and an insight into the relationship between operating parameters that may then be optimised, and used in the development of a control strategy. A good understanding of the filter’s operating principles will ensure correct selection and sizing of ancillaries, allowing in particular for the difference between instantaneous and average flow rates.

Sep 13, 2001

By T. G. Joseph

A strain-softening constitutive relationship is introduced that describes the post-failure stress-strain curve for rock regardless of whether the rock is intact or broken. The core of this relationship is an ?apparent friction? concept that relates the post-failure apparent cohesive and frictional characteristics of the rock to the strain. The relationship can be determined for a given rock via a series of tri-axial strength tests establishing the peak strength and corresponding strain for a range of confining pressures, together with the determination of the base angle of friction via a simple tilt test. The postulates and assumptions used in deriving this relationship are verified from results of tri-axial tests on both intact and broken rock.

May 1, 2002

By J. C. Bothan

A program to provide technical in-formation on the use of fuels in pyro-metallurgical processes, from the Canadian fuel viewpoint, was initiated about five years ago by a Canadian Institute of Mining and Metallurgy liaison grou1> composed of members from the Coal Research Committee of the Coal Division and the Iron and Steel Committee of the Metallurgy Division. This paper is another of a series prepared for this program. Previous papers included a review of pyrometallurgical processes of Canadian interest, a survey of ferrous processes relevant to the development of an integrated steel industry in western Canada and a survey of the fuel requirements of the non-ferrous metals industry in Canada. It is widely recognized among per-sons familiar with the Canadian coal industry that, because of the large resources of coking coal in western Canada, the

Jan 1, 1963

By Kenneth G. Skinner

The rapid growth of the metallurgical, chemical, and allied industries on the Pacific coast just prior to and during the war caused a sudden increase in the demand for refractories, which was the immediate cause of a revival in interest in refractory clays available on the Pacific coast, particularly in the Pacific Northwest. Population increases and shortage of shipping facilities caused an increase in the amount of various ceramic materials and products used and produced on the Pacific coast, with accompanying demand for information regarding sources of clay. In an effort to supply part of this information, the Bureau of Mines, in cooperation with the College of Mines, University of Washington, started a program in 1944 to test the refractory and other properties of clays from seven Pacific Northwest deposits that had been drilled and sampled as part of the Bureau of Mines alumina from clay investigation. Figure 1 shows the location of these deposits.

Jan 1, 1949

By P. B. Baxendell

The appraial of producing properties and profitability ntzalysis of a proposed capital expenditure are based on the same principles. In both problems a projection of future cash income is. cornpared to one or more capital expenditures. Several different methods have been in use either to compute a price to obtain a given earning power on the investment or to compute the earning power which will result from a given capital expenditure. One of these, the "Average Annual Rate of Return" method, computes in a simple manner the ratio of the present value of the future earnings after amortization to the present value of the undepreciated balances of the investment over the life of a project. This method, not well known generally, appears to have some rather unique advantages in reducing the computation work required, eliminating trial-and-error solutions, and providing a more accurate answer when applied to oil industry investments subject to the unit-of-production basis of amortization. Its derivation is given and its versatility demonstrated in the solution of certain everyday investment problems. A number of charts, useful in applying this method to profitability analysis and appraisal work, are provided. The current trend in the market values of producing properties is shown. INTRODUCTION Making sound capital expenditure decisions requires an objective means of measuring the productivity of individual investment proposals. Since the best measure of the economic worth of such proposals is their ability to produce profits, it is common practice to grade proposed capital expenditures according to their annual earning power as a percentage of the outstanding capital. The same principles which govern the determination of the rate of return of proposed capital expenditures also apply generally to the problem of determining the appraisal value or purchase price of income-producing oil and gas properties. Both problems are of prime importance in the producing phase of the oil business, where management is faced daily with decisions to drill or not to drill certain development wells, or with the determination of the appraisal value of producing properties. The common feature in both problems is that a projection of future cash income is compared with a known or estimated capital investment to determine itsiearning power or annual rate of return. In the case of development drilling, the cost of the proposed well can usually be estimated with a fair degree of accuracy and the problem consists of finding the rate of return on the invested capital. In the case of appraising producing properties, on the other hand, the desired rate of return is usually known in advance and the problem consists of determining the purchase price which, for the given income projection, results in the fequired rate of return. Certain accounting procedures common to the oil and gas producing business make these two problems and their solutions somewhat different from corresponding problems in other industries, and, in certain ways, simpler. The main difference is in the amortization policy which, for oil and gas production, is frequently on a unit-of-production basis, compared to the amortization on a time basis used in many other industries. The purpose of this paper is to discuss briefly the various methods currently in use for the measurement of productivity of invested capital in producing properties and, in more detail, the derivation and application of what will be called the "Average Annual Rate of Return Method". This rather interesting and not too well known method has some very definite advantages in the solution of many problems common to the oil industry. For the sake of simplicity, federal income tax considerations have been disregarded in the examples used, since they do not affect the principles involved. The use of the production payment route in the sale or purchase of producing properties, which has been amply covered in many other publications, has also not been included in this analysis. METHODS FOK MEASUKING THE EARNING POWER OF INVESTED CAPITAL, Of the many different methods used to measure the earning power of invested capital, four are applicable to oil or gas production ventures. Depending on whether these four methods utilize one or two interest rates, and whether a fixed amortization pattern is used, they may be classified as follows.