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By Harold Rose

THE peak of production from the Appalachian natural gas field was apparently reached about 10 years ago, and the annual production from Pennsylvania, West Virginia and Ohio has now dropped to about two-thirds of the amounts obtained in 1916 and 1917. This .falling off in production has occurred in spite of vigorous efforts and large expenditures by producing companies to maintain or increase their output. The greatly increased costs of development and handling are reflected in the present average value of natural gas at the point of consumption, which value in the three states referred to, has more than doubled in the past 10 years. While it is true that the natural gas production of the United States has increased during recent years, this increase has come from southwestern states, particularly from Oklahoma, California, Louisiana and Texas, which states are now leaders in the production of this valuable but fleeting resource. Pennsylvania, originally the leading state in natural gas production, occupies sixth place in the latest (1924) U. S. Bureau of Mines statistics. West Virginia, which held first place for 15 years, has dropped to third rank, and Ohio is the seventh state in the order of natural gas production. Domestic and industrial demands for gas are constantly increasing everywhere in the United States. These growing demands have accentuated the difficulties in the localities with depleted natural gas supplies, and serious shortages have already occurred during winter months in the Pittsburgh district. Some relief has been obtained by placing restrictions on the industrial use of natural gas, and by increasing the price (which tends to reduce consumption). Yet these are but temporary expedients for checking gas consumption, which fail to solve the problem of adequate future supplies of gas.

Jan 10, 1926

By Alfred E. Hunt, Geo. H. Clapp

The great advantage to he gained by a careful inspection of all materials used in construction, in regard to safety and permanency, and to accuracy of workmanship, has been longer recognized in Great Britain and on the Continent than in America. This is probably owing to the way in which great enterprises have been " rushed" in the United States. Time and cheap first cost, in too many instances, have been considered of more importance than absolute safety and durability; the structures being afterwards strengthened if this was found necessary. This has been most noticeable in railroads built through " new " country, where the object in view has been to reach the terminal point and get to work. These " loose " methods are now being very largely done away with, and a large proportion of the structures lately built are not only carefully inspected during the process of

Jan 1, 1891

By E. G. Leonardon

THE first to appreciate and foresee the value of applying electrical measurements to structural studies was Prof. Conrad Schlumberger, Professor of Physics at the School of Mines in Paris. One of his earliest practical undertakings in this line was carried out, in the field, at Fierville-la-Campagne, Normandy, in 1912. His book, published in 1920,1 still stands as an authoritative, fundamental treatise on the use of the electric current in geological studies, in spite of the rapid evolution of geophysics during the last seven years. A remarkable feature of this book is that, even then, it stressed the role of electricity in structural investigations and made public the first successful results obtained therewith. Stratigraphic studies have been pursued continuously by Conrad Schlumberger and his associates since 1912, the only interruption being the World War. The results attained demonstrate the wide possibilities of electrical exploration in structural work. This field of activity is, at the least, as varied and valuable as the search for ore. It is curious that until very recently it has so slightly attracted the attention of geophysicists and geologists on this continent. The purpose of this paper is to present briefly some examples of the practical application of the potential methods to geological studies. These examples are chosen from a number of problems solved in the field by our firm, in the course of its consulting practice. Certain fundamental points are briefly stated before the field operations and interpretations are described.

Jan 1, 1928

By William Grady

FACTORS entering into the market value of coal are its grade, and the cost of labor, material, and capital. Reduction in these costs cannot be expected in the future, and it therefore follows that greater economy in their use must be accomplished if it is desired to hold the present markets; more tons of product per unit must be obtained in a given time from both men and material, and means devised for increasing the percentage of lump and domestic sizes. This paper is presented for the purpose of inviting discussion and stimulating thought in regard to the influence of methods of procedure and plans of mining, upon the quality of coal, the economical use of labor, material, and capital, and the cost of production. Even the better methods of the. present day leave much to be desired, and a review of the reasons and necessities for their use may be of value in pointing the way to more economical mining. The writer does not attempt to discuss untried methods of mining, but rather to state clearly and concisely a summary of the results obtained under the several methods of procedure that have been adopted. In some instances a high degree of concentration has been effected, and comparisons of the results obtained with the results of lesser degrees of concentration form an interesting study. It is believed that much may be accomplished in improving the quality, and in the more economical use of labor, material, and capital, by concentration, and it is to concentration in particular that your study is invited. The writer, who .has occasion to visit many mines, most of which ire under different management, has been inclined to the opinion that improvement has been retarded in many ways and that mining has not as yet been entirely freed from the early-day practices which were forced upon it.

Jan 5, 1915

By S. M. Moos, R. E. Dugger

In reviewing available vacuum filtration equipment in this paper, several types of filters have been included which are probably not familiar to operators in the mining industry. However, it was felt that these units might be of interest in the event that an application should arise for the filtration of a product in the future that does not exist today. In addition, exposure of our industry to equipment used in other industries might have a tendency to be thought provoking and perhaps lead to the development of equipment and/or applications in our industry which do not necessarily exist at this time. Most innovations in filtration equipment have been confined to the improvement or design change of components and accessories, particularly reflecting the availability of materials of construction that have been developed. Recent developments in the application of horizontal belt filters have been innovative. The application of this unit as a substitute for or an adjunct to thickeners in a CCD circuit can certainly be innovative and perhaps provide a basis for reduction in capital and operating costs in this area. For example, mill tails are generally pumped at the highest possible density that will adequately flow. Tailings ponds and dams with their attendant design requirements are based upon this estimated water volume. Availability of a much dryer, non-flowing filter cake opens up several new options for disposal. Considerable cost savings could result in the design and planning of disposal areas for containing dryer material. No attempt has been made in this paper to provide a manual for the operation of all of the many types of equipment that are available. Rather, the paper tries to present an overview. Fundamentals of Vacuum Filtration Filtration may be defined as the separation of solids from a liquid effected by passing the liquids through a porous medium. If the filtrate is induced to flow through the medium by hydrostatic head, we refer to it as gravity filtration. If we utilize super-atmospheric pressure upstream of the medium we call it pressure filtration and if sub-atmospheric pressure is applied downstream of the medium we call it vacuum filtration. Centrifugal filtration occurs when a centrifugal force is applied across the medium. Centrifuges will not be discussed in this paper. The process goal of filtration may be the production of dry solids where the cake is the valuable product, clarified liquid

Jan 1, 1980

By D. E. Ranta, M. W. Ganster, A. D. Ward

An ore zoning technique developed by Climax geologists during the past forty years has been used to contour drill-hole assay values on cross-sections for fourteen porphyry molybdenum deposits in western North America, including the Climax and Henderson orebodies. Detailed geological studies of these large, complex deposits are essential in determining ore controls, which are the factors most critical to the zoning of MoS2 and to conceptualizing geologic model s. The technique provides a detailed representation of the size, shape, grade distribution, and geologic continuity of the individual deposits. It demands a disciplined approach and adheres to rigorous rules while maintaining flexibility for adaptation to widely varying geologic conditions. By defining the limits that guide and control manual, computer-assisted conventional, and geostatistical reserve estimates, it exerts a strong geologic influence on the estimation process. A combination of ore zoning and geostatistical analysis of molybdenum deposits produces a significantly more accurate, precise, and defendable geologic reserve estimate than other methods.

Jan 1, 1984

By Cyril Smith

SEVERAL investigators, mainly concerned with the mechanical proper-ties of the alloys, have studied the so-called aluminum bronzes after various quenching and reheating treatments. Of these works, perhaps the most complete is that of Bouldoires,1 who studied changes of length, electrical conductivity, thermoelectric force, hardness and micro-structure oh tempering quenched alloys containing 5 to 20 per cent of aluminum, although the work of Carpenter and Edwards,2 Curry,3 Greenwood,4 Braesco,5 Matsuda;6,7 Grard8 and others has added much to our knowledge of the changes occurring during tempering. The so-called acicular ß decomposes on tempering at temperatures between 350° C. and the eutectoid, giving rise to a Widmanstätten structure of a needles in a matrix of d or fine a + d, associated with an increase in hardness and almost complete loss of ductility. Matsuda, studied the' eutectoid transformation by means of dilatation and electrical "conductivity measurements during cooling at different rates. He found that on cooling at the rate of 10° C. per minute there was a decrease in electrical resistance and in length instead of the usual increase which occurred with slow rates of cooling. On tempering the rapidly cooled samples, the increase commenced at about 400° C. and at 520° C. the resistance and length had reached the equilibrium values. These peculiarities he accounted for as being due to a transitional phase ß' being formed, ß having an electrical resistance and volume less than either ß or a + d.

Jan 1, 1933

By A. F. Taggart

This paper describes the result of a series of experiments run in the laboratory of the School of Mines, Columbia University, during the winter of 1927-28. It shows that the several operating adjustments of a pneumatic table produce effects in the action of a given coal that may be grouped into two classes, viz.: stroke length, speed and rocker-arm angle, which affect longitudinal travel; air supply and table slope (transverse and longitudinal), which determine transverse travel. The magnitude of the effect of the different adjustments varies. Some of the adjustments affect stratification of the bed, both as respects size and specific gravity of the bed components, as well as direction of travel. Operation of a pneumatic table is fundamentally different from that of a wet table in that the former exerts, through the air supplied, a force on the particles upward away from the deck which is lacking on the wet table while, on the other hand, it lacks the positive control over cross travel that is supplied by the wash and feed water. Apparatus The pneumatic table used is shown in Fig. 1. Deck A is 20 by 12 in. and consists of nainsook supported on slats that register with the riffles. Fig. 2 is a photomicrograph of the nainsook used. It shows that the cotton threads average about 0.13 mm. dia. and the apertures about 0.17 mm. The deck carries 12 riffles consisting of wooden strips, 3/16 in. wide and 1/4 in. high, laid parallel to the feed side of the table. The riffles terminate along a line starting on the feed side at a point 11 in, from the mechanism end and running to the corner formed by the coal side and slate end. Taper starts from a line that runs parallel to their terminal line through the junction of the upper riffle with the mechanism end. The height at the terminal line is about 1/32 in. The deck with its supporting slats is carried on a framework consisting of rails A, sloping end rails B, and adjustable metal strips C, which latter permit variation in transverse slope. This frame is enclosed at the edges by means of heavy canvas, indicated in the sketch by wavy lines, which makes a flexible conduit between the deck and the stationary air chamber,

Jan 1, 1930

By P. D. Wilson

The Province of British Columbia covers 382,000 sq. mi., about 250,000 sq. mi. of which have not been prospected. In fact, the coast country and the islands are so heavily timbered and the surface covered with so thick a mantle of soil, muskeg, and, over broad areas, glacial drift, that prospecting and even trail breaking are extremely difficult. It is only along the coast or stream channels, or above the timber line, or where snow or rock slides have scoured the surface, that rock outcrops can be found. Glaciers nestle in many of the cirques and fill the valleys in the higher ranges. Great ice sheets and perpetual snow persist in certain localities, thus reducing the exposed areas worth prospecting. Almost the entire country has been subjected to intense glaciation, so that the conspicuous oxidized outcrops of orebodies typical of the southwestern United States and Mexico do not exist and surface bodies of enriched or oxidized ore are rare. With few exceptions, the mines1 of the Province are working primary ore. Development, have proved that some of these orebodies are large and important, although usually comparatively low in grade. Besides the few mines that have produced most of the minerals, there are many small mines, but their total output is unimportant. Considering the number of mines and prospects and the widespread mincralization, it is strange that no really great mines, comparable in sizc and richness with those in the western United States, have been found. The deposits that most closely approach the status of great mines are

Jan 1, 1923

By P. B. Elkin, K. C. Ten Brink, Allen D. Garrison

It is the purpose of this article to present the results of an investigation of certain clay and shale suspensions having viscosities that are materially influenced by fluid motion, and to discuss the bearing of these results upon the choice of policy in the control of drilling fluids. A previous article described the design and the characteristics of an instrument adapted to measure the viscosity of plastic suspensions during continuous uniform motion and at a variety of speeds.' It has long been recognized that the viscosity of a clay suspension depends on the past history of the fluid motion. Since an abundance of literature is available on this phenomenon,2 it is not necessary to describe it in more than general terms. It is usually observed that rapid motion reduces the viscosity of a clay suspension, and that some time is required for the viscosity to fall to its equilibrium value after the steady motion is started. On reducing the speed of motion to some lower value, the viscosity again rises, but it also requires some time to attain a steady viscosity value at the slower rate of motion. Thus clay suspensions are usually observed to be increasing in viscosity as time passes when the measurement has been immediately preceded by fluid motion that was more rapid than that employed in the measurement. And it is usually observed that the viscosity falls as time passes when the measurement has been preceded by more quiescent conditions. Reed,3 and Broughton and Hand4 have reported a condition of observation of clay suspensions in which the viscosity was observed to fall during the first few moments of steady motion, and rise thereafter. The characteristics of the new instrument are particularly well adapted to studies of this kind. With it we have been able to observe all of the phenomena described above, and it is important to understand their nature because they all occur at some time during normal drill-

Jan 1, 1940

By P. D. Wilson

The Province of British Columbia covers 382,000 sq. mi., about 250,000 sq. mi. of which have not been prospected. In fact, the coast country and the islands are so heavily timbered and the surface covered with so thick a mantle of soil, muskeg, and, over broad areas, glacial drift, that prospecting and even trail breaking are extremely difficult. It is only along the coast or stream channels, or above the timber line, or where snow or rock slides have scoured the surface, that rock outcrops can be found. Glaciers nestle in many of the cirques and fill the valleys in the higher ranges. Great ice sheets and perpetual snow persist in certain localities, thus reducing the exposed areas worth prospecting. Almost the entire country has been subjected to intense glaciation, so that the conspicuous oxidized outcrops of orebodies typical of the southwestern United States and Mexico do not exist and surface bodies of enriched or oxidized ore are rare. With few exceptions, the mines1 of the Province are working primary ore. Development, have proved that some of these orebodies are large and important, although usually comparatively low in grade. Besides the few mines that have produced most of the minerals, there are many small mines, but their total output is unimportant. Considering the number of mines and prospects and the widespread mincralization, it is strange that no really great mines, comparable in sizc and richness with those in the western United States, have been found. The deposits that most closely approach the status of great mines are

Jan 1, 1923

By Norman Gerald

THE lack of a continuous operating balance in petroleum refining, which is analyzed in this paper, is by no means a feature solely of this division of the oil industry. Serious disequilibria of a capital as well as an operating nature exist both in the producing and marketing departments, while problems in the former and to some degree the latter are complicated by political involvements. Attention has previously been directed to the unstabilizing influence of present proration formulas in stimulating unnec-essary drilling.1 While equilibrium in petroleum refining operations has been fairly well maintained in the past decade, examination of departures may prove fruitful. Economic analysis is the application of time and motion study to the functioning of management, rather than labor. Properly applied it may reveal changes in policies that would increase the utility of the properties and facilities of the industry for stockholders, employees and the public, while contributing a stabilizing influence to the general economy. The study of economic equilibrium is essentially one of measurement and interpretation, requiring adequate data and the development of a tech-nique of analysis that employs statistical and mathematical methods as a supplement to the broad descriptive phase of economics. Economic equilibrium in petroleum refining is a dual concept. It embraces both the over-all balance between total storage and total demand for major products and the internal balance between the demands and inventories of the various products. The latter is the more complex of the two for it is concerned with proportionating the supplies of the several products stemming from the joint source to the demands for the individual products which are subject to wide variations. All the products are essentially nondurable goods, and they are used both by producers and consumers but in varying proportions. Motor fuel is very largely a consumer's good, while residual fuel oil is almost entirely a producer's good, the other products falling between these extremes. The peculiar-

Jan 1, 1939

By K. C. Ten Brink, Allen D. Garrison, P. B. Elkin

It is the purpose of this article to present the results of an investigation of certain clay and shale suspensions having viscosities that are materially influenced by fluid motion, and to discuss the bearing of these results upon the choice of policy in the control of drilling fluids. A previous article described the design and the characteristics of an instrument adapted to measure the viscosity of plastic suspensions during continuous uniform motion and at a variety of speeds.' It has long been recognized that the viscosity of a clay suspension depends on the past history of the fluid motion. Since an abundance of literature is available on this phenomenon,2 it is not necessary to describe it in more than general terms. It is usually observed that rapid motion reduces the viscosity of a clay suspension, and that some time is required for the viscosity to fall to its equilibrium value after the steady motion is started. On reducing the speed of motion to some lower value, the viscosity again rises, but it also requires some time to attain a steady viscosity value at the slower rate of motion. Thus clay suspensions are usually observed to be increasing in viscosity as time passes when the measurement has been immediately preceded by fluid motion that was more rapid than that employed in the measurement. And it is usually observed that the viscosity falls as time passes when the measurement has been preceded by more quiescent conditions. Reed,3 and Broughton and Hand4 have reported a condition of observation of clay suspensions in which the viscosity was observed to fall during the first few moments of steady motion, and rise thereafter. The characteristics of the new instrument are particularly well adapted to studies of this kind. With it we have been able to observe all of the phenomena described above, and it is important to understand their nature because they all occur at some time during normal drill-

Jan 1, 1940

By H. Shaw

IT is now generally recognized that the gravitational method of geophysical surveying is a valuable aid in elucidating the geological structure of the subsoil and enables the practical geologist to deduce the presence of useful deposits. The particular suitability of the torsion balance to the location of large and important subterranean structures has given rise to a wide application of this method by many of the important oil companies in their search for future supplies, and so intense have been these efforts that little has been heard of the method in other connections, with the exception of occasional references to its application in the location of hidden deposits of metallic ores, salt and lignite, and a number of accounts of its use in the elucidation of geological structures. Its success in the location of salt domes is well known, and establishes it as one of the most important of the geophysical methods, especially for the indirect location of oil. In the British Isles, however, no large occurrence of oil is likely to be revealed, and here the practical application of the gravitational method has been restricted almost entirely to the search for ores. This type of survey possesses well marked characteristics, and presents a gravitational problem that has necessitated the development of a special and probably unusual plan of campaign, full details of which it is hoped will shortly be published. The problems and difficulties encountered in this work are of necessity fundamentally related to those met with in the search for oil by means of the torsion balance, but they also possess several special and distinctive features which undoubtedly differentiate them from the obstacles confronting the oil prospector, and which call for special consideration and treatment.

Jan 1, 1928

By D. O. Ehrenburg, R. J. Watson

During the earlier period of electrical prospecting, the search for orebodies was by far the most important application of this method of geophysical prospecting. In the past few years, however, increasing attention has been paid to the possibilities of this method in the investigation of subsurface structures. Not only have fault zones been located, but attempts have been made to determine the depth to certain strata and thus contouring on some bed which proves to be a good "electrical marker." Many workers have published the results of field tests showing how their particular interpretations have agreed with the actual field conditions, but very few have stated their method of interpretation. Weaver, Hummel and Stefanesco and Schlumbergerl have given a more theoretical discussion of the resistivity methods. Hummel and Stefan-esco and Schlumberger have published mathematical solutions for the flow of electricity in a medium involving four layers. In this paper the authors present a solution for the flow of electricity in a medium of any number of horizontal strata. By means of this solution, curves showing the relationship between the apparent resistivity and the electrode spacing can be computed for ideal cases. Point-source in an Infinite Homogeneous Medium In resistivity measurements the current is conveyed to the earth by means of two electrodes, which can be mathematically treated as point-sources of equal and opposite strength. A point-source of strength I is defined as a point at which electricity is being generated at the constant rate of I coulombs per second, or I

Jan 1, 1932

By R. H. Singleton

ThE purpose of this investigation was to determine the effect of cerium upon the nonmetallic inclusions found in cast and wrought steel containing various amounts of sulfur, oxygen, and nitrogen. Interest of the Physical Metallurgy Laboratory of the Watertown Arsenal Laboratories in this type of research was stimulated by the reports from industry that rare-earth metals imparted beneficial effects upon the mechanical properties of steel, but that the mechanism was not understood. Berry and Dorvel' found that misch metal improved the impact properties of aluminum-killed cast steels. They reported that the rare earths modified the intergranular-film type nonmetallic inclusion, present with aluminum as the sole deoxidant, to a randomly distributed globular type. Lilliequist and Mickelson2 observed the improvement of ductility and toughness of quenched and tempered cast steels through rare-earth additions. They also observed the change from angular to duplex inclusions when rare earths were present. They con-

Jan 1, 1960

Mining examinations are of several kinds and the scope of the investigation depends in each case upon the purpose for which the examination is made. A formal examination of a developed mine is an expensive undertaking; from one to several months are allowed for the work according to the size of the property; many samples are taken; investigation is made of the geological features, including, perhaps, a topographical and geological survey of the surface; the metallurgical treatment of the ore is studied; finally, a determination of costs is demanded. Formal examinations are made for prospective purchasers or as a basis for the consolidation of several properties, and occasionally, in the owner's behalf, to verify the work of resident engineers, or to determine the readiness of a mine for equipment and the kind and capacity of equipment it shall receive. A formal examination of a mine should not be undertaken until a preliminary examination has shown that it is justified. It is regrettable that some engineers are in the habit of prosecuting long and exhaustive examinations of properties whose lack of merit should be, and perhaps is, apparent from the start, or of continuing their investigation long after an unfavorable result is seen to be inevitable. This wasting of a client's money is a species of trickery difficult to prove, and therefore the more contemptible. Preliminary examinations are precisely what the term implies, and are undertaken to determine the advisability of making

Jan 1, 1932

By H. E. Elliott, R. S. Busk, A. T. Peters

ONE of the problems of the fabricator of metals and alloys is the propensity of some composition ranges toward abnormal grain growth during certain stages of fabrication. In this respect magnesium alloys are no exception among alloys. Fortunately, convenient foundry control methods have been developed by which the abnormal grain growth possible in certain magnesium-alloy castings can be suppressed. An unusual characteristic of magnesium alloys, however, is that castings of some composition ranges are subject to local grain growth during heat-treatment without the necessity of intentional mechanical stressing of the part prior to heat-treatment. This effect occurs only under certain critical casting conditions, and only in certain alloys of greater than about 8.5 per cent aluminum content, such as C alloy (Mg, o per cent Al, 2 per cent Zn, 0.2 per cent Mn) and G alloy (Mg, i0 per cent Al, 0.2 per cent Mn). The first observation of this phenomenon in cast magnesium alloys occasioned much surprise, since it is not observed in other metals. Jeffries and Archer' have stated that "the grain size of cast metals, provided they have not been plastically deformed, cannot be changed by heating below the melting point." The study of the conditions leading to abnormal grain growth in cast magnesium alloys, and of the mechanism of this phenomenon, has led to some very interesting observations. Perhaps the most significant of these was the observation that stresses originating from cooling contraction in magnesium-alloy castings are the only stresses necessary, under certain conditions, to cause local recrystallization and subsequent grain growth in the casting during heat-treatment. of abnormal local grain growth was a definite problem in the production foundry on C alloy sand castings. Illustrated (Fig. r) is a picture of a casting scrapped because of this defect. A mottled effect is produced in coarse-grained areas by suitable etching solutions. The properties of metal in the affected area are much impaired by such grain coarsening. Ultimate tensile strengths of half the normal value have been measured in metal of this nature. In this paper are described the techniques that have been developed by The Dow Chemical Co. for studying, and in large measure solving, this production problem. Also discussed are studies of the mechanism by which excessive grain coarsening occurs, and the fundamental conditions that produce this effect. The abnormal grain growth discussed in this paper will be referred to as "germination," since this term has been defined' as any process leading to an abnormally coarse grain size. This paper deals only with abnormal local grain growth that may occur during the solution heat-treatment of certain magnesium-alloy castings, as dis-

Jan 1, 1945

By Thomas W. Wälde

BACKGROUND Foreign investment has been a major factor in bringing about the substantial mining industries of Chile, Peru, Bolivia, Venezuela, Brasil and Guyana. But economic nationalism and sentiment against foreiqn domination of vital national industries grew in the 1960s and most major mining projects were transferred into state owner ship. Among the state mining enterprises formed were CODELCO - Chile, MINERO-PERU/ CENTRCMIN - Peru, CCMIBOL - Bolivia (in 1952), Hierro-PERU, GUY-BAU/BIDCO - Guyana, etc. New investment during that time was discouraged because it was subject to the restrictive conditions of the investment regulations of the Andean-Pact, a grouping of Chile, Bolivia, Peru, Ecuador, Venezuela and Colombia. The philisophy was that mineral resources were to be developed exclusively by national enterprises. Essential foreign inputs had to be acquired "depackaged" as separate purchases of equipment and technical assistance services. As a result of the worldwide economic recession which hit the mining industries in 1980-1982, many projects that were viable in 1970 were not developed by the new state enterprises due to lack of capital, managerial and technical abilities and due to problems with marketing. As a consequence of the long-term decline of metal prices, governments experienced difficulty in getting investment organized through national or foreign enterprises and have had to face up to the trade-offs between national control and active mineral development. A change has since taken place in governmental policies. The 1981 Peruvian mining law, the 1982 mining law of Uruguay, the 1979/1980 mineral promotion laws of Argentina, all witness the gradual shifting of emphasis from restriction to promotion. The investment rules of the Andean Pact have been progressively softened through national regulation and today are more or less irrelevant. Nationalizations and forced renegotiations have not occurred in the last few years. Countries have gone to great lengths (without much success) to re-attract foreign investment on terms that accommodate the political sensitivities of the South American countries and the practical requirements of investors and financiers. For this analysis, three contracts have been selected which reflect this accommodation in three South American countries, where miner a1 production plays a major role in the national economy. These con tracts reflect both the attitudes and traditions of the individual countries, but also mark the shift in mineral investment policies that has taken place. EL INDIO AGREEMENT The 1977 investment agreement between Chile and St. Joe Minerals marked a dramatic relationship between Chile and foreign mining investor s. In Chile, mining of copper has played a major role in the country's history. Large scale copper mining was initiated and developed by Kennecott and Anaconda. The nationalization of these two companies under the Allende government in July 1971 started a wave of nationalizations of foreign-held mining and petroleum operations since then in many parts of the world. The military government supported the new Chilean state mining companies ((30DELCO and ENMI) , but it also attempted to accelerate mineral development by prom ting foreign private investment, thus reversing the nationalistic policies followed by the Allende and the preceding Frei government. The new policy by the military government is expressed in Decreto-Ley 600 (1974) which governs foreign investment in Chile. Decreto-Ley 600 is

Jan 1, 1985

W. 0. HOTCHKISS,* Madison, Wis.-When we began to do geological field work in the Lake Superior region, we found a correlation in existence, and, as youngsters, accepted all that as settled. Both Mr. Allen and I, since that time, have seen a great many things that were not apparent nor visible to Van Hise, and those who worked with him; we realize now that the correlation was not final and that much remains to be determined concerning geology of the Lake Superior region. My attitude on this matter is that we should not publish an amended correlation as a final thing. We should avoid, in every way possible, foreclosing the minds of those who follow us in working in the geology of this region. As a matter of fact, no correlation can be final at present, because facts and data are accumulating so rapidly that every classification must be immediately modified to fit further observation. Consequently, my attitude in this matter would be, instead of saying that the iron formations of the Lake Superior region are all Middle Huronian, to say that there may be three Huronians-or four or five- we do not know. I believe it is better policy to hold to our present correlation. I do not believe there is any economic benefit to the mining man or the geologist working on problems relating to explorations for iron ore, that cannot be just as well solved by maintaining our present correlation, with a. wholesome idea of our lack of knowledge and the necessity for further detailed work. Then, if any new horizons are discovered in any particular range, the minds of the investigators will not be foreclosed because some one has said that all the iron formation is in the Middle so that there is no use looking elsewhere for it. There is use looking elsewhere, in many cases, as the ore deposits become exhausted.

Jan 1, 1920