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E. T. Dumble, Houston, Texas (communication to the Secretary) : During the field-season of 1890 I had occasion to examine some of the salines of eastern Texas. As the result of my stridy of them I came to the conclusion that, together with the oil of Hardin county (since extended to Beaumont by the work of Capt. Lucas) and the rock-salt and gypsum-deposits of the coast country, extending southward to the Rio Grande, these were simply a continuation of similar deposits in Louisiana described by Hilgard, Hopkins, and others; and I recommended the sinking of wells wberever they were found.

Jan 1, 1902

By Sydney H. Ball

AMERICAN consumption of industrial diamonds has increased five fold in the past 25 years and today accounts for 15 to 20 percent of the world's sale of rough diamonds. In another decade the value of industrial diamonds sold may well equal or exceed that of gemstones. It is generally understood that industrial diamonds are one of the strategic minerals being stocked by the Government in the present crisis to ensure rapid and efficient armament production. Diamond die making is a trade largely confined to artisans in Switzerland and in certain parts of France. Today, in addition to turning out pilots, we should train expert artisans in diamond die making, for thousands of miles of tremendously small-gauge wire will be needed to make the instruments by which the efficiency and safety of these pilots is assisted.

Jan 1, 1941

By W. T. Olsen, R. Ulcer

WHEN a liquid alloy freezes, the solid first formed usually differs widely in chemical composition from that last formed, so that there is segregation in the alloy as cast. For example in the copper-nickel system (fig. 1) the first solid formed from a liquid containing 55 atomic pct Cu may contain as little as 38 pct Cu, while the last must contain well over 55 pct. Three factors may act to decrease segregation from the maximum possible. 1. Diffusion in the cooling solid tends to make the phase homogeneous, decreasing segregation. This may be important at slow rates of cooling. 2. Segregation is impossible without diffusion in the liquid. At extremely rapid rates of cooling there may not be enough time to allow maximum segregation. 3. Supercooling delays nucleation to temperatures well below the liquidus thereby decreasing segregation. Hence the first nucleus in the copper-nickel system may contain well over 38 pct Cu. At sufficient supercooling the first nucleus may form below the solidus, in which case there is no reason to expect any segregation whatever. From these considerations, we could predict that at sufficiently low rates of cooling the alloy would be unsegregated because of factor 1 and at sufficiently high rates of cooling there should also be no segregation because of factors 2 and 3. Considerable segregation should occur only at intermediate rates of cooling. We have demonstrated experimentally that segregation can be completely suppressed by rapid rates of cooling. For the alloys studied, however, these rates are too great to be attained in any commercial practice. An alloy of 55 atomic pct Cu, 45 atomic pct Ni was frozen by cooling at varying rates. The degree of segregation in the solid was determined by X-ray diffraction photographs. Slow rates were obtained by slowly cooling the furnace containing the liquid alloy; fast rates by pouring or ejecting droplets of the alloy into water or iced sodium hydroxide solutions. The cooling rate of the droplets can be cal-culated from their dimensions by assuming reason- able values of thermal conductivity.' The experi-ments were repeated with an alloy of 16.5 pct Cu and 83.5 pct Au. A single experiment also showed a 50 atomic pct Bi-Sb alloy had no segregation at the most rapid quench. The position of back-reflection X-ray diffraction lines is a highly sensitive function of the lattice constant, which in turn depends on the chemical composition of the phase. A phase of varying composition will give broad diffraction lines. By measuring the edges of these lines and making suitable corrections for intrinsic line width, it is possible to determine the range of lattice constants represented. These can be converted to chemical compositions from a lattice constant vs. composition curve. Results are shown in table I. In the copper-nickel system the greatest segregation is found at the slowest cooling rates, where the lowest percentage of copper theoretically possible is found. In the copper-gold system, on the other hand, the degree of segregation is decidedly less at the slowest rates of cooling, being greatest at 11,100°C per sec. At no rate is the theoretically lowest percentage of copper (12 pct) found. At the rates of cooling found in sand and die castings the degree of segregation is large and depends little on the rate of cooling. Acknowledgment Most of the material in this paper is abstracted from a thesis presented by William T. Olsen, Jr. in 1948 in partial fulfillment of the requirements for the degree of Master of Science at the University of California.

Jan 1, 1951

By U. F. Kocks

SINGLE slip and a single parallel array of edge dislocations have been obtained in silicon single crystals by homogeneously bending them in a four-point dead-loading device at 1000°C around the [211] axis with [253.] as the tensile axis which encloses an angle of 40° with the glide plane. Other orientations or lower temperatures proved unsuitable. The homogeneity of the bending was checked by the method shown in Fig. 1. The chemically polished specimen was exposed to parallel light from a microscope-stage lamp. The sharpness of the focus of the reflected light is an approximate measure of the circularity of the sample. This method permitted the determination of the actual radius of bent specimens within 10 pct accuracy. The etching solution developed to show up dislocations consisted of the following volume parts: 2 HF, 1 HNO,, 2 CH,COOH, 1 a solution of 5 wt pct of CuNO, in water (Rosi'). The acetic-acid content was adjusted to produce fine well-defined etch-pits in about 2 min at room temperature. The effectiveness of the etch did not depend on the crystal-lographic orientation of the face etched. The number of etch pits produced after a given deformation was checked in the usual way against the Cahn formula' and showed good agreement. As it is to be expected from the orientation of the primary system there are slip steps on the top and bottom faces but not on the side faces (perpendicular to the bending axis), whereas etch pits appear on the side faces but not on the top and bottom faces. This is different only for occasional dislocations of a secondary glide system. All the micrographs included have been taken in places where the most of secondary glide could be seen. From this it is evident that in the homegeneously deformed region the number of secondary dislocations was less than 1 in 1000 of the primary type. Dislocation Distribution—A series of tests with varying amounts of deformation is shown in Figs. 2(a-c). An observation that can readily be made from these pictures is that the linear density of dislocations within slip lines is relatively constant and independent of the amount of deformation. "Slip line" in this context is understood to mean a line that is a straight connection of individual etch pits. The heavily pitted bands which can be seen in each of these three pictures may be resolved fairly definitely, at higher magnifications, into many "slip lines" the distance between them being of the order of 0.5p The distance between dislocations in slip lines is of the order of 2p and it is also fairly constant in going from the neutral zone outward. The higher over-all dislocation density in the outer regions of any sample and the higher total number in a more heavily deformed sample, are effected by a larger number of "slip lines." The relative constancy of the dislocation distance within an individual slip line is surprising. The absence of pile-ups" may imply, if there is no rear- rangement on unloading," that there are no substantial obstacles to slip in this case. It seems that the equilibrium distribution of the dislocations in each active slip plane under the higher external stress on

Jan 1, 1959

By M. E. Learmont, R. J. Lipp, I. Iwasaki

In the selective flocculation of iron ores, the concentration of alkaline earth ions in pulp solutions plays a critical role. Sodium silicate, alone or with sodium tripolyphosphate, has been used as a dispersant. When Ca+ + concentration exceeds 15 to 20 ppm, however, only a strong complexing agent, such as ethylenediaminetetraacetate (EDTA) was found to be effective (Heerema, Lipp, and Iwasaki, 1979). Some iron ores release Ca+ + in excess of 20 ppm. With ores that contain gypsum, the Ca+ + concentration may reach several hundred ppm. The purpose of this investigation was to compare the effectiveness of EDTA with nitrilotriacetate (NTA) in countering the adverse effects of Ca+ +, particularly at high Ca+ + concentrations. Emphasis was placed on the use of NTA since it is more cost-effective than EDTA. It is also used in detergents in some countries (Malaiyandi, Williams, and O'Grady, 1979). NTA, like EDTA, forms a soluble complex with Ca+ + with a 1:1 molar ratio. Its structure and the value of log Kca are given below together with EDTA (Shibata, 1963). [ ] For experimental materials, an equal weight mixture of Lac Jeannine hematite and a high-purity quartzite from Thompson, MN, both ground to - 30 µm (- 560 mesh) was used. Selective flocculation test conditions and procedures were identical to those used in previous investigations (Heerema, Lipp, and Iwasaki, 1979). The optimum level of starch addition for the above mixture was determined to be at 300 g/t (0.6 lb per st). Initially, a series of selective flocculation tests were performed on the mixture pulped with 10-3M CaC12 (40 ppm Ca + +) at pH 11. With no NTA present, flocculation of the entire suspension resulted. The selectivities achieved in tests with 90, 100, and 150% of the stoichiometric amount of NTA were virtually identical to each other and also to the selectivity of separation obtained in the absence of Ca+ + Such an observation could have been expected since Ca+ + concentrations up to a few ppm may be tolerated in selective flocculation (Krishnan and Iwasaki, 1982). A similar series of tests were performed at 10-2M CaC12 (400 ppm Ca+ +). The results are shown in Fig. 1 as grade¬recovery curves. For comparison, the results obtained in the absence of Ca++ are included. At 90% of the stoichiometric amount of NTA, a large enough concentration of uncomplexed Ca+ + was left in solution to cause indiscriminate flocculation. Note in this figure that NTA is capable of countering the adverse effect of Ca+ + even at this high concentration when it is used in excess of stoichiometric amounts. The free Ca+ + concentrations at 100 and 150% are calculated to be 2.5 and 0 ppm, respectively. [ ] The relative effectiveness of NTA and EDTA was then compared at 100% of the stoichiometric amount using 10-2M and 10-3M CaCI2 (Fig. 2). EDTA appears to be slightly more effective than NTA. The free Ca++ of 0.02 ppm in 10-2M CaC12 with EDTA compared to 2.5 ppm free Ca+ + with NTA might account for the difference. As evident, prohibitively high additions of EDTA and NTA were required to complex high concentrations of calcium ion. The use of both of these agents would result in the accumulation of complexed Ca+ + in recycle water.

Jan 1, 1985

By John K. Hammes

INTRODUCTION This introductory paper presents a description and definition of what the finance function is and what it specifically means for the mining industry. In its simplest terms, finance is, "management of money matters". As an area within the discipline of business administration it draws heavily on the related fields of economics and accounting, and to a lesser extent on marketing and production. MINING FINANCE DEFINED In preparing to write about what finance means to the mining industry, I asked a number of mining people the question, "What does mining finance mean to you?" Most responded that mining finance was "How a company borrowed money for mine development", and perhaps half those questioned included "raising equity" in the definition. It is not surprising that the mining industry concept of finance is the providing of funds needed for the objectives of the business, for that was once a view shared by authorities in the field of business administration. Further, it is certainly the area where much of the emphasis has been placed in the past ten to fifteen years as the industry struggled with the development of more remote and more refractory or lower-grade orebodies while profitability and internal cash flow were below expectations. No wonder project finance became such a popular topic. Twenty years ago it is probable that the emphasis would have been on mine valuation, for that subject was the area of finance then most often examined in industry publications. Papers concerning the pros and cons of payback, internal rate of return, and discounted cash flow appeared regularly. Let's examine the following situations, each the result of a financial decision: - Funding the exploration program in a developing country was accomplished by buying the next six-months budget needs in local currency. One week later the currency devalued 30 percent. If the purchase had been delayed or the local currency borrowed short term, a substantial saving would have been made in funding the program. - A major mining company borrows heavily to finance both expansion of its primary mining business and its entry into several new industry segments. When markets for all of the commodities it produces turn down for a prolonged period, there is concern over the adequacy of cashflow to cover debt service in addition to other company needs. The company's financial officers, however, had arranged very large committed credit facilities from numerous financial institutions which assured the availability of funds for several years. This enabled the company to implement a strategy to conserve cash, sell assets and survive until conditions improved. Further, short term suppliers of credit also were comfortable with the assurance that longer term credit was there to support them. -A medium size mining company financed several mines independently with limited obligations on the part of the parent company. The company decided to refinance the operations under one agreement. More flexible terms, lower interest cost and a longer tenor financing were achieved in return for assuming the risk as a direct obligor. - The exploration and development group of a large mining company proposes to develop a new mine in a country in which the company does not presently operate. When the investment is rejected they are advised that one reason was that the reinvestment assumption inherent in the discounted

Jan 1, 1985

By Peter J. Szabo

INTRODUCTION The time period from the detailed feasibility study to the post investment audity usually ranges from three to eight years depending upon the nature of the mining project considered. It is the only after the post investment audit that we know the adequacy of the assumptions made concerning operational risk assessment in the detailed feasibility or acquisition economics. The post investment audit results from numerous mining projects can best be described by a verse by John Greenleaf Whittier's Maaud Muller. It reads "For all sad words of tongue or pen the saddest are these 'It might have been!"' Dissecting the negative results of numerous mining projects we find faulty assumptions concerning markets, geology, capital investment and operational risk assessment. Although in hindsight many of these assumptions could have been considered impossible or impracticle to have forecast with any degree of certainty, we find that refined assumptions concerning operational risk assessment could have been made with only a modicum of additional "Due Diligence". Anyone who invests in a mining property should employ a much higher discount rate of future cash flow, (usually in the minimum range of 25%-30%), than he would expect from such safe investments as Treasury Bills or high grade Utility Bonds. The nature of this steep discount translates to a large uncertainty concerning the timing and actualization of assumptions contained in the detailed feasibility study. We must remember that when a project gets beyond 20 years, any contribution to the value of the project of cash flow is minimal due to the nature of the discounting process. Thus for each full or partial day lost in the development or early operation stage of a project, the financial impact will be greater than similar lost days later on in the project. Adequate operational risk assissment is particularly critical when bidding on competitive tenders for coal deposists in remote locations such as the Bowen Basin in Queensland, Australia. Because of the market attractiveness of these coal deposits for supplying end users in the Far East, Middle East and Europe, state governments require competitive tender biddings via the Authority to Prospect process. Front end bonuses and super royalty payments must be commited before the actual mining conditions are known. Time to submit firm offers from the actual request for proposal vary from 90 to 120 days. Thus any operational risk assessment must be detailed, realistic and reflective of the actual project. When one searches the literature, one finds limited qualitative data on operational risk assessment in valuation papers. Usually this facet of valuation takes a secondary role to such areas as reserves, markets, and environmental considerations. When one comes to the question of operational risk assessment more often than not one finds the use of "rules-of-thumb", such as tons per man shift, average production, average seam height, etc., are used to forecast results on which banks and other financial institutions are required to make investment decisions. Because of the extremely competitive environment of the 1970's and 1980's numerous financial institutions approved loans without adequate "Due Diligence", and are currently paying a steep price in terms of non performing loans and charge offs. One must always remember that each operation is unique with its own characteristic

Jan 1, 1985

By J. A. Snyder, W. L. Finlay

G. Edmunds—Solid solubility is considered to be of either the interstitial or the substitutional type. Is it possible, in a binary alloy as the simplest case, that some of the solute atoms are present in the normal lattice sites (substitutionally or filling lattice vacancies) while simultaneously others are in interstitial positionss One might even ask whether a distribution of the two types may be the normal situation. H. M. Meyer—Metastable states of interstitial atoms occupying vacant lattice sites possibly occur as well as of substitutional atoms squeezed in between regular matrix positions. However (as we know since Hume-Rothery), the solute atoms choose between the two kinds of solutions; consequently, every solute will be unequivocally either substitutional or interstitial in the equilibrium state of the solid solution. M. Balicki—In view of the fact that the authors apparently correlate the analysis of the alloys at the ingot stage with the properties exhibited at the testing stage, I would like to ask whether this is a fully justifiable procedure. In other words, how good are their determinations of solute concentration for correlating them with the mechanical properties. The answer to this question may explain some of the divergencies. Assuming good enough homogenization of the samples and exact determination of mechanical properties the position of the plotted experimental points will depend solely upon the accuracy of composition determination. If this is not accurate, say due to loss or pickup of elements during processing from the ingot to the testing stage, or due to a systematic error in the method employed for obtaining solute concentration data, the points will deviate from their true position and may align themselves along a different curve than the one expected. H. V. Kinsey—We have been studying the creep-rupture properties of titanium-base alloys at 1000°F. In the course of this work, anomalies in behavior of the alloys that would suggest that the material under test was becoming stronger as the test progressed have been observed. If this was so, the most likely explanation that we could think of was that the test bars were absorbing oxygen and nitrogen from the air during the test and were thereby becoming strengthened. In an attempt to determine the strengthening effect of absorbed oxygen and nitrogen the following experiment was conducted. A length of cold-rolled titanium was supplied by the E. I. du Pont Co. Two test bars, having a 1/4 in. diam gauge length, were prepared from this material. One bar was tested in the as-received condition. The second bar was heated in air at 1550°F for 100 hr and subsequently air cooled prior to testing. A testing temperature of 1000°F was employed. The results of these tests are tabulated in table 11. In the author's opinion, is it reasonable to assume that the bar that was exposed to air at 1550°F for 100 hr was stronger because it absorbed oxygen and nitrogen from the air during this heat treatment? W. L. Finlay (authors' reply)—Direct experimental evidence for or against Mr. Edmunds' interesting suggestion will probably never be available. It seems possible, however, that mixed interstitial-substitutional solid solution might well occur with interstitial elements. The less likely possibility of interstitial solution of a normally substitutional element like copper in aluminum was recently discussed at length by the

Jan 1, 1951

By Lawrence Addicks

ONE of the properties of copper, which has done much to give it its present prominent place among the useful metals, is its electrical conductivity, a property which has now become the chief criterion of 'the value of the commerical product. In pursuance of that distinctively American principle that, 1' the best is none too good," metal of the highest conductivity is usually called for even where such extreme purity is of no advantage, for instance, in the making of brass and other alloys. The average brass-founder feels nervous unless his copper is so very pure that it shows a conductivity of 99 or 100 per cent., while the character of the zinc used is usually overlooked in his anxiety. Electrolytic refining has made it possible to produce copper of a' very high degree of purity, the metallic impurities averaging but a few thousandths of 1 per cent.; oxygen, usually present in the form of cuprous oxide, bringing the total up to about a tenth of 1 per cent. The published data bearing upon the relationship between chemical purity and electrical conductivity is, however, very scant,' nearly all the work that has been done having dealt with alloys carrying considerable quantities of the foreign elements. In this paper I have brought together the results of experiments extending over a period of several years that have been carried out with the idea of determining the amount of various elements which would lower the conductivity 3 or 4 per cent.-a series of impure coppers rather than alloys. There are many precautions necessary to keep the conditions

Mar 1, 1905

By Robert Lowrie

Nine intermetallic compounds were tested in tension at various temperatures. Seven exhibited extensive plastic deformation at elevated temperatures. Correlations of tensile strength and elongation are attempted with melting (decomposition) temperature, valence electron configurations of the component elements, heat of formation, crystal structure, density, and volume decrease accompanying compound formation. A LTHOUGH intermetallic compounds have been -tX known for many years, the study of their mechanical properties, particularly in tension, is just beginning. The problem has been unattractive because of the well-known, erratic behavior of brittle materials tested in tension. The strong influence of surface or internal flaws as stress raisers in non-ductile materials and the effect of eccentricity of loading in superimposing bending stresses on the state of tension in the specimen are extremely difficult to mitigate and impossible to completely eliminate. Thus, tensile properties determined for brittle materials, such as intermetallic compounds at temperatures low in comparison to their melting points, are at best only general guides to the values to be expected in an ideal test of a perfect specimen of the material. It is, nevertheless, surprising that apparently no attempt was made to follow up the pioneer work of Tammann and Dahl1 in this field. Working with crude apparatus, these investigators succeeded in showing unequivocally that at temperatures sufficiently close to their melting points (from 75" to 400°C for the compounds tested) intermetallic compounds did exhibit plasticity. This was indicated by the appearance of slip lines on the surface of the specimen. No observations of strength were made in these tests, which were of a compressive or indentation type. Rossi2 in 1932 attempted to study the physical and mechanical properties of single crystals of a group of intermetallic compounds. However, he was able to prepare only one material, Cu2Z8,, in the form of large, defect-free, single crystals. Thus, he was able to report only the relative fragility of the compounds at room temperature. He reported one compound, Ag,Zn,, to be somewhat plastic at room temperature and Cu,Si to be friable, the latter in agreement with results reported herein. Although test results are available only in classified literature, it has also been announced that MoSi, possesses some ductility at elevated temperatures." In 1948 and 1949 Savitskii and Savitskii and Baron -ublished their work on the hot extrusion of Mg-Zn, Al-Mg, and Cu-Zn compounds. Under the favorable state of stress existing for this process MgZn, MgZn,, MgZn,, ß (Al-Mg), ? (Al-Mg) and 0 (Cu-Zn) could be reduced by amounts up to 90 pct at elevated temperatures. These authors also report that hardnesses of Mg-Zn compounds decrease from room temperature values of about 300 kg per sq mm to 30 to 50 kg per sq mm at 325°C. They found that alloys consisting solely of one Mg-Zn compound were most resistant to softening on heating, mixtures of a compound and eutectic less resistant, and mixtures of two compounds least resistant. The more rapid softening of mixtures of

Jan 1, 1953

By R. Hastings Keller, Ralph E. Esarey

Oil and gas activities in Indiana during 1943 continued to decline at about the same rate as in 1942. New development, production, and prospecting, all showed the results of Federal regulation, low price for crude oil and shortages of labor and materials. Several local stripper-well operations were shut down, but no large-scale abandonment has occurred as yet. During the year, 277 holes were drilled for oil and/or gas, of which 99 were completed as oil wells, 19 as gas wells and 159 as dry holes. This record was a decline of 21 per cent over last year in the total number of completed tests, 20 per cent in the number of oil wells and 9.5 per cent in the number of gas wells. As in the previous year, most of the drilling (82 per cent) was in the southwestern part of the state, Gibson County ranking first, with 77 completions and 49 oil wells. Posey County was second, with 59 completions and 20 oil wells. The remaining 18 per cent of the drilling was in the old Trenton oil and gas area. The total footage drilled during the year was 482,799 ft., a decline of 18 per cent from the previous year. Of this, 146,559 ft. was wildcat footage. The total initial production of the oil wells completed was 6362 bbl. and of the gas wells was 2,562,000 cu. feet. Three tests in the old Trenton area were drilled into the Cambrian and reported nothing more than tar residue. A Devonian test was to be made in the Griffin field in the Wabash River but owing to the delay caused by Federal restrictions this test did not get started in 1943. It is expected to spud in March 1944. The new discoveries in 1943 were virtually all in the southwestern part of the state, and all, so far, one-well pools, except the North Owensville pool, in Gibson County. The latter was brought in during the month of February and by the end of the year nine wells were producing in the pool, with a reported initial yield of 1260 bbl. per day. By the end of the year it had a daily average production of 401 bbl. and an accumulated production of 39,129 bbl. The average gravity of the oil is reported to be 35.6. On the Ohio-Indiana state line, early in 1943, a new pool was opened up in the old Trenton area. The discovery well was on the Ohio side of the line. An offset well was completed on the Indiana side, with an initial yield of 64 bbl., and settled down to 5 bbl. per day. This well produced 1154 bbl. up to Dec. 31, 1943. There was no further development here, because of the Federal Conservation Order M-68, restricting drilling to one well on 40 acres. The development pattern usually followed in this area is one well to 5 acres. The E. Rogers field was extended by one pool (Table 4). Most of the development in the oil-field pools during the year took place in the Kirksville pool, in Gibson County, and the Caborn pool, in Posey County. The crude-oil production in 1943 was approximately 5,273,000 bbl., a decline of 29 per cent from the previous year. The Griffin field, of Gibson and Posey Counties,

Jan 1, 1944

By J. D. Price, W. M. Bertholf

Making maximum possible use of available equipment and material, CF&I placed a high-efficiency, high-capacity washery unit in the existing buildings to gain simplified operation, reduced manpower requirements, raised efficiency, and boosted production. THE central washing plant of the Colorado Fuel & Iron Corp. was first operated in 1918 to furnish coal for two 60-oven batteries of Koppers design. Prior to that time the coke for the blast furnaces had been secured from a number of beehive operations, some with their own washeries. The original washery had four Elmore jigs, which did not do as well as had been expected. In 1923 the jigs were taken out and replaced by Deister Plat-O tables, with various changes in auxiliary equipment. In 1936 the throughput of the plant was considerably increased by the installation of vibrating filters for recovery and drying of fine coal, thereby reducing a large recirculating load of fine coal which passed through the screens of the Carpenter driers. In the late 1940's it became evident that something would have to be done to keep the washery abreast of progress at Pueblo and other washeries. Coal requirements were nearly two and one-half times the original requirements of the 120 small ovens, as additional ovens had been built in 1930, 1938, and 1945, whereas no additional coal washing capacity had been added since the 1936 modifications. Much of the equipment, moreover, had seen better days. One answer to the problem was to build a new and completely up-to-the-minute plant, with sep- arate sections for coarse, medium fine, fine, and very fine coal. On the other hand, it might be financially more profitable to place a high-efficiency, high-capacity unit in the existing buildings. The washing problem at Pueblo is not unique, but it is approached differently. There are no established specifications for coke ash and sulphur. The plant is operated on the principle that if it is more economical to wash it out than to slag it out, wash it out; otherwise, send it on to the blast furnaces. With coals at the Pueblo plant costing what they do, the benefits of washing at a low gravity are questionable. Hence the primary problem is to eliminate the high-ash components and retain all the low and medium-ash components. Sulphur is no problem at all, averaging 0.6 pct in the coke. Since a good proportion of the free impurity in the coals is as large as the coal or bone or larger, it appeared that it would be safe to go to jig washing and discontinue crushing the coal before washing, as had been the practice with the tables. This would boost the throughput. It might also decrease manpower requirements and washing costs considerably. It was assumed at the start and has been demonstrated in the first year of operation that a jig will do as well on the fines as the tables had been doing. It would not be necessary to discount any gains due to increased efficiency in washing the coarse material because of incapacity to wash the fines. By washing at —2+0 mesh it would be possible to dewater, by screening, a considerable tonnage satisfactorily, for example, at —2 + % or —2 + l/4, and then crush it in a hammer mill. The —?+20 could be dewatered in centrifugal driers and the remain-

Jan 1, 1955

By C. A. Hartnagel

During- the past 10 years the annual production of petroleum in New York has averaged close to 5,000,000 bbl., the total for the period being 49,881,000 bbl. In 6 of the 10 years, the production was slightly in excess of the 5,000,000 mark. The 1944 production of 4,697,000 bbl. represents a 7 per cent decline from the previous year. Of the total 1944 output, the Allegany County district, which includes two small areas of Steuben County, contributcd 3,614,065 bbl., a decline of 5 per cent from 1943, and the contribution of Cattaraugus County, which represents the northern extension of the Bradford pool of Pennsylvania into New York was 1,082,935 bbl., a decline of more than 14 per cent. Since March 1942, the posted price of New York crude oil has remained at $3.00 per bbl. On lug. I, 1944, a Federal subsidy of 75¢ per bbl. was granted to oil producers, thus making the price actually $3.75 per bbl. Since all of the oil produced in New York comes under the designation "stripper well operations," it is entitled to the Federal subsidy. During the last few years there has been little change in the number of wells drilled annually. In the Allegany field, which accounts for three fourths of the oil produced in the state, 1240 wells, including water-intake wells, were drilled during 1944 as compared with 1223 in 1943. There was no marked increase in the number of wells drilled after granting the subsidy of 75¢ per bbl. of oil on Aug. I, the increase being but 14 wells during the last half of the year over the preceding six months. In flooding operations it is not to be expected that even a substantial increase in the price of crude oil will be reflected quickly in an increase of the number of wells drilled or in a marked increase in production of crude oil. In flooded areas, oil is obtained through a program extending over a number of years. This program involves the drilling of the water or input pressure wells, drilling of the oil wells, building up the oil flood to maximum production, and finally the watering out of the well when the amount of oil produced in proportion to the water becomes so small that pumping is no longer profitable. The various operations may extend over a period of 10 years or more, during which time the price of crude may have fluctuated greatly. Although the rate of production can be controlled to a limited extent, it is evident that a flood when once begun must be continued regardless of the price of crude. During the past seven years New York crude has had a price range from $1.68 per bbl. in 1938 to the present price of $3.75 per barrel The field pattern now in general use for wells in a flood project is the "five-spot." Under this arrangement, the lease is divided into squares with a water well at each corner and an oil well in the center. In the all-over pattern of the lease each oil well is acted upon by four water wells and each water well supplies part of the pressure to four oil wells. Spacing between the input water wells and the oil wells usually varies from zoo to 225 ft. or, on an acre basis, there is one oil well and one water well for each 2 1/2 acres. In recent years there has been a tendency to increase

Jan 1, 1945

By Charles C. Templeton

Any explanation of the nature of multiphase fluid flow through porous media must ultimately involve a knowledge of the mechanism of such flow through the individual pores of the medium. To provide quantitative information of the latter type, a study was made of gas-liquid and liquid-liquid displacements in single uniform Pyrex capillaries with diameters as small as 4 microns. Quantitative observation of air-liquid displacements with zero contact. angle indicates the adequacy of a model based on Poiseuille's Law and the independence of capillary pressure and interfacial velocity. Consequently, this work discounts previous claims that flow is abnormally retarded in very small capillaries. For the displacement of a very viscous oil by water in a capillary initially filled with water, flow is faster than predicted by the above model. This behavior is probably due to the existence of a thin annular film of water between the oil column and the capi1lary wall as postulated by Yuster. INTRODUCTION The need for experimental observation of the microscopic nature of multiphase fluid flow, to further the understanding of the results of macroscopic flow investigations, has been previously recognized. Chatenever and Calhoun1 in connection with the API Project 47B have extensively studied the flow of fluids through layers of glass or lucite spheres between glass or lucite plates. Lowman2 prepared an interesting film concerning flow in a single capillary, using an apparatus which made a moving interface appear stationary in the field of a microscope. The purpose of the present investigation was to deter- mine what contribution might be made to this field by comprehensive quantitative observation of gas-liquid and liquid-liquid displacements in single capillaries of uniform, very small diameter. The techniques used are similar to those of Lowman but incorporate improvements necessary for quantitative work. Quantitative observations must begin with fluids of simple chemical composition to provide a basis for analyzing the more complex behavior that may be expected with natural reservoir fluids. However, some qualitative observations on systems involving crude oils are presented. Experiments of this sort involve the observation of the velocity of the interface separating two fluids, and have been performed in horizontal or vertical capillaries by several investigators.3,4,5,6,7,8 The most general treatment of their mechanics, by Brittin,9 involves forces due to capillarity, viscous resistance, gravity, an "end-drag" effect, and the rate of change of momentum of the capillary contents. Since the range of pore diameters of interest in petroleum reservoirs is about 0.1 to 100 microns, it was desired to perform these experiments in the smallest capillaries possible, to ascertain whether capillary diameter had any effect on the existing theory based on data from larger capillaries.* It was also important to be able more systematically to vary the direction and rate of displacement than was done by previous investigators. Finally, to concentrate attention on viscous and capillary forces by eliminating gravity as a parameter, this study involves only horizontal capillaries. The work of Eley and Pepper' with a "large" (0.766-mm diameter) horizontal capillary is the previous investigation which is most similar to the present method of quantitative observation. Here capillaries with diameters as small as 4 microns will be studied.

Jan 1, 1955

By D. N. Seidman

In the course of a study of the electronic and thermodynamic properties of Pb-Se alloys it was found necessary to have an accurate knowledge of the phase diagram. However, the literature is in disagreement as to whether or not a monotectic reaction occurs in the lead rich portion of the phase diagram. Pelabonl reported only a two-phase region consisting of lead-rich liquid and solid PbSe extending from almost pure lead to the compound PbSe, and gave the melting point of PbSe as 1065°C. The data of Friedrich and Leroux2 are in general agreement with this type of diagram, with the melting point of the compound being 1088°C. However, Nozato and Igaki by inverse rate thermal analysis observed a monotectic reaction isotherm exlacing at 860°C with a monotectic composition of 20.5 at. pct Se. The miscibility gap in the liquid state extends from 7.5 to 20.5 at. pct Se. Hansen and Anderko4 accepted Nozato and Igaki's phase diagram in the region of the lead-rich monotectic. To reinvestigate this portion of the phase diagram, both thermal analysis and metallographic examination of various compositions were performed. The thermal analysis apparatus was constructed according to the specifications of the National Bureau of Standards. A t/t-l pct Rh thermocouple was calibrated against the melting point of copper (NBS), zinc (NBS), and antimony (A. D. Mackay), the emf being measured with a Rubicon Type B potentiometer sensitive to lpv. The absolute accuracy of the thermal analysis obtainable with this system is ± 0.5oC. Starting materials were semiconductor grade lead and selenium purchased from the American Smelting and Refining Co. Both elements were 99.999 pct pure with only trace impurities detected upon spectroscopic examination. One hundred galloys were sealed in quartz crucibles with a central thermocouple well under a vacuum of less than 1 p. This procedure prevented any composition change due to vaporization during the run. Cooling curves were obtained on the alloys listed in Table I. Data was taken by the direct method at cooling rates ranging between 1/2 to 2°C per min. The alloys were heated well above the liquidus and shaken vigorously to insure homogeneity. No evidence of an arrest indicative of the monotectic reaction was observed, and the two-phase region reported by Pelabonl and Friedrich and Leroux? was confirmed in general, although our data give higher liquidus temperatures than Friedrich and Leroux. The melting point of stoichiomet-ric PbSe determined for two different samples was 1080.7 0.5oC. The results of this investigation are compared with Nozato and Igaki's data in Fig. 1. To Complement the thermal analysis data, an 86 at. pct Pb specimen was examined microscopically. This composition was in the center of the miscibility gap reported by Nozato and Igaki.3 The alloy was heated to 1000°C, held for 1/2 hr, and water quenched. The specimen was polished using standard metallographic techniques for lead. The alloy was etched with an acetic-nitric acid etchant for 10 min at 45°C. Microscopic examination did not indicate the existence of two separate layers or solidified droplets imbedded in a matrix, as would be expected if a miscibility gap were present. The mi-crostructure shown in Fig. 2 consists of uniformly dispersed, dendritic PbSe in a lead-rich matrix.

Jan 1, 1962

By R. Hastings Keller, Ralph E. Esarey

Oil and gas activities in Indiana during 1943 continued to decline at about the same rate as in 1942. New development, production, and prospecting, all showed the results of Federal regulation, low price for crude oil and shortages of labor and materials. Several local stripper-well operations were shut down, but no large-scale abandonment has occurred as yet. During the year, 277 holes were drilled for oil and/or gas, of which 99 were completed as oil wells, 19 as gas wells and 159 as dry holes. This record was a decline of 21 per cent over last year in the total number of completed tests, 20 per cent in the number of oil wells and 9.5 per cent in the number of gas wells. As in the previous year, most of the drilling (82 per cent) was in the southwestern part of the state, Gibson County ranking first, with 77 completions and 49 oil wells. Posey County was second, with 59 completions and 20 oil wells. The remaining 18 per cent of the drilling was in the old Trenton oil and gas area. The total footage drilled during the year was 482,799 ft., a decline of 18 per cent from the previous year. Of this, 146,559 ft. was wildcat footage. The total initial production of the oil wells completed was 6362 bbl. and of the gas wells was 2,562,000 cu. feet. Three tests in the old Trenton area were drilled into the Cambrian and reported nothing more than tar residue. A Devonian test was to be made in the Griffin field in the Wabash River but owing to the delay caused by Federal restrictions this test did not get started in 1943. It is expected to spud in March 1944. The new discoveries in 1943 were virtually all in the southwestern part of the state, and all, so far, one-well pools, except the North Owensville pool, in Gibson County. The latter was brought in during the month of February and by the end of the year nine wells were producing in the pool, with a reported initial yield of 1260 bbl. per day. By the end of the year it had a daily average production of 401 bbl. and an accumulated production of 39,129 bbl. The average gravity of the oil is reported to be 35.6. On the Ohio-Indiana state line, early in 1943, a new pool was opened up in the old Trenton area. The discovery well was on the Ohio side of the line. An offset well was completed on the Indiana side, with an initial yield of 64 bbl., and settled down to 5 bbl. per day. This well produced 1154 bbl. up to Dec. 31, 1943. There was no further development here, because of the Federal Conservation Order M-68, restricting drilling to one well on 40 acres. The development pattern usually followed in this area is one well to 5 acres. The E. Rogers field was extended by one pool (Table 4). Most of the development in the oil-field pools during the year took place in the Kirksville pool, in Gibson County, and the Caborn pool, in Posey County. The crude-oil production in 1943 was approximately 5,273,000 bbl., a decline of 29 per cent from the previous year. The Griffin field, of Gibson and Posey Counties,

Jan 1, 1944

By J. W. Downey, J. B. Darby, L. J. Norton

THE only previous investigation of the phase equilibria in the Ta-Pd system was reported by Greenfield and Beck.1 Their work (actually a portion of a much broader survey) was limited to the composition range 50 to 75 at. pct Ta and to a single temperature, 1000°C. The results indicated that no intermediate phases were present at this temperature. They pointed out that this was an unexpected result in view of the fact that niobium, which belongs to the same group in the periodic table as tantalum and has essentially the same atomic size, forms a o phase with palladium.' Also, tantalum in combination with rhodium,' iridium,' or platinum' stabilizes the s phase. By analogy, the Ta-Pd system would also be expected to contain a s phase. The present investigation was therefore undertaken to explore more fully the phase relationships in this system. Alloys were prepared by arc melting on a water-cooled copper hearth in an argon-helium atmosphere. The purity of the starting materials was greater than 99.9 pct. The weight losses on melting were less than 1 pct and therefore the alloys were not analyzed chemically. Specimens were wrapped in molybdenum foil, encapsulated in quartz capsules under a vacuum of at least 1 x 10-5 mm of Hg, annealed as indicated in Table I, and water quenched. Optical and X-ray metallography were used for identifying the phases present in the annealed and quenched alloys. The alloys were resistant to attack by several acids; however, a sodium cyanide electroetch and an immersion etch containing 1 part HF, 1 part HNO3, 2 parts H2SO4, and 5 parts H2O by volume were found satisfactory. The X-ray diffraction patterns were taken with a Straumanis-type Debye-Scherrer camera and filtered copper or chromium radiation. A summary of the phases found in this investigation is presented in Table I. No attempt was made to determine the composition limits of the various phases. The present results indicate that this system consists of two terminal solid solutions separated by at least four intermediate phases at the approximate compositions Ta3Pd, -TaPd, TaPd,, and TaPd3. The Ta-rich solid solution, containing less than 10 at. pct Pd at 1150°C, is in equilibrium with a o phase which is stable in the vicinity of 25 at. pct Pd. The latter phase is also in equilibrium with a bct phase at the equiatomic composition. At high temperatures it appears that the Pd-rich solid solution extends to at least 66.6 at. pct Pd and is in equilibrium with the bct phase. When annealed at 900°C, a sample containing 66.6 at. pct Pd transformed to an unidentified phase designated as X. An X-ray diffraction pattern of this phase contained sharp low-angle lines while the high-angle lines were characteristically diffuse. The observed d-spacings and relative intensities for lines in the low-angle region are presented in Table 11. In the vicinity of 70 at. pct Pd an intermediate phase having the TiA13-type structure is formed. It is stable to at least 1100°C, and presumably dissolves congruently into the ter-

Jan 1, 1963

By Klaus M. Zeitler

INTRODUCTION One cannot discuss the subject of "Raising Capital in the 1990s" without having a crystal ball and a reliable fortune teller. This discusses "Raising Capital for the 1990sW, which is what Metal1 Mining Corporation did in 1987. We raised (3166 million in an IPO (initial public offering) that was originally planned for only some (375 million. Why did we raise this money? How did we do it, and why was this IPO so successful? The answer to the first question requires a description of the promoter and principal shareholder of Metal1 Mining Corporation, Metallgesellschaft AG. This West Germany company was founded over 100 years ago in Frankfurt as a trading house for non-ferrous metals. It has developed into one of the world's leading firms in the non-ferrous metals industry. The company's worldwide activities in all areas of that business include mining, smelting and refining, the trading of ore, base and precious metals, the production of semi-fabricated and finished metal products, and the provision of engineering, construction and transportation services. Metallgesellschaft AG has also diversified into many other areas, the most significant of which are manufacturing, the production of chemicals, the development and application of technical and chemical processes, the planning and construction of industrial plants, and activities associated with finance, insurance, shipping and freight forwarding, and the provision of barter and countertrade services. The company maintains a network of more than 100 offices around the world; it employs some 25,000 people in its worldwide activities. [Selected financial data, as of September 30, 1987: (MetaUgesellschafl AG) Working Capital DM 8%.6 million CDNS 672.8 million Long Term Debt DM 568.0 million CDNS 426.2 million Sales DM 14.9 billion CDNS 11.2 billion Net Income DM 87.7 million CDN$ 65.8 million Market Capitalization at April 27, 1987: (Metallgesellschafi AG) Outstanding Shares ~,6oo,o0o DM 1,875 million CDNS 1,407 million] For the fiscal year ended September 30, 1987, Metallgesellschaft AG had, on a consolidated basis, net sales of DM13.3 billion, net income of DM100 million and total assets of about DM7.0 billion. Metallgesellschaft AG established the American Metal Company, a predecessor of AMAX Inc. one of the largest ventures undertaken by Metallgesellschaft AG then was the acquisition, through the American Metal Company, of a majority share in the Mexican Penoles mine, a large lead and silver deposit. METALLGESELLSCHAFT AG Figure 1 depicts an overview of Metallgesellschaft AG before and at the time the initial public offering of Metall Mining Corporation's shares took place. It shows that mining was far from the centre of Metallgesellschaft's activities. Therefore, it could not expect to receive an extraordinary amount of board attention. Thus, mining investments not only had to compare well with other mining opportunities, but were in fierce competition with projects from other divisions. In addition, mining was sub-divided into two separate departments -- domestic and international. These two departments had different management styles and diverging interests which resulted in a minimum co-operation between them. The domestic mining department was primarily interested in the survival of the local mines. These mines were characterized by rising operating costs and declining ore grades. It took a special commitment and continued ingenuity to develop and adjust to local conditions, and modern mining and processing technology, in order to remain competitive, or at least survive within the international mining industry. Local management

Jan 1, 1990

By Philip R. Strand

Vermiculite is the name used for those micaceous minerals with a ferromagnesian aluminum silicate composition and the unique property of exfoliating to a low density material when heated. Commercially, the exfoliated products are also called vermiculite, or more exactly, expanded vermiculite. In its exfoliated state, vermiculite serves many markets, chief among them construction, agriculture, horticulture, and general industry. Composition and Properties Vermiculite, in a natural state, has the characteristic mica habit, splits readily into thin laminae, flexible but inelastic. In a mineralogical sense, vermiculite is a hydrated silicate with no exact chemical composition. The structural formula for a macroscopic, trioctahedral vermiculite may be written: [ ] The structure of vermiculite is basically that of a talc, and it could be regarded as a trioctahedral member of the smectite group. Macroscopically, vermiculite displays the prominent monoclinic crystal faces that are commonly marked by lines at 60° and 120°. Hardness varies from 1.5 to 2.8 or more; specific gravities are between 2.1 and 2.8; color is amber, bronze, brown, dark green, or black. When heated quickly to an elevated tempera¬ture, vermiculite expands by exfoliating at right angles to the cleavage, into wormlike pieces (the name vermiculite is derived from the Latin `vermiculare,' to breed worms). This characteristic of expansion, the basis for commercial use of the mineral, is the result of the mechanical separation of the layers by the rapid conversion of contained water to steam. The increase in bulk volume of commercial grades is 8 to 12 times, but individual flakes may expand as much as 30 times. All expansion occurs at right angles to the basal cleavage. Vermiculite may also be expanded by a number of chemical processes such as soaking in hydrogen peroxide, weak acids, and other electrolytes. There is a color change during expansion that is dependent upon the composition of the vermiculite and furnace atmospheres. Heating in an oxidizing atmosphere produces dull gray colors. The iron is generally not oxidized during chemical expansion. The exfoliation of the vermiculite crystal results in large pores being formed between groups of platelets. Thus exfoliation can make available a large increase in void volume without significantly changing the surface area of the platelets. This characteristic is important in the chemical carrier applications of vermiculite. Although there has been much research on the chemical and structural composition of vermiculite, an exact formula and composition cannot be described. This is to be expected since vermiculite derives from a number of different mineral sources. As has been proposed, vermiculite is not a single mineral species, but families of related minerals. Additionally, commercial interest in the end product has resulted in the name vermiculite being applied to the very voluminous, bloated products from calcination of baueritized (bleached) phlogopite. This has also resulted in many names for the specific vermiculite found in a particular deposit. All of this difficulty arises from the nature of its crystal chemistry. Consequently, vermiculite is now thought of as several related variable mineral series rather than a group of related species. The vermiculites have a common silica tetrahedral sheet structure with separating ions. It is now generally agreed that vermiculites must also be regarded as true clay minerals. The properties of the mineral, such as cation exchange capacity, organic complexing ability, and vari-

Jan 1, 1975

By James Hyslop

MECHANIZATION of American coal mining continues to make rapid progress. Economic pressure will compel abandonment of manual methods wherever possible and will also provide the incentive needed for the improvement of machines and mining systems. However, rapid progress may be made along strictly technological lines and at the same time much slower progress in approaching maximum productivly and efficiency. One can well ask, just how efficient are mechanized mines, and to what extent is productivity affected by the mental attitude of management and workers?

Jan 1, 1946