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By Kenneth G. Arne

INTRODUCTION The real problem is finding the "appropriate" financing sources by matching the risk and reward expectations of the various classes of investors and lenders. Generally, lenders who advance funds temporarily are interested in assuming only limited risk and conversely expect to earn only a limited reward. The equity owners on the other hand, are expected to take most of the risk of the enterprise, but should receive a reward commensurate with that risk. In particular they will receive the benefit of the company's increase in net worth over time. MINE DEVELOPMENT CYCLE Consider the development cycle of a mining project beginning with rank wildcat exploration (Figure 1) [ ] Just as different professionals must be utilized at different stages, so must different funding sources be used at different points in the pipeline. Figure 2 shows the general sources of funding: [ ] This concept can perhaps be better understood if we compare the risk with the capital requirements. Suppose each area within a triangle is proportional to the risk taken (see Figure 3): [ ]

Jan 1, 1985

By R. W. Wittkopp, J. D. Stephens

In a device known as the electron-beam microprobe, the mining industry has lately acquired a sophisticated new analytical tool that can dig out answers to a broad range of questions spanning all phases of mining activity. Essentially, the microprobe is a specialized X-ray fluorescence unit that makes it possible to obtain chemical analytical data for volumes as small as 1 cup. With this capability, it can be used both for determining the composition of small inclusions in rocks or metallic products and for monitoring changes in composition that proceed from a reacting surface. At the Research Center of Kennecott's Metal Mining Division, this versatile probe has successfully solved problems in mineral operations ranging from exploration through refining. A few instances of how the probe has been applied at the Center are presented here. In Mineral Exploration-A Good Look Before Leaping Since the objective of mineral exploration is to locate deposits of materials which can be processed at a profit, the mode of occurrence of elements or minerals in the deposits is important.

Jan 1, 1970

By H. W. Turner

THE axis of the middle portion of the Ural mountains is made up chiefly of highly compressed igneous and sedimentary schists, considered of Devonian age by the Russian geologists, with large areas of serpentine (peridotite originally) gabbro, etc., intrusive in the schist series. In addition there are large areas of probably older granitic and gneissic .rocks. The nickel deposits referred to in this paper are found in the Devonian schists and their associated igneous rocks. The gabbro-peridotite intrusions probably took place in late Devonian or early Permian time, inasmuch as the Permian and Carboniferous beds lie at gentle angles on the Devonian series on the west slope of the Urals. Perhaps the first attempt to work a nickel deposit in the Urals was made about 1866 in the Revdinsk district, which is situated southwest of Ekaterinburg. I was informed by a Russian that a wet method of extracting the nickel was tried but was not a commercial success. This deposit has been described by Müller,1 Foullon,2 and Karpinski.3 Beck4 gives an abstract of these papers.

Jan 2, 1914

PAUL D. MERICA,* Washington, D. C. (written discussion t).-This paper is a discussion of some of the results of a recent investigation1 of Prof. Zay Jeffries, and of his interpretation and generalizations from these results. This work I have followed with great interest and with appreciation of its value in clarifying our views on the nature of deformation in metals and its relation to structure. It is only by such close study of the relation of structure to mechanical properties that we shall ever be able to describe the latter in terms of their ultimate elements, and thus explain what are still mysteries in the mechanical behavior of metals; experiment and thought along these lines are in my opinion of the utmost value. If I, therefore, here record some of the difficulties I have experienced in understanding some of the generalizations of Prof. Jeffries, it is only in order that perhaps from the discussion may emerge a clearer and more consistent statement of hypothesis or theory in explanation of the facts discovered by him.

Jan 11, 1918

By A. M. Gaudin, D. W. Fuerstenau, M. M. Turkanis

SOLUBLE silver salts are effective activators for flotation of sphalerite with potassium ethyl xanthate as collector.' Since sphalerite takes up large quantities of silver ions rapidly," investigation of this system appeared fruitful for studying the mechanism of sphalerite activation and deactivation. Experimental data presented here comprise studies of the mechanism and rates of activation and deactivation of sphalerite with silver and cyanide ions. A 20-lb sample of sphalerite from Ottawa County, Oklahoma, was handpicked, crushed, screened, hydrosized to produce a 65/100-mesh fraction, and purified by electrostatic separation. The sphalerite was then leached with benzene and absolute ethyl alcohol to remove possible organic contaminants and with 0.1 M NaCN to remove any copper that might have been picked up during screening. The benzene had been specially purified by grinding with fine sphalerite for 12 hr to remove trace impurities that might have had a specific affinity for sphalerite. Finally, the mineral was washed, dried in flowing nitrogen, and stored in large ground-glass stoppered weighing bottles under a small nitrogen pressure.

Jan 1, 1957

By Max Barber

PRESENT equipment and practices in open-pit mines of the Lake Superior iron ranges have been described recently in some detail by A. H. Hubbell.1 It is anticipated that any further improvements will be the result of gradual evolution of present methods and equipment, just as those now used have been gradually evolved from earlier methods. An exception to the process of gradual evolution during the last decade has been the adoption of electric power for operating shovels and trains in open-pit mines, but it is not expected that any such revolutionary changes will be made in the future. The use of Diesel, engine equipment will gain considerable headway, no doubt, and will find favor in certain lines of operation as improvements and adaptations are evolved to meet particular requirements. The question of installing belt conveyors for handling material from deep mines of restricted area, where haulage grades become a serious consideration, or even for transferring earth, rock, or ore material for distances of several miles, is now being studied and some very interesting data are being obtained.

Jan 1, 1932

By William B. Plank

THERE are 19 pct fewer undergraduate and graduate mineral engineering students enrolled in the ECPD accredited schools of the United States this year than there were a year ago. The figures are: 8727 this year and 10,674 last year. The entire engineering group in both countries numbers 171,070, as compared with 184,547 last year and 252,250 in 1947-48, the peak year. This is a decrease of 7.3 pct since last year, less than half as much as the decrease in the mineral engineering group. These figures on engineering enrollment for the current year, 195.1-52, in colleges of the United States and Canada were prepared jointly by the U. S. Office of Education and the American Society for Engineering Education. The seriousness of the situation is shown. by the reported demand for 60,000 to 90,000 engineers this year for civilian and defense industries and only 35,800 will graduate next June. Many of the 1952 graduates are subject to Selective Service, having been granted deferments while in college, and ac- [ ]

Jan 1, 1952

By J. M. Lohr

A COMMERCIAL development requiring a suitable alloy or alloys for sealing into various grades of glass made it desirable to have a more exact knowledge of the expansion characteristics of the nickel-iron alloys than appeared in the published literature. The expansion of the more common. FIG. I.-EXPANSION CURVES OF SEVERAL FIG. 2.-EXPANSION CURVES OF TWO TYPES OF GLASS. (Courtesy of R. C. A.) TYPES OF GLASS. (Courtesy of R. C. A.) types of glass under consideration varies from 2.7 to 10.4 X 10-6 per degree Centigrade, over the range 20° to 400° C. For reference, the thermal expansion curves f several types of glass used for sealing by the lamp and tube industries are given (Figs. 1 and 2). This paper covers a detailed investigation of the thermal expansion of a series of nickel-iron alloys in which the nickel content varies from 30 to 70 per cent. Particular stress is laid on the alloys that contain between 40 and 55 per cent Ni.

Jan 1, 1938

By R. W. Armstrong, P. C. Jindal

TABOR1 has indicated for a number of polycrystal-line materials that their hardness should be directly related to their yield strength. For a material showing zero work-hardening, the Meyer hardness, MH, may be calculated in terms of the yield stress, sy, by utilizing slip line theory and the result is: The Meyer hardness corresponds to indenting the surface with a spherical indenter and specifying the ratio of load and projected area of the indentation. The correlation indicated by Eq. [I] is not well-established. It has been verified to some degree by performing hardness tests on materials strained to the maximum nominal stress and taking this stress as the (new) yield stress of a nonwork-hardening material. The dependence of hardness on yield strength for an annealed material capable of showing work-hardening has not been theoretically evaluated but, presumably, the hardness should be greater than that specified above. Marcinkowski, Fisher, and szirmae2 measured the dependence of the Vickers Diamond Pyramid hardness, H,, on yield strength for an annealed Fe-Cr alloy which shows work-hardening and found:

Jan 1, 1968

By T. S. Fuller

THE work of D. J. McAdam1,2 at the U. S. Naval Engineering Experiment Station, Annapolis, Md., on what has been called by him "corrosion fatigue" has focussed the attention of the engineering profession in general, and of those interested especially in the study of corrosion in particular, on the importance of making tests which will indicate as nearly as possible what can be expected from a given material in service. Pitting is unquestionably the chief agent operating so tremendously to reduce fatigue limits, but in the light of previous work3, 4, 5, 6, 7, 8 it is fair to assume that absorbed hydrogen resulting from the action of the corroding medium upon steel may, under certain conditions, have a perceptible influence. The experiments described in this paper deal more precisely with stressless corrosion, or "prior-corrosion fatigue, "9 and have been carried out to test such an assumption, to segregate, if possible, the effect of pitting from that of absorbed hydrogen, and although very preliminary in nature they indicate results which are striking.

Jan 1, 1929

By Robert A. Melton

Since many of the easily mined, continuous, thick coal seams in the Appalachian Region have been exhausted, new exploration and mining is being directed toward less continuous seams that are under more cover and are more difficult to mine. The direct results of this are that more money and time and more expertise and data are needed to plan and open new coal mines today. It is also becoming apparent that the old methods of assimilating and preparing information needed for mine planning are inadequate to meet the needs of today's modern mining engineer, especially in the areas of data gathering, storage, retrieval, preparation, and interpretation. The system described here allows assimilation of old and new core data in a relatively quick, accurate, and efficient manner. The system is a set of computer assisted procedures consisting of the following four basic steps: 1) raw data collection, computer input, storage, and graphic preparation, 2) geologic profile correlation and establishment of seam continuity, 3) computerized data posting of important seam parameters, 4) geologic and planimetric analysis for mine planning.

Jan 1, 1977

(Members are urged to send in for this column any notes of interest concerning themselves or their fellow-members.) Members and guests who registered at Institute headquarters during the period July 10 to Aug. 10, 1915: William H. Rettie, Yonkers, N. Y. Paul S. King, Wilmington, Del. A. J. Eveland, Pachuca, Mexico. E. E. R. Tratman, Chicago, 111. Chang Fu Wang, Shanghai, China. Courtenay Dekalb, Tucson, Ariz. F. H. Fovargue, Terlingua, Tex. Emil Gathmann, Baltimore, Md. W. W. Elmer, Tuttletown, Cal. Henry S. Drinker, E. M., LL. D., has just completed 10 years' service as President of Lehigh University. A notable gathering of alumni, with their wives and daughters, numbering more than 1,000 persons, met in South Bethlehem on June 5. In accordance with the request of Dr. Drinker, no formal celebration was held, but, nevertheless, a spontaneous and enthusiastic expression- of appreciation and affection was voiced by alumni, students and faculty, testifying to the regard felt for Dr. Drinker and extolling the progress made by the University under his guidance.

Jan 9, 1915

The thirty-ninth meeting of the Boston Section was held at the Engi- neers? Club on Monday evening, Dec. 4, 1916. Thirty-three members and guests sat down to dinner; There were present as section guests; Dr. L. D. Ricketts, and Prof. Bradley Stoughton, President and Secretary of the parent society, and each was called upon to speak. Mr. Stoughton spoke of the growth of the Institute during the past year and described the very numerous and important activities, of which the junction of the American Society of Civil Engineers with the other three societies is perhaps the most important. Dr. Ricketts, the advertised speaker of the evening, spoke on Recent Progress in Mining and Metallurgy of Copper Ores. In discussing the improvements in mining, he traced the mining methods from square- set mining to the modified Ohio System now so successfully used at Inspiration: In metallurgy, he described the growth of reverberatory-smelting ant1 allied problems such as the utilization of the waste heat for generating steam. He laid stress on the importance of sampling and bedding of

Jan 6, 1917

By Paul T. Allsman

Passage of the Mining Act of 1866, superseded by the Act of 1872, was the first major entry of the Federal Government into the problems of mining. Such a law was necessary simply to help re- solve a number of disputes in mining. Now, however, a hundred years later, the extent of government involvement in the mineral industry often comes as a shock to the mining engineer who has reached management level. In fact, he has been poorly prepared for an understanding of the role of government in the industry and he becomes frustrated, even hostile. In our political system, private industry is responsible for producing minerals and the Government sees to it that production will be adequate for a peace-time economy and for any emergency. There have been great social and political changes since World War I1 with the result that the Government's participation in our society has steadily increased. A new dimension in business and government relations has been introduced which should be examined more closely.

Jan 5, 1966

By David L. Rife

Fluid inclusions have been studied since the mid-1800s. In 1858, the famous English geologist H. C. Sorby, stated that ". . . there is no necessary connection between the size of an object and the value of a fact, and that, though the objects [inclusions] ... are minute, the conclusions to be derived from the facts are great."' This statement philosophically emphasizes why fluid inclusions should be studied. Fluid inclusions supply the economic geologist with "hard" data on the chemical environment and mechanisms of transport for ore fluids. Such studies enable geologists to understand more about their complex nature. The information that can be obtained from fluid inclusions is as follows: 1) Fluid inclusion "filling temperatures" measured with the microscope heating stage, reflect the hotness of an ore fluid at the time of its entrapment and are one of the most accurate methods of geologic thermometry. 2) Ore fluid densities indicate the extent to which ground water becomes mixed with ore fluids. Density is determined from the composition of inclusions, the ratios of gas to liquid (at room temperature), and from

Jan 1, 1973

By William B. Plank

Mineral engineering student enrollment in U. S. and Canadian schools for 1955-1956 is 11,408, an increase of 11 pct more than last year. The undergraduate and graduate engineering students in both countries number 251,765, or 13 pct more than last year. These figures have been released by the American Society for Engineering Education. The largest increase in the undergraduate mineral engineering group in the U. S. is in ceramic engineering, with 676 students, or 31 pct more than last year. The next largest increase is in mining which shows a gain of 13.5 pct, compared with a gain of 13.1 pct in the total undergraduate enrollment in all engineering schools approved by the Engineers' Council for Professional Development. This figure is 190,355, which approaches the prewar figure. Metallurgical undergraduates increased 13 pct; geological, 5 pct; and petroleum, 2.5 pct. This year the figures for geophysics are combined with those for geological engineering, making a total of 1610 undergraduates, of which the geophysicists comprise about one seventh.

Apr 1, 1956

By D. D. McNaughton

IN providing 65,000 tons of broken muck per day for shovel operation in a large open pit copper mine, drilling equipment and efficient use of that equipment is of prime importance. To improve existing drilling efficiencies, a large electric rotary drill capable of drilling 12-in. holes was purchased in May 1955. At Chino 96 pct of the blasting is done with 12-in. holes because: 1) the large holes break the optimum amount of material to reduce trackshifting to a minimum, 2) better fragmentation is obtained from a relatively short column of powder, and 3) longer spacing results in greater tonnage broken per foot drilled. From 1955, when it was purchased, through October 1956, the rotary drill has drilled 95,701 ft at a rate of 167.4 per shift in various locations and types of ground encountered in the mine. (This includes moving time and all other delays while a crew is on the machine.) The machine has been worked two shifts per day, seven days per week, and has been available 68 pct of this time.

Jan 5, 1957

By C. G. Dunn, P. K. Koh

TWO recent review papers have considered the origin of primary and secondary recrystalliza-tion textures from the point of view of oriented nucleation and oriented growth theories."' Both theories require nuclei for primary recrystallization but provide no unequivocal answer to the question of what nuclei are. The answer to the same question regarding secondary recrystallization, however, often is that nuclei are certain primary recrystallization grains or primaries. The two theories differ, however, in specifying what the certain primaries are. In support of the oriented growth theory Beck and Hua originally stated "It may be assumed that in a re-crystallized material, even with a strong texture, there always are present some grains of practically any orientation. These may serve as nuclei for the coarse grains, provided that conditions are favorable for their growth." In commenting on this statement one would say that there are two restricting conditions: namely, that 1) the certain primaries (nuclei) are large enough to grow, and 2) their boundaries have high mobility. More recently Beck2 has con-

Jan 1, 1958

By Bryon W. Cheever

While working upon the processes which have been descaribed from time to time in the Transactions of the Institute for the estimation of these elements, I discovered that certain reactions take place under certain conditions which if overlooked, give erroneous results. Some of these reactions are new, to me at least. Estimation of Manganese. A weighed sample is dissolved in nitric acid and the manganese precipitated by potassium chlorate in the usual manner, care being taken to add some strong nitric acid at the last, and boil, to completely destroy the chlorate. Filter through purified asbestos, suck the filter dry with an aspirator; then wash with HNO3(1.40sp). gr.) until the acid comes through clear, and again suck dry with the aspirator. The nitric acid used for washing must be free from nitrous acid, for this acid reduces the peroxide of manganese; the lower oxide thus formed is dissolved by the strong nitric acid and is carried through the filter; some manganese also will nearly always be dissolved if the precipitate is washed with water. The nitric

Jan 1, 1886

By E. T. Dumble

THE first specimens of this material which came under my notice, as found in the State of Texas, were sent to me by Mr. J. C. Melcher, of Fayette county, soon after the organization of the State Geological Survey. I wrote him concerning it, and had the locality and manner of occurrence described, but 1 had no opportunity to visit and examine the deposit until the present field-season. Later, specimens were collected by Dr. Penrose and myself on a trip made by boat down the Rio Grande, from Eagle Pass to Hidalgo, in June, 1889. At the time of collection I marked the substance "Albertite," doubtfully, but, on examination, it proved to be nearer Grahamite. The geological horizon of the two occurrences is Tertiary. The first locality mentioned is in the upper part of the beds called by us Fayette beds, and provisionally correlated with the Miocene, or Grand Gulf of Hilgard's Mississippi section, while the latter is in the lowest strata of the Eocene which are exposed on the Rio

Jan 1, 1893