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By R. A. Marriot

The steam-generating plant at the Garfield smelter of The American Smelting and Refining Co. consists of two divisions in which the boilers are classed as direct-fired or waste-heat. The direct-fired boiler plant consists of eight 330-boiler hp. type K-19 and S-I 7 Stirling boilers located in the boiler room adjacent to the power house, and two 330-boiler hp. Stirling type K-19 boilers in the reverberatory building, which formerly were connected to a reverberatory furnace but now are arranged for direct firing. All direct-fired boilers are now fired with natural gas. The waste-heat boiler plant consists of all units connected to reverberatory furnaces, and receiving heat from the exit gases therefrom. In this classification there are two 490-boiler hp. Erie City vertical water-tube boilers, and six 330-boiler hp. type K-19 Stirling water-tube waste-heat boilers. Each furnace has boilers arranged in battery setting. The boilers are directly in front of the furnace and connection is made through a short uptake and flue (Fig. 1). The Stirling boiler settings rest on concrete foundations at ground level, with the furnace uptake and flue at a low elevation. The Erie boilers are carried on steelwork some 15 ft. above ground level, and stand against the face of the uptake with no connecting flue. The constructional requirements of a larger furnace dictated this type of setting.

Jan 1, 1934

By V. Jares

DESPITE the fact that a combination of metals-aluminum-zinc-tin, and sometimes aluminum-zinc-cadmium-is extensively used for aluminum solders, as well as for die-castings, the constitution of these alloys has not yet been made clear. I. BINARY SYSTEMS The system aluminum-zinc is the basis of the ternary alloys under consideration. Their composition was made sufficiently clear by the investigations of Rosenhain and Archbutt,1 Bauer and Vogel,2 Sander and Meissner,3 Hanson and Gayler4 and Isihara.5 Only the temperature of decomposition of the crystals 0 seems still to be doubtful, whether it is considered as a compound of Al2Zn3 (according to Bauer and Vogel) or as an intermediate phase of variant composition (according to Hanson and Gayler). This temperature is given by most of the authors as in the neighborhood of 256° C., only Isihara giving 280° C. As its accurate determination is of special importance in the study of the ternary alloys under consideration it was experimentally controlled in the following manner: An alloy corresponding in composition to the formula Al2Zn3 was made, in which the temperature effect was found to be the greatest. This was drilled and a silver-constantan thermoelement inserted into the cavity so as to be in direct contact with the alloy. The whole was then very slowly heated and the heating and cooling curves determined. The transition temperature from the heating curve was found to be 281° C., whereas from the cooling curve it was 252° C.

Jan 1, 1927

By ARTHUR S. DWIGH

Discussion of the paper of W. W. NORTON, presented at the Salt Lake meeting, August, 1914, and printed in Bulletin No. 92, August., 1914, pp. 1993 to 1999. ARTHUR S. DWIGHT, New York, N. Y.-Mr. Norton's chief argument is directed against the idea that the D. & L. sinter is any better material for the blast furnace than the H. & H. product. He supports this by citing two experimental furnace runs. Reducibility.-To discuss a furnace record like that quoted by Mr. Norton for the five days' run in August, 1912, is manifestly difficult for an outsider, but a possible explanation for the poor reduction on Furnace No. 5, smelting D. & L. sinter, may lie in the fact that both sets of furnaces carried the same fuel charges. Other things being equal, if 11 ½ per cent. coke was right for the furnaces smelting H. & H. product, it Was too much for the furnace smelting D. & L. product, as I shall endeavor to show later, and incipient overfire, accompanied by higher leads in slag and matte, was induced. It may sound like a paradox to say that excessive fuel sometimes produces poor reduction, but it is a sad fact. In certain plants where practically the entire charge to the blast furnaces receives a preliminary treatment by being sintered on the D. & L. machines the peculiarities of this problem have had to be very carefully studied, for serious metallurgical difficulties presented themselves when the change was first made to D. & L. sinter in large quantities. Some of these plants had blast pots before they had D. & L. machines, and many opportunities were afforded for comparative study of this very point. There is reason to believe that, clue to the long period of blowing and the higher temperatures developed in the pots from greater mass action, the iron in the H. & H. product is present chiefly as Fe203, perhaps in the form of ferrites, while in the D. & L. product the iron is present as FeO. The fuel charge in the blast furnace must be so proportioned as to exactly meet the chemical and thermic requirements of reduction and melting. If ally of these functions have been performed before the material enters the furnace, a corresponding allowance should be made or the fuel balance will be disturbed and bad work will result. One of the functions of the coke is to reduce enough metallic Fe for the matte requirements, leaving the remainder of the iron as FeO to go into the slag. In smelting almost any other material than D. & L. sinter the iron must-be reduced from the higher oxides, Fe203 or Fe304, to the protoxide, FeO, before a true comparative basis is reached. Experience has shown that with about one-half D. & L. sinter on the charge the coke should-be cut about 10 per cent. This theoretical benefit is borne out by the practical blast-furnace results on a large scale in numerous plants. In fact, wherever this very important factor is ignored the evil symptoms of excessive fuel will be indicated,

Jan 11, 1914

By W. J. Taylor

Every one having practical experience in making heating-gas knows how much room there is for improvement,, in order to avoid not only the production of poor gas, when good gas is most wanted, but also the waste due to burning gas on top of the fuel-bed, and the loss of both time and fuel in cleaning.* The producer which I have recently designed, and with which I am now experimenting with every prospect of success, at the oreroasting kilns at Chester furnace, is intended to remove these difficulties as far as possible, and at the same time to be continuous in operation. I have not had it at work long enough to get beyond the stage of experiment; hence, I will only at this time explain it in a general way, and illustrate it with a drawing, promising a more elaborate paper if it becomes the practical success I anticipate. The features of the producer are : 1st. The round dome-shaped revolving bottom; and 2d. Metallic water-cooled walls in place of the usual brick lining. As shown in the drawing, the bottom has a sleeve, which fits over the air-admission pipe, coming up through the center of the

Jan 1, 1887

By Timothy P. Smirnoff

INTRODUCTION The Jones Island Inline Pump Station is a major element of the Milwaukee Metropolitan Sewerage District's (MMSD) Inline Storage Facilities Plan in Milwaukee, Wisconsin. See Figure 1. This underground 6.6 cu m/day (150 MGD) Pumping Station will be located immediately south of the existing Jones Island Treatment Plant at the confluence of the Menomonee and Kinnickinnic Rivers on the Milwaukee Bay, south of the Milwaukee River. [ ]

Jan 1, 1984

By W. F. Guenther

The usual hand-operated drilling outfit consists of a 4-in. post-hole auger with 3/4,-in. pipe for drill stem, in 4-ft lengths, with a turning handle fitted to a top pipe T. The auxiliary tools are: a chisel-bit drill made from 3/4 or 7/8-in. tool steel welded to a 4-ft length of 3/4-in, pipe, so that the regular pipe string can be used; also a churn or "mule foot" made from 3-in. pipe, slotted on one side, belled to a 4-in. tempered cutting edge on the bottom, all welded to a 3/4-in. coupling by a yoke. Other tools required are pipe wrenches and cleanout tools made from old auto springs (Fig I). A 4 1/2 or 5-in. collar welded to a plate is often used to protect the mouth of the drill hole. In general the auger is used in the typical clay overburden and brown phosphate matrix, which is relatively soft. The churn or "mule foot1' is used in hard pan, lump phosphate or cherty ground. The drill is used for breaking flint, often found loose in the overburden. The drill with the chisel bit is used for trimming sides of the hole, sounding for lime bottom and breaking through hard lumps. Holes have been drilled to a depth of 80 ft, but the limit of efficient operation is about 50 ft. In deep holes it is necessary to unscrew the string in 20-ft lengths, to

Jan 1, 1948

By W. F. Guenther

The usual hand-operated drilling outfit consists of a 4-in. post-hole auger with 3/4,-in. pipe for drill stem, in 4-ft lengths, with a turning handle fitted to a top pipe T. The auxiliary tools are: a chisel-bit drill made from 3/4 or 7/8-in. tool steel welded to a 4-ft length of 3/4-in, pipe, so that the regular pipe string can be used; also a churn or "mule foot" made from 3-in. pipe, slotted on one side, belled to a 4-in. tempered cutting edge on the bottom, all welded to a 3/4-in. coupling by a yoke. Other tools required are pipe wrenches and cleanout tools made from old auto springs (Fig I). A 4 1/2 or 5-in. collar welded to a plate is often used to protect the mouth of the drill hole. In general the auger is used in the typical clay overburden and brown phosphate matrix, which is relatively soft. The churn or "mule foot1' is used in hard pan, lump phosphate or cherty ground. The drill is used for breaking flint, often found loose in the overburden. The drill with the chisel bit is used for trimming sides of the hole, sounding for lime bottom and breaking through hard lumps. Holes have been drilled to a depth of 80 ft, but the limit of efficient operation is about 50 ft. In deep holes it is necessary to unscrew the string in 20-ft lengths, to

Jan 1, 1948

By Christopher J. Bise

Introduction In August 1977, the federal Surface Mining Control and Reclamation Act was signed into law. It stated that: "The Congress finds and declares that because of the diversity in terrain . . . and other physical conditions in areas subject to mining operations, the primary governmental responsibility for developing. authorizing, issuing, and enforcing regulations for surface mining and reclamation operations subject to the Act should rest with the States." Section 516 of Title V (Control of the Environmental Impacts of Surface Coal Mining) of the Act deals with the surface effects of underground coal mining operations. "Each permit issued under any approved State or Federal program pursuant to this Act and relating to underground coal mining shall require the operator to adopt measures consistent with known technology in order to prevent subsidence. causing material damage, to the extent technologically and economically feasible, maximize mine stability, and maintain the value and reasonable foreseeable use of such surface lands, except in those instances where the mining technology used requires planned subsidence in a predictable and controlled manner: Provided, that nothing in this subsection shall be construed to prohibit the standard method of room and pillar mining." This section raises many questions. Precisely what is the "reasonably foreseeable" future as far as land use is concerned? And what is the "standard method of room and pillar mining"? The first part of the paragraph seems to rule out longwall mining, but isn't longwalling a "predictable" manner of "planned subsidence"? Does the Act take into account variations among mining methods in differing regions or coal seams? With these questions and the need to comply with the Act's provisions in mind, many states may turn to the Pennsylvania Bituminous Mine Subsidence Act of 1966- the only comprehensive subsidence act passed by any state-as a model for their own programs. Thus, it is very important to evaluate Pennsylvania's Act to see whether its basic assumptions can accommodate national application. This paper will note the Subsidence Act's provisions and guidelines, briefly analyze the current state-of-the-art in subsidence damage prevention and control, and list several recommendations for altering the Act's application guidelines for different mining areas.

Jan 1, 1982

By Carl J. McHargue

Rods of 99.99 + pct Al which had initial orientatzons of <001>, <118>, <115>, <111>, and random were swaged at room temperature. Changes in orientation as a function of deformation were studied on axis distribution charts. The <001> orientation appeared to be relatively stable due to the inhomogeneity of the deformation process. near the <100> zone were quickly reoriented towards <001>. Orientations on the <110> zone between <118> and <115> appeared to be stable to reductions of about 50 pct, then were reoriented toward <001>. At very high reductzotzs. movement away from the <111> orientation was observed. the requirement that a circular cross section be maintained. In addition to these mechanical factors, there are grain-boundary effects in poly crystalline materials which are not yet understood. Hartmann and Macherauch conclude, for example, that multiple slip occurs for all orientations in fine-grained aluminum and copper and that the choice of operative slip systems has no simple relationship to orientation.? Many investigators have attempted to avoid problems of interpretation caused by an initial texture by treating the starting material to obtain as ran- IT has been generally accepted that the deformation texture obtained at high reductions, e.g. 90 pct, will not be noticeably affected by a prior texture; whereas, that obtained at reductions of 40 to 50 pct may be significantly influenced by the specimen history.&apos; Some recent studies, however, have been interpreted as showing that an initial texture strongly influenced the deformation textures in rods at reductions greater than 90 pct. Freda and Cullity suggested that the <001> texture in a heavily cold-worked copper rod was due to a <001> texture in the original casting. McHargue, Jetter? and Ogle concluded that the <001> component in an aluminum rod extruded at liquid nitrogen temperature was remanent from a <001> texture in the cast extrusion billet.3 Most of the published work on the effect of initial orientation on deformation textures has been for cold-rolled or compressed single crystals,4-6 The primary interest in these studies was to examine various orientations with regard to their stability under flow? thus determining the possibility of such orientations being stable end orientations. There appears to be no published studies on the effect of initial orientation on fiber textures in polycrystalline specimens. A recent study, however, is concerned with the reorientation of individual grains in polycrystalline specimens pulled in tension.? Although the reorientation of single crystals loaded in simple tension is well known, the movements in the forming of wires and rods would be expected to be different due to the circular array of radial-compressive stresses exerted by the die walls or the rolls, and to

Jan 1, 1962

By R. G. Ward, A. E. El-Mehairy

A technique was developed to calculate the density of liquid metals from the profile of a weighed levitated drop obtained by emitted light photography and calibration. The density of liquid copper was determined over the temperature range 1370" to 2100°K and expressed with the equation: The molar volumes and thermal coefficients of expansion are calculated. Copper, upon melting, was found to expand 3.34 pct. A knowledge of the density of liquid metals is essential as it is a parameter appearing in most theories of the liquid state. The liquid density is also necessary for the calculation of the commercially important contraction occurring on solidification. Unfortunately good density values are rarely available and the present work was undertaken to establish a new method of density determination free from the limitations of the existing methods. For liquid metals with high melting points, the variation and the limited number of density values reported in the literature have been caused primarily by difficulties in technique, a matter which has been adequately discussed by Urbain.&apos; In all the methods used for measuring the density of the high-melting liquid metals there are sources of error, and corrections have to be made. For example, in the method of balanced columns, the formation of gas bubbles in one or both arms was a great source of error. In the pyknometer3 and immersed-sinker methods, corrections of certain volumes for thermal expansion to the operating temperature exceed 4 pct. In the maximum-bubble method5 a correction for the thermal expansion of the bubble-tube is used (about 1.6 pct); a second correction takes into account the change in the volume of liquid displaced by the bubble-tube (about 3.5 pct). Another method used is based on the shape of a drop of liquid, at rest on an inert refractory plaque, obtained photographically or radiographi-cally. The volume is calculated from the shape, which is sensitive to the surface tension and supporting material, by some intricate empirical relation. The drop contour changes with 90 deg rotation of the support.7 The application of all methods is limited by reaction between liquid metal and the apparatus. The successful stabilization of a mass of liquid metal during levitation melting8 afforded a technique for measuring the density of liquid metals out of contact with solid materials. The technique was developed by using copper as the density of liquid copper has already been studied extensively, thus allowing comparison with the new method. It consists of calculating the volume from the dimensioned profile of the levitated drop obtained by emitted-light photography and careful calibration. The molten egg-shaped drop spins around the magnetic axis of the coil (lined vertically) at a speed which seems to increase with increasing temperature. The method does not involve corrections and the experimental setup allows the use of vacuum or special atmospheres. The maximum operating temperature is limited by excessive evaporation of metal from the droplet. EXPERIMENTAL Levitating System. A stabilizing ring was used in conjunction with a 3-turn levitating coil energized by a 450-kc per sec, 10-kw Toccotron with a high current-low voltage output stabilized to f 1 pet.&apos; APyrex glass tube with a Pyrex Optical flat window inserted through the coil and ring allowed the use of special atmospheres during levitation melting, as shown in Fig. 1. Optical System. Fig. 1 shows the optical arrangement used to photograph the profiles of the drop, parallel and perpendicular to the vertical spinning axis, simultaneously on the same frame of a high-speed 35-mm film. The optical system was adjusted to avoid any distortion of the profiles and to ensure that both profiles are in focus. The length of path from object to objective was about 30 cm, and a magnification factor close to 1 was obtained with the single-lens reflex-camera system. Temperature Measurement and Control. In operation, the specimen temperature was constant to 5 C for a fixed power input to the levitating coil and fixed rate of gas flow through the tube. The temperature was measured by an automatic two-color pyrometer (Coloratio) checked at the melting

Jan 1, 1963

By C. A. Heberlein

C. A. HEBERLEIN, New York, N. Y.-The results stated by Rey and Brevers are so startling that they are of great interest, as the concentration of a low percentage of cinnabar by differential flotation yields a high-grade concentrate in the presence of either arsenical or iron pyrite. The authors say: "Cyanide can thus be used to depress arsenopyrite and make a good cinnabar-arsenopyrite separation. A cinnabar-pyrite separation could probably be effected in the same way." Corrosive sublimate at the present price of mercury would be a very expensive reagent but the expense would be justifiable if a high rate of concentration could be obtained with a high extraction. On my request, special tests were made in the Punitaqui mill in Chile along the line suggested by the authors, without any improvement of either grade or extraction. As the recovery of the cinnabar in a complex sulphide of chalcopyrite and pyrite gave unsatisfactory results, I had tests made at the testing laboratory of the American Cyanamid Co. at Stamford, Conn. As these tests turned out to be highly satisfactory, not only at Stamford but later at the mine, they are presented here. [ ] The pulp had a density of 22 and a pH of 7.8. Total time of conditioning was one minute. The reagent added was Texas fuel oil, 0.116lb. of 33.7 Bé. gravity containing 0.9 per cent sulphur. Frother, 0.062 lb. of No. 5 pine oil. Rate of concentration of mercury was 25.7: 11. [ ]

Jan 1, 1941

By Niels Hansen

Dispersion-strengthened sintered aluminum products are normally manufactured from surface-oxidized aluminum powder, SAP,&apos; or from atomized aluminum powder.&apos; The powder-blending technique consisting in mechanical mixing of the constituents has been used in the manufacture of numerous dispersion-strengthening alloys, but has never been successfully applied to aluminum alloys. This technique may, however, be applicable if it is possible to produce an unagglomerated mixture of the constituents in the form of fine powders, and the present study was initiated to test this assumption in the aluminum/aluminum oxide system.3 Table I lists the two grades of aluminum powder and the aluminum oxide powder used in the manufacture of the alloys. MD 105 A is an aluminum powder with an average grain size less than 5 IJ., which is isolated from the MD 105 powder by centrifugal separation in cyclohexanol. The aluminum powders and the aluminum oxide were blended in a high-speed blender and then subjected to cold compaction and hot compaction at 550" to 600°C. Subsequently the compacts were hot-extruded with an extrusion ratio of 15 to 1. The alloys were evaluated by tensile testing at room temperature and at 400°C, microscopic examination, and heat treatment at 500°C followed by tensile testing at room temperature. For the purpose of comparison, a commercial SAP quality supplied by Swiss Aluminium Ltd. was tested in the same manner. The tensile data at room temperature and at 400°C are plotted in Figs. 1, 2, and 3 as a function of the weight percent of oxide. The oxide content

Jan 1, 1964

By John A. E. M. Church

THE prospector&apos;s pan was the first implement used for saving gold, and its action is so effective that it has never been equalled for thorough work. Copper plates, blankets, sluices, and amalgamators of several patented designs have thrust it aside, but in spite of all the advances made there is no dispute among experienced men as to the comparative thoroughness of the work done by it and its rivals. When its rivals are doing their best, the pan can take their discarded refuse and prove their inefficiency by producing from it not only gold, but even the mercury which has been lost from the machines themselves. The trouble with the pan has always been that it was only a tool. Man was the machine that moved it. His work was high-priced, the quantity treated small, and it was impossible to use the pan for any but the richest sands. As a consequence the best gold-saving appliance known has been discarded for years and replaced by machines of inferior excellence, but which could more than make up for their limited ability in saving gold by their capacity for treating great quantities of ore. Mr. Peck is one of the old-time amalgamators of the Comstock district, and the first idea of the new machine came to him as he used to pan below the tailrace of his mill. No matter how fine the work of the mill was, the pan invariably proved that better could be done. The tailings always contained gold, silver, and mercury. This state of things is just as true to-day, after all the improvements that have been made, as it was then, and the much-vaunted method of the " Washoe process" consists in extracting 72 per cent. of the gold and silver by one operation, and then repeating this operation half a dozen times to get out about one-third of the remainder. With all the advances of twenty years in milling, there is nothing more crude in metallurgy than the treatment of tailings in many of the large mills of the West.

Jan 1, 1880

By John A. Church

Jan 1, 1880

By B. F. Bush

THE coal-fields of Missouri, situated hi the northern and western portion of the State, are distributed, in whole or in part, over 57 counties, embracing an area estimated by Mr. Broad-head to be practically 23,000 sq. miles, including small detached beds and outliers in St. Louis, St. Charles, Lincoln and Warren counties in the eastern part of the State. This area includes about 8,000 sq. miles of Upper or Barren Measures, 2,000 sq. miles of exposed Middle, and 12,420 sq. miles of exposed Lower Measures. In a general way, the Missouri coal-field is bounded on the east by an imaginary line entering the northern part of the State just east of the 92c1 Meridian and passing across the State in a southwesterly direction to a point on the Kansas-Missouri line a little below the southern boundary of Barton county. An important part of the field overlaps this line and extends down the northern side of the Missouri river, under¬lying the greater part of Randolph, Howard, Boone and Audrain counties. In all, 34 counties produced coal during the year 1903. Fig. 1 shows the position of the coal-fields in Missouri. GEOLOGICAL FEATURES. The Coal Measure formations, all of the Carboniferous age, rest unconformably upon the rocks of the sub-Carboniferous or Mississippian series, and, in some cases, upon the rocks of the Devonian and Silurian ages. From their outcrop on the eastern and southeastern borders of the field, the Measures dip west to northwest at the rate of 10 ft. per mile, reaching a maximum thickness estimated by

Jan 1, 1905

By R. E. Somers

1. INTRODUCTION 1. Location, Topography, and Climate The Burro Mountains are located in the southwestern part of New Mexico, in Grant County. The group is made up of two distinct moun-tain masses, known as the Little Burros and the Big Burros, the former lying about 6 miles southwest of Silver City-, and the latter about 9 miles farther in the same direction. They are separated by the valley of the Mangas River, a tributary of the Gila, and a stream only in name, except after a heavy down-pour of rain. . The Little Burros attain an elevation of 6,625 ft. above sea level, and the Big Burros 8,054 ft., with the surrounding country averaging about 6,000 ft. To the south of these mountains stretches the desert plain, while to the north are the more frequent elevations of the mountainous country.

Jan 5, 1915

By F. E. Lucas

This paper is offered with considerable diflidence, since some of the statements made may not agree with the opinions of other members of the Institute. What I give is the result of some years of experience in the operation and construction of coke-ovens, and observation of plants in America and Europe. Although my title is " The Manufacture of Coke," I have found it impossible to do justice to the subject without touching on a number of points which, while not strictly involved in the making of coke, yet are of paramount importance from an economic standpoint. There are, indeed, many points of interest, on each of which a separate paper of considerable length might be written, but the scope of my paper will permit me only to touch lightly some of them, in the hope that what I say will promote a full discussion on the whole question. Those of us who are interested in the manufacture of coke are under an obligation to the American Institute of Mining Engineers, which has opened its meetings to the discussion of this subject. I do not believe that there is any question to-day more worthy or more in need of discussion. When geologists and mining-men tell us that, at the present rate of consumption, our coal-fields will be exhausted in a few generations, me should welcome any means that will conserve these deposits as far as possible, and give us the greatest amount of heat or power from every ton mined. I shall try to show that much can be done in this direction through the by-product coke-oven, and that it should stand second to none as an economic factor in the industrial world. I shall here deal exclusively with the by-product oven, except for the comparative statement I hare prepared, showing the saving to be effected by coking in by-product instead of beehive orens. It should be borne in mind that this comparison

Jan 1, 1913

By James H. Boettcher

INTRODUCTION There are many and varied sources of finance available to the mining industry for exploration, development and/or the operation of mining projects and companies. These sources include equity from major as well as "penny" stock exchanges, precious metal mutual funds, private investor groups (from "grubstakes" to tax-oriented limited partnerships) and banks. The variety is representative of the fact that the world&apos;s capital markets are segmented and stratified according to risk-reward characteristics. This interrelationship is summarized in Exhibit I and 2 which relate (very approximately) various sources of finance to a typical mining project&apos;s life cycle and risk-return characteristics. The objective of this paper is to introduce, as it applies to the mining industry, a somewhat recent phenomenon represented by one of these capital markets segments referred to as "venture capital." Venture capital investing per se, which today is a multibillion dollars per annum investment business, goes back as far as Queen Isabela&apos;s backing of Columbus&apos; "wild ideas." The real institutionalization of the venture capital process really began in earnest, however, after World War II. Today over 700 private venture capital sources (and more government related ones) exist providing funding to a range of industries, but typically related to the "high-tech" business. The table to the right shows industries financed by venture capital funds between 1980 and 1982. Conspicuous by its absence is, of course, mining which is not a great surprise since typical mining projects up until recently were large, required long lead times and were undertaken by established mining houses. Also, as most of you can appreciate, successful investing in the mining business requires a great deal of experience and understanding of the industry which most venture capital funds do not have. TARGETED RETURN The rate of return objective of most venture capital funds is, according to the legalized version, to realize a return which is "substantially in excess of that obtainable through conventional equity investments." One may say that a common objective of venture capital funds is to realize a 20% to 30% compound annual internal rate of return on capital over their life which is often ten years. [ ] This objective has been recently more feasible in the mining sector due to the development of smaller precious metal projects which cost less and are quicker to generate cash flow than the behemoth projects of the 1970s. In addition to precious metals, venture capitalists have invested or looked at a variety of other mining projects including ones as prosaic as a high margin "kitty litter" operation, sand-gravel and other industrial minerals operations, the leveraged buyouts of coal mines or mineral divisions of major energy or mining corporations, and even in in-situ copper or gold leaching ventures. A typical investment is in the range of $100,000 to $3,000,000 although some can go as high as 5,000,000. This implies a project size up to, say, 30,000,000 if a venture capital fund does it on its own. Larger projects can be done if the equity portion of the investment is syndicated with other investors.

Jan 1, 1985

By N. L. ALISON

MUCH has been published on the general subject of metal mine ventilation but, so far as I can discover, few specific data on selection of fan equipment to meet the requirements of a given mine ventilation problem are available. This article is intended to point out some of the more important considerations which influence the selection of such equipment. It will be assumed that the mine operator is able to determine the quantity of air which is necessary in the various parts of his mine to produce the required results and the pressure in inches water gage needed to circulate this quantity of air through the mine. There may be instances in which this assumption is not justified, but the fact remains that, with proper engineering talent, these data can be approximated sufficiently close for practical purposes.

Jan 1, 1930

E. W. King, Bozeman, Mont.: The form of measuring up ore in sight looks very plausible, as illustrated in the paper of Mr. Emmons, but from my experience of many years of mining in Montana and Nevada, I have found it is very hard to measure up anything nearer than a guess of what you have in sight, except in the case of a true vein, or a flat vein where the boundaries are well defined. I have been interested in several miues with Dr. A. R. Ledoux, and I know that my foreman and myself, going into the mines and using our best judgment, could seldom see more than 30 days&apos; supply actually in sight, and yet we were running from 100 to 250 tons a day, and keeping it up year after year. Prof. John D. Irving, New Haven, Conn.: I understand from Mr. Emmons that this is a method which has been found applicable in the copper-mines in Tennessee, where the record could be made with a good deal of accuracy, and where the work in the mines allowed the necessary development to be done, so that the record could be kept up. I do not think there was any intention in his mind to imply that this was applicable to all cases, especially such as Mr. King has mentioned. President Charles Kirchhoff, New York, N. Y. : I think the point is that the paper impresses the necessity for doing it where the possibilities exist. There has been too little attention given to this very matter, particularly in the United States; but I think our English friends are following it very much more zealously, and the demand for it there is possibly greater than it is here, because English boards of directors handle mines that are often very much further away than our own are, and the English public and the English engineers generally are very much more insistent upon seeing how much longer current dividends are going to last, or current assessments are going to continue.

Jan 1, 1913