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By William J. Potter, Roger N. Pyle

Introduction The primary ingredient for survival of mining companies during a recessionary period is to be innovative and resourceful in the structuring and financing of operations. Over the past decade, many mining companies have had to retrench and restructure their operations and to redeploy their assets just to survive. During the same period, traditional sources of financing for mining companies -- commercial banks, subsidized export credit loans and long term straight debt financing in the public markets -- became less available and more expensive. Meanwhile, new markets and new financing instruments provided new alternatives for mining companies. Those companies which exploited these alternatives greatly enhanced their capacity for survival and even for profitability. This article considers the strategies adopted by some companies to adapt to changes in this recessionary environment; the inadequacy of traditional sources of financing; certain of the new financing instruments, structures and markets which have become available; and how several mining companies have utilized these new instruments, structures and financial markets to improve their competitive positions. THE IMPACT OF RECESSION ON MINING COMPANIES AND TRADITIONAL FINANCING SOURCES In its 1983 year-end article "The New Economic Order" Mining Journal characterized many of the large private sector mining companies with operations in the industrialized countries as being "gripped between the jaws of high working costs and stagnating metal commodity prices." The article went on to characterize the Canadian mining industry in particular as being "in the difficult position of having to seek to sell the bulk of its output in a world market characterized by over-capacity, where production costs were determined by internal political and economic factors while prices were set by external competitive forces of supply and demand." Miners of a wide range of commodities in the industrialized countries have come to realize that their domestic mineral resources are in many cases no longer competitive with global sources of supply. To compete and survive they would have to rely on their technical and financial expertise in mineral exploration and development and in mining and processing. Strategies For Survival Global competition has compelled management in the extractive industries to improve their worldwide cost position. This is the only means whereby a mining company can differentiate its product and attain a substantial competitive advantage. During the past decade, for example, ASARCO Inc. and Inco Ltd. chopped their payrolls, postponed expansion plans and otherwise retrenched. ASARCO reduced its capital expenditures and cash requirements for operations in 1984 to a level almost equal to its internally generated cash. The company's finances were also strengthened by increasing total lines of credit from outside sources, by selling common stock, and by reducing annual pension funding through a change in actuarial assumptions. Other companies returned to their traditional organizational structure where they had a demonstrated competitive strength. Consolidated Gold Fields, for instance, resumed its operation as a mining finance house. Its capital investment programs are now devoted solely to resource development. In mid-1984, at a time of firming zinc prices, Union Miniere S.A. used the opportunity to integrate its smelting capacity and to direct investment to certain subsidiaries at the expense of less viable operations. Smaller corporations realized that it was not enough just to be the low-cost producer. For example, Drummond Coal Company in Alabama, which dominates its regional market due to its low-costs, has also developed a world-wide trading capability and has placed incremental tonnage from its own mines as well as brokered coal produced by others, thereby minimizing capital risk. In Canada, Campbell Resources has exploited difficult times by acquiring assets cheaply. In the process it improved its capacity to withstand cyclical economic swings by diversifying from solely a copper and gold producer to a company based upon asbestos, coal, copper, gold and natural gas.

Jan 1, 1985

By H. F. Beeghly

UNTIL recently the only criteria by which steels were judged were their cost and their mechanical, chemical, and physical properties. The user was concerned with such properties as corrosion resistance, tensile strength, response to thermal treatment, hardness, ductility, and, to a growing extent in recent years, with behavior at high temperature. As plans were made to build power reactors, a new set of properties became important—the nuclear characteristics, which had to be considered by the designer and engineer in building his plant. The nuclear engineer developed methods for the rare and new metals and produced them in high purity, often at great expense. The pure metals then provided the raw materials for tailor-made alloys. For more common structural metals, such as steel, the nuclear industry depended on commercially available materials. Generally, the quantities required were small and specifications were rigid. It is not surprising, therefore, that difficulty was frequently encountered in procuring structural mate-

Jan 1, 1957

By G. H., Wigton

THE present milling operations of the Chief Consolidated Mining Co. consist- of flotation of oxidized minerals from siliceous ores of the Tintic Mining district, Utah. As the lead, silver, and gold minerals that give the ores economic value are almost entirely oxidized; their successful flotation has necessitated the solution of many new problems. Laboratory effort resulted in the selection of a, natural float for the oxidized minerals. 'By "natural float," I mean that no reagent was added to produce a sulfide film on the osidized minerals before or while subjecting them to flotation operations. As compared to methods involving sulfide filming, the natural float was selected because it promised successful treatment of a larger variety, of ores without change in quantity or kind of reagents, as well as a better economic balance between metal recovery and concentration ratio. In explanation, I can, state that with sulfide filming, the efficiency of the method decreases rapidly with increase of hydrated, iron osides in the ore, whereas with the natural float the same effect has not been noted. Evidence shows that although sulfidizing can produce greater metal recoveries, it yields a concentrate so much lower in grade that no advantage results.

Jan 1, 1928

By P. S. Martin, B. J. Guarnera

As an energy source, lignite is short on selling points-it contains large amounts of moisture and often large amounts of ash, resulting in low heat content. The moisture produces rapid oxidation upon exposure and self-ignition commonly occurs within two to three weeks, resulting in major transportation and storage problems. Nevertheless, as interest in alternate fuel sources increases, lignite deposits in the Coastal Plain of the US are attracting more and more attention. Two lignite mines are operating in Texas and additional developments are planned in that state, Arkansas, and Louisiana. At present, Texas lignite is burned only at mine-mouth generating facilities, but more exotic uses such as gasification are projected in the future.

Jan 4, 1979

By Robert K. Warner

When a new mine is opened, and often when an operating mine must adapt itself to physical or economic changes, a mining system must be selected in complete detail. In the past the plan chosen was usually the product of the local staff alone, however limited the training and experience of that staff might be, which often resulted in the introduction of methods that were familiar to the staff, but not so well suited to the conditions as others unknown to the local men. A new management, noting the difficulties with the existing layout, might make modifications or complete changes, so that many mines in their history have seen a whole series of mining systems, each somewhat laboriously grafted on to its predecessor. This should not be interpreted as a condemnation of the older staffs for sticking to the tried systems, such as open square-sets in the early days at the Homestake, because they knew it would work after a fashion, nor does the statement apply to the technically trained, and usually broadly experienced staffs of most present-day properties. The older miners did not have the variety of tools and methods, nor the present freedom of transfer of information as to what the other man is doing, and so did the best they could under the circumstances. Finally, the higher grade of the ores made the choice less vital. The ever-increasing need to mine low-grade orebodies, with a fixed or even lower price for the metal produced, has caused an increasing need for low-cost mining. In most new mines this has simplified the problem of selection by eliminating from consideration all of the high-cost systems, but it has also complicated the choice by the necessity for refinement in detail and a close adjustment of the plan selected to all the conditions at the property. In these low-cost problems any textbook division of mining systems as applied to "beds, veins or masses" avails little as a guide. It should be realized at the outset that to be successful under modern competitive conditions a system of mining must be worked out with elaborate detail, with careful time scheduling and control of the various elemental operations, and that after it is introduced it must be run with a large amount of technical direction.

Jan 1, 1934

The Institute maintains for the use of members (and especially for the use of out-of-town members) a reading and writing room, where all usual office facilities are available, including telephone, telegraph, receipt, forwarding and care of mail and express packages, etc. A file of current magazines is also maintained in this room, and the Institute's staff will lend its best efforts to serving the members in connection therewith. The Institute also maintains for the use of its members free dressing rooms, library research department, etc. Attention is called to these facilities at the present time in the belief. that they may be especially useful to out-of-town members in connection with the Meeting.

Jan 5, 1918

By J. O. Edstrom, G. Bitsianes

Parabolic rate constants were determined for the formation of wiistite by the solid state reaction between magnetite and iron. The reaction was diffusion controlled and inert marker studies indicated that the mass transport through the wiistite layer was accomplished by means of iron migration. Relationships between rate constants and self-diffusivities are discussed. The transport capacity for iron through dense wustite layers was found to be sufficient to carry on reduction, even in gaseous reduction processes. REDUCTION of iron oxides has been the subject of many investigations. Most of the work, however, has been done on rather crude material and there have been difficulties in correlating the data on a quantitative basis. The reverse process of the oxidation of iron has been studied more thoroughly and usually by starting from the pure metal. As a result, the mechanisms of oxidation are now fairly well known.It has generally been found that the oxidation of metals follows the so-called parabolic 1aw;Q hat is, when the oxides are formed as dense layers, their thicknesses are proportional to the square root of the reaction time. This parabolic law follows directly from Fick's first law of diffusion The flux, J, is defined as the quantity of diffusing substance passing per unit time through unit area of a plane at right angles to the direction of diffusion. This flux is proportional to the concentration gradient of the diffusing substance, and the factor D, known as the diffusion coefficient, is introduced as the proportionality factor with dimensions of (length)'/time. If the flux is measured as the increase of thickness of the oxide layer (Ax) per unit time (t) and the assumption is made that the concentrations of the reactants at the phase boundaries of the layer are independent of time, Eq. 1 reduces to Integration of this expression yields the parabolic function ax = k . t. [31 The product of the diffusion coefficient and the concentration difference across the oxide layer is included in the constant k. When iron is exposed to a highly oxidizing atmosphere, the oxide phases are formed normally in a topochemical fashion, i.e., the interfaces between the phases maintain parallel positions to the original surface of the specimen. Above 570°C, the phases are orientated usually in the order of iron, wiistite, magnetite, and hematite, a condition in conformance with the requirements of the Fe-0 system. Below 570°C, the wiistite phase is unstable and has not been found as a normal constituent in the oxidation products of iron. There is a strong probability that continuous layers of the solid oxides are formed as the specific volumes of the phases increase in direct order from iron to hematite.' , ' Regarding mass transport through dense solid oxide layers, Wagner' has postulated that diffusion in oxides generally may be interpreted as migration processes of ions and electrons. There must be normally a concentration gradient across the growing oxide layer for diffusion to occur. This condition requires that there be deviations from the ideal stoi-chiometric composition of the oxide and accordingly deviations from the strict order of an ideal lattice. Such "lattice defects" include interstitial ions, cation and anion vacancies, quasi-free electrons, and electron holes and are decisive for all migration processes.' Cations, anions, and electrons all may have some mobility in the oxides but the movement of one of the particles generally far exceeds that of the others. Previous work', 1,2,7 has shown that during the oxidation of iron the migration through the wiistite layer, and probably also the magnetite layer, is confined to the movement of iron ions. Migration through hematite, however, has been found to take place by oxide ion movement. These behaviors are in direct agreement with the type of vacancies present in the respective oxides. Reduction of Iron Oxides The gaseous reduction of iron oxides, like the oxidation of iron, takes place in a topochemical fashion at distinct interfaces between the appearing phases."-'" Porosities might be expected in these reaction products, since their specific volumes are less than that of the starting material. Frank and van Der Merwe" have shown, however, that it is theoretically possible for nonporous layers to form if the degree of misfit in specific volume is less than about 15 pct. These aspects on porosity formation

Jan 1, 1956

By Frank R. Milliken

Before the rather sudden economic downturn in recent months, shortages of materials were painfully felt throughout the US. The current recession has provided a temporary relief here and there-but energy fuels and a number of staples such as sugar are still in short supply. This is an unsolved and fundamental problem that will haunt us again as the economy turns up. There is an awareness that the nation faces a widening supply gap in many of its most basic materials-from asbestos to tungsten-as evidenced by recent studies and government reports, and by the Secretary of the Interior's annual warnings about the mounting seriousness of the problem.

Jan 3, 1975

By James F. Kemp

The Bulletin of the Institute for March, 1911, is chiefly devoted to papers upon the iron ores of northeastern Cuba. At that time information about the new developments in the peculiar brown hematites of the region was becoming widely circulated and interest was especially keen. For some years exploration had been conducted with pits and trenches and so great an area had been shown to contain ore in the Mayari, Moa, and Cubitas or San Felipe districts, that the reserves conveniently situated for the consumption of American furnaces were estimated as quite two billions of tons. In the subjoined footnote will be found a list of the principal papers of special interest which have already been published.' The further remark may, however, be made that the

Jan 1, 1915

By Carl Altstetter, Roy Adams

Measurements of enthalpy changes and transformation temperatures me reported for the fcc -hcp marten-sitic transformation in pure cobalt single and multi-variant crystals andpolycrystalline specimens. From these measurements the free-energy difference between the two phases was calculated for both heating and cooling and for repeated cycles through the transformation. For heating of single crystals the average value of enthalpy change was 113 cal per mole but on cooling it was 84 cal per mole. This difference is interpreted in terms of lattice imperfections which are introduced during transformation. A calorimeter suitable for measurement of enthalpy changes of athertnal transformations is described. COBALT exhibits an allotropic phase transformation at around 417°C' where an hcp phase (a = 2.507, c = 4.0686, c/a = 1.6228)~ stable at low temperatures transforms to an fcc phase stable up to 1495°C. The transformation has a hysteresis of about 30°C— the exact magnitude of the hysteresis depending on the number of transformation cycles, grain size, impurity content, and prior treatment.'-6 The athermal character of the transformation and surface relief due to transformation shear indicate that the transformation is martensitic. Pole mechanisms for the transformation have been discussed by Sebilleau and Bibrin, Bilby, Seeger,' and Basinski and Christian. These authors have proposed that the cooling transformation is effected by rotation of a Shockley partial dislocation around a pole dislocation with a screw component of 2a/3(111). Such a rotation would change the stacking of close-packed planes from the abcabc fcc stacking to the ababab hcp stacking sequence. This mechanism would predict a lattice correspondence of {111}fcc~~(0002~cp, have been observed. One would expect the heating transformation to occur similarly, involving dislocation movements on the (0002)hcp. However, a high density of pole dislocations and high dislocation ve- locity are required to account for microscopic observations. Furthermore, the high back stress developed on the Shockley partial dislocation as it rotates toward the sessile dislocation associated with it makes it doubtful that this is in fact the transformation mechanism. A mechanism for spontaneous nucleation of partial dislocations1*l2 seems more reasonable. If a single crystal of cobalt is cycled through the transformation but never heated above 600°C, it will remain single."13 However, if the specimen is heated through the transformation and held for a short time at or above 1000°C before cooling, the cooling transformation usually involves all four {lll}fcc habits, resulting in neighboring orientations of hcp differing by 70.5 deg. This condition is termed multivariance and has been observed by Bibring and sebilleau5 and Nelson and ~ltstetter.' The latter authors used single crystals of cobalt grown in an electron beam zone refiner. They proposed that the strongly directional cooling caused the initial cooling transformation to occur on the {lll)fcc most nearly perpendicular to the temperature gradient. Transformation shear on one set of {lll}fcc planes immobilized dislocations on the other {lll}fcc planes involved in the initial transformation. Since there is only one (0002)hcp plane orientation, the product of subsequent heating transformations could have no more than two variants—the original fcc orientation or its twin. If, however, the specimen was annealed at a high temperature, such as 1000°C, there would be relaxation of dislocations into low-energy configurations, and in the absence of a sharp temperature gradient transformation on all four (111 Ifcc planes could occur. If a dislocation mechanism is responsible for the transformation, the perfection of the lattice should affect the reversibility of the transformation. Mutual constraints of neighboring grains in polycrystalline material would inhibit dislocation movement resulting in increasingly sluggish transformation. Indeed, Nelson and Altstetter found the M, to decrease and the A, to increase in going from single crystals to multi-variant specimens to polycrystals. The effect is enhanced by decreasing the grain size of a solid specimen or a powder.6'14 Data on the free-energy difference necessary to initiate the transformation gives information about the driving force of the transformation. This is an important consideration in the understanding of the transformation mechanism. The free-energy change associated with the transformation of the hcp phase to the fcc phase at some temperature T different from the equi-

Jan 1, 1969

By J. F. Nicholas

THE angles between the crystallographic planes in cubic metals were originally given by Bozorth and have been republished many times. Recently, Salkovitz2 tabulated the angles for the hexagonal metals (magnesium, zinc, and cadmium). he most commonly used metal which does not fail into either of these groups is tin, which has a tetragonal structure with an axial ratio of c/a = 0.54558 (99.99 pct purity, 25°C).² ccordingly, Table I has been prepared giving the possible values for the angle, 4, between planes of the types {HKL) and {hkl). The formula used was: Hh + Kk + LI — cos? = —--------------—-----------— A [(H2 + K2 + L2-a2c2(h2 + k2 + r;)] All angles are given correct to the nearest minute as this is sufficient for all practical purposes. Every angle depends in a different way on variations in the value of c/a, but even in the worst cases a variation of about 0.0003 in this ratio is needed to vary an angle by l', which corresponds to a temperature change of 20 °C or can be caused by impurities.

Jan 1, 1952

By Robert C. Weed

Leaching in place at Cananea began in the 1920's on a limited scale. The first plants were small wooden boxes located underground in the Capote and Oversight mines, and output was low. Scrap iron was used as precipitant. Later several other small plants were started up. Leaching was limited entirely to underground areas, and production remained low. The Veta precipitating plant, the first on a larger scale, was put into operation in the late 1920's. After a period of intermittent service it was rebuilt in 1946 and has since been running continuously.

Jul 1, 1956

By Luckie. Peter T., Deurbouck. A. W., Harold L. Lovell, E. R. Palowitch, James K. Kindig

PART 1: DENSE MEDIUM SEPARATION by E. R. PALOWITCH and A. W. DEURBROUK INTRODUCTION During 1974, 43.9% of the 603,406,000 tons (549,099,000 mt) of bituminous coal and lignite produced was cleaned mechanically, of which 82,280,000 tons (74,875,000 mt) was cleaned by dense medium processes.l The percentage of bituminous coal and lignite cleaned mechanically by dense medium processes increased from 7 to 31 % between 1938 and 1974. Dense medium separations include those coal preparation processes which clean raw coal by immersing it in a fluid having a density inter- mediate between clean coal and reject. As there is a general correlation between ash content and specific gravity, it is possible to achieve the required degree of removal of ash-forming impurities from a raw coal by regulating the specific gravity of the separating fluid. Dense medium processes offer the following advantages over other coal cleaning processes: 1) Ability to make sharp separations at any specific gravity within the range normally required even in the presence of high percentages of the feed in the range of 2 0.1 sp gr units. 2) Ability to maintain a separating gravity that can be controlled with ± 0.005 sp gr units.

Jan 1, 1979

By A. B. Cummins

THE past year has been of unusual interest for industrial minerals. It is increasingly evident that requirements for these raw materials move with general economic trends. Thus, with a peak year in the construction, chemical and petroleum industries, the nonmetallic mineral industries have been brought into the complex maze of an economy in which military spending is in the billions and in which the national income and wholesale commodity prices reached new levels. Many industrial minerals are of first rank essentiality in the defense effort and its supporting industries, and since some of these are of limited supply and others dependent on imports, the problems of procurement, distribution and conservation of available supplies make a complicated pattern. Despite some drawbacks and weak spots, the industrial mineral industries have, in general, met the national situation with great credit and many new production records have been set. The general accomplishment in 1951 should be one of satisfaction with confidence for the future. Difficulties, unsolved problems and uncertainties should not obscure the general trend which many consider optimistic. Prices in the main have been upward, in line with the inflation spiral, but nonmetallics appear with some exceptions to be behind the general increases. Labor difficulties have not been serious throughout the year. Retarding influences in expansions and planning have been the uncertainty of the Korean and international situations and a lack of confidence by many in the government economic program and its ultimate impact on the economic structure. It must also be kept in mind that stockpiling, unless all-out war develops, reaches a level and then ceases to be a major sustaining factor in the mineral markets. In accordance with the Defense Production Act of 1950 various control agencies have been set up to establish the desired rate of stockpile acquisitions. The objectives are subject to change depending on availabilities and needs-military, industrial, and civilian. In some minerals there has been disagreement on actual stockpile requirements, and there is some feeling that the needs of defense might be better met if more funds went into the development of new sources of supply of scarce raw materials and more materials were released to industry at this time. Nonmetallic minerals on the strategic and critical list of the Munitions Board as of July 1951 were: Group I; asbestos, some types; bauxite, refractory grade; beryl; celestite; chromite, chemical and refractory grades; columbite; corundum; diamonds, industrial; fluorspar, acid grade; graphite, some types; kyanite; manganese ore, battery and chemical grades; mica, some types; quartz crystals; rare earths; sapphire and ruby; talc, steatite, block; and Group II; bauxite, abrasive; cryolite, natural; diamond dies; graphite, crystalline fines; iodine; mica, muscovite block, stained and lower; rutile; selenium; talc, steatite, ground; zirconium ore, zircon. Details on the current status of stockpiling inventories are not available. The Defense Minerals Exploration Administration has, since April, executed 39 contracts for the exploration of nonmetallic minerals, including twenty for mica, seven for beryl-mica, six for asbestos, three for sulphur and one each for monazite, steatite talc and fluorspar. Total value of these contracts came to $892,059, of which the Government's participation amounts to $689,247. There were on hand at year's end another 97 applications for exploration aid on nonmetallic minerals in twenty different

Jan 1, 1952

MANY members of the National Societies died in service overseas during the World War. No memorial to these engineers has been set up but a unique and interesting suggestion has been made. While Edward Dean Adams, Fellow of the American Society of Civil Engineers, and Associate of the Ameri-can Institute of Electrical Engineers, ,vas in Belgium last June as delegate of the National Societies, En-gineering Foundation, and Engineering Societies

Jan 12, 1927

By R. H. Jacoby, V. J. Berry

When dry gas is injected into a reservoir containing a volatile crude oil, a significant amount of the reservoir liquid phase may become vaporized. The resultant rich gas phase, when subsequently produced, con-tributes to tank oil production. This contribution assumes greater importance, the more volatile the oil in-olved. Oil recovery may be sub-stantially greater than that predicted by conventional frontal-drive methods, which do not consider the vaporization equilibrium between the reservoir oil phase and the injected gas. A calculation method has been (developed to account for vaporiza-. tion of the reservoir liquid phase during gas-injectiorz operations, and for the tank oil production which results from this factor. Recovery performance calculations are presented for a reservoir containing a highly volatile oil. Tank oil recovery is calculated to be about twice that predicted by the use of the conven-rional frontal-drive equations. In contrastto usual pressure maintenance performance results, in which the gas-oil ratio rises at an increasing rate after gas breakthrough, the pre-dicated gas-oil ratio rises rapidly to about 12,000 scf/bhl and then rises much less rapidly. During gas inje-tion, most of the reservoir liquid phase contacted is evaporated by the dry injection gar. The gas-oil ratio during this period is dependent upon reservoir pressure. The higher the operating pressure, the lower the gas-oil ratio. The predicted behavior i., in accordance with laboratory PVT tests made to .simulate the vaporization behavior. In addition to recovery performance predictions, results of the calculation procedure include complete wellstrearn composition data of value in the design of gasoline plant facilities often used in con-rrction with gas-injection operations. INTRODUCTION In the cycling of gas-condensate reservoirs, dry gas is injected to maintain reservoir pressure during wet gas production and to thereby eliminate or reduce ultimate loss of liquids due to retrograde condensation within the reservoir. Gas injected into crude oil reservoirs has a dual function. It displaces oil to the producing wells and at the same time serves to partially or fully maintain reservoir pressure. Oil shrinkage which would occur upon pressure reduction is thereby minimized or eliminated. Accepted calculation methods are available'= for predicting recovery performance of either gas-condensate reservoirs or crude oil reservoirs which are being subjected to gas injection. In gas-condensate reservoirs, any retrograde liquid formed does not flow, and it is necessary to account only for the vaporization equilibrium between this liquid and the injected gas. Conversely, in normal crude oil reservoirs, both the oil and gas phases flow, but it has not been considered necessary to account for any vaporization of the reservoir liquid which might occur upon contact with the dry injection gas. Recently, high shrinkage reservoir fluids known as "volatile oils" have been found in increasing amounts. These oils are characterized by tank oil gravities above 4.5" API, solution gas-oil ratios above 1,000 scf/bbl, and reservoir volume factors above two. Special techniques have been devised for predicting depletion performance of reservoirs containing such oils.74.5.1; One of the characteristics of reservoirs producing volatile oils is that the reservoir gas phase carries a significant amount of oil which is recoverable as stock-tank liquid. This unusual vaporization be-havior implies that an appreciable amount of reservoir liquid would be vaporized upon contact of the oil with dry injection gas. In a gas-injection operation, tank oil recovery would he obtained not only through frontal displacement of the reservoir liquid by the injected gas, but also through production of the rich gas phase. This means that not only are improved methods needed to predict recovery of such oils from reservoirs undergoing gas injection, but it would also be expected that high oil recoveries might be obtained by such operations. When relatively dry gas is injected in to a volatile oil reservoir, phase equilibrium between the injected gas and the reservoir oil will tend to bc established. Initially the most volatile components, such as propane, the butanes and the pentanes, will account for most of the material transferred from the oil phase to the gas phase. As the partially stripped oil phase is contacted with additional dry injection gas, the heavier intermediate components, such as the hexanes, the heptanes and the octanes, will gradually transfer to the gas phase in increasing amounts. This is because the supply of lighter components in the oil phase dwindles due to the stripping action of the injected gas. This stripping action will usually continue to be effective down

By AIME AIME

THE World. Engineering Congress closed as it opened, with a brilliant and dignified ceremony. On Oct. 29, 1929, there were hearty speeches of welcome and of hope for the successful issue of this international gathering; on Nov. 7, the farewells were even more heartfelt expressions, and anticipation gave place to, realization. H. I. H. Prince Yasuhito of Chichibu, who had graciously opened the Congress; was unavoidably absent at the closing ceremony, being on duty with his command at the Army maneuvers, so that the principal speech was made by the President of the Congress, Baron Furuichi. The outstanding statistics of the meetings were: an over-all attendance, delegates and members, of 800 from overseas and 2800 Japanese 83 sectional meetings, all. meetings having practically capacity attendance, this being especially true of Section 11, mining and metal¬lurgy, where standing room only was commonly the rule; and 780 papers were presented, in full or in abstract or by title. H. I. H. Prince Chichibu attended each section on Oct. 31. The large attendance of Japanese students was notable at most sections.

Jan 1, 1929

By Richard L. Gordon, Charles J. Johnson

Electric power demand doubles about every ten years, and because of the associated burgeoning fuel requirements, power stations absorb over half of the coal output in the United States. Throughout the 1960's, demand for coal utilized to generate electricity grew at an average annual rate of 6.5% but coal producers held back greater expansion because they expected nuclear plants to proliferate faster than they actually did. Even so, the growth rate is expected to continue at the 1960's rate until at least 1976. The continuation of the 6.5% growth rate beyond 1976, however, will require additional orders for coal-fired plants during the early 1970's. In fact, plants consuming a total of 130 million tons of coal must be ordered in the next few years. If the requisite plants materialize, total 1980 coal output for electrical power generation will be approximately 600 million tons.

Jan 1, 1971

We are advised by Second-Lieutenant Maxwell E. Erdofy, a member of the Institute, and athletic officer of the 602d Engineers, stationed at Camp Devens, Mass., that his regiment, representing all branches of the engineering profession, is in need of athletic equipment and supplies. The regiment will highly appreciate any assistance in the way of financial contributions, or of apparatus and equipment for their athletic needs.

Jan 5, 1918

By A. R. Kinkel

The Shasta copper-zinc district of northern California lies in the foothills of the Klamath Mountains at the northern end of the Sacramento Valley. It contains two main areas of base-metal ore deposits, the East Shasta and West Shasta districts shown in Fig. 1. The East Shasta includes the area from the Afterthought mine, near the settlement of Ingot on U. S. highway 299 East, to the Bully Hill mine, on the north side of the Pit River, 9 miles to the north- west. The West Shasta, a well-defined northeast- trending district about 8 miles long and 2 miles wide, west of the Sacramento River, Fig. 2, is the western part of the ore-bearing area formerly known as the Shasta copper belt. Referred to in the older writings as a copper arc, this belt was thought to form a crescent extending entirely around the head of the Sacramento Valley, the convex side to the north. Recent studies by the U. S. Geological Survey in cooperation with the California State Division of Mines show that there are two districts, one at each end of the so-called copper arc, which are distinct in geologic structure and ore occurrences, and that there is only sporadic and unconnected copper mineralization between them.

Jan 2, 1955