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By Charles Schwab

WHEN I leave this life, as an employer of labor there is no one thing that I want so much to be engraven upon my monument as the fact that I have been one of the men who have worked, whether with my brains or my hands, for the advance-ment of industry in the United States, and to be regarded, as I should like to be regarded by labor with love and kindly remembrance for our years of association. In my relationship with my employees, I have always contended that every man should be paid for what he does. I will not employ or be associated with any kind of labor of which the organization insists that a man shall receive a fixed sum of money for his day's wages, however poor or good his day's labor may be. What applies to the common laborer applies equally well to the management, the brains of an industrial establishment. I have always thought of industry as a three-legged stool, with capital, management and labor as the legs. All three legs of that stool must be there before that stool can stand up. If you take any one of those legs away, it is going to topple over. The. three must stand together for successful business accomplishment. I believe that a man who has his labor to sell, to put it plainly, has just as good a right to bargain for the best price for that labor as those who employ him. It is a perfect right for him to do so. If the government of our United States is right, our method of handling labor in our Bethlehem plants is right because it is representative and democratic. We have our labor elect delegates; elect representa-tives from their own ranks, who shall meet frequently. That constitutes, as. it were, the House of our great Congress in Washington, the industrial house. We have our management, who represent the Senate, who meet independently. Working men have learned to express their views freely as to whether they are treated fairly and whether conditions are right or wrong.

Jan 12, 1922

By G. A. Beiswenger

The application of the law of supply and demand to the sale of crude oil is generally conceded, but the motives underlying the buyer's (refiner's) demands are not always obvious to the seller (producer). In some cases this obscurity has led to the conclusion that the refiner may be unnecessarily particular when he selects one crude and rejects another. This preference, however, is very largely the reflection of the refiner's product demands and the quality of the stocks obtainable from the selected crude. The purpose of this paper is to point out critical characteristies of the major classes of refined products and to show how crudes vary in their suitability for such products. With relatively few exceptions, available processing methods and addition agents make it theoretically possible to produce any type of refined product from any crude source, although it may not be economically sound to do so. The widespread application of thermal cracking for converting higher boiling stocks into gasoline is well known. More recently cracking and refining in the presence of catalysts9 have been developed, as well as various processes for polymerizing lighter hydrocarbons into gasolines having desirable characteristics.6 For several years, selective solvents have been applied commercially to refining inferior quality kerosene, Diesel fuel and lubricating oil distillates.3 Improved methods for refining lubricating oils from crude residual4 formerly suitable only for fuel, are now in use and a number of special solvent processes are available for dewaxing lubricating oils to low pour point.5 These improved refining methods have been developed not only to meet the demand for improved product quality but also to enable the refiner to obtain quality products from crude sources that would not yield such products by the older refining methods. In many cases, the utilization of these modern refining tools necessitates an appreciable expenditure for equipment as well as added manufacturing costs, and their application therefore must be justified economically. Despite the availability of such tools, the added processing costs involved and yields obtainable may render their application entirely impractical. To illustrate this point, inspections of typical cuts from various crudes

Jan 1, 1940

By Rush Greenslade

The oil and gas lease is the basic contract of the oil and gas industry; it is the foundation stone upon which the producing industry, particularly, is based. As the industry is precarious and highly speculative, the foundation contract should be of the utmost integrity and certainty. But right there an anomaly exists; the oil and gas lease is the most obscure, most uncertain, doubtful contract in the realm of law today. That is a condition that must be considered when taking oil and gas leases, and when buying, selling, and holding them. It may fairly be asked why should this industry rest upon so insecure a foundation. Why should not the oil industry rest upon the contract that is the basis of all industry, the warranty deed? There are many contributing reasons, but the principal one is business expediency. The Anglo-Saxon idea of ownership of land is that every land owner owns from the center of the earth to the sky—all that is above and all that is below—consequently the oil and gas are owned by the person who owns the surface. That idea is not exactly true with reference to oil and gas, for many states have adopted the doctrine that oil and gas are like wild animals; they are fugacious and migratory and belong to the man that traps them. But, except for that doctrine, we believe that oil and gas are owned by the owner of the surface, wherein we differ from the Latin-American countries where the mineral rights are owned by the government. The United States was settled largely by homesteading. The owners of land were, in the main, farmers, who did not have the means or the faith to drill for oil or gas. The operators or speculators did not want to buy the land on the mere possibility of finding oil; hence a compromise resulted by which the land owner gave the speculator or the operator what he called an oil and gas lease, or a right to go upon his land and drill for oil and gas. What is supposed to be the first oil lease placed on record reads as follows: Agreed this 4th day of July, a.d. 1853, with J. D. Angier of Cherrytree township in the county of Venango Pennsylvania that he shall repair up and keep in order the old oil springs on land in said Cherrytree township, or dig and make new springs, and the expense to be deducted out of the proceeds of the oil, and the balance, if any, to be

Jan 1, 1924

AALL, Christian H.,(M'49), Asst Res Dir Monsanto Chemical Co Anniston, Ala AALSETH, Earl P ,(J,51), Amerada Petr Corp Geological Dept Williston N Dak AAMOT, Olav Crone, (M'29), Met Pacific N W Alloys, Inc , Box 6215, Hillyard P 0 Spokane 14, Wash AARING, Floyd D ,(J'48), Petr Engr P 0 Box 130, Calgary, Alta Canada AARCNSON, Hubert Irving, (S'47), Carnegie Inst of Tech., Pittsburgh, Pa ABADIE, Henry G ,(M'43), Asst to the Sup- of Operations, Long Beach Oil Development Co ,255 So Santa Clara Ave Long Beach, Calif ABBISS, H. J., (A'50), Min. Engr., Buchans Mining Co., Ltd.. Buchans, Newfoundland ABBOTT, Clarence Eugene, (M'04), 901 Insurance Bldg , Raleigh, N C ABBOTT, George, (S'52), Mass Inst of Tech Cambridge, Mass

Jan 1, 1952

[I-Institute of Metals Division PAUL D. MERICA, Chairman ZAY JEFFRIES, Vice-chairman W. M. CORSE, Secretary General Committee ROBERT J. ANDERSON H. C. JENNISON L. W. SPRING WILLIAN K. FRANK DAVID LEVINGER R. L. SUHL J. R. FREEMAN, JR. PAUL McKINNEY R. F. WOOD]

Jan 1, 1928

By W. H. Fulweiler

The writer would define the term "Use Classification" as a discussion of the qualities that coal should possess to fulfill the requirements of the industry or process in which it is to be used. The general problem of the gas industry is to transform the maximum amount of the thermal energy in coal into a gas of specified quality. The qualifications that a coal should possess to be useful in the gas industry are complicated by probably a greater number of factors than in most industries. The most important of these is the delivered price of the coal. While the- general problem of the industry is as given above, yet the actual problem is the production of gas of a specified quality at the minimum cost. The relative cost of coal and the selling prices for the residuals which are influenced to a large extent by geographical locations are of determining importance as effecting the cost of the gas. It is unfortunate that we cannot disassociate cost figures from a discussion of the desirable characteristics and this results frequently in the use of coal in one location that will be looked upon as quite impossible in another location more favorably situated. Without going into any discussion of the freight rate problem we might merely point out that in general the freight on the coal is equal to or greater than the mine price. It must be evident, therefore, that price must always be considered in any discussion of the effect of the characteristics of a given coal. Two Classes of PRocesses In discussing the characteristics of coals for use in the industry, we must divide the processes in use into two classes: (1) where the coal is destructively distilled at high temperatures resulting in the formation of coke in the liberation of gas and by-products, and (2) where the coal is consumed by combustion in air or steam with a production of gas and by-products leaving only clinker as a residue. The Germans differentiate these two types of processes in their words"' entgasung'" and'" vergasung."' In the distillation processes, we have the effect of the coal on the yield of gas and its quality; the quantity and quality of coke; and the

Jan 1, 1930

By John G. McLain

OF all the zinc that the world consumed in 1936-'38 the United States took about 31 per cent, and almost 14 per cent of the world's zinc supply in that period was used for galvanizing purposes in the United States. Further examination of the statistics shows that about 71/2 per cent (147,500 tons in 1939) of the world zinc consumption goes into the galvanizing of sheets in the United States, which is what I am going to talk about in this paper. There is nothing especially new about galvanizing; in every year since 1921 somewhere between 41 and 49 per cent of the country's zinc consumption has been used for this purpose, and yet few people not specialists in its manufacture know much about how it is made. You take an iron or steel sheet and dip it in molten zinc and there you have a galvanized sheet-that about epitomizes popular knowledge of the subject even among engineers.

Jan 1, 1941

By C. E. Lesher

THE Disco* process for the production of low temperature coke and its immediate predecessor, the Wisner or Carbocite process have been described in the voluminous literature of low temperature carbonization.1 This paper will describe the development of the process from the first attempt at commercial operation by the American Gas and Electric Co. at Philo, Ohio, Yn the 1920's to the successful operation in 1949 by the Disco Co., a division of the Pittsburgh Consolidation Coal Co., of the 1000-ton per day Disco plant near Pittsburgh, see Figs. 1-2. In the 1924 coal industry depression following the hectic post World War I expansion, the northern Appalachian, unionized bituminous coal fields were affected first and foremost, and Western Pennsylvania as hard as any. Competitive market pressure was heaviest on the lower grades of steam coals, notably the from the Panhandle district where ash and sulphur are inherently higher than in the same Pittsburgh coal bed to the east along the rivers. The firm structure of Panhandle coal while favoring the prepared sizes, depressed the usefulness and value of the finer sizes. Panhandle slack and nut slack were marketed with difficulty at consistent, and at times considerable, loss. Many solutions were suggested, and the Pittsburgh Coal Co. investigated all. Lower delivered prices through lower mine costs and more advantageous freight rates were obvious goals, but equally obvious were the difficulties of self attainment of either in any substantial measure. Selling Btu's in pipes was abandoned as an idea after a thorough study of the economics of distribution of what was then, and is even now, the only developed continuous process of complete gasification of bituminous coal-producer gas. Although the coal company purchased huge blocks of electric power, it sold not a car of coal to the central power stations. Public utilities controlled the markets for electric current, and it was found that no matter at how low a cost current might be put on the bus bars by the coal company, distribution to its widely scattered coal mines made such an enterprise practically impossible. Consolidation of underground operations and a huge modernization program of mining operations in the 1920's were but preparation for the introduction of mechanical cleaning of the coal for market, particularly the smaller sizes of steam, gas, and by-

Jan 1, 1953

By C. E. Lesher

THE Disco* process for the production of low temperature coke and its immediate predecessor, the Wisner or Carbocite process have been described in the voluminous literature of low temperature carbonization.1 This paper will describe the development of the process from the first attempt at commercial operation by the American Gas and Electric Co. at Philo, Ohio, Yn the 1920's to the successful operation in 1949 by the Disco Co., a division of the Pittsburgh Consolidation Coal Co., of the 1000-ton per day Disco plant near Pittsburgh, see Figs. 1-2. In the 1924 coal industry depression following the hectic post World War I expansion, the northern Appalachian, unionized bituminous coal fields were affected first and foremost, and Western Pennsylvania as hard as any. Competitive market pressure was heaviest on the lower grades of steam coals, notably the from the Panhandle district where ash and sulphur are inherently higher than in the same Pittsburgh coal bed to the east along the rivers. The firm structure of Panhandle coal while favoring the prepared sizes, depressed the usefulness and value of the finer sizes. Panhandle slack and nut slack were marketed with difficulty at consistent, and at times considerable, loss. Many solutions were suggested, and the Pittsburgh Coal Co. investigated all. Lower delivered prices through lower mine costs and more advantageous freight rates were obvious goals, but equally obvious were the difficulties of self attainment of either in any substantial measure. Selling Btu's in pipes was abandoned as an idea after a thorough study of the economics of distribution of what was then, and is even now, the only developed continuous process of complete gasification of bituminous coal-producer gas. Although the coal company purchased huge blocks of electric power, it sold not a car of coal to the central power stations. Public utilities controlled the markets for electric current, and it was found that no matter at how low a cost current might be put on the bus bars by the coal company, distribution to its widely scattered coal mines made such an enterprise practically impossible. Consolidation of underground operations and a huge modernization program of mining operations in the 1920's were but preparation for the introduction of mechanical cleaning of the coal for market, particularly the smaller sizes of steam, gas, and by-

Jan 1, 1953

By Robert B. Fulton

It is a pleasure to talk to you about the world economics of industrial minerals on this occasion of AIME's 100th anniversary. In order to fit this topic into the time and tenor of such a session as this where you are hearing subjects equally broad in scope one after the other, I will deal with the subject through the medium of eight minerals selected to illustrate import- ant economic factors. I must admit to some bias in the selection, since I picked personally familiar ones to elucidate facts of life in the industrial minerals business. It is a very interesting field, different in many respects from metals and certainly far different from petroleum. The minerals chosen are celestite, diamond, fluorspar, salt, sulfur, ilmenite, rutile and zircon. Celestite The market for celestite is mainly in the U. S. where it is consumed in the manufacture of strontium compounds for red-colored flares and other pyrotechnics, for the production of electrolytic zinc, for glass manufacture, and for the manufacture of ceramic ferrites. Smaller markets exist in Europe and Japan. Production comes from England, Mexico and Spain, and a new mining operation is being started in Nova Scotia. There is no significant production in the U. S. nor in the other principal consuming countries, except England; so it is mainly an international commodity. Celestite illustrates many of the factors important in the economics of industrial minerals. To have a marketable product, grade and freedom from deleterious elements are important for materials used by the chemical industry. In the celestite used to make strontium nitrate, calcium is the most objectionable of the commonly associated cations. Selling price is adversely affected because nitrate manufacturing costs are greatly increased if calcium is pre sent, hence less can be paid for the raw material. Meeting specifications can add significantly to the vendor's cost; hence a balance must be struck between the producer's capability and the consumer's requirements, permitting a reasonable profit for both. Sizing of industrial mineral products is often important to the consum-

Jan 1, 1971

By John V. Beall

Copper production in the. United States in 1972 amounted to 1,658,000 tons according to the USBM. This figure is up over 1971 but falls below 1970 production of 1,719,101 tons. This report is essentially about the status of copper mining operations in the U.S. and is an update and expansion of the report "Southwest Copper-A Position Survey" published in [A=], October 1965. At that time, the trend was toward using larger equipment to mine lower grade ore and toward the expansion of dump leaching practice. That trend continues today but, it is overlain by intensive activity to comply with existing environ¬mental legislation and uncertainty over proposed revisions of venerable laws governing mining. In the U.S. today there is, practically speaking, no excess smelting capacity so that expansion of copper production through the startup of new mines is inhibited. Owners of a large undeveloped orebody would have to decide before going into production whether to sell the concentrates offshore, which has many problems, whether to try one of several unproved chemical processes for producing refined metal from concentrates or embarking on the construction of a traditional pyrometallurgical plant in the face of considerable uncertainty over the pollution standards that eventually must be met. The situation is such that not only is the present rate of U.S. copper production threatened but the ability to meet projected increased demand in the years ahead may have been severely retarded.

Jan 4, 1973

By H. J. Wasson

WITH the close of 1932 and the third year of the depression, the activity of oil production presents, amidst the general wreckage and chaos of industrial society, a somewhat unique picture of rationalized economic effort. East Texas still dominates the contemporary horizon, but it has become, at least for the time being, a definitely known factor. With its 9500 wells it is approximately 90 per cent drilled up. So long as production control obtains, it is merely one important factor of the national oil reserve. Each succeeding month of stabilized production tends to lull the industry's fears and the menace, both actual and psychological, of this giant field becomes ever more remote.

Jan 1, 1933

By G. A. Beiswenger

The application of the law of supply and demand to the sale of crude oil is generally conceded, but the motives underlying the buyer's (refiner's) demands are not always obvious to the seller (producer). In some cases this obscurity has led to the conclusion that the refiner may be unnecessarily particular when he selects one crude and rejects another. This preference, however, is very largely the reflection of the refiner's product demands and the quality of the stocks obtainable from the selected crude. The purpose of this paper is to point out critical characteristics of the major classes of refined products and to show how crudes vary in their suitability for such products. With relatively few exceptions, available processing methods and addition agents make it theoretically possible to produce any type of refined product from any crude source, although it may not be economi-cally sound to do so. The widespread application of thermal cracking for converting higher boiling stocks into gasoline is well known. More recently cracking and refining in the presence of catalysts9 have been developed, as well as various processes for polymerizing lighter hydro-carbons into gasolines having desirable characteristics.6 For several years, selective solvents have been applied commercially to refining inferior quality kerosene, Diesel fuel and lubricating oil distillates .3 Improved methods for refining lubricating oils from crude residua,4 formerly suitable only for fuel, are now in use and a number of special solvent processes are available for dewaxing lubricating oils to low pour point.5 These improved refining methods have been developed not only to meet the demand for improved product quality but also to enable the refiner to obtain quality products from crude sources that would not yield such products by the older refining methods. In many cases, the utilization of these modern refining tools necessi-tates an appreciable expenditure for equipment as well as added manufac-turing costs, and their application therefore must be justified economically. Despite the availability of such tools, the added processing costs involved and yields obtainable may render their application entirely impractical. To illustrate this point, inspections of typical cuts from various crudes

Jan 1, 1940

By E. Topanelian

In recent years considerable progress has been made in the development and application of mathematical techniques for the solution of certain problems involving economic "strategies". Such a problem might involve, for example, the scheduling of shipments of a commodity from a number of sources to a number of destinations. The object would be to schedule the shipments in a manner so as to satisfy the destination requirements and at the same time minimize the transportation costs. The solution to such a problem is not necessarily intuitively obvious. The "obvious" solution is frequently far from optimum. If the shipments are to be made from, for example, only two sources to four destinations, the optimum schedule is readily found. However, if shipments are to be made from, say, 10 sources to several hundred destinations, even a competent and experienced scheduler may spend considerable time in finding a reasonable answer. Even then he is not sure that he has the optimum solution. Furthermore, he has no way of knowing how far from optimum the answer is. Consequently, he does not know whether he should accept this solution or seek a better one. Prior to the advent of large high-speed digital computers, little more could be done with such problems because of their great size and multiplicity of possible solutions. A problem involving 20 sources and 50 destinations would require choosing, from a very large number of possible combinations, the optimum combination of 1,000 variables. The best one could do was to utilize intuition, extrapolation from past experience, and other non-exact approaches. With a high-speed computer, however, such problems can be solved providing a reasonable computational procedure (or algorithm) can be utilized. The purpose of this paper is to describe such a procedure (linear programming) and to apply this procedure to a production scheduling problem. THE RESERVOIR PROBLEM A simple reservoir model is used throughout this analysis to illustrate the use of linear programming. Even the simplest reservoir behavior problem is nonlinear in both space and time, but if the geometry is fixed for a particular study and the time variable is quantized, the resultant system may be described by linear constraints on the variable production rates. Crude oil is available from five separate sources and is delivered to a pipeline. Sources 1, 2, 3 and 4 are ideal reservoirs and therefore are subjected to reservoir flow restrictions. Source 5 is labeled "Outside Source" and crude oil from this source is assumed to be available in unlimited quantities without considering reservoir conditions. The general problem is to determine the schedule of crude oil production from five sources which, over an eight-year period and subject to certain restrictions, will result in maximum profit. "Profit" is defined to encompass all economic factors and expenses involved in producing and selling crude oil to a pipeline facility. Such economic factors are lumped to the extent that the term represents the dollars profit from one barrel of crude oil from any of the five sources entering the pipeline system. Table 1 presents the assumed profit per barrel for oil from any of the five sources over each of the four time periods. In this chart the eight years is broken into four equal intervals of two years. The selection of four time periods of two years each and the values representing the potential profit are completely arbitrary selections for the purpose of illustrating this idealized reservoir problem. In any practical application of this work a careful economic study would have to be made in order to estimate potential unit profits for time periods as far in the future as eight years. In this particular study it is assumed that all of the potential unit profits (C) are known and fixed before the production schedule is attempted. For each reservoir arbitrary values are assigned for

By Raymond B. Ladoo

TIIe milling of talc, as is the case with many non-metallic minerals, until recently, has not received adequate technical consideration, for the talc industry has become of importance only within the last decade. At first, talc was used only in the massive form, for foot warmers, griddles, and so on, and milling methods were unnecessary. As the demand for ground talc increased, producers adopted the machinery used in the milling of flour; in fact, many talc mills were rebuilt flour mills. Improvement has been slow, but today several types of grinding and separating machinery are in use; many of them, however, are still inadequate and inefficient. To determine the best methods of milling talc, it is necessary to understand the essential properties a talc must possess to fit it for a particular use. For toilet purposes, whiteness, freedom from lime and grit, fineness of grain, and good "slip" are essential. As a paper filler or coating, the talc must be white, uniform, and fine grained, have a good slip, and be free from grit and iron; freedom from lime is a disputed point. Fibrous talc is supposed to be superior to massive on account of the interlocking of grains in the paper, thus increasing its strength; this point, though, is in doubt. In general, talc for the paper industry need not be of as high quality or as fine grained as that used for toilet purposes. Talc is usually bought by sample, for which reason it is difficult to state the essential properties for use in paint, rubber, roofing, and so on. The adoption of standard screen tests and standard grades by producers is necessary before an accurate basis for manufacturing or selling standards can be established. Off-color talcs might be utilized, as in Germany and Austria, by the establishment of standard grades of colored talcs. The machinery to be used depends on whether the talc is fibrous, foliated, or massive; hard or soft; of uniform or variable grade; pure or impure. In some cases, it is possible to change the mining practice or to utilize different sections of the deposit in order to vary some of these factors, but in many cases these factors are fixed, so the milling must be designed to suit the conditions.

Jan 1, 1922

By Frank Peterson

THE manufacture of gasoline by extraction or precipitation from the natural gases in which it is found, the present status of. the industry, its past development and future extensions; offer a subject which is so broad that to handle it in its entirety would require a voluminous paper. The writer will, therefore, attempt to concentrate the essential matter of the subject for a general presentation, giving some of the most interesting details of the factors that are important to the industry. This industry has drawn liberally on the principles of physics and chemistry, and, to a large extent, has had to adapt such information as is most useful-not from data recorded with reference to petroleum, but from data recorded with reference to general treatment of other materials. Because of the complex character of the petroleum series of hydro-carbons and the fact that data, such as solubilities, vapor pressures, etc., of the different petroleum compounds have not been determined, we are still working by rule of thumb in. some essential phases of the industry. Furthermore, the difficulties of determining such data are almost insurmountable. We have not one,, but two butanes to deal with-not one, but several, pentanes, hexanes, heptanes, and, as we ascend in the series the complexity and multiplication of isomers increases at such a rate as to make the task of isolating and studying their physical characteristics almost beyond the hope of possible attainment. The industry is the connecting link knitting the interests of oil producers and refiners into a much closer relationship than ever existed .prior to its inception and development. The relation between the producer and the refiner of petroleum prior to 1910 was. a rather antagonistic one in a commercial sense. It was to the interest of the producer of crude petroleum to sell it for a maximum consideration; the refiner's interest was to obtain the same product for a minimum consideration; therefore, each side of the business transaction retained within his own hands as far as possible the trade secrets of his business. Each side maintained an attitude of cold-blooded business sympathy only for the other. Cas-

Jan 12, 1917

ALTHOUGH iron ores occur in many parts of Sweden the two principal deposits are those at Grängesberg (see accompanying map) and at Kiirunavaara-Gellivare. Both of these deposits are con-trolled by a holding company, Trajikaktiebolaget Grängesberg-Oxelösund, which sells annually about one-half of, the iron in ore traded in world markets and has a fleet of 24 seagoing ore boats, with a total dead weight capacity of 172,500 tons. Because of its pre-eminence in international iron ore trade a brief outline of its operations will be of interest. ORE DEPOSITS OF GRÄNGESBERG The Grängesberg deposits have been known since the Middle Ages, but up to the middle of the nineteenth century the ore was transported from the mines to the furnaces in winter in. sleighs. Railway building began in 1853, and in 1873 the complicated structure of capital investment was tottering, but the basic bessemer process created a demand for ore high in phosphorus, as this is, and refinancing on the initiative of Sir Ernest Cassel put the principal operation on a firm footing. There are numerous property owners in the district, but they are all controlled by a joint administration board, and 90 per cent of the ore is produced by a subsidiary of the Grängesberg company from proper-ties which it either owns or leases. The ore, a mixture of magnetite and specular hematite, is in lenticular bodies, dipping about 70 E. in. fine-grained gneiss, and contains about 61 per cent Fe and 1 per. cent. P. There are two principal veins; the total ore reserves to a depth of 500 meters are estimated at 150,000,000 tons. As seen in the accompanying illustration, the ores were first worked in open cuts, but eventually underground shrinkage stoping was adopted. Difficulties were encountered in the support of the workings and from the freezing of the ore in the stopes, so slicing was adopted, although block-caving is used in one place. Most of the mining is now done at a depth "of 150 to 190 meters. The present annual output is about 1,400,-000 tons of crude ore, which yields about 1,000,000 tons of concentrate after being subjected to magnetic con-centration and jigging.

Jan 1, 1927

By F. P. Peterson

The manufacture of gasoline by extraction or precipitation from the natural gases in which it is found, the present status of the industry, its past development and future extensions, offer a subject which is so broad that to handle it in its entirety would require a voluminous paper. The writer will, therefore, attempt to concentrate the essential matter of the subject for a general presentation, giving some of the most interesting details of the factors that are important to the industry. This industry has drawn liberally on the principles of physics and chemistry, and, to a large extent, has had to adapt such information as is most useful—not from data recorded with reference to petroleum, but from data recorded with reference to general treatment of other materials. Because of the complex character of the petroleum series of hydrocarbons and the fact that data, such as solubilities, 'vapor pressures, etc., . of the different petroleum compounds have not been determined, we are still working by rule of thumb in some essential phases of the industry. Furthermore, the difficulties of determining such data are almost insurmountable. We have not one, but two butanes to deal with—not one, but several, pentanes, hexanes, heptanes, and, as we ascend in the series the complexity and multiplication of isomers increases at such a rate as to make the task of isolating and studying their physical characteristics almost beyond the hope of possible attainment. The industry is the connecting link knitting the interests of oil producers and refiners into a much closer relationship than ever existed prior to its inception and development. The relation between the producer and the refiner of petroleum prior to 1910 was a rather antagonistic one in a commercial sense. It was to the interest of the producer of crude petroleum to sell it for a maximum consideration; the refiner's interest was to obtain the same product for a minimum consideration; therefore, each side of the business transaction retained within his own hands as far as possible the trade secrets of his business. Each side maintained an attitude of cold-blooded business sympathy only for the other. Cas-

Jan 1, 1918

By V. O. Struebing, K. A. Johnson, F. H. Ellinger, C. C. Land

The system Pu-Ce-(Pu,Ce)Co2 has been investigated by thermal, micrographic, and X-ray diffraction methods. The principal characteristics of this system were found to be: 1) a "eutectic" valley extending across the phase diagram from the 6 Pu/Pu3 Co eutectic at 408°C to the 7 Ce/Ce24Co11 eutectic at 42Z°C, the maximum temperature in the valley being 443°C; 2) three ternary inter mediate phases, each having an appreciable mutual solid solubility for plutonium and cerium; 3) eleven four-phase equilibria comprising one eutectic, four peritectics, and six Class II reactions; 4) a pseudobinary section between the ternary phase A and the y Ce solid solution, and another such section between the 6 Pu solid solution and the 77 phase (Pu3 CO) containing cerium in solid solution. ALLOYS of plutonium that are completely molten at temperatures in the vicinity of 500°C are of interest for use in the liquid state as fast reactor fuels. Since exploratory work1,2 on Pu-Ce-Co alloys had indicated that a "eutectic" valley extended across the ternary system between the Pu-co[6 Pu/n (Pu3co)] and the Ce-CO[? Ce/? (ce24co11)] binary eutectics, thus allowing alloys of any plutonium concentration to be selected within the temperature limitation, the present investigation was begun for the purpose of accurately defining the "eutectic" valley. However, when the existence of three ternary intermediate phases and the consequent complexity of the liquid-solid equilibria were discovered, the investigation was expanded to cover the complete system, except for the corner between the isomorphous series PuCo2-CeCo2 and pure cobalt. 1) EXPERIMENTAL The purities of the alloy components are given in Table I. Alloy buttons, each weighing about 5 g, were prepared by arc melting the accurately weighed components (±0.1 mg) under a purified He-Ar atmosphere. Weight loss as a result of melting was usually less than 1 part in 1000; therefore, the buttons were not chemically analyzed. One half of each button was re-melted by induction heating in vacuo in a magnesia crucible and furnace-cooled, so as to produce a somewhat coarser microstructure than that of the rapidly cooled arc-melted button. About 20 g of each alloy to be examined by thermal analysis were remelted in vacuo in a tantalum crucible of the inverted thermocouple well type. The thermal, X-ray diffraction, heat treating, and micrographic methods used in this investigation were essentially the same as have been described in earlier reports.3,4 Two etchants for these alloys were found to be satisfactory: A) 8 (parts by volume) orthophosphoric acid, 5 ethanol, and 5 glycol; B) 7 tetraphosphoric acid, 36 water, and 57 2-ethoxyethanol. Etchant A was used at 5 to 6 v for 15 to 20 sec, and etchant B was used at 10 v for 10 sec. 2) THE LIMITING BINARY SYSTEMS 2.1) Plutonium-Cerium. The phase relationships of this system have been investigated by Ellinger, Land, and Cramer,5 and by Selle and Etter.6 The over-all agreement of their phase diagrams is good, but there are some discrepancies in the positions of some phase

Jan 1, 1967

By G. E. Pralle

INTRODUCTION The decade from 1969 to 1979 saw the crest of a wave of investments by companies and investors, primarily from the major industrial nations, in the metals and minerals industries of the so-called lesser developed countries. This was brought about by two major considerations: 1). The higher ore grades and therefore the higher profit potential of the mineral deposits in the third world countries, and 2). The desire, particularly by the European countries and by Japan, to ensure a safe supply of raw materials not available in their own countries. The decade began with the start of the Toquepala mine in Peru and the major investments in the Bougainville mine in Papua New Guinea and the Ertsberg mine in Indonesia. It ended with the start-up of Southern Peru Copper Company (SPCC) Cuajone mine in Peru and Inco's Soroako mine in Indonesia and the investments in several major alumina or aluminum projects in Australia and Brazil. Concurrent with this huge flow of funds into the mineral resources industry of the developing world was the build-up of a psychological fear in the host countries of exploitation/domination by the foreign investors. This resulted in an increasing trend towards: 1). Nationalization of existing mineral ventures, and 2). Tougher legal/fiscal frameworks for new ones. NATIONALIZATION Nationalization appeared in its earliest form as "Mexicanization" of the petroleum industry in Mexico in the 1930's, followed later by Mexicanization of the mining industry in general. This was enacted with the Mexican Mining Law of 1961 which required that 51% of the equity be owned by Mexican nationals. Later in the decade the equity share for foreign investors was reduced to 33 1/3% for the developers of the Frasch sulphur operations in the Isthumus of Tehuantepec. However, the law was not fully implemented in the copper industry until late 1970 with the purchase of 51% of the ownership in the Cananea Mining Company. The trend toward nationalization of the copper industry progressed to Chile where in 1967 under the Government of Eduardo Frei the major North American copper companies were induced to sell a one-half interest in their Chilean mines to the State. Likewise, in 1970, "Zambianization" took place, when the two major operating companies Roan Selection Trust (Amax) and Zamanglo (Anglo American) were restructured into Roan Consolidated Mines (RCM) and Nchanga Consolidated Mines (NCCM) providing the government with 51% of the equity ownership. Whilst the earlier forms of nationalization in general constituted a fairly priced buy-out (El Teniente, Chile for US$80 million, RCM for US$117.8 million, NCCM for US$178.7 million), the total nationalization of the Chilean mining companies in 1970 under Salvador Allende did not. Later, "Western" countries joined this trend and on October 29, 1973, Mr. Gough Whitlam proclaimed that "overseas capital must continue... in partnership with Australian capital" and "in some special energy cases we have an objective of 100% Australian ownership". In 1974 Mr. Pierre Trudeau stated: "The Liberal Party of Canada sets as an objective that new resources projects in the natural resource field should have at least 50% and preferably 60% Canadian equity ownership". FOREIGN INVESTMENT The situation for the foreign investor in the worldwide resource industry rapidly deteriorated from then on. New features appeared in mineral exploitation and operating agreements, centering not only on local government/local companies ownership but also on increased taxation. The new tax rate (mineral tax, royalty, and income tax) for the semi-government companies NCCM and RCM in Zambia became an effective 73%. Likewise the much publicized and discussed renegotiated Bougainville agreement brought dramatic increases in the total "take" by the PNG Government. More innovative forms of indirect taxation made their appearance and were added to the normal tax burdens of the mineral industry which already

Jan 1, 1985