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By J. B. Morrow

Methods of Coal Preparation Fundamentally, the object of coal preparation is to increase, economically, the value of a fuel by making it more suitable to the uses of the consumer. This can be accomplished in three major ways: 1.Screening or sizing 2.-Mixrng or blending 3.-Cleaning By combinations of any or all of these methods we can prepare coal to meet standard specifications-a process of standardization which is the more desirable the more nearly it approaches the unvarying quality of packaged goods, where the package you buy today and tomorrow is the same as that you bought yesterday. It should be noted that it is readily possible to get good cleaning and still have poor preparation because of faulty screening and mixing, and, on the other hand, it is possible to get a passable grade of cleaning, combined with good screening and mixing facilities.

Jan 1, 1931

By E. C. Winegartner

In producing and selling coal, the coal company is faced with many different parameters by which the quality of its product is evaluated. One type, which we choose to call the economic parameters, includes moisture, ash, sulfur, and Btu's. These are reasonably well understood by both the coal supplier and the customer, and the dollar values can be placed on them. This is the group of parameters of primary interest to most purchasing agents buying coal. A second group of parameters governs how the coal will behave in the boiler itself and is of primary concern to the engineers designing the boiler and to the men who must operate and maintain it. Since we have not yet learned to put dollar values on these parameters, they generally show up in coal contracts simply as cutoff points, the purchaser simply saying that he will not accept coal outside of certain limits.

Jan 1, 1975

U.S. Signs Pact With Miami Copper Miami Copper Co., of Arizona has agreed to mine lowgrade copper ores in an extension of its Globe-Miami mining district operations at a guaranteed price of 27.35[] per lb, under a contract signed with defense Materials Procurement Agency. Terms of the contract call for delivery of 230 million lb of refined copper between 1955 and 1962. DMPA said highgrade ore in the de posit will soon be exhausted and it is considered advisable to have Miami continue the operation. The Government has an option to buy 120 million lb of refined copper from present production at market prices. Miami will develop the new ore- body at its own expense-estimated at $3 million. If losses under the new contract reach a specified point, Miami may cancel the agreement. The company plans to use the block caving method in the underground operation.

Jan 4, 1953

By Jan H. Hommen

TRENDS IN MINE FINANCE Reviewing historical trends may help in dealing with future funding strategies. The first trend is the increase in the use of debt to fund corporate America. Surprisingly, when comparing that with other corporates in the global marketplace, the U.S. does not look too poorly. Japanese, in particular, but also German companies, are much more leveraged than their U.S. counterparts. Note that in Japan and Germany the government and the consumer have shown substantial restraints when it comes to credit. Not so in the U.S. where the savings rate (4%) is much lower than that in Japan (20%) and in Germany (14%). As a result, the cost of leverage is substantially lower in Japan and in Germany than in the U.S. Lower debt costs in these countries allows one to obtain more of it for the same price. The close relationships between financial institutions, corporations and governments in Japan and Germany also make the risk of leverage more bearable and understandable. Also note that interest rate volatility in these countries is more subdued. The investor base in common stock is also changing. Private pension funds have been net sellers of equities during the last few years while public pension funds have been net buyers. Individuals are basically out of the market. It is estimated that over $330 billion of equity was retired in the U.S. through 1986-1988. The reasons are well known: restructurings, buy-backs, takeovers, mergers, and buy-outs. This de-equitization is likely to continue as the cost of equity capital is higher than the cost of debt capital, even on a before-tax basis. Because there has been no market for equity since October 19, 1987, junk bonds have replaced equity capital in the corporate finance structure. The non-investor-grade borrower has access to the public markets through high-yielding debt securities that often look like senior equity. Deregulation has also provided 24-hour markets; securitization can now liquify assets that before were rusting on balance sheets; information processing and communication tools give facts that are instantaneously available, creating the need for products to cover risk and exposures unknown before the start of the information and technology explosion. Thus we now have swaps, options, futures, options on futures, caps, as well as program trading, portfolio insurance, index funds, etc. Globalization will be unstoppable. Today's environment demands it. Corporations are now global competitors, even though they may have never shipped a product off-shore. Boundaries are disappearing and impediments have been removed. Stocks can be issued in a global offering with distribution in all major financial centers of the world. The high leverage of Japanese companies has made common stocks very scarce, which with the high savings rate, makes equity capital inexpensive in Japan. If markets were perfect everyone would issue stock in Tokyo and buy it back in New York. This would certainly stop the bleeding on the balance of payments. With the deficit balance of payments in America, it is no surprise that the cost of money is expensive here. The risk-return relationship on U.S. equity is not favorable enough to appeal to Japanese equity investors. The Tokyo-market, helped by a stronger yen, surpassed New York as the most important equity market in the world. The question is, will the Tokyo market hold up when Japanese domestic consumption increases at the expense of savings? In the U.S. debt markets, the plain vanilla debenture is making a comeback after a period of absence. Commercial paper has replaced short term bank borrowings for working capital funding by larger corporations. The banks have made an interesting comeback with loan sale programs that will continue to attract borrowers. There will be a continuing

Jan 1, 1990

By K. E. Harley, M. J. Whiting, T. J. Sabin, E. M. Ryan, J. F. Watts

"Wire and Arc Additive Manufacturing (WAAM) has the potential to enable a very significant reduction in buy-to-fly ratio compared to conventional manufacturing through the ability to build near-net shape components. Components manufactured from AA 2319 by WAAM can exhibit significant levels of porosity. There is also a variation in the physical appearance of the surface deposit sometimes found on such components. This deposit is similar to those observed on aluminium joined by MIG and TIG welding processes. It has been suggested that both the bulk porosity and the surface deposit are caused by hydrocarbon-based lubricant on the feedstock wire. An established correlation between surface deposit and porosity would offer valuable insight into WAAM products and enable early interventions in quality control or process monitoring based on visual examination. The relationship between the nature of the surface deposit and porosity has been studied for AA 2319 WAAM components manufactured using different wire batches. Evidence is presented to support the assertion that (i) there does not appear to be a relationship between surface deposit coverage and porosity, (ii) batch-to-batch variability in feedstock wire affects porosity. This study has led to a better understanding of the cause of porosity in WAAM components.INTRODUCTION There is a high cost associated with conventional, subtractive manufacturing because of the high ‘buy-to-fly’ ratio, a measure of the initial material bought compared to the material found in the finished part (Allen, 2006; Yilmaz & Ulga, 2016). A typical aerospace product may have up to 90% of the purchased billet of forging machined away which is cost inefficient and high in material waste. Wire and Arc Additive Manufacturing (WAAM) has the potential to reduce costs and lead time. Robotically controlled weld torches rapidly deposit feedstock wire in layers to build large near-net shapes with mechanical properties similar to those of conventional manufactured parts (Sequeira Almedia & Williams, 2010; Martina et al., 2012; Ding et al., 2015; Williams et al., 2015). A high level of porosity variation has been observed in aluminium WAAM parts (Cong, Ding & Williams, 2014; Gu et al, 2016) which can result in a range of material properties (Rudy & Rupert, 1970). This leads to difficulties in regards to standardisation and qualification of process and parts. In order for WAAM to be used commercially, porosity will need to be understood, monitored and reduced to a reproducible acceptable level or eliminated."

Jan 1, 2018

FOLLOWING the presentation of the papers by Messrs. Mahan and Butler, the discussion printed below ensued. A. C. LANE* With particular reference to the New England con-sumer, I entirely agree with Mr. Mahan that intelli-gent marketing methods will do a good deal, but there is more than one way of improving them. For instance, coal can be shipped best to New England about this time of year-after the storms of the winter and before the movement of crops in the summer. For that reason there ought to be seasonal freight rates. This will be agreed to by most coal men if you will ask them, especially those who are connected with large concerns like the Metropolitan Coal Co., and yet they do not get seasonal freight rates partly because the railroads are afraid if they once reduce them they will never have a chance to get them back again. But it would be an improvement to have seasonal freight rates. Another thing: When we are buying in New England we want really a certain amount of heat value in our coal. There is no great advantage in our buying ash, nor is there any particular advantage in the railroad shipping ash and clogging the circulatory system of the body politic any more than clogging the circulatory system of the physical body. It would be desirable if the wholesaler, and to some extent the retailer, could guarantee the amount of ash or sell their coal on heating value. If you are interested in that you will find some interesting charts, in "Anthracite Coal Costs Analyzed," a pamphlet issued by the Anthracite Coal Consumers Association, Inc., New York City, as to rates from various and sundry points for bituminous and anthra-cite coal from the field to New York, Buffalo and Chi-cago. Here in New England they are both up against the competition of oil. About 3 or 3 1/2 bbl. oil will do the work of a ton of coal. One of my millionaire friends who is well posted on the situation is putting oil in his Commonwealth Avenue house because it is the most economical. Moreover, we can get Welsh coal from across the water (and help equalize this matter of exchange with Europe) in close competition with Penn-sylvania coal.

Jan 4, 1928

By Tracey Bodnarchuk, Philipp Mirzoev

Sulfate balance control is a common problem for zinc plants. Roast-leach-electrowin plants are mostly concerned with the over-generation of sulfates while for the HudBay direct leach plant both extremes are possible including potential necessity to buy sulfuric acid to replenish a sulfate-depleted circuit, which makes the problem doubly important. Quantitative methods were applied at the HudBay plant to analyze sulfate generation/depletion based on a local sulfur balance and sulfate extraction calculation in the leach circuit, using a Pb-tie method. Main factors were established influencing sulfate generation/depletion, including the critical role of Pb and pyrite. Regression analysis proved to be effective and allowed the quantitative prediction of Pb concentrations necessary to reach the equilibrium for the sulfate balance. This in turn provided a firm basis for a sulfate-control strategy realized through concentrate blend correction, which allowed the plant to fine-tune sulfate generation/depletion effectively reducing economic consequences of excessive/deficient sulfate generation.

Jan 1, 2015

By Paul M. Tyler

MARKETWISE the year 1935 was rather a good one for most of the rare and minor metals; as a class they climbed out of the depression much faster than the common metals. The diamond market, too, was better than it had been for years, attributable only in part to investment buying, as there was a genuine pick-up in consumer demand. Wars and rumors of war tended to speed up purchases of certain metals, but consumption for peaceful purposes was the principal factor. Significant was the important role played by new industrial uses. New discoveries during the year were disappointingly few, considering the broad extent of this research frontier. Scientific developments were far from being at a stand-still, of course, but the dominant note was the cashing in on research consummated in former years. With even a moderate upturn in general business a surprising number of laboratory ideas donned overalls and found jobs in industry.

Jan 1, 1936

By ABBOT A. HANKS

WHEN gold was discovered in California, and San Francisco grew almost over night from a handful of people to many thousands, one of the first difficulties experienced was the lack of money. Gold dust in considerable quantities was rushed into the city from the various mining camps but there was no money. Purchases were paid for by weighing out dust in hand scales. We can appreciate' the difficulty of paying for a drink or buying a postage stamp under these conditions. All this gold was in the form of dust from placer workings and the first metallurgists were the assayers' who melted and refined this gold, casting it into bars which were weighed, assayed, stamped with fineness; value, and the name of the assayer. Many .of these plants were of considerable size, handling shipments that were accumulated by banks and express companies throughout the "Diggings" and sent to San Francisco to be shipped by water to the eastern states. Several

Jan 1, 1931

By Richard E. Barrett

The relationship between coal characteristics and power plant performance has become a matter of increasing interest to utilities. This relationship can affect the value of coals, decisions as to coal washing, setting penalties for delivery of coal that fails to meet specifications, and justifying buying better coals (at higher costs) before public utility commissions. The study described in this paper was directed to identifying how coal characteristics impact on boilers and related coal and gas handling systems. TVA data for the period 1962-1980 was the basis for the study. Models were developed for boiler efficiency, boiler availability, and maintenance costs as a function of such coal characteristics as ash, sulfur, and moisture content and boiler age. Boiler load and maintenance efforts were considered as variables in some of the models, but were found not to be statistically significant. Although the results of this study are strictly applicable to only the TVA system, they can serve as guides or first approximations for other utilities.

Jan 1, 1983

This brief overview of the history of Brown Coal mining in Victoria is a luncheon presentation -I do not intend to make it indigestible with extensive listings of resources or production. There is a vast pantry of collated historical records and of vari- ous predictive studies available for the enquired with a hearty digestion. A gourmet collation is provided in The Aus IMM Monograph No 11 published in 1984 entitled "Victoria's Brown Coal-A HUGE FORTUNE IN CHANCERY", currently still on offer by the Institute and available at a bargain price in the foyer at this conference. Monograph No 11 also provides a feast of excellent references on the theme of Victorian Brown Coal assembled by the several contributors. In contrast, my presentation paper is a fast-food service, extracts from the printed paper only-you have no choice-you "get what you get" and in small quantity. I hope it will tantalise your appetite -like Oliver Twist you will ask for more. -Buy the Monograph!

Jan 1, 1989

By John Matthews

During 1982 and 1983, it became increasingly clear that North River No. 1 Mine would have to buy a set of replacement longwall shields. Despite extensive efforts to make improvements, the shields that were in place at that time were incapable of holding the roof. North River Energy had limited experience in specifying and acquiring longwall roof supports, but a great deal of experience with our conditions and needs. We there- fore compiled a shield evaluation method that uniquely responded to our situation. The resulting system emphasized teamwork among operating, maintenance and engineering personnel. The charge from management was threefold: select shields to support maximum expected loads, optimize face operations, and pay attention to detail. Final selection was made objectively, based on all available information. We chose a 5516 KN (620 tons) support with a minimum yield load density of 760 KN/m2 (7.9 tons/ft2). This paper reviews our process of specification, design, prototype testing, and fabrication, and offers some relevant suggestions.

Jan 1, 1986

By O. G. Lellep

IN every country economic circumstances prescribe the method used to produce a commodity at lowest cost. In Pennsylvania a man's wages for working 4 hr buys a ton of coal wholesale; in Germany a laborer must work 40 hr, or ten times as long. In western Europe, therefore, conservation of fuel is of primary importance, and recent practices of burning lime and cement differ from those employed in the United States. This paper presents data collected during a trip through western Europe in 1953. Considered uneconomical, shaft kilns for burning cement disappeared in the United States two generations ago. But because required capital investment is low and operation greatly improved, shaft kilns are still used to some extent in Europe, where fuel costs are high, and are even included in designs for plants under construction. During the last 50 years shaft kilns have been maintained at the same physical size, while their output has been increased at least four times.

Jan 7, 1954

With the dawning of a new century came the beginning of a new era in the coal industry. Instead of the traditional practice of only buying and selling produced coal in the United States, a coal futures market was established. The New York Mercantile Exchange began trading coal futures in July 2001. But, even in this new era, many of the old is-sues that have beset the coal industry still remain, as was evident in2001. Coal production increased to are cord level during 2001, according to preliminary data from the US Energy Information Administration(EIA). Production in 2001 rose by4% to 1.01 Gt (1.12 billion st), compared with 2000 (Table 1). This barely surpassed the previous record level of 1 Gt (1.11 billion st)set in 1998. Coal consumption remained unchanged. The additional production was used to replenish the depleted stockpiles that had resulted after two years of declining coal production and increasing coal consumption.

Jan 1, 2002

By V. B. Dale

San Manuel has been a modern prodigy from its inception to its present status as a block-caving operation producing 33,000 tons per day. The deposit was discovered, prospected, and developed with modern techniques, and nearly all planning was done from results of an extensive drilling program through an average overburden of 670 feet. The Federal Government had a prominent part in the discovery and primary development of San Manuel. The first 17 holes were drilled by the Bureau of Mines, and discovery of the large, low-grade, disseminated copper deposit is credited to the Bureau. A loan fund of 94 million was granted through the Reconstruction Finance Corporation to the San Manuel Copper Corp. for development of the deposit and erection of concentrating and smelting facilities. Then, while the mine was still being developed, the Defense Materials Procurement Agency contracted to buy a large amount of copper at a pegged price.

Jan 1, 1962

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 8, 1924

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

The United States is being invaded... by foreign capital: marks, francs, pounds, yen, lire, riyals, you name it: On almost any given day the Wall Street Journal will contain a new report on a department store, newspaper, bank, hotel, agricultural land, supermarket chain, et a1 being bought into by overseas investment. Xenophobic reaction to this revised national condition has begun to set in. Several farming states have and are introducing legislation to monitor foreign land buying. In Congress a mandatory reporting requirement for foreign purchasing is currently under study. In a relatively short period the country has reverted from world leader- ship in overseas acquisition and involvement to become itself one of the prime investment opportunities in existence. Interestingly enough, one of the industries where this changed status has become most apparent and pronounced is within that small/regional/segmented/low value-to-weight bulk commodity enterprise ranked as the backbone of the nation's construction activity. U.S. cement making is not only undergoing internationalization in its ownership, but also in its product, equipment, and engineering expertise.

Jan 1, 1979

By Robert F. Calman

OUTLINE FIVE EXAMPLES OF GOLD-LINKED FINANCINGS 1. Financing the Lupin Mine • Sale of Cdn $40.0 million of 12% preferred shares and Cdn $40.0 million of Gold Purchase Warrants @ $595 per ounce. 2. Financing the Copper Range acquisition • Borrowing 100,000 ounces from a Canadian chartered bank @ US$307 for five years. 3. Financing the Round Mountain expansion • Borrowing up to US $80.0 million in dollars, convertible into gold, repayable over five years from a group of North American banks. 4. Financing the Tenneco Precious Metals Division acquisition •Sale of SFr 110.0 million of ten year 3-718% bonds with warrants to buy 132,000 ounces of gold at US $560. 5. On Forward Sales, Puts and Calls • Gold, Silver, Canadian Dollars, Swiss Francs THE FINANCIAL RULES AT ECHO BAY 1. Never bet the company 2. Equity is the primary form of capital for a gold mining company 3. On debt 4. The Yardsticks for Corporate Decisions 5. Financial Community Relationships 6. Dividend Policy No Text Available Tables Follow

Jan 1, 1990

By Howard L. Hartman

Pardon my audacity, but I feel that this is the solution, not just a solution. Further, I will be so bold as to maintain that this is the last-ditch, eleventh-hour chance for the mineral industry to solve its critical technical manpower shortage. I am not being facetious. I am convinced that there is only one solution--just as there is but one real cause of the problem. My conclusion 'is reinforced by countless talks of endless hours with people both in and out of the industry, with employers and employees, and with educators and students. While I claim no originality for the idea and have no pride of authorship, I am concerned that the industry hear and heed in time. It is quite unlikely that the mineral industry and the mineral engineering profession will willingly subscribe to my thesis or gladly buy my proposal. I am convinced, however, that it is the only course of action open to us, and the only course of action which will succeed.

Jan 1, 1967