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SME-AIME Fall Meeting and Exhibit

Jan 9, 1979

By Carroll C. Bailey, William F. Boericke

Mine financing, or providing adequate capital for developing and bringing a mining property into production, is an essential requirement for a successful operation. Today it presents a different picture than even twenty-five years ago. The day appears to be gone when a mining property could pay its own way from grass roots to production. The country has been quite thoroughly combed for surface showings from which sufficient initial profit could be immediately garnered to pay for further development and production facilities. The four M's for success in mining-mineral, market, management, and money-are still essential; but doubled or tripled wage costs and steep advances in cost of equipment and supplies throw increased emphasis on adequate capital funds for bringing in a prospect and making it a producer. Consequently, the old picturesque, although seldom rewarding, grub- staking procedure where a single venturesome citizen might advance funds to a prospector on a fifty-fifty basis for whatever discovery he might find, has largely disappeared. Its place, to some degree, has been taken by the small syndicate of venturesome members who band together for furnishing funds to a group of prospectors for the same general purposes. Such a syndicate has a definite organization and is usually assured of sufficient initial funds, or flow of funds, to carry on work for several years. It is headed by an engineer-promoter who has had considerable field experience as well as personal knowledge of his prospecting crews. For the owner of a potential mining property who has ample capital, the problem is to determine (1) justification for the necessary investment in exploration and development, and (2) the economics of the enterprise as to size and degree of integration of the final operating entity. If the owner of such a property has little or no capital, he also faces these same basic problems but, in addition, must be able to present the findings of fact and persuade the prospective investor that the enterprise will produce

Jan 1, 1959

By J. R. Stone, G. D. Storm

Design features and operating methods of ASARCO's new unit for the continuous melting and casting of tough pitch copper at Perth Amboy are described. Preliminary studies made for determinitzg economic feasibility and design details are also presented. Cathodes are preheated with oil and melted in an electric furnace at 40-ton per hr rate, from whence the molten copper is fed simultaneously to the wire bar casting wheel and the continuous casting of cakes and billets. In the early 1950's the copper refining furnaces at ASARCO's Perth Amboy plant reached a point where major expenditures would have to be made for replacement of the furnaces and the auxiliary equipment. The problem was whether to continue with the standard reverberatory furnaces or to consider continuous melting in electric furnaces. Reverberatory furnaces have been used for years in the copper industry and for some 50 years at the Perth Amboy plant. Reverberatory melting practice, however, imposes certain restrictions. First, labor costs are high, usually requiring three shifts per day. Secondly, they operate on a batch basis, the conventional operation being a 24-hr cycle including

Jan 1, 1961

By Walter J. Mead

By American tradition, if not by rational decision, publicly owned natural resources have been transferred to private industry for processing. The process of transfer requires specific determination of the price which the patentee, buyer, or lessee must pay to the government in exchange for the right to develop a resource, and selection of the patentee, buyer, or lessee from among several possible contestants. Pricing of natural resources owned by the government presents a set of problems quite different from ordinary commodity pricing. Natural resources in situ are not homogeneous commodities. Within any class of natural resources, specific leasable parcels will differ in value by reason of location and accessibility, as well as quality and quantity. Thus, there is no "going price;" every lease within a specific resource class will have a different value. To complicate further the pricing and buyer selection problems, competition may not be reliable. Natural-resource markets are characterized by oligopsony conditions. In a significant number of cases, as will be shown later, there has been only one bidder for a given lease, and in most lease sales the number of bidders is equal to or less than three. As a further complication, there is great uncertainty regarding the value of specific resources, even among the best-informed buyers, as well as within the leasing agency. In some instances, particularly with regard to oil and gas resources, there may be uncertainty about the presence of resources, as well as the quantity and quality of any resources contained in the tract offered for lease. In other cases, such as oil shale and some deep ocean minerals where new technologies are involved, the presence of the resource is clearly established. There may be a relatively high degree of knowledge about the quantity and quality of the resource, but there is great uncertainty concerning the cost of production. These problems in total make it difficult for the leasing agency to appraise accurately the resource to be leased, as well as for the potential bidder to calculate a bid price that will yield him a normal profit. The pricing goal of the federal government as the seller or lessee may be to capture the economic rent; that is, the price of a resource might equal its discounted present value. A required price substantially above this amount would either generate no bids, or, in the long run, would bankrupt the buyer. A price below this amount is a disguised subsidy to the lessee. A subsidy to mineral lessees, as to any other economic interest group, as a minimum should be justified by a clear showing of net external benefits from the economic activity. In the case of timber sales by the U.S. Forest Service, the Forest Service Handbook asserts that "the aim in national forest stumpage appraisal is to determine market value,"8 and "market value" is equated to "fair market value." Regarding minerals, there is no reference in legislation or regula-

Jan 1, 1976

By James P. Sloss

A PERMANENT assay office is commonly established as part of the general plant equipment of operating gold and silver properties, but during the development stage of a mine, the cost of such an office is usually so assay work must be done elsewhere. In most instances only a few samples will be taken each day, but if the mine is to be developed scientifically, the analyses of those samples will guide further development. Under such circumstances, the time element in assay returns is important, since the lapse between the taking of the samples and the receipt of results may determine the success or failure of a small-mine operator. The following description of fur-

Jan 1, 1935

By M. A. Schimmelpfennig, A. D. S. Gillies

Loss of visibility due to the occurrence of atmospheric fogging in underground mine airways can lead to longer travel times and loss of production efficiency, an increase in the frequency of vehicular and foot traffic accidents and difficulty in checking rock surfaces for instability and loose material. Where hot and humid surface air meets colder underground air, conditions for fog formation may be present. Further, suspended particulate matter from diesel exhausts or stoping operations together with slow movement of air along passageways may contribute to formation. This study describes an investigation being undertaken with the cooperation of Kennecott's Ozark Lead Co. to identify causes of the problem.

Jan 1, 1984

How Mining Engineers Will Fare in 1977 Mining Education- The State of the Discipline Coal Mining Technologists are a New Force in the Labor Pool Trained Manpower Provided by Mining Technology Programs Putting New Engineers to Work-A Management Perspective

Jan 1, 1977

By Edward W. Parker

(Toronto Meeting, July, 1907.) NOTE.-The material from which this paper has been prepared was collected for the U. S. Geological Survey Bulletin, Contributions to Economic Geology, 1906, and appears also, though in somewhat more extended form without illustrations, in that publication. ALTHOUGH the briquetting of coals and lignites has been carried on for many years in Europe, and has reached a particularly high state of development in France, Belgium, and Germany, it has made comparatively little progress in the United States. The causes for the backwardness of the United States in this regard are several, and first among them has been the abundant supply of cheap raw fuel with which the manufactured article has to compete. With our millions of acres of coal-productive territory, from which the product can in most cases be cheaply extracted, it has appeared in many districts more economical to waste the slack or culm, which con¬stitutes a considerable percentage -of the product, than to attempt to save it at the additional expense required for briquetting. It is for this reason that the view in all sections of the anthracite-region of Pennsylvania is marred by the unsightly culm-banks which encumber the ground, and that in some of the bituminous-districts one sees huge piles of unmarketable- slack allowed to burn up in order to get rid of them. When the coal is of a coking quality, or when the slack can be used for steaming-purposes, these losses are not sustained, but many thousands of tons of what might be converted into usable fuel have been wasted every year simply because of the increased expense involved in its preparation.

Sep 1, 1907

By Joseph Jensen

MANY fields have been zoned by nature with shales and intermediate waters between oil zones. Limitations thus imposed have been the basis on which the field was developed. In contrast thereto, in the Ventura Avenue Field, nature proved more generous. Always expecting to find such similar limitations, operators drilled deeper and deeper into the oil zone without finding any distinctive shale bodies other that the Gosnell shale and only one intermediate water, which became the point below which the final water shut-off of each well was made. Thus, on top of the structure, about 3300 ft. of oil-bearing zone has been penetrated below this intermediate w9ter-a distance of 4000 ft. below the Gosnell shale. At first it seemed that the greater the penetration in the zone, the better the well. The error of this assumption became evident

Jan 1, 1930

By Oliver Bowles

PRICES of quartz sold in the United States in 1938 ranged from $1.15 to $36,000 a ton. This startling variation was due simply to the differences between glass sand and rock - crystal, materials that are virtually the same in composition. It illustrates the complexities in qualities, uses, and values of industrial minerals. It is generally stated that mineral deposits are exhaustible resources which can never be replaced when depleted. This statement is no longer true with respect to certain industrial minerals now recovered in increasing quantities from that most inexhaustible of all sources of supply, the ocean. Salt has long been obtained from sea water, particularly on the Pacific Coast, and reference was made a year ago to the large bromine recovery plant at Wilmington, N. C. Now the Westvaco Chlorine Products Corp. is operating a large plant at Newark, Calif., having a capacity sufficient to recover daily from the ocean raw materials that will produce 60 tons of various magnesium products. Lime is used to precipitate the magnesia from salt-water bittern. The products are chiefly magnesium carbonate for chemical uses, periclase and other refractories, and oxychloride cement for flooring.

Jan 1, 1939

By Francis A. Thomson

T HE engineer of today is by his training, by his traditions, and by the service which he must render, irrevocably committed to taking his part in public life along with the members of the older professions of ministry, medicine and law. Nevertheless, in comparison with these: three, so long recognized as the "learned professions-all three of which grew out of the functions of the priesthood-engineering in any modern sense of the word is a youthful profession indeed. So youthful is engineering in its present significance, that it may be said to date from the labors of John Smeaton, the lighthouse builder; of Simon Newcomen and James Watt, the inventors of the steam engine; and of George Stephenson, the inventor of the locomotive; at the dawn of the 19th century. Great works of an engineering character had, it is true, been executed long before this, but practically all of them had been rule-of-thumb enterprises, dependent upon a plethora of slave labor for their accomplishment. For illustration it is said that at Rio Tinto in the days of Hiram, king of Tyre, 40,000 men worked for a year to produce three tons of silver from the rich outcrop ore. Such an operation can scarcely be called an engineering enterprise, however, when we remember that a fourth of this number of men in these same mines, from which the richest ore was long ago extracted, produce at present over 100 tons of copper per day.

Jan 1, 1925

By Robert Hunt

ONE of the most serious and important economic administrative problems facing American railway authorities to-day is that of their rails, and it is one to which much thought, is being given, not only by the executive officers of the railways and the manufacturers of the steel rails, but also by State and National commissions. It is realized by many and admitted by some that the present situation is one which cannot continue. The roadways of railways must be made more secure, or the weight of rolling stock and the speed of trains must be lessened; and the desired result must be attained with the minimum outlay of money, both in expenditure on plant and in cost of operation. If the investment per mile is too large, or through the lessening of tonnage and efficiency of equipment the cost of operation is too great, the desired and demanded cheap service cannot he rendered to the public. Therefore, the weight of equipment cannot be greatly reduced, and lessening the rapidity of service would be far from satisfactory; consequently, the safety of the roadway must be secured with the least practical outlay. It is imperative that the roadbed should be properly graded, with the fewest practically possible curves; that it should have good ballast, be well drained, have good ties properly spaced, and be laid with sound rails of suitable weight, efficiently joined together, and that the whole property be carefully and intelligently cared for. My province is to treat of the sound rails. During the last few years there has been renewed interest in and discussion of that question, and I know that many rail makers not only have been and are desirous of maintaining the highest standards of manufacture which they may have attained, but have been and are seeking to better their product, in several instances devoting much time and money to that end. At the same time, they realize that the cost of any improvement in quality which they may accomplish must be kept within certain commercial bounds; and that fact is as fully understood by their patrons as by themselves, and it should be kept in mind by all who discuss the question.

Jan 2, 1914

By J. R. Finlay

BEFORE entering into the statistical part of this article, some general comments may be ln order. Each important war seems to introduce a new atmosphere and a new epoch. The Civil War led to the period of great interior development in North America, of the transcontinental railroads, and of large-scale manufactures. The first World War introduced the general use of the automobile, the building of a huge network of highways, the radio, and household engineering. Now I expect World War II also to introduce some new ways of living. Transocean aviation will become a commonplace; we shall probably have much more of an eye to our military and naval establishments and be more conscious of Eastern Hemisphere affairs instead of thinking so exclusively of the Western. Each war has also multiplied government expenditures and taxes; and to this rule the present one will certainly be no exception.

Jan 1, 1944

By LESTER W. STRAUSS

OUR early knowledge of history and geography attracted most of us to the mineral resources of South America. The romantic tales of the Spanish activities, which were curiously alluring, and Prescott's exceptional bi-Conquest histories-Mexico and Peru-no doubt fired our minds with the .then metallic wealth of the Spanish colonies. Later developments, intensified within the past eighty years, have, however, changed its fame which now rests on such metallics as copper and tin, and among the non-metallics on nitrate of soda and petroleum. South America proper, excluding Panama, is made up of thirteen countries, a coincident parity with our original thirteen States. Its area is given as 7,231,300 square miles, or slightly less than North America (8,037,000 square miles), is made up as follows:

Jan 1, 1930

By Henry Wurtz

HERACLITUS, a sage of antiquity, called the dark philosopher, who refused a throne, preferring a hermit's cell, propounded, twenty-four centuries since, the maxim : [ ] War (or strife) engenders all things. This, though probably intended by Heraclitus to apply especially to the internal forces of nature, is often said, with equal reason, of the affairs of men. Controversial strife, whether fortunately or unfortunately, is a crucible through which all new discoveries in science, and all technical applications of science must pass-a test which they must all endure before they can become so vitalized as to germinate, so to speak, take root in the human mind, grow tip, and overspread the earth. The greater the number and the power of the elements arrayed against such a growth, and of the influences hostile thereto, the greater should be the inherent vitality of the germ, the more strenuous, skilful, and persistent its cultivators and upholders. During the decade last past we have had, in spite of the severe stringency of the times, an active growth of this kind in progress, whose prospective importance it would now be difficult to overrate. This is the movement which has for its motive the idea that, generally speaking, fuel should be gaseous in form, and which has for its goal the introduction into general public use of gaseous products, made by cheap and rapid processes and on a gigantic scale, distributed throughout our cities and towns in distribution-systems which shall be proportionately gigantic, and sold at prices which will bring such fuel within the means of the poorest householders. Personally, for ten years past, the writer has never failed, on occasions public or private, to urge his belief that the realization of this idea, deemed by him a certainty of the future, will bring about

Jan 1, 1880

By W. W. Duecker

SULPHUR is a peculiar combination of a nuisance and a useful element. Most of the nonferrous metallic ores contain large amounts of it in the form of sulphides, which the metallurgist has wasted up the chimney, since the sulphur dioxide formed is generally too dilute to make recovery economical and practical. Iron ore does not contain much of the unwanted sulphur; in pig iron and coke it is most unwelcome. Gold metallurgists can get along nicely without sulphides in their cyanide plants and yet they find matte-a sulphur compound -an excellent collector for gold and silver in base-metal smelting. Also, sulphur appears in the non-metallics as in barite, gypsum, Glauber's salt, and celestite, all to useful purpose.

Jan 1, 1938

[RALPH ADAIR Ore Dressing Consultant Bull Mtn. Rd., Asheville, N. C. Phone 4-1693 JAMES A. BARR Consulting Engineer Mt. Pleasant, Tennessee Washington, D.C. BEHRE DOLBEAR & COMPANY Consulting Mining Engineers and Geologists 11 Broadway New York 4, N. Y. I. R. BERENT Engineering Consultants and Contractors Mineral Exploration, Mine Evaluation, Mine Designs, and Mine Management 156, Ataturk Bulvari-Ankara, Turkey BLANDFORD C. BURGESS Registered Professional Engineer Mining Consultant Monticello, Georgia GLENVILLE A. COLLINS Mining Engineer Uranium examinations Cable "Coins" 210 La Arcada Bldg. Santa Barbara, Calif.]

Jan 1, 1952

[RALPH ADAIR Ore Dressing Consultant Bull Mtn. Rd., Asheville, N. C. Phone 4-1693 JAMES A. BARR Consulting Engineer Mt. Pleasant, Tennessee Washington, D.C. BEHRE DOLBEAR & COMPANY Consulting Mining Engineers and Geologists 11 Broadway New York 4. N. Y. I. R. BERENT Engineering Consultants and Contractors Mineral Exploration, Mine Evaluation, Mine Designs and Mine Management 156, Ataturk Bulvarl-Ankara, Turkey BLANDFORD C. BURGESS Registered Professional Engineer Mining Consultant Monticello, Georgia GLENVILLE A. COLLINS Mining Engineer Uranium examinations Cable "Coins" 210 La Arcade Bids. Santa Barbara, Calif.]

Jan 1, 1952

[RALPH ADAIR Ore Dressing Consultant Bull Mtn. Rd., Asheville, N. C. Phone 4-1893 JAMES A. BARR Consulting Engineer Mt. Pleasant, Tennessee Washington, D.C. BEHRE DOLBEAR & COMPANY Consulting Mining Engineers and Geologists 11 Broadway New York 4, N. Y. I. R. BERENT Engineering Consultants and Contractors Mineral Exploration, Mine Evaluation, Mine Designs and Mine Management ` 188, Ataturk Bulvari-Ankara, Turkey BLANDFORD C. BURGESS Registered Professional Engineer Mining Consultant Monticello, Georgia GLENVILLE A. COLLINS Mining Engineer Uranium examinations Cable "Coins" 8 Haward-Canfleld Bldg. Santa Barbara, Calif.]

Jan 1, 1952

By Henry Newton

IT may seem somewhat a work of supererogation to present to the American Institute of Mining Engineers, composed largely of gentle- men with whom the subject is so familiar, a paper on iron ores and their distribution. To many of them, however, it possibly will not be without interest, as there may be some, like myself, who hare nowhere found a connected account of the character of the deposits and the circumstances upon which are founded the great iron-producing centres of the world. This blank I have endeavored to fill,

Jan 1, 1875