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By Craig E. Saporito

INTRODUCTION Freeport-McMoRan Inc. has been very active recently with two major discoveries and its restructuring activities. This paper describes Freeport-McMoRan's businesses, the two major mineral discoveries, and exciting opportunities within the oil and gas operations. BUSINESS ACTIVITIES Freeport-McMoRan is the largest and one of the lowest cost fully integrated U.S. phosphate fertilizer producers. It is the second largest domestic Frasch sulphur producer. Freeport- McMoRan will become the largest domestic producer of Frasch sulphur when its Main Pass Block 299 sulphur deposit reaches full production in 1993. Furthermore, it is the largest transporter of sulphur produced by others. Its oil and gas activities rank among the largest U.S. independents in terms of production and proved reserves. The copper/gold operations in Indonesia are among the world's lowest cost. When expansion operations reach full capacity levels in 1992, the Indonesian copper/gold complex will be the fifth largest copper operation in the world. Operations are divided into three business segments that include: 1. Agricultural minerals, incorporating sulphur, phosphate rock and phosphate fertilizer activities; 2. Energy, including oil and gas activities; and 3. Metals, incorporating copper, gold and silver operations in Indonesia. In early 1989, Freeport-McMoRan announced the discovery of two world-class ore bodies; a sulphur deposit off the coast of Louisiana on Main Pass Block 299, and a copper/gold deposit -- the Grasberg in Indonesia -- approximately two miles away from the existing Ertsberg East operations. As a result of these major discoveries, Freeport- McMoRan decided to carry out a restructuring program. Its purpose was to sell $1.2 to $1.5 billion of non-strategic assets. Debt levels and associated interest expenses will be significantly reduced, and general and administrative expenses will be reduced, which will place Freeport- McMoRan in an excellent position to fund the development of the Main Pass Block 299 sulphur discovery, the Grasberg discovery, and oil and gas discoveries. This restructuring program also will allow Freeport-McMoRan to achieve the greatest future value for shareholders by focusing on its principal businesses (Figure 1). Strategic Restructuring • Sell $1.2 - $1.5 Billion Of Non-Strategic Assets • Significantly Reduce Debt • Significantly Reduce G&A • Fund Development Of Main Pass & Grasberg • Stronger Company; Positioned For Future Growth • Focus Is On Principal Businesses: - Sulphur/Phosphate Fertilizers - Indonesian Copper/Gold - Oil And Natural Gas Figure 1 - Strategic Restructuring AGRICULTURAL MINERALS Main Pass Block 299 Discovery The Main Pass Block 299 discovery has a proven reserve of 67 million long tons of recoverable sulphur. This is the largest known Frasch sulphur deposit in North America. The discovery increased Freeport-McMoRan's sulphur reserves more than five-fold, and is synergistic with the company's phosphate fertilizer assets. The

Jan 1, 1990

By George Packard

THE shaft of the Raven. mine, at Butte, Mont., is an incline 1,700 ft. in length and dipping at various angles. At the top the dip is 70° from the horizontal, but this is gradually flattened until at the 300-ft. level the inclination is only 47°. This angle continues to the 1,100-ft. level, below which it, curves with a 125-ft. radius to 78°. In addition to these variations in dip, the shaft does not lie in the same vertical plane, with the result that the hoisting rope not only rubs at intervals on both the hanging- and foot-walls, but presses strongly against the west, dividers near the collar, while 300 ft. below it runs close to the east end plates. The early operators used no idlers, and wall plates cut 6 in. deep y the rope resulted. Later operators first attempted to overcome the excessive friction, and the wear of rope and wall plates, by introducing solid cast-iron idlers, 3 in. in diameter. To allow for the travel of the rope from side to side some of these had to be 3 ft. long and were very heavy. Judging from the appearance of the old idlers of this type found at the mine, they often failed to turn in the bearings, which is not surprising when it is considered that they would have to make 1,000 rev.. a minute under ordinary hoisting conditions. The next rolls were made of wood, 6 in. in diameter, with an iron band about each end, and a pintle of 1-in. round steel driven in at the ends to serve as a shaft. These wore rapidly, and were soon replaced by rolls made from water pipe, 5 or 6 in. in diameter, cut to the desired length and fitted with a wooden cylinder into which the pintle was driven. Where the idlers were used on the hanging-wall of the shaft the original bearing was simply a piece of 2 by 1-1 in. strap iron, 10 in. long, turned up at the end in a circle of 18 in. in diameter to receive the shaft. A small hole served for oiling, and common black oil was generally used, although filtered oil from engine bearings and compressor bearings was also used. When the rolls were to be placed on the foot-wall the bearings were made from two pieces of 1 by 3 in. steel, 6 in. long. A half circle was cut on the flat side of each piece and the two half circles together formed a bearing. Oil holes were provided, and in some cases holes were bored through the two pieces so that they could be screwed or spiked to the wall plates.

Jan 8, 1914

By AIME AIME

FEATURES of the second fall meeting of the Petroleum Division for 1941, held at the Ambassador Hotel, Los Angeles, Oct. 29-30, were the forum on the Paloma Plan on Thursday after- noon, the large attendance from east of the Rockies, and the dinner on Wednesday evening sponsored by the Southern California Section and at which President Suman spoke on the strategic minerals and metals situation. The attendance was large and the technical fare uniformly good ; the presiding officers had the proceedings well in hand at all times and kept things humming. Some- times it was necessary to taper off the discussion because of pressure on time. All this was due to careful groundwork before the respective sessions. These presiding officers deserve citation: L. W. Huebel, Howard Pyle, E. K. Parks, Carlton Beal, E. G. Trostel. R. W. French, Jr., John Dodge, and H. N. Marsh. The Los Angeles local commit- tees and the Southern California Section deserve much credit for the arrangements, which were recognized by suitable resolutions at the end of the meeting.

Jan 1, 1941

By AIME AIME

T HE appointment of Herbert Hoover to the portfolio of Commerce in the President's Cabinet is to engineers the fulfillment of a long deferred hope to have an engineer in high political office and is a matter of congratulation to us for three reasons; because he is a mining engineer who represents the highest type of idealistic engineering effort; because he is a past president of the Institute; and because he has probably a broader grasp of world problems than any other living engineer. Frank A. Vanderlip in the preface to his book "What Happened to Europe" tells of the many interviews he had with the most prominent men in Europe which were made possible for him by his eminence as a banker and by the courtesy of the American ambassadors. He cites by name such well known figures as Austin Chamberlain, Sir Auckland Geddes, Monsieur Delacroix, Monsieur Briand, Mr. Padkrewski, Mr. Venizelos, Colonel House, General Pershing, Mr. Baruch, and many others and says :

Jan 1, 1921

What has happened to the basic coal industry during the past year? Has it been a better year for coal than 1961? What striking new developments have occurred in mining, preparation and utilization? Are there positive signs that production will go up? What has happened in the utility market, the metallurgical market and the export market? Is the controversial question of coal transportation nearer to a solution? What progress has research made for coal during the year? The answer to these and many other important questions are offered in the following review of the Coal Industry-1962.

Jan 2, 1963

By Mitchell, Edmund I.

VARIOUS suggestions as to proper fees for engineering services have been put forth by individual practitioners and by the American Institute of Consulting Engineers, the Connecticut Society of Civil Engineers, the Iowa Engineering Society and the Mahoning Valley (Ohio) Engineers, for the guidance of both the engineer and his client. The American Institute of Architects also has a schedule of minimum charges (revised 1908). So far as can be determined, however, the four national societies representing civil, mining, mechanical and electrical engineering have never given consideration to this question. An examination of technical periodicals published during the past decade shows that these schedules make provision for three methods of charging; i.e., (A) a percentage of the cost of the completed project; (B) a per diem rate; and (C) a fixed sum. Suggested minimum charges are as follows:

Jan 1, 1921

By HAROLD VINTON COES

MANAGEMENT has been tersely defined as getting things done through the efforts of other people; but before we proceed further, let us distinguish between administration, management, and organization. Oliver Sheldon in his book, "The Philosophy of Management," offers the following definitions: Administration is the function in industry concerned in the determination of the corporate policy, the co-ordination of finance, production, and distribution, the settlement of the compass of the organization, and the ultimate control of the executive.

Jan 1, 1943

By DAVID F. McFARLAND

THE making of courses of study and curricula has long held first place as the favorite pastime of educators. As a game, this activity is as fascinating to some as golf or bridge, 'and the golfer's hope of a low score is matched by the teacher's ambition to some day evolve a sequence of studies that shall prove the ideal preparation for a life of maximum service and, profit. There are few in, this gathering who have not tried their skill at this game and still fewer are those who have been long satisfied by the product of their efforts. A curriculum is hardly printed in the college catalog before conditions arise which seem to make changes desirable, and strong will power is needed to maintain the program long enough to give it a fair trial. Metallurgical curricula are not less subject to change than others, 'and; indeed they have seemed, at times, to change more rapidly than other curricula because of the changing 'needs of the industries and the demand that the graduate be trained to meet the new conditions. Metallurgical practice is constantly proving that "time makes ancient good uncouth," and the graduate metallurgist is required to adapt himself to newer and

Jan 1, 1930

By C. Willard Hayes

The determination of the question whether the Mayari and Moa mining-claims of the Spanish-American Iron Co. have been rightly denounced under the third section of the law of bases rests on the findings in the following questions of fact: 1. Is the mineral an iron-ore ? 2. Is the iron-ore a bog iron-ore ? 3. Is the iron-ore ocher ? 4. If ocher is present, can it be mined separately and independently of the iron-ore ? 1. Is the Mineral an Iron-Orb? Since the material is shown by a large number of analyses to contain from 41 to 50 per cent. of metallic iron and less than

Jan 1, 1912

By M. H. Mueller, P. A. Beck, W. P. Chernock

HARRIS introduced the term inverse pole figure for the diagrams previously used by Barrett' to represent the volume fraction p(a,ß) of material in various orientations with respect to the fiber axis in a specimen with fiber texture. The direction of the fiber axis with respect to the crystal lattice is specified by the two independent angle variables a and ß. In such a diagram p gives the fiber axis density distribution over the various crystallographic directions. The p(a,ß) may be given in a two-dimensional diagram by means of contour lines (p=con-stant) in a stereographic projection. The inverse pole figure incorporates in a single contour line diagram all the information given conventionally in pole charts for various (hkl) reflections and, therefore, it represents a considerable degree of condensation. Also, it gives this information directly in terms of the volume fraction of the specimen in various orientations, and it obviates the necessity of referring back and forth between the various pole charts in an attempt to interpret them in terms of orientations. Inverse pole figures undoubtedly represent the most adequate method for describing a texture in a quantitative manner and, at least in the case of fiber textures, this method is certainly a practicable one. Harris described1 a simple procedure for determining at least the rough outlines of a quantitative inverse pole figure. This method depends on the measurement of the intensity of X-ray reflections from various (hkl) planes lying parallel to the same specimen surface. In the case of a rod, reflections from a plane specimen surface perpendicular to the rod axis (fiber texture axis) are to be used. Harris has shown that the measured intensities I,,, reflected by crystal planes (hkl), aligned perpendicularly to the fiber axis of a specimen with unknown fiber texture, and the corresponding intensity Iu nkl from a random specimen are related to the p(a,ß) value for the unknown texture by the following equation IAkl/I°Aklw=c/c°.p(a, ß) [1] where C and C° re parameters depending on the crystal imperfections (extinction), surface preparation (e.g., thickness of oxide layer), the absorption coefficient in the specimen, effective line breadth, and instrumental factors. The values of the variables a and ß1 defining the crystal orientation, depend only on the indices hkl of the reflecting plane perpendicular to the fiber axis. Since p, as described by Harris1, is normalized in such a way that upon integration over the total orientation range its mean value is 1, the parameter C/C may be calculated approximately by the summation of Eq. l over all available X-ray reflections hkl, corresponding to a set of discrete orientations (rather than by integration over the complete range of orientations represented by the continuous variables a and ß). From the summation of Eq. 1 1/n SI AKL/I° Akl = C/C. SP(a,ß)/n is obtained where, as stated above 2p(a,ß) =1. n Therefore

Jan 1, 1959

By AIME AIME

THE week, of April 5 will long be remembered by those that attended the Birmingham meetings of the Open-Hearth and Blast Furnace committees of the A.I.M.E. Iron and Steel Division. Birmingham iron and steel own received the 450 delegates with open arms; described and discussed their southern metallurgical practices and problems and compared experiences with their northern brother metallurgists in two days of technical sessions on Wednes-

Jan 1, 1937

By C. M. Marquardt

Tramp iron and steel moving on a conveyor belt cause small currents to be generated in a coil situated in a strong magnetic field, which are converted to an alternating current and are amplified. The output voltage from the amplifier fires a thyratron with a relay in its anode circuit, which actuates a howler and simultaneously drops a spot of marker material on the belt.

Jan 1, 1950

By Boris J. Kochanowsky, Burke O. Trafton

Because of the strict requirements on the quality of limestone that are dictated by the users, the operator was compelled to find new approaches to produce a product of uniform and acceptable quality. The raw material is controlled and monitored every two minutes by a special computer in order to ensure its quality. The required minimum and maximum quality constraint had an adverse effect on performance and consequently cost. In order to improve this performance, a Monte Carlo simulation model was developed and tested for the optimal truck allocation. The input data is based upon the distribution of equipment performances and costs.

Jan 1, 1969

By G. E. Johnson

LEAD SMELTERS AND REFINERS in 1932 were confronted with the problem of adjusting operations and costs to curtailed production and consumption at reduced prices, a problem which has been partially solved at least by improvements in operating technique and increased efficiency. At the Mount Isa properties in Australia, a third blast furnace and additional Dwight-Lloyd sintering machines were installed during the year, designed to increase the production to 6,000 tons of bullion per month. The large proportion of lead carbonate in the ores to be treated has presented metallurgical problems. Of the total lead contained in the concentrates to be smelted, two-thirds is Dresent as carbonates and one-third as sulfides. In the iiitial operations, the resulting Dwight-Lloyd sinter was soft, contained an excessive amount of fines, and was easily fusible. When charged to the blast furnaces it developed accretions in the upper part of the furnace owing to the easily fusible lead carbonates softening and fusing at the top of the charge column. This was remedied by the addition to the sinter feed of diluents of higher melting point, granulated slag and crushed limestone. The sinter feed consists of concentrates, Cottrell dust and wind-box cleanings, totalling 57 per cent of the charge; return sinter fines 15 per cent; granulated slag 23 per cent; and crushed limestone 5 per cent. The sinter produced contains 34 per cent lead and 0.5 per cent sulfur. Experiments indicated that double sintering under these conditions was of no advantage, so the original plan of single sinter treatment was retained.

Jan 1, 1933

By Thomas A. Steven

Most mineralized areas in the central San Juan Mountains, Colorado, are associated with the youngest subsidence structures in a large volcanic cauldron complex that formed concurrently with eruption of the surrounding ash-flow field. Two local types have been recognized: (1) fissure-vein deposits along faults characterized by relatively late movement, and (2) hydrothermally altered and mineralized areas associated with postsubsidence Fisher Quartz Latite centers. The first type has provided most production in the past; the potential of the second type has yet to be adequately tested.

Jan 1, 1968

By W. T. Isbell

Although the pressure to meet the heavy demand for lead still took precedence over new metallurgical developments in the field of roasting, smelting, and refining of lead in 1948 there nevertheless has been considerable activity in the experimental development of new processes and improvements as well as plans for the modernization of many plants both here and abroad. Increasing labor and material costs have stimulated the trend to greater mechanization, revamping of flow sheets, and construction of larger units wherever possible. Although there have been many serious labor stoppages in the United States, Mexico, and Europe, labor supply has improved in most plants even if it has fallen off in efficiency.

Jan 1, 1949

By John T. Wizzard, R. P. Killmeyer, B. S. Gottfried

The Coal Preparation Branch of the Pittsburgh Energy Technology Center has developed a computer program to calculate the performance characteristics of coal washing devices. This program uses specific gravity analyses of the clean coal and refuse streams as input, and generates dependent and independent performance criteria for the washer. Partition curves are internally represented in a functional form by a Weibull function. Performance criteria generated by this computer program are compared to manually calculated performance criteria for air tables, Dynawhirlpools, Baum jigs, hydrocyclones, and dense medium cyclones. The comparisons show that the computer program gives results in close agreement with the hand- calculated values while greatly reducing the amount of time involved in performing the analyses.

Jan 1, 1983

By Hans Lundberg, Basil T. Wilson, H. Steuart Scott

FOR the benefit of those readers who may not be in close touch with present practices in the geophysical prospecting for ore, brief reference will fiat be made to the advantages and shortcomings of the methods to be discussed. Magnetic and electric methods are generally accepted as the most useful for ore prospecting. By magnetic methods, magnetic intensities that are not normal may be recorded and outlined. From these can he located concentrations of such highly magnetic minerals as magnetite or pyrrhotite, which sometimes occur in such large masses that they are of economic value in themselves. More often. however, these magnetic min¬erals are associated with others, such as copper, zinc, lead, gold, and silver, which, if existing in sufficient concentration and quantity, may constitute valuable ore bodies. It is therefore only when pyrrhotite and magnetite are present in these bodies that the magnetic method can be used to indicate their presence.

Jan 1, 1945

By T. W. Atkins

ATHOUGH the magnesium industry in this country is about thirty years old, not until American industry began to amaze the rest of the world and confound our enemies with the extent and variety of our war production did the industry begin to come into its own. At the outset of the war, only three companies were producing and fabricating magnesium in this country. Today, about sixty companies are producing, casting, forging, extruding, rolling, and stamping this lightweight champion of metals. Experience in alloying, processing. and fabricating the metal gained during the war years is now being translated into hundreds of civilian peacetime applications. In no sense should magnesium be considered as a substitute for other metals. It has come into popular favor because If many unique properties in addition to is being the lightest known structural metal. These attributes are toughness, igidity, corrosion-resistance, and the ease with which it can be machined and worked. Magnesium is the third most abundant element in nature. Sea water, magnesite,

Jan 1, 1946

By W. E. C. Coxe

Many of you who are interested in the manufacture of iron and steel, have no doubt heard of the "Wheeler process for combining iron and steel." Mr. Wheeler has formed a company, styled the "Combination Trust Company," whose business is to grant licenses for the use of this patent process in producing what he calls "iron-clad steel." It has been proposed to apply it in the manufacture of car or wagon axles, also to shafting, having steel cores or centres covered with iron; to tubes of steel with an inner and outer skin of iron ; to structural purposes, such as girders and beams; bridge and tie-bolts, where the strength of the iron and the rigidity of the steel would be desirable. In answer to a request from Mr. Wheeler, permission mas accorded him to make some experiments at the rolling mill of the Philadelphia and Reading Coal and Iron Company, at Reading, Pennsylvania, with a view to manufacturing some steel-headed rails. In making this kind of a rail two difficulties are encountered. If the iron is brought to the requisite heat to weld properly, the steel is likely to be burned; if the steel is cared for, to prevent burning, the several layers of iron are not brought up to the proper welding heat. Mr. Wheeler claimed that the steel slab covered with iron which he furnished for the head of the rail could net be injured by any heat to which it might be subjected in the ordinary course of heating the rail-pile. He claimed, also, that by this method the porosity, which he thought was characteristic of all solid rails of Bessemer steel, would be overcome. Four steel slabs were furnished for this experiment, being Bessemer steel of .61 carbon, made at the Edgar Thomson Steel Works, and covered with iron in one of the Pittsburgh mills. The slabs were in section seven inches wide by three inches thick, and the iron covering was one-eighth to three-sixteenths inch thick. Each slab was placed on a pile of iron made up in the ordinary way for a rail fifty-six pounds per yard and thirty feet long. The heating was under the personal direction of Mr. Wheeler, and

Jan 1, 1879