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By J. K. Brooke, R. M. Dreyer

For mining engineers and geologists accustomed evaluating metallic mineral deposits, the problems inherent in determining the worth of non- metallic industrial minerals deposits for the chemical processing industry often comes as a rude shock. These difficulties lead to different, and often much greater, problems in financing the development of such deposits than would normally be anticipated for economic sources of copper, molybdenum, iron, nickel and other metallic minerals. The chemical processing industry is one of the two principal consumers of non-metallic mineral production, the other being the construction industry. In the last decade, the volume of industrial minerals consumed by chemical processers has in- creased by 30%, and further increases are forecasted. To satisfy this growing demand, many new sources of these minerals must be found and developed. For those of us who will become involved in such work, the following brief analysis of the major problems to be expected may be of help in developing a realistic approach to evaluating and financing such a deposit and selling the product to consumers.

Jan 8, 1962

By Robert Glass Cleland

WITH the acquisition of the Nichols Copper Company ' and the development of the large Copper Products manufacturing and selling organization, the Phelps Dodge Corporation had attained two of its important goals. But at that particular time both its immediate and long-range prospects were giving the company serious concern. The financial panic that began late in 1929 was growing worse instead of better. Neither raw materials nor finished products could find a market. In 1932 the price of copper fell to the almost unprecedented figure of four and eight tenths cents a pound. Domestic production of copper in the United States was further threatened by a large low-cost output from the mines of Africa and the Andes. Canadian copper mines, with their large yield of other valuable metals from the same ores, added to the difficulties of the American companies. After a hard-fought campaign, however, the producers of domestic copper finally induced Congress to levy a duty of four cents a pound on copper imported into the

Jan 1, 1952

By Walter Mueller

Transition in the underground coal industry, begun with the passage of the Federal Coal Mine Health and Safety Act of 1969, should be completed midway in the 1972-80 period. Surprisingly, many of the far reaching effects of this act have been, for the most part, beneficial to the industry from the standpoint of health, safety and basic operating standards. Production has dwindled, but the next few years will see production declines level out. Average declines of approximately 27% have been recorded since passage of the 1969 act, with costs increasing an average of $1.50 per ton throughout the industry. Nationwide averages presently are in the range of 14 tons per man-shift, and by 1980 this may be further reduced to a 10-ton per man-shift average for the industry. But in spite of the many temporary set-backs affecting the industry, the marketing opportunities are clearly visible. Due primarily to the energy squeeze facing the U.S. over the near term, the 'underground coal operator is and will be enjoying unusual leverage in selling his product.

Jan 10, 1972

By C. A. Stetefeldt

FoR the convenience of those who do not care to enter into the details of this long essay, I begin with a summary of the most important results it presents. The extraction of silver by the lixiviation-process from ores which have been subjected to a chloridizing-roasting, is based upon the fact that silver chloride is easily soluble in solutions of sodium or calcium hyposulphite, and that silver is precipitated from such solutions by an alkaline sulphide, with regeneration of the hyposulphite salts. In case the ore contains lead a large portion of the latter is and dissolved, lead sulphate being soluble in hyposulphite solutions. If, at the same time, copper is present, the sulphides precipitated from the solution, contain silver, copper, and lead, a combination of metals not desirable for subsequent treatment. Mr. E. H. Russell, of Park City, Utah, is the inventor and the patentee in the United States and several foreign countries of a new lixiviation-process, based upon the chemical facts discussed in this paper. Mr. Russell has discovered that lead can be completely separated from a sodium hyposulphite solution, as lead carbonate, by sodium carbonate or purified soda-ash, without precipitating any copper or silver. After decanting the solution from the lead carbonate, silver and copper are obtained from it in the usual way. This method of separating lead prohibits the use of calcium poly-sulphide as a precipitant for the sulphides, because any calcium entering the regenerated lixiviationsolution would also be precipitated as a carbonate with the lead by soda-ash. Hence, a sodium sulphide must be employed. A full investigation has demonstrated that this is by no means detrimental. Sodium sulphide and hyposulphite are more advantageously used in the lixiviation-process than the corresponding calcium-salts. Another defect in the lixiviation-process consisted in the necessity of a very perfect chlorination of the silver in the ore, because silver in

Jan 1, 1885

By Maurice E. Peloubet

This discussion of accounting will describe the statements and the information that the accounting system produces, from the point of view of those who use such systems rather than of those who prepare them and who do the detail and technical accounting work. In any well organized mine, quarry, or other enterprise exploiting a mineral deposit, no matter how small, some clerical and accounting work must be done. Miners and other employes must be paid, supplies must be purchased and issued, and various tax and information returns, which even the smallest enterprise must file, have to be prepared. In this chapter it is assumed that the enterprise has employes of this type and that they understand the fundamentals of record keeping and accounting. It would be impossible here to give sufficiently full explanations to enable a man with no previous clerical and accounting training to set up and operate an accounting and cost system for even the simplest extractive operation. Rather, we shall hope first, to tell the investor and the operator, from the chief engineer or president down to a subforeman, what to expect from the accounting statements and records and how to use this information in his daily work; and second, that it will enable the man with some knowledge of accounting or book- keeping, but with little or no experience in any extractive industry, to set up and operate a satisfactory system for a mine or other extractive enterprise. For readers who wish to go further, the bibliography at the end of this chapter contains many references. T he emphasis has, therefore, been placed on the statements to be produced and the purposes for which they are to be used rather than the underlying books and records. These are, with a few exceptions which will be described later, essentially what might be found in any industrial enterprise and would probably, in the extremely small enterprise, consist of handwritten journals, ledgers, analysis books, payroll books, and stores ledgers. In the larger enterprise, various types of mechanical accounting would be introduced in proportion to the complexity of the operation.

Jan 1, 1964

Meeting of June 26, 1914.-The President was authorized to appoint Advisory Committees to co operate with the United States Bureau of Mines. The President announced the appointment of Edward H. Benjamin and W. C. Ralston as additional members of the Committee on Arrangements for the San Francisco meeting, 1915. H. T. Van Ells and Judd Stewart were appointed to represent the Institute on a joint committee of several technical societies to consider the standardization of graphical methods for the presentation of statistics. The President announced the appointment of H. Foster Bain to succeed Edward H. Benjamin, resigned, on the Committee of Management of the International Engineering Congress, 1915. The Secretary was authorized to issue a new circular advertising the sale of back Transactions and to sell back Transactions, bound in cloth, at a price of $35 for 46 volumes, provided sufficient orders were received to warrant the special binding. The sum of $177.50 was contributed to the San Francisco Local Section. Upon recommendation of the Committee on Membership, 70 Members, 4 Associate Members and 7 Junior Members were elected to their respective classes; there was also one change of status from Junior Member to Member.

Jan 8, 1914

Illustrated guidebooks treating in a popular descriptive way of the geology and other features of the Western United States have been issued by the U. S. Geological Survey. They will be of much interest to mem¬bers in connection with the Arizona Meeting of the Institute and espe¬cially the guidebook of the Santa Fe Route, with side trips to the Grand Canyon, containing as it does relief maps, topographical and geological maps, covering the entire route of the railroad, illustrations from photo¬graphs and other interesting descriptions of this great country. The method of treatment is adapted to the lay-reader, although it includes much valuable and interesting technical information concerning the geographical and other features. The books are well indexed. These volumes sell for 50 c. each and may be obtained from the Superintendent of Documents, Washington, D. C. These guidebooks originally sold for $1 each, but the reprint edition has been reduced to 50 c. A list of the different guidebooks follows: Bulletin 611. Guidebook of the Western United States, Part A, The Northern Pacific Route, with a Side Trip to Yellowstone Park, by M. R. Campbell, and others. 1915. 212 pages, 27 route maps, 27 plates, 39 text figures.

Jan 6, 1916

Thus far virtually the sole theme of the conservationist has been the preservation of natural resources. Little thought has been devoted to the conservation of America's most significant asset-her people. True, considerable effort has been devoted to conserving man's physical strength by the invention and application of labor-saving machinery. Notable progress has been made also in the conservation of man's health through important discoveries in medicine. However, little if any positive success has been achieved in the conservation of the most valuable attributes of man-intellect, skills, manpower. Human resources are interrelated and interdependent. There is no monopoly on knowledge or skills' or human energy. No one must sell them short. All the knowledge and all the skills and all the energy possessed by all men are required to render all the services needed by all men. One of the major sources of wasted manpower is found in the nation's schools, with an educational system based on the outmoded theory of uniform education for all. Actually, if democracy means free initiative for the individual, and unlimited progress at the maximum rate of speed of which the individual is capable, then our public schools are not democratic in-

Jan 1, 1950

No. 264. A long established company operating steel and iron foundries, machine and forge shops, whose varied products are sold to the Government, railroads, mining and contracting industries, etc., has, openings in both manufacturing and selling departments for men with technical education and experience who are not subject to military call. State full particulars, kind of position preferred and salary expected. No. 265. Young man wanted, technical graduate preferred, to superintend construction f a small charcoal blast furnace. Man with blast-furnace experience preferred. For the right kind of man this is, not only a permanent job but an opportunity. In writing, give full particulars as to age, education, experience, salary wanted, etc. No. 26.6. An important copper mining and smelting company in Arizona needs two or three metallurgical chemists, at salaries. ranging front $150 to $175 per month. No. 267. A consulting mining engineer needs two superintendents for developing chrome deposits near Philadelphia; and another technical man for other engineering work in the same vicinity. No. 268. An iron-mining company, in New York State needs a mining engineer with knowledge of geology and acquaintance with construction work; A married man, with about 10 years' engineering experience preferred.

Jan 2, 1918

After months of negotiations, the U. S. has agreed to buy between 6000 and 7000 long tons of Bolivian tin now stockpiled at Peruvian and Chilean ports, at $1.175 per lb, f.o.b. South American Ports. Harry A. McDonald of the Reconstruction Finance Corp. signed the contract with Victor Andrade, Bolivian ambassador. The Mercantile Metals and Ore Corp., of New York City, acted as the agent of Bolivia's Banco Minero in negotiating the deal. The contract is a short term one. Throughout the talks, the U. S. refused to make a long term agreement because of the possibility that Bolivia will soon nationalize its mines. The Bolivians desired to sell the U. S. 18,000 tons during a one-year pact. The price agreed upon is roughly the same as with Malayan producers. In the meantime, American Smelting & Refining Co., signed over control of its operations to the Bolivian Government. The formal act of leasing the mines to the Bolivian Government follows the announcement last July by the company that it was closing operations because of high costs. Contract terms were not disclosed.

Jan 1, 1952

By Robert Glass Cleland

IN SPITE of its widely ramified interests in manufacturing, mines, lumber, railroads, and real estate, Phelps, Dodge & Co. remained primarily interested in exporting and importing, in buying and selling, and William E. Dodge, the directing-partner, consistently styled himself a merchant. After 1849 the profits of the company mounted steadily for seven years until they approached the half-million mark, but in 1857 another severe panic ended the long period of national prosperity that had begun some fifteen years before. Extravagance, indebtedness, and inflation again took their costly toll; or, as the New York Herald of June 27,1857, declared: Governmental spoliations, public defaulters, paper bubbles of all descriptions, a general scramble for western lands and town and city sites, millions of dollars, made or borrowed, expended in fine houses and gaudy furniture; hundreds of thousands in the silly rivalries of fashionable parvenues, in silks, laces, diamonds and every variety of costly frippery are.only a few among the many crying evils of the day. The worst of all these evils is the moral pestilence of luxurious exemption from honest labor, which is infecting all classes of society. The country merchant is becoming a city stock-

Jan 1, 1952

By Thomas L. Wright

Exploration activities were maintained at a high level throughout 1966. Numerous significant discoveries and developments in which geologists played an important part were announced. Although the complete results of exploration activities carried out during the year by private companies have not been announced, the following are among the more important developments that have been made public knowledge. In the western states, exploration for practically all of the metals continued at a high rate. Substantially increased interest in uranium occurred this year, and it is felt by many that a real boom in the demand for uranium may come about in the near future. The reasons have been the more rapid acceptance of atomic power than had been anticipated, and that uranium producers can now sell their product to private interests and even foreign countries. A tremendous demand for uranium is anticipated by many, and this has rekindled exploration activity. On the Colorado Plateau, in Wyoming, and in the area around Grants, N. M., a number of companies have undertaken uranium exploration programs, among which are Kerr-McGee, Homestake, Anaconda and Utah Construction. A new uranium orebody in Texas was brought into production early in 1966 by Susquehanna Western.

Jan 2, 1967

By A. P. Watts

FOREWORD THE problem of concentrating the disseminated lead ore of southeast Missouri is extremely simple. The economic mineral is galena and the gangue is dolomite. The ore assays from 4 to .6 per cent. lead, 80 per cent. of which is recovered in a 70 per cent. concentrate.. The ore is crushed through 10 mm. and sized on 2 mm.; the oversize is jigged, while the undersize is tabled, and the slime treated by flotation. The district is the largest lead producer in the world, the output of metallic lead for the year 1915 being 183,906 tons. Over 20,000 tons of ore a day is being treated. The management of the different properties is progressive and always open to suggestion. The fact; however, must not be lost sight of, that the problem in the district is peculiar, as the average ore contains but 80 to 120 lb. of a metal normally selling at about 4c. per lb. The low price of the metal limits the treatment system to one of low cost. An elaborate treatment is neither logical nor advisable. An engineer first visiting the district may consider that the method of treatment could be improved

Jan 10, 1917

• Phelps-Dodge Corp. signed an agreement with the Defense Materials Procurement Agency to increase copper production from the east ore deposit of the company's Copper Queen branch at Bisbee, Ariz. The company agreed to undertake a $25 million expansion program, including construction of a concentrating and leaching plant at the Bisbee mine and enlargement of the Douglas smelter. The Government agreed to buy the first 112,500 tons of the first 150,000 tons produced at 22e per lb if the company could not sell at a higher price. The new facilities will have a yearly capacity of 38,000 tons and should be in production by late 1954 or early 1955. • American Smelting & Refining Co. has started construction of a new building to house the Central Research laboratory at South Plainfield, N. J. It will have approximately 75 individual laboratories and an equal number of offices and shops. Modern apparatus to be installed will include electron microscopes, electric and fuelfired furnaces, miniature copper refineries and zinc plants, wire drawing machinery, and large pilot plant laboratory. In the new building scientists study the base metals, and the development of new uses for a number of Asarco by-products, arsenic, and little

Jan 11, 1951

By Emory J. Douglass

Mining companies are unique in that they extract mineral resources and must therefore deal with ecological disturbances and other special problems. Like most enterprises, however, their primary motive must be to make money. The problem of mining investment starts with the question of what "make money" means. This article proposes an answer consistent with what economists call the theory of the firm and then applies it to two of the common, and perhaps unrecognized, problems connected with min¬ing investment. In essence, the concepts presented here call for thinking to terms of the income change associated with a given change it outlays or operating procedures To illustrate. ABC Distributing Co. has just discovered the power of advertising. It has raised its annual advertising budget from $25,000 to $50,000, and sales have, zoomed from 250.000 to 350,000 units. The company buy, for 50e per unit and sells at $l. This move has produced $50,000 of operating income for $25.000 in additional advertising expense. This looks great, so the next year the advertising budget goes up to $100,000. Sales go to 440,000 units. With 90,000 more units at 50[c] per unit, ABC sales are up by $45.000. Its advertising costs, however, went up $50,000.

Jan 1, 1971

By Thomas E. Howard

Recently, the mining community has begun to move toward a more prominent place in the structure of American society. Extensive press coverage of our energy problems during the past year or two has led to an increasing awareness on the part of the public of the vital role that mining must play if today's standard of living is to be maintained. It appears that mining may be emerging from a status generally characterized in the public mind as an esoteric, dirty, man-killing, land- scape-despoiling endeavor, to a new stature that may eventually become as respectable as agriculture. To be sure, we are still being criticized, as has been the lot of miners since the time of Agricola. In fact, the clamor has never been louder. Nevertheless, the public, in increasing numbers, is beginning to know it needs us. But we cannot be complacent. Our improving stature brings along with it increasing responsibility. The mineral industry will be expected to produce mineral raw materials and fuels in ever larger amounts and sell them at reasonable prices, in the face of rising labor costs, decreasing labor availability, chacging labor attitudes, increasingly stringent environmental regulation, stricter health and safety standards, and a deteriorating geo-political climate.

Jan 6, 1975

The Secretary of the Treasury, acting through the National War Savings Committee, soliciting the support of patriotic associations in America in the sale of War Savings Stamps, has addressed the following letter to the President of the Institute: It is particularly desirable to have you urge the members of your association to give their assistance wholeheartedly, and to this end we urgently request that you write a letter to each of your members, outlining the aims of this campaign. That you may more easily draft your letter, we mention a few things in which your members could render a special service. Agencies and Sales Stations.-We desire immediately to establish several hundred thousand agencies and sales stations. It is as easy to sell a War Savings Stamp as it is in ordinary postage stamp, and we have launched a great drive to establish sales stations everywhere. The plan is simplicity itself! Your town, city, county or State Director can furnish you with supplies, posters and publicity matter. You can get the stamps from your post office or bank. Such stations should be at every pay window of manufacturing, industrial and mercantile establishments, and at every retail counter in the country. These stamps should be the easiest bought merchandise in the world, and when these agencies are established this end will have been accom-plished. Therefore, please lay extra pressure on the thought of immediately establishing these sales stations.

Jan 3, 1918

Geologist or Mining Engineer who has had sufficient experience to make examination of a large area and who can report upon economic value of any minerals found. Work will extend over a period of 2 or more years. Location, India. R-1660. Assistant Superintendent of malleable and gray iron foundry, young man. Must have thorough molding experience, especially on squeezers, knowledge of mixture control and operation of air furnaces, cupolas, and annealing ovens college graduate preferred. R-1727. Engineer thoroughly familiar with distilling, evaporating and drying machinery. Capable of taking charge of entire evaporator department, including engineering and selling. New Jersey. R-155C. Experimental Draftsman familiar with small automatic mechanisms, principally those produced in large quantities by punch-press methods, such as adding machines or typewriters. New York City. R-1566. Patent Draftsman.-At least 2 years' experience on perspective rend-ering of small automatic machinery. New York City. R-1570. Designer.-Familiar with hydraulic work and capable of going ahead with detail and design work without supervision. Pennsylvania. R-1575. Superintendent or Foreman. Knowledge of ceramics, clay products, electric porcelain, tile, factory materials, etc. New York State. Good salary to right man. R-1578. Designer. Experienced in designing mining machinery, including electric hoists. Canada (Quebec). R-1589. Construction and Operating Superintendent. Executive and thor-oughly experienced in the zinc melting industry. Will have charge of construction of plant and its operation. Salary $6000 to start; increase to $8000 later. India. R-1593.

Jan 11, 1919

By Orr Hamilton

VALUATION of a mine is an approximation of its true cash value which requires the application of fundamental principles of economics. Mines are valued from necessity, for the following reasons: (a) Transfers of titles. (b) Dissolutions of partnerships or corporations. (c) Mergers of mining companies. (d) Appraisals for the purpose of State and Federal taxation. (e) Establishment of the fact of worth as a basis of loans. (f) Determination of values as frequently required in litigation. (g) Listing of stock for sale by a reputable stock exchange. For the majority of purposes a valuation is required as at the present time, but for some purposes valuations as of bygone times may more nearly reflect the intrinsic worth of a mine because its subsequent history can never be, entirely ignored, but valuations made as at the present time are better indicators of cash values. Many mines with great intrinsic worth have been sold for small cash prices. The object of legitimate mine valuations is to deter-mine salable value, or that price in cash at which a transfer of the property from a willing seller to a willing buyer might be consummated, assuming that both vendor and vendee have knowledge of all pertinent data and that the owner, is not forced to sell at a sacri-fice-the definitions of fair market value precluding a forced sale.

Jan 11, 1923

By A. Azis

The problem of expressing a nation's mineral resources in terms that convey a sense of economic reality poses a great challenge to those charged with keeping government policymakers informed. A model is presented that can be used to simulate and examine the effects of, for instance, differences in levels of output, transportation costs, mining costs or selling prices on the exploitability and expected order of development of new mineral deposits. The model in its present form can be used to screen, as a first cut, the economic from uneconomic deposits in cases where little or nothing is known about them in detail. To date, this has generally been done - reluctantly - by subjective judgments. This model provides an improvement on the "informed opinion" approach, as it forces those who use the model to be both systematic and explicit in their assumptions. Moreover, the procedure is repeat- able and each step can be defended and justified. Implications can be examined of the uncertainty associated with many of the variables. The model is entirely too general to be of use for actual feasibility studies. It is not useful, in the case of speculative or little-known deposits, to provide a model that has an input format more detailed than the information that is likely to be available. Should the user see a need for it, the model can easily be expanded to allow for the input of more detail or more variables.

Jan 1, 1977