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By McDowell Graves, Joseph Jensen, W. D. Goold, M. L. Gwin

During the present year the Santa Fe Springs field has proved to be the most important oil field under development in the United States. Its production will exceed that of any other field. Without it, production within the United States would have been almost in even balance with consumption. The field has forced to the fore and compelled, more than any other single factor, serious consideration of the need of conserving the gas resources of the State of California. It has also contributed much to the development of new drilling equipment and important features in petroleum engineering, and has required the development of a new cement for use in deep wells because of high temperatures. It is the only oil field in the country where wells 8000 ft. deep have become so common that they are no longer given special attention. The field covers a little less than 1400 acres of land. In it 196 producing deep-zone wells have already been drilled since August, 1928, and 224 wells are still drilling. More wells may be drilled. This indicates that probably more than 450 wells will be drilled in the present campaign. In hardly a year's time it has caused the outlay of nearly $50,000,000 for drilling, and within the year 1929 it will have returned practically an equal amount of revenue. In contrast to conditions during 1923, when this field was once before an important and disturbing factor, the California oil industry has not been forced to refinance to meet the situation presented by such a large production of oil. There has been practically no unit selling and no stock selling, nor any unnecessary development far beyond the limits of the field. Production is now about 275,000 bbl. per day and gives every promisc of remaining at this figure or increasing to nearly 300,000 bbl. Six months from now the field should still be capable of producing more than 200,000 bbl. per day. Obviously, the need for conserving gas that would be blown to the air, incident to the production of so large a volume of oil, represents a problem in conservation deserving of the most serious attention of the oil industry and of the State of California.

Jan 1, 1930

By Paul M. Tyler

Fully a decade ago, demand for ground mica began to exceed supplies of scrap mica from manufacturing operations and of waste block from feldspar and sheet mica mining in the United States, with the result that in recent years the market has absorbed larger and larger quantities of mica recovered as a by-product from clay washing,1 as a joint product with kyanite12 and by grinding schists. So far, only schists that contain a large percentage of mica have been utilized for making ground mica, but already there has been a good deal of wishful thinking with regard to recovering mica as an aid to the prospective working of low-grade gold ores and ores of certain base metals. With wet-ground mica selling at $60 to $100 a ton and even dry-ground mica worth over $20 a ton, many ores that could not be considered as otherwise workable under present conditions will show commercial possibilities if they can be made to yield even a relatively small percentage of salable mica. An interesting paper might be written on the coming role of industrial minerals as joint products of metal mines. It is largely a matter of markets. Many years ago I watched the mess left behind the gold dredges in the mountains of Colorado and thought of the Denver sand and gravel operators who prided themselves upon their canniness in providing devices for catching gold merely as an incident to their regular business of selling what we miners classed as "tailings." Nowadays almost every milling or mining operation near settled communities finds use for at least part of its waste for road material or concrete aggregate and several eastern iron mines have gone into the crushed-stone business. Promoters now mention fertilizer "filler" as potentially salable at all the way from $1 to $10 a ton, or whatever is needed to cover costs of mining and treating the "ore" and leave the metal values as "clear profit." In emulating the pork packers in their efforts to utilize "everything but the squeal," mining engineers may go too far; on the other hand, they should not let

Jan 1, 1942

By Paul Tyler

FULLY a decade ago, demand for ground mica began to exceed supplies of scrap mica from manufacturing operations and of waste block from feldspar and sheet mica mining in the United States, with the result that in recent years the market has absorbed larger and larger quantities of mica recovered as a by-product from clay washing,1 as a joint product with kyanite,2 and by grinding schists. So far, only schists that contain a large percentage of mica have been utilized for making ground mica, but already there has been a good deal of wishful thinking with regard to recovering mica as an aid to the prospective working of low-grade gold ores and ores of certain base metals. With wet-ground mica selling at $60 to $100 a ton and even dry-ground mica worth over $20 a ton, many ores that could not be considered as otherwise workable under present conditions will show commercial possibilities if they can be made to yield even a relatively small percentage of salable mica. An interesting paper might be written on the coming role of industrial minerals as joint products of metal mines, It is largely a matter of mar-kets. Many years ago I watched the mess left behind the gold dredges in the mountains of Colorado and thought of the Denver sand and gravel operators who prided themselves upon their canniness in providing devices for catching gold merely as an incident to their regular business of selling what we miners classed as "tailings." Nowadays almost every milling or mining operation near settled communities finds use for at least part of its waste for road material or concrete aggregate and several eastern iron mines have gone into the crushed-stone business. Promoters now mention fertilizer "filler" as potentially salable at all the way from $1 to $10 a ton, or whatever is needed to cover costs of mining and treating the "ore" and leave the metal values as "clear profit." In emulating the pork packers in their efforts to utilize "everything but the squeal,"

Jan 1, 1938

By Paul M. Tyler

Fully a decade ago, demand for ground mica began to exceed supplies of scrap mica from manufacturing operations and of waste block from feldspar and sheet mica mining in the United States, with the result that in recent years the market has absorbed larger and larger quantities of mica recovered as a by-product from clay washing,1 as a joint product with kyanite12 and by grinding schists. So far, only schists that contain a large percentage of mica have been utilized for making ground mica, but already there has been a good deal of wishful thinking with regard to recovering mica as an aid to the prospective working of low-grade gold ores and ores of certain base metals. With wet-ground mica selling at $60 to $100 a ton and even dry-ground mica worth over $20 a ton, many ores that could not be considered as otherwise workable under present conditions will show commercial possibilities if they can be made to yield even a relatively small percentage of salable mica. An interesting paper might be written on the coming role of industrial minerals as joint products of metal mines. It is largely a matter of markets. Many years ago I watched the mess left behind the gold dredges in the mountains of Colorado and thought of the Denver sand and gravel operators who prided themselves upon their canniness in providing devices for catching gold merely as an incident to their regular business of selling what we miners classed as "tailings." Nowadays almost every milling or mining operation near settled communities finds use for at least part of its waste for road material or concrete aggregate and several eastern iron mines have gone into the crushed-stone business. Promoters now mention fertilizer "filler" as potentially salable at all the way from $1 to $10 a ton, or whatever is needed to cover costs of mining and treating the "ore" and leave the metal values as "clear profit." In emulating the pork packers in their efforts to utilize "everything but the squeal," mining engineers may go too far; on the other hand, they should not let

Jan 1, 1942

By J. E. Jopling, J. R. Chenneour, E. L. Derby, S. R. Elliott

The Marquette range, on which are situated the iron mines of Mar-quette County, together with a few in Baraga County, Mich., extends from a point 10 miles southwest of Marquette westward for 30 miles. The tracts are usually a multiple of the standard 40-acre parcel, which is the smallest government subdivision of a square mile or section. About half of the mines are held in fee, these being owned by the older mining companies. Some of them date back to about 1880, and a few are as early as 1850. During the past 40 years most of the mines opened have been on leased lands, the royalty being either for a stated amount per ton or a percentage of the selling price of the ore at the lower lake ports, or the selling price on board of cars at the mine. The first merchantable body of ore discovered in the Lake Superior district was found, in 1845, at what is known as the Jackson mine, near Negaunee. This ore was hard hematite. After unprofitable attempts had been made, in 1848, to smelt it in forges, shipments were begun to lower lake ports, which increased rapidly upon the completion of the locks at Sault Ste. Marie, in 1855, and the railroad from the mines to Marquette, in 1857. Beginning with the Pioneer, in 1858, a number of small charcoal furnaces were built to smelt a part of the product. At various points in the upper and lower peninsulas, large charcoal furnaces are still making iron from the ores of the Marquette range. In connection with these furnaces are byproduct plants. As the deposits were opened up, soft ore was encountered, but for a few years this was disregaided, as only the hard ore was used. Underground mining was begun about 1880 and during the next few years the open-pit mines producing high-grade ore were exhausted. The first mines in the district were owned by the Jackson, Cleveland, Lake Superior, Lake Angeline, Champion, Iron Cliffs, Humboldt, Republic, and Michigamme companies. Many of these companies have been merged in the holdings of The Cleveland-Cliffs Iron Co., which controls most of the tonnage of the district.

Jan 1, 1925

By Paul M. Tyler

FULLY a decade ago, demand for ground mica began to exceed supplies of scrap mica from manufacturing operations and of waste block from feldspar and sheet mica mining in the United States, with the result that in recent years the market has absorbed larger and larger quantities of mica recovered as a by-product from clay washing,1 as a joint product with kyanite12 and by grinding schists. So far, only schists that contain a large percentage of mica have been utilized for making ground mica, but already there has been a good deal of wishful thinking with regard to recovering mica as an aid to the prospective working of low-grade gold ores and ores of certain base metals. With wet-ground mica selling at $60 to $100 a ton and even dry-ground mica worth over $20 a ton, many ores that could not be considered as otherwise workable under present conditions will show commercial possibilities if they can be made to yield even a relatively small percentage of salable mica. An interesting paper might be written on the coming role of industrial minerals as joint products of metal mines. It is largely a matter of markets. Many years ago I watched the mess left behind the gold dredges in the mountains of Colorado and thought of the Denver sand and gravel operators who prided themselves upon their canniness in providing devices for catching gold merely as an incident to their regular business of selling what we miners classed as "tailings." Nowadays almost every milling or mining operation near settled communities finds use for at least part of its waste for road material or concrete aggregate and several eastern iron mines have gone into the crushed-stone business. Promoters now mention fertilizer "filler" as potentially salable at all the way from $1 to $10 a ton, or whatever is needed to cover costs of mining and treating the "ore" and leave the metal values as "clear profit." In emulating the pork packers in their efforts to utilize "everything but the squeal,"

Jan 1, 1938

HenRy Clay FRick, a pioneer in modern coke and steel industry and, in more recent years, one of the outstanding financiers of America, died on Dec. 2, 1919, at his home on Fifth Avenue, New York. Although he had been ill since election day, when he had an attack of indigestion which developed into ptomaine poisoning, his death was a surprise to all. He is survived by his widow, Adelaide Howard Childs Frick; a son, Childs Frick, one unmarried daughter, Helen C. Frick, and four grandchildren. A quiet funeral service was conducted at the Frick home on Wednesday afternoon by the Rev. Dr. Leighton Parks, pastor of St. Bartholomew's Episcopal Church. This was attended by members and very intimate friends of the family, Trustees of the Metropolitan Museum of Art, Officers of the Links Club, and Directors of the United States Steel Corpn. Henry Clay Frick was born Dec. 19, 1849, in West Overland, Westmoreland Co., Pa. His father, John W. Frick, was a farmer of Swiss ancestG, and his mother, Elizabeth Overholt Frick, a member of an old Mennonite family. Until he was sixteen, he spent his time at school, on his father's farm, and in his grandfather's distillery, where he kept books. He attended Otterbein University, in Ohio, for a year. Frick, learning that coke was an essential of the already rapidly developing steel business, early invested every cent he could get in coking-coal lands. With the help of an associate of his grandfather, he formed the corporation of Frick & Co., coke dealers, and acquired fifty-one ovens in the Connellsville region and 300 acres of soft-coal lands. During the panic of '73, with the help of Judge Thomas Mellon, a Pittsburgh 'banker, he bought out his partners and while coke was selling at 90 cents a ton enlarged his purchases of suitable lands. Later, the price of coke increased until it was selling at $5 a ton. Before he was 30 years old, Frick was rated a millionaire. Association with CaRnegie In 1878, he sold an interest in the business Do E. M. Ferguson of New York, and later a share to Mr. Ferguson's brother. Four years later the business was reorganized into the H. C. Frick Coke Co. with vast coal lands, great banks of ovens, and a capitalization of $2,000,000. Then began his association with Andrew Carnegie. He exchanged a part of his coke interest for shares in Carnegie Brothers of Pittsburgh,

Jan 1, 1920

By P. R. Jochens

South Africa depends to a considerable measure on the exploitation of mineral reserves and the processing of these minerals. One of the prime requirements for the mining and metallurgical industry to continue in this vital role is access to sufficient energy in a suitable form. Hence, four important questions are discussed: Does South Africa have sufficient energy for the processing of its minerals and metals! Will the cost of energy allow South Africa's minerals and metals to compete on world markets? Can mining and metallurgical processes become more energy-efficiency Can mining and metallurgical processes be adapted to the various forms of energy that may have to be utilized in the future? It is concluded that about 26 per cent of the extractable reserves of coal would be required in the mining and processing of 50 per cent of South Africa's reserves of gold, platinum-group metals, copper, iron, ferrochromium, and ferromanganese. However, the reducing agents required exceed the extractable reserves but not the total estimates of mineable in situ resources of metallurgical coal and anthracitic coal. Even under the severe constraint that coal could become virtually the sole source of energy, only about three-quarters of the extractable reserves of coal would have been consumed by the year 2025. The reasonably assured resources of uranium metal that can be recovered at less than $80 per kilogram are considerable and, at current conversion efficiencies to electricity, are equivalent to one-fifth of the extractable reserves of coal. The rate of exportation of energy in the form of U30. was about five times that of coal in 1978. It is pointed out that the price of energy has a direct effect on the competitiveness of metals, and, although constituting only a small proportion of the selling price of precious metals, it represents a significant proportion of the selling price of copper and metals recovered from oxide ores. The scope for the conservation of energy appears to be greater in the extraction and conversion of primary energy-carriers to electrical energy than in other mining or metallurgical fields. Provided that alternative sources of energy can be converted to electrical energy, they can be applied to the mining and metallurgical industries. The decision as to which type of energy should be used in specific mining and metallurgical situations is complicated, and is likely to be subjected to closer scrutiny than in the past. The hope is expressed that the tentative conclusions reached will give rise to more-quantitative analyses from those qualified to undertake such an exercise. Inevitably, the questions asked at the outset give rise to more questions, and the more interesting ones are posed in the context of each conclusion.

Jan 1, 1980

By Joan Weinberg

The real gross national product (GNP) expanded by 2.3% during the second quarter, down from the anomalous 4.4% growth rate in the previous 3 months. If the expansion continues through October, it will have lasted 5 yr and become the second longest in 40 yr.2 As in the first quarter, improvement in U.S. exports played a role in the continuing--albeit slow--growth. More than 2 yr of declines in the dollar relative to currencies of other industrial countries have contributed to a slight reduction in the trade deficit in real (volume) terms, as real net exports of goods and services rose $1.9 billion (table 1). Exports grew a strong 12.1% while imports, which had fallen the previous two quarters, rose 7.4%. Manufactured goods and petroleum products accounted for most of the second quarter import increase. The American Petroleum Institute estimates that the volume of crude oil and refined products imports in the first half of 1987 surpassed those in the same period last year by 7.5%, reflecting falling domestic production and higher than expected demand. Expenditure on durable goods--those that last at least 3 yr-by both consumers and producers also contributed to the second quarter expansion. Personal consumption of durable goods rose 9.0%, after having fallen the two previous quarters. Motor vehicle purchases accounted for most of the second quarter increase and the first quarter decrease. Sales of automobiles surged in the last quarter of 1986, as consumers rushed to capture the sales tax deduction that was eliminated on January 1. Sales fell in the first quarter of 1987, but have now moved closer to the trend line exhibited in the first three quarters of 1986. Automobiles accounted for half the 0.8% July gain in retail sales, and two-thirds of the 1.4% June gain. Producers durable equipment purchases also rose this quarter, accounting for the increase in nonresidential fixed investment.

Jan 1, 1987

Martin Marietta Aluminum, Inc. followed Howmet Aluminum Corp., Revere Copper and Brass, Inc. and Anaconda Co. in lifting August prices of 99.5 percent unalloyed aluminum ingot by 3 cents to 56 cents per pound. Prior to these moves, Kaiser Aluminum and Chemical Corp. raised its June ingot listings by 4 cents to 57 cents and Consolidated Aluminum Corp., 4.5 cents to 57.5 cents. Domestic merchants increased July quotes by slightly more than 1 cent to 51.3-51.8 cents per pound. ARSENIC The Occupational Safety and Health Administration (OSHA) issued new standards, effective August 1, for worker exposure to inorganic arsenic, a toxic substance linked by OSHA to lung and lymphatic cancer. The new standard will limit worker exposure to 10 micrograms per cubic meter of air over an 8-hour period, a drastic reduction from the previous standard of 500 micrograms for a like period. Implementation of the new standards may be the most difficult and costly for copper smelters where arsenic is associated with the copper feed material but problems will also be encountered by producers of arsenic containing products such as for pesticides and herbicides. The new standards allow use of personal protective gear for workers as an interim measure until plant engineering controls can be put into effect.

Jan 1, 1978

By Keith L. Harris

Real2 gross national product (GNP) grew at a seasonally adjusted annual rate of 1.3% in the fourth quarter and at 2.5% for all of 1986, according to the most recent Department of Commerce estimates table 1). The 1986 GNP growth was the lowest since the recession in 1982, and was slightly below the estimate published in the last issue of Minerals and Materials. Barriers to greater economic growth in 1986 included the Federal budget deficit, the trade deficit, reduced energy-sector investment because of low oil prices, and uncertainty over changes in the Federal tax code.3 Major sectors of the economy responsible for the fourth-quarter growth included real Government purchases of goods and services, up $19.9 billion from the third-quarter level; real net exports, up $12.2 billion; real residential investment, up $3.0 billion; and nonresidential fixed investment, up $1.5 billion. The increase in Government purchases of goods and services was attributed to the S25.1 billion rise in net purchases of farm products by the Commodity Credit Corp-oration. Real personal consumption expenditures and inventory investment declined, however. Personal consumption expenditures declined primarily because of reduced motor vehicle purchases. Despite only modest growth during the fourth quarter, the economy improved significantly because of the narrowing of the trade deficit and growing employment (table 2) while maintaining low unemployment and inflation rates. Business sounded an optimistic note, with planned increases in current-dollar capital spending of 0.9% for 1987 compared with a 1.7% decrease in 1986. While it is primarily the nonmanufacturing industries that expect to increase investment from 1986 levels, some manufacturing industries are increasing investment by significant percentages as well, notably the steelmaking and nonferrous metals industries (table 3).

Jan 1, 1987

By John R. Bradley

The object of this paper is to survey and analyze the bearing of economic nationalism, competitive sources of energy, and technologic developments on international trade in coal with especial reference to the competitive position of the leading coal-exporting countries in the Italian market, the largest in the Mediterranean region, and the Brazilian market, the second largest in Latin America. The political, economic, and financial disturbances caused mainly by the World War have resulted in an amazing situation. Especially since 1930 have conditions been complicated.

Jan 1, 1936

By Robert L. Lappi

Eight interburden handling concepts are developed for multiple seam area mine stripping operations in central and western United States. They are based on data gathered and analyzed during field surveys, literature reviews and visits to state regulatory agencies in five states. It is concluded that improvement of reclamation practices through selective interburden handling techniques is possible at lower operating costs than currently incurred. Specific multiple seam mining systems are discussed in this report.

Jan 1, 1980

By George J. Allen, Laura A. Allen

Introduction This section of the text presents a general review of the different types of concentrate marketing contracts. Too often the marketing strategy is ignored in the design phase of the project and the producer is left to the mercy of the buyer. Many items such as concentrate grade, impurity levels and moisture content of the concentrate my enhance, or severely restrict the producers ability to make a profit it. Close attention should be paid to the design of the concentrator which can improve the quality of the concentrates, thus the ability to increase the rider of potential buyers can be enhanced. Difficult at best, is the position of the miner who only has one outlet available for its production. Obviously, the trade offs must be evaluated. For example, concentrate grade vs recovery and grind/filtering capacity vs moisture of the concentrate all must be weighted against freight cost to a potential buyer. In addition, the above considerations must be weighed against the capital cost to the miner. This chapter is intended to highlight important articles that are included in short and long term agreements and to give a new miner/producer some insight into hat my or my not add value to the product. Unless the miner sells the product directly to a consumer such as a gold, or silver producer, or to a large enough operation that has a totally intergrated system to make a finished product, most miners are forced to sell to buyers who ultimately will refine and market the product. Types of Contract Agreements There are many types of contract agreements just as there are colors in the rainbow, however, most contracts fall into three basic categories. (1) Smelter Schedules: Designed for the small producer, the odd lot of concentrate, smelter flux and precious metal ore. Albeit custom smelters are becoming fever by the day, because of pollution control requirements and financial difficulties, most remaining custom smelters have a smelter schedule. A smelter schedule is a posted list of charges and conditions that the smelter will buy material from a seller. Smelter schedules exist for copper, lead, zinc, silver and gold (Handbook for Small Mining Enterprises, Montana Bureau of Mines). (2) Short Term Custom Contracts: Large mine producers frequently use Short Term Contracts where the seller has the buyer frame a contract that is tailored to the sellers’ production. The short term contract my be as long as one year. A spot sale qualifes as a

Jan 1, 1986

By Robert M. Dreyer

Diamond is the hardest known material. The diamond industry is separated into two major segments: (1) industrial and (2) gem. The major industrial use of diamonds is as a high-grade abrasive in a wide variety of applications for which no effective low-cost substitute is available. Table 15.4C.1 gives data on diamond production and on United States diamond imports. In both gem and industrial diamond production, but especially in the case of gems, the quantity of stones produced is not directly correlated to value, for the determination of value is markedly affected by quality. South Africa long has been the world leader in gem diamond production with an estimated production in 1968 (including South-West Africa) of about 4 million carats, equal to 43% of world production. During the past decade there has been a marked rise in gem diamond production in the USSR, so that nation is now the second-ranking world producer, with Angola (Portuguese West Africa) third. In natural industrial diamonds, the major production comes from Congo-Kinshasa (former Belgian Congo) which had a production of 15 million carats in 1968, equal to 47% of world production. In the past six years, there has been a remarkable increase of industrial diamond production in the USSR, which now ranks second with a production of 6 million carats, equal to about one-fifth of world production. South Africa now ranks third followed by Congo-Brazzaville and Ghana. No natural diamonds are produced in the United States. Since the discovery of an economical method for synthesizing small diamonds, there has been a rapid increase in synthetic production from 4 million carats in 1962 (1 carat equals 200 mg) to 11.5 million carats in 1968. Table 15.4C.1 gives the gradually increasing imports of industrial diamonds and indicates a relatively stable price. In 1968, the imports of industrial diamonds were 13.5 million carats with a value of $59.2 million. Table 15.4C.2 shows the rapidly increasing imports of cut and uncut gem diamonds into the United States. In 1968 the United States imported 2.5 million carats of uncut stones with a value of $166 million and 1.5 million carats of cut stones with a value of $175 million. Diamond marketing is dominated by DeBeers Consolidated Mines, Ltd., which, through subsidiaries, controls many of the major African diamond deposits. More important economically, however, through its Central Selling Organization, DeBeers markets 86% of the non-Communist world's natural diamonds, including most of those derived from deposits outside of corporate control. In 1967 the mines owned by DeBeers produced nearly 8 million carats, and the Central Selling Organization sold over $600 million in gem and industrial diamonds. The dominance of diamond sales by

Jan 1, 1976

By Chester A. Fulton

In Polk County, Florida, the mining of raw phosphates began some 50 years ago with dredging operations on the Peace River, and in other near-by places by removal of shallow overburden with negroes and wheelbarrows, or with mules and scrapers, and the excavation and screening of deposits found close to the surface. There were many individual operations of comparatively short life. Later steam shovels removed the overburden, and still later hydraulic methods were substituted for the steam shovel. Within the last 10 years large electrically operated draglines have almost entirely replaced hydraulic mining for overburden removal. The matrix is still mined by hydraulic giants and pumped to the washer or recovery plant. The many small operations have long since disappeared and the most desirable phosphate lands have gradually been acquired through purchase or merger by the seven companies that are operating in the field today. These companies are producing and selling about 2,000,000 long tons of phosphate per annum, or about two-thirds of what the industry likes to think is the normal output, with 1929 and 1930 in mind. To produce these 2,000,000 long tons of raw phosphate, they mine and treat about 1,000,000 tons of tailings from older and less efficient operations, about 11,000,000 tons of matrix, and remove from above this matrix some 22,000,000 tons of overburden. The mining practice that has made possible the excavation and handling of 34 million tons of material to win but 2 million tons of merchantable product, selling for probably an average of only $4 per long ton when dried, should be of interest to the mining profession, though little has been written of it. The Florida Pebble Field, as it has come to be known, comprises an area (Fig. 1) within a radius of about 18 to 20 miles centering around Mulberry in Polk County, a small town 30 miles east of Tampa, Florida's largest port on the Gulf coast. The geology1 of these phosphate pebble deposits may be described briefly. A fairly pure limestone was altered to a secondary apatite.

Jan 1, 1938

By Chester A. Fulton

In Polk County, Florida, the mining of raw phosphates began some 50 years ago with dredging operations on the Peace River, and in other near-by places by removal of shallow overburden with negroes and wheelbarrows, or with mules and scrapers, and the excavation and screening of deposits found close to the surface. There were many individual operations of comparatively short life. Later steam shovels removed the overburden, and still later hydraulic methods were substituted for the steam shovel. Within the last 10 years large electrically operated draglines have almost entirely replaced hydraulic mining for overburden removal. The matrix is still mined by hydraulic giants and pumped to the washer or recovery plant. The many small operations have long since disappeared and the most desirable phosphate lands have gradually been acquired through purchase or merger by the seven companies that are operating in the field today. These companies are producing and selling about 2,000,000 long tons of phosphate per annum, or about two-thirds of what the industry likes to think is the normal output, with 1929 and 1930 in mind. To produce these 2,000,000 long tons of raw phosphate, they mine and treat about 1,000,000 tons of tailings from older and less efficient operations, about 11,000,000 tons of matrix, and remove from above this matrix some 22,000,000 tons of overburden. The mining practice that has made possible the excavation and handling of 34 million tons of material to win but 2 million tons of merchantable product, selling for probably an average of only $4 per long ton when dried, should be of interest to the mining profession, though little has been written of it. The Florida Pebble Field, as it has come to be known, comprises an area (Fig. 1) within a radius of about 18 to 20 miles centering around Mulberry in Polk County, a small town 30 miles east of Tampa, Florida's largest port on the Gulf coast. The geology1 of these phosphate pebble deposits may be described briefly. A fairly pure limestone was altered to a secondary apatite.

Jan 1, 1938

By Arthur Mackwell

The role of the precious metals is changing rapidly. They are becoming primarily materials of modern industry, and their decorative and monetary functions are diminishing in relative importance. Certainly gold is still the premier metal for jewelry, as silver is for silverware. But these uses are not growing nearly so fast as are the uses of these metals in a variety of industries. This is even more true of the platinum metals. Moreover, this is true despite the fact that the precious metals are highly expensive and liable to substitution by the base metals in cases where this is feasible. For the fact is that the physical and chemical properties of the precious metals make them relatively invulnerable to substitution; where they can be replaced by the base metals, they have been, and the opportunity for further substitution is, therefore, limited. SILVER In November 1969 the United States Treasury stopped minting the only remaining coin with any silver content. That was the silver-clad Kennedy half dollar, which had a silver content of approximately 40%. The step was taken out of necessity, because of the rising shortfall between world mine production and consumption. It was important to divert the 35 to 40 million oz of silver per year used for the minting of this coin into the open market, where it would be available for industrial consumption. This decision was important, not only for its practical effect but also for what it symbolized. Only four years earlier, in 1965, the Treasury had used 320 million oz of silver" for the full range of coinage. Now not an ounce of silver goes into the United States coinage. The reason is simple and yet complicated. For many years the U.S. Treasury had purchased silver at prices which provided a subsidy to domestic producers. As a result, silver producers were eager to sell to the Treasury, and that agency built up a huge supply of the metal -almost 2 billion oz by- 1961. But, as the free-market price neared $1.29, the basic melt value of the coinage, the Treasury became a seller of silver, not a buyer, and its stock was depleted rapidly. The Treasury lost more :than a billion ounces of silver in the years 1962 through 1965, and it continued to lose silver, both through coinage and through sales to consumers, through 1969. The Government continued to sell silver to consumers at the rate of 1.5 million oz a week, even after terminating the 40% silver Kennedy half dollar. But it was apparent that the Government stocks could last no more

Jan 1, 1976

By Corliss R. Kinney

SINCE the first atomic bomb exploded over Japan, a great deal of speculation has been published about the use of atomic energy instead of coal for the production of power. Atomic energy, in time, may displace coal for this purpose, but atomic energy will not displace coal in supplying chemical raw materials to the rapidly expanding carbon-chemicals market. Modern civilization demands large quantities of carbon compounds and the logical source of many of these is coal. Consequently, many progressive operators are considering the possibilities of the utilization of coal as a chemical raw material as never before. Furthermore, the demand for clean, smokeless, and ashless fuels will continue to increase and the only way to handle coal under those conditions is to take it apart, just as crude petroleum is taken apart. One can readily imagine where the petroleum industry would be now if it had insisted on selling customers only crude oil, perhaps emulsified with a little salt water to correspond to the moisture and mineral matter in raw coal. The time seems to be coming at an accelerated pace when mine operators will find that competing for a highly selective fuel market by producing a larger tonnage at smaller cost will be less profitable than to increase the value of a smaller tonnage many fold by producing something more valuable to industry and civilization than raw coal. For example, about 750,000 tons of carbon black selling for $50 to $60 per ton was produced in the United States in 1945. This tonnage is insignificant compared with the total production of coal in the United States, but a very tidy tonnage, together with the coal necessary to operate the process, for any mine operator fortunate enough to obtain a method of producing a better carbon black from coal. From the point of view of tonnage, the manufacture of coke of various kinds and its by-products is at present the most important source of carbon chemicals from coal. Nearly 20 per cent of the coal mined in this country is used for this purpose. A large proportion of the coke is used for the production of iron and steel, but even in this operation a considerable part of the coke is used for a chemical purpose; that is, the reduction of the ore to metallic iron. In addition, large quantities of coke are used in manufacturing many important products that find their way into the market. POSSIBILITIES OF ACETYLENE One of the important chemicals manufactured from coke is calcium carbide, from which many products are made. One of these is acetylene. This hydrocarbon can also be manufactured from natural gas or from waste oil-refinery gas and' these industries will probably offer competition for the manufacture of acetylene. Coke-oven gas can be used for making acetylene and should receive consideration

Jan 1, 1946

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