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By Robert M. McGeorge, Edward S. Frohling

Most mining engineers and metallurgists who get out of school usually wind up working for a large or medium-sized company and are seldom heard of again. The enterprising few who decide to go into business for themselves soon discover that while they can adequately tackle the various technical problems involved in developing a new ore body, they know little about putting together a feasibility study-and even less about financing their project. If you are in that predicament, you'll probably tend to view the financing problem as insurmountable, especially when the economy is in a slump, capital is scarce or seemingly non-existent, the equity market is in the doldrums, labor and equipment costs keep going up relentlessly-and, to make things worse, you must operate within the competitive context created by large mining firms that seem to have in abundance all the capital and managerial expertise you feel you lack. If it's any consolation, many potentially successful properties, whether owned by big companies or small firms like yours, never reach the production stage either because of illogical expenditures made in the early phases of development or because of inefficient management. And inefficient management is a common plague in big and small companies

Jan 9, 1975

By Ta M. Li

The implementation of the Clean Air Act (CAA) Amendments of 1970 has resulted in a clean fuels deficit that has significant adverse environmental, energy and economic implications, according to the Project Independence Report. The CAA Amendments charge the Environmental Protection Agency (EPA) to establish national air quality standards as well as national standards for significant new pollution sources and for all facilities emitting hazardous substance. Section 110 of the CAA provides the framework for states to establish "emission limitations, schedules, and timetables for compliance with such limitations, and such other measures as may be necessary to insure attainment and maintenance" of ambient air quality standards. State implementation plans (SIP) are subject to EPA approval. EPA is authorized to enforce federal and state requirements by order or civil suit, including injunctive relief.

Jan 5, 1975

THE second part of the mould for making guns is the core. Without this the space could not be made where the powder is to be and through which the ball, impelled by the fire, can pass and take flight. To make this it is necessary to take two things into consideration, because they are very important. One is what you are to make it on so that it may be supported and kept true. The other is what composition of clay will stand up during casting and yet not be very difficult to extract from the body of the finished gun. For the first, it is found that only an iron spindle of a suitable thickness is able to support the weight of the clay without bending under the heat of the fire or wobbling as it is turned on its journals or when handled. This should be a braccio or more longer than the mould of the gun and worked exactly round, straight, and well tapered like a spindle; above all every one of its joints should be well secured and solid. At the upper end a per-orated heel should be made, and lower down, exactly at the point corresponding to the length of the mould, are one or two other holes through which the little crossbars can be passed that fasten the core to the outer mould and also serve for constructing the disc. Now this iron is to be arranged on two trestles, pivoted so that it may turn truly when rotated. In order that it may not run up and down, make a little iron fork which engages a notch made with a file at the foot, and another at the head. After this, you must prepare clay for the core which is well made and tenacious ,enough not to crack. Fint take care that there are no pebbles in it and that it is composed of a small amount of cloth clippings and much sifted horse dung and some washed and clean wash ashes so that it may be of a tender and crumbly consistency in order that it may later be more easily extracted from the space inside the gun. In the same way, in order that you may be able to take out the iron piece at the same time, first cover it with ashes, and then wrap it all over with a rope of ordinary thickness, leaving a dito of the iron uncovered in every palmo length. [86] Alternatively, you may cover it all very tightly with hemp tow in the same way after it has been covered with ashes. Or heat your iron considerably and then cover it all to the thickness of a good cord with wash ashes or powdered charcoal that has been made into a paste with a little

Jan 1, 1942

By John E. Caffrey

The Federal Coal Mine Health and Safety Act of 1969, Title III, Interim Mandatory Safety Standards for Underground Coal Mines, is devoted to protection of workmen from hazards of electricity, roof, ribs, fire, and explosions. The Rules and Regulations, promulgated through the Federal Register, provide the criteria by which the law would be administered. Certain aspects of the law involve features that could be summarized under entrapment. These are sections 303 (y)(1), (y)(2) and 317 (f) (4). This paper is intended through the use of the figures to describe how these features of the law affect mine ventilation design, what are the problems, and possible solutions to them.

Jan 1, 1974

By Jack F. Havard, John S. Lagarias

When ore bodies are faulted or mill feed turns refractory, mining managers and engineers act vigorously to convert imminent failure into eventual success. The recent proliferation of onerous environmental regulations and restraints is likewise a threat to successful mining enterprise, in some ways more insidious and dangerous than the problems presented by natural obstacles. The regulatory burden has become so heavy that a pall of pessimism covers much of the mining industry. In this paper we frankly recommend an approach that does not just "make the best of it" but rather directs the whole environmental process: first, to improve planning, engineering, and operating procedures; and, second, to demonstrate the need for modification of laws and regulations which are intolerably burdensome to both the mining industry and the public.

Jan 1, 1979

By G. H. LeFevre

THE Metal Sales Department, with offices in New York, is responsible for the sale of the Company's products, with the exception of gold and coal. At present the department handles the sales of lead, zinc, silver, antimonial lead, , cadmium, bismuth, arsenic trioxide, and tellurium; gold is shipped direct to the United States Mint and coal is marketed by United States Fuel Company's own sales organization. The department keeps in close touch with the metal markets and collects information on marketing conditions, which it makes available to other departments of the Company. The electrolytic lead produced at the U. S. S. Lead Refinery, Inc., is a high-uality product marketed as corroding grade under the "U. S. S.-ELECTRO" brand. It is largely sold to manufacturers of paints, pigments, lead oxides, and storage batteries.

Jan 1, 1948

By Robert A. Jankowski, Charles D. Taylor

The objective of this program was to conduct dust surveys at six longwall sections having double-drum shearers, that were regularly in compliance, and to identify the dust control techniques that were the most effective. As each of the mines selected had a record of regular compliance with the Federal Dust Standard, all sampling was "short-term" (often less than 30 minutes) and no attempt was made to relate the survey results to dust-sampling results obtained by the companies for compliance purposes. The sampling procedures (1) used during this survey were developed jointly by the Bureau of Mines and Foster-Miller Associates, Inc. In addition to monitoring dust levels, measurements were also taken throughout the shift to monitor airflow along the face and water usage on the shearer. This program was a cooperative effort of the Bureau of Mines and the Mine Safety and Health Administration (MSHA). The following MSHA health specialists contributed to its successful completion: Paul Lenyo, CMS&H, Dist. 2; Ellis Mitchell, CMS&H, Dist. 3; Carl Jenkins, CMS&H, Dist. 4; David Stritzel, CMS&H, Dist. 8; and John Prelc, CMS&H, Dist. 9. RESULTS CUTTING SEQUENCE - WORK LOCATION At all mines surveyed, an important factor in controlling dust exposure at the shearer is the design of the cutting sequence so as to allow the shearer operator to work most of the time on the intake-air side of the lead drum. It is generally accepted that most of the dust generated by a double-drum shearer comes from the lead drum, which in the raised position normally takes a full sump. Because the position of the drum that is in the raised position determines the horizon control, the operator must be close enough to carefully monitor its operation. Therefore, his position relative to the lead drum has a significant effect on his dust exposure. Dust profiles, such as those constructed from data collected at Mines A and B (Figure 1), show the large gradient in dust concentrations that can exist between the intake and return air side of the lead drum. When the primary cut is taken head to tail, the lead drum is downwind and dust levels can be maintained at a low level until air has passed the shearer (Mine A). Thus, shearer operators can stay in relatively uncontaminated air. When the primary cut is taken tail to head, the lead drum is upwind of the shearer controls, resulting in higher dust concentrations at the shearer operator's work location (Mine B). At the mines where this cutting sequence was used, it was company policy for the shearer operators to walk on the intake side of the lead drum, returning to the controls only to adjust the height of the lead drum. DIRECTED WATER SPRAYS AND PASSIVE BARRIERS It is not always possible to keep the shearer operator on the intake air side of the lead drum. Various techniques have been tried to keep the dust generated by the shearer away from the machine operators when they work adjacent to the shearer. At all mines visited, the external water spray nozzles were directed so that dust from the shearer was directed downwind and toward the face, and away from the shearer operators. The effectiveness of using external water sprays to keep dusty air close to the face was noted during Bureau of Mines efforts to develop improved water spray systems (2). Laboratory and underground tests showed that water sprays located properly and directed downwind can create aiflow patterns that move dust generated by the shearer toward the face and away from the shearer operators. Sprays directed upwind, into the airflow, can actually move dust away from the face

Jan 1, 1982

By Irwin H. Cornell

BRIEFLY stated, the history of the St. Joseph Lead Co. is the story of how a group of men, working for ten years as officers without salaries and stockholders without dividends, developed a small mine in Missouri into what became a large and prosperous corporation. Their courage and faith in the scattered surface deposits of lead coupled with the management's engineering vision and sound financial judgment should prove an inspiration to present-day mining operators and investors. In 1717, John Law's company, known as "The Company of the West," was formed in France and letters patent were granted, for a period of 25 years by Louis XV, for exploration in the Mississippi River Valley. One of the underlying purposes of the expedition, headed by Mr. Renault and Mr. La Motte, a French metallurgist, was development of the lead mines in the area now known as Southeast Missouri.

Jan 1, 1947

By Lester Woolsey

THE State Department can be of assistance to Americans in the petroleum business directly and indirectly. During the past few months, at the Arms Conference, it had a large hand in dealing with affairs indirectly affecting the oil problem. The conference has somewhat relieved the emphasis on naval strategy in relation to oil supply by limiting the number of naval vessels or the fleets of the Great Powers and in maintaining the "open door" in the Far East in respect of the development of the natural resources of that region by defining that policy in a nine-power treaty. The largest competitors of the. United States in the petroleum field are parties to that treaty. The Department of State also has stood steadfastly for the principle of equal opportunity in the Dutch East Indies, Mesopotamia, and Persia. The Department of State has been of indirect assistance in connection with oil problems by insisting on the recognition of treaty rights and other guar-antees, such as most-favored-nation clauses, and mandate provisions. I am not speaking as a representative of the Depart-ment of State, as L now have no connection with that institution, but my experience of several years as a member of the department and my practice since my resignation have given me opportunity to see the department from both the inside and the outside, and to measure its limitations as well as its resources.

Jan 7, 1922

By Robert A. Brusca

OUTLINE Mineral Poor, but great primary inputs Net importer of most primary inputs • Copper • Zinc • Aluminum • Oil Problems for Japan • Supply Disruption • Currency Swings Remedies • Yen pricing of primary products • Long term contracts • Ownership of primary commodity producers Current Approach No Text Available

Jan 1, 1990

By AIME AIME

I N JUNE, 1918, at a meeting of the American Society of Mechanical Engineers in Worcester, Mass;, a resolution was adopted for a committee to investigate the aims and organization of that society. This was followed subsequently by similar independent action on the part of the Society of Civil Engineers. The other two Founder Societies were approached and requested to appoint similar committees, the four committees to combine as a .Joint Development Committee, later called the Joint Conference Committee, to investigate what might be done in the way of coordinating those activities of the Founder Societies which ape of common interest, and which were then being pursued separately. The Joint Conference committee worked diligently -for almost. two years and. brought forth a tentative as outlined in its report which was published in full in MINING AND. METALLURGY, December, 1919. It recommended the formation of a nation-wide organization to be composed of representatives' of all of -the engineering societies, local, state, regional, or national, the object to be to further the interest of the public through the use of technical knowledge and engineering experience, and to consider and act upon matters common to the engineering and allied technical professions. Whereas the technical societies have large fields of endeavor in welfare work, and their prime. efforts are 'still in technical lines, this new organization was to be devoted entirely to service, looking to the welfare of the nation and the engineering profession, and to service for the public in local and state affairs.

Jan 1, 1920

By Sam F. Harrison

The National Board of Boiler and Pressure Vessel Inspectors again sends out this recommendation: If you have an air compressor that is mounted directly on the air tank, get it off. Characteristically, small- to intermediate-sized air receivers are thin-walled vessels, and as such are prone to failure when subjected to external loading. Many of these vessels, if not a great majority, are bought by a distributor of air compressor systems, who provides the compressor, motor, switchgear and other accoutrements-all of which are very frequently mounted on a base which is then welded to the shell of the receiver. These welds at the points of attachment transmit external loading to the tank in the form of weight and vibration, frequently resulting in stress-induced cracks.

Jan 3, 1978

By James M. Link

The design and construction of cross-country pipelines for fluids such as crude oil appears relatively simple compared to the complex problems encountered in slurry systems. Considerable effort has been expended in hydraulic research laboratories in an attempt to improve the understanding of slurry behavior. This effort has been rewarded with considerable success and is best illustrated by the large number of slurry systems now planned or under construction. However, slurry transport in pipelines is still, in many instances, more of an art than a science. In order to minimize the risk factors in the construction and operation of large scale slurry systems, studies are frequently conducted in pilot scale test loops such as the one at the Colorado School of Mines Research Institute. The pilot scale projects are designed to provide the basic engineering data necessary to design slurry transport pipeline systems. Usually three slurry solid concentrations are pumped at various line velocities and optimum slurry densities and velocities are determined. Critical velocities, friction head losses, power requirements, and so forth, are also determined from measurements and calculations. Wear tests are also strongly recommended and anticipated pipe wear rates in inches per million tons of solids reported.

Jan 11, 1972

By Frank W. Reinmiller, Edward S. Hsia

Earth bottom thickeners are generally considered to be the lowest cost solution for thickener bottom construction presently available to the mining industry. In addition to the capital cost advantage, these basins have proven to be watertight structures providing trouble-free operation for indefinite periods of time. During the past 15 years, some 18 of these thickeners have entered service with no particular problems encountered in porphyry copper operations, counter-current decantation in a gold cyanide plant, and other similar applications in mineral processing. In the course of this work, technological advances have been realized in the procedures for engineering and construction of these units to assure watertight basins and achieve all possible economies in construction.

Jan 8, 1977

By K. C. Strebig, C. W. Schultz, A. A. Selim

For some time researchers have attempted to in- crease drilling efficiency (and therefore reduce costs) by adding certain chemical agents to the circulating medium. The effect of some organic additives on the diamond drilling of quartzite was recently investigated in the laboratory by personnel of the U. S. Bureau of Mines. In these tests, the penetration rate and bit life were found to increase with the use of additives. In addition, an economic analysis of a hypothetical 1000-ft hole showed that additives can reduce drilling costs by 30%. Wetting Agents Improve Drilling Efficiency Much of the interest in the use of wetting agents to improve drilling efficiency is the result of an observation made by Rehbinder, Shreiner, and Zhigach.1 These investigators postulated that drilling creates a region of increased crack formation directly below the bit and that a circulating medium that wets the rock will also penetrate the micro- cracks of the predestruction zone. Increasing the molecular affiinity (wetting ability) of these circulating media for the surface of the rock helps the deformation and destruction by softening the rock in the zone of increased crack formation. In this manner, the hardness or strength of the rock is decreased as the medium wets the rock in the predestruction zone. This is known as the "Rehbinder effect." Rehbinder's work has prompted many investigators to examine the relationship between the use of additives and the mechanical destruction of rock. Engelmann, Terichow and Selim reported that the maximum penetration of the rock by a diamond point in a solution environment was at the isoelectric point of the mineral and solution interface.2 Improvement in rock breakage with the use of additives was observed by Frangiskos and Smith.3 Joris and McLaren suggest that additives having a lower surface tension than water will also be more efficient in cooling the diamonds.4 Additives help remove fine cuttings from the face of the bit and improve efficiency. The latter two authors also report an improvement in impregnated bit life and penetration rates with the use of soluble oil additives. All of these investigations were initiated in the hope of discovering what economic benefits will accrue with the use of additives.

Jan 10, 1969

By A. H. Lindley, Fraizer M. Stewart

For many years large mining companies were able to finance nearly all of their capital requirements from internally generated funds. However, during the last decade, funds needed for capital expenditures, dividends, and scheduled debt retirement have grown faster than cash flow. As a result the minerals industry has had to rely increasingly on other sources of funds. Getting the capital for new mining projects is a challenge, particularly for smaller companies. New methods of financing and new variations to old methods have been developed and more are needed. Commercial banks are short-term lenders. By policy their loans are limited to low risk loans-those made solely on the borrower's general credit, and secured loans where cash flow is sufficient to provide repayment within a comparatively short term. To maintain liquidity, banks prefer to make loans of less than seven years' term. If a longer loan is needed an insurance company or pension trust may take the long-term part.

Jan 1, 1971

By Edgar F. Cruft

INTRODUCTION It is sometimes said that "mines are made, and not found." I rather doubt that the exploration geologist would be overly sympathetic to that statement, and, of course, like most one-liners it is only partly true. Access to different financial markets are important at the mineral prospect stage. The modern mine financier has a much more complex, and interesting, job than the financiers of an earlier era, for example, the Canadian financiers of the 40's and 50's who had one simple set of options; i.e. float a company, promote it, and sell an equity stock issue, and then promote it some more. QUALITIES OF A FINANCIER Because technical people are seldom taught financing in their basic training, and because they are usually not involved in it until at quite a senior level in their careers, the whole field often acquires a certain mystique. The engineering professions have too often believed financing is the province of the accountant or financial executive and just as we in the technical world are often too quick to bristle if the latter try to tread on our domain, the opposite can just as easily be true. Unfortunately, this is another example of a compartmentalized individual, and that is one thing the successful financier cannot be. However, to be a successful financier one does not need extensive training or experience in accounting or finance. In fact it can sometimes be a disadvantage to get too buried in working only from the standpoint of discounted cash-flow analyses, ROI's, etc. It must be stressed, however, that one had better know how these analyses are made, and be knowledgeable in understanding a balance sheet, and have a good understanding of financial terminology. The difference between a simple project-type debt financing with a commercial bank and a more inventive and creative financial package comes from an intuition and an experience relating to risk-reward factors. The most important element is "common-sense", based on knowledge and experience. The goal is structure a financial package that fits the project, and in so doing it is important to recognize that it must fit within the limitations of the group supplying the money. I find insensitivity to recognize these constraints the most common mistake made in the field. Put yourself in the other person's place and understand his sources of funds and financing limitations. The engineer has an advantage in financing, as he or she has (or should have) a better idea than anyone of the value of the product, be it the mine, prospect, or company i.e. the intangible or potential worth which cannot be put on a pro-forma. He also knows, or should know, the risks involved. Two projects might look the same on paper, but a good financier must have a sense of when to take whatever deal he can get, and when to hold out based on his evaluation of future developments. It is essential to have a good sense of commodity values and trends, trends affecting the general economy (money supply, interest rates, effects of energy costs, etc.), and political considerations. He must also have a good understanding of the science and art of taxation as deals can often be financed using the government as a silent and unwitting partner by proper use of the tax laws. WHEN TO SEEK FINANCE The first critical decision to make in financing a mineral prospect is "when". At the exploration level, when it is only a dream in the geologist's eye, the alternatives are more limited than when it is a fully-engineered project. The "when" decision depends on how much in internal funds the company has to play with, and how desirable it is to invite financial participation to spread the risk. Assuming that decision is not taken out of lack of money, no one can categorically say when to do it. There is

Jan 1, 1985

By C. E. BOCKUSD

WHEN Mr. Bain asked me to lunch with you he requested that I say a few words as to how the Institute could be helpful to the bituminous coal industry. I feel like saying, "Thank you, what have you?" I do not want to trace in detail the story that is old already to many of you. On the other hand it does take some little stage-setting to illustrate what is the matter in the bituminous coal industry, a trouble that must some day be cured. There has been something over a century of bituminous coal production as a real business in this country. True, Joliet and Marquette discovered coal in Illinois in 1673, according to published accounts of their travels, and shortly thereafter Father Hennepin also found Illinois coal in 1689. Coal was mined near Richmond in 1750, and Richmond shipped coal to New York and Philadelphia in 1789. But it was not until 1838 that the production of bituminous coal in this country totaled a yearly output equal to the minimum for one class A mine today, for that was the first year that production exceeded 200,000 tons.

Jan 1, 1930

By AIME AIME

HEREWITH is presented a preliminary report of a special committee, consisting of Erle V. Daveler, Paul D. Merica, and C. H. Mathewson (chairman), dealing with sundry matters of which many are of vital interest to all members of the American Institute of Mining and Metallurgical Engineers. As the report states, the initial purpose of the investigation was to determine ways and means to stimulate "the welfare and growth" of the Institute of Metals and Iron and Steel Divisions. However, it soon became apparent to the committee that most of the problems and possible correctives were of no less vital concern 1o members of the other Divisions and to the "unattached" group of members. Consequently, the Committee has authorized publication of the report and invites written comment from any member on the specific recommendations or on any other phase of the broad subject.

Jan 1, 1943

Belting worth thousands of dollars can be ruined in a few minutes because of careless maintenance or lack of maintenance. Proper belt conveyor maintenance means having a clean conveyor system at all times. The belt line should be visually inspected during each shift. Equipped with proper maintenance instructions, one belt man can patrol a belt line of 2 to 3 km (1.5 to 2 miles). His duties would be to lubricate drives and idlers (except sealed-for- life type), maintain belt and conveyor frame alignment, detect sticking idlers, and maintain an unobstructed right-of-way.

Jan 3, 1978