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By James Terry Duce

In order to facilitate interpretation of the data in this chapter, we print the following excerpts from circulars to authors, compiled by Mr. Frank A. Herald when he was Vice-chairman for Production of the Petroleum Division, and revised in 1939. Generally in Table 1 the unit for prescntation of data is a field. For our purposes a field is defined as the whole of a surface area wherein productive locations are continuous. Such unit commonly includes and surrounds nonproductive areas. Such unit commonly includes a great variety of geologic conditions—several units of continuous productive reservoirs of distinctly different structure and of distinctly different stratigraphy. Therefore it is hoped that our authors will subdivide "field" so as to enable students to make analyses that may have scientific and /or commercial value. As to each spacc in the tabulation, it is citller (1) not applicable, (2) the proper entry is not determinable, (3) the proper entry is determinable, but not determinable from data available to the author, (4) the proper entry is determinable by the author. In spaces not applicable, the author will please draw horizontal lines; in spaces where the proper entries are not determinable, the author will please insert x; in spaces where the proper entries are detcrminable but not detcrminable from data available to the author, the author will please insert y; in spaces where the proper entries are determinable by the author he will, of course, make such entries. Generally, y implies a hope that in some future year a definite figure will be available. Inability to determine precisely the correct entry for a particular space should not lead the author to insert merely y. Contributions of great value may be made by the author in many cases where entries arc not subject to precise determination. In such rases the author should use his good judgment and make the best entry possible under the circumstances. For many spaces, the correct entries represent the opinion of the author (for example, "Area Proved") and in such cases the entries need not be hedged to such extent as in cases where the quantities are definite yet can be ascertained only approximately by the author. In cases under definite headings but where figures are only approximate, the author may use x. For example, if the total production of a field is known to be between 1,800,000 and 1,850,000, the author may report 1,8xx,xxx; or if the production is between 1,850,000 and 1,900,000, the author may report 1,9xx,xxx. Where a numeral is immediately to the left of x or y, such numeral represents the nearest known number in that position. As to quantity of gas produced from many fields the question will arise as to whether the figures should include merely the gas marketed or should include also estimates of gas used in operations and gas wasted. Although rough approximations

Jan 1, 1939

By Dennis Peterson

INTRODUCTION The business arena has dramatically changed for most producers and consumers of commodities. International debt, currency shortages, political upheavals, etc., require corporations today to be sophisticated and flexible enough to change their purchasing and sales techniques in order to maximize returns. Many external factors, such as interest rates, trading partners, currency changes, and government edicts, can have an adverse effect on a company's bottom line. Totally out of a company's ability to control or predict, these. factors force the commodities based corporation to constantly re-evaluate its operating scope and domain. The principle of back-yard only operations and the laissez-faire with blinders style of management is no longer a viable way to run a business. The industrial world has been operating for the past 10 to 15 years as though there were no commodity nor raw material crisis. For developed countries the primary products sector has become marginal, whereas it was central in the first half of the century. A radical change in the method of doing business is necessary to offset a depression in the industrial economy. The risk of collapse may be heightened by a banking crisis caused by massive defaults on the part of commodity producing debtors, whether in the third world or in our own farm producing sector. The raw materials economy has become divergent with the industrial economy. This is a major change in the world economy with tremendous implications in both developed and developing countries for economic and social policies and economic theories. Basic competition issues, such as low labor costs, are likely to become less of an advantage in international trade. In developed countries these costs are going to account for a smaller portion of total costs. The total costs of automated processes are lower than those of traditional plants with low labor costs. Automation in the commodities sector eliminates the hidden but high cost of not processing at capacity created by poor quality, rejects and maintenance for product change-overs. The cost of capital will become increasingly important in international competition. Over the last ten years the U.S. has become the highest cost country in this area. Reversing the U.S. policy of high interest rates and costly equity capital should be a priority for management decision makers. In the rapid industrialization of this century, Japan developed by exporting raw materials, (principally, silk and tea), at steadily increasing prices. Germany developed by leap frogging into the high-tech industries, mainly in electricity, chemicals and optics. The United States did both. Both avenues are blocked for today's rapidly industrializing countries because (a) the deterioration of the terms of trade for primary products, and (b) it requires an infrastructure of knowledge and education far beyond the scope of a poor country. Many explanations exist for the explosion of international money flows. The shift from fixed to floating exchange rates in 1971 may have given initial impetus by inviting currency speculation. The surge in liquid funds flowing to petroleum producers after the oil shocks of 1973 and 1979 was definitely a major cause. There can be little doubt that the U.S. government deficit also played a big role. The American budget deficit has become a massive void, sucking in liquid funds from all over the world and making the U.S. the world's major debtor country. In reality, a trade and payments deficit is actually a loan from the seller of goods and services to the buyer, that is, to the U.S. From now on, the global ramifications of business will have to be treated in economic theory and business policy alike. Economic theory teaches that the comparative advantage factors of a real economy determines operative and financial policy. These comparisons -- labor costs, productivity, raw materials cost, energy costs,

Jan 1, 1990

By Peter N. Calder

This paper deals with the reinforcement of igneous rock slopes at three open pit iron ore trines in northern Canada. The pits involved utilize overall slope angles in excess of 60º with ultimate depths in the order of 250 m. Three case studies are described. The first concerns the reinforcement of a 300,000 Ton undercut rock wedge, approximately 70 m in height. This was accomplished using 20 cm diameter steel bales, installed in 25 cm diameter vertical holes, and a cement-sand grout. The second involves the reinforcement of a 40 m wide diabase dyke which had been continuously failing as the pit deepened. A unique form of rock reinforcement was used in that the entire mass of the undercut dyke was not pinned to the wall. Rather an interlocking effect between individual blocks within the dyke was relied upon. A third concerns the reinforcement of a berm which was undercut by the contact between the ore and waste. This reinforcement was also accomplished using a combination of steel bales, rods and cement grout.

Jan 1, 1982

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Jan 1, 1914

By C. Richard Tinsley

INTRODUCTION Documentary complications arise from the risk apportionment in project financing which generally means that once the project is up and running and has satisfied the lender's completion test, the loan agreement specifically limits the lender's recourse to the project and its assets. It is the purpose of this paper to describe the special considerations which apply to industrial minerals projects and explore the reasons why so few project financings are negotiated in this industry. SIZE Small projects do not warrant the relatively high costs of negotiating and documenting project financing. The extent of the documentation is directly proportionate to either (a) the degree of risk apportionment, or (b) the amount of control given to lawyers to negotiate the documents. Although one would like to believe that project-finance documentation could be off-the-shelf, it is almost always necessary to tailor the documents to the mine development itself and the individual desires of the borrower. Accordingly, the documentation costs and initial expenses are seldom less than $40,000, and for complex projects can reach $400,000. In addition, banks often charge an up-front fee to partly compensate them for their staff time and partly to increase their yield on what is deemed to be a "riskier" loan asset. Another factor is the generally lower debt:equity ratio when bankers are uncertain of the accuracy of the cash flow projections. The ratio of the amount of cash flow left over after debt service to debt service itself is a key tool for project finance (debt service coverage). Bankers will require a higher coverage ratio for industrial minerals projects because of the relatively higher uncertainties in the following categories: Prices Markets Geology/Quality Transportation Environmental This, in turn, means that lower debt:equity ratios are the norm for new industrial minerals projects. INDUSTRY STRUCTURE It is hardly worthwhile to generalise about a field as diverse as industrial minerals, but there are four other structural reasons why project financing has not been widely applied. 1. The most obvious example is the predominance of small-sized operations, largely a function of transportation economics. Geological conditions also contribute to their dispersion. 2. Often, the product is only a small part of a company's business in contrast to many petroleum, metals, or coal companies whose sole business is the production of the raw material. The construction industry is a good example here for cement, gypsum, crushed stone, sand and gravel, and the drilling-mud services business for barite and bentonite. A company is unlikely to jeopardise its main business through the failure of a project financing on one of its key inputs. The corrollary is that the mined input is often regarded as a cost centre and not run on the sort of economic basis suitable for project financing. 3. There may be a reluctance to reveal key aspects of an industrial minerals venture to an outsider for purely competitive reasons. Unlike the other minerals industries which readily share technical information at plant visits and

Jan 1, 1985

By J. L. Lytton, T. E. Tietz

UNALLOYED arc-cast molybdenum sheet is typically supplied in the cold-rolled and stress-relieved condition, hereinafter denoted CRSR. Such processing eliminates the yield-point phe-

Jan 1, 1964

By R. S. McClellan

In order to meet the ever-increasing demand by consumers for uniformity of ground talc, a new method of blending its finished product has been developed by Gouverneur Talc Company, Inc., at its plant near Gouverneur, N. Y. The method has been in use for a sufficient length of time to be now judged a success. The Gouverneur district is the leading talc producing area of the world, inasmuch as more tonnage is produced there than from any other state in the U.S. or, so far as is known, from any other locality in the world. Almost all of the output goes into industrial uses, with ceramics and paint being the principal consuming industries. The physical and chemical specifications imposed by these industries are stringent and the trend, as in most industries, is toward ever increasing severity. The blending method described herein has aided Gouverneur Talc to keep up with this trend.

Jan 3, 1961

Recognizing the fact that the problems of the committee named by the Board to prepare the "official ticket" for officers and Directors of the Institute are various and difficult; and desiring to assist this committee by setting forth some of the principles that should guide the committee and some of the qualifications that should be required of candidates, the following instructions are formulated and the Secretary is directed to publish them in MINING AND METALLURGY concurrently with the publication of the names of each newly appointed Nominating Committee and to send a copy to each member of the Committee.

Jan 1, 1946

By K. B. McQuillin

The increasing volume of data produced by the Anglo American Corporation of South Africa, Limited, during the course of coal exploration prompted the establishment of a computer based processing system for coal data. This system, known as the Coal Mine Evaluation System, consists of geological, mine planning and financial evaluation sub-systems. This paper describes the use of the geological sub-system in assessing the surface mine potential of a portion of the Witbank Coalfield, South Africa, in which more than one thousand core boreholes have been drilled to date.

Jan 1, 1977

By David LeCount Evans

Not only E. B. Mayo but also W. C. Lacy, who apparently urged the preparation of this analysis, is to be commended. Regional thinking of this type is needed to assure future success in the never-ending search for new mineralized and petroliferous districts. As is usually the case, here is a regional study that will be read by the mining geologist alone. It is ironic that several of the trends established in this study have suggested themselves in northern mid-continent, detailed, and regional studies. These, where established, have offered new keys to petroleum exploration and have provided a possible basis for unraveling a number of broad generalities. The oil geologists, active in Colorado, Kansas, and Oklahoma, would find much food for thought in Mr. Mayo's projections.

Jan 6, 1959

By E. J. Haug, M. M. Fine

For several years work has been carried on by the U.S. Bureau of Mines at Rolla, Mo., to develop improved methods of concentrating the oxidized ores of lead and zinc. Various samples have been investigated, and results on some have been published. Details of the progress to date are given in a mineral dressing study now being conducted for an extensive oxidized lead-bearing tract in southeast Missouri, property of St. Joseph Lead Co. These oxidized ores present problems typical of many encountered in modern mineral dressing research in that recovery of very fine particles is of

Jan 4, 1955

William Kelly, Vulcan, Mich.:—In the northern part of Bedford county, Pa., the county immediately south of Huntingdon, the Clinton measures appear along the eastern slope of Tussey mountain near its base. The only iron-ore bed that has been worked is in the upper part of the formation. Along the mountain this seam has a dip of more than 60°. At the outcrop the ore is soft and rich, but with depth it passes often abruptly into an almost pure limestone similar to that described by Dr. Rutledge. The soft ore extends deeper in the cross-gullies than it does under the higher gound between the depressions. The slates adjoining the rich ore have been weathered, but where in juxtaposition to lean ore and limestone they are hard. The alteration of the ore-bed is evidently the result of the conditions of drainage in quite recent geo-

Jan 1, 1910

By AIME AIME

Council may deal with any matter of general interest, for which joint action of two or more of its member societies would have been appropriate, if Council had not been established. Council may initiate and carry through projects of the general character defined in the By-Laws, for which the necessary financial provision has been made. Council may take up, and in its discretion act upon, any matter of general interest referred to it by any member society or by any other society, national, state or local, or by any branch of Government, or by any individual or group of individuals.

Jan 1, 1920

By O. C. Wheeler

There was an increased amount of activity in the oil business in Colombia during 1934 over that of the past several years in point of production, development and exploration. The Tropical Oil Co. continued to be the only company operating on what may be called a commercial basis, although the Gulf, through its subsidiary, the Colombian Petroleum Co., was actively engaged in exploratory and developmental work on its Barco property in eastern Colombia. The Socony Vacuum interests acquired an option from Sr. Luciano Restrepo on a concession in Las Monas-Sogamoso River area and carried out geological investigations on these lands during the year. Colombian Petroleum Company The activities of the Gulf in exploration and development in Colombia during 1934 were confined to the Barco concession. The following information is furnished through the kindness of Mr. E. S. Bleecker, Chief Geologist of the South America Gulf Company. Two strings of tools were kept in operation throughout the year on the Petrolca (Tarra) structure. Three wells were completed, including one deep test, all of which were producers from one or more of the three zones which have been defined in the Lower Cretaccous limestone formation. On the Rio de Oro structure, some 45 miles northwest of Petrolea, a complete camp has been established on the Catatumbo River, about

Jan 1, 1935

By Dr. T

THE application of electricity in the extraction of metals has hithcrto been chiefly confined to the electrolysis of dissolved or fused compounds of these by varios methods. The power of electric currents to generate intense heat in their passage through a resisting medium has, however, long been known, and the late W. Siemens thereby succeeded in fusing considerable quantities of steel. But it was reserved to Messrs. Eugene 11. and Alfred H. CoWles, of Cleveland, Ohio, to take a new step in the metallurgic art by maKing the heat thus produced a means of reducing in the presence of carbon the oxides not only of the alkaline metals, but of calcium, magnesium, manganese, aluminium, silicon, and boron, with an ease that permits the production of these elements and their alloys with copper and other metals 011 a commercial scale. In the apparatus devised and now employed by the Messrs. Cowles, a column of fragments of well-calcined charcoal, so prepared and arranged as to present the requisite electrical resistance, is imbedded horizontally in finely pulverized charcoal, and covered by a layer of the same material coarsely broken, the whole being arranged in a box of fire-brick, covered with perforated tiles and opened at the ends to admit two carbon electrodes an inch and a half in diameter.

Jan 1, 1886

D. C. JACKLING, the father of the porphyry coppers, has been honored for his pioneering in that field. There is another facet to Mr. Jackling's activities, one which now may prove an even greater monument than the big coppers-the story of his venture in taconite beneficiation. The essence of his porphyry development was mass handling of material. Not alone mining on a large scale, which was done on the Mesabi Range at the turn of the century, but the integration on a previously unknown scope of mining, milling, concentration, and in many cases, of final reduction to metal at the site. This was mass production applied to mining, treatment of a very low grade source material, previously considered submarginal.

Jan 1, 1954

Albin, B. R. Billings, Mont. 28 Amster, Nathan L 25 Broad St., New York, N. Y. '28 Bache, Jules S. 42 Broadway, New York, N. Y. 28 Barrett, C. P. 5338 Harper Ave., Chicago, 111. '28 Baum, Frank G., Cons. Hydro-Electric Engr Cassel, Shasta Co., Cal. '28 Bayless, William S. Russ Bldg., San Francisco, Cal. '28 Bean, Louis H.60 E. 42nd St., New York, N. Y. '28 Beatty, Roes J. 1105 First National Bank Bldg., Chicago, Ill. '28 Benwell, Oswald F. Hold Mags. '28 Beymer, Albert S., V.P., Keystone National Bank Pittsburgh, Pa. '28 Blumenthal, Hugo 44 Pine St., New York, N. Y. '28 Boettcher, Charles Ideal Cement Bldg., Denver, Colo. '28 Bowlus, Thomas H. Iola, Kan. '28 Brown, Colvin B. Chamber of Commerce, Washington, D. C. '28 Bart, Maxwell Struthers Southern Pines, N. C. '28

Jan 1, 1932