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By Grover R. Castle

INTRODUCTION "Project Financing" or "Project Loans" have become increasingly popular in recent years, and commercial banks are being asked to consider more and more of such financing. However, the analysis of this type of loan is quite different from the analysis of a loan to a financially sound corporation based on the company's balance sheet. For this reason Chemical Bank did a study of project loans in an attempt to be more sophisticated in our approach to them. As part of this study, we examined 29 project financings for which information was available. In this article I shall describe project loans and set forth the guidelines we developed, as an aid to credit officers who might have occasion to analyse this type of financing. DEFINITION OF "PROJECT FINANCING" OR "PROJECT LOAN" The terms "project financing" and "project loan" commonly describe the various methods that banks and institutional lenders use to finance the construction of new projects on a basis whereby payout is anticipated from the revenue stream generated by the project. A project financing often involves a loan to a new entity formed specifically to own the project. The analysis of a project loan proposal is quite different from the analysis of other term-loan proposals since it involves a credit decision based on the review of a projection or forecast rather than of historical earnings and/or it involves the reliance on contractual obligations of third parties. Lenders are asked to assume the added risks associated with project loans because: 1. Project financing may permit a company to obtain additional leverage. It is possible for companies to arrange financing on a project basis that could not be arranged as a direct borrowing. For example, a company may not be permitted to borrow more money directly, due to a limitation in a bond indenture. However, a project financing can sometimes be negotiated on a basis not prohibited by the indenture. 2. Often the sponsors of, or the stockholders in, the project are seeking an off-balance-sheet financing. For example, 11 of the 29 projects in our study were arranged on an off-balance-sheet basis and one showed on the balance sheet as a deferred income item. An off-balance-sheet financing, for the purpose of this article, is a financing which does not show as a direct liability on the balance sheet of the sponsors of or stockholders in a project. 3. Projects are often located in a foreign country. The financing is arranged so that the lenders assume the political risk on the loan because many companies rightly believe that this arrangement affords a degree of insulation from political risk not otherwise obtainable. 4. Many projects are jointly owned by several sponsors. This form of financing lends itself well to a situation where a new entity is formed to own a project and do the borrowing. Project loans can be used to finance a variety of activities including development of iron-ore deposits and associated pelletizing plants; development of coal reserves; construction of pipelines, alumina plants, fertilizer plants and refineries; etc. The specific areas of analysis can be quite different, depending upon the type of project being financed. It is important, therefore, to classify the proposal according to the type of project, and also by the nature of the financing - nonrecourse financing, financing covered by a guarantee of completion and financing supported by an undertaking lasting for the life of the financing. I will discuss each of these types in more detail later, but first, I should like to make some

Jan 1, 1985

By Carle R. Hayward

This work was first undertaken in the metallurgical laboratory of the Massachusetts Institute of Technology in 1907 by L. A. Dickinson, E. Phelps, and V. S. Rood, under the author's direction. They attempted to determine the diagram for the system Cu2S-MiS, but several inexplicable results were obtained. The following year, P. H. Mayer with Mr. Dickinson carried on some experiments with nickel sulphide and found that the molten material slowly lost sulphur until it reached a composition corresponding to the compound Ni3S2, established by Bornemann.l At this point the composition remained stable. The freezing points of the mixtures gradually fell off with the loss of sulphur. Since the above facts seemed to explain the erratic results obtained in the first experiments, Mr. Mayer with F. Jaeger attempted in 1910 to establish a correct equilibrium diagram for the Cu2S-Ni3S2 series. They prepared pure Cu2S and Ni3S2 and determined the cooling curves for various mixtures. The fusions were made in a platinum resistance furnace and the temperatures were measured with a platinum-iridium thermocouple connected with a Sullivan galvanometer. The curve was established for mixtures containing more than 40 per cent. Cu2S, but they were unable to determine certainly the direction of the curve beyond that point. Nothing further was attempted with this series until the present year, when the work was carried to a successful conclusion with the assistance of A. Butts, Jr., and E. H. Weil. The results of this work are given in the following pages. Preparation of Cu2S.—A piece of cathode' copper from the Buffalo plant of the Calumet & Hecla Co. was cut into shavings by a shaper and converted into sulphide by heating in boiling sulphur. A porcelain casserole was used for the purpose, the heat being furnished by a Bunsen burner. It was found that after boiling in the sulphur for an hour the copper shavings were completely converted into sulphide. The liquid sulphur was then poured off, leaving the solid sulphide in the casserole in

Jan 1, 1915

By S. S. Clarke

THE opening of zinc-lead ore bodies in the lower chert beds of the Tri-State district, locally called sheet-ground deposits, [ ] presented several new economic operating problems to be solved before the low-grade deposits could be mined profitably. Drilling was the first high-cost problem and loading and haulage difficulties followed. At this time, the sheet-ground mines are producing about 2000 tons per day. GEOLOGY The geology and ore deposits of the Tri-State district have been covered in detail by [ ] Fowler and Lyden.* Briefly, the sheet-

Jan 1, 1942

L. C. UREn,* BerkelEy, Cal. (written discussion).—I heartily concur with Rlr. .Fobs concerning the need for advanced courses on various phases of Petroleum Engineering. I think that his criticism is probably true of most of the engineering schools that are specializing at all in Petroleum Engineering, that is, that most of their so-called graduate courses are not of graduate caliber but are merely more specialized aspects of undergraduate subjects. It would undoubtedly be to the advantage of the petroleum profession if more advanced work could be offered in a few of the leading engineering institutions so that there would be something substantial to offer graduate students wishing to return after a period of undergraduate work, for additional training. There is no doubt but that a better trained engineer, more useful to the oil industry, could be secured from schools offering such advanced training. The problem of adpting our instruction to fit the needs of engineers trained along other lines who wish, after completion of their undergraduate work, to enter thc petroleum engineering field, is a more difficult one. It has been my experience that such men are usually sadly deficient along certain lines and that they are really not prepared for the more advanced work in Petroleum Production Engineering until they have gone back over the work which they have missed in their undergraduate training. I note that Mr. Fohs suggests that other eastern and western colleges not now stressing Petrolelim Engineering, should be encouraged to take up advanced work of this character. With this, however, I cannot agree unless the institutions arc also prepared to offer a full sequence of undergraduate work on which the more advanced courses may be superimposed. Whether or not there is a need for additional engi-ncering colleges entering the petroleum engineering field is an open qucstion. I believe that we arc turning out enough petroleum engineers at the present time and that none of the six institutions now specializing in this field arc overcrowded. Morc-ovcr, they are fairly well distributed over the country, though there may be room for an additional school in the field in the eastcrn section of the United States. F. W. Padgett, Norman, Okla. (written tliscussion).—Assuming that the stnclcnt has the proper fundamentals, that is, general science and a knowledge of the technology of the industry, then the problem is: What courses should be offered from the graduate standpoint? (a) Course Work.—His knowledge of the technology of the industry can be extended advantagcously by means of one and two-hour courses, which consist in a more detailed survey of the various branches of the industry. (b) Lilerdure.—This work may, or may not, be connected directly with his research problem. The student should become familiar with methods of locating articles in the 1iterature; should also become familiar with all the important original

Jan 1, 1928

Jan 1, 1924

By R. N. Upadhyay, M. Maleki, I. Fatt

Conventional laboratory core analysis tests on samples of two limestone reservoir rocks indicate that about 20 per cent of PV is in dead-end pores. These tests (electric logging formation factor, mercury injection capillary pressure and miscible displacement) were carried out on 1/4-in. diameter test plugs. Test results show a clear dilference between these samples and sandstone or homogeneous limestone reservoir rock. Although the amount of dead-end pore space can be only roughly estimated, the presence of such pore space seems clearly indicated. Pressure transient studies also show presence of deadend PV. Although they do not give quantitative results, pressure transient data yield a reasonable estimate of the size of the neck connecting dead-end pores to the main flow channels. INTRODUCTION Equations conventionally used to describe reservoir flow behavior contain the implicit assumption that all connected pore spaces contributed to both porosity and permeability. Several authors3-7 have pointed out the changes in pressure transient behavior and in electric log interpretation that may result if this assumption is incorrect and, instead, dead-end or cul-de-sac pores are present. There is a need for laboratory tests that can detect presence of dead-end pores in core samples. With such information on hand the petroleum engineer can make more rational use of the mathematical tools now available for analysis of reservoir flow behavior. This paper describes laboratory studies designed to detect and, if possible, give a quantitative measure of dead-end PV in laboratory-size core plugs. Three reservoir rocks were used, two of which were limestones suspected of having deadend pore spaces and a well-known sandstone, used as a comparison standard, in which there is believed to be little or no dead-end pore space. All the studies were designed to measure the natural dead-end PV; i.e., the pore space which is dead-ended because of rock structure. During multiphase flow in a rock without dead-end pores, some parts of one of the phases can become surrounded by the other, thereby giving (for certain flow behavior) an effective dead-end pV8,9. Such behavior will not be described here.

Jan 1, 1967

Flexibility is the keynote in designing modern exploration drills that and mobility. Add to the flexibility of individual drills the wide range of models, and the man looking for a drill has ample choice today. Weight? Choose from models as light as 50 lb or as heavy as 10,000 lb. Hole capacity? From less than 1 in. for smallest core drills to 20 in. or more for auger types. Transportation? The lightest go by packsack (in fact, that is one trade name) ; others are designed to go by Jeep, truck, on skids or are built on light trailers. Power? Select air power, gasoline or diesel engine, electric motor, or use a power take-off from the vehicle on which the drill is mounted. Drill bits offer almost as much variety as the drilling machines themselves. Many drills are suitable for a variety of uses, and often adapt to several types of bits with ease. Some of the types available are: diamond core, diamond reaming, rotary, auger, shot, and special soil sampling tools.

Oct 1, 1955

By Courtenay de Kalb

REVISION of the United States mining law is needed. chiefly because of the following reasons: 1. The conceptions as to the characteristics of orebodies that were held at the time the statute of 1872 was enacted have since proved to be in many respects erroneous. 2. The operation of the existing law has been found to work unnecessary hardship upon many claimants to mineral land. 3. The existing statute fails in large degree to encourage development of mineral resources. 4. The existing law often produces conflict between placer and lode-claim rights, working unnecessary injustice to placer claimants. 5. The methods of establishing the rights of locators on United States mineral land are defective, and are not uniform throughout the States within which such lands exist. LAW OF THE APEX The objections to the so-called "law of the apex" are so well known as to require no detailed statement. It is sufficient to point out that the apex rule was based upon the notion that ore deposits consisted of well-formed veins included between definite walls, like the slice of ham in a sandwich. The fact is that veins conforming to that simple type are rare. Irregularity is the rule, and the chief metal production of the United States comes from masses which bear no resemblance to the tabular form of vein. Manifestly the law of the apex fails completely in such cases. Moreover, the tendency is constantly toward the exploitation of ores of lower grade than could formerly be worked, and such deposits exist mainly in the form of large irregular impregnated zones and masses, so that the future. development of our mineral resources would be continuously embarrassed by shadowy claims to extra-lateral rights by the locators of so-called apexes

Jan 2, 1915

By C. Schlumberger, M. Schlumberger

The object of this paper is to clarify the idea, so important when exploring by potential methods, of the depth of investigation attainable by electrical measurements. After defining, with some precision, .the term "depth of investigation'' in geophysics, the authors show how it is possible to regulate this depth in potential methods and to obtain an 'electrical drilling" from surface observations. They consider also the difficulties encountered in deep measurements and indicate how it is possible to reach greater depths than those having an industrial interest. Depth of Investigation The term, depth of investigation, in its general sense, is easily understood. For instance, a driller who can pull cores from a depth of 2000 m. is capable of working, with accuracy, to that depth. By means of a properly placed drill, he may locate an orebody at a depth of 1999 m., however small this orebody may be. On the contrary, the term as used in geophysics requires precise elaboration. As a matter of fact, no geophysical method, irrespective of the physical property studied (density, magnetic permeability, conductivity), can discover a very small body at a great depth because, in practice, the physical parameter upon which such a geophysical method is based is never regular enough, throughout the ground, to distinguish the feeble anomaly caused by the small, deep-lying body from the numerous anomalies due to irregularities of the encasing terrains. Aside from this question of the ratio between the size of the body being hunted for and its depth of burial, a second factor plays its role in the possible depth of investigation; that is the difference, for the parameter under consideration, between the body and its surrounding material. The greater this difference, and the more homogeneous the encasing terrains, the greater is the possible depth of investigation. This being generally established for all geophysical methods, it is possible to distinguish two main classes of these methods, from this same point of view

Jan 1, 1932

By Edward Walsh

In the early history of the production of metallic iron from the native oxides or ores, success attended the labors of the workman according to the care he devoted to his work, and according to the degree of skill he possessed in furnishing the required amounts of fuel and ores to be acted upon by the blast propelled by the bellows, trompe, or wooden tub, and delivered into the hearths of the Persian, bloomery, or Catalan forges. The same skill may also have been of avail in the use of the lower forms of the ".Stück," "Blue,"or" Wolf"

Jan 1, 1887

By Dennis A. Clark, Brent Larsson

Tunnelling today is a lot more than drilling and blasting. The developments in drilling and blasting technique have made it pos¬sible to save costs both by increasing the advance per round and optimizing the demands on the final contour. Increasing the hole depth by using longer feeds and bigger dril¬ling rigs make the drilling time shorter compared to the set up time. It is important that the deeper holes are followed up by using a suitable cut. The most common cut in Sweden today is a parallel hole cut with one or more large holes; with a diameter corresponding to the hole depth and wanted advance per round. It is often specified that smooth blasting is to be carried out with a specific drill hole spacing. It is extremely rare, however, for specifications to be issued concerning the alignment of the raw of holes closest to the contour holes. It is very easy to ruin the effect of smooth blasting altogether by firing the rest of the round carelessly with an excessively high charge distribution. The drilling and blasting of the contour holes and the line of holes closest to the contour holes is therefore an extremely important part of any underground work. Accuracy and care in connection with the drilling of contour holes is also extremely important since it is possible to reduce the amount of overbreak, the result being more rapid mucking out, smoother and more durable surfaces and also less consumption of concrete for lining purposes.

Jan 1, 1983

By A. J. Ardell, O. D. Sherby

The elevated-temperature steady-state creep behavior of polycrystalline a Zr was studied in vacuo under constant tensile stress. The experiments were conducted from 660° to 845°C over the stress range 870 to 5400 psi. The steady-state creep rate, is, of a Zr was found to be related to the applied stress, a, and temperature, T, by the equation where C is a constant. Two interpretations of the data are considered, each requiring different values of the parameters ß, Q, and . It is shown that this formula can be derived using Gilman's phenomeno logical equation relating dislocation velocity to the shear stress for the case where dislocation mobility is limited by the nucleation of kink motion. From the fundamental dependence of strain rate on dislocation velocity and the density of mobile dislocations, the factor exp(ßo) can be related to the stress dependence of the dislocation density, and Q to the energy of kink formation. The two interpretations considered are as follows: Case I—the parameters are adjusted so that the equation above describes the data over the entire range of stress and temperature, implying that creep is controlled exclusively by dislocation glide; Case IIthe parameters are adjusted to allow for the possibility that creep is diffusion-controlled at high stresses but glide-controlled at low stresses. For both cases the values of the parameters are within the spread permitted by the data. Factors favorable to the observation of the unusual stress -dependence of i, for a Zr are discussed and it is shown that the anomalously rapid rates of self-diffusion and the low modulus on the principal glide system are primarily responsible for the anomalous creep behavior. Metal-lograflhic observations are presented and discussed with reference to the overall creep behavior. PREVIOUS investigations of the creep behavior of a Zr have been conducted from room temperature to about 500C The results of these investigations are primarily of engineering significance because of the variety of conditions under which they were carried out, and the low testing temperatures employed. Little information is available concerning the fundamental nature of the elevated-temperature creep behavior of a Zr. This investigation of the creep behavior of a Zr above half the melting temperature (the melting temperature, T,, of a Zr is estimated to be about 1860"K was initiated because there are two significant anomalies of the physical properties of a Zr: a) the rate of self-diffusion in polycrystalline a Zr is anomalously rapid: b) both Young's modulus for polycrystalline a Zr and the shear modylus as-sociated with the prismatic slip system { 1010)( 1120) (the principal slip system in a Zr 7) have anomalously large temperature variations The importance of these quantities to the understanding of creep behavior has been demonstrated, and it was hoped that this investigation would provide a critical test of the predictions based upon the analysis of creep data for other pure metals. However, as the investigation progressed it became increasingly clear that the unusual creep behavior of a Zr could not be analyzed in a conventional manner. 1) EXPERIMENTAL EQUIPMENT AND PROCEDURES Two grades of zirconium, designated A and B, were used in this investigation. The analyses, as supplied by the vendors, are presented in Table I. Material A, with a nominal purity of 99.84 pct, was supplied by the Wah Chang Corp. in the form of cold-rolled sheet from which specimens were machined without further fabrication. Material B, with a nominal purity of 99.95 pct, was purchased from the Nuclear Materials and Equipment Corp. in the form of iodide crystal bar.

Jan 1, 1968

By L. S. Darken

IT has been known for sometime that in an ionic lattice, such as that of Ag2S or FeO, the migration velocity of the anion may differ markedly from that of the cation, the cation being usually the more mobile. It has been shown, for example, that during the formation of silver sulfide tarnish on silver, the tarnish layer grows principally by the motion of silver cations through an essentially stationary silver sulfide lattice. Similarly, the growth of wüstite scale on iron proceeds principally by motion of iron ions, this being accomplished with the aid of vacant iron lattice sites into which the iron may readily move. Likewise investigations of solid solutions of various salts show that there is usually considerable difference in the mobility of the different cations. Measurements of the mobility of various metals in liquid mercury indicate that the various metals move at different rates relative to the mercury. In view of the foregoing it seems reasonable to suppose that when any single phase solution is acted upon by a field, the atoms of different elements respond in different ways; in particular, that the force arising from a particular concentration gradient in a binary alloy would cause the atoms of one component to move with a drift velocity which is in general different from that of the atoms of the other component. The recent experiments of Smigelskas and Kirkendall1 support this viewpoint, since they found, in essence, that during diffusion in alpha brass zinc moves appreciably faster than copper. This was evidenced by the relative motion of inert molybdenum wires. Such a phenomenon is incompatible with the place interchange theory of diffusion proposed by several authors, most recently by Birchenall and Mehl.2 This theory has, however, also been questioned3.4 for other reasons, principally because of the high energy required for direct atomic interchange. The rather large difference between self-diffusivity, as determined by tracer technique, and mutual diffusivity, as determined with the aid of another element at low concentration, might also be interpreted as favoring the above idea; however, Birchenall and Mehl have pointed out that there is another possible interpretation of this difference; this is discussed later. A rather interesting and pertinent observation was made by Schwartz,5 who noticed that tungsten lamp filaments, heated by direct current, commonly fail by necking down in the region at the temperature gradient near the positive end, with a concomitant swelling at the corresponding position near the negative end. He introduces considerable auxiliary evidence to show that this phenomenon is occasioned by the motion of tungsten cations which migrate in the high temperature region from the positive end toward the negative end. The mechanism of this migration is not clearly understood. If, however, this experimental evidence be accepted, we are forced to conclude that alloying elements in the tungsten may migrate by the same or a similar mechanism, whatever it may be, at a greater or lesser rate, thus giving rise

Jan 1, 1948

By R. Ebeling, M. F. Ashby

The paper is in two parts. The first develops the formulae and method needed to calculate the size, nu)nber, spacing, and volume fraction of hard or inert particles in the interior of a specimen from measurernents made on an extraction replica; throughout, the spread of- particle sizes in a single specimen is taken into account, and the extraction efficiency of the replica is considered. A method for testing whether the particles are randotnly distributed in space is described, and the spacing of randomly distributed particles is discussed. The second Part describes the application of the method to copper containing spherical particles of silica; the description includes an estimate of the errors involved, and a comparison of this with alternative methods. All parameters except uolume fraction can be determined satisfactorily, and the method offers advantages over other electron-,rzicroscopic techniques when dealing with hard particles in a softer matrix, or inert particles in a chem-ically less inert matrix. 1 HE experimental measurement of sizes and numbers of discrete particles of a second phase embedded in a matrix material from opaque, plane sections has been considered by many authors, notably by Fullman.' It is assumed that, when the specimen is sectioned, the particles are also sectioned, so that the diameters of the circles of intersection of particles with the plane of the cross section ("surface diameters") are measured. It is difficult to derive the distribution of true particle diameters ("volume diameters") from measurements of the distribution of "surface diameters" on a plane section. The measurement of size and numbers of small second-phase particles by transmission electron microscopy through thin foils of matrix containing the particles has been described by Cahn and ~uttin~' and by ~illiard.~ Because of overlap and the fact that particles which intersect the foil surface may be sectioned whereas those in the bulk of the foil are not, it is again difficult to measure the true distribution of particle sizes. The use of replicas for this sort of measurement has not been analyzed in detail. A replica made from an opaque cross section, thus replicating the circles of intersection of particles with the plane of section, is analyzed by Fullman's method and suffers from the same difficulties. Under certain circumstances, however, extraction replicas can be used, and offer a special advantage in that they make the determination of the true distribution of particle diameters particularly simple. It is the purpose of this paper to describe this extraction replica method. Consider the example of an alloy consisting of SiOz particles, whose mean diameter is about 1000A, dispersed in a copper matrix. When the alloy is sectioned and mechanically polished, the particles are not sectioned, because they are much harder than the matrix, and so will be either left in the surface or pulled out whole, and because the particle size is smaller than the abrasive size of even the finest abrasive. The particles are chemically inert in solutions which chemically etch or electropolish the matrix, so that chemical treatments do not section the particles either. (Experimental measurements of particle shape in this alloy confirm this—truncated particles are never seen.) Small, hard or inert, particles are therefore not sectioned when the specimen is sectioned and polished. An extraction replica taken from this polished surface shows the true "volume" diameter of each extracted particle; the distribution of diameters seen on the replica is the surface distribution of true "volume" diameters, and the volume distribution of true "volume" diameters is easily derived from it. The extraction replica method is not subject to the difficulties associated with sectioning of particles, and avoids the problem of overlap from which the transmission method suffers. The method is well-suited for studying hard particles in a soft matrix. Examples are provided by internally oxidized alloys, oxide-dispersion strengthened metals like T.D. Nickel, and carbides, nitrides, and strong intermetallic compounds in metals. It should be possible to adapt polishing techniques in alloys containing softer but inert particles to avoid sectioning the particles (say by electropolishing or etching). The method is tested and illustrated in Sections 8 and 9 by applying it to a dispersion of spherical SiO2 particles in a copper matrix. I) SYMBOLS Symbols are defined where they first appear in the text. Volume fractions of particles are denoted by the symbol f, particle diameters by x, center-to-center particle spacings by D, and numbers of particles by N. Mean particle diameters and standard deviations about these means are denoted by x and a. Both arithmetic (subscript A) and geometric (subscript G) means are employed. In this paper we measure the distribution of true diameters of particles which touch or pass through a random-plane section of the specimen. We may want to know the distribution of particle diameters in the

Jan 1, 1967

By S. L. Hoyt

The writer has long been interested in seeking an explanation of the upper heat effect in the copper-tin alloys over the a + b range, first described in 1913. These notes are offered, not at all as the final explanation 'of this heat effect, but rather to indicate certain progress which has been made toward establishing what happens over this temperature interval. While working on the thermal analysis of the copper-rich kalchoids (copper-tin-zinc alloys), it was noted that those alloys containing major portions of tin and minor portions of zinc exhibited two marked heat effects, one at about 520' C. and the other at about 600" C., instead of the single effect which is generally observed in either of the two binary series. This matter was discussed with Dr. Guertler, who suggested that a heat effect at about 600" C. in the pure copper-tin alloys might be expected. This led to a more searching examination of the thermal critical points in the pure copper-tin alloys, with the result that a marked, although somewhat weak, heat effect was located at about 600. Somewhat later, this upper heat effect was discussed with Dr. Burgess, and it was requested that the Bureau of Standards make heating and cooling curves of one of these alloys for the purpose of removing any possible doubt as to the actual presence of the heat effect. Results obtained by the Bureau are given in Plate I. In an earlier paper1 differential curves were published showing that the heat effect occurred at constant temperature over the a + B range and increased in magnitude with the amount of B up to a point somewhat above 20 per cent. tin. No heat effect was noticed at this temperature in the eutectoid alloy. The existence of this heat effect seems to require a modification of the present copper-tin diagram in the a + B field, and it has been the object of the work here presented to secure the evidence upon which such a change should be based.

Jan 1, 1919

By W. Spencer Hutchinson

The experiments described in this paper were undertaken primarily for the purpose of measuring the quality of work done in screening and sorting in American concentrating-mills for Prof. Richards' work on Ore-Dressiag. For this purpose a series of samples of screened and sorted products was obtained from four different mills, and a plan was devised for sizing these products, and for tabular and graphic representation of the results. The results, together with discussions as to their significance, so far as they serve to interpret the quality of mill-work, have already been published in the above-mentioned work, and it is not the purpose of this paper to duplicate the work, except so far as is necessary to explain and illustrate methods and appliances. The sizing of coarse products was clone by sifting on screens of sheet-metal with round punched holes. These holes ranged in size from 64 mm. to 0.5 mm. in diameter. Below the smaller limit, punched metal, suitable for this work, was not obtainable, and the sizing was carried on by sifting on woven wire-sieves. The finest woven wire-cloth obtainable gave a hole 0.073 mm. square, and the finest silk bolting-cloth pave a pentagonal hole with an average diameter of 0.069 mm. Even these very fine screens served no useful purpose in sifting certain of the very fine classifier-products, of which all, or nearly all, passed through the finest screen. A new adaptation of a method of settling and decantation with water in beakers was therefore worked out, and by this means the sizing mas carried down to grains of a diameter as small as 0.012 mm. Description of Apparatus and Manipu1ntion.—Sieves of sheet-metal with round punched holes were used as far as practicable, chiefly because, as already explained, the primary object of the experiments was to test mill-work, and the mills had all used

Jan 1, 1905

By C. R. Ramachandra, C. C. Patel

Flotation of chalcopyrite from a low grade ore was studied by using different xanthates and dixanthogens as collectors and by conditioning the flotation pulp with oxidizing gaseous systems. The improvement in the recovery of chalcopyrite with the oxidizing systems was mainly due to the auto-activation of chalcopyrite, leading to the enhanced adsorption of xanthates and dixanthogens even when the latter were formed by oxidation of the xanthates. With air or oxygen as oxidizing system, the amount of ethyl xanthate required at pH 8.5 was much less than normally employed in the industry, the recovery being 97-99% of chalcopyrite with a concentrate of 24% copper. With isopropyl and isoamyl xanthates, the recovery was improved but the grade was lowered. By conditioning the pulp with air-CO2 or oxygen-CO2 mixture, the recovery was lowered with ethyl xanthate only, mainly due to the depressant action of bicarbonate formed. Flotation with dixanthogens gave cleaner concentrates of chalcopyrite. because iron pyrite did not float with these collectors. Of the dixanthogens tried, diisopropyl dixanthogen gave the highest recovery, 99% chalcopyrite with a concentrate containing 28.5 to 30% copper, when the pulp at pH 8.5 was condi-tioned with air. Isopropyl dixanthogen was found to be the best collector of all the xanthates and dixanthogens studied. It was found that the adsorbed ethyl, isopropyl and isoamyl xanthates at chalcopyrite surface, activated by cupric sulfate, and at iron pyrite surface were oxidized to the corresponding dixanthogens to different degrees in presence of air, oxygen, air-carbon dioxide mixture and oxygen-carbon dioxide mixture.' The dixanthogen formed at chalcopyrite surface was, however, firmly adsorbed while that at iron pyrite surface was easily desorbed. Since dixanthogens formed have greater hydrophobicity than the corresponding xanthates, as revealed by contact angles,1,2 the former were expected to improve the flotation results. It was, therefore, thought desirable to find out the effect of air, oxygen, air-carbon dioxide mixture and oxygen-carbon dioxide mixture on the selective flotation of chalcopyrite when individual xanthates were used as collectors. The effect of direct use of dixanthogens as collectors on the selective flotation of chalcopyrite was also investigated. For these studies, low grade chalcopyrite ore, received from the Indian Copper Corp., Ltd. (I.C.C.), Ghatsila, Bihar, was employed. At the milling plant of the I.C.C., chalcopyrite is floated at a pH of 8.5, employing ethyl xanthate as collector. EXPERIMENTAL Materials Employed: XANTHATES - Ethyl, isopropyl and isoamyl xanthates of potassium were prepared in a pure state by the methods described earlier.4 A 0.03% aqueous solution of a xanthate was freshly prepared in air-free distilled water for flotation studies. DIXANTHOGENS - Diethyl, diisopropyl and diisoamyl dixanthogens were prepared by the oxidation of xanthates by iodine and purified by extraction with petroleum ether. A 0.03% alcoholic solution of dixanthogen was used as a collector. FROTHER - A 0.2% solution of pine oil in ethyl alcohol was employed. SODIUM CARBONATE - A 0.4 N solution was used. ORE - The composition of the -100 +200-mesh size (Tyler standard) powdered ore, as determined by standard methods of analysis, was: copper 1.57%, iron 10.29%, sulfur 3.15% and acid insolubles 66.10%. Iron present as chalcopyrite (CuFeS2) was 1.38%, while that present as iron pyrite (FeS,) was 1.37%. Both chalcopyrite and iron pyrite were found to be liberated from the gangue minerals and from each other, as observed under a microscope. Flotation of Chalcopyrite with Xanthates in Presence of Different Gaseous Systems: Fifteen grams of -100 + 200-mesh size ore were shaken well with 100 ml of distilled water. The pH of the pulp was adjusted to 8.5 by the addition of sodium carbonate solution. Then 0.1 ml of xanthate solution (0.005 lb xanthate per ton of the ore) was mixed with the pulp, and the latter together with washings transferred to a

Jan 1, 1963

By Allen L. Hatch

A survey of all phases of the world's lead and zinc production in 1968 from ore through to refined metal was conducted by sending questionnaires to individual companies and the results of this survey are tabulated at the end of the paper. The paper goes on to review changes in the geographical distribution of the world's lead and zinc mine and metal production and in the trading patterns of raw materials, present and future utilization of metal production capacity, developments in metal smelting and refining processes and the growing importance of marketing, product development and research in the 1950's and 1960's.

Jan 1, 1970

By Karl S. Kurtenacker

In attempting to find a rapid and economical means for solving many of the subsurface problems that confront the highway engineer, the author for the past two years has utilized a Megger Ground Tester on resistivity surveys in conjunction with highway construction. Electrical surveys in connection with highway work are largely shallow depth surveys, thus differing from most other types of resistivity work. Consequently, the readings are affected by a great many qualifying factors such as the density and moisture content of the media under observation and the amount of weathering and leaching. In most cases the surface layer is decidedly heterogeneous in character, and, because of the great number of side hill cuts, the second layer, which in most cases is rock overlain by some sort of surface soil, silt, or debris, seldom lies in a horizontal position. Shallow strata, lacking homogeneity and not lying in a horizontal position, do not lend themselves readily to accurate theoretical interpretations, therefore the author has used empirical rules to a large extent in interpreting depth soundings. The following empirical rules of interpretation are surprisingly adequate for highway work, since much of the work is in the nature of reconnaissance surveying and the results are construed to be approximations. The writer is careful not to risk interpretation on some special feature of the curve, since such features are usually due to random errors or lack of homogeneity among the subsurface strata. Effect of Surface Medium A resistivity depth sounding taken to a depth of 200 or 300 ft. is not much affected by superficial conditions, but these conditions have a great effect in depth soundings to 25 or 30 ft. In shallow soundings the character of the surface medium has a very marked effect on the entire resistivity graph. Fig. 1 illustrates a very striking example. Graphs A and B are depth soundings taken in approximately the same place. The surface stratum is a clay loam but at the place where graph B was taken

Jan 1, 1934