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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 Stanley Herold

AT THE present time five localities in the Argentine Republic are known to bear direct evidences of the presence, of petroleum. The segregation of these localities is more or less arbitrary inasmuch as minor indications may be found to extend from one locality to the other at no regular distance apart, especially in the northern and western part of the republic. These localities are listed as follows: North Argentine-Bolivian region, Salta-Jujuy district, provinces of Mendoza and Neuquen, Comodoro Rivadavia, and the Gallegos-Punta Arenas region. Economic conditions attract us to the possibilities of developing these and other regions of countries in the southern hemisphere. Development work will, naturally, be undertaken first in such localities as present direct manifestations of the presence of petroleum; "hidden fields" may exist, but, unless discovered by accident, their development will be left to the last. The problems to be solved in the development of the petroleum resources of the Argentine republic are mainly of stratigraphy, structure, and transportation. We are not here concerned with the unfavorable climate of the countries to the north in the tropics where, for us of the "far north," life hangs by a thread ready to be severed by a mosquito, gnat, or tropical germ.

Jan 2, 1920

By R. F. Hewlett

All ore reserve estimates are based on some system for assigning an area of influence to each drill hole. Commonly used methods of calculation are the polygonal, triangular, statistical analysis, and cross-sectional. Each of these methods is based on different volumetric considerations and the weighting of grade with tonnage varies with each method. Because the characteristics of each mineral deposit are different, a preliminary survey of these characteristics should be made for each individual deposit to determine which method or methods should be used. In this project the several methods were not only compared with one another, but also against actual production records. Basic data was derived from a mined out portion of the Silver Bell pit near Tucson, Ariz. All calculation was carried out on a digital computer, and the first step was development of computer programs which would yield the desired information. The second step was the coding of input data into punched card form. Cost and speed of computer operation were measured, and these results are given with the computer program summaries on page 38.

Jan 1, 1961

By R. T. Murrill

BLOCK-SIGNAL and dispatching systems have been in use on surface railways for years, but only recently have they been applied to underground mining conditions. Formerly, all ore was moved underground by hand tramming; the surface openings were numerous and fairly close to the ore being mined. As the tramming distances increased, animals were brought into service. Then came the locomotive, and since its introduction, haulage lines have gradually been reduced to fewer levels and to fewer surface openings until more than 20,000 tons are being handled daily on one level in some of the larger mines. Under the, se conditions many trains must use the same-tracks, and signal systems have become necessary. In some cases it has been found more advantageous to use train dispatchers than to install signal devices. The dispatcher may be simply a flagman at a busy point or he may have mechanical signals to operate at more distant points. At the inspiration mine, Inspira-tion, Ariz., the station is equipped with a switch-con-trol board, whereby the dispatcher throws electrically all track switches in a certain block, which gives him complete control over all trains passing through that block. In a few cases, dispatcher stations are established in connection with a signal system.

Jan 2, 1922

By A. L. Field

Previous Publications THE first report on the slag viscosity work of the Bureau of Mines was made by one of the authors 1 in 1916. It was concerned chiefly with, the method of measurement. A paper 2 on this phase of the work was presented to the Institute in February, 1917, and a similar paper 3 was communicated to the Faraday Society. Purpose and Scope of the Slag Viscosity Tables Following the development of a suitable method, the next step in the investigation was the measurement of slag viscosity over a wide range of temperature and composition, and the arrangement of this experimental data in the form of tables for the use of the blast-furnace operator. It is believed that this information, if used intelligently, should help the operator to reduce losses in production caused by off-grade pig iron, to improve fuel economy, to promote operating efficiency, and to extend present-day practice to meet the increasing need of smelting lean and complex ores. In the experimental part of the work it was early observed that the temperature-viscosity relations of a slag were determined, for practical purposes, by the relative proportions of the three major constituents, lime (CaO), alumina (Al203), and silica (Si02), provided the percentage

Jan 12, 1917

By Charles R. Keyes

In the dry regions of the globe many silver-deposits display certain remarkable features, which at the same time are so totally unlike anything met with among ore-bodies elsewhere that they hare long presented exceptional dificulties, not only to a satisfactory explanation of their origin, but to economical milling. A most striking peculiarity of these ores is the haloid character of many of their bonanzas. To this fact more than to any other may be ascribed most of the unusual uncertainties of mining-operations in desert countries—the marvelous local richness of the ores under certain conditions and the often abrupt transition to utter poverty; the inadequacy of ordinary prospecting customs and the constant devising of new exploratory methods; the unaccountable losses in smelting and the continual change in treatment-practice. For these anomalies certain climatic conditions seem to be chiefly responsible.

Jan 1, 1912

By Thiann R. Yu, William J. Quesnel

At Kidd Creek, the annual production of 4.5 million tonnes of ore has been achieved primarily with sublevel blasthole stoping. This mining method has allowed underground operations to meet the designed production capacity while maintaining an outstanding safety record. To achieve this goal, rock mechanics principles have been integrated into each facet of mining in the planning stage, in the production stage, and in various stages of ground support. This paper evaluates the two adopted mining sequences based on ground stress patterns, blasting control, ground reinforcement, backfill support, and numerical modelling for stope stability at the mines.

Jan 1, 1984

By Henry N. McCarl, John J. Dran

The academic community and the larger and more sophisticated mining companies have largely rejected the older mineral valuation methods such as the Hoskold and Morkill concepts and replaced them with "discounted cash flow" (DCF) techniques. The relevancy and usefulness of the older methods have been questioned primarily on the basis of their underlying assumptions that mining companies do not have numerous alternative investments and must use sinking funds deposited at market or "safe" rates of return to recover the purchase price of mineral reserves. The ability to reinvest in numerous (often nonmining) alternative business ventures, the changing purchasing power of the dollar, corporate income and other taxes, depreciation and depletion allowances, and modern financial management practice all militate against the continued use of the older valuation methods, especially for the larger mining companies. Small mining companies and individuals still use these methods largely out of habit and familiarity. The Hoskold Mineral Reserve Valuation Method The Hoskold method was developed prior to the evolution of modern accounting practices and before the days of the corporate income tax. At the time of its development, annual earnings of the firm were represented by the difference between cash revenues and cash expenses and were not subject to taxation by the government. Thus, earnings at that time were equivalent to what is today known as cash flow.

Jan 7, 1974

By J. G. Hadley

IN THE early stages of the depression the Utah Copper Co. realized that an unemployment problem would he created which demanded an intelligent and sympathetic solution. The company recognized that as many men as possible must be kept at work on a basis which would ultimately permit of the most efficient reabsorption of displaced labor. The company therefore determined to distribute available work among the greatest number of men and to that end adopted a system of rotating employees on a part-time basis. An employer requires a certain number of days' or shifts' work during the month. Obviously one employee working thirty days or shifts a month is equal to two employees each working fifteen. In principle, therefore, where two employees equally fitted to do certain work are available the work could be divided between them on an equitable basis and twice as many persons would benefit. A rotation plan on this basis was adopted by the Utah Copper, Co. on Jan. 30, 1930. Some variations of the orig¬inal plan have been made from time to time, the reasons for which will be discussed.

Jan 1, 1932

By Donald R. Lessard

I. INTRODUCTION There is no question that the choice of an appropriate discount rate is a critical element in virtually all business decisions in extractive industries. The standard textbook approach relies on a single overall cost of capital for an entire firm, itself a weighted average of the firm's cost of debt and equity. But a single rate is appropriate only if the commercial risks and financing structures are similar for all projects under consideration. In extractive industries, appropriate discount rates are likely to vary greatly from project to project. Risks of projects differ markedly by mineral, by country in which the project is located, by stage in production, and by position in the project's life. Further, for a variety of institutional reasons, financing structures vary greatly in relation to these same variables and thus the discount rate appropriate to the entire investment and, in particular, to the sponsor's equity investment will vary even more markedly. Failure to select discount rates which reflect these differences can result in extremely distorted decisions. Our interest in this subject results from our ongoing research on alternative ownership and financing structures for large scale extractive ventures in less developed countries where risks to the various participants--the sponsors, the financiers, and the host government--vary dramatically with the different options. Given the magnitude of these differences, a single discount rate for all options is clearly inappropriate. However, there appear to be few guidelines for practicing managers to follow in setting appropriate rates. In this paper, we take a first step in this direction.

Jan 1, 1977

Jan 1, 1940

By James R. Piper

Jan 1, 1985

Jan 1, 1940

Jan 1, 1902

By W. F. Shinners

Ozark Ore Co.'s Iron Mountain mine utilizes optimum mechanization to provide ever increasing output from underground as production declines from open pit. Trackless equipment gave flexibility to meet varied mining conditions-required minimum of pre-production development.

Jan 4, 1953

Jan 1, 1913

By I. L. Nichols, D. C. Seidel, D. E. Traut

A fluidized countercurrent ion-exchange system was developed, operated, and evaluated by the Bureau of Mines. The system consisted of integrated multiple-compartment absorption and elution columns in which the solution flows are continuous except for short periods when resin increments are withdrawn. The exchange of uranyl sulfate between a simulated acid leach uranium solution and a strong-base, ion-exchange resin together with the subsequent elution with an acidified sodium chloride solution was studied. The effects of the number of sections, section heights, amount of resin withdrawal, and solution flow rates were investigated. Also examined were the kinetic and equilibrium relationships for the absorption step. The experimental data indicate a strong interdependence between variables. Solution retention time appears to be a major limiting variable. The column was efficient over a range of conditions, but close control was needed for optimum operation.

Jan 1, 1977

By C. R. Boyd

The region to which I have the pleasure of calling your attention, though limited in area, is remarkable for the quantity and purity of its mineral deposits, and in these respects it would be difficult to find its equal anywhere. IRON ORES. The red and brown hematites, pipe ore, and semi-magnetites, from which is made in charcoal furnaces the highest quality of iron for car-wheels, extend through the counties of Giles, Montgomery, Pulaski, Wythe, Smyth, Washington, Bland, Tazewell, Russell, Scott, Lee, Floyd, Carroll, and Grayson, Virginia, and run over into Ashe County, North Carolina. One locality of semi-magnetite, in the centre of the great Giles County basin, has in sight, by actual measurement, 50,000 tons of ore, which, according to Prof. Fesquet, contains 69.74 per cent. of iron and no phosphorus. In the great brown-ore belt, which passes through the counties of Montgomery, Pulaski, Wythe, Smyth, and Washington, there is an extraordinary deposit of more than a million tons. A small section of this very long vein, on Cripple Creek, in the County of Wythe, yields an ore which, analyzed by Mr. James Aumann, gave the following results: Metallic iron,........58.15 Water,.........12 96 Alumina,........2.32 Silica,.........1.09 Phosphorus,.. none. At one point towards the western end of Red Land Mountain, in Pulaski County, New River section, I measured a body of ore in this belt which will yield, to a depth of 150 feet, over 8,000,000 tons, and the deposit extends far below the 150 feet measured at the upper part. Again, at Rich Hill, near the mouth of Reed Island Creek, these veins show extraordinary surface development, giving an ore of very great purity. At numerous places, also, in the counties of Giles, Bland, Tazewell, Russell, Scott, Wise, and Lee, these brown and red iron ores are exposed in such vast quantities as to baffle both description and measurement. That of Chestnut Flat, in Giles County, back or west of the Angel's Rest Mountain, is an easily reducible ore, blood-red when crushed, of which there are fully 300,000 tons in sight. Its analysis is as follows :

Jan 1, 1880

By C. R. Boyd

THE region to which I have the pleasure of calling your attention, though limited in area, is remarkable for the quantity and purity of its mineral deposits, and in these respects it would be difficult to find its equal anywhere. IRON ORES. The red and brown hematites, pipe ore, and semi-magnetites, from which is made in charcoal furnaces the highest quality of iron for car-wheels, extend through the counties of Giles, Montgomery, Pulaski, Wythe, Smyth, Washington, Bland, Tazewell, Russell, Scott, Lee, Floyd, Carroll, and Grayson, Virginia, and run over into Ashe County, North Carolina. One locality of semi-magnetite, in the centre of the great Giles County basin, has in sight, by actual measurement, 50,000 tons of ore, which, according to Prof. Fesquet, contains 69.74 per cent. of iron and no phosphorus. In the great brown-ore belt, which passes through the counties of Montgomery, Pulaski, Wythe, Smyth, and Washington, there is an extraordinary deposit of more than a million tons. A small section of this very long vein, on Cripple Creek, in the County of Wythe, yields an ore which, analyzed by Mr. James Aumann, gave the following results: Metallic iron, - 58.15 Water, - 12 96 Alumina, - 2.32 Silica, - 1.09 Phosphorus, - none. At one point towards the western end of Red Land Mountain, in Pulaski County, New River section, I measured a body of ore in this belt which will yield, to a depth of 150 feet, over 8,000,000 tons, and the deposit extends far below the 150 feet measured at the upper part. Again, at Rich Hill, near the mouth of Reed Island Creek, these veins show extraordinary surface development, giving an ore of very great purity. At numerous places, also, in the counties of Giles, Bland, Tazewell, Russell, Scott, Wise, and Lee, these brown and red iron ores are exposed in such vast quantities as to baffle both description and measurement. That of Chestnut Flat, in Giles County, back or west of the Angel's Rest Mountain, is an easily reducible ore, blood-red when crushed, of which there are fully 300,000 tons in sight. Its analysis is as follows

Jan 1, 1880

Elected Died 1895 *ABBOTT, AI ATTHUR 1908 1882 *ABBOTT, ARTHUR V 1906 1903 * ADAMS, CHARLES C. 1905 1905 * ADAMS, WILLAMS 1909 1884 *ADDY, MATTHEW 1896 1889 * AKERS, WILLIAMS 1906 1894 *ALLEN R B 1896 1905 * ALLEN, R. SCOTT 1906 1874 *AMIOT, H 1892 1886 *AMSLER, CARL 1894 1895 *ÅNGSTROM, CARL 1901 1900 * ARLETT, GEORGE H 1906 1895 *ARMSTRONG, JOHN F 1898 1882 *ARNOLDS, HUGO 1886 1875 *ASHBURNER, CHARLES A 1889 1872 *ASIIBURNER, WILLIAM 1887 1883 *ATKINS, C M , JR 1885 1905 * AUSTEN, PETER T 1907

Jan 1, 1910