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H. H. Kellogg (Columbia University)—The accurate measurements of the equilibrium gas ratios for the reaction: Pb(1) + H2S = PbS(c) + H2 [I] reported in this paper are a distinct contribution to the literature, and the authors are to be congratulated. I wish to comment, however, on the correlation of the data which is presented. The authors show a straight line correlation of log H2S/H2 vs 1/T, Fig. 1, and are satisfied with this for calculation of ?Fo even when extrapolated to low temperature (427 °C). Heat capacity data for the constituents of this reaction are available (at least to 900°K), however, and ACP for reaction [I] is finite and positive in the temperature range studied. Simplification of the heat capacity equations yields: ?CP= 2.71 + 1.65 x 10-3T (298°-900°K) This positive value of ?CP should result in a small but noticeable curvature of a plot of log K vs 1/T. That the experimental data fail to show such a curvature may be traced to another oversimplification of the author's treatment of their data. They assume that the activity of liquid lead is unity for all temperatures, so that

Jan 1, 1961

By Charles E. Lundin, Albert S. Yamamoto

The phase eqrtilibria of the binavy system, Nb-Al, weye established by metallographic, X-ray diffraction, hardness, and thermal-analysis techniques. Three intermediate phases were identijied, Nb3.41, Nb2Al, and NbAl,. The N6,Al and NbAl phases have extensiue ranges of solubility. The maximum solubility of aluminum in niobiuitz is 23.0 i0.5 at. pct (8.0 wt pct) A1 clt 1960" i 10°C. The maximumt solinbility oj niobiunz in alunzinutz is less than 0.3 i0.1 at. pct (1.0 tut pct) fib. The A'h,Al and Nbgl interinediate phases forr peritectically at 1960° 1UcC and 1870" i 1U9C, respectively, zuhereas the NbAl, phase fornts congvuently fio11t the melt at 1605" 10°C. A eutectic reaction oc- The intent of an over-all research program was to develop niobium-aluminide-base coatings for refractory metals since these coatings exhibit useful high- curs at 57.8 i 0.5 at. pct (28.5 wt pet) A1 and 1500" 10°C between NbAl and NbAl3. The aluminum-rich region of the system has a peritectic reaction where liquid reacts with NbAL, to form aluminum solid solution. Structural and lattice -pavarneter data /or the intermediate phases were determined by X-ray diffraction analyses. An unusual transfov?nation having charactevistics of nucleation-growth and martensitic nleclanisils occurs on cooling the niobium solid solution in the region from 18 at. pct (6 wt pct) Al to 23 at. pct (8 wt pct) Al. The transfornzed product on rapid quenchirzg is an acicular NhAl. temperature resistance to oxidation. As a prerequisite, the phase equilibria of the system, Nb-A1, were necessary. A literature survey revealed that the phase-equilibria data reported by various investigators were rather incomplete and conflicting. Therefore a complete determination of the system was undertaken by the authors from 0 to 100 pct of solute addition.' In 1959 Savitskiyz presented a tentative diagram which

Jan 1, 1967

By THOMAS J. CLIFFORD

IN 1926, finer grinding began to be a feature of the milling practice of the Southeast Missouri lead district. Nothing since the adoption of flotation has caused greater changes and greater improvement in results. The trend toward finer grinding, with the consequent discarding of tailing at finer sizes, and consequent lower assays in lead, continued to progress until 1931, when the abnormally low price of lead brought a halt: that is, the better metallurgical results obtained would not offset the increased costs due to higher power and necessary maintenance. Since 1931 a slight tendency toward the discard of coarser tailing has taken place. , In 1926, larger rod mills i.12 ft. 1 in. by 6 ft. 6 in.) than any previously used in the district were installed in cue plant, and a new primary crushing plant, of greater capacity was built. This combination demonstrated immediately the better metallurgical results obtainable by finer grinding and all the mills now running have adopted the practice.

Jan 1, 1934

By J. M. Markowitz

The movement of hydrogen in two-phase Zircaloy-2 under the influence of a thermal gradient was studied in specimens of cylindrical geometry. A gross displacement of hydrogen toward the cooler regions of the specimen was observed with consequent copious precipitation of 6-ztrconium (ZrH) there. The kinetics of the diffusion are analyzed and discussed. X HE temperature-gradient redistribution of hydrogen in a-Zircaloy-2 has been treated both theoretically and experimentally Hydrogen moves toward the cold side of the temperature gradient until a steady state has been established; tendency for further hydrogen movement because of temperature differences is nullified by the tendency to move in the reverse direction because of the concentration gradient. The steady state condition is described by the equation in which iV is the concentration of hydrogen at a point in the specimen corresponding to absolute temperature T, R is the gas constant,k is a constant of integration, and Q is a parameter called the heat of transport, characteristic Of the particular system. The value of Q has been determined for hydrogen in Zircaloy-2 by several investigators, using Eq. [11. There is considerable variation in the results, the cause of which has not been resolved; reported values lie in the range 3 to 6 kcal per mole. The physical situation for two-phase thermal migration is much more complex. The -phase boundary for the solubility of hydrogen in Zircaloy-2 ranges from a concentration of 25 ppm at 200°C to a maximum of about 600 ppm at 550°C.4a Thus, if the concentration of hydrogen in Zircaloy-2 is sufficiently great (>600 ppm), the specimen will be entirely two-phase, consisting of a matrix of a-Zircaloy-2 surrounding particles of zirconium hydride. At time zero, with a temperature gradient imposed, the relative amounts of hydride and a-phase in each infinite-simally thin isothermal section of the specimen can be determined from the phase diagram by the lever rule. Moreover, the concentration of hydrogen in the matrix phase varies from point to point, following the a solubility line. Over most of this temperature range (<450°C) 6 phase, Fig. 3, has a constant concentration.5 The diffusion rate toward the cold side should be governed by 1) the slope of the a solubility line and 2) the temperature gradient, The extra complication of two-phase thermal diffusion lies in the fact that migration of hydrogen would leave the a-phase concentration gradient unaffected, since it is fixed at any temperature only by the solubility; gross concentration changes would reflect only the relative amounts of matrix and hydride, which could vary continuously at every point. Migration of hydrogen out of a region would lead to dissolution of hydride, and

Jan 1, 1962

By Nelson Taylor

WITH the extensive deposits of potash minerals which have been dis-covered in the southwestern states, and their rapid development, a permanent. American supply of potassium compounds is now assured. The 325-year history of the potash industry in this country has been told by H. I. Smith1, of the U.S. Geological Survey, and the more recent activities of the Survey and of American potash companies were described last year by the same author2. In fact, it may be stated that so great is the productive capacity that two mines in New Mexico and one in California are able to supply more than half a million tons of crude and refined salts over and above that produced for agricultural purposes. The era of scarcity has given way to an era of superabundance. This situation makes it desirable for the potash producer to look for other applications for his product, and it is with this in mind that the writer presents some information pertaining to present and possible future uses for potassium compounds in the ceramic industry.

Jan 1, 1936

By R. Steven Maxwell, Ulrich Petersen

Most minerals have experienced a slow hut perceptible decline in their annual primary production growth over the past hundred years. This decline is due to a combination of factors: (1) increased recycling; (2) exhaustion of the more accessible or higher grade ores; (3) partial substitution; (4) the more efficient use of materials; (5) progressive saturation of markets as living standards rise. Therefore, future demand for new mineral resources will probably be lower than anticipated. As the world population stabilizes, this slowdown in production growth will become even more pronounced.

Jan 1, 1979

NEW MEMBERS The following list comprises the names of those persons who became members during the period Dec. 10, 1916 to Dec. 31, 1916. BOWMAN, Joseph V., Chem., Andes Copper Mining Co., Chanaral, Chile, South America. CALDER, NORMAN L., Min. Geol., Cia. Minera y de Fomento, Watkins, Fomento Prov. de Santa Clara., Cuba. CONRADS, RALPH A., Met. Engr., Magna Plant, Utah Copper Co., Garfield, Utah. FARR, T. H. POWERS, JR. Asst. Assayer, Argonaut Mining Coy Jackson, Cal HAURY, PETER S., Min. Engr ...Alta Loma, Cal. HOULE, ARTHUR, Supt., Shattuck-Arizona Copper Co., Box 2009, Bisbee, Ariz. LEIB, VICTOR E?, Min. Engr 4204 Ave. D, Austin, Tex. LINDSLEY, THAYER, Min. Engr 82 Beaver St.,. New York, N. Y. POTTER, OCHA Supt., Superior Copper Co., Houghton, Mich. ROCCA, BERNARD T.; Engr., Bluebell Mine, Cons. Arizona Smelting Co., Mayer, Ariz. SAFFOLD, RAY P P.&apos;0. Box 436, Douglas, Ariz. THOMS, JAMES EZRA, Asst. Chief, Milling, -Roasting, Acid Depts., Mineral Point Zinc. Co., Depue, Ill. TOMITA, HARUYOSHI, Met. Engr., Mitsubishi Co., Osaruzawa Mine, Akita-ken, Japan.

Jan 2, 1917

By H. S. George

A method of illumination that enhances the value of microscopic study of opaque materials, as in metallography. By simulating natural lighting, structures. That possess relief are given a natural appearance. An example is included of the revelation of a hitherto invisible microconstituent. Erroneous interpretation is avoided. For example, etching figures in ferrite, heretofore considered to be pits, are revealed as pyramids, standing in bas-relief. Suggestions on technique are given, for, while the method is obvious, practice and attention to detail are requisite. ON one occasion when it seemed desirable to reveal under the microscope not only the metallic structure of an alloy, but certain small non-metallic inclusions, that are ordinarily obliterated by etching, it was discovered that, by partly eclipsing the illuminating pencil of light rays, the residual light was thrown on the object from one side and the structure was brought out in relief. At the same time, the non-metallic inclusions were retained in clear view. In this first demonstration of lighting obliquely through the objective a card was thrust part way into the light beam between the arc iris, and the light filter; the shadow of the card on the filter served to locate its position. Next several stiff-paper disks of various diameters were mounted on flexible wires some plasticine on the other end of the wires made it easy to adjust and maintain a disk at any desired position in the light beam. To facilitate manipulation, an assortment of disks, was mounted on a wheel, as shown in Fig. 1. The purpose of partly eclipsing the light beam was discussed in an earlier paper.1 There it was pointed out that the usual methods of illuminating opaque objects for microscopic examination lend an, un-natural appearance to, the view, while the new method, which has been termed conical illumination, revels the true relationship of constituents by simulating natural lighting.

Jan 3, 1924

Dubbed "Freeport&apos;s Mission Impossible" by the trade press, the company&apos;s Ertsberg mine in West Irian nevertheless shipped its first concentrates in December 1972, ahead of schedule. This is a new and great chapter in the history of Freeport Minerals Co. and its contractors. Exploration and construction were only possible by moving equipment and supplies by helicopters. This work was carried out by Petroleum Helicopters, Inc., of Lafayette, La. At the peak of operations six machines were in service manned by 11 pilots and supported by 10 mechanics. During the month of August, with work in full swing 1,604 tons were moved, including 3 DC-6 tractors requiring 18 trips each; flying hours for the month were 636.

Jan 1, 1973

By E. R. Borcherdt

IT is notable that the first large-scale mine operation equipped entirely with detachable bits was the Badger State mine of the Anaconda Copper Mining Co. in Butte, Montana, just 30 years ago. This mine in 1922 was producing approximately 1200 tons of ore per day. Much of the data presented in C. L. Berrien&apos;s article1 describing the development and installation of the Hawkesworth detachable drill bit were obtained from these operations. As in any pioneering effort, no precedent existed and many difficult problems required solution, so that the changeover to detachable bits at all Butte hill mines was not completed for 6 years. There was widespread disbelief as to the probable efficiency of the new installation.

Jan 2, 1953

On June 15, Dr. E. E. Southard gave the following report to the Advisory Committee on Industrial Mental Hygiene of the. Engineering Foundation. Psychiatric social work, a new specialty in social work, was the topic of several section meetings (500-600 in attendance) at the National Conference for Social Work, held at Atlantic City, June 1-6. The new specialty was stated, by Dr. R. C. Cabot, to be the greatest single advance in medical social work since its establishment. Reports from three schools (Smith, New York, Philadelphia) indicate a good production rate of personnel, probably at least one hundred a; year, chiefly to be absorbed by hospitals, unless industrial psychiatry steps into the field. No detailed public announcements concerning industrial psychiatry were made; but private discussions elicited approval only for the program. Indications are that many non-medical social workers will decide to get additional training to go into medical social work and then to specialize in psychiatric social work and that many medical social workers will desire to specialize in psychiatric social work, with a view partly to entering reconstruction work, partly to entering industrial psychiatry. Suggestion has been made that psychiatric social workers may go into some kinds of, employment management and may look for special courses to that end. Evidence. has been brought that certain "compensated" psychopathic employees have been good (even very good) workmen: emphasis should be laid on this point to show the constructive aspect of industrial psychiatry:

Jan 8, 1919

By T. D. Thomas

CONTENTS PAGE T. D. Thomas-Misfires in Anthracite Coal Mines 3 W. H. Forbes-Misfires in Bituminous Coal Mines 12 A. W. Worthington-Misfires in Non-metallic Mining (Limestone) 18 Misfires in Anthracite Coal Mines BY T. D. THOMAS,* LANSFORD, PA. (New York Meeting, February, 1929) IN THIS paper, major attention is given to misfires in mines where electric multiple shot-firing is the system used. Misfires are sometimes caused by one action or condition and at other times by a combination of two or more. They may be divided into two classes: (1) those caused by workers in the mines, (2) mechanical or manufacturer&apos;s causes. The second cause will be discussed first.

Jan 1, 1929

[Abrahamson, Guy C., (5&apos;43) 1st Lt., A.C., 0-880861, Base Weather Sta., Fairfeld-Suisun AAB, Suisun, Calif. Adam, Howard Wilbur, (S&apos;46) 45 Eaton Ave., Woburn, Mass. Aguilar, Ruperto G., (S&apos;43) Texas College of Mines, El Paso, Texas. Ainge, Ronald Farra, (S&apos;43) Otago University, Dunedin, New Zealand. Albala, Américo, (S&apos;44) Casilla 4106, Santiago, Chile. Albrecht, Theodore J„ (S&apos;42) Pfc., Co. F, Syme Hall, Rm. 1, SCU 3421, ASTP, N. C. State College, Raleigh, N. C. Aldridge, E. E., Jr., (S&apos;39) Box 58, Eagle Pass, Texas. Alfred, Robert M., (S&apos;40) 25 South St., Brighton, Mass. Allan, Douglas H. W., (S&apos;40) 460 Main St., E., Hamilton. Ont.. Canada.]

Jan 1, 1946

By Steve H. Carpenter, Henry E. Otto

The explosive welding of metals is dependent upon the production of a jetting action caused by the collapsing of one metal plate against another. Successful welds are generally accomplished if the yield strength of the metals is in the range of 10,000 to 90,000 psi and the sonic velocity of the metal is greater than the detonation velocity of the explosive if direct contact explosive is being used.&apos; Should the detonation velocity exceed the velocity of sound in the metal it may still be possible to obtain the jetting action and a good weld. However, in most cases where a high detonation velocity is used complications arise because of reflected shock waves which tear the bond apart as fast as it is put together.&apos; Explosive welding of lead presents several problems since its yield strength and sound velocity are very low. Various values have been published3-5 for the velocity of sound in lead ranging from 2000~ to 23004 m per sec. Most of the high-order explosives have detonation velocities on the order of 6000 to 8000 m per sec, which precludes their use. The dynamites have a lower detonation velocity of around 2800 m per sec which is still somewhat too high. Lower-order explosives such as ammonium nitrate (1070 m per sec) must be used to weld lead in the as-received condition if the explosives are used in direct contact. Rather than use low-order explo&apos;sives it was decided to alter the sonic velocity of the lead. The sonic velocity is directly related to the modulus of the material according to the following expression: Fig 1—Interface of explosive weld of lead to steel. Lead is on top As-polished Magnification 75 times as well as the yield strength. Bolling et al. 6 show that the shear modulus of lead single crystals increases from about 0.72 X1011 dynes per sq cm at 300°K to about 0.98 X1011 dynes per sq cm at 0°K, an increase of approximately 3 5 pct. This gives an increase in the sonic velocity of around 700 m per sec. Hence, the sonic velocity of lead at cryogenic temperatures is approximately equivalent to the detonation velocity of the low-order dynamites. We have obtained high-quality lead to steel explosive welds using a 40 pct dynamite in direct contact with the lead. Prior to detonation the lead was chilled with liquid nitrogen (78°K) to increase the strength and sonic velocity. Welds were made while the lead was cold. Specimen sizes were 3 by 6 in. A preset angle of 5 deg with a 0.10-in. standoff at the base was the geometrical setup used. The amount of explosive used for optimum welding of an 1/8 -in. -thick lead sheet to a steel plate was found to be 7 g per sq in. A PETN sheet explosive line wave generator was used to insure a linear detonation front through the dynamite. A photomicrograph of a lead-steel weld is shown in Fig. 1. The typical wave effect that constitutes a good explosive weld is present. When tested in shear, the weld failed in the lead, indicating that the bond is stronger than the lead base metal. Higher-order explosives were also tried without success. We believe this indicates the importance of matching the detonation velocity and the sonic velocity for successful explosive welding. Note Added in Proof. High quality explosive welds of lead to steel have recently been obtained at ambient temperature using a low velocity (1000 M per sec) free running dynamite. The weld interface obtained is comparable to Fig. 1. &apos;S. H. Carpenter, R. H. Wittman, and R. J. Carlson: Proceedings of the First International Conference of the Center for High Energy Forming, Syracuse University Press, syracu.se, N. Y., in press. &apos;A. HI Holtzman and G. R. Cowan: Welding Risearch. Council Bull., No. 104, April, 1965. &apos;Metals Handbook, 8 ed., p. 1062, Metals Park, Ohlo. &apos;J. M. Walsh, M. H. Rice, R. G. McQueen, and F. L. Yarger: Phys. Rev., 1957, vol. 108, pp. 196-216; &apos;L. V. Al&apos;tshuler, K. K. Krupnikov, B. N. Ledener, V. I. Zuchikhin,

Jan 1, 1968

Alder, John W., Student, Mass. Inst. of Tech Cambridge, Mass. &apos;38 Allen, Charles F Mines McFarland, Cal. &apos;34 Anderson, Norman John, Student, South Dakota School of Mines Rapid. City, S. D. &apos;32 Ansel, Gerhard, Student, Mass. Inst. of Tech Cambridge, Mass. &apos;34 Arakelian, Haig Mark, Student, Inst. of Tech Cambridge, Mass. &apos;34 Archer, George K., Student, Colorado School of Mines Golden, Colo. &apos;34 Arnot, Paul H. 608 S. Acacia St., Compton, Cal. &apos;31 Asel, Philip R., Student, Colorado School of Mines Golden, Colo. &apos;32 Augenthaler, Robert L., Student, New Mexico School of Mines Socorro, N. M. &apos;32 Augustine, Robert W. Address Wanted. &apos;32. Austin, Robert B., Student, Univ. of Idaho Moscow, Idaho. &apos;34

Jan 1, 1934

YEAR OF ELECTION 1913 FRANK DAWSON ADAMS Montreal, Canada 1921. WILLIAM CUTHBERT BLACKETT Sacriston, Durham, England 1923 GELASIO CAETANI Washington, D C 1920. HENRY STURGIS DRINKER Merion Station, Pa 1921 FERDINAND FOCH Paris, France 1922. FEDERICO GIOLITTI . Torino, Italy 1888. HATON DE LA GOUPILLIERE Paris, France 1906 SIR ROBERT A. HADFIELD London, England 1921. FRANK WILLIAM HARBORD London, England 1921. HEINRICH O HOFMAN Cambridge, Mass 1917 HERBERT HOOVER . Washington, D C 1915 JAMES FURMAN KEMP New York, N. Y 1905 HENRI LECHATELIER Paris, France 1921. C. McDERMID London, England 1913 EZEQUIEL ORDONEZ Mexico City, Mexico 1909 ALEXANDRE POURCEL Paris, France 1911 ROBERT H RICHARDS Cambridge, Mass 1907 CHARLES D WALCOTT Washington, D C

Jan 1, 1923

By N. Mungan

Laboratory imbibition and displacement experiments were performed using crude oil and cores drilled with water and preserved under anaerobic conditions. The purpose of these tests was to determine reservoir rock wettability and to find out if more oil could be recovered by use of NaOH solution than by conventional waterflooding. The preserved cores were found to be oil-wet. Contrary to work in the literature, these cores changed to water-wet upon contact with air. After exposure to air for a week, the cores yielded more oil by waterflooding than when preserved under exclusion of air. At reservoir temperature of 160F, flooding the preserved cores with 0.5N NaOH solution recovered more oil than an ordinary wa-terflood, and additional oil when following a waterflood. When the caustic solution was used from the beginning, all the extra oil was obtained before breakthrough; when the caustic followed a conventional waterflood, the extra oil was produced in the form of an oil bank ahead of the injected caustic. The increase in oil recovery resulted from wettability reversal. Also, use of caustic reduced the volume of injection required to flood out the cores. At room temperature, however, the caustic solution did not reverse the wettability and gave no additional oil recovery. Cores which had become water-wet by air exposure or caustic flooding were restored to their original oil-wet state when saturated with crude oil and allowed to equcilibrate at reservoir temperature for two weeks. Therefore, in the absence of preserved cores, it may be possible to restore weathered cores to their original wettability for use in laboratory floods. INTRODUCTION Waterflooding has been in use since 1865, and is by far the simplest of secondary recovery methods. Unfortunately, most waterfloods are inefficient in recovering oil, often leaving half or more of the original oil in place un-recovered. The low oil recovery generally results from low sweep efficiency and low displacement efficiency. Consequently, to increase oil recovery by waterflooding, sweep and displacement efficiencies should be improved. Sweep efficiency is primarily affected by reservoir heterogeneities and mobility ratio, while displacement efficiency is affected by the capillary forces between fluids and rock surfaces. For petroleum reservoirs, the capillary forces are expressed in terms of interfacial tension and wettability. If oil recovery is to be improved significantly in water- flooding, the capillary forces holding the oil in the raervoir porous matrix must be reduced or eliminated. One way to reduce capillary forces is to inject commercial surfactants ahead of the injection water into the reservoir. Laboratory tests of this method have shown no promise of an economical process yet, and no increase in oil recovery was obtained in the field trials which have been reported. Work is continuing in many companies to find surface-active agents which, in workable concentrations, can yield substantial added oil recovery. Another way to change capillary forces operating in petroleum reservoirs is by changing the pH of the injected water. Wagner et al.&apos; showed that change in the pH sometimes activates the surface-active materials natural to some crudes and brings about gross wettability change. Since pH alteration can be obtained with cheap chemicals, such as hydrochloric acid or sodium hydroxide, the process shows promise of being economical in a field application. Pan American Oil Corp. reported oil recovery by use of caustic solution from a flooded-out reservoir.&apos; Their test, conducted at a small additional cost, yielded results which were so sufficiently favorable and encouraging that the wettability reversal flood was expanded to portions of the field not previously flooded.13 It is important to bear in mind that changes in the pH of the water not only can reverse wettability but also can lower the interfacial tension between water and crude oil. Reisberg and Doscher4 have studied the pH dependency of the interfacial tension of Venture crude using sodium hydroxide solutions of various concentrations. Their data show that the interfacial tension was lowered from 23.0 to 0.02 dynes/cm by increasing the NaOH concentration from 0.005 to 0.5 per cent by weight. Thus, the use of NaOH may lead to additional oil recovery due to both wettability reversal and lowering of interfacial tension. Whether alteration of pH results in wettability reversal from oil-wet to water-wet and increases oil recovery depends on wetting properties of the reservoir rock and the crude. This necessitates delicate laboratory experiments, with suitable core and fluid samples from a field. Although many investigators have studied wettability reversal floods in the laboratory,1,2,5,6 these studies have been carried out with synthetic porous media, refined laboratory fluids and surface-active chemicals to simulate the process. The study presented in this paper is the first time that wettability reversal by pH alteration has been accomolished in laboratory core floods using carefully preserved natural cores, live crude and with experiments performed at reservoir pressure and temperature.

Jan 1, 1967

Discussion of the paper of George K. Burgess, J. J. Crowe, H. S. Rawdon, and R. G. Waltenberg, Finishing Temperatures and Properties of Rails. By Albert Sauveur, R. Trimble, William R. Webster, P. H. Dudley, George B. Waterhouse, M. H. Wickhorst, James Aston, E. F. Kenney, A. W. Gibbs, W. A. Aiken, and G. K. Burgess . . 767 Discussion of the paper of Albert Sauveur, Manganese Steel and the Allotropic Theory. By G. K. Burgess and J. E. Stead 787 Discussion of the paper of J. V. Emmons, The Surface Decarbonization of Tool Steel. By Albert Sauveur, Bradley Stoughton, E. G. Spilsbury, Oliver W. Storey, H. O. Hofman, and J. V..Emmons 790 Discussion of the paper of Richard H. Rice, Turbo Blowers for Blast-Furnace Blowing. By S. G. Valentine, W. McA. Johnson, L. Iversen, J. E. Johnson, Jr., Karl Nibecker, W. Trinks, Otto Banner, H. S. Braman, Arthur G. McKee, and Richard H. Rice . . . 794 Discussion of the paper of J. K. Furst, The Plant of the Duplex Process for Making Steel. By W. McA. Johnson, Arthur G. McKee, Henry D. Hubard, and Bradley Stoughton . . 810 Discussion of the paper of E. C. Harder, The Iron Industry in Brazil. By I. C. White and E. C. Harder 813

Jan 4, 1915

By L. Hartsell Cash

INTRODUCTION Created in 1944 to help rebuild those economies, principally in Europe, which were seriously damaged or destroyed during the Second World War, the World Bank--or to use its correct name, the International Bank for Reconstruction and Development-began its operational phase by making a loan to the Government of France to accomplish two tasks: (i) to import coal for space heating purposes; and (ii) to buy new machinery and equipment to help rehabilitate its coal mines. Once the thrust of reconstruction in postwar Europe was largely accomplished, the World Bank Group (for today the World Bank has three separate lending windows) turned to mobilizing funds to improve living standards in developing countries, which remains its primary goal today. Over this period of time, the World Bank Group has continued to assist the world mining industry in various ways and, since 1955 the World Bank Group has financed mining or mineral processing projects with loans/credits totalling $1.5 billion. The World Bank Group consists of two institutions--the World Bank itself and the International Finance Corporation (IFC), which was founded as a separate institution in 1956 and three separate lending windows--the World Bank, the International Development Association (IDA), and IFC. The World Bank loans are provided at commercially-related interest rates but have grace periods usually of up to 3 to 5 years and repayment periods ranging from around 15 to 20 years. Since the World Bank raises its operating funds on the international capital markets in varying currencies and in varying interest rates, it relends a basket of currencies at floating interest rates which are fixed every six months to reflect the Bank&apos;s own borrowing cost. At the present time, the interest rate is just below 10% per year and in addition, a one-time front-end fee of 1/4 of 1% is charged. Also, a commitment fee of 3/4% per year is charged on the undisbursed amount of the loan itself. For loans to industrial and mining projects, it is normal to charge an additional guarantee fee of 1 to 1.5% in addition to the annual interest rate. This guarantee fee is payable to the government of the country in which the project is carried out since, by its charter, the World Bank is required to have the guarantee of the host government for each loan made in a specific country. By far the greatest source of lending funds within the World Bank Group is that of the World Bank itself and for the fiscal year ending June 30, 1984, the World Bank approved loans totalling $12 billion. The second lending window within the World Bank Group is IDA which performs the same functions as the Bank itself and has the same staff. Nevertheless, its loans (called credits) are made on much softer terms and are made to the poorest nations only. IDA funds are subscribed by the wealthier countries, usually as grants, and these are relent as credits to those countries with the lowest per capita income. IDA credits are made for 50 year periods, including 10 years of grace, to the government itself. The credits are interest free, but there is a service charge of 3/4% per year on the amount withdrawn and outstanding to defray the administrative costs of IDA. Credits approved during fiscal 1984 totalled $3.5 billion. The third lending window is IFC. While IFC is a separate corporation and operates quite separately from the World Bank and has its own staff and regulations, it works very closely with the World Bank on its overall approach to the mining sector and to a particular country. IFC&apos;s mission is essentially to supply venture capital and to stimulate development of the local private sector in capital markets as well as to promote the international flow of private capital to developing countries. Unlike the World Bank and IDA, the IFC does not lend directly to governments

Jan 1, 1985

YEAR OF r ELECTION 1913 FRANK DAWSON ADAMS Montreal, Canada 1921. WILLIAM CUTHBERT BLACKETT Sacriston, Durham, England 1923 GELASIO CAETANI Washington, D C 1920. HENRY STUROIS DRINKER Menon Station, Pa 1921. FERDINAND FOCH . Pans, France 1922. FEDERICO GIOLITTI Torino, Italy 1888. HATON DE LA GOUPILLIERE Paris, France. 1906. SIR ROBERT A. HADFIELD London, England 1921. FRANK WILLIAM HARBORD London, England 1921. HEINRICH O HOFMAN Cambridge, Mass 1917. HERBERT HOOVER .. Washington, D C. 1915 JAMES FURMAN KEMP New York, N. Y 1905. HENRI LECHATELIER Paris, France 1921. C. McDERMID London, England 1913 EZEQUIEL ORDONEZ Mexico City, Mexico 1909 ALEXANDRE POURCEL Paris, France 1911 ROBERT H RICHARDS Cambridge, Mass 1907. CHARLES D WALCOTT Washington, D C

Jan 1, 1923