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By Alan Bauer

DRILLING CONSIDERATIONS In considering blasting it is necessary to consider the drilling and explosives since one is generally concerned with the total cost of muck of a certain size in the pit or through the crusher. To get a current idea of the drilling situation in open pit mines plotted in Fig. 1 are the drilling costs per ton of material vs. hole diameter for rotary drill holes in large limestone, iron ore and taconite operations. The exception is the 2-in. diam hole which was drilled with a percussion drill in limestone. Each curve in Fig. 1 represents a different operation and the data cover many months of production drilling. The costs are total operating and maintenance and do not include machine depreciation. As the hole size is increased so are the machine size and the investment. Providing the tonnage is available to be drilled, then as the machine size goes up so does the productivity-markedly-and this same shape of curve applies. In some instances it is even steeper. The interesting thing to note is that in each case studied there is a substantial drop-off in cost/ton as the hole size is increased. This is true for the softest material considered, limestone, through to the hardest, taconite. How has this come about? In going from 10-in. to 123-in. diam holes, the powder factors have generally stayed about the same and the same type of muck has been produced. To date this has been mainly in the softer materials but it has also been steadily taking hold in the harder ones. On this basis, then, patterns are generally expanded as the ratio of the hole diameters or close to it, if the explosive type is kept the same. In the harder rocks the cost per foot of hole has increased somewhat so that the overall reduction in drilling cost per ton is about 25 pct. In somewhat weaker rocks of about 25,000 psi compressional strength the drilling cost per

Jan 1, 1968

By Peter Kos

Since advances in the understanding of gravity thickening reflects the development of knowledge about suspensions themselves, the paper starts with the discussion of flocculent and nonflocculent suspensions. The properties of flocculent suspensions and their behavior in different concentration regions (zone settling, channelling, compression) are defined and discussed. In the main portion of the paper, the behavior of flocculent and nonflocculent suspensions during batch as well as continuous thickening, is presented, together with a brief review of the gravity thickening theories and sizing methods. The classical as well as the most recently developed methods are presented and their use and limitations are discussed.

Jan 1, 1980

By R. W. Diamond

THREE mills are now operated by the Consolidated Mining & Smelting Co. of Canada, Ltd. : (1) The Sullivan Concentrator, Chapman Camp, B. C. (near Kimberley, B. C.), (2) the St. Eugene Concentrator, Moyie, B. C., and (3) the Tadanac (Customs) Concentrator, Trail, B. C. Differential flotation is the only concentration method employed in all three I plants. Tables are used for pilot work only. Values in all ores treated are as minerals of some or all of the metals -lead, zinc, gold or silver. Occasional customs ores contain small amounts of copper. Sulfide iron content of ores treated varies from a [ ] low figure in some ores to 38 per cent. iron in Sullivan ore. Gangue minerals vary considerably. A few customs ores are somewhat oxidized and as a result present difficulties. Flotation equipment and control are similar in the three mills, and the flow sheets at the St. Eugene and Tadanac mills, while much simpler, are modeled after that of the Sullivan Concentrator. In this paper I will not detail treatment nor equipment in any of our plants but will describe special features in, or in connection with, all of them. I will then deal with flotation reagents, describing our use of each of them, particularly where differing from general practice. I will conclude with comments on special subjects related to differential flotation.

Jan 1, 1928

By Gilbert Thiessen

THE use of a pneumatic process for removing fine material (usually less than 48-mesh) is increasing in, the preparation of stoker-size coal. The fine material, produced as a byproduct, is known as dedusting-plant dust. Since fusain is the most friable ingredient in bituminous coal (it may readily be rubbed to an impalpable powder with the fingers), it tends to accumulate in this byproduct. While studying the properties of cokes produced by blending Illinois coals with other materials, considerable quantities of fusain were required. Dedusting-plant dust suggested itself as a-convenient supply. It became necessary, therefore, to determine how much fusain was contained in a measured sample of dust, how the fusain was distributed with respect to size and specific gravity in the sample, and whether or not it would be feasible or desirable further to concentrate or to recover the fusain from, the dust before using it in the blends to be coked. The results obtained indicate the possibilities of production of a high-fusain material.

Jan 1, 1936

By T. Sterry Hunt

THE geognostical relations of the metals and their ores present many problems of great interest, alike for the geologist, the chemist, and the mining engineer. The association with certain rock-formations of characteristic mineral species may help to guide the geologist in the identification of geological horizons, and throw light on the chemical activities which have been especially manifested in certain periods; while it is clear that such relations, if established, must be of great utility to the miner, and especially to the explorer of new regions. In inquiries of this kind, however, it is only by careful observations over wide areas, and by the collocation of a great number of facts, that anything like a safe basis for induction can be attained. The effects of hasty and imperfect generalizations in this field have already in many instances been felt to the prejudice of scientific progress. I come before you to-night, therefore, not to lay down any laws or general principles, but to call your attention to certain facts, many of them doubtless known to you, which have forced themselves on my attention, with regard to the associations of various metallic ores and other useful minerals with different series of stratified rocks, and to ask you to aid the progress of this branch of geognostical inquiry. Your observations in the various regions to which you may be called by your professional duties will enable you to determine how far these associations are mere coincidences, and how far they are chemical and geological constants. The associations here to be noticed concern only those mineral species which occur, either distributed through the strata in such a manner as to show that they are contemporaneous deposits, or occupy rifts or gash-veins in these strata, and may be supposed to have been

Jan 1, 1873

By T. Sterry Hunt

THE geognostical relations of the metals and their ores present many problems of great interest, alike for the geologist, the chemist, and the mining engineer. The association with certain rock-formations of characteristic mineral species may help to guide the geologist in the identification of geological horizons, and throw light on the chemical activities which have been especially manifested in certain periods; while it is clear that such relations, if established, must be of great utility to the miner, and especially to the explorer of new regions. In inquiries of this kind, however, it is only by careful observations over wide areas, and by the collocation of a great number of facts, that anything like a safe basis for induction can be attained. The effects of hasty and imperfect generalizations in this field have already in many instances been felt to the prejudice of scientific progress. I come before you to-night, therefore, not to lay down any laws or general principles, but to call your attention to certain facts, many of them doubtless known to you, which have forced themselves on my attention, with regard to the associations of various metallic ores and other useful minerals with different series of stratified rocks, and to ask you to aid the progress of this branch of geognostical inquiry. Your observations in the various regions to which you may be called by your professional duties will enable you to determine how far these associations are mere coincidences, and how far they are chemical and geological constants. The associations here to be noticed concern only those mineral species which occur, either distributed through the strata in such a manner as to show that they are contemporaneous deposits, or occupy rifts or gash-veins in these strata, and may be supposed to have been

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

I SHALL proceed in this chapter to tell you about lead. Because this metal is overabundant in wateriness, and also because it has its other substances in poor elemental mixture, it is highly impure. It is called an imperfect, leprous, and little-fixed metal, which it clearly shows itself to be because of the ease of liquefying it and because it is easily converted largely into a dross that is almost earthy and also because of the stain that it leaves when it rubs against anything. Nevertheless, when we consider its effects, we judge it to be a metal that we are greatly indebted to. Even though Nature in creating us has put into our souls such a thirst and desire

Jan 1, 1942

By Herbert Clark Hoover, Lou Henry Hoover

QUALITIES which the perfect miner should possess and the arguments which are urged for and against the arts of mining and metallurgy, as well as the people occupied in the industry, I have sufficiently discussed in the first Book. Now I have determined to give more ample information concerning the miners. In the first place, it is indispensable that they should worship God with reverence, and that they understand the matters of which I am going to speak, and that they take good care that each individual performs his duties efficiently and diligently. It is decreed by Divine Providence that those who know what they ought to do and then take care to do it properly, for the most part meet with good fortune in all they undertake; on the other hand, misfortune overtakes the indolent and those who are careless in their work. No person indeed can, without peat and sustained effort and labour, store in his mind the knowledge of every portion of the metallic arts which are involved in operating mines. If. a man has the means of paying the necessary expense, he hires as many men as he needs, and sends them to the various works. Thus formerly Sosias, the Thracian, sent into the silver mines a thousand slaves whom he had hired from the Athenian Nicias, the son of Niceratus1. But if a man cannot afford the expenditure he chooses of the various kinds of mining that work which he himself can most easily and efficiently do. Of these kinds, the two most important are the making prospect trenches and the washing of the sands of rivers, for out of these sands are often collected gold dust, or certain black stones from which tin is smelted, or even gems are sometimes found in them ; the trenching occasionally lays bare at the grass-roots veins which are found rich in metals. If therefore by skill or by luck, such sands or veins shall fall into his hands, he will be able to establish his fortune without expenditure, and from poverty rise to wealth. If on the contrary, his hopes are not realised, then he can desist from washing or digging. When anyone, in an endeavour to increase his fortune, meets the expenditure of a mine alone, it is of great importance that he should attend to his works and personally superintend everything that he has ordered to be done. For this reason, he should either have his dwelling at the mine,

Jan 1, 1950

By C. W. Hamilton

In the production of crude petroleum for the year 1930 Venezuela again maintained its world rank of second only to the United States. During the latter months of the year Russia forged ahead of Venezuela in daily rate of production, and from the present outlook will probably rank second among the oil-producing countries of the world in 1931. It is now believed Venezuelan production has passed its peak. The producing fields of the Bolivar coastal district, along the east side of Lake Maracaibo, continue to be the principal source of supply. Such fields as Lagunillas, Mene Grande and La Pas were not produced to capacity throughout 1930. During the year, three new fields entered into commercial development: The Rio Tarra field in the District of Colon, State of Zulia; the El Mene de Salto field in the District of Acosta, State of Falcon and the Quiriquire field, District of Piar, State of Monagas. For 1930 the total crude production of Venezuela was approximately 137,424,000 bbl. as compared to 137,739,000 bbl. during 1929, or a decrease of 315,000 bbl. During the past year exports of crude from Venezuela amounted to 137,8.50,000 bbl. as against 130,044,000 bbl. exported during 1929. Crude oil in field storage decreased from 14,138,-000 bbl. at the beginning of 1930 to 9,600,000 bbl. as of Jan. 1, 1931— present crude stocks fill about one half the field tankage available. Drilling operations in the producing fields declined sharply but throughout the year there was maintained a satisfactory potential reserve in the shape of proven territory and closed-in producers. Of the 2555 wells which have been completed in Venezuela, 1571 wells were in production on Jan. 1, 1931. The status of these present producing wells may be classified as follows: flowing 652, pumping 170, gas-air lift 193 and closed-in 556. The ratio of closed-in wells to producing wells declined in 1930, while the number of wells produced by artificial means increased materially. In the Bolivar coastal fields there is now observed a marked decline in gas volume and well-head pressure. Lago Petroleum Corpn. and Venezuela Gulf Oil Co. each have under construction electric plants designed to generate power for pumping wells by electricity. The first units of these plants will be placed in conlmission in the early spring of 1931. Venezuela Oil Concessions, Ltd. has installed a number of stenrn-

Jan 1, 1931

By J. C. Miller

In offshore oil drilling as it is done today, accidental blowouts cause considerable damage lo the environment. Public alarm over such accidents has already resulted in a number of legislative proposals which appear to favor the cessation of all drilling on the Federally owned continental shelf. Present concern for the environment and the increasing water depths associated with offshore drilling suggest the desirability of applying underground mining technology to offshore petroleum exploration. If offshore drilling were to proceed from underground accesses to the continental shelf, accidental damage to surface waters would be avoided, and so would the difficulties of exploring in deep or ice-filled waters. The specific approach proposed here is intended as a preliminary to offshore oil exploration in a known field or geologic structure. The end result of this method would be an on-shore vertical or inclined shaft terminating in an operating tunnel or haulageway as shown in the illustrations. From the haulageway, branching access tunnels would lead to drilling compartments. With this arrangement, it appears likely that one operating tunnel could serve all lessees ill a particular unit operation. Although an inclined shaft is not illustrated, this would probably be more practical than a vertical shaft owing to the length of the casings and the character of other equipment used in oil producing operations.

Jan 1, 1971

By William E. Ford, Edward Salisbury Dana

436. Electrical Conductivity. - The subject of the relative conducting power of different minerals is one of minor interest.* In general most minerals, except those having a metallic luster among the sulphides and oxides, are non-conductors. Only the non-conductors can show pyro-electrical phenomena, and only the conductors can give a thermo-electric current. 437. Frictional Electricity. - The development of an electrical charge on many bodies by friction is a familiar subject. All minerals become electric by friction, although the degree to which this is manifested differs widely. There is no line of distinction among minerals, dividing them into positively electric and negatively electric; for both electrical states may be presented by different varieties of the same species, and by the same variety in different states. The gems are in general positively electric only when polished; the diamond, however, exhibits positive electricity whether polished or not. It is a familiar fact that the electrification of amber upon friction was early observed (600 B. C.), and indeed the Greek name

Jan 1, 1922

Harrison W. Craver, Director The Library of the above-named Societies is open from 9 A.M. to 10 P.M., except on holidays. It contains about 70,000 volumes and 90,000 pamphlets, including sets of technical periodicals and the publications of scientific and technical societies. Members of the Institute, with few exceptions, are forced to spend a portion of their time in localities isolated from sources of information. To these the Library, through its Library Service Bureau, can render valuable service through correspondence; letters requesting information will receive especial attention. The Library is prepared to furnish references and photographic copies of articles on mining and metallurgical subjects; to determine the existence of mining maps, and to furnish general information on the geology and mineral resources of all countries. All communications should be made as definite as possible so that the information received may be what is desired and not include collateral matter which may not be of interest. The time spent in searching for such collateral matter will be saved, and the information will be sent more promptly and in more usable shape.

Jan 5, 1917

By Frederick V. Lawrence

Broadly speaking, fluxes are substances which promote wetting and spreading or enhance the fluidity and manipulative properties of materials in joining, fusion, and smelting operations. The term most strictly applies to substances used to facilitate soldering and brazing; but in the discussion which follows, the definition will be broadened to include materials used to promote fusion in arc welding and which aid in the smelting of metals. In each of the mentioned applications, the role of flux and its composition differs considerably; consequently in the discussion which follows, fluxes for soldering, brazing, arc welding, and smelting applications will be considered separately. Soldering and Brazing Fluxes Soldering and brazing are metallurgical joining processes in which a joint is formed using a filler metal of composition dissimilar to that of the joined pieces (base metal). The filler metal, solder or braze, is always of lower melting point than the base metal. Consequently with these processes there is no melting of the base metal. The successful creation of the joint depends upon the wetting and spreading of the solder or braze around or throughout the joint. The obstacles to successful soldering and brazing are contaminants and tenacious oxide films on the metal surfaces. In soldering and brazing applications, fluxes act to remove and exclude oxides and other impurities from the joint. There is no fundamental difference between soldering and brazing. The distinction between them is made on the basis of temperature. Join¬ing operations carried out at temperatures above 500° C are termed brazing. The higher temperatures used in brazing enable higher melting point filler metals to be used which generally provide stronger joints. The higher temperatures of brazing processes also require fluxes which are substantially different from those used in soldering and which will remain effective at high temperatures. Consequently the distinction between soldering and brazing can also be made on the basis of the fluxes used. Soldering Fluxes Even thoroughly cleaned and degreased, metal surfaces still possess tenacious oxide films which inhibit the soldering of the joint. The reactions which form these films increase with increasing temperature. The rate of oxide formation and the tenacity of the film varies with each base metal. Aluminum, magnesium, stainless and high alloy steels, aluminum and silicon bronzes when exposed to air form hard, adherent oxide films. These metals require highly active and corrosive fluxes to remove and prevent the reformation of oxide films during soldering. Metals such as copper and silver, on the contrary, form less tenacious films at a lower rate, so that mild fluxes are sufficient. Soldering fluxes must dissolve or remove oxides and promote rapid wetting and spreading of the solder. The flux removes the oxide film by loosening and floating it off into the main body of the flux. The oxide removal is often aided by the alloying of the solder with the base metal, undermining small areas of the oxide and detaching them (Anon., 1959). The flux coagulates and suspends the oxide particles which have been loosened. The flux forms a protective cover preventing the reformation of the oxides, permitting the spreading of the solder and the formation of a metallic bond between the solder and the base metal. Constituents of Soldering Fluxes: Soldering fluxes are commonly grouped into three categories: highly corrosive, intermediate, and noncorrosive. One normally would choose to use the least corrosive flux which will give satisfactory performance.

Jan 1, 1983

By H. H. Taft

The mining possibilities of the volcanic area south of Bel-mont, Nye county, Nevada, have long been known. Some of the old-time prospectors knew that gold existed there. Its remoteness from any source of supplies, its long distances from water, the absence of game, and more, perhaps, the lack of grass for animals to subsist upon, has made this an unattractive region in which to search for mines. The decline of the Comstock mines, the exhaustion of sundry large and rich ore-bodies, the high cost of mining, marketing, and, particularly, the ruinously high freight-charges upon refractory ore that had to be shipped to distant smelters, have kept investors out of Nevada for the last few gears; and mining people have hardly yet awakened to the importance of To-nopah, Goldfield, and perhaps the newer and less developed districts. The discovery of Tonopah by J. L. Butler, who located the Mizpah claim in May, 1900, and the fortunes soon realized there, attracted many people. As the boom declined, many went away, some scattering out into the surrounding country, and the population is now about 7,000. In the fall of 1902 a discovery of gold was made 23 miles south, in what is now known as the Sandstorm group, 4 miles NW. of Goldfield. In the winter of 1903—4 the Combination, January and Florence mines were discovered, and shipments of high-grade ore soon followed. In January, 1905, there were 10,000 people in Gold-field. In June, 1904, rich gold-ore was found 85 miles SE., at the foot of the south end of the Kawich mountains, but this discovery was kept quiet until a re-location could be made. On August 10, 1904, the Bullfrog claims, and a month later the Ladd mountain and neighboring claims, were located. The Shoshone group was located September 24. This district is

Jan 1, 1907

By H. Scott

SINCE Böhler discovered, in 1903, on cooling certain alloy steels, the phenomenon of a new and lower temperature transformation than the usual Ar3_2_1 obtained by increasing the maximum temperature to which the material was heated, much has been published' connecting this phenomenon with a large number of dissimilar steels of high alloy content. From the fact that the transformation divides itself, taking place at two widely separated temperatures, it has been called a "split transformation." The, significant facts established by recent investigators' are: that when the' transformation occurs at the higher temperature Ar', troostite or a decomposition product is formed, and that when the transformation occurs at the lower temperature Ar", the resulting structure is martensite. The terminology Ar' and Ar" adopted here is that of Portevin.3

Jan 2, 1919

By Joseph E. Pogue

The outstanding features of 1926 in the petroleum industry included the following: 1. Stocks of all oils (crude and refined) were reduced, making the first annual decline since 1918. 2. Domestic crude oil production increased steadily during the last 11 months of the year, accelerating during the fourth quarter, and ending the year at the highest level ever attained. 3. Three new major oil fields were developed—Panhandle, Spindle-top and Seminole. 4. Important advances were registered in production technique, tending to retard the declines of old wells and to maintain the flush periods of new wells. 5. The problem of gaining greater economic control of production through unit operations and gas conservation received growing recognition by the industry and the Federal Oil Conservation Board. 6. The rate of drilling was sharply increased during the second quarter of the year and suffered only a very slight retardation during the closing months. 7. The runs of crude oil to stills were maintained above normal throughout the year and underwent acceleration during the fourth quarter. 8. The gasoline situation was marked by a continuous and substantial increase in the rate of production of cracked gasoline, and by an improvement in the statistical position of the commodity. 9. Prices of both crude petroleum and its principal derivatives were characterized by more profitable levels and greater stability than for a number of years past; and, while showing declines during the fourth quarter, prices did not recede sufficiently to slow down materially either drilling or refinery operations. Change in Stocks The keynote of 1926 was a reduction in stocks of all oils to the extent of approximately 24,000,000 bbl., or 4.4 per cent., of which roundly

Jan 1, 1927

By T. W. Watson, D. R. Flynn

Measurements have been made of the thermal conductivity and electrical resistivity of two specimens of 0.005-cm (2-mil) Be-Cufoil over the temperature range -140° to +200°C. The thermal cmductivity of Be-Cu Alloy 125 was found to be significantly higher than that of Alloy 25, which had a higher impurity content. The thermal conductivity and electrical resistivity values obtained were in concordance with the Smith and Palmer relation for copper alloys which states that ? = 0.0239 (T/p) + 0.075 where A is thermal conductivity (W cm-' deg-'), p is electrical resistivity (microhm-cm), and T is absolute temperature (OK) , indicating that the Smith and Palmer relation can be used to predict the thermal conductivity of this type of Be-Cu alloy over the temperature range -140" to + 200°C to within an accuracy suitable for most engineering applications. THE National Aeronautics and Space Administration, Goddard Space Flight Center, Greenbelt, Md., requested the National Bureau of Standards to measure the thermal conductivity of 0.005-cm Be-Cu foil which was to be used to fabricate antennae for use in Radio Astronomy Explorer space craft. It was felt that measurements had to be made on the actual antenna material, rather than on a thick bar of similar material, since the cold-working and age-hardening properties of the alloy would make it very difficult, if not impossible, to place a thick bar in the same metallurgical state as the 0.005-cm material. As discussed in Section 111 of this paper, the thermal conductivity of many copper alloys can be computed rather accurately from electrical resistivity data using an empirical relation developed by Smith and palmer' and further confirmed by owell.' However, there has been very little work done on correlating thermal and electrical conductivities on Be-Cu alloys. We were reluctant to assume the validity of the Smith-Palmer relation on Be-Cu alloys because of the very large mass difference between beryllium and copper. As will be seen, however, our experimental results indicate that the Smith-Palmer relation is valid for the two alloys on which we made measurements. I) DESCRIPTION OF SAMPLES Samples of Be-Cu Alloy 25 and Be-Cu Alloy 125 were furnished to NBS in the form of rolled strip material, 0.005 cm thick by 5.08 cm wide. The Be-Cu Alloy 25 was purchased by NBS in the form of a continuous length of flat strip. The Be-Cu Alloy 125 was furnished to NBS by Goddard Space Flight Center in the form of two lengths of strip that had been formed into "tubing" of about 1.2 cm diam, with one side of the strip overlapping (but not connected to) the other side by about 90 deg. This "tubing" had been opened up to be flat and then rolled onto spools of about 3 cm diam. When unrolled, the strip would spring back into tubular form. Samples of both of the Be-Cu alloys were chemically analyzed by the NBS Analytical Chemistry Division. The beryllium content was determined quantitatively by the phosphate-gravimetric method to be 1.83 wt pct for Alloy 25 and 1.80 wt pct for Alloy 125. The two alloys were also examined by a general qualitative spectrochemical method for metallic elements. The Alloy 25 specimen contained between 0.1 and 1.0 wt pct Al, Co, Fe, and Si and between 0.01 and 0.1 pct Ni. The Alloy 125 specimen contained between 0.1 and 1.0 pct Co and between 0.01 and 0.1 pct Al, Fe, and Si. Other metallic elements present were in amounts less than 0.01 pct. The NBS Engineering Metallurgy Section measured the tensile strength, elongation, and Knoop hardness of both the Be-Cu Alloy 25 and the Be-Cu Alloy 125. These are given in Table I. The NBS Engineering Metallurgy Section also prepared photomicrographs of the two alloys; these are shown in Figs. 1 and 2.

Jan 1, 1969

By E. S. Machlin

The kinetics of vacuum distillation, vacuum-melt surface reactions, crucible-melt surface reactions and boiling are analytically investigated. No disagreement with experiment is obtained upon applying a rigid flow model to describe the behavior of the melt in the vicinity of reaction surfaces. The theory focuses attention upon measureable parameters rather than upon the adjustable parameter, stagnant layer thickness, associated with other theories. The rigid flow theory is thus capable of quantitative evaluation and experiments to achieve this evaluation are suggested. KINETICS, rather than thermodynamics, often determine the degree of refinement achieved in vacuum melting. There is little understanding, however, of the kinetic principles involved in vacuum refining. This paper represents an attempt to achieve this understanding. There are two reactions which need to be con- sidered. The first is the refining reaction. The second shall be called the polluting reaction. It is the reaction associated with the introduction of components of the crucible into the melt. The mechanisms of both reactions are unknown. Many models can be constructed to describe either the refining or polluting reactions. For example, consider the refining reaction C + Q = CO(g). One model that can be imagined is that the carbon and oxygen combine in the melt to form CO which then diffuses to a melt-

Jan 1, 1961

By Eli Sani

Investment in the mineral industries-particularly in the mining industry-differs from investment in nonminera1 industries in that the latter have an indeterminate life, assumed to be perpetual, and are not called upon to replace the firm's original investment. In mining ventures, on the other hand, once the ore bodies are depleted the mine has no economic value; the original capital investment must be returned to the investor by the time the ore is exhausted. A mining venture is also characterized by the significant cost and time associated with the exploration phase. A myriad of samples must be taken, geological features investigated, and ore grade assured. In addition, most mining ventures require substantial capital expenditures aggregating several hundred million dollars for a number of years before the project begins producing any revenue. Any theoretical model employed in evaluating a mining venture, as well as similar mineral ventures, must take all these factors into consideration.

Jan 5, 1977