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By William Kelly

I AM-glad to have the opportunity at this time to say that I consider it a very great honor to be elected President of the American Institute of Mining and Metallurgical Engineers. It fulfills the proudest hopes of my ambition. There is, ,however, one drawback to my personal gratification-a feeling of unworthiness to have my name placed on the list with former Presidents of the Institute, with the brilliant Raymond who guided our society for so many years, with the versatile and lovable James Douglas, my first employer and my friend, a most generous benefactor of our Institute, with the skilful Holley, who gave to the manufacture of steel in this country, its first great impulse, to mention only three of the accomplished men who have preceded me. I assume that the honor of my being elected President of the Institute is not merely a personal one but that it should be considered a tribute to the wonderful progress in the art of mining, both underground and in open pits, and in the beneficiation of native copper and iron ores, which have been shown in the Lake Superior District and also a recognition of our members there and elsewhere who are living at the mines and directing the operations, upon the success of which the whole mineral industry depends.

Jan 1, 1924

By Charles G. Yale

(San Francisco Meeting, October, 1911.) A FEW years ago somebody connected with one of those self-constituted bodies of unofficial character, like a Chamber of Commerce, Board of Trade, or State Development Board, started a catch-phrase referring to California as " The Land of Sunshine, Fruit, and Flowers," and the railroad magazines and folders keep it steadily in use, working day and night. Yet it altogether ignores the substance which brought the State into the Union, which peopled it, and which made it famous through-out the world. You ladies and gentlemen who have come from what we here call "the East," have in your own States, no matter which one, sunshine, fruit, and flowers. But your Eastern States, having these things as we do, have not the gold that we do. Therefore, the old designation of "The Golden State," applied to California, should be revived, as being the most distinctive term. It is worthy of remembrance, too, that during the dark days of the civil war this State handed over $172,000,000 in yellow gold, and saved the credit of the nation. Gold-mining has been carried on in California since " The days of old, The days of gold, The days of 49," and it still continues. Since that historic year, and up to the end of 1910, the State has produced, in gold alone, $1,530,214,468. Since 1792 the entire United States production of gold has been $8,261,573,500, so that the single State of California has, in that period, produced within $201,144,564 of one-half of all the gold from Alaska, Arizona, Colorado, Idaho, Montana, Nevada, New Mexico, Oregon, South Dakota, Utah, Washington, and the Southern and scattering States. In other words, all the other 25 gold-producing States of the United States combined

Mar 1, 1912

By F. S. McNicholas, M. S. Walker, V. C. Rogers

During the year of 1944 and the first half of 1945, the Climax Molybdenum Co. made a study of some of the problems in block and panel caving, with the use of a scale model. The experiments dealt essentially with the type of rock and conditions at Climax, but some experiments were carried out to simulate conditions found in other mines. Most of the previous experiments on the caving characteristics of rock have dealt with sedimentary or broken igneous material. The series of experiments described here was designed to show the caving action of unbroken igneous rock. Con- siderable difficulty was experienced in duplicating unbroken material in the model. The results obtained are believed to be relatively correct, but verification must necessarily come from future mine operation. Observations in the mine and glory hole, together with statistical data, were used as criteria for creating similar conditions in the model. In 1913, George R. Lehman' experimented with broken material in a model for the Inspiration Consolidated Copper Co. and, more recently, P. B. Bucky2 experimented with broken material with a capping of mill tailings. Mr. Lehman's model represented a maximum ore height of 70 ft. capped by 55 ft. of waste. He varied the draw-hole spacing from 6¼ ft. to 8? ft. and 12½ ft. The material used graduated from fines to 30-in. maximum size. Some of his conclusions were: "(I) The less the distance between chute centers, the greater the extraction (Fig. I); (2) the higher the ore column, the greater the extraction; (3) the less the amount drawn at a time from each chute, uniformly, the greater the extraction of clean ore before the capping appeared, but not the greater the total extraction to a I per cent copper final product." (Fig. 2.) Professor Bucky concluded, in part: "(I) Drawing of ore may take place at any time from any finger and in any amount without affecting materially: (a)

Jan 1, 1946

By James H. Boettcher, W. Durand Eppler

INTRODUCTION In the second quarter of 1979, Rapid Mining Co., Inc. ("Rapid") inquired whether Crocker National Bank ("CNB") would provide $4 million in term loan financing to help ("Dry Creek") acquire the outstanding shares of the Dry Creek Coal Company ("Dry Creek") in West Virginia. Prior to approaching CNB, Rapid had sought financing with the assistance of a financial advisor from a number of commercial banks without success. A summary of the initial terms requested by Rapid is shown in Table 1 compared with the actual terms on which the transaction closed. It is not difficult to note that the two sets of terms differ significantly. This is often the case when financing requests based on the expectations and vision of a mine developer are juxtaposed with more pragmatic requirements of a commercial bank. The "art" and fund of structuring financing plans for mining ventures (highly leveraged acquisitions or grass roots) comes in working with mine developers to arrive at a final financial structure that meets their objectives and constraints as well as those of the bank or other financial institutions providing much of the financing. Beginning with the terms requested by Rapid and ending with the terms that closed the transaction, this article briefly describes the process we went through with Rapid Mining. The Seller and Buyer The Dry Creek Coal Company was established in 1961, after its owner acquired the coal leases from Republic Steel. Republic has mined the primary coal seam from 1948-1961. Dry Creek was owned as a subchapter S corporation (i.e., for federal income tax purposes, income is taxed at the shareholder level) and had been run on a low key basis. Since the company had virtually no debt and limited cash needs, the owner produced primarily when rail cars were available and income was required. Output was therefore erratic as is shown in the top of Table II, but the result was a profitable little company with an attractive free cash position. Because the owner wished to retire and enjoy his wealth in a more readily spendable form, he had put the mine, with stated recoverable reserves of approximately 13 million tons, up for sale. In contrast, Rapid Coal's investors consisted of a number of investors of disparate financial situations. They had agreed upon a primary objective of income maximization and planned an annual production rate of 120,000 TPA which they and the current owner believed realizable. The Formulation of a Financing Structure Figure 1 presents a simplified overview of the sequence of steps taken in the financing process which lasted approximately three months from start to finish. Since banks see many requests for funding and considerble time is required to follow up on each, an important step was determining, after a brief review of the materials provided to us, whether the basic "eonomic entity" was viable. In this case, the size and quality of the reserves, the inherent operating cost characteristics, the sales arrangements, the management/labor situation and Rapid's principles all appeared to be sound enough to warrant investing the time necessary to do a thorough analysis of the project. Once this decision was made, the evaluation and analytic process shown in Figure 2 was initiated. The first and most fundamental concern of any banker is whether the loan will be paid back as scheduled from the cash flow generated by the project. The amount of debt relative to the owner's equity is of course crucial in such a determination. Before the debt/equity issue was addressed, however, a number of more qualitative factors had to be studied and if

Jan 1, 1985

By A. E. Deruyttere, J. Van der Planken, M. Laurent, Van den Bergen

FahRENHORST and schmid1 observed that zinc single crystals work hardened less rapidly when strained in liquid air (- 185°C)than in a bath at -82°C, whereas at higher temperatures the rate of work hardening decreased with increasing temperature, as would be expected. Cadmium and magnesium showed no such decrease at -185°C. At that time the observed anomaly for zinc at liquid air temperature probably seemed insignificant. However it later was confirmed2 by experiments in liquid nitrogen (-196°C) and in the mixture solid carbon dioxide-acetone (-77"C) and therefore appeared to be real. seeger3 then suggested that the anomaly might be due to the different wetting of the zinc crystals by the cooling media. Recently a new confirmation was obtained,4 however the cooling media again were different: the rate of strain hardening was found to be lower in liquid nitrogen and liquid oxygen than in pentane cooled to various temperatures down to -126°C. Ekperiments will now be reported in which the medium surrounding the specimen at the different temperatures was the same, namely gaseous air. The single crystals were made from "Overcor 99.99" zinc. They were grown in a vertical traveling furnace on seeds of nearly the same orientations. The diameter of the crystals was 5 mm and the length between shoulders 140 mm. The brass shoulders were stuck to the crystals by means of araldite. A thin steel wire was fixed to each shoulder and served to fasten the specimen to a Houns-field tensile testing machine. The crystals with the shoulders and part of the wires were surrounded by two concentric cylindrical containers. The coolant. either liquid air or ground solid carbon dioxide, was poured into the outer container only. During cooling the containers rested on a support which was removed when the straining was started. In order to check the temperature which the crystals would attain inside the inner container, a hollow bar of zinc in which a thermocouple was fitted was first mounted in the apparatus as a substitute for a crystal. It appeared that a constant temperature, respectively - 183° and -72°C, was attained inside the bar, if a soaking time of the order of 1 hr was allowed and if the outer container was constantly kept filled. Accordingly, this procedure was adopted for every tensile test. To take account of the large scatter, fourteen tensile tests were performed with liquid air and seven with solid carbon dioxide. The orientation of the crystals and the results are presented in the table, in which the symbols have the following meaning: 1 : temperature x : initial angle between basal plane and specimen axis : initial angle between slip direction and specimen axis a : shear strain at fracture 0: average rate of strain hardening = —-——- 100 t0 and Te representing respectively the critical shear stress and the shear stress at fracture. Despite the scatter of the a- and 8— values which is of the same order of magnitude as in the work reported by Seeger and Trzuble,4 it is evident that the strain hardening rate is significantly lower at -183°C thanat-72°C. The table also contains the average values calculated from Seeger and Trauble's results at the corresponding temperatures: z.e., four results at -183oC and two at-70°, -71°C. These authors calculated 9 in a slightly different way, but this is unimportant. The agreement between the a-values shows that both sets of experiments are comparable despite the differences in experimental techniques. The rates of strain hardening also agree and it may therefore be concluded that the anomaly is not

Jan 1, 1962

In the January Bulletin a list was published of Societies' publications, magazines, etc., which were duplicates and were discarded at the time of-the consolidation of the libraries of the three Founder Societies. A second list published herewith includes text books which are duplicates and which will be disposed of about April 1, 1916, by the Board of Directors of the Institute through the, Library Committee.. If, meanwhile, members desire to secure some of these books, they are asked to communicate at once with the Secretary as. this is an unusual opportunity to secure books at an extremely low price. Airy, George Biddell.-Magnetism, London, 1870, Bd. Alberti, Friedrich von.-Halurgische geologic. Erster Band. Zweiter Band. Stuttgart, 1852, Bd. American Iron and Steel Association.-Ann. Rep. of the Sec'y. Statistics of American and, Foreign Iron Trades, 1877. Phila., 1877, Bd. Same, for year 1878. Phila., 1879, Bd. American. Telephone and Telegraph Co.-Ann. Rep. of Directors to Stockholders, 1911. N. Y., 1912, paper. Armagnat, H.-Induction Coils. Trans. by Otis Allen Kenyon, N. Y., 1908, Bd. Armstrong Cork Co. Insulation Dept. Nonpareil Corkboard Insulation. Pittsburgh, 1909, Bd. Associazione fra gli Industriali Metallurgici Italian.-The Metallurgic industry of Italy. Description of some of the principal works. Milan, 1911, Bd.

Jan 2, 1916

MORE than 5000 miners and suppliers descended upon Denver to make the American Mining Congress' four-day metal mining show one of the most extravagant equipment displays ever assembled in one place at one time. The most recent developments in equipment for mining, milling, and processing ore were shown by the 146 exhibitors at Denver's new City Auditorium which covers 57,000 sq ft of floor space. Other displays were placed in the open air opposite the auditorium site. Registration desks were opened Sunday, Sept. 21. A field trip to the Colorado School of Mines at Golden was the featured activity of the day. Official opening of the show took place on Monday, and presided over by Howard I. Young, president of American Zinc, Lead & Smelting Co.; Otto Herres, vice president, Combined Metals Reduction Co.; William J. Coulter, vice president, Climax Molybdenum Co.; Charles B. Stainback, Westinghouse Electric Corp.; and Merrill E. Shoup, president, Golden Cycle Corp. Convention welcoming addresses were delivered by a representative of Mayor James Q. Newton, of Denver, and Gov. Daniel V. Thorton of Colorado. Following the formal opening ceremonies a round table discussion dealt with the "Paley Commission Report" formally called Resources for Freedom. Participating in the panel were: Arthur H. Bunker and George R. Brown, members of the Paley commission; H. I. Young, president of the American Mining Congress; Horace M. Albright, president of U. S. Potash Co.; Evan Just, vice president, Cyprus Mines Corp.; Donald H. McLaughlin, president, Homestake Mining Co.; E. H. Snyder, president Combined Metals Reduction Co.; Simon D. Strauss, vice president, American Smelting & Refining Co.; Sen. H. C. Dworshak (R.-Idaho) ; Ira B. Joralemon, consulting engineer; Jess Larson, De fense Materials Procurement Agency; and Andrew Fletcher, president of St. Joseph Lead Co. The panel discussed the report for six hours, adding a great deal of information to the already voluminous amount which has been gathered concerning it. Three objections to the report frequently mentioned were: 1-the multilateral contract; 2-international buffer stocks; 3-international buffer stocks combined with limited quota arrangements. Points on which the panel commended the report were its recommendations for acceleration of topographic and geologic mapping of the United States and Alaska; recognition of the principle of percentage depletion for metals and minerals; and advocation of removal of the present limitations on the expensing of exploration costs applicable to minerals. Technical sessions were held throughout the four days of the meeting. Included in the program were: Progress in Mechanication; Small Mines; Public Lands; Open Pit Mining; Manpower-Labor Relations; Shaft Sinking; Roof Support; Taxation, Gold, Silver and Monetary Policy; Advances in Mill Practices; Special Conference on Strategic Materials; Uranium Mining-Atomic Energy; Prospecting and Exploration; New Metallurgical Processes; and Rock Breaking. About 45 papers and several panels were presented during technical sessions. Formal and informal social functions consumed the remaining time of the convention. Three locations were needed to handle the huge throng attending the Mining Jamboree Monday evening. The only other sponsored social function took place Thursday evening. A great many informal gatherings, chiefly convivial, were held in manufacturers' courtesy rooms-called wet stopes. Field trips included Cripple Creek, Pueblo, Climax -Leadville-Gilman, Colorado Plateau-Grand

Jan 1, 1952

By L. D. HUNTOON

MY first article on Canadian Gold, published in the Canadian Mining Magazine in 1911 expressed the view that the Hollinger mine would repay all the money invested and that other mines would be developed in this area. Many published forecasts have since been made. Quoting from the Northern Miner of Oct. 29, 1931: "It will be noted in studying the chart prepared by this engineer that his forecast for 1931 at $50,000,000 was too modest, as the output for this country this year will be closer to $54,000,000."

Jan 1, 1932

By R. K. Young

This paper describes a computer-based Data Acquisition System which provides efficient data logging and retrieval, control of on-line gas chromatographs, and instantaneous calculation of material and energy balances.

Jan 1, 1977

By Charles H. Jones

Jan 1, 1905

Jan 1, 1939

By R. P. Carreker, R. L. Fullman, J. C. Fisher

CREEP tests are usually constant load tests. As deformation occurs, the cross section of the specimen changes so as to maintain approximately constant volume. Until necking starts, A _ l0 A0 - 1 where A is the cross-sectional area, 1 is the specimen length, and the subscript o indicates initial values. Thus, during a tensile creep test under constant load, the stress increases in proportion to the elongation. A A, 1, where S is the stress and F the load applied to the specimen.

Jan 1, 1954

By F. Bahnemann

IN discussing the problem of abnormal magnetic polarization, C. A. Heiland1? emphasized the unfortunate fact that our knowledge of the geological and physical conditions relating to such occurrences is very limited and that a more detailed insight into their physical causes would be extremely valuable for interpreting measured anomalies. He also pointed out that to arrive at quantitative physical formulas that would express the conditions that cause abnormal polarization many more occurrences of the kind would have to be recorded. The first part of this paper is a contribution to such descriptions.

Jan 1, 1935

By Herbert A. Stein, John B. Murdock

Perlite is a natural volcanic glass which expands into an insulation material upon the application of heat. This paper discusses the operating characteristics of eight different types of furnaces for the expansion of perlite. It also includes a section on the theory of perlite expansion which serves as the basis for the authors' analysis of the furnaces.

Jan 1, 1950

Jan 1, 1903

By S. A. Ford

I would like to call the attention of our Bessemer steel manufacturers to a few facts in regard to the action of the manganese in the spiegel with the oxide of iron in the blown iron. The oxygen is united with the iron as a magnetic oxide, as Gautier asserts, and this oxide is reduced to a protoxide by one atom of the manganese uniting with one atom of the oxygen of the magnetic oxide of iron. This oxide of manganese and the protoxide of iron thus formed unite with the silica which has been formed by the oxidation of the silicon in the pig iron. Mr. Snelus and others

Jan 1, 1881

The attached tables show that in 1935 production of crude oil in Poland slightly decreased (minus 14,450 tons) and that gas production

Jan 1, 1936

The attached tables show that in 1935 production of crude oil in Poland slightly decreased (minus 14,450 tons) and that gas production

Jan 1, 1936

Jan 1, 1940

By John V. Beall

Beall: Mr. Bennett, you have had a very successful -and a very colorful-career in mining. Would you tell us about your first job in the mining industry? Bennett: I was a mine surveyor on the Mesabi and Marquette ranges, working both open pit and underground. I worked two years for the Meriden Engineering Co., formerly the Meriden Iron Co., which was founded in 1904 to operate mines and to act as a lessors' agent for inspection. At the time I was there, Meriden was operating one open pit and one underground mine, and acting as agent or inspector for some lessors, the owners of the fee interest.

Jan 1, 1968