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Jan 1, 1925

[PRESIDENT SAMUEL A. TAYLOR, . . . . District 3 . . . . PITTSBURGH, PA. PAST PRESIDENTS WILLIAM KELLY, District 5 . IRON MOUNTAIN, MICH. J. V. W. REYNDERS District 3., NEW YORK, N. Y. FIRST VICE-PRESIDENT E. DEGOLYER, NEW YORK, N. Y. TREASURER CHARLES F. RAND, NEW YORK, N. Y. SECRETARY H. FOSTER BAIN, NEW YORK, N. Y. ASSISTANT SECRETARY THOMAS T, READ, NEW YORK, N. Y.]

Jan 1, 1928

By Walter W. R. May

FOR more than 25 years a few business men who represent virile private enterprise in the Pacific Northwest have been trying to awaken the community to the potential benefits of an open Columbia River. No threat of government com- petition then hung over the industry, which was adjusted to state regulation. Numerous sites were engineered and the findings were laid before the operators of heavy industry in the East, Middle West, and South -even of Europe. These engineering data became, if not the basis, the inspiration upon which the U. S. Army Engineers eventually were to "build the Columbia River Bible" - their great document known as House Document 103, the report on the Columbia River and minor tributaries.

Jan 1, 1940

By E. J. Duggan

CLIMAX ore is an altered and highly silicified granite, about half of the gangue being quartz. Molybdenite is the only mineral recovered and most of it is intimately associated with the quartz in fine veinlets. Other minerals are molybdite, pyrite, and chalcopyrite. Although the molybdite may be readily extracted by hydrometallurgical methods, its content is too low to make this profitable. The pyrite ranges from 2 to 5 per cent and the chalcopyrite from 0.03 to 0.05 per cent. There is not enough copper to make its recovery attractive and one of the problems is its elimination, and that of pyrite iron, from the final product. On account of the high degree of dissemination of the molybdenite and the necessity of eliminating the iron and copper, fine-grinding followed by flotation is the only known feasible method of concentration. Two factors, peculiar to Climax ore, have a predominating influence on the metallurgical attack: (1) Molybdenite is one of the most easily floated minerals. High recoveries may be made with pine oil alone if the

Jan 1, 1946

By WILLIAM BOWIE

IN most human endeavors a knowledge of the terrain is essential to the effective carrying out of projects, but no line of work is more dependent on maps than theoretical and applied geology. Maps of a kind do exist for all of the area of the United States, but most of them are crude affairs and of little use in engineering, planning, and scientific research. Topographic mapping in the United States was initiated on a national scale by the U. S. Geological Survey and the organizations that were merged in its creation to make base maps for geologists. Their work could not be effectively done then and cannot be effectively done now without maps that accurately delineate the earth's surface. The distribution of the rock masses that contain valuable mineral bodies, or that by their intrusion brought them into existence, is the first step in a study of the mineral resources of the nation. This work requires three-dimensional maps, that is, topographic maps on which the land forms are shown by contours.

Jan 1, 1938

By Hans Lundberg

N OT so long ago, the discovery of an orebody took place only by accident. At the present time mineral deposits, even though concealed, may be revealed by their physical or geophysical characteristics, considered in connection with geological studies. Geophysical methods are based on sound, scientific principles and in no sense partake of the mysteries of "divining-rod " methods. Geophysical methods are divided into two main groups: Group I: Methods where fields of force surrounding mineral deposits are investigated (magnetic, gravitometric, electric) ; Group I1 : Methods where fields of force are applied (produced) and anomalies caused in these fields by mineral deposits are recorded (electric, seismic). By methods belonging to Group I, the investigation of the fields of force may be brought to an astonishing degree of accuracy by means of highly sensitive and delicate apparatus (torsion and magnetic balances) ; at least, in simple cases these methods have proved to be of great value.

Jan 1, 1925

PRESIDENT WILLIAM L. SAUNDERS,1 NEW YORK, N. Y. PAST PRESIDENTS CHARLES F. RAND,1 NEW YORK, N. Y. BENJAMIN B. THAYER,2 NEW YORK, N.Y. FIRST VICE-PRESIDENT PHILIP N. MOORE,1 ST. Louis, Mo. TREASURER GEORGE C. STONE,' NEW YORK, N. Y SECRETARY EMERITUS ROSSITER W. RAYMOND NEW YORK, N. Y. SECRETARY BRADLEY STOUGHTON NEW YORK, N. Y.

Jan 6, 1915

By R. E. Ogilvie, H. C. Gatos, R. E. Hanneman

The effect of high pressure on the stability of the (any phase transformation in the Fe-V system was studied by experimental and theoretical methods. The maximum solubility limit of the y loop of the atmospheric phase diagram was found to increase by a factor of five at 40 kbars pres-sure. The solubility limits of (Y and y phases are calculated on an approximate thermodynamic basis at pressures of 20, 40, and 50 kbars as a function THE high-pressure behavior of the a =^ y transformation in iron and iron-base alloys has been the subject of considerable interest recently. For those binary or higher-order alloy systems possessing a closed y loop, the effect of pressure is to extend the region of solubility of the more dense y phase. Although quite accurate calculations have been made of the a y temperature-pressure diagram of pure iron,' only very approximate thermodynamic calculations or experimental measurements have been made of the pressure dependence of a ^ y equilibria in binary systems exhibiting a y loop.2"4 of temperature and are found in excellent agreement with experimental results. The experimental high-pressure phase diagrams were determined using binary diffusion couples diffused under simultaneous conditions of high pressure and temperature and analyzed with an electron microbeam probe. Approximate calculations of the stabilizing effect of high pressure on the o phase are qualitatively confirmed by experimental results. These previous calculations have primarily dealt with the slopes of the allotropic a (Y= y phase boundary at terminal solubility. The lack of detailed understanding or accurate experimental results of the pressure dependence of the two-phase a ^ y field has been due, in part, to the types of experimental methods previously employed. The primary purposes of the current paper are twofold: 1) to develop and make use of thermodynamic expressions with the aid of supplementary data, to approximately calculate the pressure dependence of the entire y loop and the two-phase ((Y + y) width in the Fe-V system; and 2) to accurately determine the corresponding experimental high-pressure phase diagrams. The current paper describes the powerful method used which enables the simultaneously measurement of phase equilibria and diffusion under high pressure and temperature. A second paper, part 11, will deal with the effect of high pressure on binary diffusion in the Fe-V system.

Jan 1, 1965

INTRODUCTION Trade financing is a particularly important component of short-term financing for a minerals company since errors, extra costs, or payment delays/defaults can easily wipe out the profit margin on a particular shipment or can cause problems when arranging purchases of e.g. reagents. It is required to make any minerals operation function and does not have to be cross-border to require proper management. Sources of working capital are as follows: 1. Extended credit terms from suppliers 2. Inventory loans from banks, finance companies 3. Accounts receivable financing or factoring 4. Credit lines or overdraft facilities from banks. TRADE CREDITS These are provided under the familiar terms "net 10 days" or payment due by the "10th day of the following month." Thirty days for payment is usual but longer periods can be negotiated with regular suppliers. Shipment may be made on open account with specified periods for settlement. In the mining industry, a custom smelter gains trade credit by paying for concentrates three months after the month of shipment. INVENTORY LOANS Various forms of inventory finance are provided via "floor-plan" or warehouse financing. A set percentage, usually 60%-80%, of a good-quality, readily saleable inventory item (e.g. bullion, concentrates, ingots) will be provided by a bank or finance company which will usually have security over these products and has a right to inspect the goods from time to time. Legal security will he achieved by warehouse receipts, floating liens, chattel mortgages, trust receipts, or through collateral management service companies. The latter certify control over stock or distribution outlets and often carry insurance against fraud. Costs range around 1.5% - 2.0% p.a. or more plus some fees to cover out-of-pockets or other costs. ACCOUNTS RECEIVABLES Accounts receivable financing is based on the company's generation of satisfactory receivables which are continuously assigned to a bank or finance company ("factoring"). Because of the risks in being able to collect receivables, such as payments to a smelter for its blister copper shipments to a refinery, this form of financing costs as much as 3% - 5% of the debt amount purchased plus an additional charge for processing paperwork. Receivables can be purchased with or without recourse and on a notification or non-notification basis to the client's customer to, respectively, pay the invoice directly to the bank or not. LETTERS OF CREDIT Letters of Credit ("L/C's") are a common feature of international trade finance whereby a bank, at the request of the buyer, issues a written undertaking to an exporter to pay a specified sum of money within a set time on presentation of previously specified documents. This undertaking means that the exporter is no longer relying on the credit standing and integrity of the foreign importer. A dispute about shipment does not otherwise affect the obligation to pay upon presentation of a "clean" set of documents. These documents include the hill of lading and other documentation, often on standard "form" bases. There are a number of conventions and techniques in L/C's such as irrevocable/revocable L/C's, time L/C's, confirmation/advising L/C's and transferable L/C's. These are tools to adjust for the varying risks that the importer will not pay. Other routes where one is comfortable with an importer include documentary sight hills (D/P hill), documentary term bills (D/A bill), and, of course, open account.

Jan 1, 1985

By ALFRED T. BARR

In certain areas of the New Cornelia pit, considerable secondary blasting is necessary to reduce oversized boulders, formed from primary blasting, to pieces which will pass the 41/2-cu yd dippers on the shovels. Some of the boulders are 'dobied, but when time permits they are blockholed and blasted. In most instances one hole drilled to a depth of 2 to 3 ft and blasted with 1/3 to 1/2 of a stick of powder will break a boulder satisfactorily. Blockholing is normally done by using a jackhammer of the 55-lb class, 1-in. round drill steel, and detachable steel bits, 2-in. gauge when new. A bit change is usually made after the completion of each hole. The use of light drilling equipment in blockholing is desirable, both from the standpoint of safety and ease of doing the work, and when it was seen there was a possibility of using a lighter jackhammer through the use of tungsten-carbide bits and at the same time get at least the same drilling efficiency as with the standard equipment, it was decided to test tungsten-carbide bits. The claims for long life of the bits and footage drilled before resharpening gave hopes of eliminating much of the delay time in changing bits which is unavoidable with the use of steel bits. and thus gain in actual drilling time.

Jan 1, 1949

By AIME AIME

The 102d meeting of the Institute was held at the Institute headquarters in the Engineering Societies Building, New York, N. Y., on Feb. 19, 20 and 21, 1912. A Bureau of Information, in charge. of Mr. George Buckman, was maintained during the meeting. The proceedings opened with an informal social meeting on Monday evening, Feb. 19, in Assembly-Room No. 1, on the

Mar 1, 1912

For the year ending February, 1917 PRESIDENT L. D. RICKETTS, 1............... NEW YORK, N. Y. PAST PRESIDENTS BENJAIMN B. THAYER.1 ............... NEW YORK, N. Y. WILLIAM L. SAUNDERS,P ................ NEW YORK, N. Y. FIRST VICE-PRESIDENT SIDNEY J. JENNINGS,1 .....,...... ., .... NEW YORK, N. Y. TREASURER GEORGE C. STONE,l. ................ NEW YORK, N. Y. SECRETARY EMERITUS ROSSITER W. RAYMOND, .... .,. .......... NEW YORK, N. Y

Jan 9, 1916

By Bjorge, Guy N.

MINING method improve through the gradual process of evolution and in 1340 there were no marked outstanding innovations. On the other hand refinements of detail and betterment: in equipment design continued to progress. Among the most important changes have been the increased application of trucks and highway equipment, including tractors and bull- dozers, to open-pit mining as exemplified by Phelps Dodge's Morenci operations; the Mesabi iron range; and the Tri-State district. Mass or bulk handling contributed its part underground with slurhers and conveyors at Consolidated Coppermines and slushers at Climax; and in open-pit mining. conveyors found increased use on the Mesabi range.

Jan 1, 1941

For the year ending February, 1918 PRESIDENT PHILIP N. MOORE ST. Louis, Mo. PAST PRESIDENTS WILLIAM L. SAUNDERS NEW YORK, N. Y. L. D. RICKETTS, NEW YORK, N. Y. FIRST VICE-PRESIDENT SIDNEY J. JENNINGS, NEW YORK, N. Y. TREASURER GEORGE C. STONE, NEW YORK, N. Y. SECRETARY EMERITUS ROSSITER W. RAYMOND,.. NEW YORK, N. Y. SECRETARY BRADLEY STOUGHTON NEW YORK, N. Y.

Jan 3, 1917

For the year ending February, 1918 PRESIDENT PHILIP N. MOORE, ST. Louis, Mo. PAST PRESIDENTS WILLIAM L. SAUNDERS NEW YORK, N. Y. L. D. RICKETTS, NEW YORK, N. Y. FIRST VICE-PRESIDENT SIDNEY J. JENNINGS, NEW YORK, N. Y. TREASURER GEORGE C. STONE, NEW YORK, N. Y. SECRETARY EMERITUS ROSSITER W. RAYMOND, NEW YORK, N. Y. SECRETARY BRADLEY STOUGHTON ` . . . . NEW YORK, N. Y.

Jan 7, 1917

By Morris Cohen

STAFF: Editor, Gerhard Derge Acting Editor, Paul G. Shewmon Carnegie Institute of Technology Schenley Park Pittsburgh 13, Pa. Editorial Assistant, M. A. Redmerski Production Editor, Otto T. Johnson THE METALLURGICAL SOCIETY: Karl L. Fetters, President; J.S. Smart, Jr., Past-President; R. C. Cole, Vice President; R. L. Hennebach, Treasurer; R. W. Shearman, Secretary. PUBLICATIONS COMMITTEE OF THE METALLURGICAL SOCIETY: W. O. Phil-brook, Chairman; H. L. Bishop, R. C. Cole, J. N. Hobstetter, W. A. Krivsky, E. R. Morgan, F. C. Langenberg, R. E. Lund, Paul Queneau, L. L. Seigle, R. L. Smith, and T. V. Wainwright. Review and selection of manuscripts is under the supervision of the following Publicotions Committes: Extractive Metallurgy Division: R. E. Lund, Chairman; M. E. Wadsworth, Vice Chairman; D. H. Baker, Jr., G. M. Bell, R. E. Grace, W. A. Krivsky, R. A. Lewis, Charles O'Neill, A. W. Schlechten, R. E. Shinkoskey, and W. W. Stephens. Iran and Steel Division: T. V. Wainright, Choirman; H. L. Bishop, R. E. Boni, T. E. Dancy, D. W. Murphy, Johannes M. Uys, J. B. Wogstoff, and R. G. Ward. Institute of Metals Division: J. N. Hobstetter, Chairman; P. A. Beck, J. J. Becker, G. F. Bolling, J. 0. Brittain, J. B. Clark, R. S. Davis, A. E. Dwight, R. W. Fountain, L. R. Girifolco, J. C. Gurland, H. S. Kalish, E. L. Harmon, J. J. Heger, A. A. Hendrickson, L. Himmel, J. P. Hirth, H. H. Johnson, Jr., R. R. Nosh, T. N. Rhodin, R. H. Richman, H. C. Rogers, W. Rostoker, C. Sherby, C. W. Spencer, L. Slifkin, J. K. Stanley, R. Steinitz, H. C. Stumpf, and R. Swalin. Published bimonthly by the Americon Institute of Mining, Metallurgicol, and Petroleum Engineers, Inc., 345 East 47th Street, New York 17, N. Y. Telephone PLaza 2-6800. Subscription $30 peryear for non-AIME members in United States and North, South, and Centrol America; $32, foreign; $30per$7.50 for AlME members. Single copies, $6.00, single copies foreign, $6.50. The AlME is not responsible for any stotement made or opinion expressed in its publications ... Copyright 1962 by the American Institute of Mining, Metallurgical, and Petroleum Engineers, Inc. . . . Registered cable address, AlME New York . . . Indexed in Engineering Index, Industrial Arts Index, and Chemical Abstracts . . . Second class postage paid at New York, N. Y., and Ann Arbor, Mich. Volume 224, Number 4.

Jan 1, 1962

PRESIDENT. CHARLES F. RAND,1 NEW YORK, N. Y. PAST PRESIDENTS. CHARLES KIRCHHOFF,1 NEW YORK, N. Y. JAMES F. KEMP,2 NEW YORK, N. Y. FIRST VICE-PRESIDENT. BENJAMIN B. THAYER,1 NEW YORK, N. Y. TREASURER. GEORGE C. STONE,1 NEW YORK, N. Y. SECRETARY EMERITUS. ROSSITER W. RAYMOND NEW YORK, N. Y.

Jan 5, 1913

By G. V. Kurdjumou

STAFF: Editor, Gerhard Derge Acting Editor, Paul G. Shewmon Carnegie Institute of Technology Schenley Park Pittsburgh 13, Pa. Editorial Assistant, M. A. Redmerski Production Editor, Otto T. Johnson THE METALLURGICAL SOCIETY: Karl L. Fetters, President; J. S. Smart, Jr., Past-President; R. C. Cole, Vice President; R. L. Hennebach, Treasurer; R. W. Shearman, Secretary. PUBLICATIONS COMMITTEE OF THE METALLURGICAL SOCIETY: W. 0. Phil-brook, Chairman; H. L. Bishop, R. C. Cole, J. N. Hobstetter, W. A. Krivsky, E. R. Morgan, F. C. Langenberg, R. E. Lund, Paul Queneau, L. L. Seigle, R. L. Smith, and T. V. Wainwright. Review and selection of manuscripts is under the supervision of the following Publications Committes: Extractive Metallurgy Division: R. E. Lund, Choirmon; M. E. Wodsworth, Vice Choirmon; D. H. Boker, Jr., G. M. Bell, R. E. Grace, W. A. Krivsky, R. A. Lewis, Chorles O'Neill, A. W. Schlechten, R. E. Shinko~ke~, and W. W. Stephens. Iron and Steel Division: T, V. Wainright, Choir- mon; ti. L. Bishop, R. E. Boni, T. E. Doncy, D. W. Murphy, Johonnes M. Uys, J. B. Wogstaff, ond R. G. Word. Institute of Metals Division: J. N. Hobstetter, Choirmon; P. A. Beck, J. J. Beckar, G. F. Boiling, J. O. Brittain, J. 0. Clark, R. 5. Davis, A. E. Dwight, R. W. Fountain, L. R. Girifolco, J. C. Gurlond, H. S. Kolish, E. L. Harmon, J. J. Heger, A. A. Hendrickson, L. Himmel, J. P. Hirth, H. H. Johnson, Jr., R. R. Nosh, T. N. Rhodin, R. H. Richrnon, H. C. Rogers, W. Rostoker, O. Sherby, C. W. Spencer, L. Slifkin, J. K. Stanley, R. Steinitz, H. C. Stumpf, ond R. Swolin. PuUlished bimonthly by the American lnstitute of Mining, Metallurgical, and Petroleum Engineers, Inc., 345 East 47th Street, New York 17, N. Y. Telephone PLaZa 2-6800. Subscription $30 peryear for non-AIME members in United States and North, South, and Central America; $32, foreign; $30peryear$7.50 for AIME members. Single copies, $6.00, single copies foreign, $6.50. The CentralAmerica;AlME is not responsible for any statement made or opinion expressed in its publications ... Copyright 1962 by the American Institute of Mining, Metallurgical, and Petroleum Engineers, Inc. . . . .Copyright.Registered cable address, AIME New York . . . Indexed in Engineering Index, Industrial Arts Index, and Chemical cableaddres .. . AlME class postage paid at New York, N. Y., and Ann Arbor, Mich. Volume 224, Number 3.

Jan 1, 1962

By George W. Friesen

This paper presents the historical trend and de- fines the causes of drilling cost escalation in the Gulf of Mexico during the 1970's. The three major components of escalation are: 1) inflation, 2) supply-demand imbalance (demand pull) and 3) decreases in drilling efficiency. The decade was divided into three periods. During each period one component of escalation was responsible for most of the rise in costs. From 1970 through 1973 only inflation pushed costs upward. During 1974 and 1975 a supply- demand imbalance caused most of the escalation. Since 1975, decreases in drilling efficiency have produced the major component of escalation. During any one year or period of years, the sum of the three components will give the total escalation rate. The reasons why different components contribute more toward escalation during certain years than others are shown by following the timing of oil and gas price increases, the overall quality of the acreage offered each year in offshore lease sales and the resulting drilling activity.

Jan 1, 1982

By W. E. Wrather

DURING the war the mineral industry, and metal mining in particular, extended itself more than any other to attain the limit of its productive capacity. Likewise, probably no other industry went quite so far toward jeop¬ardizing its own economic future through depletion of material reserves. Once we looked to Europe for most of the manufactured goods we needed. Our own limited mineral requirements were easily supplied from mines near the Eastern seaboard. With expansion and industrialization, our mineral needs increased in proportion, and the centers of mining activity moved westward to Michigan, Wisconsin, Minnesota, and the Tri-State district, where seemingly inexhaustible high-grade deposits of iron, copper, lead, and zinc ores were opened and rapidly developed.

Jan 1, 1946