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By J. T. Mackenzie

Henry Marion Howe, in whose memory we are gathered together, was one of the great thinkers who develop from time to time to whom is given the rare gift of synthesis. Analysis is given to few, but synthesis, the ability to show the relation of all parts to each other and thus to give a clear picture of the whole, is reserved for the very few. Analysis can be achieved by honesty, intelligence, and industry, but synthesis is only given to genius. Professor Howe's crowning achievement is the picture of the whole iron-carbon series shown in Fig. I, which places steel, malleable, gray iron, mottled and chilled irons in their proper relation to each other and shows the essential unity of the series. Perhaps his best statement of the case is found on page go of the Metallography of Steel and Cast Iron in these words: " Each member of the gray cast-iron series consists of the metallic matrix approximately equivalent to that member of the steel-white-cast-iron series to which it corresponds in percentage of combined carbon with its continuity broken up—by masses of graphite ..." Apparently he had taken considerable interest in this idea around the turn of the century, for he refers to a discussion at the Franklin Institute in I900 in which he said: "Though many others had probably conceived this relation between the steels and cast irons, it was here enunciated for the first time, so far as I know. It was received with great incredulity." The concept was explained in some detail in a paper on "The Constitution of Cast Iron" presented before the A.S.T.M. in 1902 when Professor Howe was retiring president of that young society. In the discussion Dr. Sauveur stated that he was "very well acquainted with Professor Howe's theory of the constitution of cast iron," and went on to say that while he "shared it to the fullest extent, some foundrymen . . . claim cast iron is a metal entirely different from steel . . . that steel and cast iron have very little in common, and that therefore the knowledge gained in the study of steel is of little or no value in the study of cast iron." Dr. Moldenke, in discussing the same paper, said he had been working on the same theory for 12 years but he laid no claim to publication. Discussing the difference in the micro-structure of the metallic matrix, Professor Howe pointed out that "such minor structural differences are indeed to be expected, because of the difference in the conditions under which these constituents are generated. "One difference in these conditions is that the steel of most micrographs has been either forged or at least treated thermally in such a way as to give a new structure radically different from that which formed during the initial solidification, whereas the cast irons have not. Hence what we see in the steels is a transformation structure, but in the cast irons a solidification structure. By giving the cast

Jan 1, 1944

By C. Willard Hayes

The determination of the question whether the Mayari and Moa mining-claims of the Spanish-American Iron Co. have been rightly denounced under the third section of the law of bases rests on the findings in the following questions of fact: 1. Is the mineral an iron-ore ? 2. Is the iron-ore a bog iron-ore ? 3. Is the iron-ore ocher ? 4. If ocher is present, can it be mined separately and independently of the iron-ore ? 1. Is the Mineral an Iron-Orb? Since the material is shown by a large number of analyses to contain from 41 to 50 per cent. of metallic iron and less than

Jan 1, 1912

In our sessions devoted to geophysical prospecting, the greater part of the time heretofore has been given to the presentation of theoretical subjects or highly technical details by specialists directly engaged in the development and perfection of the various methods. This was necessarily so, for we wanted such information available for the benefit of other workers and for our members who were anxious to gain a reliable understanding of the principles involved, to enable them to form an opinion of the adaptability of this new technique to their special problems. The methods have now been actively applied by many reliable organizations for several years and in this period there has been opportunity for operating mining men, engineers and geologists to appraise them. We therefore felt that it would be desirable at this meeting to give some time to interchange of opinion concerning results from actual cases. Consequently, the Committee on Geophysical Methods of Pros pecting sent out letters of inquiry to numerous mining people, asking for frank statements of opinion based on results from geophysical surveys at their properties. We have received many replies, among which 30 or more are of specific interest. On the whole, the point of view is remarkably uniform. Except for one or two who were, perhaps, a bit irritated, the operating men who have replied consider the methods to be capable of yielding valuable information when suitable conditions exist. Their attitude is definitely one of tolerance and of confidence in the integrity and sincerity of the outstanding workers. There is, however, a very general feeling that the chances of attaining positive and trustworthy results are small unless the work is directed by, or at least carried on with the close cooperation of, a geologist or mining man who is thoroughly familiar with the local geologic and mineralogic conditions and with the relations of the orebodies to rocks and structure. From certain comments, I am inclined to think that some operators are not greatly impressed with the cheapness of the work. Probably they are not attaching much weight to cost per acre, but are thinking primarily of total cost in terms of significant results obtained. It is

Jan 1, 1932

By Henry Faul

MEASUREMENT of radioactivity of rocks and ores has developed into a complete method of geophysical exploration. The problem falls into three natural categories: (I) surface radiation measurement in the field and underground; (2) radioactivity logging of drillholes; and (3) laboratory analysis of samples. Portable counters are used in the field for tracing radioactive formations and for quantitative estimates of radioactive content of surface rock. Wartime advances in battery design make it possible to construct small precision counters that can be carried easily. Even the smallest conventional diamond drillholes can be logged, and actual content of the radioactive element can be measured. The exact grade of very thin active layers or veins can be estimated only approximately. Samples may be analyzed for their alpha, beta or gamma activity, and beta assaying is the best suited to rapid routine operation. Simple calibration with standard samples is sufficient for rough work, but a density correction is necessary when greater precision is required. Samples with high emanating power should be fixed and stored for three weeks to reestablish the radium-radon equilibrium prior to precision assaying. Carnotite can be fixed by sintering or molding with plastics. Among the important new developments, a low-voltage Geiger tube has been designed recently, and crystal scintillation counters hold great promise for high-efficiency gamma-ray measurement.

Jan 1, 1947

By G. Ferrara

The reserves of lead and zinc ores in the metalliferous district of Iglesias in south-western Sardinia are today estimated at about 30 million tons, grading from 4 to 10% Pb + Zn. Of these reserves, about 40% are in the mines owned by AMMI Sarda S.p.A. The working of these resources goes back to ancient times. Not infrequently, traces of old Roman workings and remains of ancient implements are come upon in the higher parts of some of the ore bodies. Exploitation of these mines on larger scale, however, dates from the middle of the 18th century. Initially, the more accessible zones of the ore bodies and the richer ores were worked - the galena and the rich oxidized ores (calamine* with 25-35% Zn), which were often found in large masses, the enormous empty cavities of which still remain. The poorer grade deposits have been gradually rendered workable by the development of technology - the perfecting of the

Jan 1, 1970

By FREDERICK W. BRADLEY

MINING is one of the world's oldest industries and has pioneered the civilization of all new lands. Today, mining is not only one of the essential and basic industries of the world, but it is constantly growing in magnitude and becoming more important. We think that the most of our mining is done in the western portion of this country, but in the old State of Pennsylvania mines and products derived from minerals account for about two-thirds of the entire productive wealth of the State. As our forests are denuded, mining furnishes substitutes for timber in the way of concrete, gypsum board, etc. ; and as civilization increases the wants of mankind, mining is producing metals and minerals of every kind in increasing quantities. For example: during the past ten years the per capita consumption of copper in the United States has increased 49 per cent, to 14.56 Ib.; that of lead has increased 35 per cent, to 12.24 lb.; and that of zinc has increased 70 per cent, to 9.57 Ib. The consumption in European countries is about one-half of this, and there are other countries with large populations where there is virtually no consumption; so when all other countries catch up in consumption with our country, you can see what an enormous demand there is going to be for the metals, even to the extent of having to find substitutes for copper, lead, and zinc.

Jan 1, 1929

By H. L. Gilbert, C. Travis Anderson, W. J. Kroll

IN a previous paper,1 the use of a split graphite tube resistor as a heater element for high-temperature furnaces has been described. The principal advantages of this type of construction are: I. The quadruple resistance or voltage compared with the top-bottom clamp resistor furnace. 2. Free expansion of the resistor. 3. The ease of protection from oxidation by air. 4. The firmness by which it may be held in the compact split clamp. This construction appeared to be well adapted for the fusion of high melting metals which require fusion in a vacuum. Zirconium metal had previously been melted at the Albany Laboratory of the Bureau of Mines in a vacuum arc furnace on a water-cooled plate, using a movable tungsten top electrode.2 When larger furnace capacities were desired, this type of construction proved to have its limitations as the largest tungsten rods available were about 7/8in. in diameter. The supply of direct current of high amperage for producing the . desired arc characteristics was also not available. Considerable difficulty was also found in compensating the atmospheric pressure on the flexible tubing of the movable electrode, at the same time keeping its movement sufficiently free to enable the striking of an arc on any part of the metal briquet. Among the various materials used for the electrodes in conducting experiments in the vacuum arc furnace was graphite. It was found that zirconium fused in a graphite cup with a carbon arc was contaminated to only 0.2 pct carbon. It was therefore decided to melt zirconium directly in graphite crucibles. A high-frequency furnace was first used in the attempt to melt the zirconium in graphite crucibles. The high-frequency heating coil was placed outside a silica tube which was evacuated by means of an oil diffusion pump backed up by a mechanical pump. The graphite crucible was thoroughly degassed at 1900°C before use. Considerable difficulty was experienced in operating at such temperatures in vacuo because, as shown by Zintl,3 carbon vapor formed and reacted with silica according to the reaction: Si02 + C = SiO + CO. The silicon monoxide which is volatile at these high temperatures reacted with the zirconium, thereby contaminating it with silicon and oxygen. The presence of carbon monoxide was detected by means of a gas discharge tube placed in the vacuum system as indicated by the pale blue glow of the tube as soon as carbon vapor started to react with the hot silica. The reaction between the carbon vapor and hot silica was avoided by the use of split cylindrical molybdenum shields which were inserted between the graphite crucible

Jan 1, 1948

INTRODUCTION This chapter summarizes porphyry copper deposits within the State of Alaska. Prospecting for porphyry copper-type deposits in Alaska germinated during the 1940's, grew slowly during the '50's, boomed during the '60's, and matured in the '70's. Although large expenditures have been made in the search for porphyry-type deposits, most accrued data lies dormant in company files. However, an adequate base exists in the literature for a general synthesis of areas that contain porphyry prospects. To simplify the summary, porphyry molybdenum deposits as defined by Clark (1972) are omitted. Description of deposits in their geologic setting permits some correlations between deposit characteristics and crustal environment. These correlations allow speculation about the genesis of the deposits. The summary also attempts to group deposits on the basis of general mineralogic characteristics because diorite model deposits are separated from quartz phenocryst-bearing hosts. Data presented in this chapter summarize observations by the author, published descriptions of specific areas and deposits as noted in the bibliography, and comments by various government geologists. E. M. MacKevett, Jr., D. H. Richter, and H. C. Berg of the US Geological Survey have been particularly helpful. Because few comprehensive descriptions of individual porphyry copper deposits exist for this area, much of the data presented is new to the literature. Details of structure, isotopic geochemistry, and petro- genesis for individual deposits are largely lacking and even the general geology of some belts is not well understood. Details on petrography of Alaskan porphyry copper occurrences are inadequate for construction of ternary diagrams (e.g., Figs. 36a, b, pp. 103, 104, for the northern Cordilleran orogen). Petrographic descriptions summarized in the text are largely from published descriptions whose sources are cited. Porphyry copper-type deposits in Alaska include deposits with pervasive pyrite that contain disseminated copper (but not necessarily coproduct molybdenum). Available data preclude differentiating the deposits by size. No Alaskan porphyry copper deposit is now in production but this is believed to be, in part, a function of economics. In some cases available geologic information is in- adequate for classifying deposits. Some de- posits included with porphyry copper may, with further exploration, be demonstrated to be some other genetic type. Alaska has three distinct porphyry copper provinces: the Hogatza plutonic belt, the Continental Margin belt, and the Interior belt. Each belt contains deposits with characteristic geologic features distinct from those of other belts. Fig. 24 shows the continental margin belt to extend inland from

Jan 1, 1978

By W. O. Philbrook, A. H. Jolly, T. R. Henry

In the course of a study of slag-control methods, the authors devised a laboratory technique by which the basicity of basic open-hearth furnace slags could be estimated with sufficient accuracy to make the method of possible interest for slag-control purposes. The process consisted of measuring the slight basicity of an extract of the powdered slag in water. The procedure was presented, for the benefit of those who might care to experiment with it, in a paper submitted in the 1944 McKune Award Contest and presented at the 1944 Open-hearth Conference in Pittsburgh.' Interest expressed at that meeting and favorable operating experience with the method at a neighboring plant, as described in a related paper by Michael Tenenbaum and C. C. Brown,; have encouraged us to present further details of the development, technique, and pitfalls of the method and some additional data not included in our first report. At the outset it must be admitted that this method of estimation of slag basicity is not perfect; neither is any other that we know of. It is subject to somewhat greater errors than would be desirable, but compares favorably with other techniques in this respect. It has the disadvantage that it places the final determination of slag basicity in the hands of a laboratory technician rather than the furnace oper- ator, although it can be operated in a control laboratory adjacent to the furnaces. It requires close attention to certain details, as do most laboratory procedures. On the favorable side, it eliminates the "human factor" of personal judgment inherent in estimation from pancakes or powdered samples. The procedure can be placed in practice much more rapidly and presents much less of a training problem than visual methods of estimation. The principle and operation of the method are so simple that it would not be surprising if others have experimented with the same or similar procedures, but we are not aware of any prior publication of details. Our own shop has been operating fairly successfully for several years with the aid of slag pancakes. Since the past year or two have not been favorable for the expenditure of time and energy where the need was not urgent, we have not introduced the new practice for actual slag control and hence do not have extensive operating data. In presenting this method, therefore, we make no claims as to theoretical justification nor guarantees as to practical applicability, but offer it as an empirical observation. We believe it has sufficient merit to warrant its investigation by those just instituting a slag-control program or in search of supplementary methods for judging slag basicity Principle of the Method It is well known that when burnt lime or slaked lime is shaken up with water it

Jan 1, 1945

By O. N. Carlson, S. A. Bradford

Discontinuous yielding in tensile tests was observed in V-O alloys in the temperature ranges of 150° to 175°C and also 350° to 400°C. The magnitude and intensity of the serrations were found to vary considerably with oxygen content. Maxima were observed in tensile and yield strengths and in the strain-hardening coefficient at the higher temperature only. The strain rate sensitivity was observed to be negative between 150° and 400°C. THIS investigation was undertaken to study the effect of oxygen on the tensile properties of iodide vanadium in the temperature range of 25o to 450°C. Brown1 observed an increase in strength between room temperature and 400°C in vanadium metal, and found that oxygen and nitrogen had a rather pronounced effect on the strength and ductility. A maximum in the tensile strength was observed by Rostoker et al.2 near 300oC and by Pugh3 around 450°C for calcium-reduced vanadium. Pugh also found a maximum in the yield strength and in the strain-hardening exponent, and minima in the elongation and strain rate sensitivity at the same temperature. Eustice and Carlson4 reported the appearance of serrations in the stress-strain curves between 140° and 180°C in iodide vanadium containing 600 ppm O. These anomalies in the mechanical properties indicate that strain aging occurs in vanadium, but the impurity or impurities responsible for the above-mentioned effects have not been identified. The phenomenon of strain aging is usually characterized by the return of the yield point after interruption of a strength test. In the temperature range where strain aging occurs, the yield and tensile strengths attain maximum values, elongation and strain rate sensitivity exhibit minima, and discontinuous yielding is generally observed in the stress-strain curve. Cottrell5, 6 has postulated that strain aging is due to the migration of solute atoms to dislocation sites to produce locking after the dislocations have broken free from their impurity atmospheres during the initial yielding. At the strain-aging temperature the process is a dynamic one in which the solute impurity atoms diffuse to the vicinity of the moving disloca- tion producing "locking" which gives rise to maxima in the tensile strength and serrations in the elongation curves. Cottrel17 has noted that discontinuous yielding in iron occurs when the diffusion coefficient of nitrogen, D, and the strain rate, i, are related by D = 10-9 €. EXPERTMENTAL PROCEDURE The vanadium metal employed in this study was prepared by the iodide refining process as described by Carlson and owen.8 A representative analysis of the vanadium used in this investigation was: 150 ppm O, <5 ppm N, <1 ppm H, 150 ppm C, 150 ppm Fe, 70 ppm Cr, <50 ppm Si, 30ppm Cu, 20 ppm Ni, <20 ppm Ca, <20 ppm Mg and <20 ppm Ti. Alloys containing from 200 to 1800 ppm O, all of which lie in the solid solution range of the V-O system, were prepared by arc melting vanadium together with portions of a high-oxygen master alloy. The master alloy was prepared by tamping pure V2O5 into holes drilled in a vanadium ingot and arc melting this five or six times in an inert gas atmosphere, inverting the button between each melting step. The oxygen content of the master alloy was then determined by vacuum fusion analysis. Vanadium containing less than 150 ppm O was prepared in the following manner. A bar of iodide vanadium was deoxidized by sealing it in a tantalum crucible with a few grams of high-purity calcium. This was held at 1100°C for 4 days to allow time for the oxygen to diffuse to the surface and to react with the calcium vapors. The calcium oxide product was later dissolved from the surface of the bar with dilute acetic acid. In this way vanadium containing from 20 to 50 ppm O was prepared. Sample Preparation. The are-melted ingots were cold swaged into 3/16-in. diam rods and these were machined into cylindrical tensile specimens with a reduced section of 1.00-in. length and 0.120-in. diam. The test specimens were annealed for 4 hr at 900°C in a dynamic vacuum of mm of Hg to remove hydrogen from the metal. This recrystal-lization treatment produced a uniformly fine-grained structure with a mean grain size of approximately 0.06-mm diam. The oxygen contents reported in this paper were determined by a vacuum fusion analysis of the tensile specimens after testing. Analyses for other interstitial or metallic impurities showed no significant changes from that of the original material. Tension Tests. Tension tests were performed on a screw-driven tensile machine at a constant cross-head speed of 0.01 in. per min. Tests at elevated temperatures were carried out by heating the

Jan 1, 1962

By Henry Hibbard

AT THE beginning of a Henry M. Howe lecture it seems fitting to refer to Howe&apos;s great contributions to steel metallurgy, and particularly to the literature thereof. Most of my predecessors in this role have been able, from their association with him, to give direct testimony as to his great services; but although connected with him for years in a business way, I am less familiar with what might be called his academic side, except as .it is embodied in his utterances, written and oral. Howe was adept in his genial way in extracting information in any line which, at the time, was of interest to him. In a technical lecture one expects as a rule new knowledge-something about recent advances relating to the subject. On this occasion, however, I will ask you to go back with me to the primary department of steel lore, as the title of my lecture shows, to review the more fundamental features in that field for the purpose of seeking some gaps which we can fill and so give the subject renewed interest. In thus going back one must inevitably repeat many familiar facts, but that seems to be necessary in order to reach a clear understanding of the unrecorded matters. The full interpretation of a steel analysis is at present unattainable, though much progress toward that end has been made. The ultimate analysis, giving the percentages of the five commonly determined elements, does indeed usually give a fair idea of what the steel is, and is ordinarily enough, with knowledge of its history and physical condition, to enable it to be assigned to some purpose or use for which it is reasonably suitable. But discrepancies arise. Every maker and every user of steel knows, from at least occasional examples in his own experience, that the ultimate analysis is insufficient by itself to enable one to tell positively, from its interpretation, either the mechanical properties of the steel or its adaptability to the purpose for which it was made. Further, if, while having the specified composition, it is abnormal or unsatisfactory, why it is so. Good, bad and indifferent steels may have substantially the same ultimate analysis.

Jan 1, 1928

By E. A. Slover

THE usual reverberatory system of smelting cop--1- per concentrate or calcine has for its component parts a furnace and one or two waste heat boilers. These parts are operated on a basis of compromise, since the furnace can send gas to the boilers at too high a temperature and the boilers by plugging, due to dust or slag, can place a definite limit on the amount of fuel the furnace can burn. Over the years the copper concentrate smelting furnace has had few advances in design. The simple rules of design such as the flame should wipe the bath and the speed of the gases should be reasonably low for dust carrying purposes seem to cover the main features. In the construction of the individual furnaces some innovations are always being introduced. Among these are charging so that the work of smelting is a complete bath process, the use of suspended brick arches in place of sprung arches, the use of basic brick, not only in the crucible, but also in roof and sidewalls, the use of various means to feed the charge, the use of magnetite or other heavy material to construct the hearth, water cooling of bridgewall and slag skimming bay, the smelting of raw charge instead of calcine, the use of preheated air, and possibly the use of oxygen-enriched air for combustion. But the general outlines of the furnaces have not changed much except as to size. Furnaces at Hurley As shown on Fig. 1, the furnace at Hurley is 126 ft long between the longitudinal buckstays and 32 ft wide at the skewback plates. The foundation is a concrete retaining wall with piers at intervals that go deeper into the earth. Purposely the wall at the burner end of the furnace is not backed-up as tightly as the other parts of the foundation so that movement due to expansion may take place here rather than into the boiler foundations. Within these foundation retaining walls of concrete, the earth has been removed to allow the placement of the crucible brick base inside of which a silica hearth is laid 4 ft 6 in. in depth. No expansion is left in the brick base and crucible where they are in contact with the hearth. The hearth itself is of quartzite crushed to 1 in. size with fines left in the product. An 8 in. layer is laid and tamped with paving tampers to about 6 in. in thickness. Then a layer of silica flour is spread and vibrated into the hearth. This operation is repeated until a depth of 4 ft 6 in. is occupied by the silica mass onion-skinned in layers of approximately 6 in. Before firing the entire hearth is covered with broken slag to a depth of 4 in. so that a seal may be formed on the hearth. The crucible is completely faced with magnesite chemically bonded brick while the outside, against the foundation, is made of silica brick. The side-walls are carried up with silica brick in which expansion joints are left at intervals. Above the crucible the sidewall is corbelled to form a shelf on which the charge may build up along the side-walls, see Fig. 2. The arch of the furnace is sprung 20 in. silica brick, with the longitudinal centerline horizontal the length of the furnace, and some 9 ft in the center above the bath. Both straight and wedge brick are used in the construction and a thin silica mortar is troweled for joints. After the arch under heat has assumed its permanent shape, a silica slurry is spread over the arch to fill any cracks that have formed, thus giving bearing surface to the brick and preventing dust from entering the body of the arch to act as a future fluxing agent. The uptake of the furnace slopes up to the boiler entrance where a brick pilaster divides the gas stream for the two boilers. Over this flared uptake is a suspended flat arch of firebrick. The pilaster and sidewalls are constructed of firebrick but the bottom of the uptake is lined with silica brick and fettled through holes in the roof with siliceous fettling. Close to the entrance of each boiler is a brick covered slot through which water-cooled dampers may be lowered in event of boiler trouble. These water-cooled dampers are hung permanently in position ready to be lowered when needed. Flexible hoses to follow the dampers as they are lowered are connected at all times and individual chain blocks are used to lower the dampers. A pump supplying water is started before the dampers enter the heat. Charging of the furnace along the sidewalls for some 80 ft from the bridgewall is accomplished by electric vibrating conveyors fed by belt from charge storage bins above the furnace. These conveyors

Jan 1, 1954

By Anna H. Connard

SUMMARY The discussion focusses on developments in the debt/equity swap market since the Marte project was negotiated in early 1988. It emphasises carrying forward the recent market trends to anticipate the breadth and scope of debt/equity conversions for mine development in the 1990s. Secondary market prices of LDC paper, conversion values and political influences in the host countries and the use of near debt and commodity-based instruments as components of mine financing in debt/equity deals will be placed in the perspective of recent trends and expectations for the future. THE MARTE PROJECT The Marte mine is a gold porphyry deposit in Chile&apos;s high Atacama, for which financing was put together at the beginning of 1988. The Marte project was financed by a combination of common equity and loans. It was unusual that the equity infusions were made under different programs. Some of the international equity was infused with fresh funds via DL 600. Other common foreign equity was provided through the conversion of Chilean bank debt under Chapter XIX. On the loan side,. export credits for the import component of machinery and equipment were sought. Local bank financing was negotiated for the remainder of &apos; the project&apos;s anticipated cost. The debt conversion market in Chile was at its apex in terms of interest, activity and government support when the mine financing was arranged. The price of Chilean paper in the secondary market hovered about 62 to 66 cents per U.S. dollar of face value. Meanwhile, the Chilean government was negotiating conversion redemptions significantly closer to full face value. The government differentiated between debt paper exchanged for corporate investors who had sourced that paper in the secondary market, and debt paper held by bank investors who would incur a transaction loss in the conversion. The use of a combined DL 600lChapter XIX equity financing created different yield calculation bases for the various investors. Chapter XIX prevents remittance of profits before year 5 and capital repatriation before year 11. Investors choosing this vehicle have either for a corporate policy in the target project not to declare dividends until repatriation is allowed, or they have to seek uses for the peso liquidity that would be generated through dividend declarations in the early years. However, DL 600 investors face no such waiting period on dividends, nor do they have restrictions imposed on cashing out of the investment before the 11th year. Therefore, any equity structure with components of both investment mechanisms will have inherent differences in cost basis and future income flows for the various participants. This equity imbalance is defensible if the investment motivations of the parties are analyzed: a mining investor using fresh funds looks for a hurdle return on equity calculated at conservative commodity prices, with as much flexibility to reap upside benefits as possible; a mining investor choosing to invest through a debt conversion mechanism will realize a modest short term gain on the conversion, reducing his effective cost basis, but sacrificing some return because of the waiting period on repatriation of dividends. INVESTMENT OBJECTIVES A bank investor exchanging his own paper for an equity participation in a mining project realizes a conversion loss on the transaction. He seeks a risk adjusted acceptable hurdle rate of return to recoup that loss over time. Motivation for the bank investor to take that loss may be derived partly from a strategy to diversify its existing portfolio by internal policy and externally regulated guidelines. The bank will compare yields on its loan portfolio to that country with anticipated dividend flows discounted back at a risk adjusted rate. It will analyze the project with return objectives of yield enhancement over time and with

Jan 1, 1990

By W. E. STOKES

COMPANIES operating airplanes have had a relatively prosperous year, permitting them gradually to re- place old types of equipment. The pre-eminence of American-made planes, engines, and accessories has been challenged, either by foreign designs or by domestic patterns that have, for one reason or another. been licensed for manufacture abroad.

Jan 1, 1938

By W. L. Phillips

Stress-strain curves were obtained for single crystals of 70 pct Ag-30 pct Zn tested in tension and shear. Samples tested in tension and shear had comparable resolved shear stresses and stress-strain curves. The {111} <110> slip system was observed. It zoas found that the9.e is a barrier to slip in both latent close -packed directions and that the magnitude of these barriers is proportional to prior strain during easy glide. It was observed that cross-slip in tension and shear was most frequent in crystals with an initial orientation near <100> "Oershoot" zoas observed in tension. The amount of this "overshoot" was independent of initial orientation. AN idealized concept of plastic deformation indicates that a single crystal should yield at some stress that is dependent on crystal perfection and it should then continue to deform plastically by the process of easy glide which is characterized by a linear stress-strain curve and a low coefficient, d/dy, of work hardening. Hexagonal metal crystals generally conform to this ideal concept of laminar flow. In fcc metals the range of easy glide is always restricted in magnitude and it is strongly dependent on orientation, composition, crystal size, shape, surface preparation, and temperature. Since one of the principal differences between the two crystal systems, both of which deform by slip on close packed planes, is the existence of latent slip planes in the fcc crystals, it has been proposed that the transition from easy glide to turbulent flow, characterized by rapid linear hardening, is due to slip on secondary planes intersecting the primary plane.ls Several theories have been proposed to explain the linear hardening and parabolic stages of the stress -strain curve.6"10 The easy-glide region is the least understood of the three stages. The stress-strain characteristics of Cu-Zn, which shows a long easy-glide region, have been extensively investigated."-" In light of recent ideas on dislocations, cross-slip, effect of solute atoms, and stacking fault energy, it was felt that the certain features of this earlier work might be compared with another alloy, Ag-30 pct Zn, which also exhibits a long easy-glide region. Tension and shear stress at room temperatures were employed. The results obtained, together with some interpretation of the observations, are described below. EXPERIMENTAL PROCEDURE The silver and zinc used for mixing the alloys were 99.99 pct pure. The two components were weighed to within 0.1 pct of the weights required fo the alloy composition. They were then placed in a closed graphite mold and the mold and contents were heated in 100°C stages from 500&apos; to 900°C with sufficient time and vigorous agitation at each stage provided to dissolve the silver. The crucible was then heated to 1150°C and agitated violently before being quenched in oil. The resulting alloy rod was machined free of sur face defects and then placed in a graphite mold designed for growing single crystals. The graphite mold was closed with a graphite plug and was encased in a pyrex glass tube which was connected to a vacuum system. The tube and mold assembly were placed in a furnace; the tube was evacuated and the furnace was rapidly heated to a temperature sufficient for fusing and sealing the glass. The glass-encased evacuated mold and contents were then lowered through a vertical furnace. The top section of the furnace was held at 100 °C above the melting point of the alloy. The lowering rate was 1.5 in. per hr. The tension specimens were 1/4 in. diam; the shear specimens were 1/2 in. diam. These specimens were then removed from the mold, etched, and chemically polished with hot (60°C) Chase etch reagent (Crz03-4.0 g, NH4C1-7.5 g, NHOs-150 cc, HzS04-52 cc, and Hz0 to make 1 liter). In preparation for tensile testing, the specimens were carefully machined to a diameter of about 0.200 in. to permit a gage length of 6 in., annealed for 16 hr at 800&apos; to reduce coring, and then cleaned and polished. A modified Bausch-type shear apparatus which has been described previously18 were employed. The gage length was 1/8 in. This shear apparatus was placed in an Instron tensile testing machine. EXPERIMENTAL RESULTS A) Tension. Several specimens were extended at room temperature to determine the effect of initial orientation on the stress-strain curves of Ag-30 pct Zn. The initial orientation and the resolved shear stress supported by the active slip system at various total strains are plotted in Fig. 1. The critical resolved shear stress, t,, initial rate of work hardening, d/dy, and length of the easy-glide region are independent of orientation. The arrival at the symmetry line is shown by an arrow in Fig. 1. During the easy-glide region of the stress-strain

Jan 1, 1963

By Jonathan G. Price

Silver-copper-lead deposits In Precambrian, Permian, and Cretaceous red-bed sequences near Van Horn, Texas, have the following features In common: (1) mineralization controlled by steeply dipping fractures in sandstones, (2) lack of ore in overlying and interbedded limestones, (3) absence of igneous intrusions, (4) sulflide ores without typical hydrothermal gangue minerals, and (5) associated arsenic, molybdenum, zinc, and cadmium but not gold. Ore was probably deposited along fractures by reaction between low-temperature, oxidizing, metal-rich ground waters and sulfide-bearing waters or rocks. Detailed mapping and studies of fracture patterns indicate that mineralization occurred during Basin and Range extensional deformation, thereby postdating major Trans-Pecos igneous activity.

Jan 1, 1984

By T. A. Pollard, C. R. Sandberg, E. B. Elfrink

This paper presents an evaluation of compressibility factor data and a discussion of their application to the estimation of gas reserves. A correlation is presented which provides compressibility factors for use in both two-phase and single-phase hydrocarbon systems. Accuracies comparable to those obtained previously for single-phase systems only can be expected. A simple means of predicting the presence or absence of a liquid phase in a condensate system of known composition is illustrated. The correlation is based on 1,030 compressibility determinations from 21 hydrocarbon samples taken from eight oil fields. Of the data used, 75 per cent were from California, 15 per cent were from the Mid-Continent area, and 10 per cent were from South America. The average numerical deviation of the experimental data from this compressibility chart is 1.22 per cent. Charts and tables are included and discussed which illustrate the errors involved through the misuse or nonuse of compressibility factors in estimates of gas-in-place. INTRODUCTION The compressibility factor is a coefficient which expresses the deviation of a gas of given composition from the Perfect Gas Laws. A factor such as this is necessary in any calculation involving volumes of gaseous mixtures, and finds extensive application in the estimation of natural gas and condensate reserves. It is used in the decline curve, the volumetric, and the material balance methods of gas reserves estimation. The behavior of gases at high pressures has been investigated extensively in recent years and considerable data have been assembled on the compressibility characteristics of a number of gases. Notable among the investigators of high pressure gas relationships are Kvalnes and Caddya, Kay" Sage and Laceys, and Brown, Standing" and Katz4. Other contributors are Smith and Watson, Roland and Kaveler&apos;, and Stevens and Vance". The data on compressibility factors assembled by these investigators have been presented and correlated in numerous ways; particularly noteworthy is the method first presented by Kay5 which relates compressibility factor "Z" to pseudo-reduced temperature and Pseudo-reduced pressure. Other investigators have used this empirical relationship successfully and numerous charts covering a large number of gases have been constructed on this basis. It is the purpose of this paper to evaluate compressibility factor data and to illustrate the importance of their proper use in the estimation of gas-in-place for both gas and condensate reservoirs. EVALUATION OF COMPRESSIBILITY FACTOR DATA The compressibility chart presented by Standing, Katz, Brown and Holcomb in 1941 is probably the most recent and reliable chart for natural gases. The reliability of the Katz chart has been investigated by the writers for a fairly large number of gases (single-phase) in the pressure range from 500 to 10,000 psia and temperature range from 80 to 400°F. A summary of this comparison is presented in Table I. The numerical average deviation of the chart compressibility factors from the experimental compressibility factors is 1.05 per cent, and the algebraic deviation is -0.28 per cent. The Katz correlation appears to be quite accurate for single-phase hydrocarbon systems. It was based on single-phase systems and does not necessarily provide a means of accurately predicting the behavior of two-phase systems which might be encountered in condensate work. Data published recently by Sage and Oldsl&apos; have enlarged the knowledge of phase behavior in condensate systems by covering extensively the Compressibilities of systems in the two-phase as well as single-phase regions for a wide range of temperatures, pressures and gas-oil ratios. An evaluation of these data indicates that conditions can arise, especially in condensate systems having fairly low gas-oil ratios, in which two phases occur and the usual gaseous compressibility factors do not accurately apply. The measured PVT data of Sage and Olds covering two-phase systems have been correlated with additional such data from the Mid-Continent area and South America; these are presented in Fig. 1. This chart is the result of 1,030 compressibility* determinations from 21 hydrocarbon samples taken from eight oil and condensate fields. Of the data used, 74.75 per cent were from California, 15.45 per cent were from the Mid-Continent area, and 9.80 per cent were from South America. The chart construction is based on the original

Jan 1, 1949

By C. R. Sandberg, T. A. Pollard, E. B. Elfrink

This paper presents an evaluation of compressibility factor data and a discussion of their application to the estimation of gas reserves. A correlation is presented which provides compressibility factors for use in both two-phase and single-phase hydrocarbon systems. Accuracies comparable to those obtained previously for single-phase systems only can be expected. A simple means of predicting the presence or absence of a liquid phase in a condensate system of known composition is illustrated. The correlation is based on 1,030 compressibility determinations from 21 hydrocarbon samples taken from eight oil fields. Of the data used, 75 per cent were from California, 15 per cent were from the Mid-Continent area, and 10 per cent were from South America. The average numerical deviation of the experimental data from this compressibility chart is 1.22 per cent. Charts and tables are included and discussed which illustrate the errors involved through the misuse or nonuse of compressibility factors in estimates of gas-in-place. INTRODUCTION The compressibility factor is a coefficient which expresses the deviation of a gas of given composition from the Perfect Gas Laws. A factor such as this is necessary in any calculation involving volumes of gaseous mixtures, and finds extensive application in the estimation of natural gas and condensate reserves. It is used in the decline curve, the volumetric, and the material balance methods of gas reserves estimation. The behavior of gases at high pressures has been investigated extensively in recent years and considerable data have been assembled on the compressibility characteristics of a number of gases. Notable among the investigators of high pressure gas relationships are Kvalnes and Caddya, Kay" Sage and Laceys, and Brown, Standing" and Katz4. Other contributors are Smith and Watson, Roland and Kaveler&apos;, and Stevens and Vance". The data on compressibility factors assembled by these investigators have been presented and correlated in numerous ways; particularly noteworthy is the method first presented by Kay5 which relates compressibility factor "Z" to pseudo-reduced temperature and Pseudo-reduced pressure. Other investigators have used this empirical relationship successfully and numerous charts covering a large number of gases have been constructed on this basis. It is the purpose of this paper to evaluate compressibility factor data and to illustrate the importance of their proper use in the estimation of gas-in-place for both gas and condensate reservoirs. EVALUATION OF COMPRESSIBILITY FACTOR DATA The compressibility chart presented by Standing, Katz, Brown and Holcomb in 1941 is probably the most recent and reliable chart for natural gases. The reliability of the Katz chart has been investigated by the writers for a fairly large number of gases (single-phase) in the pressure range from 500 to 10,000 psia and temperature range from 80 to 400°F. A summary of this comparison is presented in Table I. The numerical average deviation of the chart compressibility factors from the experimental compressibility factors is 1.05 per cent, and the algebraic deviation is -0.28 per cent. The Katz correlation appears to be quite accurate for single-phase hydrocarbon systems. It was based on single-phase systems and does not necessarily provide a means of accurately predicting the behavior of two-phase systems which might be encountered in condensate work. Data published recently by Sage and Oldsl&apos; have enlarged the knowledge of phase behavior in condensate systems by covering extensively the Compressibilities of systems in the two-phase as well as single-phase regions for a wide range of temperatures, pressures and gas-oil ratios. An evaluation of these data indicates that conditions can arise, especially in condensate systems having fairly low gas-oil ratios, in which two phases occur and the usual gaseous compressibility factors do not accurately apply. The measured PVT data of Sage and Olds covering two-phase systems have been correlated with additional such data from the Mid-Continent area and South America; these are presented in Fig. 1. This chart is the result of 1,030 compressibility* determinations from 21 hydrocarbon samples taken from eight oil and condensate fields. Of the data used, 74.75 per cent were from California, 15.45 per cent were from the Mid-Continent area, and 9.80 per cent were from South America. The chart construction is based on the original

Jan 1, 1949

By C. H. Herty

Almost every metallurgist who has given the Howe Memorial Lecture has had a personal contact with the distinguished gentleman to whose honor this hour is devoted. Unfortunately for me, such personal contacts were not possible. However, in the preparation of a thesis on the open-hearth process, one of my earliest tasks was to make a survey of the literature, and it was from Professor Howe&apos;s Metallurgy of Iron and Steel that I drew a number of references to previous work which formed the foundation for my reading. In his volume there is such a complete exposition of the then current thought on the subject of slags and on their role in the elimination of phosphorus from steel that I feel no hesitation in discussing in this Howe Lecture the subject of "Slag Control." In the present era of close specification, the drive for uniformity of product, and the close inspection of the product and of the cost sheet, the utmost efforts must be made to control the steelmaking variables to the best advantage of the steel producer. One of the major variables is the slag in the furnace and its effect upon the composition and quality of the metal. What advantages are to be gained from slag control? In the broad sense the advantages must be tremendous, because the very foundations of good steel melting are based on "shaping up" the slag to a point where, with proper temperature, the heat is ready for the final additions. Every melter works toward these ends through his experience with innumerable heats of steel. The elimination of undesirable constituents such as phosphorus and sulphur is entirely a matter of slag composition and physical nature, a point well known for over half a century. The role played by the slag in assisting in proper heat transfer from roof and flame to the steel has been equally well known. In more recent years there has come the problem of oxygen control in the more accurate gauging of additions for making high-grade rimmed steel for the new strip mills, and in the deoxidizing additions for grain-size control and cleanliness of forging steels, both carbon and alloy. In this problem the oxidizing characteristics of the slag are of prime importance.

Jan 1, 1940

By C. H. Herty

Almost every metallurgist who has given the Howe Memorial Lecture has had a personal contact with the distinguished gentleman to whose honor this hour is devoted. Unfortunately for me, such personal contacts were not possible. However, in the preparation of a thesis on the open-hearth process, one of my earliest tasks was to make a survey of the literature, and it was from Professor Howe&apos;s Metallurgy of Iron and Steel that I drew a number of references to previous work which formed the foundation for my reading. In his volume there is such a complete exposition of the then current thought on the subject of slags and on their role in the elimination of phosphorus from steel that I feel no hesitation in discussing in this Howe Lecture the subject of "Slag Control." In the present era of close specification, the drive for uniformity of product, and the close inspection of the product and of the cost sheet, the utmost efforts must be made to control the steelmaking variables to the best advantage of the steel producer. One of the major variables is the slag in the furnace and its effect upon the composition and quality of the metal. What advantages are to be gained from slag control? In the broad sense the advantages must be tremendous, because the very foundations of good steel melting are based on "shaping up" the slag to a point where, with proper temperature, the heat is ready for the final additions. Every melter works toward these ends through his experience with innumerable heats of steel. The elimination of undesirable constituents such as phosphorus and sulphur is entirely a matter of slag composition and physical nature, a point well known for over half a century. The role played by the slag in assisting in proper heat transfer from roof and flame to the steel has been equally well known. In more recent years there has come the problem of oxygen control in the more accurate gauging of additions for making high-grade rimmed steel for the new strip mills, and in the deoxidizing additions for grain-size control and cleanliness of forging steels, both carbon and alloy. In this problem the oxidizing characteristics of the slag are of prime importance.

Jan 1, 1940