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By C. H. Mathewson

EXCEPTING the joint sessions on gases in metals held during the day on Tuesday, the Institute of .Metals opened its activities with a division dinner at the Commodore on Tuesday evening, with Sam Tour, retiring chairman, presiding. W. M. Corse, secretary-treasurer, outlined the financial status of the division and stated the investment fund is becoming large enough so that in the near future it will be possible to pay all expenses of a foreign lecturer once in two years and not rely on an extended speaking tour to cover expenses. W. B. Price reported on his attendance at the Zurich, Switzerland, meeting of the International Society of Testing Materials and gave a graphic account of his visit to the Grand Salon, his meeting with Mussolini, and his audience with the Pope. Buffalo was announced as the place of the fall meeting, to be held during the week of Oct. 3.

Jan 1, 1932

By E. A. Holbrook

MINING Metallurgy, and Petroleum Engineering department in our colleges are facing a crisis; indeed, conditions that threaten their very existence. Unless the Army, Navy, and War Manpower Commission change their present policy, within two years mineral industries education as now carried on will die, because no ablebodied students will be left in the course. If this is the decision of our responsible governmental agencies we of the mining schools must perhaps accept it as a war measure. It might be well however, for the executive of our mining metallurgical, and oil companies to look ahead a, to where they are to recruit a supply of young technically trained engineers. You can no more operate a mine, a steel plant or an oil company without trained engineers than you can operate a battleship without mechanical and electrical engineers.

Jan 1, 1943

By Alan M. Bateman

Before World War II we proudly considered that we were the nation of all the world most richly endowed in mineral resources. We knew it was no accident that those countries abundantly supplied with mineral resources became the great manufacturing nations, and the politically and militarily strong ones; and that our own great industrial cities sprang up where coal and iron met. We all reallized, especially we of the mining profession, that the energy of fuels and the solidity of metals spelled industrial growth and in turn industrial might and that other nations came to regard mineral self-sufficiency as one of the chief goalsof economic nationalism.

Jan 1, 1949

By C. P. Walker

Determining the distance to remote objects by observing the time required for sound to traverse the intervening space is an old practice. Attempts have been made to use this method for determining the fluid level in oil wells but as far as the writer is aware it was not found to be practicable, because vibrations in gas in the audible frequency range do not travel as well and as far as low-frequency pressure waves, which are capable of transmitting a greater amount of energy than can be transmitted by audible waves. Wood, in his book "Sound," states that in a given medium the range of sound transmission will vary inversely as the square of the frequency. The fact that the sound from a whistle having a low tone has a much lower attenuation rate than that from a whistle of high pitch is well known. Also, the pressure waves caused by cannon fire often rattle windows at points so distant that no sound of the cannon is heard. In 1932 P. E. Lehr and H. T. Wyatt, of the Shell Oil Co., experimented with the principle of the concussion, or pressure-wave echo, method of determining fluid levels in oil wells. They released compressed gas into the top of the casing, thereby creating a pressure wave, which traveled down the well and back again. Their experiments proved conclusively that, with the proper apparatus for recording the echoes and determining the velocities at which the waves travel, the method could be used successfully for determining fluid levels in oil wells. Wells are often equipped with from one to three tubing catchers and these together with the top of the liner are frequently above the fluid. Each of these obstructions reflects a part of the pressure wave. In such wells there may be, therefore, as many as five pressure-wave reflections. Thus it is obvious that in order to identify the various reflections and to determine therefrom the fluid level in a well it is necessary to obtain a graphic record of these reflections.

Jan 1, 1937

By S. W. MEALS

TWENTY million people in this country and Canada in nearly four million homes can give thanks to our Creator for natural gas, that most wonderful natural fuel with which Dame Nature has so bountifully blessed us. It is a clean, healthy and cheerful fuel, made up almost entirely of carbon and hydrogen. There is no residue, no waste and there are no objectionable constituents; an ideal fuel for the home. It operates like magic, open the valve and it is there for your needs, winter or summer, night or day. You are not required to place your order 30 to 90 days in advance and you do not need to pay for your winter's supply in advance. No ashes to worry about, no flues or chimneys to clean, nor kindling wood to store or bother the housekeeper. We who have been so blessed do not realize what it would mean to be without it. If in place of opening a valve we had to go to the woodshed or coalhouse and then build our fire-carry out the ashes-well, some of us I am afraid would be late reaching our offices and perhaps would miss our hot cakes for breakfast. One cubic foot of gas produced from the White Sand formation contains 1130 B.t.u. and weighs 47/1000 lb.; there are about 24,000 B.t.u. in 1 lb. of gas. Temperatures of over 3400 deg. Fahr. have been obtained with natural gas. Not only is it a superior fuel for the home but it has no equal for use in many large manufacturing industries, especially with the making of glass, pottery and open-hearth steel. In an open-hearth furnace, properly constructed, 5000 cu. ft. will melt one ton of steel. It requires 1/3 ton of bituminous coal gasified in a producer to do the same work, or about 40 gal. of tar or fuel oil, or 11,000 cu. ft. of by-product gas.

Jan 1, 1926

By James Lorimer

THE topography at the Stan Trg mine facilitated early exploration by adits; in consequence adit levels were developed at horizons 865, 795, and 760 meters above sea level, and the levels in the mine 'are named according to their elevation. Exploitation started from the 760-m. level . upwards while simultaneously first steps were taken with regard to mining in depth. A deep dewatering adit 2.5 km. long now gives access to the deposit at the 610-m. horizon which also is connected with the 760-m. adit level by a three-compartment main hoisting shaft. Main levels have been developed internally from

Jan 1, 1936

By Ray W. Carpenter, Ralph Hultgren, Raymond L. Orr

Heats of formation of Au-Zn alloys of compositions Au3Zn and AuZn were rneasured at several temperatures by liquid tin solution calorimetry. The data for Au3Zn show that much smaller heat and entropy effects are associated with the a2- a1 transformation than for the a1 - a transformation. This result is consistent with reported X-ray diffraction studies which indicate that the a1 and (a2 phases have ordered structures which only slightly differ, whereas the a phase is disordered. The heat of formation of AuZn(ß') does not change significantly between 322o and 8000 K, confirming that the ß' alloy remains highly ordered to high temperatures. Not many measurements have been made of the energies of order-disorder transformations in alloy phases. In many cases these energies may be conveniently determined by measuring heats of formation as a function of temperature. Many alloy phases approximately obey Kopp's law of additivity of heat capacities; as a consequence their heats of formation do not change with temperature. In ordered alloys, however, a decrease in degree of order with increasing temperature will contribute an endothermic component to the heat of formation. Thus, for ordered phases where other anomalous contributions to heat capacity in the alloy or its pure components are absent, a measured change in the heat of formation may be attributed to the energy of disordering. A portion of the Au-Zn phase diagram1" is shown in Fig. 1. The composition AuZn(ß') has a well-ordered superlattice structure of the CsCl type at room temperature. The alloy is considered to remain ordered to its melting point,1 although, from X-ray diffraction data and electromotive force measurements of zinc activities, Terpilowski3 concluded that considerable disordering began at -673°K. The Au3Zn composition is a disordered fee solid solution (a) at high temperatures. Between 693o and 543oK, the ailoy orders to form the a1 phase, having a structure based on the L12(AuCu3) type, but with a regular distribution of ordering faults in the c direction, making it tetragonal. Below 543oK, the alloy orders further by means of slight atomic shifts, without diffusion, yielding a complex long-period orthorhom-bic superlattice structure, a2.4-7 Heats of formation of Au3Zn(a2) and AuZn(ß') were measured at 363°K by Biltz et al.8 by aqueous solution calorimetry. Heat capacities of several alloys between 14.9 and 38.4 at. pet Zn in the range from 373" to 723°K were measured by Iwasaki ef al.6 Stoichiometric Au3Zn, however, was not included in the alloys measured, the nearest composition being 26.1 at, pet Zn. Also, the heating rate used for the measurements, 2 deg per min, may not have permitted equilibrium to be reached in the neighborhood of the transformations. Heat contents of solid and liquid AuZn were measured between 488o and 1138°K by Kubaschewski.9 It was decided to determine the ordering energies of Au3Zn and to check on the possible disordering of AuZn by measuring the heats of formation of these alloys at several temperatures. The present paper reports measurements by liquid tin solution calorimetry of the heats of formation of the three phases of Au3Zn at temperatures within their regions of stability, and of AuZn at a low (322°K) and a high (800°K) temperature. EXPERIMENTAL Alloy Preparation and X-Ray Examination. Ten-gram ingots of Au3Zn and AuZn were prepared by melting weighed amounts of gold (99.95 pct Au) and zinc (99.99 pet Zn) together in sealed evacuated Vycor tubes at 1060°K, followed by rapid quenching. The resulting ingots were homogenized at 900°K for 10 days. The Au3Zn alloy lost no weight in preparation, the loss from the AuZn alloy was enough to introduce an uncertainty of only 0.1 at. pet in its composition. Filings for X-ray examination were taken from various parts of each ingot and strain-annealed at 723°K for 20 min in vacuo. The Au3Zn filings were quenched rapidly to retain the disordered phase. Diffraction patterns were determined with an X-ray dif-fractometer using copper Ka radiation.

Jan 1, 1968

By R. V. Higgins

This paper presents a computer method to obtain the shape factors and equal cell volumes of the channels for any well spacing pattern from a potentiometric model. By using this program the authors have processed the data for the seven-spot, direct line-drive and the staggered line-drive patterns. The data for the five-spot pattern had been previously processed by a noncomputer method and are included for completeness. The shape factors and volumes for the channels are presented in tables for those who want to use them to process data using their own permeability relationships and viscosities of their reservoir oils. The authors have used the data and sets of representative permeability curves to process sample calculationr of waterflood performances. The comparison of the calculated results shows that the influence of well spacing is small. The permeabilities of the reservoir rock to oil and water had a greater influence on oil recovery for a given pore-volume throughput of water than the well spacing pattern. The more water-wet the reservoir rock, the better the possibility of permeabilities which are conducive to good recovery. The viscosity of the reservoir oil also influences the recovery more than the well spacing pattern. The reduction in the percentage recovery of oil with increase in viscosity of the reservoir oils is small when oil viscosities are in the range of 0.1 to 3. Above this range the reductions in recoveries are extensive. Sample comparisons of the time required for different patterns to recover the oil are presented. Results of an example calculation are given to show the effect of the permeability profile on recovery. INTRODUCTION The effect of well spacing pattern on the recovery of oil when flooding with either gas or water has been studied by many investigators. Muskat et al.1 presented an analysis using conductivity, sweep efficiency and unit mobility to the time of breakthrough. Dyes et al.2 used experimental techniques (X-ray shadowgraphs) and different mobility ratios. They presented quantitatively the relationship between mobility and sweep efficiency at and after breakthrough. Hauber3 presented a method to predict waterflood performance for arbitrary well spacing patterns and mobility ratios. Craig et al.,4 using techniques similar to Dyes et al. to determine sweep efficiency for a five-spot pattern, added the use of relative permeability curves at breakthrough and thereafter. Douglas et al.5 sed rela- tive permeabilities and continuously changing saturations throughout the entire five-spot flood pattern. In obtaining their solutions they used finite-difierence equations. Hig-gins and Leighton6,7 also used relative permeabilities and continuously changing saturations throughout the pattern before and after breakthrough. They employed techniques that process a flood-pattern calculation on the computer in about one minute. The methods of Douglas et al. and Higgins and Leighton both checked closely the laboratory results for a wide range of mobility ratios. This paper presents some sample performances calculated by the Higgins and Leighton method that show the effect on recovery of different permeabilities and viscosities using the seven-spot, the line-drive and the staggered line-drive, as well as the fivespot flood pattern. No previous paper has presented these data using different permeability curves and continuously changing saturations throughout the flood patterns. The paper also presents (1) the results and analyses of the flood-pattern prediction, (2) the computer techniques for determining the shape factors and volumes from the potentiometric models for the foregoing flood patterns, and (3) the shape factors and volumes of the channels of the flood pattern in the event reservoir engineers may like to process waterflood calculations using their own permeability curves and reservoir oils. DESCRIPTION OF METHOD VOLUMES AND SHAPE FACTORS The use of channels taken from a potentiometric model (see Fig. 1) to aid in calculating the performances of water floods of nonlinear patterns has been thoroughly explained in the literature.0,7 Therefore, very little theory, discussion, or proof regarding this phase will be repeated in this paper. The computer method presented in this paper to calculate the volumes and the shape factors of the channels of potentiometric models employs the trapezoidal rule for the volumes and the Pythagorean theorem (the hypotenuse equals the square root of the sum of the squares of the two sides of a right triangle) for the shape factors. In calculating the volume of a channel, the area of each cell in the channel is determined and then multiplied by the thickness to obtain the volume. In determining the areas of the cells, trapezoids are constructed whose vertical sides are spaced Ax apart, as shown in Fig. 2. The length of the sides is the difference between an ordinate cut off by the top and bottom of the cell — usually equipo-tentials. The coordinates of the points along an equipo-tential or streamline are obtained by Lagrange's8 equation of interpolation for which the constants are coordinate points at the intersections. Three intersections for con-

Jan 1, 1965

By Sam Tour

OF the new alloys achieving commercial prominence during the year, an aluminum-silicon magnesium casting alloy, which is similar in many respects to the 4 per cent copper alloy, developed about 1921, which has attained such a wide field of service, may be mentioned. The new alloy, like the old, is a heat-treatable type and develops about the same physical properties. The alloy casts easily and is relatively insensitive to high pouring temperatures. Its ability to produce substantially leak- proof castings is noteworthy. A second casting alloy development is the new Aluminum Co. of America No. 132, "Lo-Ex" piston alloy, a result of nearly eight years of research. The alloy contains about 14 per cent silicon and varying amounts of nickel, copper, and magnesium. It exhibits a low coefficient of expansion and thus permits small piston clearances. Its lower specific gravity is a further advantage.

Jan 1, 1932

Henry Louis, Newcastle-upon-Tyne, England (communication to the Secretary): I think very highly of the novel and ingenious device of Prof. Richards for analyzing the movement of the various elements of the jig; it is a method that certainly seems to promise valuable results, if we could only make certain that these various indicator-appliances have no effect upon the action of the jig. I would like, however, to suggest that in future experiments the connection between the plunger indicator-rod and the pencil should be made by means of parallel motions, so as better to reproduce the rectilinear motion of the piston. I should expect, if this were done, that the " curve " of the plunger in the Harz jig, at any rate, would be represented either by straight lines or else by quite regular curves, according to the method by which the plunger is set in motion; the apparent combinatioil of straight line and curve seems difficult to explain. With respect to the water-curve, I am afraid I am completely at fault, but no doubt Prof. Richards can explain my difficulty. In Fig. 2, the areas of the screen-side and the plunger-side of the jig are equal. If the piston be a fair fit and the bottom of

Jan 1, 1897

By W. M. Albrecht, W. D. Klopp, R. I. Jaffee, B. G. Koehl

Kinetic studies were made of the reactions of tantalum with oxygen, nitrogen, and air at 400o to 1500°C. The tantalum-oxygen reaction is linear from 500° to 1250°C. The tantalum-nitrogen reaction follows a cubic rate law at 400° to 700°C and a parabolic rate law at 800" to 1475°C. The reaction behavior in air is initially parabolic followed by a transition to linear behavior. In the search for high-temperature materials, considerable interest is being shown in the refractory metal, tantalum. It is the third highest melting metal with a melting point of 2996°C. Also, tantalum has excellent ductility, making it one of the most workable refractory metals. In considering high-temperature applications of tantalum, the oxidation kinetics of the metal must be known. Such information also serves as a basis for the development of corrosion resistant tantalum-base alloys. Therefore, this study was made to investigate the reaction of tantalum with air, nitrogen, and oxygen. LITERATURE Several oxides of tantalum have been reported. The pentoxide, Taz05, is the only oxide of tantalum whose identity has been established. A high-temperature modification, aTa2Os, has been reported by several investigators.1-4 A low-temperature phase, ßTa2O5, undergoes an allotropic transformation at 1320o to 1350oC. 5-8 Four other oxides of tantalum have been reported. The oxides TaO2, TaO, and Ta4O have been reported by schonberg.9 A suboxide Ta2O, was observed by Wasilewski 6. However, the presence of oxides lower than Ta2O5 is questioned by Lagergren and Magneli.7 In oxidation studies, vermilyeal0 and Peterson, et al.,12 reported one possible phase intermediate between Ta and Ta2O5. Only Ta2O5 was formed in the tantalum air reaction, as reported by Michae1.l3 Several studies have been made on the kinetics of the tantalum-oxygen reaction. vermilyeal4 investigated the range 50° to 300°C and found that the rate of growth of a thin adherent oxide film could be described by the Cabrera-Mott theory. Gulbransen and Andrew15,18 studied the reaction kinetics of tantalum in oxygen pressure of 1/10 atm at 250° to 450°C. At all temperatures the reaction followed the parabolic rate law for periods up to two hours. The oxidation behavior in the range 500" to 1000°C was found to be linear at oxygen pressures of 0.2 to 600 psi according to Peterson. et al.l1 At very low pressures (1 x 10-3 to 2 X lo-' mm of Hg) Gebhardt and seghezzi17 reported linear oxidation at 800° to 1500°C. The reaction of tantalum with air is similar to the reaction with oxygen. Studies have been made by Waber, et a1.,12 and Michae1.l3 Two nitrides of tantalum, TaN and Ta2N are known. Their structures have been determined by Brauer and Zapp 18,19 The tantalum-nitrogen reaction kinetics have been investigated by Gulbransen and Andrews. 15, 16 The reaction follows the parabolic rate law at 500° to 850°C at a nitrogen pressure of 1/10 ,atm. At the same temperature, the tantalum-nitrogen reaction is much slower than the tantalum-oxygen reaction. EXPERIMENTAL TECHNIQUES Material— The material used in this study was high-purity, electron-beam-melted tantalum obtained from the Temescal Metallurgical Corp. The hardness of the as received ingot was 76 Vhn. The analysis of the material is given in Table I. Methods—Cylindrical specimens of tantalum approximately 0.9 cm in diam and 0.5 cm in length

Jan 1, 1962

By P. K. STRONG

AS an evidence of the fact that mines safety is not being neglected even in the remote district of the Philippines, a short account is appended of the organization and activities of the Mambulao-Paracale District First Aid and Mine, Rescue Association, whose headquarters are at Jose Panganiban Cam, Norte P. I. The second annual miner?s safety celebration which is sponsored by the Association was held in Paracale on Sept. 2, 1940. The event is the big occasion of the year when the thousands of employees of the mines in the district meet to compete for prizes and has become a great social function as well.=

Jan 1, 1941

By George M. Fowler

MINING geology is a progressive study, so we must look to the future for the solution of many of its most significant problems. These problems, world-wide in scope, offer ample opportunity for the exercise of the utmost skill and intelligence by all that attempt to solve theta, as it is generally recognized that many ore deposits of the future will he found only by months or years of combined intelligent effort by the several engineering groups. Renewed appraisals are continually being made to better understand the relationship of physical-chemical processes to ore deposition and other mineralization and to interpret the findings of the geophysicists and others in terms of economic results. A study of current geologic activi¬ties clearly reflects the growing tendency for cooperation between the different branches of geology in order to appraise their united efforts. In line with these activities arrangements have been made to transfer the geophysical section of the U. S. Bureau of Mines to the Geological Survey.

Jan 1, 1936

By Walter E. Hopper

The Caddo oil-field, shown in Fig. 1, is located in Caddo parish, northwestern Louisiana. The known producing territory of oil is covered by townships 19 N, 20 N, 21 N, 22 N, and ranges 15 and 16 W., shown in Fig. 2. The center of the field may be taken as Oil City, 24 miles north of Shreveport, on the Kansas City Southern railway. Shreveport is the second largest city in the State, and is the connecting point of five railroad-lines. Drilling at the present time, however, is going on all over northern Louisiana, especially in Caddo and the neighboring parishes. During the winter of 1908-09 I spent 'four months in the Caddo field, under the direction of the Louisiana Geological Survey and the U. S. Geological Survey. II. History and Development. Natural gas escaping at the surface is found at numerous places in northwestern Louisiana. At Shreveport, the plant of the Shreveport Ice & Refrigerating Co. has been lighted by natural gas for 20 years. The well was drilled for water, but was abandoned on account of the gas. A test well, put down in 1905 near the western limits of Shreveport, was driven to 1,650 ft., and encountered indications of gas and oil at various depths, but did not succeed in finding enough to be profitable. Attention was first attracted to the Caddo field in 1895 by indications in water-wells from 40 to 60 ft. deep, in which the pressure of natural gas was noticeable. This indication of gas in a shallow well led to the drilling of the first well in the Caddo field, the old Savage Brothers & Morricell, or the Caddo Lake Oil and Pipe Line No. 1. The rig for this well was erected in May, 1904, and drilling began in June, 1904. The well was bailed Mar. 23, 1905, with a small amount of oil. It was deepened July, 1905, and converted into a "gasser" Jan. 3, 1906. It was abandoned January, 1907. In consequence of the finding of oil in the Savage well, drilling-operations were pushed with energy; and in April, 1905,

Jan 1, 1912

By Rollin A. Pallanch

THE Midvale mill of the United States Smelting Refining and Mining Company is situated on a flat site whose elevation is 50 ft above that of the Jordan River. Tailings are impounded in the area between the river and the flat upon which the mill and railroad switchyard are located. The water supply is pumped from the Galena canal which leads from the river at a point some ten miles to the south. The mill has a present capacity of approximately 1700 tons daily. It started out originally in 1926 as a 750 ton three-unit plant. The tonnage was gradually increased to 1200 tons by 1934, and in late 1935 a fourth unit was added. The accompanying flowsheet shows the principal equipment and how it is utilized. The ore is principally sulphide with varying degrees of oxidation, with individual lots ranging widely in both precious and base metal content. In each of the four individual units of the mill there will often be mixtures of as

Jan 1, 1948

By Bedrand L. Johnson

THE phosphate-rock industry is built upon natural deposits of rocks and minerals in which the element phosphorus is present as a phoshate. The term ?phosphate rock? is a general one, applied to certain rocks of different degrees of consolidation and of diverese origin, charater and occurrence, composed of intimate mixtures of several phosphate minerals, largely submicrocrystalline, usually calcium phosphates, in commerical quantities, with various impurities. This term includes phosphatized limestones, sandstone, shales, and igneous rocks; nodular phosphates ; residual weathered phosphatic limestones ; vein phosphates ; and phosphatic sediments, both consolidated and unconsolidated.

Jan 1, 1944

Mr. Tays (communication to the Secretary): Mr. Wynne's criticism of my paper* brings forward a few points which are really important, and might properly have been considered in the original paper. By calling attention to them he has rendered me a service. It is quite true, as Mr. Wynne says, that, in the tests reported by me, the Bryan mill was always working at a relative disadvantage, and my comparison of the work of this mill with that of the stamp-battery should be interpreted, therefore, so much the more favorably to the mill. Of course, wire screens can be used to advantage on the Bryan mill, if they are not of smaller size than 30-mesh; but

Jan 1, 1902

By J. G. Thompson

PROJECT 8411 of the U. S. Bureau of Standards, sponsored by the Iron and Steel Division of the A.I.M.E., is an attempt to define more concisely than has been possible heretofore the accuracy and the Limits ' of usefulness of the ' various methods now in use for the determination of oxygen as it exists in ferrous materials. It originated in correspondence between John Johnston and other metallurgists, and was brought to the attention of the Iron and Steel Division of the Institute at the Annual Meeting in February, 1933. As reported in MINING AND MET,ALLURGY, Vol. 14, page 152, March, 1933, "Dr. Johnston introduced, and those present adopted, a resolution that the Iron and Steel Division of the A.I.M.E., believing that a careful comparison of the several methods now in use for the analysis of steel for nonmetallic elements such as oxygen is highly desirable, heartily endorses the proposal that the U. S. Bureau of Standards act as a clearing house " in this matter, undertaking the final preparation and allocation of identical samples to those laboratories willing to collaborate in this important question, and collate the results re- ported back to the Bureau.'"

Jan 1, 1934

By Dr. O’Neil Thomas J., Donald W. Gentry

"If you can hold a board of cross directors In happiness against their gauzy schemes; If you can dodge the wrath of the electors Till dividends will flow as in their dreams; If you can make a mine pay from the grass roots No matter what the time or place or year; Then on my soul until the final blast shoots We'll add the title "MINING" when we call you "ENGINEER. " -From Wayne Darlington, "The Mining Engineer, " The Engineering and Mining Journal, Vol. 98, Sept. 26, 1914, p. 587. REASONS FOR THIS CHAPTER Up to this point in the book the material presented has addressed the fundamental parameters associated with the evaluation of mining ventures and other investment alternatives. The procedures and techniques illustrated represent the basic approach to project evaluation, particularly when considering the normal engineering economic analysis of investment proposals. The evaluation procedure is complicated, however, when dealing specifically with mining-related investment proposals. These complicating factors are invariably directly related to the many special characteristics of the mining industry. Many of these special features such as tax policies, revenue and cost estimation, and ore reserves have been addressed in previous chapters. In addition to the many special features of mining which directly impact, in a quantitative manner, the various line items in the pro forma income statements of a cash flow analysis, other features of mining affect evaluation procedures in a more general manner. The main purpose of this chapter, then, is to provide an exposition of some of these more qualitative factors. We hope this will enable the reader to recognize these factors in mine evaluation practice and to make suitable adjustments in his or her analysis.

Jan 1, 1984

By AIME AIME

THE Board of Directors of the Institute has authorized the appointment of a committee to draw up rules of procedure under which awards can be made from time to time to petroleum engineers for outstanding contributions to the art of finding and producing oil and gas. These awards will 11e sponsored by the Petroleum Division and are the first recognition by any professional society of outstanding achievement in "oil mining." They will be in the form of either a gold medal, scholar- ship, or other suitable prize. The awards will be financed from the income of the Anthony F. Lucas Memorial Fund, which was started about fifteen years ago, shortly after' his death, by admirers of Captain Lucas.

Jan 1, 1936