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By F. G. Loper

Simulation as a mathematical technique is not new. However, recent increases in digital computer speeds and the ease of programming with languages such as Fortran have centered a good deal of attention around simulation in the last few years. By ignoring all but the relevant characteristics of a process, a mathematical simulator may be constructed which, when fed operating data, should react as the process would. The output becomes numbers, instead of tons, however. Thus, a trial-and-error operation of such a simulator will permit management to study a major system change at little cost.

Jan 1, 1967

By James M. Polatty

FOR structural as well as economic reasons, sanded grout rather than neat cement grout should be used wherever possible. The chief drawback in using sanded grout mixtures, however, is the tendency of the sand to settle out, causing problems in pumping. Manufactured sands have not been used in sanded grout because it has been assumed that their irregular particle shape would add to the pumping difficulties. The Concrete Division of the Waterways Experiment Station in Jackson, Miss., has conducted a comprehensive investigation of grouts containing both natural and manufactured sands. In the study of manufactured sand grouts an investigation was made of physical characteristics, ease of pumping, and the effects of adding certain mineral fines. The amount of material passing 100 mesh ranged from zero to 25 pct. Results were compared with test results for natural sand grouts.

Jan 3, 1958

(This list. includes only those who have entered military service within the past month, or whose entry has only recently become known to us; it also includes a few names of those whose titles or assignments have been changed within the month. A complete list will he found in the Year Book mailed with this Bulletin. Another Honor Roll is maintained in the reception room of the Institute.) ALDEN, HERBERT W., Lieutenant-Colonel, Ordnance Dept. ALDER, ALFRED; Engineers' Reserve Corps. ALFORD, NEWELL G., Sergeant, Bureau of War Risk Insurance, Headquarters 84th Division. AMBLER, HARRY A., Lieutenant, 30th Infantry. ANDERSON, GEORGE K., JR., Sec. C, 1st Co.; 3d Officers' Training Camp. AYER, -FRANK A., 1st Lieutenant, 43d Squadron, 3d Prov. Regiment, Aviation Camp.

Jan 3, 1918

By D. F. Toner

THE decomposition of the ß phase in the copper-aluminum system has recently been subjected to considerable investigation1-4 As a result of this work, principally by Haynes, much additional interest has been aroused concerning the various transitional or metastable phases in the Cu-A1 system. No attempt has been made to resolve the question of whether the PI and ß" phases of Klier and Grymko5 are the same as the rosette-shaped phase first observed by Smith and Lindlief6 in 1933 during an isothermal transformation study of an eutectoid alloy. It is the purpose of this study, however, to obtain

Jan 1, 1960

By Cyril Stanley Smith

The following table, which is composed of data given in the author's first paper on the thermal conductivity of copper alloys1, contains tile results which have been obtained by previous workers on the thermal conductivity of the copper-tin, the copper-phosphorus and the copper-tin-phosphorus alloys (the phosphor bronzes). a Dr. Ing. Diss., Aachen, 1909. Quoted by Schenk: Ann. der Phys. (1910) 32, 261. b Beibl. Ann. der Phys. (1906) 29, 178. c Jnl. Inst. Metals (1928) 39, 375. d Jnl. Inst. Metals (192.5) 34, 43. e Ges. Abhand. Kennt. Kohle (1919) 4, 400. Experimental Methods Since the method of obtaining measurements of the thermal conductivity was identical with that described in the author's previous paper

Jan 1, 1931

By Alex G. Sciulli

This paper discusses the primary computer programs used by the Mine Safety and Health Administration's Bruceton Safety Technology Center to evaluate coal refuse disposal plans. These programs are currently being used by private consultants, government, and the coal industry for today's coal refuse disposal problems. This paper outlines five programs, their special features, and their importance in the design and construction of coal refuse disposal facilities. The purpose of the paper is to present the general steps necessary in the computer-modeling of each program. The programs that are discussed include BISHOP, STABL, RWE, DAMS2, and HEC-2, which cover the subject areas of slope stability, hydrographs, flood routing, and water surface profiles.

Jan 1, 1983

By C. D. Rugen

Ground raw material as fed to the cement kiln generally is a mixture of two to four components, each of which may have widely varying physical and grinda-bility characteristics. Chemically similar materials found in the same or different deposits may also differ appreciably in physical properties, depending on their crystalline structure. The calcareous or principal cement raw material may vary from a soft chalky limestone or friable cement rock at one plant to a hard limestone or oyster shell at another plant. Argillaceous materials include clays, shales and granulated slag. Siliceous and/or iron-bearing material, including sand, iron ore and cinders, may also be required in addition for certain types of mixes. Frequently differences in grindability characteristics are not given the attention they deserve in comparing grinding results at one plant with those at another or in selecting suitable circuits or equipment. Many types of crushing and grinding units are used, with numerous open and closed circuit arrangements. Both wet and dry processes are used successfully. When rebuilding or installing a new grinding department, the choice of process or circuit in some cases may be dictated by the nature of the materials being ground but in other cases it may be the result of good salesmanship or a compromise. An over-all evaluation of wet process vs. dry process grinding should not be made without considering the effects on all other producing departments in the plant. In general, the more recent grinding installations, both wet and dry, have employed closed circuits, but many older open circuits are still in successful operation. In our experience, closed-circuit raw grinding pays, because of lower power consumption and less operating labor per ton of product. However, some dry open-circuit mills with improved equipment and operating methods compare favorably in performance with dry closed-circuit units. Character of Ground Raw Mix (Kiln Feed) Grinding in the cement plant in general requires a considerably her product than in most ore-grinding operations. A distinction between fineness of kiln feed and of cement may be made in that kiln feed preferably should be ground to a limiting size,whereas finished cement should include a range of size fractions including sufficient fine flours to give a product with satisfactory physical qualities. Grinding raw mix for kiln feed therefore is more comparable to ore grinding, although the limiting size is smaller. Most kiln feeds are ground from 85 to 95 per cent passing 200-mesh, depending on mix composition. Some cement chemists believe that raw materials cannot be too he, since finer particles theoretically combine more readily and intimately in the kiln. However, there are certain definite practical objections to extremely fine kiln feed, such as loss of kiln dust, unstable material flow through the kiln and greater dificulty in control of chemical composition due to dust loss, and the disproportion of fines from the more easily ground component. Our

Jan 1, 1947

By C. D. Rugen

Ground raw material as fed to the cement kiln generally is a mixture of two to four components, each of which may have widely varying physical and grinda-bility characteristics. Chemically similar materials found in the same or different deposits may also differ appreciably in physical properties, depending on their crystalline structure. The calcareous or principal cement raw material may vary from a soft chalky limestone or friable cement rock at one plant to a hard limestone or oyster shell at another plant. Argillaceous materials include clays, shales and granulated slag. Siliceous and/or iron-bearing material, including sand, iron ore and cinders, may also be required in addition for certain types of mixes. Frequently differences in grindability characteristics are not given the attention they deserve in comparing grinding results at one plant with those at another or in selecting suitable circuits or equipment. Many types of crushing and grinding units are used, with numerous open and closed circuit arrangements. Both wet and dry processes are used successfully. When rebuilding or installing a new grinding department, the choice of process or circuit in some cases may be dictated by the nature of the materials being ground but in other cases it may be the result of good salesmanship or a compromise. An over-all evaluation of wet process vs. dry process grinding should not be made without considering the effects on all other producing departments in the plant. In general, the more recent grinding installations, both wet and dry, have employed closed circuits, but many older open circuits are still in successful operation. In our experience, closed-circuit raw grinding pays, because of lower power consumption and less operating labor per ton of product. However, some dry open-circuit mills with improved equipment and operating methods compare favorably in performance with dry closed-circuit units. Character of Ground Raw Mix (Kiln Feed) Grinding in the cement plant in general requires a considerably her product than in most ore-grinding operations. A distinction between fineness of kiln feed and of cement may be made in that kiln feed preferably should be ground to a limiting size,whereas finished cement should include a range of size fractions including sufficient fine flours to give a product with satisfactory physical qualities. Grinding raw mix for kiln feed therefore is more comparable to ore grinding, although the limiting size is smaller. Most kiln feeds are ground from 85 to 95 per cent passing 200-mesh, depending on mix composition. Some cement chemists believe that raw materials cannot be too he, since finer particles theoretically combine more readily and intimately in the kiln. However, there are certain definite practical objections to extremely fine kiln feed, such as loss of kiln dust, unstable material flow through the kiln and greater dificulty in control of chemical composition due to dust loss, and the disproportion of fines from the more easily ground component. Our

Jan 1, 1947

By D. C. Holloway

Ceramic projectiles made from 94% to 99% alumina with a nominal mass of 3.1 gms were fired into granite blocks. The average compressive strength of the ceramic was 800 MPa and that of the rock was 135 MPa. Flat, ogive, conical and pyramidal nose shapes were evaluated at velocities ranging from 450 to 1400 m/sec. It was found that the conical and pyramidal nose shapes at the higher velocities did a significant amount of damage to the rock. On the average, they removed 10 5mm3 of rock and were six and ten times better than the flat and ogive nose shapes. It was also observed that increases in volume occur in discrete steps. This process is highly dependent on the ability of the projectile to penetrate the rock.

Jan 1, 1984

By E. Breinan, M. Salkind

Al3Ni whiskers were chemically extracted from unidirectionally solidified Al-A13Ni eutectic ingots, bent into loops, and heated for 0.1 to 10 hr at 320°, 415", and 510°C. The initial strains ranged from 0.003 to 0.055. In all cases, permanent plastic deformation was noted after heat treatment. The deformation consisted of relatively uniform bending at low stresses and temperatures and short times and kinking followed by fracture at high stresses and temperatures and long times. After kinking, the whisker segments adjacent to the kinks were found to have straightened, which is evidence of a dislocation condensation mechanism. The range of temperatures and strains at which time dependent plastic deformation was found indicates that creep of whiskers probably plays a role in the creep of A13Ni whisker-reinforced aluminum. WHISKERS may be defined as nearly perfect single crystals which exhibit high strength. Because they can support high stresses at relatively low strains, they have been successfully employed in reinforcing metals at both ambient and elevated temperatures. In studying the creep behavior of A13Ni whisker-reinforced aluminum at elevated temperatures,1,2 it was noted that the composites exhibited measurable creep deformation. This investigation of the creep relaxation of individual A13Ni whiskel, extracted chemically from the composite was initiated to determine if creep of whiskers could con. "bute to the overall creep of the composite material. Many observations of plastic deformation of metal and halide whiskers have been made. Brenner3-8 noted that copper, silver, and iron whiskers exhibited heterogeneous plastic deformation at room temperature when strained beyond their yield points. Gyulai9 and Gordon10 observed plastic deformation of relatively large (>3 µ) NaCl and KC1 whiskers, although the smallest, most perfect whiskers were completely elastic. Eisner" noted plastic deformation and microcreep of iron and silicon whiskers at room temperature after straining beyond the yield point. Whiskers reported to exhibit creep at stresses below the yield point were zinc1'-" and Silicon.15 Cabrera and price" observed some zinc whiskers which crept at room temperature after a short incubation period but then stopped creeping after a short time. Because some of their specimens exhibited no creep, they concluded that those whiskers that crept were relatively imperfect. Pearson, Reed, and Feldman15 observed similar creep behavior of silicon whiskers at 800°C. They also concluded that creep of the whiskers was a result of imperfections in their crystals. Brenner16 observed delayed failure of A12O3 whiskers at elevated temperatures but found no evidence of plastic deformation up to 2030°C (99 pct of E.EREINAN and M.SALKIND,JuniorMembers AIME,are Research Scientist and Chief, respectively, Advanced Metallurgy Section, United Aircraft Research Laboratories, East Hartford, Conn. Maunscript submitted April 5, 1968. IMD the melting temperature). Brenner also noted7 that some copper and iron whiskers exhibited delayed kinking above 350°C while others did not. One can conclude from these observations that small relatively perfect whiskers could exhibit completely elastic behavior during sustained elevated-temperature loading of composites. Since A13Ni whiskers tested in both bending and tension were found to exhibit no evidence of plastic deformation at room temperature'7'18 this study was initiated to determine whether or not creep of A13Ni whiskers occurred at the elevated temperatures at which creep in the composites was observed. Whiskers were chemically extracted from ingots of unidirectionally solidified A1-A13Ni eutectic, constrained in bending to various elastic strains and heat-treated. The bending constraints were removed after heat treatment and the amount of permanent set was taken as a measure of the time-dependent plastic deformation. EXPERIMENTAL PROCEDURES Ingots of eutectic Al-A13Ni containing nominally 6.2 wt pet Ni were unidirectionally solidified at approximately 11 cm per hr using a process described elsewhere.19,20 The starting materials were 99.99 pct pure. Cylindrical sections cut from the center of each ingot were placed in a 3 pct aqueous solution of hydrochloric acid and the whiskers were extracted as described previously.17 The whiskers nearest the surface were blackened somewhat due to overexposure to the acid while the center of the ingot was being dissolved These partially attacked whiskers were discarded. An intermediate zone of silver-gray-colored whiskers was collected and stored in methanol for use in relaxation experiments. Individual long pieces of A13Ni whiskers were placed on Fisher Precleaned Microscope Slides. These normally straight whiskers were bent elastically into arcs or loops of varying radii by manipulating their ends with a slender probe. The mass attraction between the whisker and the probe was sufficient to cause the whisker to follow the probe. The whiskers were retained in the elastic bend by the surface tension of a fine residual film on the slides. By using long whiskers, the action of the surface tension on the unlooped ends of the whisker allowed high elastic strains to be maintained in the loops. After each whisker was bent, a photomicrograph was taken for use in measuring the bending strain. The range of strains studied was 0.003 to 0.055. The bent whiskers were then encapsulated in Pyrex tubes at pressures between 10"6 and 5 x 10"6 mm of mercury and heat-treated at 320°, 415°, and 510°C (respectively 53, 61, and 70 pct of the peritectic decomposition temperature). After each heat treatment, the liquid film on the slides was found to have dried, but the whiskers were held in their original shapes by a residue on the slide. The minimum radius of curvature of each bent whisker was measured before and

Jan 1, 1969

Plans for the fall meeting of the AIME, to be held in conjunction with the Centennial of Engineering -marking the 100th anniversary of the Society of Civil Engineers-indicate that the Chicago gathering will be one of the most significant in Institute history. Headquarters for the six divisions represented will be the Palmer House. Twenty technical sessions will be held from September 3 to 6, with papers of industry-wide impact to be presented. The papers will follow the theme of the celebration-a century of engineering progress. The MBD will start the ball rolling with morning and afternoon sessions Thursday, September 4. A luncheon also will be held. MBD has scheduled morning and afternoon sessions for the following day as well. MGGD, Iron and Steel, and the Coal Div., will hold sessions Friday afternoon. The Industrial Minerals Div. plans an executive meeting, 5 pm, Friday. Geology Subdivision is slated for morning and afternoon sessions Saturday. The Coal Div. will meet again Saturday morning.

Jan 1, 1952

By Richard L. Gordon, Charles J. Johnson

Electric power demand doubles about every ten years, and because of the associated burgeoning fuel requirements, power stations absorb over half of the coal output in the United States. Throughout the 1960's, demand for coal utilized to generate electricity grew at an average annual rate of 6.5% but coal producers held back greater expansion because they expected nuclear plants to proliferate faster than they actually did. Even so, the growth rate is expected to continue at the 1960's rate until at least 1976. The continuation of the 6.5% growth rate beyond 1976, however, will require additional orders for coal-fired plants during the early 1970's. In fact, plants consuming a total of 130 million tons of coal must be ordered in the next few years. If the requisite plants materialize, total 1980 coal output for electrical power generation will be approximately 600 million tons.

Jan 1, 1971

By A. G. Metcalfe

Observations at temperature are used to investigate the phase changes in alloys containing more than 50 pct Co and above 1000°C. The nonsuppressible transformations in cobalt above 1120°C and in the intermetallic compound Co2Cr3 are studied. The liquidus and solidus surfaces are determined. Insufficient data is obtained to complete the constitution diagram. A REVIEW of some of the earlier work on cobalt' and on the binary systems with chromium2-4 and with molybdenum,5 showed that one likely source of differences might be attributed to the presence of phases at high temperatures which could not be retained by quenching. Consequently, the decision was made that only methods of examination at temperature should be used in this work. The correctness of this decision was confirmed during the course of the work by the investigation of the martensitic nature of the transformation in cobalt- and by the decomposition of the high temperature form of the phase Co2Cr3 on quenching.' The use of high temperature methods, including dilatometry and thermal etching led to the postula-tion of the existence of a high temperature form of cobalt with a probable hexagonal close-packed structure, transforming from cubic cobalt over a range of temperature from 1119° to 1145°C.8 One of the important pieces of evidence for this transformation was that it was observed in alloys with chromium and molybdenum which were nonmagnetic at this temperature so that confusion with magnetostriction effects was impossible. These results were not reported in this earlier paper, so that the data given here supply further evidence for the existence of a second allotropic transformation in cobalt. High temperature observations are necessarily much slower in producing results than the examination of quenched specimens at room temperature by conventional means such as X-ray diffraction or microexamination. The investigation has only covered a limited part of the field, as a result, extending from the liquidus down to about 1050°C and from the cobalt corner up to 50 pct alloying elements. The differences between the various reported diagrams for the constitution of the Co-Mo and Co-Cr systems have already been mentioned. The best available diagram in the first system is due to Sykes and Graff' which is shown in Fig. 1. Fig. 2 shows the latest Co-Cr diagram due to Elsea, Westerman, and Manning.' A comparison reveals that these are incompatible because of the disagreement with regard to the number of allotropes of cobalt. Elsea, Westerman and Manning took their liquidus and solidus curves from Wever and Haschimoto.2 The temperature horizontal in the two-phase field beneath the eutectic was placed 35" to 39°C higher than in earlier work2,4 with a new interpretation of the nature of this transformation. This interpretation also required a peritectic horizontal at about 1470°C, which has been confirmed here for an alloy with 53 pct Cr. No investigation had been made of the ternary system until after this work had been terminated, when a section at 1200°C was published." In this work a ternary compound was found by the X-ray diffraction examination of quenched alloys. This compound contained less than 50 pct Co, and was thus outside the field investigated here. However, some reactions were found dilatometrically which could not be fitted on the diagram and are now believed

Jan 1, 1954

By Arthur R. MacPherson

The development of a simple method to predict the autogenous grinding possibilities of new ore deposits is attained. This method employs a 45-cm (18-in.) dry grinding Aerofall mill to grind small quantities of core or crushed samples in the top size range of 2 to 5 cm (1 to 2 in.). An extensive program has been carried out to correlate the data obtained in the 45-cm (18- in.) test mill with the actual results obtained in large commercial plants or autogenous test plants. Enough evidence now exists from these correlation programs that the 45-cm (18-in.) mill can be used to grind small samples from a new deposit and correctly predict the autogenous grinding mill requirements of a commercial plant to treat this ore.

Jan 1, 1978

By C. Gregory Knight

The Pennsylvania Coal Model is a research activity of the College of Earth and Mineral Sciences of the Pennsylvania State University, in association with the Economic Development Council of Northeastern Pennsylvania, and the Southwestern Pennsylvania Regional Planning Commission. In this project, sponsored by the Appalachian Regional Commission and the Pennsylvania Science and Engineering Foundation, data banks and models have been developed to simulate potential coal production and utilization systems in Pennsylvania. Building from a coal system data base for 1974 and mining simulation models, computer optimization models predict potential coal production and transportation for alternative future demand scenarios. The model allows derivation of costs of various coal supply systems under specific economic, transportation, and environmental constraints. The model also provides insight into such impacts of coal production as employment, land use, and environmental quality.

Jan 1, 1977

By T. Cantwell, N. C. Rasmussen, H. E. Hawkes

Beryl is a mineral that may be difficult to distinguish from quartz by casual field inspection. The easily recognized green color and hexagonal crystal form of coarse-grained beryl are by no means universal, even in beryl from pegmatitic deposits. If it occurred as a fine-grained accessory mineral in an igneous rock, it would almost certainly escape detection unless samples were submitted for petrographic or chemical analysis. There may be substantial deposits of some beryllium mineral, other than beryl, that has been overlooked because that mineral also closely resembles the common rock-forming minerals. A reliable and simple method of identifying beryllium minerals and determining the beryllium content of a rock would be helpful in exploration. This article describes preliminary experiments in applying nuclear reaction to the qualitative identification of beryl and to the semiquantitative determination of the beryllium content of rock samples.

Jan 9, 1959

By S. Webster, M. Karmis, C. Haycocks

Mining any seam can seriously affect subsequent operations in coal seams both above and below the one being mined. The effect is often detrimental to the recovery, cost and safety of mining the subsequent seams. This paper describes the ground control mechanisms involved in mining through a passive subsided zone or all actively subsiding trough. Data were extracted from case studies, primarily from the Appalachia region, for construction of empirical models to predict interaction problems that can occur in overlying seams. Inner-burden thickness, innerburden lithology, percentage extraction, lower seam height, time and overburden were analyzed to determine their effect on upper seam damage. Magnitude of upper seam subsidence was incorporated, together with a broad classification of rock types, to predict the type and range of damage that can occur in the upper seam. Results are summarized in graphically and nomogram form for use in. engineering design.

Jan 1, 1984

By Henry Leidheiser, Melvin C. Jr. Hobson

The rate of formation of the intermetallic compound, indium antimonide, at the interface between iudium and antimony at 100°C is greatly increased when a composite electrode of indium electrode -posited on antimony is made the cathode in an electrolytic cell. The amount of indium antimonide formed during electrolytic treatment at constant potential appeared to he proportional to the square root of time, but the scatter of the data, particularly at long times, makes it impossible to state this conclzlsi1:ely. The rate constant for the electrochemical synthesis was estimated to he 1.5 x 10-12 sq cm per sec. A similar- set of experiments was conducted in the absence of an applied potential but under otherwise similar conditions. The rate constant lor the thermal synthesis was less than 2 x 10-14 sq cm per, sec, at least two orders of magnitude less than obtained during electrolytic treatment. In a series of electrochemical studies it was observed that intermetallic compounds formed on the surface of polarized electrodes.1'2 The possibility of using this technique for the electrochemical preparation of intermetallic compounds was investigated and subsequently applied to the synthesis of the semiconducting III-V compounds. Gallium antimonide, indium arsenide. indium antimonide, and indium bismuthide were successfully formed by electrodepositing the Group III element from a boiling acid solution onto an electrode made of the Group V element. The following kinetic studies were undertaken on indium antimonide to obtain quantitative information on the rate of formation of this representative III-V compound under a potential gradient. EXPERIMENTAL The electrolytic cell for these experiments was a modified, three-neck, round-bottom, 500-ml distillation flask. Sealed into the side of the flask was a Luggin probe which monitored the surface of the working electrode and extended out of the flask to a small reservoir containing a saturated calomel electrode. The counter electrode was platinum. The three electrodes were connected to a Wenking po-tentiostat which maintained a preselected constant potential near the surface of the working electrode with reference to a saturated calomel electrode. All potentials noted in this paper are with reference to a saturated calomel electrode at 45° ± 5°C. The potential and the current were both monitored using Sargent Model MR recorders. The antimony electrodes were cast in graphite molds to form spheres about 15 mm in diameter with a shank 6 mm in diameter and 10 mm long. A heavy copper wire (12B & S gage) was soldered to this shank. Collodion was applied for protection to the shank and the connecting part of the copper lead. A snug-fitting O-ring was slipped over the shank and the electrode was then fitted into a teflon holder such that only the spherical portion was exposed. The electrode surfaces were cleaned and chemically polished prior to assembly and introduction into the electrolyte by etching in a modified CP-4 solution (50 parts glacial acetic acid, 10 parts concentrated nitric acid, 2 parts 48 pct hydrofluoric acid). The electrolyte was 10-2 M In+3 in 1 MH2So4 and its temperature was held constant by refluxing. The reflux condenser was open to the atmosphere and no temperature correction was made for changes in barometric pressure. The indium concentration in the electrolyte was checked from time to time by the analytical method outlined below for the determination of the amount of indium antimonide formed electrochemically. A schematic of the recorded potential is shown in Fig. 1. At point A the antimony electrode was introduced into the cell and the open-circuit potential recorded. At point B the potentiostat, preset at the desired potential, was switched on. It was switched off at point C and the potential fell to the open-circuit value of the electrodeposited indium. The

Jan 1, 1965

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'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 ' the project'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 Frank W. Bowdish, T. M. Plouf

The purpose of this writing is to make available additional data, not previously published, on the zeta potential at various pH values of chrysocolla from the Inspiration mine, Arizona. Much research has been performed on chrysocolla, its physical properties, and its flotation, the results of which have not yielded a commercially acceptable flotation process for its recovery. The present data were collected and are presented to further advance chrysocolla research. Experimental For this investigation a carefully prepared sample of chrysocolla was used. This sample was obtained by crushing specimens from the Inspiration mine and picking out by hand the solid blue particles at -3+8 mesh, by grinding these to 10 mesh and repicking the +28 mesh sizes, by cleaning this product using magnetic separation, and by grinding and screening the material into fractions for final magnetic treatment on a Frantz Isodynamic Separator. All testing was done on the -100+150 mesh fraction. A chemical analysis was made on a portion of this fraction which was washed in dis-

Jan 1, 1974