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By Donald W. Gentry

In the mining industry, there are two widely accepted methods of determining the investment worth of a contemplated project. One of these is the payback method and the other is the more recent discounted cash flow (DCF) technique known as the internal rate of return. Both techniques can be useful, but it is important to know the assumptions and characteristics of each procedure and how these may affect an investment decision. The Payback Period-A Shortcut to Yes or No The payback period is simply the time it takes for the cash inflows from an investment to equal that investment. Understandably, projects with short payback periods are preferred to those with longer ones. The payback period may be measured either from the time the initial investment is made or from the time that it begins to yield positive cash flows, but the latter approach is more realistic because it permits more accurate allowance for lost interest on the invested capital.

Jan 1, 1971

By N. J. Olson, G. W. Toop

A series of equations previously derived for calculating ternary thermodynamic properties using binary data has been applied to the problem of predicting ternary phase diagrams and quaternary excess free energy. The methods are considered to be rigorous for regular ternary and quaternary systerns and empirical for nonregular systems. The equations have been used to predict ternary phase boundaries in the Pb-Sn-Zn system at 926°K and the Ag-Pd-Cu system at 1000ºK. Calculated quaternary excess free-energy values are presented for the Pb-Sn-Cd-Bi system at 773°K. A method for predicting the location of ternary phase boundaries would be a useful supplement to experimental measurements in ternary systems. This has been recognized with the considerable work that has been done to find models to predict or extend thermodynamic properties and phase diagrams in binary and ternary systems1-18 for which direct experimental measurements are limited. With the access to highspeed digital computers and mechanical plotting devices, it is currently rather easy to compare mathematical models with experimental data. The regular-solution model is consistent with systems which exhibit negative heats of mixing, positive heats of mixing, and miscibility gaps, and therefore it is applicable to simple phase diagrams. The purpose of this paper is to illustrate the use of regular-solution equations to predict, empirically, phase equilibria in some types of nonregular ternary systems. Corresponding equations for regular quaternary systems are given and used to calculate empirical quaternary excess free-energy data. METHOD FOR PREDICTING THE LOCATION OF TERNARY PHASE BOUNDARIES USING BINARY DATA Meijerin1,6 has used the regular-solution model to calculate common tangent points to ternary free energy of mixing surfaces and hence to determine phase boundaries in ternary systems involving miscibility gaps. He used the following equation to calculate ternary excess free energy of mixing values: stants characteristic of the binary solutions, and Ni is the mole fraction of component i. An alternate expression which gives for regular solutions as a function of binary values of along composition paths with constant N1/N2, N2lN3, and N1/N3 may also be derived:15 ternary r xs 1 ?c-*n.Ti*.U*. This expression for is more useful for the empirical calculation of ternary excess free-energy values for nonregular systems because actual binary AFXS data may be used in the expression rather than attempting to find suitable constants for Eq. [I]. The results of this feature of Eq. [2] are illustrated in Table I where calculated excess free-energy values for the Ni-Mn-Fe system at 1232°K are compared with experimental data of Smith, Paxton, and McCabe.19 Although regular-solution equations have been shown to give calculated thermodynamic quantities which agree quite well with experiment for single-phase nonregular ternary systems,14,15 care should be exercised in the use of the equations to predict thermo-dynamic properties of multiphase ternary systems in which strong compound formation is suspected. This precaution is consistent with the simple regular-solution model which for negative values of ai_j will indicate a tendency toward compound formation but even for very large negative values of ai-jwill not give multiphase binary or ternary systems involving a distinct stable compound. Hence, calculated ternary free-energy data using Eq. [2] might be expected to vary between being rigorous and poor, in the following order, for ternary systems which are: a) regular solutions, b) nonregular single-phase liquids in which random mixing is nearly realized, c) nonregular single-phase solids, d) nonregular multiphase systems exhibiting miscibility gaps, e) nonregular multiphase systems with binary compounds but no ternary compounds, f) nonregular multiphase systems with highly stable binary and ternary compounds. The calculated data will be expected to be least accurate for the last two cases. The general method adopted in this paper involves two-dimensional plots of ternary activity curves. The principle used is that tie lines indicating two-phase equilibria join conjugate phases a and B for example, for which a1(a) = a1(B), a2(a) = a2(B), and a3(a) = a3(B). Tie lines may be determined by plotting the ternary activities of two components along an isoactivity line for the third component and the unique points where the above equalities hold may be found graphically.

Jan 1, 1970

By G. R. St. Pierre, A. Ghosh

In the Si-C-0 system at temperatures of interest in process metallurgy there are four stable condensed phases—silicon, carbon, silica, and silicon carbide (Sic). Silicon melts at 1683oK1 and shows negligible solubility for carbon and oxygen at 1700°K. However, silicon dissolves approximately 1.5 at. pct C at 2500oK.2 Carbon in the form of graphite remains pure and dissolves negligible amount of silicon.' Silica (crysto-balite) melts at 2001°K' and is essentially a stoichio-metric compound. Silicon carbide is a solid and shows negligible deviation from stoichiometry up to approximately 2800oK.2 Besides the condensed phases there is a gas phase

Jan 1, 1970

By T. G. Nilan

Steels containing 0.4 and 0.8 pet C have been transformed isothermally at pressures up to 34 kbuv. Decomposilion mechanisms are so intimately related to phase equilibvia that, as the equilibria shift under high pressure, the microstruclures of the decomposition producls change, maintaining at pressure the same correspondence between a given phase equilibrium and a given microstructure as a1 1 atm. A bainitic unicvo-structure occurs in these steels at high pressure that IS observed only at 1 aim abole 1.4 pct C. This strrrcl111,e 1s ruliorzalized in terms of the effect of pressure on the transformation to lower bainite. The pressuve depetlderlce of the kinetics of pearlile formation is descrihed by an absolute rule theory amalysis. The activation volume for the transformation is 7 cu cm per mlole, which is indicative of a phase-interface transformation-rate cotntrol mechanism. This fortmulation, when expressed in terms of known solule effects on the energelics of tvansformation, gives promise of explaining the effects of alloying elemenls on hnrden-abilily, particularly that of 'coball. KINETIC processes in solids are functions of the primary thermodynamic variables of state: composition, temperature, and pressure. Until the development of high-pressure techniques' that permitted the generation of sustained high pressure at high temperatures, metallurgical studies of such reactions were largely limited to isobaric conditions at atmospheric pressure. The data so obtained, and theoretical deductions based on these data, were necessarily incomplete For the particular case of austenite decomposition, a knowledge of the phenomenology of the reaction in terms of all the state variables should lead to a clarification of the process. This deeper understanding should facilitate a decision between conflicting theories that have been proposed to rationalize these phe- nomena. An analysis, derived from an understanding of the transformation mechanisms, may aid in the optimization of alloy steel development. The first studies of the effect of pressure on transformations in steel were made by Kulin et al. in 1952.' In a study of the influence of applied stress on mar-tensite formation in a 30 pct Ni steel, they found that the martensite start (M,) was depressed 8°C per kbar* by hydrostatic pressure. Jellinghaus and Friedewold3 were apparently the first to investigate the effect of pressure on isothermal transformations above the Ms. They found that the bainite transformation rate in a 1.2 pct C, 3.8 pct Mn steel was reduced by a factor of 3 by a hydrostatic pressure of 4 kbar. In both of these investigations,2,3 the M, of the steels studied was below room temperature. Austenitizing and quenching were done at atmospheric pressure, followed by the decomposition of the metastable austenite under pressure. The maximum temperature at pressure in the bainite study3 was 350°C. Until the advent of the present high-pressure devices, it was not possible to conduct isobaric high-pressure heat treatments from austenitizing through isothermal decomposition and quenching. The exploitation of high pressure as a variable in metallurgical studies was greatly advanced by the apparatus and techniques developed by Hall4 and co-workers. Utilizing these techniques, Radcliffe et a1.5 and Hilliard6 etermined the pressure dependence of phase equilibria in the Fe-C system. Hilliard and cahn7 examined the pearlite transformation rate in an AISI 1080 steel and also in a high-purity 0.92 C Fe-C alloy at 1 atm and at 34 kbar and found a 700-fold reduction in rate at pressure in the 1080 steel but only a fivefold reduction in the high-purity alloy. In agreement with the shift of phase equilibria under pressure, the microstructures were hypereutectoid at 34 kbar pressure, whereas they are eutectoid at 1 atm. Determination of the effect of pressure on carbon diffu-

Jan 1, 1968

By T. A. Wright

The sampling of waste materials containing copper, lead and tin has taken on a new significance within recent years, and is of increasing importance, on account of the entry of some of the copper refineries into this field and the tendency towards consolidations among the smelters. In the past, such material was sold on the basis either of a rough or grat) sample or of casual inspection of the lot. The two principal sources of this waste are the processes of fabrication and the scrapping of automobile, electrical, plumbing, railroad and other equipment. In both cases rnuch material can bc sorted, salvaged and sold by classification and grade to be melted "as is" or with the addition of new or virgin metal. The increasing care in classifying exercised in the large manufacturing plants tends to incrcase the proportion of this usable scrap; on the contrary, the increasing use of more complex and special non-ferrous alloys tends to makc sorting and grading more difficnlt in turnings, borings, clippings, etc., and conseqllcntly is making sampling of more moment. In tin, lead, alumiinum, and zinc furnace by-products such as ashes, drosses, skimmings, etc., the trade practice of evaluation has not varied much. For instance, tin drosscs, battery lcad, and aluminunl skimmings are ordinarily sold on what is called "metallic button" or "metallic recovery" or "metallic yield." Coppcr and Icad wastcl, howcvcr, is being sold more and more on actual copper and lead contents bascd on sarrlple and chemical analysts. This paper will be dcvotctl chiefly to the sampling of niaterials suitablc only for refining and recovery of one or more of the metals present. The methods described are often bascd on thc fact that but one, metal, such as copper, is to be paid for. The loss of volatile constituents in melting does not appreciably affect thc final copper result, as the "after-melting" assay can be readily calculated to the "bcfore-nltltingl' basis, but if smelter efficiency continues to increase, so that in tiltie zinc, for instance, may be rccovrred on a paying basis, thc method of sampling dirty brass, for example, will have to bc changed also. As a matter of fact, we may cxpect that improved refining proresses will make possible the partial reeovrry of lcad and tin which are now lost

By M. G. Jones

AT the Edwards mine a 4 by 81/2-ft two-compartment shaft is used for men and supplies in the older workings down to the 900-ft level. All ore is hoisted through a 5 by 15-ft three-compartment vertical shaft which extends to the 1500-ft level. Ore pockets are on the 1300- and 1500-ft levels. The two-compartment countershaft used below the latter level is 6 by 12 ft inclined at 42°. Ore from the countershaft is hoisted to the 1350-ft level where it flows by gravity to the 1500-ft level ore pocket. One-ton skips are used in balance in the countershaft and two-ton skips, also in balance, from the 1500-It level to the surface. These skips are slung under the man cages. Each level has an ore pocket of 200 tons' capacity. Development at Edwards is similar to that at Balmat except that haulage drifts are only 7 by 7 ft. They are mucked with Eimco-Finlay No. 12 loaders. A drill carriage similar to that used at Balmat is being tried out on the new 2300-ft level, the present bottom of the mine. Drifts are driven below grade and later raised 6 in. and ballasted with waste leaving a ditch 6 by 12 in. at one side for drainage. All development is done on an incentive bonus system, the miner paying for his explosives.

Jan 1, 1947

By W. Tovote

This paper is based upon 12 years' experience in the Southwest, including three years that were spent in constant traveling as examining engineer for the Phelps-Dodge Corporation. The material was gathered during rather extensive work in Bisbee, Clifton-Morenci, Globe, and Tombstone, and also on short and rapid trips into most of the mining camps and prospect fields of New Mexico, Arizona, the desert country of California, and as much of Sonora as was safe at the time. My methods of observation and my deductions are not put forward as new or scientific; they are simply rough field methods, based upon short notes, rough sketches, and largely upon memory, which I have found useful for coördinating geological data for the purpose of passing quick judgment on mining possibilities in certain districts exhibiting uniform characteristics. The opportunities for observation have been better these last few years than ever before, due to the unprecedented activity in mining, which has caused the reopening of hundreds of old mines and the starting of even more numerous prospects all over the mining states. Possible Systems of Classification By Geological Provinces There are a number of well defined geological provinces in the territory under discussion, and a study of their individual features is of interest. The following are a few of those that are most striking in their uniformity. 1. The "Desert province," extending roughly from Wickenburg, Ariz., to and beyond Barstow, Cal. In its north-south extent it reaches up to the Colorado River and down into Sonora, but overlaps other provinces. It is characterized by a worn-down basement of schistose and granitic rocks, on which rest remnants of Paleozoic and pre-Paleozoic sediments, including very old limestones. The sediments are disrupted and contorted. Alteration in the mineralized areas is very prominent, especially in the schists and limestones. Cenozoic volcanic rocks, principally of semi-basic composition, have been intruded into this complex and sometimes cover it as lava flows. 2. The "Yavapai schist" province, similar to the one first mentioned, consists of metamorphosed basic and semi-basic rocks. It lies in northern

Jan 1, 1920

By H. L. Hartman

The estimation of the magnitude of pressure changes which occur in mine ventilation circuits is of primary importance to the mining engineer in making changes in an existing mine or in projecting the ventilation requirements of a new mine. It is a formidable task in many cases, because no adequate theory is available and empirical data are unreliable or even lacking. The common practice of increasing one's estimate of the mine static pressure by an arbitrary "safety factor" to compensate for the unknown is a poor substitute for accuracy. Generally little difficulty is encountered in calculating friction losses in mine airways. As long as the friction factor can be reliably estimated, the well-known Atkinson formula gives accurate results. However, it is in the determination of shock losses that the ventilation engineer encounters difficulty and is apt to resort to an arbitrary allowance. Shock losses may constitute as little as five or as much as twenty-five percent or more of the overall pressure drop in the mine, and such allowances are generally completely unsatisfactory. Since other shock losses have been covered by McElroy (1), this paper deals with a long-neglected source of shock and pressure change in ventilation circuits, divergence and convergence of airflows, here referred to by their more common mining terms, splits and junctions. PREVIOUS WORK There is practically no fundamental information available in ventilation literature on the splitting and junction of airflows, either in mining or mechanical engineering periodicals or handbooks. Fluid mechanics textbooks seemingly avoid the subject of divergence and convergence, except for brief empirical treatment. The only investigation reported for mine ventilation systems was by Weeks, et a1 (21), in 1933. Although applicable to the case of line brattices in coal mines, it cannot be applied to the general case of mine splitting and junctions involving change of direction with little or no area change. In dealing briefly with the subject of shock losses at splits and junctions, McElroy (1) suggests only that they be considered comparable to bends, with losses at junctions being increased 50 pct to allow for interference of merging streams. He recognizes the importance of quantity ratio but concludes that exact quantitative data are lacking to compute losses at splits and junctions. A very capable summary and analysis of the state of knowledge in industrial ventilation and fluid mechanics regarding losses due to divergence has recently been reported by Gilman (3). In considering all earlier work dealing with both air and water as fluids, he compares results on a common basis and obtains good empirical agreement. For divergent flow, the controlling variable in each branch is the quantity ratio, although the deflection angle is of secondary importance. Empirical equations are presented for straight and 90-deg branches with varying velocity ratios, assuming branches smaller than the main duct. These formulas are modifications of the Borda equation for abrupt contraction and expansion. The only information available on shock losses in convergent flow are approximate experimental data presented by Alden (4) and the Manual of Recommended Practice for Industrial Ventilation of the American Conference of Governmental Industrial Hygienists. Alden considers the effects of both quantity ratio and deflection angle. The data indicate an effect opposite to that observed in divergence, the shock loss varying directly with quantity ratio. SHOCK LOSS THEORY Because pressure losses due to shock have been found to bear a constant relation to the mean velocity of flow in a given conduit, they are frequently expressed as a dimensionless function of the velocity head, termed the shock loss factor. For airflow in ducts and mine airways, the shock loss may be represented by the formula (1): Hx - XHv, (1)

Jan 1, 1961

ALBERT SAUVEUR, Chairman. A. A. STEVENSON, Vice-Chairman. HERBERT M. BOYLSTON, Secretary, Abbot Bldg., Cambridge, Mass. John Birkinbine, William Kelly, J. S. Unger, William H. Blauvelt, Charles Kirchhoff, Felix A. Vogel, James Gayley, Richard Moldenke, Leonard Waldo, Henry D. Hibbard, Joseph W. Richards, William R. Walker, Henry M. Howe, C. F. W. Rys, William R. Webster, Robert W. Hunt, E. Gybbon Spilsbury, Frederick W. Wood. J. E. Johnson, Jr., The innovation of a special meeting under the auspices of the Iron and Steel Committee was well justified, if we accept as a criterion the number of papers presented at the meeting held on Oct. 16 and 17 in New York and the attendance at that meeting. Twenty-four papers were read, and most of these were widely discussed orally, while doubtless the written discussions will be even larger in extent. Discussions will be received up to Dec. 1, 1913. The attendance at the meeting of 106 members and 75 guests is an evidence of the wide anti growing interest in the Institute of men interested chiefly in iron and steel. It is especially interesting to note this large attendance at a meeting where very little of a social nature was introduced into the program. An informal dinner for the men at the Engineers' Club closed the meeting. At this dinner were present about 70 members and guests. One of the Vice-Chairmen and the Secretary of the new Committee on Petroleum and Gas told of the important plans in prospect of that Committee. Brief impromptu speeches by a considerable number of the members and guests were enjoyed. Professor Marburg reiterated his previous assertion that he believed that the Institute and the American Society for Testing Materials, as well as some of the other technical societies, were all fighting for one good cause; that there was room in the field for all of these societies with their various points of view; and that they should march shoulder to shoulder. The success of this dinner was due largely to the efforts of Mr. Johnson who had the affair in charge.

Jan 11, 1913

By R. W. Raymond

THE absence of a convenient glossary of terms connected with mining and metallurgy has long been felt by the general public. It is to meet this want, not to furnish a technical manual for experts, that the following glossary has been prepared. It originated in an attempt on my part to revise for publication the manuscript of a compilation prepared from the appendix of Yale's work on Mining Titles and one or two other sources, to serve as an appendix to a new work on mining law, about to be published by Mr. H. N. Copp, of Washington, D. C. This revision soon assumed, contrary to my original intention, the proportions of a reconstruction; and with the consent of Mr. Copp, and for the purpose of receiving from my fellow-members valuable aid, I presented my still incomplete work as a paper at the Lake Superior meeting of the Institute, inviting from any quarter suggestions of new terms or better definitions to be incorporated in the glossary before its final publication. This invitation was so widely and generously responded to, that I cannot undertake to make in this place individual acknowledgments to those members of the Institute, and professional colleagues outside of it, who have favored me with assistance and advice. The labor bestowed upon this paper since its presentation at the Lake Superior meeting has considerably exceeded that of its first preparation, as may be inferred from its great increase in length, as well as the numerous alterations which it has undergone. It could certainly be still further enlarged and improved; but I think a comparison of it with any of the glossaries of the same class now in print will show, at least, that it is an advance upon what has hitherto been accomplished. 1 shall be grateful, however, for further criticisms and suggestions; and I purpose at some future time to incorporate in a supplementary paper the results of such additional collections or corrections as I may obtain. To avoid too great prolixity, I adopted at the outset the following general principles: 1. To include the most important technical words and phrases used by American miners and metallurgists, or occurring in English books and periodicals.

Jan 1, 1881

By R. L. Sebastian

ALUMINUM'S war history is the record of a successful race to expand facilities fast enough to meet the multiple increases in military requirements, principally for aircraft. From the beginning of the war program in 1940 through 1942, requirements estimates were repeatedly lifted to new high levels, and plans for increasing capacity had to be constantly revised. In 1943, basic metal supply caught up with and exceeded requirements, and by 1944, the surplus of primary production was large enough to force reduction in output and plant closings. In the past two years, ingot capacity has been ample, though periodic critical shortages have been experienced for a few fabricated shapes as a result of sudden shifts in demand. And now with all controls lifted we are faced with surplus capacity, surplus stocks, and surplus scrap. In 1938 the Aluminum Co. of America was the only U. S. producer of primary

Jan 1, 1946

G. O. SMITH,* Washington, D. C.—This program is itself a demonstration of the widespread interest in the subject of more efficient development and operation of oil fields. The statements of fact already presented and the views expressed are sufficient evidence that the engineering and economic principles fundamental to the idea of unit operation are much more generally accepted than they were even one year ago. And real progress has been made in putting these principles to the test. No one realizes better than I that the fight against waste, whether physical or economic, must be waged in the front-line trenches: Washington at best is only an observation post. Yet viewed from this distance the advance made in the last few months has been notable and to a high degree encouraging. Five years ago the Federal Oil Conservation Board, in its first contacts with the industry, raised the question, "How can new pools be explored without exploitation until new production is warranted by the country's needs?" Three and one-half years ago the Board, in its first report to the President, paid largest attention, among what it listed as fundamental conservation measures, to "cooperative methods in sane development of new fields." A year ago, in its third report, the Board again endorsed as the essential factor in conserving the nation's reserves of oil, "full cooperation in unit control, whether by voluntary agreement or by state enforcement." The function of this federal agency has been purely fact-finding and educational. The Oil Conservation Board early declared that the major part of its task was to help the industry "formulate the broader by-laws in the sense of conservation." And now, after these five years of eventful history in the oil industry, may I size up the situation as I see it from the Washington point of view? First of all, and fundamental to a successful issue, I have observed in the industry a gradual acceptance of technical opinion as the guide to executive action; and this has at last led to some agreement as to what procedure offers most promise. Analyzed in more detail, this highly desirable progress has consisted in "self-restraint actuated by enlightened self-interest." We see emerging the general desire of oil producers for efficiency in operation, which means low costs and high recovery. As shown by facts presented at this meeting, competition in drilling is in direct opposition to efficiency in oil production, in that such competition increases costs and lowers recovery. The only route to conservation of this natural resource and also of the capital and labor involved in making it available is through unit control, which substitutes cooperative, well-planned action for competitive, unregulated activity, forced by the individualism of a small minority of landowners or perhaps by a single operator. Or, in terms of actual experience, development of an oil field and its subsequent operation under unit control means the substitution of majority rule for minority rule, yet the minority enjoys to the full the resulting economic benefits. So far as it affects the public interest, unit operation of oil properties deserves unqualified approval. It means more oil from the same area over a longer period

Jan 1, 1930

[Note.—The paper of Mr. W. H. Hoffman (Glen Summit, October, 1891; Trans. xx., 602), on "Practical Results in the Magnetic Concentration of Iron-ore," together with a paper by the same author (Baltimore, February, 1892; Trans. xxi., 126), on "Granulating Magnetic Iron-Ores with thesturtevant Mill atCroton Magnetic Iron-Mines, N. Y.," and also the papers Presented at this meeting,

Jan 1, 1893

By J. G. Hall

Introduction When one thinks about world metal economics today, it seems to me he must go beyond the traditional factors such as exploration, discovery, economic feasibility of development, management, labor, and the application of technology. These elements have been and will continue to be very important, of course, in making available the resources that experts believe the world will require during the remainder of this century. There are, however, some new forces as well as new or different emphasis on some of the old factors that could materially affect the development of the world metal mining industries. For example, in my own company two of the most significant considerations affecting our economics today have to do with foreign political decisions and with environmental concerns here in the U. S. -both of which play a far more significant role in our economic considerations than they did as recently as 10 years ago. After a brief look at some historical data and some projections of probable future demands for the world's major metals, I shall then identify and comment upon some of the factors that I believe will have an increasing impact on the future of the economics of our industries. I do not have any magic solutions to the problems we will face; nevertheless, we in the mining industries of the world are going to have to cope with these matters and find satisfactory answers to the problems they will create. The Past Although the age in which we live has been described as the atomic age, the space age and the computer age, we are, in fact, living in a metals age, and we have lived in a metals age for a very long time. The discovery of copper smelting, for example, is placed at about 4000 B.C. Gold was used in a primitive way before that. Other metals - lead, silver, tin, iron and mercury - were discovered and used before 2000 B.C. In all probability, we will be dependent upon metals beyond the vision of anyone living today. In industrialized nations of the world, man's mode of living is based to a great extent on metals, and it is extremely unlikely

Jan 1, 1971

By Robert L. Davidoff

INTRODUCTION The impact of taxation differs substantially from state to state in a complex fashion that depends on both the physical characteristics of a mineral deposit and on the price of the mineral commodity relative to its costs of production. A comparative analysis of the tax structures of eight states (Arizona, Colorado, Idaho, Montana, Nevada, New Mexico, Utah and Wisconsin) showed wide variations in rates of return for any given type of mineral property, with no state having either the most burdensome or least burdensome tax structure under all circumstances. Three hypothetical mineral operations were analyzed: a producing open-pit copper property, a non-producing underground platinum operation, and a non-producing underground gold operation. None of them corresponds exactly to an existing property. Each of these property types is further defined to have ore feed grades at three different levels, leading to three potential profitability levels, referred to in this paper as "economic", "marginal" and "subeconomic". Thus the differential impact of state tax structures is measured for mineral properties of different types, as well as for different profitability levels. Montana is used as the base case. This study does not address the topic of corporate structures or tax consolidation. There are no costs assumed external to the operation of the deposit (e.g. exploration to locate additional deposits). Two types of analyses were performed for this study. The first calculates the total cumulative tax payments in each state using all applicable taxes (including U.S. federal income taxes and examines the resultant differences in discounted cash-flows rate of returns DCFROR's amoung the eight states. The second is a sensitivity analysis that examines each type of state tax separately (i.e. state income, property, and severance taxes) in order to isolate and examine the differences in tax payments that are due to the difference in rates and methods of computing specific types of taxes in each state. The results of this study serve to illustrate the complex nature of interactions among various taxes. For example, property tax is a deduction in calculating severance tax in some state. Changes in property-tax and severance-tax payments both enter into the calculation of state and federal income-tax liability. This, in turn, could change the timing and usage of tax-loss carry forward amounts and investment tax credits. Additionally, the physical characteristics of a property, the method and costs at which the mineral will be extracted, and the profitability level at which each property operates will affect tax treatment. Each mineral operation was evaluated at three different predetermined profitability levels, referred to using the terms economic, marginal and sub-economic. These three profitability levels are defined by the ore feed grades of the primary commodity that yield in constant terms, approximately an "economic" 18% DCFROR, "a marginal." 10% DCFROR, and a "sub-economic" 5% DCFROR, respectively, under the Montana tax structure. In the analyses, the mining and processing parameters for each of the three types of properties were assumed to be identical for each of the eight states. It was assumed that each operation produces at full operating capacity throughout its life. This implies the level of mineral commodity demand will support the inferred commodity price, such that each operation will be able to sell all its output. The analyses performed for this study were done using a comprehensive economic evaluation simulator that is used in the Bureau of Mines, Division of Minerals Availability MAS program to perform DCFROR analyses. All economic evaluations performed upon these data (see appendix 2) were in constant January 1981 dollars. By-product prices used for the analyses were: [Gold $425.00/troy ounce Palladium$200.00/troy ounce Silver $ 10.00/troy ounce] Typical cash-flow calculation layout is given in Appendix 3. The initial step for each evaluation is to define an "economic" profitability level scenario. An 18% DCFROR rate in Montana was considered the

Jan 1, 1985

By W. R. Ingalls

THE manufacture of zinc oxide directly from the ore is one of the most important contributions that America has made to the metallurgy of zinc. Heretofore, this has been clone chiefly for the production of zinc and zinc-lead pigments, and the method has been known as the Wetherill process. While that term may properly be applied to the process for pigment manufacture, it must be recognized that the principles of the process are of far wider application; and that there is going to be wider application in the immediate future is more than an expectation. I have in mind the use of the process as a method of igneous concentration. Igneous concentration is broader in its scope than the Wetherill process, for it may be done in the blast smelting furnace, or in the reverberatory, or by other means. Igneous concentration is a rather clumsy term, and I prefer to introduce the new generic expression of "zinc burning," which is convenient, readily understood and precise, for in all cases the zinc oxide is reduced to metallic form, is volatilized and is then burned to zinc oxide, the latter happening, however, after the zinc has been separated from the residue of the ore. As previously indicated, zinc burning may be done either in blast or reverberatory smelting, the gangue of the ore being scorified and drawn off as slag, while other metallic minerals are reduced to matte or metal. Such processes have heretofore been practised on fairly large scales. Thus, F. L. Bartlett smelted zinc ores at Canyon City, Colo., in specially designed blast furnaces, wherein the smelting column was only about 18 in. high. Such a limitation was necessary in order to prevent zinky accretions in the shaft of the furnace, which in course of time would have interfered with its operation. In running the Bartlett furnaces it was easy to bar them off, indeed, to poke right down into the smelting zone, and keep things going freely. Some iron blast furnaces in Virginia and the spiegeleisen furnaces of the New Jersey Zinc Co. afford other examples of zinc burning in blast-furnace smelting, although in their cases the happening is incidental rather than a primary purpose.

Jan 9, 1917

By John Birkinbine

EXTENDED discussions, by inviting attention to problems affecting the conservation of natural resources, have encouraged investigations as to their sufficiency, with the general result that the more thorough the examination, the less cause appears for anxiety as to the exhaustion or serious depletion of these resources. The extent of industrial development, the large plants and the enormous volumes of materials required, when compared with conditions a few decades ago, are sufficiently startling to enlist the attention of those who "fear .the pace," and yet in but few instances has real solicitude for the future. been warranted by a knowledge of true conditions. In a former communication, presented 5 years ago,1 I endeavored to emphasize the fact that true conservation represented the best utilization of reserves and not the locking up of resources for future use; a conviction which has become more pronounced as the subject was investigated. Prophecies of the, early exhaustion of mineral resources have raised the question as to our permanent reliance upon these, and encouraged inquiries which have in most cases developed reassuring conditions. But the fact that the future appears less dark than prognosticated cannot excuse wastefulness or improvidence; and detailed study which demonstrates an apparent abundance of natural resources should encourage their best application. In making inventories of resources one is liable to confine conclusions as to availability upon present circumstances and conditions in the past, or to formulate data for the future upon methods which are rapidly being displaced. In reserves which are not reproductive, such as minerals, the possibilities of exhausting the supply are startling if estimates assume that future extensions will follow methods which were less economical than those now employed, or to he used, and we dare not claim that the limit of advanced practice has been attained.

Jan 9, 1914

By P. R. Martin, R. B. Kelly

Drilling in Central Texas during 1933 was confined, for the most part, to the search for new serpentine plugs. Bastrop County led in this particular activity, with 50 completions during the 12 months' period, 12 of which were productive. Only one new field was opened in Central Texas during the year, it being known as "Hilbig" (Bastrop County) and was discovered by the Humble Oil & Refining Co. The finding of commercial production in the serpentine at 2500 ft. led to further search in this and surrounding counties, but without success. Bexar County actually provided the greatest amount of drilling but the activity was limited to shallow development from 400 to 2000 ft. The Edwards limestone pay, which has been such a factor in past years, received but slight attention during 1933. Unsuccessful exploration was carried on in Lee and Burleson counties. With the exception of Freestone County, the Woodbine sand area was given even less consideration. This county, because of its close proximity to Anderson and Leon counties, saw a very active leasing campaign and several important tests drilled. In Central Texas, 252 wells were completed in 1933, and of this number 52, or 21 per cent, were productive. Hilbig Field The discovery well, Humble Oil & Refining Company's Annie Hassler No. 1, was completed Feb. 16, 1933, for an initial production of 65 bbl. the first hour, through tubing and 1/2-in. choke. The production was found in serpentine at 2468 ft. and tested 37.2" A.P.I. gravity. Twelve producing wells were drilled during the year and served to indicate that not more than 300 acres would comprise the entire field. Daily production at the end of the year was 775 bbl., although the field potential was 18,240 bbl. daily through 1-in. choke. The field adapts itself to pressure maintenance, and this scientific handling is being undertaken by the Humble Oil & Refining Co. through one injection well. It is the only area in the district where work of this nature is under way. Proration of Oil The more stringent application of proration in 1933 did not affect materially the producing fields in Central Texas. This is accounted for

Jan 1, 1934

By G. T. Lineberry, L. Adler

Due to safety-imposed constraints on clearances for mobile bulk handling equipment, it is necessary to optimally select a unit based on speed and size. The unit cannot be both large and fast. Since output is proportional to both size (or capacity) and speed, the combination must be carefully examined to maximize output. A simple graphical procedure and a calculus-based solution are presented to accomplish this. While the procedure applies to all mobile bulk handlers, as an example of the solution technique, attention is focused on shuttle cars. Background Major variables To fully define a bulk handling problem, the conditions, equipment, and activities must be characterized. The conditions and activities, when lumped together, are termed "encumbered space," since they "act to impede motion, as with a burden" (Lineberry, 1979). The insertion of mobile bulk handling equipment into what is already a difficult set of conditions and activities compounds the state of encumbrance, as limited space is competed for by many normal and life support systems. Long (1972) recognized the effects of design criteria, including road width, on haulage vehicle speed and, therefore, on production. Velocity-clearance curves Velocity-clearance curves are either available or can be constructed in the field. A preliminary set of curves for average conditions and activities is shown in Fig. 1, where clearances are only for the side of the vehicle (Lineberry and Adler, 1984). These curves set the safe speed limits for a vehicle operating at given clearances, under given conditions and activities. When feasible, velocity-clearance curves should be constructed through field measurement and observation. Curve construction should also consider haulway roughness, distances, and operator skill, as well as loading and dumping characteristics. It should be noted that haulage capacity determination is a total systems problem, not one just dependent on velocity and clearances. Production requirements and company capabilities also influence capacity determination.

Jan 1, 1986

By J. C. Smock

The magnetic and polaric properties of magnetite, or magnetic iron ore: are fundamental facts in magnetism. The disturbing erect of this mineral upon the magnettic needle in land surveying must have been very early observed. The difficulties arising from this source are still almost insurmountable in making accurate surveys in districts where this ore occurs to any extent, either as a rock