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By Michael Samis

The real option valuation method is often presented as an alternative to the conventional discounted cash flow (DCF) approach because it is able to recognize additional project value due to the presence of management flexibility. However, these two valuation methods can be separated on a more fundamental level by their differences in risk discounting. Real option valuation applies the risk-adjustment to the source of uncertainty in the cash flow while the DCF method adjusts for risk at the aggregate level of net cash flow. This seemingly small difference is the reason why the real option method is able to differentiate between projects according to each project?s unique risk characteristics while the conventional DCF approach cannot. This paper provides an overview of the real options and DCF valuation frameworks and discusses the differences in risk discounting that exist between the two methods. Using grade-school mathematics, this paper clearly demonstrates how, with real options, a unique project risk discount can be calculated which is directly linked to the project?s unique risk profile. It also highlights why the DCF method fails in this regard and shows why a call to ?increase the Risk-Adjusted Discount Rate? is an incomplete solution at best. Finally, a heap-leach project and satellite reserve development project are valued with both techniques and the difference in investment conclusions is explained in terms of the risk-discounting concepts discussed here.

May 1, 2003

By Ramesh Malhotra, Hubert E. (Deceased) Risser

THE WORLD Coal, as a source of energy and as a source of coke for the smelting of iron ore, has contributed significantly to the development of every major industrial nation of the world A number of other materials-oil, natural gas, wood, waste materials, water, and, in some applications, nuclear materials -can be used satisfactorily for the generation of heat and energy, but no generally acceptable and economic substitute has been found to supplant coke in iron ore smelting in conventional blast furnaces. In the development of many nations, coal provided the initial source of energy for industrialization Although coal provided more than 60% of the world's energy each year between 1902 and 1929, oil and natural gas have surpassed it as a source of energy in more recent years (Ref. 38, pp. 439, 441). Despite the rapid rise in importance of other fuels, a considerable amount of the total energy consumed is still supplied by coal. In 1972, coal supplied 32.1 % of the total world energy (Ref. 49, pp. 2-3). To produce this energy, 2.4 billion metric tons of coal were consumed-a 16.0% increase over the amount consumed in 1962. A further worldwide increase in the amount of coal used to supply energy is projected. According to Dr. Karlheinz Bund (Ref. 37, p 145), by the year 2000 world coal consumption could amount to 5 billion mt. Coal Resources and Production The world's coal resources are estimated to be about 10,872 billion mt. Of this amount, 1,297 billion mt are classified as measured reserves (Ref. 50, p. 57). In Table 13.A.1 the estimates of measured reserves and total resources, recent production, and the ratio of measured reserves to production of major coal-producing countries are shown. About 90% of the world's total coal resources are estimated to be in the USSR, the United States, and China. The United States ranks second in the world in coal resources, but in measured reserves, it ranks first. Because of the difference in rate at which available coal resources are being exploited, the ratio of measured reserves to actual production varies widely among areas and countries. France and East Germany have the lowest reserve to production ratios, 49.5 and 60.1, respectively. In Mexico, where currently less than 5 million mtpy of coal are produced, the ratio is 1257 For all countries producing more than 200 million mtpy of coal (except East Germany), the ratio ranges from 350 to 670. For the United States, the ratio is 669.7. In Table 13.A.2, distribution of the world's coal resources by area is shown. More than 97% of the total resources lie in the northern hemisphere, with Asia, including European USSR, having 63.4%. Only 1.9% of the total coal resources are estimat-

Jan 1, 1976

By E. P. Klier

THE work of Klier and Lyman1 on the bainite reaction has led to the full description of this reaction for medium-carbon low-alloy steels. Certain experimental data reported by Klier and Lyman appear, however, to be improbable of obtaining in very high-carbon steels. The study herein reported consists of an analysis of the transformation characteristics of a 3 per cent chromium, 1 per cent carbon steel by means of X-ray and metallographic methods. From the results obtained it is concluded that the bainite reaction in this steel is more complicated than that reported by Klier and Lyman for the low-carbon low-alloy steels. However, the mechanism of bainite formation in this steel appears to be essentially the same as proposed for the low-carbon low-alloy steels with the modification that the first volumes to transform are carbon-rich rather than carbon-poor. EXPERIMENTAL PROCEDURE The analysis of the steel studied was: Cr, 2.89; C, 1.02; Mn, 0.33; Si, 0.35; S, 0.012; P, 0.020. The stock was received from the Carpenter Steel Co. in rolled bars. Specimen Preparation Specimens were austenitized at 1200°C. (2192°F.) for 25 min. in purified nitrogen. The resultant A.S.T.M. austenite grain size was 0-1. Isothermal transformation was allowed by quenching the specimens into liquid metal baths controlled to ±5°C. at 540°C. (1004°°F.) and above, and to ±2°C. at 490°C. (914°°F.) and below. Following the desired degree of transformation all specimens were water quenched. Metallographic Examination Specimens 1/4 in. round by 1/4 in. were used for metallographic examination. Etchants used were Vilella's reagent (1 gram picric acid, 10 ml. hydrochloric acid to make l00 ml. ethyl alcohol solution) and alkaline sodium picrate (electrolytic). Vilella's reagent was effective in revealing all microconstituents, while the alkaline sodium picrate developed the carbon-rich structures or carbides only. X-ray Examination Two X-ray techniques were used-the Debye-Scherrer method and a back-reflection method. The small specimens necessary for the Debye-Scherrer method were austenitized and then allowed to transform, or were cut from the larger metallographic specimens. The metallographic specimens were used for the back-reflection X-ray analysis. When it was desirable to determine the structure of the carbide present, sliver specimens were electrolytically etched to develop a carbide coating, then were exposed in the cameras. This technique was frequently necessary to allow positive identification of the carbide.

Jan 1, 1945

By S. L. Karunakaran

There are cases where it is found that a raft foundation would have adequate factor of safety against ultimate bearing capacity failure but the settlements would be excessive. Piles may be introduced in order to limit settlements to an acceptable level. The actual number of piles required to reduce the settlements to an acceptable level may be very small compared to the number of piles required to transmit the whole structure load. The paper focuses on the difficulties encountered in evaluating the load sharing between raft and piles. An elaborate analysis taking into account the interaction between raft, piles and soil is very complex and time consuming. Few approximate methods for arriving at a satisfactory solution to piled raft system are discussed in the present paper.

Jan 1, 1996

By Peter A. Rona

Hydrothermal mineralization along slow-spreading oceanic ridges and rift -zones that comprise more than half the global length of the seafloor spreading center system is related to anomalous physical and chemical conditions acting within the geologic settings that characterize early and advanced stages of opening of an ocean basin. Mineralization in the early stage of opening is represented by the Atlantis II Deep of the Red Sea. There, hypersaline hydrothermal solutions discharging as density stratified brines into an axial basin, have formed the largest massive sulfide deposit (70 x 106 metric tons) known at a spreading center. Mineralization at the advanced stage of opening is represented by two types of sites: (1) oceanic crust on the wall of a rift valley; and (2) oceanic crust exposed on the wall of a transform fault zone. The first type of site is the TAG Hydrothermal Field, located on a wall of the rift valley of the Mid-Atlantic Ridge at the top of the basaltic layer of oceanic crust. Evidence is presented for multi-stage, high- and low-temperature hydrothermal activity that produces Cu, Fe, and Zn enrichments within the thin sediment column and stratiform interlayered deposits of manganese oxides, iron oxides, hydroxides and silicates, on the seafloor. The second type of site occurs along walls of transform fault zones of the equatorial Mid-Atlantic Ridge and Carlsberg Ridge, which exhibit stockwork-type Cu-Fe sulfide mineralization

Jan 1, 1985

By M. Brozek

The constant of flotation velocity is the value characterizing the kinetics of cyclic flotation. In the statistical theory of flotation its value is the function of probabilities of collision, adhesion and tearing off the grain from the air bubble. The grain ? air bubble collision plays a key role since there must be a prior collision before the grain ? air bubble adhesion happens. The probability of such an event to occur is proportional to the relation of the grain diameter to the bubble diameter. When the grain sizes are given, it is possible to control the value of collision probability by means of the size of air bubbles. Consequently, it is significant to find the effect of physical and physicochemical factors upon the diameter of air bubbles in the form of a mathematical dependence. In the pneumo-mechanical flotation machine the air bubbles are generated by the blades of the rotor. The dispergation rate is affected by, among others, the rotor rotational speed, the amount of air transported to the flotation chamber an time and the liquid surface tension, depending on the type and number of applied flotation reagents. In the proposed paper the authors will present the distribution of air bubble diameters on the grounds of the above factors, according to the laws of thermodynamics. The correctness of the de-rived dependences will be verified empirically.

Jan 1, 2014

Equilibrium calculational software programs can be effectively utilized to illustrate the importance of activity or concentration, solubility, temperature, solution pH, solution potential, and ligand complexation to students studying hydrometallurgy. The calculational program STABCAL will be demonstrated. illustrative examples for the creation of diagrams such as EH-pH, activity or concentration-pH and activity or concentration-EH will be presented to demonstrate the fundamentals of real hydrometallurgical systems. Speciation, titration and mixing will be used to simulate or predict operational processes. Applications will include treatment of Acid Mine Drainage (Berkeley Pitlake water and sediments), mass balance potential/pH diagrams, leaching and selective separation of metals from electroplating sludge, metal adsorption at femhydrite surfaces, and flowsheet development for treating mercury sulfide K106 sludge.

Jan 1, 2002

By Herbert Kilburn Scott

The information in this paper was collected by the author during a five years' residence in the State of Minas Geraes. Outside the State itself, very little is known of the gold-field. Such accounts as have been published are antiquated and contained in publications mostly out of print. The increased attention now attracted to the natural resources of Brazil, and the probability that American capital will be, in the near future, largely invested there, will make an up-to-date account specially useful at this time. I. Historical and General. Soon after the Jesuits founded what is to-day the city of S?o Paulo, gold was discovered in the streams of the neighborhood; and this incited the natives, known as paulistas, to look for it farther afield. After many expeditions into the interior, gold was found in quantity in placer-deposits in the vicinity of Ouro Preto, in 1699, by a prospecting party headed by Antonio Dias. The name of Ouro Preto (black gold) was given because of the superficial dark coating of the gold, and the inhabitants of the district were known as mineiros (miners). Later on, the placers of Cuiaba, in the State of Matto Grosso, were discovered in 1718, and those of the State of Goyaz in 1724. All this territory was at the time a private colony, but on account of its increasing importance it was taken over by the Crown, and in 1739 a royal governor was appointed, with his nominal capital in S?o Paulo, though for a number of years the real capital was Ouro Preto. In 1711 Ouro Preto was raised to the rank of a city, with the name of Villa Rica de Ouro Preto (" rich city of black gold"); and in 1720, by reason of administrative difficulties, Minas Geraes was constituted a separate colony from S?o Paulo, with Villa Rica as its capital. The site of this city

Jan 1, 1903

By A. G. H. Anderson, Eric R. Jette

During the period from 1910 to 1920, there was a lively interest in the subject of grain growth and many papers were published, followed by interesting discussions. Questions dealing with the fundamentals of grain growth—why and how it occurs—were treated in papers by Howe,' .Jeffries,² Sauveur,² Chappell,4 Beilby,5 Mathewson and Phillips,6 Mc Adam,7 Carpenter and Elam,8 Stead and Carpenter,9 Ruder,l0 as well as others. Since that decade, much indeed has been done regarding the practical control of grain size, and it is now possible to order material having a size sperified in the American Society for Testing Materials classification. Also, one hears the term "spliced boundaries" used in connection with certain tungsten lamp filamentsl1 wherein it is important to prevent "sagging" between consecutive turns of the helix.12 This practical use of a certain knowledge as to the things that influence or even control grain growth should not be taken as an indication that the subject has been thoroughly explored and that nothing more can be learned from fundamental studies. It is with this thought in mind that a report of some observations and experiments on abnormal grain growth is believed justified. Abnormal grain growth is met with in heat-treating high-carbon steels in the austenitic range,'? in the hardening treatments of high-speed steels,14'15 and in the low-temperature annealing of strained low-carbon steels as in sheet and wire material. Entirely aside from these instances of exaggerated grain growth, which some might consider as freakish, it is thought that abnormal growth is simply a case where the growth forces and the forces tending to prevent growth are almost, but not quite, evenly balanced. Information relative to grain-growth characteristics in general may be obtained from a study of abnormal growth conditions, which may be looked upon as vantage points. Reflection will show at once that if growth forces are great in comparison to inertia or resistance to growth, many crystals start to grow and, for that reason, none becomes very large, whereas if inertia is

Jan 1, 1938

By Eric R. Jette, A. G. H. Anderson

During the period from 1910 to 1920, there was a lively interest in the subject of grain growth and many papers were published, followed by interesting discussions. Questions dealing with the fundamentals of grain growth—why and how it occurs—were treated in papers by Howe,' .Jeffries,² Sauveur,² Chappell,4 Beilby,5 Mathewson and Phillips,6 Mc Adam,7 Carpenter and Elam,8 Stead and Carpenter,9 Ruder,l0 as well as others. Since that decade, much indeed has been done regarding the practical control of grain size, and it is now possible to order material having a size sperified in the American Society for Testing Materials classification. Also, one hears the term "spliced boundaries" used in connection with certain tungsten lamp filamentsl1 wherein it is important to prevent "sagging" between consecutive turns of the helix.12 This practical use of a certain knowledge as to the things that influence or even control grain growth should not be taken as an indication that the subject has been thoroughly explored and that nothing more can be learned from fundamental studies. It is with this thought in mind that a report of some observations and experiments on abnormal grain growth is believed justified. Abnormal grain growth is met with in heat-treating high-carbon steels in the austenitic range,'? in the hardening treatments of high-speed steels,14'15 and in the low-temperature annealing of strained low-carbon steels as in sheet and wire material. Entirely aside from these instances of exaggerated grain growth, which some might consider as freakish, it is thought that abnormal growth is simply a case where the growth forces and the forces tending to prevent growth are almost, but not quite, evenly balanced. Information relative to grain-growth characteristics in general may be obtained from a study of abnormal growth conditions, which may be looked upon as vantage points. Reflection will show at once that if growth forces are great in comparison to inertia or resistance to growth, many crystals start to grow and, for that reason, none becomes very large, whereas if inertia is

Jan 1, 1938

By A. Lubinski

In drilling operations, attention generally is given to hole angles rather than to changes of angle, in spite of the fact that the latter are responsible for drilling and production troubles. The paper presents means for specifying maximum permissible changes of hole angle to insure a trouble-free hole, using a minimum amount of surveys. It is expected that the paper will result in a decrease of drilling costs, not only by avoiding troubles, but also by removing the fear of such troubles. SUMMARY, CONCLUSIONS AND RECOMMENDATIONS Excessive dog-legs result in such troubles as fatigue failures of drill pipe, fatigue failures of drill-collar connections, worn tool joints and drill pipe, key seats, grooved casing, etc. Most of these detrimental effects greatly increase with the amount of tension to which drill pipe is subjected in the dog-leg. Therefore, the closer a dog-leg is to the total anticipated depth, the greater becomes its acceptable severity. Very large collar-to-hole clearances will cause fatigue of drill-collar connections and shorten their life, even in very mild dog-legs. Another finding regarding fatiguing of collar connections in dog-legs is that rotating with the bit off bottom sometimes may be worse than drilling with the full weight of drill collars on the bit, mainly in highly inclined holes when the inclination decreases with depth in the dog-leg. Means are given for specifying maximum dog-legs compatible with trouble-free holes. An inexpensive technique proposed is to take inclinometer or directional surveys far apart; then, if an excessive dog-leg is detected in some interval, intermediate close-spaced surveys are run in this interval. The application of the findings should result in a decrease of drilling costs, not only by avoiding troubles, but mainly by removing the fear of such troubles. The result would be much more frequent drilling with heavy weights on bit, regardless of hole deviation. Because of errors inherent to their use, presently available surveys are not very suitable for detecting dog-legs. There is a need for instruments especially adapted to dog-leg surveys. Crooked hole drilling rules should fall into two distinct categories—(1) those whose purpose is to bottom the hole as desired, and (2) those whose purpose is to insure a trouble-free hole. Three kinds of first-category rules in usage today are as follows. 1. A means to bottom the hole as desired is to prevent the bottom of the hole from being horizontally too far from the surface location; this may be achieved by keeping the hole inclination below some maximum permissible value such as, for instance, 5. 2. Another means to achieve the same goal is to limit the rate at which the inclination is allowed to increase with depth. A frequently used rate is 1/1,000 ft. In other words, a maximum deviation of l° is allowed at 1,000 ft, 2 at 2,000 ft, 3 at 3,000 ft, etc. 3. Whenever application of the first two means precludes carrying the full weight on bit required for most economical drilling, then the best course is to take advantage of the natural tendency of the hole to drift updip, displace the surface location accordingly and impose a target area within which the hole should be bottomed. This method has already been successfully applied,'.' and its usage probably will become more frequent in the future. Means for calculating the amount of necessary surface location displacement are avail-able.3'5'6 If in high-dip formations the full weight on bit should result in unreasonably great deviations, the situation could be remedied by increasing the size of collars and (if needed) the size of both hole and collars,351 or in some cases by using several stabilizers. Rules which would fall into the second category (i.e., rules whose purpose is to insure a trouble-free hole) are seldom specified today. It is vaguely believed that following Rules 1 and 2 of the first category will automatically prevent troubles. Actually, this is not true. If at some depth the only specified rule is that the hole inclination must be less than 4", the hole may be lost if the deviation suddenly drops from 4 to 2, or if the direction of the drift changes, etc. Rule 3 of the first category is generally used in conjunction with a rule belonging to the second category, namely, that the hole curvature' (dog-leg severity) must not exceed the arbitrarily chosen value of 1½ /100 ft. Moreover, when using this rule, the industry is not clear over what depth intervals the hole curvature should be measured. All this results in a frequent fear

By R. H. Jacoby, V. J. Berry

When dry gas is injected into a reservoir containing a volatile crude oil, a significant amount of the reservoir liquid phase may become vaporized. The resultant rich gas phase, when subsequently produced, con-tributes to tank oil production. This contribution assumes greater importance, the more volatile the oil in-olved. Oil recovery may be sub-stantially greater than that predicted by conventional frontal-drive methods, which do not consider the vaporization equilibrium between the reservoir oil phase and the injected gas. A calculation method has been (developed to account for vaporiza-. tion of the reservoir liquid phase during gas-injectiorz operations, and for the tank oil production which results from this factor. Recovery performance calculations are presented for a reservoir containing a highly volatile oil. Tank oil recovery is calculated to be about twice that predicted by the use of the conven-rional frontal-drive equations. In contrastto usual pressure maintenance performance results, in which the gas-oil ratio rises at an increasing rate after gas breakthrough, the pre-dicated gas-oil ratio rises rapidly to about 12,000 scf/bhl and then rises much less rapidly. During gas inje-tion, most of the reservoir liquid phase contacted is evaporated by the dry injection gar. The gas-oil ratio during this period is dependent upon reservoir pressure. The higher the operating pressure, the lower the gas-oil ratio. The predicted behavior i., in accordance with laboratory PVT tests made to .simulate the vaporization behavior. In addition to recovery performance predictions, results of the calculation procedure include complete wellstrearn composition data of value in the design of gasoline plant facilities often used in con-rrction with gas-injection operations. INTRODUCTION In the cycling of gas-condensate reservoirs, dry gas is injected to maintain reservoir pressure during wet gas production and to thereby eliminate or reduce ultimate loss of liquids due to retrograde condensation within the reservoir. Gas injected into crude oil reservoirs has a dual function. It displaces oil to the producing wells and at the same time serves to partially or fully maintain reservoir pressure. Oil shrinkage which would occur upon pressure reduction is thereby minimized or eliminated. Accepted calculation methods are available'= for predicting recovery performance of either gas-condensate reservoirs or crude oil reservoirs which are being subjected to gas injection. In gas-condensate reservoirs, any retrograde liquid formed does not flow, and it is necessary to account only for the vaporization equilibrium between this liquid and the injected gas. Conversely, in normal crude oil reservoirs, both the oil and gas phases flow, but it has not been considered necessary to account for any vaporization of the reservoir liquid which might occur upon contact with the dry injection gas. Recently, high shrinkage reservoir fluids known as "volatile oils" have been found in increasing amounts. These oils are characterized by tank oil gravities above 4.5" API, solution gas-oil ratios above 1,000 scf/bbl, and reservoir volume factors above two. Special techniques have been devised for predicting depletion performance of reservoirs containing such oils.74.5.1; One of the characteristics of reservoirs producing volatile oils is that the reservoir gas phase carries a significant amount of oil which is recoverable as stock-tank liquid. This unusual vaporization be-havior implies that an appreciable amount of reservoir liquid would be vaporized upon contact of the oil with dry injection gas. In a gas-injection operation, tank oil recovery would he obtained not only through frontal displacement of the reservoir liquid by the injected gas, but also through production of the rich gas phase. This means that not only are improved methods needed to predict recovery of such oils from reservoirs undergoing gas injection, but it would also be expected that high oil recoveries might be obtained by such operations. When relatively dry gas is injected in to a volatile oil reservoir, phase equilibrium between the injected gas and the reservoir oil will tend to bc established. Initially the most volatile components, such as propane, the butanes and the pentanes, will account for most of the material transferred from the oil phase to the gas phase. As the partially stripped oil phase is contacted with additional dry injection gas, the heavier intermediate components, such as the hexanes, the heptanes and the octanes, will gradually transfer to the gas phase in increasing amounts. This is because the supply of lighter components in the oil phase dwindles due to the stripping action of the injected gas. This stripping action will usually continue to be effective down

By T. G. Digges, C. L. Vold, M. R. Achter

A study was made of the effect of the growth conditions on the perfection of single crystals of niobium (columbium). Dislocation densities, determined by means of double-crystal diffractometer measurements , were not greatly affected by the method of crystal preparation but could be reduced by annealing treatments. However, the size, sharpness, and tilt angles of the substructures, observed with X-ray reflection macrograph, were sensitive to variations in growth procedures as well as to subsequent thermal treatments. Although the dislocation density was the same in both types, there were more low-angle bound-aries in crystals grown by zone melting than in those prepared by strain anneal. Mechanisms to account for these observations are discussed in terms of dislocation movements. A planned study of the structure-sensitive properties of refractory metals required the use of single crystals of a high degree of structural perfection and, for ease of handling, of large cross section. It appeared that the strain-anneal technique could satisfy both of these requirements. First, crystals grown in the solid state have been reported to be more perfect than those obtained from the melt.' Second, the diameters of rods which may be produced by zone melting should have a theoretical limit determined by specific gravity, thermal conductivity, and surface tension, while the diameter of strain-annealed rods is limited only by practical considerations. Previously it was shown that niobium (columbium) single crystals of 1 in. diam2 may be grown by strain anneal, compared to the 0.5 in. maximum diameter achieved by zone melting, as reported for molybdenum by Belk.3 The current research was undertaken to investigate and optimize the effect of various process variables on the perfection of 1/4 and 1/2-in.-diam niobium single crystals grown by strain annealing and to compare their perfection to those grown by zone melting. Characterization of these crystals was more conveniently accomplished by means of X-ray than by metallo-graphic techniques. EXPERIMENTAL PROCEDURE Specimen Preparation. Zone-melted crystals of 1/4 in. diam were produced by the standard electron-beam zone-melting technique. The swaged and cleaned rods were outgassed, in the solid state at a temperature near its melting point, at a rate of 12 in. per hr, and single crystals were grown by making two molten passes at 2 in. per hr. By maintaining a zone length of 4 to % in., very uniform single crystals several inches long were obtained. For the strain-annealed crystals, an induction heater was used, in preference to other types of heating, to take advantage of the good penetration of large sections. A five-turn coil, 1 in. long, operating at 10 kc and powered by a motor generator, was contained in a vacuum chamber. The rod, suspended from the upper end, was raised through the coil for both recrystallization and crystal growth. In preliminary work single crystals of the same material were also grown with single and multiturn coils powered by a 450-kc generator. A vacuum of 2 X 10-6 Torr was maintained at temperatures up to 2400°C. Starting with electron-beam-melted ingots of 21/2 in. diam, the analysis for which is given in Table I, the material was cold-swaged to the desired cross section of 1/4 and 1/2 in. diam and then recrystallized. The rods were then strained in a tensile machine and converted to single crystals by passing through the induction coil. As with zone melting, control of orientation is possible by the use of special procedures. Other investigators, see for example Williamson and smallman,4 have reported that orientation control may be achieved by a bending technique. In the present work the strained rod is partially lowered through the coil to start the growth of the crystal. Then it is removed and bent at a point in the poly crystalline portion. Finally, it is returned to the chamber and growth is continued "around the corner". This procedure has certain limitations. If the bending operation exceeds the critical strain, recrystallization may take place. Also, the amount of bending which can be imparted to the rod is limited by coil geometry, and up to now has been 10 deg. However, by repeating the bending and growing operations it should be possible to attain any desired orientation. In preparation for X-ray examination, single crystals were sectioned and planed by means of the spark-erosion technique. To obtain the maximum reflected intensity, the (110) plane was exposed for examination. They were then etched 3 to 5 min in a mixture of con-

Jan 1, 1967

By P. E. Rider, K. A. Gschneidner, O. D. McMasters

The solid solubilities for thirteen rare-earth metals in gold were determined by using the X-ray parametric method. Solubilities ranged from 0.1 at. pct for lanthanum in gold up to 8.8 at. pct for scandium in gold. The solubilities from lanthanum to gadolinium were very small and essentially constant, but a sharp increase occurred from gadolinium to scandium. The large solubilities for the heavy rare-earth metals were not expected because of the large size and electrochemical differences between rare-earth atoms and the gold atom. Contributions from first- and second-order elasticity theory plus an electronic contribution were found to reasonably account for a more favorable size factor. Electron transfer from the rare-earth metal to the gold Is thought to occur such that the resultant rare-earth and gold electronegativities are favorable for solid-solution formation. It was also found that this mutual adjustment of size and electronegutivity does not occur if the pure-metal size factors are greater than a critical value of 25 pet. The eutectic temperatures for ten systems were determined and these remained fairly constant at approximately 809 "C for the lighter lanthanide metal-gold systems until the Er-Au system was reached, at which Point the eutectic temperature successively increased reaching a maximum of 1040°C in the Sc-Au system. This rise was correlated to the size factor becoming more favorable for solid-solution formation at erbium. The valence state of ytterbium was found to change from two in the pure metal to three when ytterbium is dissolved in the gold matrix. RECENT results1 reported concerning the solubility of holmium in copper, silver, and gold, showed that the solubility of holmium in gold was quite large, 4.0 at. pct, compared with 1.6 in silver and 0.02 in copper. The small solubilities of holmium in silver and copper are quite reasonable in view of the large size difference (22.2 and 38.2 pct, respectively), large electronegativity difference (0.59 for both systems), and possible unfavorable valency factor (assuming one for silver and copper and three for holmium). The large solubility in gold, however, is unexpected because these same factors are also unfavorable for holmium and gold (22.5 pct size difference and 0.69 electronegativity difference), and because the light rare-earth metals, lanthanum, cerium, and praseodymium, have negligible solid solubilities in gold.2 In view of this unexpected behavior, it was felt that a study of the solid solubilities of most of the rare-earth metals in gold would be desirable to better understand the factors involved in the formation of solid solutions. Of the rare-earth metals added to gold in this study, only ytterbium is divalent in the pure metallic state (the other rare-earth metals are all trivalent) and many of its physical properties (such as the metallic radius, electronegativity, and so forth) are much different from those of the normal trivalent rare-earth metals.' The properties of ytterbium are such that one would expect solid-solution formation to be less favorable for ytterbium in gold than for any of the normal trivalent rare-earth metals. But chemically ytterbium is known to possess a stable trivalent state, and it is quite possible that ytterbium may alloy as a trivalent metal under certain conditions rather than as a divalent metal. Because of the dual valency nature and because so little is known about the alloying behavior of ytterbium, the gold-rich ytterbium-gold alloys are of special interest. EXPERIMENTAL PROCEDURE Materials. The gold used in this investigation had a purity of 99.99 pct with respect to nongaseous impurities. In general the rare-earth metals were prepared by reduction of the corresponding fluoride by calcium metal.3 The impurity contents of the metals used in this study are given in Table I. Preparation of Alloys. Two- or 3-g alloy samples were prepared by arc melting. The samples, with the exception of some of the Er-Au alloys, had weight losses of 0.5 pct or less. All alloy concentrations noted in this paper are nominal compositions. After arc melting, the alloys were wrapped in tantalum foil, sealed off in quartz tubing under a partial atmosphere of argon, homogenized for approximately 200 hr at 780°C, and then quenched in cold water. X-Ray Methods. The X-ray parametric method was used in determining the solubility of the rare-earth metals in gold. filings were sealed in small tantalum tubes by welding under a helium atmosphere. The tantalum tubes were then sealed in quartz tubing under a partial argon atmosphere, and annealed for times ranging from 1/2 to 3 hr (the length of time was inversely proportional to the an-

Jan 1, 1965

By J. D. Defilippi, E. M. Gilbert, K. G. Brickner

FCC chromium-manganese-nitrogen (Cr-Mn-N) steels differ from most other fcc materials in that these steels undergo a ductile-to-brittle transition. Transformation to martensite is considered to be responsible for this behavior in some metastable Cr-Mn-N steels. However, very stable Cr-Mn-N steels also exhibit a ductile-to-brittle transition. The results of this study indicate that deformation faulting is the probable cause of the brittle behavior of stable Cr-Mn-N steels. Deformation faulting accounts for the ductile behavior of these steels in a tension test at -320°F and brittle behavior in an impact test at -320°F. Deformation faulting also accounts for the toPological features observed on the fracture surfaces of impact specimens of these steels. FACE- centered- cubic chromium-manganese-nitrogen (Cr-Mn-N) steels differ from most other fcc materials in that these steels undergo a ductile-to-brittle transition. Many Cr-Mn-N steels transform to martensite during deformation,l-5 and several investigatorsl-3 have suggested that the brittle behavior of these steels is caused by martensite formation. However, very stable Cr-Mn-N steels also exhibit brittle behavior. Schaller and Zackeyl reported that a very stable Cr-Mn-N steel (less than 3 pct martensite formed at -320°F) exhibited a transition temperature higher than that for steels in which large volume fractions of martensite formed during testing. The explanation given by Schaller and Zackey for this observation was that in the very stable steel the martensite, because of its higher interstitial content, was more brittle than that formed in their other steels. This explanation was questioned by Tisinai and samans4 and Baldwin.6 Moreover, because the toughness of stainless martensite at cryogenic temperatures is generally very low, this explanation does not account for Thompson's7 observation that small additions of nickel (1 to 3 pct) greatly improve the toughness of high nitrogen (0.35 pct) Cr-Mn-N steels. The present paper summarizes the results of an investigation of the low-temperature brittleness in very stable Cr-Mn-N steels. The importance of the mode of deformation on the toughness of these steels is discussed. Table I. Compositions of the Steels Invertigated, Pet Steel C Mn P S Si Ni Cr N - A 0.09 14.70 0.018 0.011 0.47 0.22 18.40 0.54 B 0.12 14.90 0.001 0.008 0.48 0.14 17.80 0.38 C 0.12 14.95 0.004 0.005 0.62 3.95 18.43 0.38 MATERIALS AND EXPERIMENTAL WORK The compositions of the steels investigated are shown in Table I. Steels A and B had compositions within the limits of a proprietary Cr-Mn-N stainless steel,* whereas Steel C was similar in composition to the proprietary steel except for its 3.95 pct Ni content. All steels were hot-rolled to 1/2-in. thick plate. The plates were subsequently annealed for 1 hr at 2000°F and water-quenched. Standard longitudinal and transverse Charpy V-notch impact specimens were machined from the annealed plates. Duplicate longitudinal and transverse impact specimens were tested at 212", 80°, 32", 0°, -100°,-160°,-200°,-256", and -320°F. Longitudinal tension-test specimens were also machined from the plates and tested at a crosshead speed of 0.05 in. per min at the aforementioned temperatures. The fractured impact and tension-test specimens of all three steels were examined to determine whether martensite had formed during testing. Magnetic, X-ray, electron-diffraction, and electron-microscopy techniques were used to detect the presence of martensite in the highly deformed areas of these specimens. Metallographic examination of highly deformed areas of impact and tension-test specimens revealed the presence of dark-etching bands, such as those shown in Fig. 1. These bands were observed only in deformed samples and were thought to be associated with the low-temperature brittleness of the Cr-Mn-N steels. Accordingly, a sample 1 in. wide by 3 in. long was cut from the 1/2-in.-thick plate of Steel C. This sample was surface-ground to a in. and then cold-rolled 60 pct at -320°F. Thin foils were prepared from the cold-rolled sample and examined in a JEM electron microscope. Brightfield, dark-field, and selected-area diffraction techniques were used to determine the cause of the dark-etching bands. Fractographic experiments were also performed. Impact specimens Of Steels A, B, and C were broken at -320oF, and the fracture surfaces of these specimens were immediately shadowed with carbon. The carbon replicas were examined in a Siemens electron microscope, and attempts were made to correlate the topological features of the fracture surfaces with the deformation mechanisms that could be occurring during an impact test of these steels.

Jan 1, 1970

By L. J. M. Smits

A theoretical equation is developed describing membrane potentials of shaly sands as a function of the cation-exchange capacity per unit pore volume of the rock and saturating water salinity. This equation is based on the same simple physical model as that employed earlier7 describing the electrical conductivity of shaly sands. Experiments conducted with NaCl solutions showed that the equation is obeyed, except in the case of saturated salt solutions where minor deviations were observed. A possible explanation is given for this discrepancy. As the clay content and the porosity of shales may vary appreciably, shale membrane potentials also vary. It was found that membrane potentials of shales can be calculated accurately with the aid of the same theory. Consequently, changes in membrane potentials can be accounted for by simple measurement of cation-exchange capacities per unit pore volume of both shales and shaly sands. Charts are given to facilitate interpretation of the electrochemical part of the SP in terms of cation-exchange capacities and the salinities of mud filtrate and formation water. INTRODUCTION A spontaneous potential (SP) log is a record of the way in which the electrical potential of a sonde varies as it passes down a borehole. Such variations frequently reflect rock texture, e.g., permeable beds intercalated in an impermeable series often are indicated by a sharp change in potential. Nowadays it is recognized that SP logs may be interpreted in terms of formation-water salinity and formation shaliness. The four sources of the SP are illustrated in Fig. 1. El and E4 represent streaming potentials generated by the flow of mud filtrate through mud cake opposite permeable formations and through shale, respectively. An extensive review of the literature on the evaluation of these streaming potentials is given by Lynchl and will not be discussed here. The remaining part of the SP generally is called the electrochemical potential, which is divided into two parts: a membrane potential across the shale (E3, Fig. 1) and a membrane potential in the permeable sand at the diffusion boundary between formation water and mud filtrate (E2, Fig. 1). It was found by wyllie2 that the membrane potential across the shale, E3, is the most important contribution to the electrochemical potential, the shale acting as a semi permeable membrane. When the sand is clean it does not influence the diffusion process, so E2 equals the value of the so-called liquid-liquid junction potential observed when the two solutions diffuse freely into each other. When the sand contains clay, however, this interferes with the diffusion process and affects the diffusion potential generated. The greater the proportion of clay, the stronger this effect will be. Wyllie,3 Doll4 and Poupon et al.5 took this effect into account theoretically, starting from a physical

Jan 1, 1969

By E. S. Grumell

The correct sampling of coal and coke is becoming important to an ever increasing number of producers and consumers. This, therefore, may be an opportune moment to examine where we stand with regard to existing and proposed methods. In this paper an attempt will be made to review, as briefly as possible, some of the considerable amount of painstaking research which has been done in the last 10 years, and which has unquestionably led to a much better understanding of the subject. In so doing we shall try, on the one hand, to make clear where substantial progress has been made, and on the other hand, to draw attention to points that require further investigation. The paper is divided into sections in order to emphasize the major divisions of the subject; further, in order to retain this emphasis, detailed consideration of some of the points has been relegated to appendixes. No attempt has been made to give a complete survey of the literature, as this has already been done by L. A. Bushell.2 The following abbreviations will be used: A.E., average error; P.E., probable error; S.W.R., size-weight ratio; B.S.I., British Standards Institution. Section 1.—Cost It has often been stated that the cost of sampling should bear some relationship to the value of the product, and since coal is a relatively cheap raw material it would be a major error to specify, for ordinary commercial purposes, elaborate and costly methods of sampling which nobody would adopt. Specifications must be of such a nature that they will be used. We believe that one of the achievements of the last 10 years has been to reduce the cost of sampling. There is, however, another point to be considered; via., that the cost of sampling should bear some relationship to the value of the investigation. Correct sampling is a cog (possibly a small one) in the wheel

Jan 1, 1940

By E. S. Grumell

The correct sampling of coal and coke is becoming important to an ever increasing number of producers and consumers. This, therefore, may be an opportune moment to examine where we stand with regard to existing and proposed methods. In this paper an attempt will be made to review, as briefly as possible, some of the considerable amount of painstaking research which has been done in the last 10 years, and which has unquestionably led to a much better understanding of the subject. In so doing we shall try, on the one hand, to make clear where substantial progress has been made, and on the other hand, to draw attention to points that require further investigation. The paper is divided into sections in order to emphasize the major divisions of the subject; further, in order to retain this emphasis, detailed consideration of some of the points has been relegated to appendixes. No attempt has been made to give a complete survey of the literature, as this has already been done by L. A. Bushell.2 The following abbreviations will be used: A.E., average error; P.E., probable error; S.W.R., size-weight ratio; B.S.I., British Standards Institution. Section 1.—Cost It has often been stated that the cost of sampling should bear some relationship to the value of the product, and since coal is a relatively cheap raw material it would be a major error to specify, for ordinary commercial purposes, elaborate and costly methods of sampling which nobody would adopt. Specifications must be of such a nature that they will be used. We believe that one of the achievements of the last 10 years has been to reduce the cost of sampling. There is, however, another point to be considered; via., that the cost of sampling should bear some relationship to the value of the investigation. Correct sampling is a cog (possibly a small one) in the wheel

Jan 1, 1940

By Ramana G. Reddy, Yuxiang Peng

The long-term corrosion behavior of Haynes 230 (H230) alloy in MgCl2–KCl eutectic salt was evaluated at 1273 K for 500 h in Ni crucible in argon gas. The results showed H230 alloy has good corrosion resistance. In addition, corrosion was noted to occur by depletion of Cr, which was deposited on the Ni crucible. Based on the calculation of Gibbs energy of Ni-Cr alloy and exchange current density of Cr in MgCl2–KCl, the Tafel model was constructed to investigate the corrosion potential and rate. The galvanic corrosion can be explained as the predicted results were in agreement with the experimental data.

Mar 1, 2017

The comminution circuit at Tarkwa Gold Mine was commissioned as a Single Stage SAG mill operated in closed circuit with hydrocyclones designed to process 4Mtpa. The circuit was later expanded by adding a secondary ball mill in closed circuit with hydrocyclones with a view to treat 12Mtpa. The change in the circuit configuration and assigning the low aspect ratio SAG mill for primary grinding application makes the Tarkwa experience unique in terms the optimisation strategy and operating philosophy. This paper reports the findings from a series of surveys performed on this plant. The surveys reported include data obtained when the SAG mill was operated as a single stage mill in closed circuit with hydrocyclones and also SABC mode under two different feed conditions. The differences in operating philosophy between the initial single stage SAG circuit and the current SAG/Ball mill circuit are discussed.

Jan 1, 2012