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By Joseph E. Pogue

The writer visited the Muzo emerald mines in July, 1915, and spent six days in their study. This paper embodies the results of his observations, plus information personally communicated by Robert Scheibe, Professor of Geology in the Mining Academy of Berlin, who at the time of the visit was completing a detailed field investigation of nearly a year's duration of the emerald deposits of Colombia. An elaborate account of this valuable work may be expected at a future date from the pen of Professor Scheibe.

Jan 1, 1917

By D. I. Bardos, A. M. Bardos, Paul A. Beck

The approximate effective silicon radii in ternary Laves phase alloys with transition elements and silicon were found to range between 1.16 and 1.21A, i.e., considerably smaller than the atomic radius calculated for elemental silicon. The atomic radii were found to increase with the size of the transition element atoms in the structure. It has been noted by Aronsson1 that silicon in solid solution in iron, cobalt, and nickel has an effective CN 12 atomic radius of approximately 1.20Å, a value very much smaller than the CN 12 radius of 1.34Å derived from the interatomic distances in elemental silicon.7 The unusually short metal-silicon interatomic distances in transition element monosilicides and disilicides have been also pointed out by various investigators.1 A similar tendency was observed by Nevitt in Cr3O type silicides.2 Recent work on Laves phases in ternary systems of silicon with transition elements4"8 suggested that extensive Laves phase fields may occur in such systems.8 It has been pointed out by Laves7 that the MgCu2 and MgZn2 type structures lend themselves particularly well for the determination of the effective radii of the component atoms. In these AB2 phases the B atoms are arranged in close packed straight lines, and their distances are related in a simple manner to the lattice parameters.8 The present work was undertaken in order to find out whether or not the B transition element in such AB2 Laves phases can be replaced to an appreciable extent by silicon. In cases where extensive substitution proves to be possible, the "average atomic radius for the B site" at various silicon contents was to be determined, and the effective atomic radius of silicon calculated by extrapolation to complete replacement of the B component by silicon. The following ternary systems were studied: Ti-Mn-Si, Ti-Fe-Si, V-Co-Si, V-Ni-Si, Nb-Fe-Si, Nb-Co-Si, Ta-Fe-Si, Ta-Co-Si, and Mo-Fe-Si. In all of these alloy systems, the Laves phase solid solutions were found to extend over a considerable range of silicon content. As previously reported,4"8 in the V-Co-Si, V-Ni-Si, and Mo-Fe-Si ternary systems Laves phases do occur, even though there are no corresponding binary Laves phases. In stabilizing the Laves phase, silicon acts as if it were decreasing the effective electron concentration of the alloy.8 A more detailed study of the boundaries of the Laves phases in the V-Co-Si and V-Ni-Si systems has been made and will be published elsewhere. In both cases, the elongated Laves phase fields extend parallel to the B-Si side of the composition triangle, clearly showing that silicon is substituting for cobalt, respectively, nickel over a wide range of compositions. The binary Laves phases NbCo2 and TaCo2 have the cubic MgCu2-type structure. It was found that, in both ternary systems with silicon, again the MgZn2-type hexagonal Laves phase is stabilized and that this phase extends to high-silicon contents. In each ternary system at least three Laves phase alloys of the composition A(B1_xSix)2 were used, x here denoting the fractional substitution of the B-transition element atoms by silicon. The alloys, listed in Table I, were prepared by arc melting in argon. Each specimen was water quenched after a homogenizing anneal of 3 days at 110(FC, except for the Mo-Fe-Si alloys, which were annealed at 1200°C. Metallographic examination showed that most of the homogenized alloys consisted of a single phase, although some had minor amounts of a second phase, as shown in Table I. X-ray diffraction patterns were prepared using an asymmetrical focusing camera of large resolution and Fe Ka radiation. The patterns were indexed, and the lattice parameters of the hexagonal Laves phases were determined from the available diffraction lines of highest indices: (213), (205), and (313). The lat-

Jan 1, 1963

By Henry G. Morris

The use of compressed air for the transmission of power has reached so great a development that we find numerous large establishments devoted to the manufacture of machinery for its production and application, and special periodicals published for the dissemination of information on the subject. Moreover, its employment is so general in mining operations that no apology is needed for the presentation to the Institute of such a paper as the present. The admirable articles of Mr. E. A. Rix, published in Conzpressed Air, show a wide range in the mechanical efficiency of air-compressors, varying, under different conditions, from 15 to 60 per cent.; and it is evident that any

Jan 1, 1902

The economics of aerial survey and the technical processes by the aid of which vertical and oblique aerial photographs are turned into line maps showing the most profuse topographical detail such as contours, rivers, roads, plantations, habitations and cultivated lands do not concern us here. They have been ably and exhaustively described in the publications of the British War Office, handbooks on surveying methods and on photogrammetry and in the South African mining, engineering and geological press. Suffice it to mention that for geological interpretation vertical photographs are used on such scales as 1/5000 to 1/10,000, overlapping each other by 55 to 60 per cent in the direction of flight and some 10 to 20 per cent sideways on to the next sequence or strip. Through this duplication in the overlap the stereoscopic examination becomes possible. The standards by which monochrome aerial photographs are interpreted can be grouped under the following headings: 1. Continuity.—The continuity of topographic relief not obtainable on the ground owing to the smallness of man relative to that relief. Here lies the greatest value of aerial survey with relation to geology. An immediate alignment can often be made of drainages running in different directions on each side of a hill; saddles and gorges in the mountainsides; abrupt termination of outcrop or indubitable signs of faulting. Most conclusive evidence is thus often obtained about faults which may be perfectly visible at one place on the ground but cannot elsewhere be identified because of decreased throw. Similarly, dikes can often be followed notwithstanding frequent interruption and disappearance under the soil. Scattered outcrop in scrub-covered or bush-covered country can be conveniently located and often correlated, with a large saving of time compared with field work. The same applies to geological contacts. Once these have been established at a few points on the ground, the intervening stretches can be drawn in.

Jan 1, 1937

By W. R. Ingalls

THE paramount subject of interest and concern at the present time is the readjustment in economic conditions following the cataclysmic disturbance produced by the war and the misconceptions leading to an orgy of extravagance that prevailed during two years following the armistice he, time is too short for me to undertake to review the nature and extent of the upheavals occurring between August, 1914, and October, 1920. Bulky volumes will be written about them. . But I shall have to refer to some of the results in order to outline a prognosis. It is the future, not the past;' that is of most interest to us. Let me be so bold as to say, without further preface, that I am not optimistic as to the near future. .We shall, indeed, have revivals in trade, but they will be delusive if their nature be not 'understood. We shall build hopes and expectations upon political maneuvers and events, only to find in the end that they were folly. In the meanwhile fundamental economic influences will continue to exert their steady and irresistible pressure. The new administratiow at Washington has no magic wand with which to kindle the fires in our idle steel furnaces, or create a million new houses for the people; nor can the premiers of Europe put into motion the spindles of the cotton and woolen mills, or by any incantations compel the people of the Orient to buy goods. The people of the Orient, and of, Europe, and of the two Americas are in the grip of the same economic forces. The readjustment has proceeded further in some parts of the world than in others. In the United States I do not think we, have gone more than over the threshold. I shall tell you why 1 think thus, but in telling you I shall be limited, in view of the immensity of the subject, to a series of bald statements, without much elucidation.

Jan 1, 1921

Secretary of the Interior, Franklin K. Lane, has appointed a commission of five mining and metallurgical experts from the Bureau of Mines and the Geological Survey to visit Europe to observe and study reconstruction methods in the devastated regions of France and Belgium. The chairman of the commission is Dr. Frederick G. Cottrell, chief metallurgist of the Bureau of Mines. The other members are: George S. Rice, the chief mining engineer of the same bureau; Frank H. Probert, consulting engineer of the bureau, and. professor of mining in the University of California; F. J. Cameron, consulting chemist of the bureau and expert on potash matters; and Hoyt S. Gale, of the Geological Survey, another expert on potash.

Jan 4, 1919

By Thomas T., Read

THE decades immediately before and after the end of the nineteenth century (1890-1910) were a period of increased activity in mineral industry education. One reason for ,this, undoubtedly, was the rapid increase in mineral production in the decade 1880-1890; pig iron and copper production tripled; coal, lead, and zinc output more than doubled. Most of the other mineral substances followed the same general trend. Aluminum production began in 1886; petroleum output, which in 1888 was less than it was in 1882, almost doubled in the next three years. Gold alone showed no appreciable change until its discovery at Cripple Creek in 1891, followed by the Klondike in 1896, brought to boiling a public interest in minerals that had been simmering for some years previously. The first cyanide plant in the United States was erected at Bodie in 1893, and the first chlorination plant at Cripple Creek* the next year. Silver- lead smelting had already greatly developed, and the metallurgy of copper was almost transformed. The hearth area and smelting capacity of copper reverberatory furnaces more than quadrupled between 1878 and 1894; matte converters were first erected at Butte in 1884. Copper production of the United States in 1899 was 30 times that of 1872. While it was the increased technology used in mineral production that really made the field attractive for educated young men, undoubtedly they did not realize that, and were impressed mainly by the quantitative increase in output. Another factor was the increased general interest in engineering education; three times as many men took engineering degrees in the United States in 1890 as in 1880; 1893 showed almost a 56 per cent increase over 1890. Industry had come to recognize that technical training was worth while. The mineral industry lagged somewhat at first; the total number of mining degrees

Jan 1, 1941

By Kenneth S. Ritchie

TOO often, many foremen; superintendents, managers, and executives, "The Bosses" of the oil and mining industries, do not fully realize: (1) How much personal actions '.on the job" may reduce their effectiveness in getting work done; and, (2) The importance of harmonious relations with their fellow men. Today. these qualities of personality in the people entrusted with the positions of responsibility are more important than ever with the shortages of labor so critical in vital war production. Likewise, many engineers do not fully realize that their work is essentially executive in character; i.e., other people do the actual labor. Without their help. the engineer's work would not be done. A clearer appreciation of this fact would increase their interest: (1) in the nontechnical aspects of their work. and, (2)in their relations with others, particularly the individuals in their own organization. Consequently, these engineers would be more successful in equipping themselves for greater responsibilities and increased remuneration.

Jan 1, 1944

THE Boston meeting, August 29-31, was in many ways one of the pleasantest the Institute has enjoyed in years. Much hard work had been done by the committee, and with excellent results. The program had been purposely restricted with the idea that a smaller, more homogeneous audience formed the best basis for a regional meeting, and the event fully justified the plan. The one hundred and sixty-three members and guests attending were dominantly interested in geophysical methods or their application, and, despite the highly technical character of the papers and the unusual heat, attendance and interest in the technical sessions were well sustained. The exhibition of geophysical instruments and aerial maps added greatly to the meeting.

Jan 1, 1928

By E. D. Gardner

The Synthetic Liquid Fuels Act (58 Stat., 190; 30 U.S.C. Sup., Secs. 321- 325) was approved by Congress April 5, 1944; it directed the Bureau of Mines to build demonstration plants to produce synthetic liquid fuels from coal, oil shale, and agricultural products. The most important oil-shale de- posits in the United States are in the Green River formation of Colorado, Utah, and Wyoming. The oil shale of western Colorado generally is more amenable to exploitation, more persistent, and apparently richer than elsewhere in the Rocky Mountain Region. It occurs at the top of a high plateau surrounded by bold, nearly vertical escarpments 500 to 600 ft in height. The top 400 to 500 ft of these escarpments comprises an oil-shale measure that averages 15 gal of shale oil per ton; the bottom 70 to 100 ft of the measure, called the Mahogany Ledge, averages over 30 gal per ton. The full measure in a 1000-square-mile area is estimated to contain 300 billion barrels of shale oil;' the Mahogany Ledge is estimated to contain 100 billion barrels of oil. These estimates are based on numerous surface samples and on core-drill holes drilled by the Government and by private enterprise. The oil-shale beds are undisturbed and lie nearly horizontal. The name

Jan 1, 1949

By Anthony William Deller

MAJOR battles in the present war have been fought in American research laboratories. Without the outstanding contributions made by our scientists, engineers, and technologists in mining and metallurgy, many of our achievements in the present war would have been impossible. All recognize the fact that modern research has found the answer to problems which seemed insuperable. For the duration, many of these inventions must be maintained as war secrets. But aside from these, the record of accomplishment in peace and war, especially in the past few decades, known to all, demonstrates what scientific and industrial research can accomplish. It may be regarded as axiomatic that the development of modern industry is based principally upon research devoted to making inventions and discoveries. We have come a long way from the sixteenth century, when Agricola published his classical "De Re Metallica:" With our vastly increased knowledge we are now commercially producing dozens of metals entirely unknown at that time. Further, with our modern methods of research and development, a large number of invaluable alloy compositions have been produced. These include numerous age-hardenable alloys, cupronickels, "Everbrite", "Everdur", "Duralumin", "Elinvar", "Hastelloy", "Inconel", "Invar", "Monel", "Ni-chrome", "Ni-Hard", "Ni-Resist", "Permaloy", "Silcrome", stainless steels and irons and other alloy steels, "Stellite", and zinc die-casting alloys.

Jan 1, 1945

By A. M. E. Eilers

No one who has visited our Western mining districts, and studied the economical part of the beneficiation of the ores occurring all over that vast extent of country, can underrate the high importance of the above subject. By far the larger number of the districts which contain smelting ores, i.e., argentiferous and auriferous lead, or copper ores, are situated in the Great Basin, that great plateau between the Rocky Mountains on the east, and the Sierra Nevada on the west, almost the whole of which is comprised at present in the boundaries of Nevada, Utah, and part of Arizona. This region is essentially a barren country. The extreme dryness of the atmosphere permits but a scanty vegetation in the plains ; and even in the detached mountain-chains running through it-generally from N. to S., or from N. W. to S. E.-there are no trees found except dwarfed pines and mahogany, at the head of sheltered ravines, and a few cottonwoods and willows, which fringe the insignificant streams, before the water sinks in the arid plains. Nearly all the mountain-chains in this region are rich in silver ores. That class of these ores which is adapted to amalgamation, and rich in silver, has been worked with profit for more than ten years. But before the advent of the transcontinental railways, mining was restricted to these ores alone, and the consumption of fuel could be met with the scanty supply of forest trees in the immediate vicinity of the mining districts. Since, however, the Union and Central Pacific Railroads have brought the Great Basin nearer to the commercial centres of the East and the Pacific coast, thus reducing the expenses of freight and labor materially, other silver deposits, containing poorer ores in greater abundance, have been rapidly taken

Jan 1, 1873

By Edward I. Salkovitz

THE determination of the orientation of metal single crystals and the studies of plastic deformation are greatly facilitated by the use of the stereographic projection. To draw a standard projection of the crystal it is necessary to have a tabulation of the angles between the various crystal-lographic planes of the particular crystal studied. Bozorth' has published such a table for the cubic system which can be found in many reference books; such convenient tabulation for the hexagonal metals, however, does not appear to be in the literature, although scores of workers have calculated these angles. Therefore, Table I of angles for magnesium, zinc, and cadmium has been compiled. Since the c/a ratio is different for each of these metals, three separate calculations are necessary. The angles 4 between (HKIL) and (hkil) were calculated by means of the formula: Hh+Kk+½(Hk + hK)1+~3aLl cos The c/a ratios were calculated from data given in the 1948 edition of Metals Handbook. Fig. 1 is a typical (0001) standard projection of zinc. For all practical purposes, it serves for cadmium as well, as can be seen from the table. For magnesium, however, it is necessary to construct another net. R. M. Bozorth: Physical Review. (1925) 26, 390.

Jan 1, 1952

By H. H. Johnson, Eric W. Johnson

A newly developed ac technique was used to measure the electrical-resistivity changes associated with both cyclic stressing and subsequent annealing of high-purity and OFHC copper. The early stage of push-pull fatigue was explored at 293° and 4.2°K, with stresses chosen for an expected fatigue life of 2 to 8 X 105 cycles. For high-purity copper, fatigue at 293°K was accompanied by an initial increase in resistivity. After about 5000 stress cycles, no further increase was observed. Annealing studies showed that the resisticity increment could be accounted for solely in terms of an increased dislocation density, to about 2 x 1010 disl pev sq cm. Fov 42°K fatigue, however, the resistivity increased continually, with no evidence of saturation, as approximately (No. of stress cycles)1/4. This is intevpreted to result from both dislocation multiplication and vacancy production; estimated vacancy concentrations are 10-4 to 10-9. The continuous resistivity increase was inhibited by interspersed annealing treatments at 293°K, which also raised the level of the stress-strain curve. These effects are attributed to annealing of vacancies into dislocation loops. In contrast, OFHC copper fatigued at 4.2°K showed saturation of electrical vesistivity after only a few hundred cycles, and it appeared that vacancies annealed out completely between 77° and 293°K. MaNY observations suggest that both dislocation multiplication and point-defect production are important aspects of fatigue deformation. An increase in dislocation density with number of stress cycles has been demonstrated or implied by several experimental techniques, including optical metallography with lithium fluoride,' electron microscopy with copper,2 thermal conductivity of Cu-Zn alloys,3 and peak-stress measurements during cycling at constant plastic strain amplitude.4,5 At low amplitudes and/or stresses saturation of fatigue hardening and dislocation density occurs early in the expected fatigue life,4-6 frequently by a few hundred cycles. The evidence for point-defect production is somewhat less extensive, but it is nonetheless persuasive. Rosenberg7 reported briefly that, for equal stresses, copper fatigued at liquid-hydrogen temperature displays an increase in electrical resistance some ten times that which accompanies unidirectional stressing. Further, the extra resistance saturates after a few hundred stress cycles, and does not anneal significantly until a temperature of about 170°K is attained.' Point-defect production during fatigue is also suggested by 1) the softening during cyclic stressing of initially strain-hardened polycrystal-line copper9, 2) the strong temperature dependence of the yield strength of fatigue-hardened mono- and polycrystalline copper,579"0 and 3) the influence of intermediate annealing upon slip-band formation in copper fatigued at 90°K.8 It is evident that characterization of the fatigued state requires a knowledge of both point-defect and dislocation densities. For this purpose electrical-resistivity measurements are useful, but they are difficult to perform because of geometric limitations. Push-pull fatigue is necessary to obtain a macroscopic ally uniform deformation over the specimen cross section; however, the specimen must then have a low slenderness ratio to avoid plastic buckling, while the standard dc resistivity technique requires a very slender specimen for

Jan 1, 1965

By Rossiter W. Raymond

It is scarcely necessary to augment or amend the "Appreciation" of Dr. Douglas, from the pen of Dr. Albert A. Ledoux, which appeared in January, 1916, in Bulletin No. 109 of the Institute. The author of that admirable summary enjoyed the great privilege of expressing while Dr. Douglas was yet among us (though already marked for death) the love and esteem with which we all regarded him. But now that his earthly life has ended, the historian must still be the eulogist. No line need be added or deleted in the portrait of him already drawn; it has only to be accepted now as a true likeness, and hung in the gallery of the immortals, illuminated by the crowning glory of another world. James Douglas was born at Quebec, Canada, November 4, 1837. His father, James Douglas, was a distinguished physician and surgeon, known in many lands, especially in the Orient, and famous in his own country for his philanthropy as well as his skill, having established and directed for many years the first retreat for the insane in the Dominion. of Canada. One of the latest literary labors of the son was the editing and publishing of his father's journal and reminiscences—a fascinating volume, the review of which, though a tempting task, I must here forego. Nearly fifty years ago, I had the great pleasure of spending an hour with the elder Douglas, who guided me through his collection of Egyptian and Asiatic treasures. I might almost say souvenirs; so many of them were connected with personal experiences and exalted personages. The veteran's memory had already begun to fail with age, but his vivacity and imagination glowed all the more brightly; and his reminiscences of travel and adventure were embroidered with Oriental magnificence. I felt, after that hour, as if I had visited a stately, half-ruined edifice, overgrown with vines and flowers. The father's genius, adventurous spirit and generous philanthropy descended to his versatile, yet practical son. Like other men of such temperament, James Douglas tried many things before circumstances beyond his own control forced him into the line of his principal lifework. At the age of 18, he was sent to the University of Edinburgh, where he studied for two years. Returning to Canada, he entered Queen's University, at Kingston, Ontario, where he was graduated as Bachelor of Arts in 1858. Subsequently he studied medicine at Lava1 University, Quebec;

Jan 1, 1919

By V. H. Wilhelm

WITH rapidly diminishing oil reserves: a great percentage of which are uneconomical at present prices, some of the existing methods of development and production will have to undergo radical re- visions to meet the changes continually taking place in the petroleum industry. Imagination in an engineer is a great asset. The fancy of today is found to be the realization of tomorrow, and with this thought in mind, there is here presented a more or less imaginative picture which, to my mind, has a meritorious basis. Directed drilling has reached a stage of accuracy sufficient to allow the prediction that this art will be used in the future development of oil structures, especially those \\,it11 thin sand bodies 'and steep dips. Directional drilling in a number of fields in California has gratifying results. Wells which practically laid pipe lines through the oil sands have enjoyed a greater drainage radius with a consequent greater initial and cumulative production. In one field where the vertical thickness of sands was approximately 550 ft., wells drifting at an angle as great as 55 deg. fro111 vertical had over 1100 ft. of perforated pipe in contact with these sands. These wells were, and are, remarkable for their great initial pro-

Jan 1, 1936

By D. S. Jacobus

COMPRESSED-air motors are specially desirable, if economically practicable, for underground haulage, because they require no fuel, involve no danger of fire, and not only avoid heating and fouling the atmosphere with smoke and combastion-gases, but by the emission of expanding fresh air, cool and improve it and aid ventilation. The highest developments in the use of compressed-air motors for locomotion are to be found, in the opinion of the writer, in the principles of the Mekarski car-motor as applied to street tramways, and it is thought that notes taken regarding this system, during a recent trip to Europe, where two plants are in successful operation, at Nantes and Vincennes respectively, will be interesting to mining engineers. The plant at Nantes operates a street-line 5.2 miles long, requiring about twenty motors; the one at Vincennes about 7 miles of road. Each car at Nantes carries its own motor. At Vincennes, however, the motor-car is arranged to tow a second car containing no motor. The road at Nantes is the older, having been in successful operation for ten years, during which time neither the American consul, Mr. Shackelford, who has resided at Nantes for about five years, nor the vice-consul, Mr. Bennett, who has been at Nantes ever since the road started, has ever seen anything go wrong with the motors. DESCRIPTION OF THE RAILROA at Nantes. Motor-Car.—Two small engines are connected' so as to rotate the front axle of the car, a reversing lever being used to alter the cut-

Jan 1, 1891

By Rossiter Raymond

IT is scarcely necessary to augment or amend the "Appreciation" of Dr. Douglas, from the pen of Dr. Albert A. Ledoux, which appeared in January, 1916, in Bulletin -No. -109 of the Institute. The author of that admirable summary enjoyed the great privilege of expressing while Dr. Douglas was yet among us (though already marked for death) the love and esteem with which we all regarded him. But now that his earthly life has ended, the historian must still be the eulogist. No line need be added or deleted in the portrait of him already drawn; it has only to be accepted now as a true likeness, and hung in the gallery of the immortals, illuminated' by the crowning glory of another world. . James Douglas was born at Quebec, Canada, November 4, 18:37. His father, James Douglas, was a distinguished physician and surgeon, known in many lands, especially in the Orient, and famous in his own country for his philanthropy as well as his skill, having established and directed for many years the first retreat for the insane in the Dominion of Canada. One of the latest literary labors of the son was the editing and publishing of his father's journal and reminiscences-a fascinating volume, the review of which, though a tempting task, I must here forego. Nearly fifty years ago, I had the great pleasure of spending an hour with the elder. Douglas, who guided me through his collection of Egyptian and Asiatic treasures. I might almost say souvenirs; so many of them were connected with personal experiences and exalted personages. The veteran's memory had already begun to fail with age, but his vivacity and imagination glowed all the, more brightly; and his reminiscences of travel and adventure were embroidered with Oriental magnificence. I felt, after that hour, as if I had visited a stately, half-ruined edifice, overgrown with vines and flowers. The father's genius, adventurous spirit and generous philanthropy descended to his versatile, yet practical son. Like other men of such temperament, James Douglas tried many things before circumstances beyond his own control forced him into the line of his, principal lifework. At the age of 18, he was sent to the University of Edinburgh, where he studied for two years. Returning to Canada,, he entered Queen's University, at Kingston, Ontario, where he was graduated as Bachelor of Arts in 1858. Subsequently he studied medicine at Laval University, Quebec;

Jan 9, 1918

By H. N. Eavenson

In a discussion in the Transactions of the Institute (vol. Xl, page 835 et seq.) the writer gave some data about the explosions of gas and dust in the coal mines of the United States, Canada, and Mexico…

Jan 1, 1915

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

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

Jan 1, 1984