Search Documents

By E. Martinez

Samples of chrysocolla, a hydrated copper silicate, from several sources were submitted to differential thermal analysis (DTA) and thermal gravimetric analysis (TGA). Pure samples of chrysocolla are difficult to obtain, but comparison of the thermograms revealed that certain reactions occurred in all the samples and it is believed that these are due to chrysocolla. Endothermic reactions occurred at 50' to 175°C, 350° to 650°C, and 980° to 1100°C each of which caused a weight loss. The first was due to loss of absorbed water, the second to a dehydroxyla-tion, and the last to conversion of cupric oxide to cuprous oxide. In addition, two exotherms were detected at 685° to 695°C and 935° to 950°C. Infrared spectra of heated samples indicated the exotherms were due to changes in the Si-O bonds leading to the formation of cristobalite. The results suggest that thermoanalysis may be a more sensitive and reliable method for detection and identification of chrysocolla than X-ray diffraction, infrared spectroscopy, or optical techniques. The recovery of copper from oxide ores has been the subject of much research in recent years. One of the principal oxide copper minerals is chrysocolla, a hydrated copper silicate. The information available indicates that it has widely varying properties depending on the origin of the sample. Chrysocolla usually is found associated with cuprite, malachite, azurite, and native copper. Most of these other minerals are recoverable by present day flotation practice, but chrysocolla is lost in the tailings.1,2 Reagent combinations that are successful in laboratory chrysocolla flotation with ore from one source have been found to be ineffective with another. 3 The copper segregation process offers an altemative to beneficiation of oxide copper ores.4'5 The process is of particular interest in processing ores that cannot be treated by conventional hydrometal-lurgical methods because of high acid consumption.6 Fuller understanding of the properties of chryso- colla may prove of value in the search for improvements in both the flotation and segregation processes. Chrysocolla samples from Arizona, Nevada, Chile, Australia, and South Africa were studied by differential thermal analysis (DTA) and thermal gravimetric analysis (TGA). In addition, a sample from Miami, Ariz., was submitted to X-ray diffraction, infrared spectrophotometry, and surface area determination. EQUlPMENT Differential thermal analysis (DTA) detects, amplifies, and records exothermic-endothermic reactions occurring in a sample as its temperature is raised at a constant rate, usually 10°C per minute. A unit made by the Robert L. Stone Co. was used in this study. The tests can be run if desired with a gas streaming through the sample. A thermobalance records weight losses or gains in a sample as its temperature is raised at a uniform rate. The gravimetric analyses (TGA) were run on a Chevenard thermobalance converted electronically for graphic recording. A heating rate of 5°C per minute up to 1100°C was used in these tests. A Perkin Elmer Infrared Spectrophotometer, Model 221, was used with sodium chloride optics obtaining IR spectra in the 2 to 15 region. A pressed pellet technique with potassium bromide was used in preparing the samples. DESCRIPTION OF SAMPLES Chrysocolla is found in the oxidation zones of copper deposits commonly associated with malachite, azurite, and limonite. It is described as varying in composition and in color from bluish green to brown or black. Inclusions of other minerals are usual so chemical analysis of chrysocolla samples may be suspect. However, it is considered by many to be a solid solution of CuO, SiO2 and H2O with a general formula of CuO.SiO2.2H2O or 2CuO.2SiO2. 3H20. Chukhrov7 has described a sample from the Urals as CU3,5(OH)2 (A1Si3) O10.nH2O and stated that chrysocolla is a montmorillonite-type mineral. On the basis of X-ray analyses, DTA, and infrared spectra of chrysocolla from the Inspiration Mine, Ariz., Sun8 concluded that there was no substantial evidence to classify it as a montmorillonite mineral. Chrysocolla samples from many sources throughout the world were used in this investigation. The following is a brief description of each:

Jan 1, 1963

By David S. Bolin

INTRODUCTION This paper is directed toward those companies or individuals who may be considering the possibility of tin exploration or development projects in South America. Although tin deposits are known in many countries of Latin-America including Argentina, Peru, and Mexico, the majority of the deposits are located in Bolivia and Brazil. These two countries also account for virtually all the current production. Many factors affect the economic decisions related to mining and exploration projects in this region including the following: 1) Types of deposits 2) Anticipated size and grade of deposits 3) Deposit geometry and ore distribution as it affects the selection of a mining method 4) Metallurgical amenability 5) Governmental policies 6) Taxation 7) Anticipated capital and operating costs 8) Marketing costs This discussion will be directed toward each of these points. The majority of the presentation will be concentrated on Bolivia as this country is the principal producer in the region, however, the potential for further tin development in Brazil is excellent. Due to the remote and previously almost inaccessible location of the stanniferous districts of Brazil, little is known with respect to size and type of non-alluvial deposits which may exist in this vast country. TYPES OF DEPOSITS Two major types of deposits are currently being exploited in Bolivia; alluvial, and hard rock or lode deposits. Bolivia produces substantial tin from both types of deposit whereas virtually all Brazilian production to date has been from alluvial sources. Alluvial Deposits Brazil: The alluvial tin deposits of Brazil are located in river channels and flood plains adjacent to low mountain ranges. The terrain containing the tin placers is flat, marshy, and generally jungle covered. The major controls of alluvial cassiterite concentration are the ancient and present stream channels. The average tin concentration in the placers varies from 500 grams to approximately 1.0 kilograms per cubic meter. Tin reserves in the Rondonia field of Brazil have been estimated at 600,000 tons of fine tin. A bucketwheel suction dredge went into production in the Rondonia district in 1979, and four others have since been ordered. Several other gravel pump, and hand mining operations are also in production in this field. In addition to the Rondonia district, tin occurrences are known from Xingu, in Para state, and in the state of Minas Gerais. Bolivia: The alluvial deposits of Bolivia are somewhat more complex due to the variable geomorphology and abrupt topography. Conventional placer accumulations of cassiterite are found in many stream channels and intermontane basins surrounding the major lode tin producing regions. In addition to stream and valley placers, a group of deposits locally referred to as "Pallacos" or "Llamperas" which consist of colluvium, landslide debris and glacial moraine material, contain substantial tin reserves in some areas. The stream channel and intermontane basins contain the only deposits which are presently being exploited by mechanized methods. One dredge is working the stream channel below Cerro Rico de Potosi and another is operating in an intermontane basin southeast of the city of Oruro. Both of these dredges are operated by private companies. The average grade for these operations varies from 250 to 500 grams per cubic meter. The largest of the intermontane basin placers known at present is the Centenario deposit located adjacent to the Catavi lode deposit. This deposit contains approximately 170 million cubic meters of material with an average grade of about 150 grams per cubic meter. The "Pallacos" deposits are found on the slopes of mineralized areas and in glacial moraine. The mineralized material is generally completely unsorted, with tin and sometimes tungsten values distributed erratically throughout the entire mass. Most of these deposits are worked by small leasors or cooperatives; however, at least one mechanized washing plant is in operation southeast of Oruro. The size of these deposits may reach up to several million cubic yards. Grades are very erratic, but may range from 200 to 500 grams per cubic yard. In addition to the formal mining operations, virtually every drainage surrounding the major mines is being worked by independent' miners utilizing hand mining and jig or pan concentration. The aggregate production from these operations is substantial. The

Jan 1, 1982

By R. Stickler, A. Vinckier

An optical and electron microscope study was made on a commercial 302 stainless steel heat treated for massive carbide precipitation. Convincirg evidence was obtained that the grain boundary precipitate does not grow away from the grain boundary into the matrix, but grows as a network of large thin dendrites in between the grains. IN austenitic stainless steels the carbon in supersaturated solution precipitates when the steel is heated in the temperature range 450" to 1000°C. During such heat treatments the chromium-rich carbide occurs primarily at the grain boundaries and has adverse effects on the corrosion resistance and low-temperature ductility of the material. It has been shown that the morphology of the precipitated particles differs widely depending on the time and temperature of the heat treatment, the nature of the boundary, the misfit between the grains, and so forth.1"5 It was assumed by Mahla et al.,' Streicher,' and Mc Nutt' that the carbide particles which nucleate in the grain boundary grow in various geometric or dendritic forms away from the boundary into the matrix. However, Kinzel,' Hatwell et a, and Plateau et aL4 found that the particles nucleate in the grain boundary and grow as a network of thin dendrites in the grain boundary interface. We have made a comprehensive studyg of the precipitation occurring in a commercial 302 austenitic stainless steel heat treated for times ranging from 0.15 to 1500 hr at various temperatures from 480" to 1065"~. This study was made to elucidate the influence of heat treatments on both the mechanical and the corrosion properties of this steel. Part of this investigation which is pertinent to the morphology of the grain boundary carbides referred to above is separately reported here. We found that the particles which nucleated in the boundaries grew in the interface of these boundaries, thus supporting the viewpoints of Kinzel,' Hatwell et al.,3 and Plateau et al.4 Furthermore, when carbide particles nucleated in the matrix very close to the boundaries, they possessed a morphology distinctively different from the particles growing in the grain boundaries. MATERIAL A study of metallographic samples and of fracture surfaces of a 302 stainless steel is reported in this paper. The composition and heat treatments are listed in Table I. Polished and etched samples were examined und813r the optical microscope, and carbon extraction replicas of etched micrographic samples and various fracture surfaces3'8'9 were examined under the electron microscope. RESULTS AND DISCUSSION A representative optical micrograph of the 302 steel, condition A, is shown in Fig. l(a). Particles can be seen on the grain boundaries but no traces can be found of particles which grow from the grain boundaries into the matrix. A carbon extraction replica of this sample shows numerous large thin dendrites, Fig. l(b). The lateral dimension of such carbide particles vary up to 100 p, and their thickness estimated from the amoun! of electron penetration i:; between 500 and 1000A. Such large dendrites are extracted from almost all grain boundaries and, if they had grown into the grains, they would definitely be revealed by etching traces in the matrix, Fig. l(a). The reason why these large dendrites on the extraction replica appear to be grown into the grain is due to the mechanism of the extraction replica process. Thus, these dendrites are supported by the carbon replica film only at the edges originally along the grain boundary trace A-A, Fig. l(b), in the polished metal section and have subsequently fallen over onto the carbon replica film during handling. Although such dendrites generally fall only to one particular side of the grain boundary trace, one finds occasionally that parts of a dendrite have fallen to both sides, as shown in Fig. l(b). Further evidence for the growth of carbide in the grain boundary can be obtained from the appearance of fracture surfaces. A small impact specimen of the 302 steel, condition A, was broken at liquid nitrogen temperature. The fracture path follows the

Jan 1, 1962

By E. Douglas Sethness

The uranium industry is booming. In Texas alone, there are about 22 different companies with active exploration programs. Twelve solution mines have been permitted; three surface mines have been authorized; and two mills are currently in operation. However, the industry also has a problem, and that is the disposal of radioactive wastes. Over the past several years, stories concerning nuclear wastes have appeared frequently in the news. One of the most frequently cited cases occurred in Grand Junction, Colorado. In 1966, after ten years of investigations, the U. S. Public Health Service (PHS) discovered that tailings from a uranium mill were being used as fill material and aggregate for local construction purposes. It was estimated that between 150,000 and 200,000 tons of material had been removed and used under streets, driveways, swimming pools, and sewer lines. In addition, tailings had been used under concrete slabs and around foundations of occupiable structures. Further studies prompted the Surgeon General to warn that the risk of leukemia and lung cancer could be doubled at the measured radiation levels. More recently, the L. B. Foster Company discovered that its building site in Washington, West Virginia, was radioactive. While digging a foundation, the ground erupted and a ball of fire 30 feet high shot out. Evidently, the dirt was laced with radioactive thorium and zirconium, a potentially explosive mixture contained in a Nigerian sand which had been used by the previous site owners in the manufacture of nuclear fuel rods. Just this month we have read about legal suits to stop exploration for a nuclear waste disposal site in Randall County, Texas. The U. S. Department of Energy is trying to locate a deep underground nuclear waste depository for final burial of over 76 million gallons of high-level wastes. The problem is acute, the wastes are accumulating at a rate of about 300,000 gallons per year. Nor do these numbers include the spent fuel elements from nuclear power plants that are in temporary storage facilities. Fortunately, public awareness of these and other related issues is high. Unfortunately, the differences in the waste products from the nuclear fuel cycle are not always apparent to the general public. There are two distinct types of radioactive wastes: "high-level", which consist of spent fuel or wastes from the reprocessing of spent fuel; and "low-level", which, in general, are by-product wastes. There are numerous non-technical definitions that can be applied to help the layman differentiate between high-level and low-level wastes. For this latter purpose, it is best to think of them in terms of what we can see and feel. In general, high-level wastes are physically hot and can cause acute radiation sickness in a short period of time. Low-level wastes are not hot, but may cause chronic health effects after long exposure. The wastes which we are concerned with in the uranium mining and milling industry are low-level wastes. As recently as ten years ago, there were very few controls or regulations governing tailings disposal methods. At the same time, mine reclamation was not enforced through either state or Federal laws and the long-term viability of abandoned tailings ponds was not assured. The regulatory climate has changed significantly in the last decade, however. The low-level radioactive wastes generated by uranium mining and milling are generally contained in a tailings pond. Approximately 85-97% of the total radioactivity contained in uranium ore is present in the mill waste that goes to such tailings ponds. The isotope Radium-226 is probably the most potentially harmful radioactive parameter in the ponds. Radium emits gamma radiation and is also an alpha particle emitter. Because gamma radiation is very penetrating, it presents a potential health problem when a source is located external to the body. Gamma radiation will go through the body, causing damage to each cell encountered on the way. Although alpha particles have very little penetration capability, they can cause extensive cell damage. For this reason, alpha particles are a problem after inhalation or ingestion. Radium creates a health hazard by both of these mechanisms. Radium decays to radon gas which can be inhaled and serve as an alpha particle emitter. Additionally, radium is very soluble and readily enters the natural hydrologic cycle if allowed to leach from a tailings pond. With a half-life of 1620 years, radium has plenty of time to be taken into the food chain and end up in our bodies, emitting alpha particles. Because the potential health problems are better understood today than ten years ago, and because the Nuclear Regulatory Commission (NRC) has developed increasingly stringent government regulations, the uranium mining industry applies a high level of technology to the disposal of nuclear wastes. In most cases, low-level radioactive wastes are disposed of at or near the site where they are produced. There are six commercial burial grounds for low-level wastes, but it would not be economical to ship all mine or milling wastes to these sites. The on-site disposal methods most often used are ponding

Jan 1, 1979

By Charles E. Locke

IN gathering material for this review the aid of the individual members of the Milling Committee was invoked and the assistance received is hereby most grate- fully acknowledged. The replies were much alike; almost everyone stated that in 1932 his operations had been cur- tailed or stopped entirely, that the only activity and progress were in milling gold ores, and that the Hadsel mill' looked like a coming machine in the crushing and grinding field. However, further inquiry and search have shown that the year was not quite so barren of developments as the foregoing statement would indicate.

Jan 1, 1933

By Robert B. McCormick

World War II has developed a use for the nonmetal mineral quartz crystal that was unknown in World War I. During the interim period of peace, experimental work in the radio field with the piezoelectric properties of quartz crystal resulted in the almost universal adoption of quartz-crystal radio oscillator plates to control frequency in radio broadcasting, police, commercial and amateur communications equipment. Telephone resonators and filters made from quartz crystal also were developed, which vastly improved the frequency control of long distance telephone circuits. Expansion of the Industry The sudden war demands of the armed services for radio equipment using quartz crystal for frequency control led to an unprecedented expansion of the manufacturing industry. It is estimated that the 1940 peacetime volume amounted to approximately $1,500,000, while today a vast new quartz-crystal industry supplies more than $150,000,000 worth of quartz oscillator plates to the Army and Navy each year. This demand has caused an enormous expansion not only of American manufacturing facilities but also of Brazilian mining output, virtually our only source of raw quartz crystal. Actual figures of imports and consumption cannot be cited, for security reasons, but certain comparisons have been made, which indicate the transformation of quartz crystal from a minor to a major nonmetal. Lundl has shown that the value of quartz-crystal exports from Brazil is now about equal to that of phosphate rock produced domestically in 1941 and actually exceeds the combined value of crude feldspar, gypsum and fluorspar production in the United States in the same year. This great expansion under wartime pressure was not accomplished without some anxious moments, but all the demands of industry have been met and the Government has been able also to accumulate a substantial stock pile of material against future contingencies. Inspection and Grading of Quartz Crystal The swift growth of the quartz-oscillator industry necessitated the simultaneous evolution of methods and criteria for inspecting and grading quartz crystal. It has been found that, generally speaking, it is economically feasible to cut only crystals that are at least 30 per cent by volume free from major defects such as optical and electrical twinning, cracks and fractures. Blue needles, bubbles, "chuva" and other minor imperfections can be tolerated in the usable portion unless present in great excess. The present marketing system in use in both Brazil and the United States, as far as quality is concerned, depends solely on the "usability" of a crystal, which is defined in the Brazilian-American agreement2

Jan 1, 1948

By Robert B. McCormick

World War II has developed a use for the nonmetal mineral quartz crystal that was unknown in World War I. During the interim period of peace, experimental work in the radio field with the piezoelectric properties of quartz crystal resulted in the almost universal adoption of quartz-crystal radio oscillator plates to control frequency in radio broadcasting, police, commercial and amateur communications equipment. Telephone resonators and filters made from quartz crystal also were developed, which vastly improved the frequency control of long distance telephone circuits. Expansion of the Industry The sudden war demands of the armed services for radio equipment using quartz crystal for frequency control led to an unprecedented expansion of the manufacturing industry. It is estimated that the 1940 peacetime volume amounted to approximately $1,500,000, while today a vast new quartz-crystal industry supplies more than $150,000,000 worth of quartz oscillator plates to the Army and Navy each year. This demand has caused an enormous expansion not only of American manufacturing facilities but also of Brazilian mining output, virtually our only source of raw quartz crystal. Actual figures of imports and consumption cannot be cited, for security reasons, but certain comparisons have been made, which indicate the transformation of quartz crystal from a minor to a major nonmetal. Lundl has shown that the value of quartz-crystal exports from Brazil is now about equal to that of phosphate rock produced domestically in 1941 and actually exceeds the combined value of crude feldspar, gypsum and fluorspar production in the United States in the same year. This great expansion under wartime pressure was not accomplished without some anxious moments, but all the demands of industry have been met and the Government has been able also to accumulate a substantial stock pile of material against future contingencies. Inspection and Grading of Quartz Crystal The swift growth of the quartz-oscillator industry necessitated the simultaneous evolution of methods and criteria for inspecting and grading quartz crystal. It has been found that, generally speaking, it is economically feasible to cut only crystals that are at least 30 per cent by volume free from major defects such as optical and electrical twinning, cracks and fractures. Blue needles, bubbles, "chuva" and other minor imperfections can be tolerated in the usable portion unless present in great excess. The present marketing system in use in both Brazil and the United States, as far as quality is concerned, depends solely on the "usability" of a crystal, which is defined in the Brazilian-American agreement2

Jan 1, 1948

By John T. Ryan

DEFINITE improvement in its accident fatality rate in the coal-mining industry was recorded during 1941, based on preliminary figures for the period from January through October. Total production during this ten-month period was approximately 91 percent of the total production in all of 1940. The ten-month accident rate for both bituminous and anthracite mining in 1941 was 2.15 killed per million tons of coal mined, compared with a rate of 2.66 for the full year of 1940. The bituminous rate decreased from 2.55 in 1940 to 1.99 in ten months of 1941, and the anthracite rate from 3.62 to 3.53 in similar periods. The decrease is more apparent for the bituminous branch of the industry, as the high figure in 1940 was due to seven major disasters which brought death to 276 men. The same number of major explosions during ten months of 1941 caused only 64 lives to be lost. The severity of the explosions has been lower this year but a definite need still exists for reduction in this type of accident.

Jan 1, 1942

FRED TURRELL GREENE Fred Turrell Greene was born in Brooklyn, N. Y., Nov. 22, 1872. His father, William A. Greene, was born in Providence, R. I., and his mother, Angenora Semlear, was born in Brooklyn, N. Y. Fred's early school clays were spent in Boston, whence his father moved to Canada in 1882. Attending first the Collegiate Institute in Toronto, .then the High School at Berlin (now Kitchener), Ontario, where he graduated, Fred progressed to the Toronto University and the Michigan College of Mines, at Houghton, where lie graduated in 1897. He secured employment almost immediately at Butte with the engineering force of the Boston & Montana Consolidated Silver Mining Co., under Chas. S. Batterman. In 1899 he went to Rossland, B. C., where he spent more than a year as mining engineer and assistant superintendent of the War Eagle Consolidated Mining and Development Co. and the Center Star Mining Company Ltd. Returning to Butte in 1900, he acted as assistant geologist for the Anaconda Copper Mining Co. until 1906, when he filled a similar position in St. Paul with the Great Northern Railway for about two years. From 1908 until his tragic death on Christmas day, 1917, his headquarters were in Butte, where he enjoyed an excellent reputation -as consulting mining engineer, with a rapidly widening circle of clients. During the past four years he had been consulting engineer for the Elm Orlu and other mines controlled by Hon. W. A. Clark, and was in charge of underground developments and law-suit preparations for the celebrated apex case between the Elm Orlu and the Butte & Superior companies. At the time of his death he was in charge of similar work for the Utah Metals Co., in connection with their mines at Bingham, Utah. He was also for some years active in the Coeur d'Alenes, as consulting geologist for the Federal and other companies there, and was considered an authority on this as well as the Butte district. Mr. Greene was unmarried, and is survived by his parents, a younger brother, who is in the army, and one sister, Mrs. James A. Hatch, of New York. Some of the most important and valuable ideas regarding the nature and origin of copper ores have originated in Butte, since that district is not only one of the greatest examples of mineralization known in any land, but has gone through a long course of mining litigation, and was, one of the first to be studied intensively by geologists. In connection with the early investigations, as well as with the most recent in that camp, Mr. Greene played an important part. His conscientious devotion to his duties and his intelligent handling of the problems presented for solution sufficiently explain the esteem in which he was held by his employers and his professional associates.

Jan 5, 1918

By T. S. Plaskett

A striated structure perpendicular to the growth axis was observed by the copper-decoration tech-nique in dislocation-free, .float-zoned silicon crystals. The striations, which were spaced about 100 p apart, fitted the relationship d = f/u , where d is the spacing, f is the growth rate, and u is the crystal rotation rate. Each stria was resolved into an UNDOPED silicon crystals pulled from quartz crucibles by the Czochralski technique usually exhibit a striated structure perpendicular to the growth axis.'-' This structure has been attributed to oxygen segregation, with the oxygen being introduced from the quartz crucible. If the crucible is rotated, the level of oxygen contamination has been reported as high as 10° atoms per cu cm.10 These striations are similar to solute striations commonly observed in doped Czochralski-grown crystals. The periodic nature of the striations is caused by a periodic variation in the growth rate",12 which is attributed mainly to thermal gradients in the melt.13 A finer striated structure14 attributed to constitutional supercooling is sometimes observed between the coarse striae. The oxygen striations have been observed by infrared transmission techniques,' by the copper-decoration technique,' by X-ray diffraction microscopy,6-8 and by 9 p absorption measurements3 on crystals pulled from the melt both with and without dislocations. In this investigation float-zoned dislocation-free crystals were examined by the copper-decoration technique. The level of oxygen for float-zone material is less than 1016 atoms per cu cm the lower limit of detection by 9 p absorption measurement. EXPERIMENTAL TECHNIQUE The crystals were grown by the float-zone process with the rf heating coil outside of the quartz envelope containing the silicon. All float zoning was done under an atmosphere of purified helium. The Dash technique15 was used to grow the crystal dislocation-free. This involves growing the crystal initially with a diameter between 2 and 3 mm and at array of starlike precipitates of copper. The strucLure was not .found at the surface tor a depth of about 1.5 mm, or in a region of similar width ahead of a dislocation network. The structure is postulated to consist of vacancy clusterings or dislocation loops. very rapid rates, about 20 mm per min, for a distance of about 3 cm. The diameter of the crystal is then increased to the diameter of the source of silicon, which in this case was about 19 mm. Because of the arrangement of the apparatus, the zone was passed downward rather than upward, contrary to the standard float-zoning practice. Also, the source was rotated rather than the seed. ziegler17 has made dislocation-free crystals by a similar technique but has passed the zone upwards. The starting material was zone-refined and had a p-type resistivity of 150 ohm-cm. The major impurity was boron; the total impurity excluding the boron was reported by the supplier (Dow-Corning) to be typically less than 2 x 1013 atoms per cu cm. The crystals were examined by the Dash copper-decoration technique18'19—a method in which about 10" atoms per cu cm of copper are diffused at a temperature between 900" and 1000°C into silicon which is then quenched to room temperature. On quenching, the copper precipitates on crystalline defects which are then visible when viewed by transmission infrared microscopy. The photomicrographs shown were taken either of the infrared image tube screen or directly on infrared film. All sections prior to decorating were chemically polished and, for some sections, given a sirtlZ0 dislocation etch-pit examination. After decorating, the samples were mechanically polished. RESULTS A photomicrograph, taken in transmission of a decorated cross section, is shown in Fig. 1. The portion of the section shown is near the surface of the crystal. The entire cross section showed no dislocation etch pits after being given a Sirtl etch treatment. It is seen that the copper precipitated randomly. Each precipitate, as has been reported by others, was found to have a starlike structure.

Jan 1, 1965

By J. J. Frawley, W. J. Childs

The dynamic nucleation of supercooled bismuth and Bi-Sn alloys has been studied over a frequency range of 15 to 20,000 cps. For low-frequency vibration, a minimum vibrational energy was required for enhancement of nucleation. Above this critical energy, the dynamic supercooling was less than static supercooling showing that vibration promoted nucleation. The amount of dynamic supercooling continued to decrease with increasing vibrational energy until a minimum or threshold value was reached. This minimum value of supercooling for nucleation remained constant joy all further increases in vibrational energy. For higher frequencies, similar results were observed. This behavior has been related to the necessity of cavitation for dynamic nucleation. When a liquid is cooled to a temperature below its equilibrium melting point, the solid phase is more thermodynamically stable. However, for solidification to occur, a two-step process, nucleation and subsequent growth of the solid phase, must occur. When a liquid is supercooled, that is cooled below the equilibrium melting point, the controlling process for solidification to begin is the rate of nucleation. Once nucleation has occurred, the solidification process is controlled by the rate of growth. Nucleation can be induced by two factors: either by a catalyst or by the use of mechanical shock. Numerous investigators1-4 have studied the effect of nucleation catalysis but much less systematic study has been made of nucleation by mechanical shock waves. The influence of vibrations on grain size in castings and ingots has been studied by many authors but no clear understanding of the mechanism or accurate prediction of the effect has been presented.5 It would be intuitively expected that the further the departure from equilibrium (i.e., the greater the supercooling), the easier it would be to induce nucleation. This has been quantitatively demonstrated both by walker6 and later by Stuhr,7 that the greater the degree of supercooling the easier it is to nucleate by a shock wave. Stuhr also attempted to obtain the mechanical energy required for nucleation of bismuth as a function of supercooling. He vibrated a crucible containing supercooled metal at low frequencies and various amplitudes and noted the corresponding dynamic supercooling obtained. The amount of supercooling was inversely proportional to the mechanical energy applied. Limitation of his experiment was the problem of the confinement of the liquid in the crucible without splashing and minimizing other unwanted modes of vibration. Tiller et al.8,9 did similar work on tin and Sn-Pb alloys using an electromagnetic stirring device. Their conclusions were that the magnitude of the magnetic field strength did not affect the amount of undercooling at which nucleation was initiated. While conclusive experimental results have been lacking to explain this effect of mechanical vibration on inducing nucleation, a number of theories have been proposed. Two of these theories are discussed below. 1) The Change in Melting:- Point Locally Due to the Change in Pressure (Clapeyron Equation). According to Vonnegut10 the most plausible explanation for the nucleation of a supercooled melt by cavitation is the effect of changing the melting point by a change in pressure. For materials where the volume decreases on solidification, an increase in pressure raises the melting point; for materials which expand on solidification, the melting point is raised for a decrease in pressure, i.e., rarefaction. Using the Clapeyron equation, the melting point of a metal can be calculated as a function of pressure. If it is assumed that the equation can also be used to calculate the temperature of nucleation of a supercooled melt as a function of pressure (i.e., the temperature of heterogeneous nucleation will increase with pressure at the same rate as the melting point), the amount of supercooling required for nucleation will be constant at all pressures as shown in Fig. 1. It is obvious that an isothermal change which results in an increase in melting point results in an equal increase in supercooling. This increase in supercooling may now be sufficient for nucleation. A pressure of 80,000 atm was calculated, using the Clapeyron equation, as the pressure required to increase the temperature of nucleation of nickel by 200°C. According to Lord Rayleigh,11 this very large pressure could be generated for a very brief period of time by the collapse of a cavity. This pressure wave is radiated in all directions from the collapsed cavity. If the temperature of the melt is slightly below its equilibrium melting temperature at atmospheric pressure, stable growth can follow; that is, once nucleation occurs, growth becomes the main driving force of the solidification process. This proposal has been extended to water which expands on freezing by assuming that nucleation occurs during rarefaction following the pressure pulse. This negative pressure pulse should follow immediately after the positive pressure pulse with its magnitude approaching the critical tensile strength of the liquid. The negative pressure developed during this period would raise the melting point of water and thus promote nucleation. Hunt and jackson12 have suggested this for water. Similarly, it could be postulated that bismuth which also expands on freezing could be nucleated during the negative pressure pulse. 2) Nucleation by a High-pressure Phase. An extension of the Clapeyron equation to systems where density decreased on freezing at atmosphere pressure has been proposed by Hickling.13 The phase diagram for water initially shows the well-known decrease in

Jan 1, 1969

By G. A. Colligan, G. L. F. Powell

A new experimental technique has been developed to study nucleation behavior in eutectic alloys. It is somewhat similar to that applied by Sundquist and Mondolfo1 but with the advantages that: 1) bulk samples are undercooled instead of small droplets thus allowing the thermal behavior to be monitored by a thermocouple immersed in the sample, and 2) nucleation behavior is investigated in the same sample on either side of the eutectic composition by adding additional component to the sample under controlled conditions which preclude the addition of nu-cleation contaminants. Sundquist and Mondolfo carried out ]nucleation ex-periments on a large number of eutectic alloy sys-tems and concluded that nonreciprocal nucleation operated. If one phase a was a good nucleant for the other phase 0, then B was a poor nucleant for a. This was determined experinlentally by comparing the nucleation temperatures of 100 to 300 u diameter droplets of hypereutectic and hypoeutectic composition cooled from above the liquidus and from a temperature between the liquidus and the eutectic temperature. Primary phase a was concluded to be an efficient nucleant for the other phase B, if the following experimental result was obtained. Referring to Fig. 1, the temperature TI at which a drop of hypereutectic alloy of composition B froze when cooled from above the B liquidus was noted. This was the nucleation temperature for B in the absence of a. A drop of hypoeutectic alloy of composition A was then frozen from temperature T2 between the a liquidus and the eutectic temperature. The temperature T3 at which the eutectic nucleated in the presence of the primary or proeutec-tic a was noted. If this temperature T3 was higher than the temperature TI at which the B nucleated in a hypereutectic alloy, it was concluded that the primary a had nucleated the 6. This temperature T3, representing a certain undercooling below the equilibrium eutectic temperature Te , was designated ?TB by a> the undercooling below T, for nucleation of 13 by a. If there was no substantial difference in nucleation temperature between the hypereutectic drop cooled from above the /3 liquidus and the hypo-eutectic drop cooled from a temperature between the a liquidus and the eutectic temperature, it was considered that the a nucleated B at an undercooling equal to or greater than that at which P nucleated from a hypereutectic alloy. Sundquist and Mondolfo1 found that faceted primary crystals were good nucle-ants for metals that grow as orthogonal dendrites when present as the primary phase. Jackson2 has questioned Sundquist and Mondolfo's technique and proposed that in Sundquist and Mon-dolfo's samples, such as composition A, primary a retained B in reentrant grooves at their surfaces when heated to a temperature above the eutectic but below the a liquidus. This objection was suggested by experiments with organic eutectics where reten-

Jan 1, 1970

By H. K. Birnbaum

The effect of 1ow-temperature stabilization anneals on the structure of the 0 phase Au-Cd alloys and on the diffusionless transformations observed in these alloys was examined by X-yay diffraction techniques. A phase separation in the ß-phase region was proposed to account for the experimenta1 results. The effects of quenching from elevated temperatures on the transformation behavior of these alloys were shown to be consistent with the proposed mechanism. IT has been shown that the high-temperature ß phase (CsCl structure) of the Au-Cd alloy system transforms to a phase having an orthorhombic (D2) ß&apos; structurel1-3 for compositions near 47.5 at. pct Cd and a tetragonal (4/m, m, m) ß" structure* in the vicinity of 50.0 at. pct Cd. Both transformations are diffusionless, crystallographically reversible, and occur on cooling at about 60° and 30°C respectively. The temperature interval from the beginning to the end of the transformation is of the order of 5°C in each case. Although the transformations are normally athermal, some of them have been reported to occur isothermally.= wechsler6,7 has shown that the effects of quenching a 49.0 at. pct Cd alloy from elevated temperatures are consistent with the retention of a nonequilibrium number of lattice vacancies. Annealing of these quench effects results in a broadening of the X-ray reflections.8 After a suitable quench, the 47.5 at. pct Cd alloy transforms to a phase having not the p&apos; orthorhombic structure but another structure which has properties similar to that of the ß" tetragonal structure.5.9 This change in the type of transformation has also been obtained after long anneals in the ß-phase region at about 70oC10 The present investigation was primarily concerned with the structural changes accompanying the above transformation phenomena. The change in transformation product and accompanying physical changes during an anneal in the ß phase have been termed stabilization effects. Experimental Procedure —The results reported in this investigation were obtained with the use of a Norelco diffractometer fitted with a temperature-controlled cryostat. The specimen temperature was controlled to better than ± 0.l°C during the measurements. CrKa radiation monochromated electronically with the use of a scintillation counter and pulse height analyzer was utilized. Specimens containing 47.5 and 50.0 at. pct Cd were prepared by sintering filings obtained from homogenized ingots of the proper alloy composition. (Gold of 99.999 pct purity and cadmium of 99.98 pct purity were used). All heat treatments were carried out with the specimens capsulated in vacuum ( < 10 % mm Hg) or in a He-H gas mixture. The quenching technique used in these experiments was to drop the pyrex capsule which contained the specimen from the annealing furnace into water, the temperature of which was controlled. The pyrex capsule shattered on contacting the water resulting in a relatively rapid quench. After the heat treatment, the specimens were mounted in the diffractometer and were left undisturbed in the diffractometer specimen holder during each sequence of measurements. EXPERIMENTAL RESULTS A) Low-Temperature Annealing—The transformations which were considered "normal" for these alloys were those obtained athermally during furnace cooling at approximately 50°C per hr after an elevated temperature anneal. Under these experimental conditions, the specimens were observed to transform to phases having structures whose diffraction patterns could be indexed as the ß&apos; orthorhombic structure for the 47.5 at. pct Cd and as the 0" tetragonal structure for the 50.0 at. pct Cd alloys. The transformation temperatures on cooling were approximately 60" and 30°C, respectively. Under the "normal" conditions both transformations were observed to go to completion, i.e., the entire volume of the ß phase was transformed to the product phase. In some specimens an extremely weak ß 110 reflection was observed at 20°C indicating that a small amount of retained ß was present. The effect of low-temperature annealing on the nature of the diffusionless transformations was examined for the 47.5 and 50.0 at, pct Cd alloy. The specimens were annealed in evacuated capsules at temperatures in the vicinity of 600°C (as specified in Table I) for 24 hr and were then cooled to 100°C at a rate of 50°C per hr. The specimens were then removed from the capsules and mounted in the diffractometer without allowing the specimen temperature to drop below 80°C. Annealing at the low temperatures was accomplished in the diffractometer by means of the cryostat which was mounted around the specimen. During the low-temperature anneals the lattice parameter, integral breadth of the reflections, and ratios of the integrated intensities of the fundamental and super lattice reflections for the 0 cubic phase were periodically determined. After annealing for the required time, the specimens were slowly cooled in the diffractometer and the diffraction patterns were recorded as a function of temperature. The specimens were cooled until the phase transformations were completed, following which the specimens were heated and diffraction

Jan 1, 1960

By Joseph E. Worthington

Many thousands of years ago when our earliest ancestor first swung out of a tree, picked up a rock, and threw it at what he hoped might be his lunch, the minerals industry, in a manner of speaking, was born. It was then a very long step indeed to the primitive metal industry of our early civilizations, for we know that precious metals were accumulated and some metal objects were produced several thousand years ago. Prospecting, or "exploration" to use the modern euphemism, consisted of little more than outcrop examination and the use of a gold pan, and it probably did not change much from our earliest civilizations until relatively recent times. In a general sense, all the early explorers of North America were also prospectors, for mineral wealth was certainly one of the goals of the first pioneers and settlers. The earliest pioneers didn&apos;t do too badly either, for they discovered copper and iron in various places in the Appalachians and Michigan, gold in the Southeast Piedmont and many mineralized areas in the Southwest. In most places these were outcropping ores or gossans, and the prospecting was incidental to the arduous task of ekeing out a living in a new land. It was the explosive discovery of rich placer gold deposits at Sutter&apos;s Mill in California that caught the public fancy and precipitated the establishment of prospecting as a full-time occupation. After the end of the Civil War in 1865, full-time prospecting became an important occupation and continued as such for almost three generations. Prospectors equipped with picks, shovels, gold pans and four-footed transportation swarmed all over what are now our Western States, discovering thousands upon thousands of mineral showings-and certainly most of today&apos;s large mining districts. Our vigorous western mining industry is a tribute to the courage and persistence of these men. The techniques of these picturesque prospectors, however, were essentially the same as those of their predecessors-examination of every outcrop and assiduous use of the gold pan. The great increase in discovery at this time was therefore due to increased activity rather than to different techniques. An important result of this in- creased prospecting was the growth of interest in geology. It was during this period that the U.S. Geological Survey began to grow. Many of the major mining districts were mapped, and geological studies and projections began to have an impact on further ore discovery. Ore search and development gradually became more geologically oriented and the geologist became a fixture in most mining camps by the 20th century. The development of mass-mining techniques in the early part of the century also changed exploration concepts.

Jan 1, 1971

By Raymond L. Jones

With the inauguration of open-pit copper mining in Bagdad, Ariz., plans were formulated for a large scale leaching operation. Dump stockpiling was started almost immediately, but actual production was not initiated until spring 1961.

Jan 9, 1977

By L. D. Hall, D. R. Mash

The paper presents the results of experiments on the anelastic. behavior of gold, as manifested by grain boundary relaxation. Two grain boundary internal friction peaks are found for 99.9998 pct Au. It is found that the peaks are associated with primary and secondary recrystallization. However, the existence of two discrete peaks cannot be explained on the basis of grain size and shape alone. It is suggested that grain boundary stability, as determined by orientation, plays a role in the observed effects. EVIDENCE for the viscous behavior of grain boundaries in metals has been presented in recent years by several investigators, based upon studies of various anelastic effects, especially internal friction. KG1 has contributed greatly to this field, having put forward a coherent body of evidence for stress relaxation by the viscous intercrystalline flow mechanism. In this connection, he has made extensive use of pure aluminum (99.991 pct) as the test material, although he has also studied other metals and alloys, including pure iron (Puron).² Rotherham, Smith, and Greenough³ have studied the internal friction of pure tin, interpreting their results in a manner similar to that of KG. In view of the importance of such studies in shedding light upon the fundamental structure and behavior of the grain boundaries in pure metals, it appears that the use of a very pure test material which is inert to its environment should provide useful information on anelastic properties and the source of such behavior in pure metals. The present work was carried out on spectrograph-ically pure, 99.9998 pct Au, free of all impurities except for a trace of silver, estimated to be present to the extent of about 0.0002 pct. The term "pure gold" will hereafter refer to this very pure material. Gold of commercial purity, 99.98 pct, was also studied to observe the effects of small amounts of impurities. A pure gold "single crystal" specimen was also tested for comparison. The variation of the internal friction and rigidity modulus as a function of temperature was determined by means of a torsion pendulum apparatus employing extremely low stress amplitudes and a frequency of vibration of the order of 1 cycle per sec. A 12 in. length of 0.031 in. (20 gage) gold wire formed the suspension element. The apparatus was similar to that described by Ke.l The test procedure and the basic requirements to be met for obtaining useful experimental data by this method have been given elsewhere.1,2 It should be made clear that in all of the experiments to be described, the internal friction and rigidity were independent of the amplitude of torsional vibration. The semilog plot of amplitude of vibration vs ordinal number of vibration was a straight line. This was carefully verified for each internal friction measurement. The linear variation shows that the internal friction was independent of stress; i.e., that the specimens were not being cold-worked during testing. The reproducibility of the internal friction curves, which were obtained by cyclic heating and cooling, indicates that the gold was unaffected by its environment during the tests. The measure of internal friction adopted in the present study is the conventional "logarithmic decrement," defined as follows: log. dec. = l/n In A0/An [I] where n is the number of cycles or vibrations; A,, the initial amplitude of vibration; and An, the amplitude after the nth cycle. When the logarithmic decrement is small, the shear modulus, G, of the wire is proportional to the square of the frequency of vibration provided the length and radius of the wire are kept constant. A plot of frequency squared vs temperature gives the following ratio:&apos; This expresses the fraction of the stress which has not been relaxed at a given temperature. Gr and Gv are the relaxed and unrelaxed moduli, respectively. The frequency of vibration in the polycrys-talline specimen is fp, and the frequency of vibration of a single crystal is f8. This latter quantity is obtained simply by extrapolating the linear, low temperature portion of the curve of frequency squared vs temperature for the polycrystalline specimens. The theory of viscous grain boundary stress relaxation as demonstrated by the anelastic behavior of metals has been discussed in detail by Zener4 and need not be reproduced here. Experimental Results Initial measurements of the internal friction of pure gold were carried out on specimens which had been drawn with no intermediate annealing, resulting in a material which had undergone approximately 99 pct reduction of area in final processing. Annealing was then carried out at successively higher temperatures starting at 400°F for 1 hr and proceeding in this manner to as high as 1600°F in 100°F intervals. After each annealing treatment an internal friction and rigidity vs temperature curve was obtained over the range from room temperature to the particular annealing temperature. The resulting internal friction curves did not exhibit well defined maxima (peaks), but rather several fairly flat

Jan 1, 1954

By W. T. Thom

ALL engineering education is faced by certain basic problems, three of which seem to have particular present importance in geological engineering training in general, and in respect to training for oil field geoexploratory work in particular. PROBLEM I The first of these problems has to do with present and future educational objectives and with the numbers and qualities of the men who should be coming out of our geoexploratory training programs. Before the war we needed ever-increasing numbers of graduates at the Bachelor&apos;s level and a very much smaller number of men who had reached the Doctorate degree. Now, with more difficult, more extensive, and more costly exploratory work; with a rapid expansion of company "staff" activities, and with the initiation of many new research organizations and laboratories; it is clear that men of exceptional ability will be more and more in demand, and that the schools will need to carry a greater proportion of their students through to the Ph.D. degree. PROBLEM 2 Assuming that the mineral industries will need an increasing supply of well-qualified Ph.D.s for future geoexploratory work (staff, line and research), can the schools expect to provide this supply of able Ph.D.s merely by expanding the proportion of B.S. and B.A. majors who go on through to the doctorate stage of training? And the answer is definitely "No "-as the situation stands at present. Most A.B. graduates are years short of the preparations in basic science and elementary engineering prerequisite to effective graduate study in the geoexploratory fields (paleontology excepted), and similarly many of the annual crop of B.S. graduates lack adequate training in English; in ancient and modern history; and in the modern principles of labor and public relations. Indeed, several basic problems of undergraduate curricular organization and integration remain to be solved before most recipients of a Bachelor&apos;s degree will have that sound and broad educational foundation prerequisite to graduate training on a really effective basis. It is for these reasons that we have continued to experiment with our geological engineering program at Princeton, in an endeavor to provide a pilot-plant demonstration of a suitably broad and flexible undergraduate curriculum. PROBLEM 3 But assuming that the schools can and do get undergraduate curricula set up in proper phase and scale to meet needed enrollment quotas for graduate training, what about the most urgent part of our whole mineral-industry educational problem? What about finding and bringing into mineral-industry training those youngsters of superior ability who are, by potential or known inclination, especially well-qualified for geoexploratory work?

Jan 1, 1947

By Frank H. Macpherson

When it became apparent early in 1941 that the United States might be drawn into the war, studies were made of the bauxite situation in Arkansas, principally because 9.5 pct of the known bauxite reserves of the country were located in that State. Bauxite mining was then geared for maximum production to supply ore to meet this country&apos;s war requirements and, if necessary, to supply the needs of Canada as well. In view of the comparatively small bauxite reserves, Congress appropriated funds for an extensive exploratory drilling program to be carried out by the Bureau of Mines in cooperation with the Geological Survey. An alumina plant was erected near Bauxite and an aluminum plant near Hot Springs, Ark., by the Defence Plant Corp. The Metals Reserve Co. established a schedule of prices, arranged for stockpile sites and a buying agency. Operators cooperated to step up production and new ones came into the field. Production Record Prior to 1941, the greatest annual production in Arkansas was 562,892 long tons, dry basis in 1918. During the single month of August 1943, 693,596 long tons were mined—130,704 tons more than for the entire year of 1918. In general the Arkansas bauxite deposits are relatively small, irregular in thickness, somewhat scattered and, compared to coal, iron or open-pit copper deposits, are ill-adapted to an expansion in output. Commercial deposits range in horizontal extent from less than an acre to about 40 acres and are usually very irregular in outline. The average thickness of all known workable deposits is between 12 and 15 ft. with a maximum of about 60 ft. The ore bodies are usually somewhat undulating and nearly horizontal although locally some deposits dip as much as IS°. Types of Bauxite Three physical types of bauxite may be recognized: pisolitic, granitic and amorphous. Pisolitic ore is the most common type. It consists of small pebble-like nodules, ranging from the size of a pin head up to several inches in diameter, all set in a fine grained matrix. Transported bauxite is usually- pisolitic. Most residual bauxite is granitic. It is believed not to have moved appreciably from the location where it originally was formed. This is indicated by the fact that it appears to grade into unaltered nephelite syenite, which it overlies. Amorphous ore is the least abundant. It is nonpisolitic and resembles clay, has no characteristic texture, and can be identified definitely only by chemical analysis. Uses of Bauxite Bauxite is chiefly used for, and at the present time is substantially the only

Jan 1, 1948

By Frank H. Macpherson

When it became apparent early in 1941 that the United States might be drawn into the war, studies were made of the bauxite situation in Arkansas, principally because 9.5 pct of the known bauxite reserves of the country were located in that State. Bauxite mining was then geared for maximum production to supply ore to meet this country&apos;s war requirements and, if necessary, to supply the needs of Canada as well. In view of the comparatively small bauxite reserves, Congress appropriated funds for an extensive exploratory drilling program to be carried out by the Bureau of Mines in cooperation with the Geological Survey. An alumina plant was erected near Bauxite and an aluminum plant near Hot Springs, Ark., by the Defence Plant Corp. The Metals Reserve Co. established a schedule of prices, arranged for stockpile sites and a buying agency. Operators cooperated to step up production and new ones came into the field. Production Record Prior to 1941, the greatest annual production in Arkansas was 562,892 long tons, dry basis in 1918. During the single month of August 1943, 693,596 long tons were mined—130,704 tons more than for the entire year of 1918. In general the Arkansas bauxite deposits are relatively small, irregular in thickness, somewhat scattered and, compared to coal, iron or open-pit copper deposits, are ill-adapted to an expansion in output. Commercial deposits range in horizontal extent from less than an acre to about 40 acres and are usually very irregular in outline. The average thickness of all known workable deposits is between 12 and 15 ft. with a maximum of about 60 ft. The ore bodies are usually somewhat undulating and nearly horizontal although locally some deposits dip as much as IS°. Types of Bauxite Three physical types of bauxite may be recognized: pisolitic, granitic and amorphous. Pisolitic ore is the most common type. It consists of small pebble-like nodules, ranging from the size of a pin head up to several inches in diameter, all set in a fine grained matrix. Transported bauxite is usually- pisolitic. Most residual bauxite is granitic. It is believed not to have moved appreciably from the location where it originally was formed. This is indicated by the fact that it appears to grade into unaltered nephelite syenite, which it overlies. Amorphous ore is the least abundant. It is nonpisolitic and resembles clay, has no characteristic texture, and can be identified definitely only by chemical analysis. Uses of Bauxite Bauxite is chiefly used for, and at the present time is substantially the only

Jan 1, 1948

By Michael Bradbury

INTRODUCTION A major change in financing exports in recent years has been the decreased importance of subsidized export credits, following the commitment of the OECD countries to eliminate the subsidy element. Subsidized export credit rates are now often more expensive than market rates as the financing for exporters has decreased in volume and importance. The forfait market, in recognition of this decreasing importance, provides a rapidly expanding source of nonrecource finance for exporters. The following is a step by step guide to what it is, how it works, its benefits and problems. WHAT IS FORFAITING? Forfaiting is not new. It has been used in Europe for about 25 years to provide export finance for both capital goods and commodities without recourse to the exporter. Although long the preserve of exporters in Germany, and more lately Italy, forfaiting is now used increasingly by exporters in Great Britain, the United States, Canada and Scandinavia. It is a fairly simple operation with easy straight-forward documentation. The transaction involves the purchase by the forfaiting bank of a bill of exchange or a series of bills without recourse to the exporter. These bills will have been drawn by the exporter, accepted by the importer, and will usually bear the unconditional guarantee of the importer&apos;s bank. They are normally drawn payable at intervals during the credit period agreed between importer and exporter and are purchased at a discount by the forfaiter. The exporter thus obtains his cash payment and the importer receives his credit period. The forfaiter collects the amount of the bills as they mature directly from the importer. Credit periods vary, depending upon the type of goods and the country and commercial risk of the importer. The period is generally between one and five years with six monthly maturities. The usual forfait currencies are US dollars. Deutschmarks and Swiss francs and others, such as sterling, French francs, and the Scandinavian currencies are being used more frequently. CHOOSING FORFAITING Most types of financing require the continued involvement of the exporter in the financial side of the transaction during the credit period. Forfaiting has certain comparative advantages. In particular, it is possible to forfait 100 percent of the risk without recourse to the exporter, unlike government sponsored export finance schemes, where some retention of the risk by the exporter is required. In addition, exports from country sources do not present problems and forfaiting can also cover trade within the EEC. Other benefits for the exporter are: (a) The exporter&apos;s balance sheet is improved; debts are turned into cash thus improving the liquidity of the company and enhancing its cash flow. And there are no contingent liabilities for bills of exchange. (b) If the sales contract is in a foreign currency forfaiting removes the risk to the exporter of adverse movements in foreign exchange during the credit period. (c) Fluctuations in interest rates during the credit period can be ignored since in forfaiting the transaction is usually done on fixed interest rate terms on a discount basis. (d) The political and transfer risks are taken by the forfaiter. (e) The commercial risk is taken by the forfaiter. (f) The costs of administration and collection etc. during the credit period are removed.

Jan 1, 1985