Search Documents

By Peter A. Allen

INTRODUCTION Lac Minerals Ltd., a significant North American producer of gold and other metals for over three decades, recently completed the financing for its third discovery in an eight year period. From 1975 to 1982, three important gold deposits in Quebec and Ontario: namely Bousquet, Doyon and Hemlo, were located and tested by company geologists. When current development plans are complete, Lac will have injected $400 million into these deposits. A discussion of these projects and their financing reveals some extraordinary challenges faced by top mining management. Responses to these challenges developed by Lac management may interest executives planning to proceed with new North American gold or base metal mines. MINE DE BOUSQUET In 1976, we explored a property containing a large low grade surface gold deposit. The geologial setting was exciting and we tested recent rethinking about the volcanigenic genesis of gold and base metal occurrences. These ideas helped pus to persist in drilling a nearby conductor and 600,000 ton, 0.22 ounce/ton orebody was outlined. With gold at $Cdn.150 per ounce the feasibility was approved and work started February 1978. Availability of a company custom mill 35 miles away reduced our immediate capital needs to $8.5 million. First of all, understanding the geological significance of results at Bousquet was critical. Mine and surface exploration geologists at Lac are continually and closely working together to better understand the nature of gold deposits in the Shield. This management emphasis on both pure and mine geology meant that a much larger ore reserve could confidently be predicted. (A proposal to quickly develop and ship the ore to a nearby company mine was discarded.) Instead of designing just for the initial plan of 500 tons per day we therefore included headframe, shaft and hoisting capacity for 1,700 tons and provided a compartment for future shaft deepening. These prebuilt additions were welcomed within two years. The type of collaboration whereby surface and mine geologists make study and field projects of each other's problems sets the foundation for this predictive ability. At Lac, the traditional responsibility for and supervision of the mine geologist by the mine manager is modified by this collaboration. This adds interest and scope to the geologist's work and lets him think beyond production requirements. Besides such management considerations, dedicated, professional geologists with integrity and lots of practical experience are needed to plan successful developments like Bousquet. Second, projecting future bullion revenue was critical and our experience selling production for future delivery gave us a way to ensure that loan repayment at term would not be jeopardized by falling metal prices. Output from a single mine is often reduced or curtailed for numerous reasons, so "selling forward" is done best and with least risk by companies like Lac with more than one or two producing locations for that metal. At first, a forward marketing program was considered unwise, speculative and unorthodox by analysts and other producers. Declining markets in the early 1980s prolonged gold project capital recoveries however, and critics were better able to appreciate the usefulness of such a tool. The notion that gold miners shouldn't sell forward is rooted in the belief that long-run gold prices will rise as modern social theory implementation in democracies inevitably erodes currency values. Selling against this trend goes against this industry belief or "ethic" and is at odds with the company shareholder who expects the gold price to rise not fall. Nonetheless, an efficient tool is available to the gold producer (not to most other metal producers) to quickly disengage from adverse price trends or to lock in spot prices instantaneously for two years or more of profits. Gold had recently retreated from U.S.$200 to $104 and now had reversed to $150. Lac had been forced to close several of its producers during the late 1960s because central bank-controlled

Jan 1, 1985

CHICAGO SECTION CHARLES H. MACDOWELL, Chairman, LUTHER V. RICE, Vice-chairman, HENRY W. NICHOLS, Secretary-Treasurer, Field Museum of Natural History, Chicago, Ill. ALEXANDER K. HAMILTON, G. P. HULST, HENRY P. HOWLAND, FREDERICK T. SNYDER. A meeting of the Chicago Section was held at the Chicago Engineers' Club on the evening of March 30, 1918, on the occasion of the visit of the President, Vice-president. and Secretary of the Institute. The meeting was called to order by Henry W. Nichols, Secretary of the Chicago Section. The first speaker of the evening was Mr. Allen, Deputy Fuel Administrator for the State: of Illinois, who spoke on the problems and difficulties encountered by the Fuel Administration during the past -winter, He paid high tribute to the spirit of cooperation shown by the

Jan 5, 1918

By Ira B. Joralernon

THREATS of a coming metal famine in the United States have filled many columns in magazines and newspapers in the past three years. This asserted menace has diverted attention from the actual results of recent exploration. Because no one had bothered to look into the facts, the statistical experts assumed that little ore was being found. They often subtracted the staggering tonnage of metals produced during the war from earlier published reserves, and assumed that the difference was all we had left. Naturally, they shuddered, with all possible publicity. For their figures showed an imminent lack of nearly all the metals needed for an industrial civilization, as well as for mechanized war. They concluded that only wholesale imports and development and production of metals by Federal agencies could avert the famine.

Jan 1, 1948

Discussion of the paper Of NOEL CUNNINGHAM, presented at the New York meeting, February, 1915, and printed in Bulletin No. 99, March, 1915, pp. 601 to 608. C. H. POIRIER, New York, N. Y. (communication to the Secretary*). -Mr. Cunningham's paper, written from the standpoint of a stamp advocate, while commenting more or less favorably upon the installation of ball mills in the Vipond plant, does not, in my opinion, give as much emphasis to the comparatively new departure as the installation of ball mills in the place of stamps justifies. This discussion is based upon my personal and intimate practical work for several years with stamp mills, and for the past three years with Hardinge ball and pebble mills. The fact that the Vipond mine contains about equal quantities of the A and B classes of ore mentioned by Air. Cunningham, and the further fact that I have had a most intimate knowledge of the working of both classes of ore in the Porcupine district in stamp mills and ball mills, justifies upholding my final decision to use ball mills in the place of stamps, and defends my present further action in now increasing the present Vipond capacity by the addition of another 6-ft. Hardinge ball mill, in which action the directors of my company concur. This is one of the strongest evidences I can possibly offer in substantiation of my opinion that the ball mill exceeds the efficiency of the stamp, both in metallurgical and mechanical economy. It is hardly fair to compare a 100-ton per clay plant with a mill handling several times this amount, yet it is my belief that the cost per ton. of grinding in the ball mill is far less than that of any stamp mill in the district, where capacities run up to 400 tons per clay.

Jan 5, 1915

Charles Catlett, Staunton, Va. (communication to the Secretary*):—Mr. Chance's suggestions that the brown hematite-ores of the Potsdam formation are due to the alteration in place of iron sulphide, and that their extension may reasonably he expected to contain valuable deposits of unaltered sulphide, are interesting; hut the facts marshaled by him are too limited

Jan 1, 1909

By Alan M. Bateman

Before World War II we proudly considered that we were the nation of all the world most richly endowed in mineral resources. We knew it was no accident that those countries abundantly supplied with mineral resources became the great manufacturing nations, and the politically and militarily strong ones; and that our own great industrial cities sprang up where coal and iron met. We all reallized, especially we of the mining profession, that the energy of fuels and the solidity of metals spelled industrial growth and in turn industrial might and that other nations came to regard mineral self-sufficiency as one of the chief goalsof economic nationalism.

Jan 1, 1949

By G. J. Ballmer

Drilling and blasting 12-in. blastholes started about the middle of 1946 and has worked out so well that about one half of the blasting, formerly done with 9-in. holes, is now done with 12-in. holes. In most of this work the harder benches were chosen for the 12-in. size because these were the areas where the greatest difficulty was encountered in thorough fragmentation. At the start of this experimental work a 42-T Bucyrus- Erie churn drill was available whereas all other blasthole drilling was being done with 29-T rigs. The large drill was first equipped with a standard 9-in. string of tools but it could not drill quite as fast as the 29-T drills. How- ever, when the weight of the string was increased about 700 lb, or to a total weight of about 3500 lb, it was found that the 42-T exceeded the drilling speed of the 29-T by about 25 per cent. When a 12-in. bit was substituted for the 9-in. bit the 42-T rig again dropped behind the drill- ing rate of the 29-T rigs. At this stage of the experiment the 42-T was using a 12-in. bit with detachable points and the total weight of the string of tools was about 3800 lb. It took longer to change the drill points than it did the regulation bit and this accounted for some of the slower drilling rate. When a heavier stem and standard construction 12-in. bits were used it was found that the 42-T could drill a 12-in. hole slightly faster than a 29-T could drill a 9-in. hole even in the hardest rock in the pit.

Jan 1, 1949

By Frances H. Clark

IN wartime, the fabrication and use of metals assumes increased importance, for a modern war of sizable proportions cannot be undertaken with- out a vast supply of this material. Light alloys of aluminum and magnesium, which were comparatively unknown in the last war, will play an important role in this one. Due to research on a vast scale in the interim of years, industry is today well equipped to fabricate metals on an enormous scale. Research for the past year has been most productive and a comprehensive survey in the space of this article would be impossible. It is hoped that the stressing of a few items here and there out of a great quantity of able work will indicate in a small way the advances made within recent times. Specific references to the literature will be omitted at the Editor's re- quest but some authors of papers that I have found of special interest are mentioned.

Jan 1, 1940

By Frank Firmstone

IN the early decades of the past century the method of starting iron blast-furnaces by "scaffolding-down" seems to have been in universal use for coke-furnaces and, at least in this country, for charcoal-furnaces also. It was likewise used at some of the early anthracite-furnaces, as is stated in the important "Reminiscences" printed by the late Samuel Thomas. I It had been generally superseded in Great Britain as early as 1850, by some variations of the plan now used, and was rarely used when Percy wrote.' On the Continent it was still followed in the 60's,3 and was elaborately described by Valerius in 1852. I have never read any statement as to when and by whom '4 scaffolding" was first dispensed with, but the following extracts from journals of my father seem to fix an authentic date for an instance in this country:

Mar 1, 1907

By T. F. Witherbee

It is proposed to give, first, a description of the works; second, a report of the first six months of the present blast; and third, such improvements as have been suggested by the practical working. The site selected for this furnace was, at the time of commencing work, October, 1872, entirely covered by the navigable waters of Lake Champlain. A coffer-dam was first built of cribs of round timber filled with stone, forming three sides, while the shore answered for the fourth. Considerable excavating was done with a steam-dredge, a hole being left for it to pass out. The opening was then built up, and the cribbing banked up with blue clay from the bottom of the lake, to render it water-tight and the dam pumped out; the remainder of the excavating being done by hand. All of the foundations, with the exception of the elevator-tower, and fifteen feet of the east side of hot blast, rest on the Potsdam sandstone, which forms the shore line, dipping into the lake at an angle of fifteen degrees. Owing to jogs in the formation, a much greater depth was found necessary than was at first anticipated, the foundation under the stack

By R. W. Armstrong, D. H. Feisel

Self-diffusion in pure crystalline solids has been described through extension of the Cohen and Tum-hull volume -fluctuation model originally proposed for diffusion in simple liquids. It is shown, for a number of crystalline solids, that the self-diffusion coefficient, D, obeys the relationship where a is the lattice spacing, v the Debye frequency, Z' the lattice-volume fluctuation per atom required for a diffusion jump, and (?V/Vo) the relative increase in the lattice volume resulting from thermal expansion between O°K and the temperature under consideration. The calculated value of Z' is dependent upon the difiusion mechanism and the lattice geometry. ThE need for an increased understanding of mass-transport processes in crystalline solids has resulted in much research to determine rates of self-diffusion.' For several metals (e.g., copper, silver, and iron), the experimental values of the self-diffusion coefficient, D, have been determined over a large interval of temperature and the accuracy of D has been investigated through repeated experiments. Also, a number of empirical and theoretical diffusion studies have established a rational basis for understanding the D values for the different elements.2"6 The empirical diffusion analysis by Sherby and simnad6 supplied the main stimulus for the present study. Sherby and Simnad, reviewing the self-diffusion data for a substantial number of pure crystalline solids, suggested that sufficient data were available to establish with some certainty the apparent intrinsic material properties which influence D. Without explicit regard for any mechanism of diffusion, these investigators obtained an empirical relationship for D which correlated the self- diffusion coefficient for each element with the melting temperature, crystal structure, and valence of the particular element. Their analysis is only unsatisfactory in that the effect on D of crystal structure is not very clear and the valence to be assigned to an element is not always straightforward. The present study is an attempt, from a very different viewpoint from that of Sherby and Simnad, to establish a basis for understanding the self-diffusion coefficients for crystalline solids. This analysis was undertaken for the purpose of developing a general expression for D which would explicitly depend on the mechanism of diffusion. The main result of the study is that diffusion in crystalline solids may be described in terms of a volume-fluctuation model which was originally proposed by Cohen and Turnbull7 to describe diffusion in simple liquids. The model appears to be useful for predicting self-diffusion coefficients in crystals. The following sections describe the volume-fluctuation model for diffusion, the application of this model to crystals, and the resultant agreement with experimental data. 1) THE VOLUME-FLUCTUATION MODEL FOR DIFFUSION Cohen and Turnbull7'8 developed their model for liquid self-diffusivity for the purpose of describing certain properties of liquids, glasses, and the liquid-glass transition. A hard-sphere model for the liquid structure is used. In this model, the size of a spherical molecule or atom is fixed for all temperatures by the interatomic spacing at the absolute zero of temperature. At any temperature above O°K, the atom is viewed as being contained within a larger spherical cage defined by the interatomic spacing of the atoms at that temperature. A random distribution of varying cage sizes is assumed to exist in the liquid. An individual diffusion jump occurs when the free volume of an atom (the volume of the cage containing the atom minus the volume of the atom) is large enough for the atom to jump out of its cage. With this physical picture of diffusion in liquids, Cohen and Turnbull derive the following equation for self-diffusivity: D=Doe-yv*/vf [1] where Do is the product of three factors which are the diffusion-path geometry, the diffusion-jump distance, and the velocity of the diffusing atom, v*

Jan 1, 1964

By E. J. Wasp, N. T. Cowper, R. A. Davis, W. F. McDermott

On October 26, 1967, the world's first long distance iron ore slurry line was put into service by Savage River Mines. The commissioning of this $5 million installation climaxed three years of development, testing, and construction. The mine and concentrator are located approximately 30 miles from the town of Waratah in a rugged semi-mountainous terrain. The open pit mine will produce approximately 5 million long tons a year of crude ore, which is ground in autogenous mills, separated magnetically, thickened and prepared for the pipeline. The 53-mile pipeline transports the 2,250,000 tons of concentrate north to Port Latta. The Port Latta facilities include the receiving, storage and thickening equipment for the slurry as well as filtering, balling and pelletizing equipment to produce the 2,250,000 tons of high grade iron ore pellets. Five vertical shaft furnaces are used for pelletizing.

Jan 1, 1969

By John R. Lotz

DEVELOPMENTS in Iran currently arousing interest in a considerable portion of the world, particularly on the part. of that country's immediate neighbor on the North and in our own country, an inseparably related to and largely dependent upon the government's attempts to strengthen its economy and improve the standard of living of its people. These efforts are encompassed by provisions of the Seven-Year Development Plan recently enacted and not, in the process of implementation. It is a fine example of what one financially sound but extremely backward and poorly equipped country has undertaken to do on its own account and with its own resources. This Seven-Year Plnil was formally authoriztld by an act of the Iranian Parliament in February 1948. Its stated objects are to carry out such plans for the development of the country and its economy as ail1 raise the standard of livinc: and standard of education of the people, and re- duce the cost of living. A seven-yrar program for carrying out the work within the limits of appropriations was assigned under the law. The total amount to be expended during the seven- year period was fixed at the equivalent of $670 millioil at current rates of exchange.

Jan 1, 1950

By Persifor Frazer

I DESIRE to say that, owing to the number of papers which have been more or less crowded at this session of the Institute, and the fact that, as one of the Local Committee, I have the distinguished honor to feel somewhat like one of the hosts, I should not tax the patience of members at this late hour, but would have my paper read by title were it in any way possible to do this. But the task I have set myself this evening is to present to the eyes of the members of the Institute certain objects which have occupied more or less of my time during the last eighteen months or two years. The objects I allude to are some of the igneous rocks of this country, which, until quite recently, have been less understood than any others. It will be well known to some of the members that some of the cooled lavas of a previous age of our planet, when not directly coarsely crystalline and granular, were considered and spoken of as " natural glasses," or perfectly uncrystalline, vitreous, or hyaline masses of matter. Among the first results of the use of the microscope was the dispersion of this fallacy. Sir David Brewster, Mr. H. C. Sorby, and William Nichol (the discoverer of the celebrated calcite prism, which bears his name), had, with greater or less success, examined sections of various rocks and minerals, both by transmitted and reflected light, and also in the form of powder. But, until the genius of Vogelsang undertook the subject, these investigations had no permanent value, nor did they constitute an independent line of mineralogical and geological research. Since the close of his labors, by Vogelsang's premature and much-lamented death, the subject has been made one of renewed interest by his brother-in-law, Ferdinand Zirkel, as well as by Rosenbusch, Tschermak, and many others abroad, and at home by the commencement of a systematic study of the traps of Connecticut by Messrs. E. D. Dana and G. W. Hawes, of New Haven, and by the splendid set of described sections of the traps of the West which have been furnished by Zirkel to illustrate Clarence King's report. I had the honor of presenting a large number of thin sections of our traps at the Washington meeting, for the inspection of the members, with the aid of a table microscope belonging to the Smithsonian Institution. Here I propose to project these sections upon the

By T. F. Witherbee

IT is proposed to give, first, a description of the works ; second, a report of the first six months of the present blast; and third, such improvements as have been suggested by the practical working. The site selected for this furnace was, at the time of commencing work, October, 1872, entirely covered by the navigable waters of Lake Champlain. A coffer-dam was first built of cribs of round timber filled with stone, forming three sides, while the shore answered for the fourth. Considerable excavating was done with a steam-dredge, a hole being left for it to pass out. The opening was then built up, and the cribbing banked up with blue clay from the bottom of the lake, to render it water-tight and the dam pumped out; the remainder of the excavating being done by hand. All of the foundations, with the exception of the elevator-tower, and fifteen feet of the east side of hot blast, rest on the Potsdam sandstone, which forms the shore line, dipping into the lake at an angle of fifteen degrees. Owing to jogs in the formation, a much greater depth was found necessary than was at first anticipated, the foundation under the stack

Jan 1, 1876

By Betty J. Laswell, Gerald W. Laswell

Rotary drilling in modern open-pit mining is usually considered the lead phase which not only establishes the production rates but frequently limits them. From this viewpoint alone, the drilling phase must be maximized. The drill phase is the step that permits all the other operational phases to function within their design limits. This means that, in most cases, the drill is literally run to destruction to ensure that the shovel will be able to smoothly and consistently load a manageably size muck, the haul trucks can carry a balanced load without having a boulder dropped through the bed, and the crusher can devour constant rock size.

Jan 8, 1978

By James E. Harding

AT just about the geographical center of the peninsula of Lower California is the El Arco gold mine. It is small and spotty, and three separate attempts to operate it in the past have failed. The only reason the present operation is possible is because of the higher price of gold and because the previous operators had spent about $300,000 developing the property with shafts, four levels, machinery, and a complete mill, all of which was acquired at a bargain price. All the known ore in the mine, to say nothing of the cost of recovering it, is

Jan 1, 1937

By R. D. Carnahan, J. E. White

A study of dispersion strengthening in TD-Nickel (nickel plus 2 vol pct Tho2) was conducted employing microstrain techniques at ambient room temperature. It was found that optimum strength was due primarily to the incorporation of stored energy developed by a variety of thermal-mechanical treatments. The relatively low strength of the recrys-tallized condition implies that the dispersed particles themselves offer only token resistance to deformation. The development of resistance to large-scale recovery or recrystallization at temperatures near the melting point requires a more extensive sequence of strain-anneal cycles than does the development of optimum strength. A micro-Bauschinger effect was observed which appears to be related to the lattice resistance to the movement of free dislocations. The effect was nearly identical to that in pure nickel indicating that the presence of the dispersed phase and considerably increased dislocation density (stored energy) only alters the number or effectiveness of barriers. THE early stages of deformation of engineering materials can be conveniently studied by utilizing strain-gage techniques which permit resolution of strains less than 5 X 10-7 in. per in. for testing in four-point bending (Carnahan and white1). The present investigation, part of a continuing study on the very early stages of deformation, was designed to reveal the true role of a dispersed phase in promoting high strength in a commercially available dispersion-strengthened alloy. Although this technique has been used for some time to study microdeformation in pure metals and alloys, it has just recently received attention as a means of investigating dispersion strengthening. Studying the very early stages of deformation in alloys which depend upon a finely dispersed inert phase for strength may prove to be a very important method for a better understanding of these materials. It is essential to obtain considerable clarification of actual dislocation movement and the kinds of deformation barriers which exist before optimum properties can be designed into this type of material with any degree of confidence. Considerable research on a variety of dispersion-strengthened materials has resulted in two different schools of thought regarding the strengthening mechanism. One faction2-4 favors the idea that the particles themselves resist the motion of dislocations. The criterion for yielding is the fracture of the dispersed second-phase particles due to an array of piled-up dislocations. Other invesfigators5-a have shown that particles are effective primarily by allowing a greater buildup of stored energy or dislocation density through thermal-mechanical treatments in the composite than the pure matrix material. The particles themselves, then, are not exclusive obstacles, but the complex network of particles, dislocation tangles, subboundaries, and grain boundaries are strength determining. The development of such a complex dislocation network in SAP has been studied recently in some detail by Goodrich and Ansell. The ability of dispersion-strengthened alloys to resist softening or recrystallization is also of considerable importance; however, the criteria for maximum stability may not necessarily be those for maximum strength. In this study, in addition to the evaluation of the microstrain properties of TD-Nickel, it is felt that considerable clarification of the true dependence of strength and stability on the dispersed phase is shown. I) MATERIAL AND PROCEDURE TD-Nickel is a dispersion-strengthened alloy developed by the E. I. DuPont de Nemours Co., which contains 2 vol pct thoria (Tho2) in a pure-nickel matrix. The average ThO2 particle size is approximately 0.1 p and the interparticle spacing is less than 1 u. The material was supplied by DuPont in two conditions: hot-extruded bar stock, and stress-relieved cold-rolled sheet 0.025 in. in thickness. The bar was extruded at 2200°F from a cold-pressed and sintered billet. The sheet stock was prepared from the extruded material by a process involving ten or more 50-pct cold reductions by rolling with intermediate anneals at 1800° to 2000°F. Test specimens used in this study were prepared in the form of rectangular parallelepipeds measuring 0.375 by 1.375 in. in thicknesses ranging from 0.025 to 0.040 in. Samples prepared from sheet and extruded stock were mechanically polished before heat treatment and were handled with extreme

Jan 1, 1964

MONDAY, FEB. 17 9.00 A.M. to 9.00 P.M. Registration at Institute Headquarters. 9.00 A.M. Meeting of Committee on Development of the Activities of the Institute, Room 905, 9th Floor. 10.00 A.M. Simultaneous Sessions of Institute of Metals Division, Room 2, 5th floor. Industrial Organization, Room 1, 5th Floor. 12.30 P.M. Luncheon at Headquarters, 5th Floor. 2.00 P.M. to 4.25 P.M. Simultaneous Sessions of Institute of Metals Division, Room 2, 5th Floor. Industrial Organization, Room 1, 5th Floor. Petroleum and Gas, Room 905, .9th Floor. 2.30 P.M. Sightseeing trip by automobile for the ladies. Among the points visited will be: The American Museum of Natural History. The Episcopal Cathedral of St. John the Devine. The Spanish Museum. The American Geographical Society. The American Numismatic Society. The visits will be followed by Tea. 4.30 P.M. Memorial Service to Dr. Rossiter W. Raymond, Auditorium. 8.30 P.M. Smoker, 5th.floor.

Jan 2, 1919

By Frank Haas

THE public generally has-become aware that there is something wrong with the coal industry and a clamor has arisen for an explanation if not a remedy for this disorder. It is only reasonable that this Institute be looked to for a diagnosis to show the way for some other .agency to prepare the patient for prescription or operation. The subject is extensive, widely diversified, and beyond the efforts of an individual to cover completely; one of the objects of this paper is the initiating of a symposium on the non- technical factors essential to an understanding of the bituminous coal industry. The present condition of the coal industry cannot be described in a few words but, in effect, it resolves itself into a simple statement: The average coal operator is losing money notwithstanding a firm conviction on the part of the consumer that he pays too much for his coal. Without enumerating the many and varied. factors which contribute to this condition, this paper will be devoted to the interrelation of taxation and ownership of coal and its effect on finance

Jan 1, 1930