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By Lloyd Jones

THE strip industry made rapid strides in regard to both width and gage until about 1922, when the maximum width was about 20 in. In the hot mills, strips of thin gages in wide widths could be pro-duced, but only at a sacrifice of length of coil, con-siderable increase in power, and decreased tonnage out-put on the min. Hot mills, like the Bray sheet mill and the modern strip and skelp mills, demonstrated that . wider strip could readily be rolled, if such a product was desired. The strip manufacturers were really limited in width, not by the hot strip, but by the cold rolling of wide strip. This factor was roll pressure. The diameter of rolls increased as the width of strip increased. For cold rolling strip 20 in. wide, cold rolls were approximately 20 in. diameter. As the rolls became larger, the arc of contact between the rolls and the strip increased approximately, according to the formula, b=\/Rd where b = the width of contact R = roll radius d = total reduction Now the crushing strength of cold steel of low carbon varies from 70,000 to 100,000 lb. per sq. in. With each succeeding pass the crushing strength increases and may approach 250,000 lb., according to the total reduction. The total reduction in cold rolling of low-carbon steel will range from 40 to 70 per cent of the original thickness, usually in about three or four passes. On this basis, assuming a reduction of 20 per cent in one pass, the crushing strength of steel assumed at 120,000 lb., we have a total pressure between rolls, which (assuming that the rolls do not deform) equals: Roll Strip Strip Diameter, Width, Thickness, In. In. In. Pounds 10 10 0.100 380,000 20 20 0.100 1,080,000 30 36 0.100 2,375,000 42 50 0.100 3,900,000 These figures are approximate, but you will note that in increasing the width five times, or 50 in., the total pressure between the rolls increased approximately ten times. In other words, the pressure per inch of width increased from 38,000 to 78,000 lb. for the same per-centage of reduction.

Jan 3, 1928

By R. P. Agarwala, M. S. Anand

Using residual activity technique, the diffusion of palladium, silver, cadmium, indium, and tin in alunzinum has been studied in the temperature range of 400" to 630°C. The diffusivities (in units of square centimeters per second) have been expressed as: IMPURITY diffusion in aluminum,1-9 silverand lead5 for cases of low solid solubility of the impurity in the host metal has yielded frequency factors in the range of l0-6 to l0-9 sq cm per sec whereas the activation energy is practically half the self-diffusion activation energy value. From the observed values of frequency factor, activation energy, and entropy of activation, it has been suggested' that these solutes are not diffusing by vacancy or interstitial mechanisms but by a mechanism which should be consistent with such low values of the diffusion parameters (Do and Q). However in spite of extensive work on these types of systems, the mechanism of diffusion is still not well understood. The present investigation on the diffusion of palladium, silver, cadmium, indium, and tin in aluminum has been carried out to throw further light on the diffusion mechanism in systems, where the solid solubility is very low (except for the case of silver). The results are discussed on the basis of solid solubility and the structural changes involved owing to the presence of the solutes in aluminum solid solution. An attempt has also been made to apply the existing theories of charge5-8 and size8 difference between the solute and the solvent. EXPERIMENTAL PROCEDURE Specimens (1/2 in. diam by 3/8 in. high) were machined out of pure aluminum (99.995 wt pct) rod obtained from Johnson Mattheys. They were sealed under vacuum in quartz tubes and annealed at 620° C for several hours; the grains thus developed were sufficiently large to eliminate the possibility of diffusion along the grain boundaries. The flat ends were prepared carefully after polishing as described previously,10 Radioactive nitrates of cadmium, indium, and tin and chloride of palladium containing, respectively, cd115, 1n114, sn113, and pd103 were dissolved in distilled water and mixed with 30 pct acetone. By means of a micropipet a drop of this solution was placed on a smoothly polished and lightly etched surface of the specimen. Due care was taken to see that the solution spread uniformly on the surface of specimen without trickling down its sides. Radioactive silver was elec-trodeposited using a AgCN-KCN bath. The amount of sample deposited in all the cases was not more than 0.1 µ thick. The samples were then sealed in quartz tubes in vacuum. The cadmium samples were sealed in a purified argon atmosphere to avoid evaporation. The samples were then diffusion-annealed. The temperature of annealing varied between 400° and 630°C and was controlled to ±5°C. On heating to -400°C,the deposits of cadmium, indium, and tin, which were of the order of 0.1 p in thickness, were converted to their respective oxides. The contribution of oxygen present in the lattice of aluminum due to these oxides has been calculated and found to be less than 10 ppm in all cases. Oxide method has already been used by other workers11'12 in diffusion studies without any controversy on the issue. However, in some of these investigations, metallic deposition was also tried. The diffusivities calculated from these measurements were found to agree very well with the diffusivities obtained by using the oxide method. Thus it is assumed that the measured diffusivities represent true diffusion coefficients. Since palladous chloride decomposes at about 500°C, the deposited samples which were to be diffusion-annealed below 500°C were heated in vacuum for a very short time at 500°C to allow the decomposition of palladous chloride to palladium metal. Time taken in decomposition of nitrates to oxides and chloride to metal was negligibly small as compared to the period of the diffusion anneals. The residual activity technique13 was used to study the diffusion profiles where thin layers from the specimen surface were removed by grinding it parallel to a flat surface on a 600-grade carborundum paper. The specimen was washed, dried, and weighed, the differ -ence of the weight being the measure of the thickness of the layer removed. After each such abrasion and weighing, the total residual activity on the surface of the specimens was measured by counting 0.656, 0.94,

Jan 1, 1968

The following rules, upon approval by the Board of Directors, shall serve as guides in the practical applications of the Bylaws for the operation of the Institute and have the full power and effect of Bylaws, however, these rules may be changed, modified, re¬pealed or amended when deemed necessary by the Board of Directors Any change or alteration of these Rules shall be published in the Journals of the Institute within three months after such alteration is adopted ARTICLE I-ORGANIZATIONS OF THE INSTITUTE Section 1-Societies Rule 1-Governing Body Each Society shall form its own governing body composed of an Executive Committee, or similarly designated executive body, duly elected officers, and a Nominating Committee for the nomination of Institute officers as provided by the Bylaws of AIME and of each Society approved by the Board In all correspondence and printed matter the Society Boards of Directors shall be specifically identified For ex¬ample, the Mining Board of Directors or the Board of Directors of the Society of Mining Engineers Using simply the "Board of Directors" could cause confusion

Jan 1, 1960

PRESIDENT GEORGE OTIS SMITH, District 4 WASHINGTON, D. C. PAST PRESIDENTS SAMUEL A. TAYLOR, District 3 PITTSBURGH, PA. E. DEGOLYER District 0 NEW YORK, N. Y. FIRST VICE-PRESIDENT W. H. BASSETT District 1 WATERBURY, CONN. TREASURER KARL FILERS NEW YORK, N. Y.¬ SECRETARY H. FOSTER BAIN NEW YORK, N. Y.

Jan 1, 1923

By W. S. Reid

In March, 1938, E. P. Fleming, metallurgist for the American Smelting and Refining Co. inaugurated an investigation into the possibilities of recirculating the gases from Dwight-Lloyd sintering machines operating on lead charge, with the twofold object of concentration of the SO2 content and reduction in volume of total gas produced. The possibility of recovering a commercial grade of SO2 gas from D & L machines operating on lead charge had previously been considered by several investigators. Early History of Recirculation The Selby Smelter Commission Report, published by the Bureau of Mines in 1914, contains a chapter by A. E. Wells regarding results obtained at Selby, wherein some of the richer gas was recirculated through a hood over the pallets. Oldright and Miller of the U. S. Bureau of Mines had also made tests at Trail, B.C., and at Kellogg, Idaho. R. C. Rutherford, while at the Chihuahua, Mexico, Smelter of the American Smelting and Refining Co., in May, 1937, proposed recirculation of D & L gases to decrease the volume of gas handled by the baghouse. At none of these plants, however, was the operation commercialized. In July, 1938, Mr. Fleming, in correspondence with the Selby Plant, inquired regarding the possibility of obtaining 6 pct SO2 gas from the Selby D & L machines. At that time, the writer advised that there was slight possibility of obtaining 6 pct SO2 gas without re- circulation, but believed that it was possible with recirculation, and that experimental work toward that end should be tried at some plant where spare D & L machines were available. The foregoing statement was based on the following information then available— 1. Tests on Selby first-over machines showed 2.28 pct SO2 from first windbox and 1.03 pct SO2 from second windbox, and corresponding figures for second-over charge of 0.81 pct SO2 for first windbox and 0.08 pct SO2 for second windbox. 2. Oldright and Miller (US. Bureau of Mines) in 1932 at Bunker Hill, on 42 in. X 22 ft machines found: a. First-over charge—Maximum SO2 concentration (leaving cake) of 9.5 pct. b. First-over charge—SO2 concentration of over 8 pct from the 4 ft to the 12 ft points beyond the front dead-plate and that the concentration then dropped rapidly. c. That approximately 80 pct of the total sulphur eliminated on the second-over machines occurred during the travel of the pallets from the 1 ft to the 6 ft distances from the dead-plate. d. That approximately 94 pct of the total sulphur eliminated on the second-over machines occurred over the first windox. 3. Oldright and Miller (US. Bureau of Mines) in 1932, at Trail, on 42 in. X 50 ft machines found: a. First-over charge—SO2 varied from 2.0 pct to 5.5 pct (leaving cake) from the 12 ft to 28 ft points from the deadplate. b. That the average SO2 increased from 1.0 pct at 7 ft from dead-plate to maximum of 3.3 pct at 20 ft, then dropped to 1.5 pct at 40 ft. c. That on a 22 ft, second-over machine with an 11 in. bed the SO2 varied from 4.5 pct to 6.5 pct from the 2 ft to the 8 ft points from the dead-plate. d. That on the final roast, the SO2 concentration also varied across the pallets; that is, 2 1/2 pct at the side, increasing to 6.0 pct, 5 in. in, and to 7.0 pct at 10 in. to 20 in. in, then decreased vice versa at the opposite side. e. Concluded that most of the sulphur on a 22 ft machine was removed over the first 7 ft of the first windbox; therefore, they partitioned the first windbox so that the exit gas from the second 4 ft section was returned to the surface of the pallets over the fist 7 ft section, and during a seven-day trial the gas from the 4 ft section averaged 2.4 pct SO2, while the recirculated gas from the first 7 ft section only increased to 3.8 pct SO2. (Excess suction over the 7 ft section to prevent escape of SO2 laden gas from the 4 ft section caused dilution by air.)

Jan 1, 1950

Mar. 3-7, ASTM, spring meeting and commitee week, Hotel Statler, Cleveland. Mar. 4, AIME, Morenci Sub-Section, Longfellow Inn, Morenci, Ariz. Mar. 5, AIME, Chicago Section, Ladies Night, Chicago. Mar. 10-13, National Electrical Mfrs. Assn., spring meeting, Chicago. Mar. 10-14, National Assn. of Corrosion En-Engineers, annual convention, Galveston. Mar. 11, Society for Applied Spectroscopy, 6 pm, supper, Tosca's; S pro, meeting, Socony-Vacuum Training Center, 63 Park Row, New York. Mar. 16-19, American Institute of. Chemical Engineers, Atlanta Biltmore Hotel, Atlanta. 'Mar. 17-21, ASTE, annual meeting, Chicago. Mar. 20, AIME, Philadelphia Section, Engineering Bldg., University of Pennsylvania, Philadelphia. Mar. 22-Apr. 6, Chicago International Trade Fair, Navy Pier, Chicago. Apr. 1, Society for Applied Spectroscopy, Socony-Vacuum Training Center, 63 Park Row, New York.

Jan 1, 1952

By Henry H. Angst

Tim history and efficiency of 40-ton capacity dump trucks for surface waste removal at the New Cornelia opencut copper mine, at Ajo, Ariz., are summed up in this paper. Tabulations of truck performance, together with detailed cost figures, prove the value of truck transportation for certain special operations at a large mine. Emphasis is given to the fact that truck transportation not only reduces the haulage costs but also reduces the breaking ground and shovel-loading costs per ton. The New Cornelia opencut copper mine is in the desert. The climate is ideal for seven months of the year, but the five summer months are uncomfortably hot. The elevation is 1820 ft. above sea level and the annual rainfall is approximately 6 inches. The ore body is a monzonite-porphyry deposit. The waste-rock capping consists of hard rhyolite, conglomerate and porphyry. All the material is hard and cannot be excavated without blasting. The rhyolite and conglomerate waste is very blocky. The weight of the rock in place is 2.16 tons per cubic yard. The average mine production per day is 22,000 tons of ore and 18,000 tons of waste rock, the latter consisting of surface rock and material within the ore body too low in grade to send to the concentrator. The rock is loaded by electric shovels with 4 1/2-cu. yd. dippers. The primary transportation of ore to the concentrator and waste to the dumps is by 30-yd. dump cars and oil-burning steam locomotives; therefore truck haulage of waste is a minor factor of the New Cornelia operation. However, as New Cornelia was one of the first mines to use large-capacity dump trucks for haulage, the results obtained are of interest. EQUIPMENT On the south side of the New Cornelia is a hill rising about 500 ft. above the normal surface elevation, roughly 1000 ft. in diameter at its base, called locally Arkansas Mountain peak. Exploratory drilling in this area developed additional ore that could be made accessible for open pit operation only by moving the mountain face a maximum distance of 400 ft. to the south. The slope of the mountain adjacent to the pit averaged 35°, and the small area involved precluded the use of train haulage for the removal of the 4,000,000 tons of waste estimated above the normal pit elevation. A study of dump-truck haulage at Boulder Dam and San Gabriel Dam led to the decision to use large-capacity end-dump trucks rather than smaller trucks, for the following reasons: I. The truck would have to withstand the impact of hard, heavy chunks, some of them weighing as much as 10 tons, which would be dumped from the 4 ½ -cu, yd. dipper. 2. The coarse, rocky, abrasive material would soon damage a light truck body. 3. The body of a small truck could not be efficiently loaded with coarse rock.

Jan 1, 1941

By P. C. J. Gallagher

A number of recmt determinations for the ratio of extrinsic to intrinsic stacking fault energy in fcc solid solutions are examined. Some of these arise from incomplete analyses which can yield only approxi?nate values for the ratio. Reliable results, on the other hand, obtained using extrinsic-intrinsic fault pairs, show that the extrinsic and intrinsic fault energies are essentially equal in several materials. There is some reason to believe that this finding is of general applicability to fcc elements and alloys. A wide range of values has been obtained for the relative magnitudes of the extrinsic and intrinsic stacking fault energies (yext and yint, respectively) in recently published studies in a variety of materials. In contrast, Hirth and Lothe' using a central force model have shown that out to tenth nearest-neighbor interactions the perturbation in energy caused by both types of fault is the same. Although the model used is not completely valid in metals, there is nevertheless some indication that marked variations of yext/nnt should not be observed from one material to another. In early work in Cu-A1, Cu-Ge, Ni-Co, and stainless steel all the deformation faults observed in the electron microscope were found to be intrinsic in nature, which led to an attitude that the extrinsic fault energy must be considerably greater than the intrinsic. Extrinsic faulting arising from deformation has, however, more recently been directly observed in Au-4.8 at. pct n;~ Ag-6 at. pct Sn and Ag-8 at. pct sn; Ag-7.5 at. pct In and Ag-11.8 at. pct 1n;"' pure silwer and Ag-0.5 at. pct ~n;' and Cu-22 at. pct Zn, Cu-30 at. pct Zn, and Cu-7.5 at. pct ~1.l' Multilayer loops containing extrinsic faulting have also been observed in quenched aluminum." While peak asymmetries in X-ray faulting probability studies were generally attributed to the presence of twins,Lelel2 has recently reinterpreted earlier X-ray data in Ag-Sb alloysU in terms of the presence of extrinsic faulting. The determinations of yeXt/yint made from the above studies are shown in Table I, with a brief description of the techniques employed. A number of the methods utilized are deficient in one or more respects, and the reliability of the values listed will be discussed. ~ele'~ recognizes that his approximate determinations of yext/yint assumes equal numbers of extrin-sically and intrinsically faulted dislocations. It is well-known, however, that such an assumption is not at all justified since extrinsic faulting has but rarely been observed in samples studied in the electron microscope. The only conclusion that should be drawn from the X-ray results at present is that the total intrinsic scattering cross section (i.e., the product of the width of the intrinsically faulted dislocations with their density) is approximately ten times greater than for extrinsic faulting in these particular samples. An important point is that the relative magnitudes of the energies cannot be inferred from results of this type, unless the intrinsic and extrinsic faults form with equal ease. One must recognize that, although a formation barrier may restrict the amount of extrinsic faulting which occurs, this in no way implies that the extrinsic and intrinsic energies should be different. It is unlikely that a worthwhile estimate of the relative densities of extrinsically and intrinsically faulted dislocations can be made at the high deformations present in X-ray samples. ~oretto,'~ from a statistical argument applied to the nonobservation of extrinsically faulted tetrahedra out of a large sample, concluded that yeXt/yint could not be less than -4.5. However, the present author feels that a high-energy formation barrier as just supposed also explains this finding satisfactorily and that no conclusion can possibly be drawn concerning the actual extrinsic stacking fault energy. The same argument also serves to explain the fact that extrinsic faulting has been relatively little observed in the electron microscope. Extrinsic-intrinsic node pairs and isolated extrinsic nodes were first reported by Loretto~ and subsequently by Ives and Ruff,' Gallaher,' and Gallagher and Wash-burn.' Ives and Ruff' found a wide spread in the ratio of extrinsically to intrinsically faulted area in the node pairs they observed, and drew the very tentative conclusion that yeXt/yint 2 2. They recognized that a straightforward comparison of the size of the faulted areas could provide no more than a qualitative result without a theoretical analysis of the dislocation geometry associated with extrinsic faulting. A theoretical

Jan 1, 1969

By E. J. Hammer

Crushing and grinding of gypsum demands con- trolled processing to a fineness suitable for further treatment of the mineral into end products, and into various sizes of material which are themselves saleable products. The majority of gypsum tonnage ultimately ends up in stucco for wallboard. Therefore, mineral reduction is normally designed toward this end, but it is done in a manner that permits drawing off intermediate products to meet various customer requirements. This forces companies into compromises at times in equipment installations. Normally, 5 to 6 different sizes intermediate to the end product are marketed and these are generally the fineness of material to be used as stucco for wallboard. These sizes are produced by controlled crushing, grinding and sizing. How Ore Characteristics Guide Processing First, gypsum as a mineral (CaS0;2H,O) is number two on the Mohs scale two of hardness; only talc is softer, Despite being soft, gypsum is tough, a factor which is of critical importance when developing equipment specifications. In addition, of the increasing volumes of rock handled, the associated and included impurities such as anhydrite, silica or lime- stones are found to be relatively abrasive.

Jan 1, 1970

By Harry H. Angst

THE history and efficiency of 40-ton capacity dump trucks for surface waste removal at the New Cornelia opencut copper mine, at Ajo, Ariz., are summed up in this paper. Tabulations of truck performance, together with detailed cost figures, prove the value of truck transportation for certain special operations at a large mine. Emphasis is given to the fact that truck transportation not only reduces the haulage costs but also reduces the breaking ground and shovel-loading costs per ton. The New Cornelia opencut copper mine is in the desert. The climate is ideal for seven months of the year, but the five summer months are uncomfortably hot. The elevation is 1820 ft. above sea level and the annual rainfall is approximately 6 inches. The ore body is a monzonite-porphyry deposit. The waste-rock capping consists of hard rhyolite, conglomerate and porphyry. All the material is hard and cannot be excavated without blasting. The rhyolite and conglomerate waste is very blocky. The weight of the rock in place is 2.16 tons per cubic yard. The average mine production per day is 22,000 tons of ore and 18,000 tons of waste rock, the latter consisting of surface rock and material within the ore body too low in grade to send to the concentrator. The rock is loaded by electric shovels with 4 ½ -cu. yd. dippers. The primary transportation of ore to the concentrator and waste to the dumps is by 30-yd. dump cars and oil-burning steam locomotives; therefore truck haulage of waste is a minor factor of the New Cornelia operation. However, as New Cornelia was one of the first mines to use large-capacity dump trucks for haulage, the results obtained are of interest. EQUIPMENT On the south side of the New Cornelia is a hill rising about 500 ft. above the normal surface elevation, roughly 1000 ft. in diameter at its base, called locally Arkansas Mountain peak. Exploratory drilling in this area developed additional ore that could be made accessible for open pit operation only by moving the mountain face a maximum distance of 400 ft. to the south. The slope of the mountain adjacent to the pit averaged 35°, and the small area involved precluded the use of train haulage for the removal of the 4,000,000 tons of waste estimated above the normal pit elevation. A study of dump-truck haulage at Boulder Dam and San Gabriel Dam led to the decision to use large-capacity end-dump trucks rather than smaller trucks, for the following reasons: 1. The truck would have to withstand the impact of hard, heavy chunks, some of them weighing as much as 10 tons, which would be dumped from the 4 ½ -cu. yd. dipper. 2. The coarse, rocky, abrasive material would soon damage a light truck body. 3. The body of a small truck could not be efficiently loaded with coarse rock.

Jan 1, 1941

RECENTLY, we were asked to name the greatest contribution to progress in mining technology during the past 25 years. Immediately, the introduction of the pneumatic hammer for making blastholes came to mind because it can be credited with speeding the excavation of rock and the elimination of hand drilling. Possibly this answer was so spontaneous because we were working on this "drilling issue" Of MINING ENGINEERING. Present drilling tools have devel¬oped so rapidly, that a great deal of engineering is. required in the selection of bits, steel, and machines for the drilling conditions at each mine. Formerly a modicum of engineering was utilized in selection of equipment for it was purchased from manufacturer preference. With the development of alloy drill steels, tungsten-carbide bits, throwaway bits, and the jackleg drill, mining companies began doing more experimental work before making selections. It is unfortunately true, that each operator must begin at the beginning by doing his own test work before choosing his drilling method, and tools. Some of this work has been done very well-under controlled conditions and obtaining proper data on the variables. Such data should be accumulated from the various mines, tabulated, and published. Such a volume would be of tremendous help to the small operator in selecting equipment and would permit the research departments of the larger companies to formulate some measure of rock drillability and to undertake more specialized research on the different phases of drilling.

Jan 1, 1952

By Richard M. Foose

WOULD you like to find a large new ore deposit next year? The answer is as obvious as the question is foolish. But perhaps the question does have some merit if we alter it slightly and ask: What are you doing about finding new ore? This one is more difficult to answer. Possibly you are doing nothing about finding new ore because you have proved reserves for many future years of production. Others may be investing some small percentage of time, effort, and money in mineral exploration, and reserves may be currently adequate, or inadequate, in terms of many future productive years. Still others may be engaged in large-scale mineral exploration programs involving large expenditures of time, personnel effort, and money. In whatever category you may be, a final question might well be asked. Is your current mineral exploration program, or lack of program, consistent with the long-range needs and objectives of your organization and of the mining industry as a whole, and is it designed to stimulate the growth of the industry in future years, or is it only a short-range program in response to some current situation?

Jan 3, 1958

By Frank C. Greene

The year 1941 was uneventful in oil and gas development in Missouri. No new pools were opened and several areas with promising structures, in the northwestern part of the state, were disappointing when drilled. In looking for an explanation of these failures, it is suggested that it will be necessary to find areas in which the lower beds of the Mississippian are upfolded, in order to obtain production in northwestern Missouri. To do this, geophysical exploration or test drilling far enough into the Mississippian beds to get cores or cuttings of definitely established age appear to be the best methods. Although not leading to new production, drilling in Missouri established two new state records, one for depth and another for the amount of rotary drilling. An important well† in sec. 24, T. 19 N., R. 11 E., Pemiscot County, in the southeastern corner of the state, was drilled with a rotary to 4740 ft., several hundred feet deeper than any previous hole. The total footage drilled by rotary rigs of various types was 31,135 ft. and that by cable tools, 29,166 feet. The total number of completions was 85, of which 18 were gas wells with an initial open-flow capacity of 12,528,000 cu. ft., and 67 were dry holes. Of the latter, 19 were drilled into Mississippian or older formations. Table I gives a summary of activities by counties.

Jan 1, 1942

By Frank C. Greene

The year 1941 was uneventful in oil and gas development in Missouri. No new pools were opened and several areas with promising structures, in the northwestern part of the state, were disappointing when drilled. In looking for an explanation of these failures, it is suggested that it will be necessary to find areas in which the lower beds of the Mississippian are upfolded, in order to obtain production in northwestern Missouri. To do this, geophysical exploration or test drilling far enough into the Mississippian beds to get cores or cuttings of definitely established age appear to be the best methods. Although not leading to new production, drilling in Missouri established two new state records, one for depth and another for the amount of rotary drilling. An important well† in sec. 24, T. 19 N., R. 11 E., Pemiscot County, in the southeastern corner of the state, was drilled with a rotary to 4740 ft., several hundred feet deeper than any previous hole. The total footage drilled by rotary rigs of various types was 31,135 ft. and that by cable tools, 29,166 feet. The total number of completions was 85, of which 18 were gas wells with an initial open-flow capacity of 12,528,000 cu. ft., and 67 were dry holes. Of the latter, 19 were drilled into Mississippian or older formations. Table I gives a summary of activities by counties.

Jan 1, 1942

By James H. Boettcher

INTRODUCTION There are many and varied sources of finance available to the mining industry for exploration, development and/or the operation of mining projects and companies. These sources include equity from major as well as "penny" stock exchanges, precious metal mutual funds, private investor groups (from "grubstakes" to tax-oriented limited partnerships) and banks. The variety is representative of the fact that the world's capital markets are segmented and stratified according to risk-reward characteristics. This interrelationship is summarized in Exhibit I and 2 which relate (very approximately) various sources of finance to a typical mining project's life cycle and risk-return characteristics. The objective of this paper is to introduce, as it applies to the mining industry, a somewhat recent phenomenon represented by one of these capital markets segments referred to as "venture capital." Venture capital investing per se, which today is a multibillion dollars per annum investment business, goes back as far as Queen Isabela's backing of Columbus' "wild ideas." The real institutionalization of the venture capital process really began in earnest, however, after World War II. Today over 700 private venture capital sources (and more government related ones) exist providing funding to a range of industries, but typically related to the "high-tech" business. The table to the right shows industries financed by venture capital funds between 1980 and 1982. Conspicuous by its absence is, of course, mining which is not a great surprise since typical mining projects up until recently were large, required long lead times and were undertaken by established mining houses. Also, as most of you can appreciate, successful investing in the mining business requires a great deal of experience and understanding of the industry which most venture capital funds do not have. TARGETED RETURN The rate of return objective of most venture capital funds is, according to the legalized version, to realize a return which is "substantially in excess of that obtainable through conventional equity investments." One may say that a common objective of venture capital funds is to realize a 20% to 30% compound annual internal rate of return on capital over their life which is often ten years. [ ] This objective has been recently more feasible in the mining sector due to the development of smaller precious metal projects which cost less and are quicker to generate cash flow than the behemoth projects of the 1970s. In addition to precious metals, venture capitalists have invested or looked at a variety of other mining projects including ones as prosaic as a high margin "kitty litter" operation, sand-gravel and other industrial minerals operations, the leveraged buyouts of coal mines or mineral divisions of major energy or mining corporations, and even in in-situ copper or gold leaching ventures. A typical investment is in the range of $100,000 to $3,000,000 although some can go as high as 5,000,000. This implies a project size up to, say, 30,000,000 if a venture capital fund does it on its own. Larger projects can be done if the equity portion of the investment is syndicated with other investors.

Jan 1, 1985

By R. E. Reed, C. J. McHargue

Single crystals of aluminurn were reduced 90 pct in diameter by extrusion at 296" and 77°K. The resultant double fiber texture had a strong (111) component with a weak (001) component. The relative anzounts of these components varied with starting orientation. Decreasing the Lemperatuve of defovtnation increased the amount of (001) texture component in crystals with inilia1 orientations near (111). The starting orientation and temperature of deformation strongly affected the morphology of the (001) component. The effects of orientation and Lemperatuve upon the distribution of the (001 ) texture component in extruded aluminum single crystals were rationalized on the basis of deformation band formation and interaction. MANY papers since the early 1920s have discussed the occurrence of the double fiber texture (111) + (001) in wires and rods of deformed fcc metals. Aside from the reporting of experimental results for the various metals under a variety of fabrication conditions, emphasis has been placed on two related problems. One problem deals with the prediction of ideal end orientations based on the glide systems and flow directions. The other problem seeks the reason why different amounts of each component may be produced by the same fabrication schedule for metals apparently having the same deformation systems. Some of the difficulties in developing a satisfactory explanation have their origin in the experiments themselves. One mistake has often been the assumption of an initially randomly oriented specimen or complete ignorance of effects of starting orientation. Recent studies by Grewen and Wassermann,1 Cullity and co-workers,2' and McHargue4 have shown that the initial orientation may be the most important factor in determining the final orientation. Hence only limited comparisons of data from different studies can be made unless all conditions of the initial material are specified. Another question has been the nature of the (001) component. Hibbards suggested that any (001) present was the result of re crystallization during fabrication. Although Fleischer6 found no (001) texture in aluminum swaged at room temperature, and Dayal 7 found that component to disappear at very high reductions, a double fiber texture has usually been reported for aluminum. Vandermeer and McHargue showed that, while some (001) in aluminum may be the result of recrystallization, much of this component has its origin in the deformation process. Ahlborn and Wassermanng found the (001) component in silver deformed at low temperature not to be the product of recrystallization.

Jan 1, 1968

By Alfred E. Hunt

The application of the color-method for the estimation of manganese in iron and steel, based upon the depth of the characteristic purple color of permanganic acid, was first made in this country, the writer thinks, by one of the members of the American Institute of Mining Engineers, Mr. Samuel Peters, in 1874, at the laboratory of the Bay State Iron Company, and was published by him in the Chemical News. The method is credited to him in the new edition of Crooke's Select Methods. The principle of oxidizing manganese with peroxide of lead, or other oxidizing agents, and determining the amount of manganese from the color of the purple permanganic

Jan 1, 1887

Since this paper was written, some changes have taken place, materially reducing the cost of iron-making as estimated in the text. These are chiefly reductions in the prices of ore and fuel. The charcoal used is now made in bee-hive ovens, and the price is con-

Jan 1, 1895

By AIME AIME

COUNCIL.* PRESIDENT OF THE COUNCIL. JAMES F. KEMP : NEW YORK, N. Y. (Term expires February, 1913.) VICE-PRESIDENTS OF THE COUNCIL. S. B. CHRISTY BERKELEY, CAL. W. A. LATHROP PHILADELPHIA, PA. GARDNER F. WILLIAMS WASHINGTON, D. C. (Term expires February, 1913.) KARL EILERS NEW YORK, N. Y. WALDEMAR LINDGREN WASHINGTON, D. C. BENJAMIN B. THAYER NEW YORK, N. Y. (Term expires February, 1914.)

Apr 1, 1912

By AIME AIME

Council. * PRESIDENT OF THE COUNCIL. JAMES F. KEMP NEW YORK, N.Y. (Term expires February, 1913.) VICE-PRESIDENTS OF THE COUNCIL. S. B. CHRISTY BERKELEY, CAL. W. A. LATHROP PHILADELPHIA, PA. GARDNER F. WILLIAMS WASHINGTON, D. C. (Term expires February, 1913.) KARL EILERS NEW YORK, N. Y. WALDEMAR LINDGREN WASHINGTON, D. C. BENJAMIN B. THAYER NEW YORK, N. Y. (Term expires February, 1914.)

Mar 1, 1912