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By A. T. Yu

As the first year of full-scale shiploading operations nears completion, Chile's twin ports of Chafiaral and Caldera have proved instrumental in promoting the growth of that nation's iron ore industry. Located on the Iron Coast several hundred miles below Antofagasta, the two ports boast of new conveyor shiploading facilities uniquely adapted to their coastal environment. Until recently, iron ore producers in this region of Chile have been hampered by antiquated methods of loading crushed ore on ships for transportation to foreign buyers. Use of the "truck-to-lighter- to-ship" method, which dominated heretofore, was too slow and costly to permit expansion of productive mines and exploitation of new high-grade discoveries to meet the growing world demand for such ore.

Jan 8, 1960

By C. H. Stein

THE Pennsylvania Legislature, on March 13, 1837, passed an act authorizing the Lehigh Coal & Navigation Co. to construct a railway to connect the North Branch Division of the Pennsylvania Canal with the slack water navigation f the Lehigh River; the navigation company accepted this act on May 10, 1837. Edwin A. Douglas, chief engineer for the navigation company, located the route for this railway from White Haven to Wilkes-Barre, which was called the Lehigh & Susquehanna Railroad. The object was to transport coal from the Wyoming Valley, of Pennsylvania, to the Atlantic seaboard. This railway was considered a marvelous piece of engineering, as it included a tunnel nearly 13 mi. long, and a series of inclines, or planes, up which the cars laden with coal were raised from the vicinity of Ashley to the summit f the mountain near Solomon's Gap, whence they were taken to White Haven by rail. There the coal was transferred to canal boats. In June, 1862, floods almost completely destroyed the upper division of the canal, so on March 4, 1863, the Pennsylvania Legislature passed an act prohibiting its restoration, but granted a charter for the construction of a railway from White Haven to Mauch Chunk to connect with the line from White Haven to Wilkes-Barre, previously built. On March 16, 1864, a supplementary act was passed extending the Lehigh & Susquehanna Railroad to Easton, Pa. This completed a direct all-rail route from Wilkes-Barre to the New York harbor (by way of the Central Railroad of New Jersey). Up to this time, all freight and passenger traffic passed over the planes, but in 1866 and 1867 there was constructed what was known as the "back track" down the mountain side between Solomon's Gap and Ashley over which all the passenger traffic and empty cars thereafter passed; it is now known as part of the main line. For the handling of the heavy coal traffic, however, this would have involved a continuous climb from Ashley, 170.27 mi., from New York, to Solomon's Gap, 157.8 mi. from New York, or a distance of 12.47 mi., and a total ascent of 1,013.75

Jan 9, 1921

By John D. Erickson

The concepts of long-range, open pit planning presented here are not new. The new idea is how the factors that control the location of the final pit limits can be considered altogether as one large, simultaneous equation. The X, or unknown quantity that is being solved for, is a long-range pit design that fulfills the desired objectives. The objectives of a final pit plan are determination of the extent and location of ore reserves, the allowable stripping necessary to uncover the ore, the final pit surface intercept, final pit topography and the contained metal values in both ore and waste.

Jan 4, 1968

By Charles M. Cooley

In these troubled times free enterprise is maintaining vital molybdenum output, while expanding plant, and bringing in new low grade ore reserves, at Climax, the world's largest known molybdenum deposit. Climax Molybdenum Co. is putting $25 million into additional surface plant facilities and other millions into underground development. The expansion program to be operating by 1954 includes a new mining level, crushing plant, 4000-ft conveyor, milling units, by-products plant, and housing for 198 families. Completion of this program and low grade plant will add 10,000 tons per day to present capacity and several million tons to ore reserves.

Jan 1, 1953

By H. Hance James

SOME of the outstanding features of petroleum production in Illinois during 1923 were: (1) Sustained production from the older wells, due to cleaning and deepening; (2) good results from new drilling in a few localities; (3) large percentage of dry holes, many of which were ill advised tests, with a resulting high cost of the new production; (4) decrease in the number of productive wells in the state; (5) low average price of crude petroleum, a serious factor over the entire country. FIG. 1.-ANNUAL TOTALS OF ILLINOIS PRODUCTION. The total production of Illinois for 1923 was 8,710,000 bbl.,1 a decrease of 7.2 per cent. from that of 1922. Of this amount, it is estimated that about 8,500,000 bbl. were produced by old wells, many of which had been cleaned and deepened somewhat, and approximately 210,000 bbl. were obtained from the new wells drilled during the year. About 95 per cent. of the oil comes from the southeastern field in Clark, Crawford, and Lawrence Counties, where production is almost entirely from Pennsylvanian and Mississippian rocks. Extensions of the productive area were made in Clark, Wabash, Marion, and Jackson Counties. Some important gas development has been accomplished near Jacksonville, in Morgan County, and at Gillespie, in Macoupin County.

Jan 3, 1924

The following is an incomplete list of members and guests who called at Institute headquarters during the period May 10, 1919, to June 10, 1919. Victor C. Alderson, Golden, Colo. E. Fleming L'Engle, Joplin, Mo. H. Foster Bain, Washington, D. C. W. D. Mainwaring, Philadelphia, Pa. J. J. Beeson, Master Engr. Sr. Gr. W. G. Matteson, Fort Worth, Tex. Gunnar Bergstrom, Stockholm, Sweden. C. E. MacDonald, Toronto, Can. Corry T. Brown, Socorro, N. Met. Francis Nicholson, Charlotte, Va. Geo. W. Brymer, Scranton, Pa. Richard A. Parker, Denver, Colo. W. Burns, Santa Fe, N. Mex. S. B. Patteson, Jr., Allentown, Pa. H. C. Carlisle, The Pas, Manitoba, Can. G. W. Ponton, Ottawa, Canada. J. Carson Adkerson, Va. W. H. Reber, Ensign, Dallas, Tex. C. A. Cheney, Madison, Wis. T. C. Roberts, New York City. J. M. Clark, Toronto, Canada W. A. Rukeyser, Ensign, N. F. Corps. John J. Doyle, St. Louis, Mo. W. H. Staver, New York City. H. S. Emlaw, Grand Haven, Mich. D. B. Sterrett, Washington, D. C. E. Francis, Birmingham, Ala. T. V. Smirnoff, Russia. Rudolf Gahl, Denver, Colo. E. C. Templeton, New York City. Emit Gthmann, Baltimore, Md. H. A. Toblemann, Ajo, Ariz. A. B. Hardie, Philadelphia, Pa. Priestley Toulmin, Birmingham, Ala. Clarence M. Haight, Franklin, N. J. M. R. Walker, Baltimore, Md. N. V. Hansell, New York City. H. A. Wheeler, St. Louis, Mo. C. A. Heberlein, Nacosari, Mexico. D. B. Whitaker, Santiago, Cuba. Pierre Hines, Milwaukee, Wis. A. W. G. Wilson, Ottawa, Can. J. S. Hollings, Brymoba, Wales. Oba Wiser, Hanover, N. Mex C. Vey Holman, Maine. Harry J. Wolf, Denver, Colo. H. H. Howry, Denver, Colo. F. H. Wood, Mt. Vernon, N. Y. W. Spencer Hutchinson, Boston, Mass. J. P. Wood, New York, N. Y. W. B. Kunhardt, Reading, Pa. Lawrence Addicks sailed on May 17 for London; lie expects to be absent from this country for several months. Roy H. Allen has accepted a position in the research engineering department of the National Aniline & Chemical Co., Buffalo, N. Y. H. Foster Bain has gone to Shanghai, China, where he expects to remain for some time. Percy J. Bandy has accepted a position with the Cia. Minera del Mirasol S. A., at Cusihuiriachic, Chihuahua, Mexico. J. H. Batcheller is now with the North Midas Copper Co., St. Helena, Alaska.

Jan 7, 1919

Since its organization, in July, 1917, the War Minerals Committee of the Institute, of which William Y. Westervelt is chairman, has been studying important phases of the mineral industry and its relation to winning the war. From this has come a realization of the imperative need for more definite coordination than is possible without direction by some governmental agency. No privately controlled industry can have the detailed knowledge of war needs or the control of all its supplies and markets necessary to effect the adjustment of its activities for war purposes. Inevitable shortages of certain essential minerals confront us unless immediate steps are taken to stimulate and develop. the mining

Jan 2, 1918

By AIME AIME

Council.* PRESIDENT OF THE COUNCIL. ROBERT W. HUNT CHICAGO, ILL. (Term expires February, 1907.) VICE-PRESIDENTS OF THE COUNCIL. WILLIAM P. BLAKE TUCSON, ARIZ. THOMAS F. COLE DULUTH, MINN. IRVING A. STEARNS WILKES-BARRE, PA. (Term expires February, 1907.) HENRY AL HOWE NEW YORK, N. Y. J. B. GRANT DENVER, COLO. JAMES D. HAGUE NEW YORK, N. Y. (Term expires February, 1909.)

Nov 1, 1906

By AIME AIME

A COMMITTEE of the American Railroad Association, consisting of Samuel Rea, president of the Pennsylvania System, Chairman; F. D. Underwood, president of the Erie Railroad; A. T. Dice, president of the Philadelphia & Reading Railroad; E. J. Pearson, president of the New York, New Haven & Hartford Railroad; and C. H. Markham, president of the Illinois Railroad (who was represented at the meeting by J. F. Porterfield of his system), met at the headquarters of the American Institute of Mining and Metallurgical Engineers, New York, on April 6 to assist in the Coal and Coke Committee's attempt to solve the bituminous coal problem. There was a full discussion of the questions of seasonal freight rates and the purchase by the railroads during the slack months of their winter's supply of coal. As the question of fuel supply for the railroads is in the hands of the Railroad Association, as well as the coal operators, it was vital that it should be represented at this important conference. The situation from the point of view of the mine operators was presented very thoroughly. No seasonal rates were considered necessary for the year 1920, and, as this matter requires considerable thought, it will be given thorough study and worked out in detail at a subsequent meeting.

Jan 1, 1920

By S. W. Miller

DURING the examination of welds made in steel by the oxy-acetylene and electric-arc processes, the writer has met with some unusual structures, which he has not encountered elsewhere. They seem to be quite closely associated with the welding methods used, and characteristic of them, and would seem to be worth noting, especially as the references to them in the literature are few, and their explanation not clear or complete. An introductory word or two about fusion welding may not he out of place. The oxy-acetylene process is based on the great and very local heat generated by the burning of acetylene in the presence of commercially pure oxygen, the two gases being thoroughly mixed before combustion. The theoretical temperature is somewhat under 4000° C., but on account of various losses, the actual maximum temperature is probably about 3000° C. 1 The electric-arc process, using a metal electrode, which is also the filling rod, generates a still higher and more local temperature. The actual temperature of the positive crater of the carbon arc is given as 3500° C.2 No figures have been found for the temperature of the arc using a metal electrode, but it would probably not be very different from that of the carbon arc, and probably higher than that of the oxy-acetylene flame. The greater localization of the electric arc is due to the fact that it is not surrounded by a large envelope flame as well as to its higher temperature; while the oxy-acetylene white cone, or welding flame, in which the carbon of the acetylene is burned to CO, is surrounded and preceded by -a long envelope flame, itself of quite high temperature, in which the CO is burned to C02, and the hydrogen of the acetylene to

Jan 2, 1918

By A. W. Ambrose

The present plans for the Petroleum Division of the American Insti-tute of Mining and Metallurgical Engineers provide for two principal meetings in the year 1928. The first will be at Tulsa, Okla., in September or October, 1928, with the exact date largely dependent upon the date of the .International Petroleum Exposition. The officers wish to hold the meeting at the same time as the Exposition in order that members of the Petroleum Division of the A. I. M. E. may have the advantage of attending both meetings at the same time. It is planned that this meeting will be devoted largely to petroleum production engineering problems. A tentative outline of subjects to be discussed is as follows: 1. Repressuring New Oil Fields, and naturally in conjunction with this falls Repressuring of Old Fields. 2. Air or Gas Lift. 3. Flow Strings in New Wells. 4. Deep Drilling Technique. It is also planned to have at this meeting a general paper relating to Supply and Demand of Petroleum and its Products. The second meeting is planned for February, 1929, in New York at the same time as the annual meeting of the Institute. Special details have not been carried very far on this meeting, although it is expected the program will cover technical problems in relation to production and refining of crude oil, as well as 1928 development in foreign fields and the United States. It is planned during 1928 to cooperate with the Bureau of Mines in an attempt to compile a set of definitions on petroleum engineering. These would be of value to the petroleum engineering profession, in order to better standardize various terms used in discussion of current problems. It has also been suggested that the Petroleum Division study certain problems in which research work is needed by the petroleum industry and outline certain definite programs that could be carried out by the Bureau of Mines and the U. S. Geological Survey, as a follow-up to

Jan 1, 1928

By F. W. Bremmer

THE drilling of constantly deeper oil wells has made it imperative that the manufacturer of casing be ever searching for new methods and new materials to meet the increased demands. One phase of this search constitutes the subject matter of the present paper. Starting from the original Drake well in 1859, the depth of wells has advanced by leaps and bounds, until today depths of 6000 to 8000 ft. are common. Conditions point to the necessity for drilling to greater depths, and it is not at all improbable that much of the future oil produc- FIG. 1.-TREND IN DEPTH OF OIL WELLS. tion will be from, wells around 10,000 ft. deep. The trend to deeper wells is nicely illustrated by the curve in Fig. 1.1 The points plotted are the maximum depths attained in the various pools which were at their peak for the years given. It may be of some interest to observe the change that has taken place in the tensile and collapsing stresses over the last 25 years. The pressure at the bottom of a 900-ft. hole, equivalent to the pressure caused by an equal column of water, is only 450 lb. per sq. in. The equivalent

Jan 1, 1930

NEW MEMBERS. The following list comprises the names of those persons who became members during the month of flay, 1913: Members. BASTIN, EDSON S., Geol U. S. Geological Survey, Washington, D. C BUCHERER, Louis, Cons. Engr Apartado 1471, Mexico City, Mexico. BURDICK, CHARLES A., Min. Engr 74 Broadway, New York, N. Y. CARR, HOMER L., Min. Engr 109 W. 88th St., New York, N. Y. CARTER, RUSSELL S., Mech. Engr. & Asst. Gent Mgr., Ingersoll-Rand Co., 11 Broadway, New York, N. Y.

Jan 6, 1913

By C. M. Marquardt

The minerals industry in general should bow in homage to the uranium milling industry. Those in the uranium milling industry have "spark- plugged" more progress in the application of instrumentation and control in the last 5 years than has been made in 50 years by the industry in general. Part of this real progress in the application of instrumentation and control has been born of necessity because milling processes are more complex. A lot of the impetus for instrumentation and control has come from the fact that the industry is new, the processes are new, and there are no hide-bound conventions to overcome. Part of it comes from the fact that much of processing is more chemical than metallurgical and the thinking of the process chemist has carried over into the plants. One need not elaborate on what instrumentation has done for the process chemical industries. Each new mill that is constructed, if of appreciable size, seems to employ more instrumentation than the previously completed plant. Plant A makes a break-through in the application of instrumentation to a particular part of the process and Plant B accepts this and goes one step farther, while Plant C, anticipating Plant B, makes two or three more steps before Plant B is entirely leveled out.

Jan 9, 1958

1944. Walter Hull Aldridge New York, N. Y. 1946. Peter M Anderson Johannesburg, South Africa 1946. Charles Camsell Ottawa, Ont. Canada 1946. Charles Augustus Carlow Fife, Scotland 1949. Erie Victor Daveler New York, N. Y 1946. Cecil H. Desch London, England 1946. William Fraser London, England 1917. Herbert Hoover New York, N. Y. 1941. Daniel Cowan Jackling San Francisco, Calif. 1939. Henry Krumb New York, N. Y. 1942. Essington Lewis Melbourne, Vic., Australia 1921. C. McDermid London, England 1944. Walter C. Mendenhall Washington, D. C. 1942. Paul Dyer Merica New York, N. Y. 1938. A. M. Portevin Paris, France 1934. T. A. Rickard Victoria, B.C., Canada 1946. John R. Suman Houston, Texas 1946. Wen-Hao Wong Chungking, China

Jan 1, 1952

1944 WALTER HULL ALDRIDGE New York, N Y 1946 PETER M ANDERSON Johannesburg, South Africa 1946 CHARLES CAMSELL Ottawa, Ont, Canada 1946 CHARLES AUGUSTUS CARLOW Fife, Scotland 1949 ERLE V DAVELER New York, N. Y 1951 EVERETTE LEE DEGOLYER Dallas, Texas 1946 CECIL H DESCH London, England 1946 WILLIAM FRASER London, England 1917 HERBERT HOOVER New York, N. Y 1941 DANIEL COWAN JACKLING San Francisco, Calif. 1950 ZAY JEFFRIES Pittsfield, Mass 1939 HENRY KRUMB New York, N Y 1942 ESSINGTON LEWIS Melbourne, Vic, Australia 1944 WALTER C. MENDENHALL Washington, D. C 1942 PAUL DYER MERICA New York, N Y 1938 A M PORTEVIN Paris, France 1934 T A RICKARD Victoria, B C, Canada 1946 JOHN R SUMAN Houston, Texas 1946 WONG WEN-HAO Chungking, China

Jan 1, 1952

By Kenneth L. Clifford, Thomas G. White

Many changes have occurred in lead-zinc milling in the U.S. since the 1970 Lead and Zinc Symposium. New mills have been built, novel flowsheets devised, and the use of process control techniques is increasing. The Missouri concentrators produced in 1976 more lead and zinc concentrate than those in any other state. The Tennessee mills produced nearly as much zinc concentrate in 1976 as Missouri and with some very highly developed flowsheets. Progress in the Western U.S. is centered around new operations in Colorado and Utah. New mills in New York and Missouri incorporate many of the newer control concepts. Most of the older concentrators have undergone flowsheet changes to accomodate different ore types or because of the availability of new and better equipment.

Jan 1, 1977

By Stephen Zorn

INTRODUCTION The process of financing mining projects in developing countries has changed greatly in the past 15 years. New methods of financing, notably the use of syndicated Eurocurrency project loans, have appeared, and direct equity financing by transnational mining corporations has become less significant. These changes are of particular importance to developing countries which have many mineral deposits still awaiting development, or even discovery. If major new mines are to be financed, host governments will need to obtain more sophisticated information than has hitherto been widely available as to the various sources of finance currently available and as to possibilities for innovative approaches to financing, such as the combination of several different kinds of financing in a single package. This paper reviews the major sources of mining finance potentially available to developing countries and highlights those problems in obtaining adequate financing that developing country producers have begun to experience in the last few years and that are likely to persist through the 1980s. Section I surveys the major types of mining finance; section II reviews specific financing problems, including (a) the withdrawal of the transnational corporations from developing countries, (b) inflation and the size of new projects; (c) developing country indebtedness, and (d) competition among projects in different countries. SOURCES OF DEVELOPING COUNTRY MINING CAPITAL1/ There is a wide range of financing mechanisms which are potentially available to developing countries with economically viable mining projects., Moreover, these financing mechanisms have not been fully exploited by developing countries, and more aggressive pursuit of financing by the governments of these countries may well reveal greater possibilities in respect of any particular project than may initially have appeared. However, virtually all the funds available from these sources are available only to projects which meet the standards of viability acceptable to lenders and others in the business community. If a project does not, for example, promise to generate a discounted cash flow rate of return of at least 15 per cent on total funds employed, or if it does not appear likely to generate sufficient cash flow in the early years of production to cover debt service requirements with a comfortable margin in reserve, most of the sources of financing will not be available. Only where a government has its own financial surplus (as in the case, for example, of the industrialization program of the Saudi Arabian government) can it effectively undertake projects which do not satisfy the definition of economic viability that is accepted at any given time by the worldwide financial community. Internal Sources In Developing Countries Internal financing capacity in developing countries is restricted to a relatively small number of countries - typically those large enough to support a well-rounded industrial sector, in which mining is only one of a number of dynamic industries. While there are large mining companies in certain other countries, the ability of such companies to finance new projects (or even, in some cases, to generate the cash necessary to maintain existing levels of production) is highly problematical. Within developing countries, the possible sources of internally-generated mining finance are the following: (1) state-owned enterprises; (2) private capital; (3) the banking system, and in particular those financing agencies that have a special involvement with the mining sector; and (4) direct budgetary appropriations.

Jan 1, 1985

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

"October. This is one of the peculiarly dangerous months to speculate in stocks. The others are July, January, September, April, November, May, March, June, December, August and February." -Mark Twain Although the preceding chapters describe the type of preliminary evaluation frequently performed in the mining industry, it has been assumed that input data are known with certainty-clearly an enormous simplification. In reality, estimates of ore grade, mining cost, metal price, etc., are subject to varying degrees of uncertainty due to the inability to predict the future with much precision. Management would probably not, for example, be equally attracted to two projects each offering a 20% DCFROI-one for a new gold venture in Nevada and the other for an undersea manganese nodule operation in the Pacific. The high risk with the latter investment tells the obvious; there is more to investment decision-making than a deterministic analysis using "best estimates" of input parameters. The science of decision theory normally distinguishes between decisions under uncertainty, where probabilities of various outcomes are unknown; and decisions under risk, where such probabilities can be estimated. The first case is rarely en- countered in practical capital investment analysis in mining, so the remainder of this chapter focuses on that class of problems where rational probability distributions for the future states of input variables can be estimated. RISK IN MINING Risk in the context of this chapter is the unforeseen deviation of individual cash flows from expected values for a capital project. For a mining venture, the source of this uncertainty could be any number of factors relating to such items as ore grade, ore reserve tonnage, operating costs, product prices, etc. With conventional *Adapted from O'Neil, T.J., 1979, "Procedures for the Preliminary Financial Evaluation of Metal Mining Ventures," Computer Methods for the 80s, A. Weiss, ed., AIME, New York, pp. 556-573.

Jan 1, 1984

By L. G. Margolin

INTRODUCTION In this paper we derive an expression to predict the onset of growth of a crack in a quasibrittle material. We employ an energy criterion, which was first proposed by Griffith (1920), and is essentially equivalent to the first two laws of thermodynamics. The criterion is applied to the elastic-plastic crack of Olesiak and Wnuk (1968), which is a three-dimensional generalization of the Dugdale (1960) crack. Our expression for the onset of growth differs in several respects from a criterion based on a crack in a brittle material (i.e., using linear elastic fracture mechanics) . Furthermore, the new features are in qualitative agreement with the experimental data. Among these new features are 1) the dependence of the apparent surface energy, or critical strain energy release rate on crack size (the shape of the R-curve); 2) the effect of in-plane stresses (i.e., the stresses that do not lead to any traction on the crack faces) on crack growth; and 3) a brittle-ductile transition. The energy criterion, as a necessary condition for crack growth, rests on a firm theoretical basis. However, its role as a sufficient condition is less secure. Several alternate criteria have been proposed as necessary and sufficient conditions for the onset of crack growth. We will contrast several of these, including critical strain (Olesiak and Wnuk, 1968; Goodier and Field, 1963) and crack opening displacement ("COD", Burdekin and Stone, 1966) with the energy criterion. We will show that these alternate approaches are inconsistent with the energy criterion, in the sense of being necessary conditions, and so should be rejected as criteria for growth--at least for the elastic-plastic crack.

Jan 1, 1984