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By Alf Holmelid

Until recently the only automatic control of electric parameters in submerged-arc furnaces has been electrode control with electrode current or electrode impendance as controlled variables. Elkem Research and Development Centre has delivered this kind of control for a long time, both stand- alone controllers and control algorithms incorporated in an integrated computer control system. In recent years we have noticed increasing interest in more sophisticated electric control. Results both from pilot-plant experiments and from production furnaces show that proper electric conditions in the furnace are more important to the furnace operation than was assumed earlier. Optimal electric conditions lead to lower power consumption per ton of metal and allow use of cheaper raw materials Besides, power contracts and the market situation lead to more frequent change of load on the furnaces. Therefore it is important to vary the load in a way that allows proper electric conditions to be maintained. Based on this renewed interest in electric control, Elkem Research and Development Centre has carried out a project, starting with analysis of existing electric instrumentation and control algorithms for electrode control, and ending up with an integrated electric control strategy including power-demand control as shown in Figure 1. In this paper we will give a resume of this work and present a new integrated control strategy put into operation for the first time in June 1983. [ ]

Jan 1, 1984

By T. M. Berry

In the past few years changes have taken place in shaft sinking. Progress has been made with types of machinery designed, developed, and made available to shaft sinking contractors. This is particularly true of drilling and mucking equipment. Compared with conventional clamshell loading, mucking or loading with a crawler-mounted overshot loader is a new technique for shaft work. There are several methods of clamshell loading. Dravo Construction Co. mounts an air tugger on the clamshell to operate the closing line. The load, or holding line, is attached to the hoist of a crane or whirler at the shaft collar. The clamshell is raised or lowered by the hoist when a signal is given by a bell or light system operated by men at the bottom of the shaft. Two men control the drift of the clamshell with tag lines, pulling it to any position in the shaft for loading, or over the shaft muck bucket for emptying. One man operates the air tugger to open and close the clamshell by means of two lines attached to the operating air valve, just as reins are used to drive a horse. One man operates the signal telling the hoist operator when to raise or lower the clamshell. This method requires two hoisting lines in the shaft-the line from the mine hoist that lifts

Dec 1, 1956

By E. P. Bucklen

Simulation is a tool useful in the evaluation of the probable effect which various changes may have on the performance of time-dependent systems. This is especially true as far as rail transportation in mining is concerned. The VPI-OCR RAILSIM program is a computer program designed specifically for solving a broad range of problems encountered in the design of haulage systems of new mines as well as in the operation of haulage systems in existing mines. This program is one of several computer applications for evaluating mining systems developed at the Virginia Polytechnic Institute and State University under contract with the Office o f Coal Research of the U.S. Dept. of the Interior. The RAILSIM program uses Monte Carlo techniques to introduce variability in the occurrence of events such as would be observed in real systems. Data are required to describe the haulage network, locomotives, stationary facilities, and other miscellaneous parameters. Output from the program lists measures of performance that are useful in assessing the capabilities and limitations of given system configurations. The output information may cover many shifts of operation to indicate the broad range of variation and interaction which can occur as the system responds to varying levels of demand for service. The RAILSIM program was tested extensively in mining operations. The results of some of these tests are used to illustrate the usefulness of this program.

Jan 1, 1972

By E. Gybbon Spilsbury

In the course of the persistent and rapid advance of our country towards the goal she has set for herself, of commercial and manufacturing supremacy, there stand out certain periods or cycles of prosperity or depression, succeeding one another with a comparative regularity as to their ultimate trend, but of varying lengths and intensities. I might compare this course to that of a railroad between two points at different levels, with intervening mountain ranges and valleys, the up-grades climbing towards the final upper terminal of prosperity, while the down-grades retard the ascent, and tend to return to the valleys below. Just at the present time we are evidently at the bottom of one of these valleys, and, before starting to climb the next divide, it may be prudent for us to look into the condition of our rolling-stock, and especially into that of our brakes, and see what the experience of our downward journey has taught us, and whether we are properly equipped for the new upward advance which now lies before us. Probably no previous period of the same duration has produced in all branches of mining and metallurgy improvements SO many and so various as have the last ten or twelve years. Not that they have brought forth any such startling and revo-

Jan 1, 1898

By John A. Emery, Frank G. Snyder

Mining geology has a threefold objective: to guide prospecting for new ore, to evaluate known orebodies as development risks, and to supply the detailed knowledge of ore structures necessary for more economical extraction. The role of geology in exploration is well established. This article will deal solely with orebody evaluation and the application of geology to development and mining problems as practiced by St. Joseph Lead Co. in the southeast Missouri district, which for many years has supplied approximately 30 pct of U. S. lead production. The primary concern of the present discussion is geology in the district, not geology of the district. The southeast Missouri district, locally called the Lead Belt, includes parts of St. Francois, Madison, and Washington counties. The first recorded mining was about 1720 at Mine La Motte in Madison County on surface showings of lead ore. Later discoveries near Bonne Terre, twenty-five miles to the north, led to extensive prospecting and underground mining. To date the district has yielded well over 8 million tons of pig lead, valued at more than $1 billion. By far the greater part of the lead production has come from an area of 50 sq miles, centering Fig. 1-Central portion of southeast Missouri on the city of Flat River, as shown in Fig. 1.

Dec 1, 1956

By C. R. Austin

IN a recent paper1 the authors presented information on a refinement of the Rohn type of creep test with data on pure iron that exemplified the behavior of the apparatus. The present paper extends that work to nickel and cobalt and to the examination of the comparative high-temperature properties of two widely used commercial alloys. Careful attention has been given to the effect of plastic deformation in decreas-ing creep rate, using the elementary metals iron, nickel and cobalt for purposes of analysis. In any, endeavor to develop new materials for high-temperature service one soon encounters a real problem as to the sort of test to be employed in evaluating the commercial possibilities of the alloys. At one time it was considered satisfactory to determine the tensile strengths at elevated temperatures and to use these values as a criterion for the commercial application of the alloys. More recently the proportional limit has been used as a means of classification. Data obtained from a form of bend test has also shown promise as providing a "merit index" of high-temperature serviceability.2 Koerber and Pomp3 state that since the influence of testing time is small, the high-temperature yield point of steel furnishes sufficiently reliable and concordant values up to about 350° C. (and a maximum of

Jan 1, 1934

The John Fritz Medal is awarded from time to time for notable scientific or industrial achievement by a board composed of representatives from the four engineering Societies. The members of the Board of Award for 1917 are: A. S. C. E. A. S. M. E. George F. Swain Ambrose Swasey, Charles Warren hunt, John, A. Brashear, Charles D. Marx, Frederick R. Hutton, Clemens Herschel. John R. Freeman. A. I. M. E. A. I. E. E. Gybbon Spilsbury, C. 0. Mailloux, Charles F. Rand , Paul M. Lincoln, Christopher R. Corning, John J. Carty, Benjamin B. Thayer. Harold W. Buck. The John Fritz Medal was awarded in January, 1917, to Dr. Henry Marion Howe, for his "investigations in metallurgy, especially in the metallography of Iron and Steel." The presentation ceremonies were held in the Auditorium of the United Engineering Societies' Building, New York, on Thursday evening, May 10. Mr. Ambrose Swasey, Chairman of the John Fritz Medal Board of Award, presided, and addresses were delivered by Dr. Rossiter W. Raymond, Secretary Emeritus of the American Institute of Mining Engineers, and Dr. Ira N. Hollis, President of the American Society of Mechanical Engineers. Professor Albert Sauveur, Chairman of the Board at the time the award was made, presented the medal, and the ceremonies concluded with the response of Dr. Howe.

Jan 7, 1917

Discussion of the paper of James R. Finlay, presented at the New York meeting, February, 1912, and printed in Bulletin No. 75, March, 1913, pp. 487 to .503. CHAIRMAN JOHN BIRKINBINE :-Having been invited to preside at this session, the Chairman feels that the part he takes in discussions should be limited, although the subject presented is one of much interest to him and there are diverse viewpoints concerning methods of valuing expectancies from what may be considered " ore in sight," a term itself subject to various definitions. Estimates of quantities upon which valuations are made may differ without subjecting the estimators to criticism of unfairness if made by a prospective purchaser or by a seller, or if they are used as the basis for taxation. The hopes of the seller may influence a liberal allowance for estimated reserves, while the expectancies of a willing purchaser are less optimistic, and the tax assessor is expected to limit his consideration to the producing capacity of a mine, with possibly modest allowance for reserves. The knowledge that a property contains or yields mineral or the expectancy that it may be a producer of value adds to the estimate placed upon it by any of the above classes, and a just determination of this value is often a complex problem.

Jan 5, 1913

By L. W. Kesler

Kansas produced 41,966,773 bbl. of oil in the year 1927, thereby taking fourth place among the oil-producing states of the Union. The daily average production decreased from 121,609 bbl. in January to 110,244 bbl. in December. Due to excessive flush production and the resulting decline in the price of crude during the year, operations, both in proved and outlying districts, were reduced materially from those of 1926. There were 2338 completions in 1926, but only a total of 1333 in 1927. Regardless of this decrease in the total number of completions, Kansas made a slight gain in total production for the year, producing 620,262 bbl. more than in 1926. This is accounted for, in part, by the comparative long life of the settled production from the Bartlesville sand areas to the east of the Nemaha granite ridge, and by prolific production in eastern Summer County from horizons new in their importance in the state, productive here at two localities along the axis of the granite ridge (Table 1 and Figs. 1, 2 and 3.) For convenience in further consideration, the state is divided into Eastern and "Western" Kansas. Special emphasis will be placed on those areas in the state of which but little is generally known, and which have not been given detailed consideration in previous publications.

Jan 1, 1928

By H. S. Jerabek, Charles S. Barrett, Robert F. Mehl

The precipitation of the nitride Fe4N from the solid solution of nitrogen in a Fe and of the phosphide Fe3P from the solid solution of phosphorus in a Fe both lead to the formation of structures that may be easily identified as Widmanstatten figures, within the meaning of the term as used in this series of papers. A complete solution has been obtained for the figure formed by Fe4N. The structure of Fe3P, however, is not fully known and a complete solution of this figure thus cannot be obtained; nevertheless, a study of this figure has furnished some new information. Precipitation of Fe4N from Alpha Solid Solution of N in Alpha Fe Constitution of System Iron-nitrogen A knowledge of the constitution of the whole of the Fe-N system is unnecessary for this work, though the recent studies by Eisenhut and Kauppl and by Lehrerz have clarified most of the moot points; it is sufficient for our purpose to state that a Fe of high purity dissolves 0.42 per cent of nitrogen in solid solution at the eutectoid temperature, 591' C., and that this solubility decreases at first rapidly and then more slowly until at room temperature the solid solubility amounts to approximately 0.1 per cent nitrogen.3

Jan 1, 1934

By Robert Mehl

THE precipitation of the nitride Fe4N from the solid solution of nitrogen in a Fe and of the phosphide Fe3P from the solid solution of phosphorus in a Fe both lead to the formation of structures that may be easily identified as Widmanstätten figures, within the meaning of the term as used in this series of papers. A complete solution has been obtained for the figure formed by Fe4N. The structure of Fe,P, however, is not fully known and a complete solution of this figure thus cannot be obtained; nevertheless, a study of this figure has furnished some new information. PRECIPITATION OF FE4N FROM ALPHA SOLID SOLUTION OF N IN ALPHA FE Constitution of System Iron-nitrogen A knowledge of the constitution of the whole of the Fe-N system is unnecessary for this work, though the recent studies by Eisenhut and Kaupp1 and by Lehrer2 have clarified most of the moot points; it is sufficient for our purpose to state that a Fe of high purity dissolves 0.42 per cent of nitrogen in solid solution at the eutectoid temperature, 591° C., and that this solubility decreases at first rapidly and then more slowly until at room temperature the solid solubility amounts to approximately 0.1 per cent nitrogen.3

Jan 1, 1934

Prof. H. O. Hofman, Massachusetts Institute of Technology, Boston, Mass. (communication to the Secretary): When Mr. Stetefeldt quotes me as saying that " silver-assays are uniformly made by scorification," he has evidently not understood that I was referring solely to the practice of silver-lead smelting-works. Everybody knows that silver-mills do not employ the scorification-assay for regular work ; and it is equally certain that in very few, if any, silver-lead smelting-works will the crucible-assay be found in use for determining silver. The second part of the quotation, "as it is adapted to all kinds of ores and gives excellent results unless organic matter is present," although, of course, also intended in a restricted sense, might very well be extended to a general one. Mr. Furman, in his Manual of Practical Assaying,* says, on page 123: "We believe that the Colorado practice is preferable, as most ores will yield higher silver-results by scorification." The fact that the scorification-assay is the accepted one in Colorado is strong presumptive evidence for its accuracy, as exactness would nowhere else be more jealously demanded. Mr. Stetefeldt cites Albert Arents- as a supporter of his preference for the crucible-assay, although I had already done so in favor of scorification. Looking up again the reference, I find that I was justified in quoting him, as, while Mr. Arents advocates the crucibleassay for low-grade gold ores, not on account of the greater accuracy of its results, but because it is quicker and less expensive, he condemns it§ for the assay of silver-ores, and prefers the scorifier for rich goldores, and for coppery ores, and in general for ores containing both silver and gold. As I, like Mr. Stetefeldt, have kept no detailed

Jan 1, 1895

By Robert B. Smith

The South Texas Mineral Trend is now estimated to contain uranium reserves of 150 million pounds U308 . Within the past year, an estimated 10 million pounds U308 have been added to this gross reserve. It is probable that a similar amount has been identified in previously unknown orebodies that, as yet, have not been delimited or announced. Exploration that was limited in the past to a narrow band containing only the known trend has now expanded into older sediments updip and into younger units towards the coast. Uranium host formations are also now being explored at a considerable depth and distance eastward from known deposits. Only about 30 percent of the potential uranium host rocks in South Texas have been adequately explored. Geology The South Texas uranium deposits are confined mainly to sediments of the Tertiary system. Reserves are divided almost equally between the Whitsett Formation of the Jackson Group, the Catahoula Formation, and the Oakville Formation. A minor amount of the reserves occurs in sands of the Goliad Formation which may be either in the Tertiary or Quaternary Epoch. Figure 1 is a geologic column of the South Texas uranium host formations. These producing formations are marked with a mine symbol but there are also several prospect symbols that denote potentially favorable uranium host formations both younger and older from the producing formations. It is generally accepted by most workers in South Texas that the source for the uranium is the volcanic ash that is abundant within several of the formations. Likewise, the required reductant is considered to be hydrogen sulfide gas, derived from deeper seated hydrocarbon accumulations, that emanate upward along fault zones into favorable host-rock sand units. Within this basic framework of source, host, structure and hydrocarbons is where most of the reserves have been discovered and where most of the current exploration is either concentrating or expanding. Structure in South Texas is predominantly faults. Swarms of faults exist in zones paralleling the coast and running from the Rio Grande to the Sabine River. These faults are usually growth faults with the down-dropped block on the coastward side. Displacement may range from a few feet to a few hundred feet. Dips are near vertical in the younger rocks at the surface but become flatter as the fault cuts older beds in the subsurface. A map of the oil and gas fields in South Texas indicates a correlation between these fault swarms and accumulations of hydrocarbons. It is not coincidental that the known uranium trends closely follow the hydrocarbon accumulations and the faults swarms, all of which supports the theory of uranium concentration by groundwater movement through volcanic ash-rich beds into favorable host rocks impregnated with reducing hydrogen sulfide gases that migrate upward along fault planes from hydrocarbon accumulations. History Newcomers to South Texas are often amazed that active entry is possible in a district that has produced uranium for over 20 years. Understanding the conditions and occurrences of the past would explain why the opportunity still exists for companies not now active in South Texas to become active. Uranium was discovered in the middle 1950's in sandstone units of the Jackson Group at Tordillo Hill in Karnes County. This discovery was followed by a rush involving most of the major uranium exploration companies as well as several of the not-so-major. Those western prospectors who were used to numerous outcrops and neat land subdivisions were further discouraged by the small size and low grade of the deposits. Then after a brief blast, they left South Texas as they found it and returned to the richer diggings of New Mexico and Wyoming. Susquehanna Western was the only one to stay and develop mines in the area. Eventually they discovered enough ore along the Jackson outcrop to warrant constructing a small mill. They managed, with limited budget and diligent effort, to find enough ore to keep the mill going and eventually expanded into exploration in other formations. By the late 1960's, Susquehanna was mining from both the Jackson and Oakville deposits. About this time, the oil companies began to enter the uranium industry and found, that because of sound forward planning, they controlled the uranium on vast tracts of acreage. At this time, which was more than ten years after discovery, there was so little literature on South Texas uranium deposits that the oil companies began following the known trends and off-setting known orebodies. This, and a few kicks on some well gammaray logs, lead to the discovery of new areas in formations that previously had n o uranium discoveries. Still, the following of the trend as it crossed from one formation to another was the main geologic guide. Nowadays, we in South Texas feel that science has entered into the quest to discover new orebodies. The work of Galloway has indicated new pathways to explore. The understanding of multiple stages of oxidation and reduction has created some doubt about areas drilled in the past and abandoned. The expanded use of oil well logs and geochemical prospecting has lured the more progressive exploration companies off the mineral trend and into unexplored areas. Prognostication The fact that uranium exploration in South Texas has been active for only the past ten years is not an indication that South Texas is not a major uranium district. The geology of the South Texas uranium deposits as described here serves only to indicate that similar geology extends in all directions from the known mineral trend as can be seen on Figure 2.

Jan 1, 1979

By A. M. Rowe

A considerable quantity of experimental hydrocarbon K-factor data has been correlated as a function of component identity, temperature, pressure and convergence pressure. To utilize these correlations effectively, convergence pressure must be determined accurately, particularly for volatile mixtures near their critical states. This paper presents phase diagrams that illustrate physically the meaning of convergence pressure. A new method, referred to hereafter as the "critical composition method", will be outlined for calculating convergence pressure. An example calculation has been included to illustrate how to use this new technique. INTRODUCTION The principle of hydrocarbon phase composition calculations as applied to such diverse problems as optimizing separator performance or predicting fluid compositions at various stages of reservoir depletion is the same. Usually, temperature, pressure and the numbers of moles of the various components of the fluid contained in a given volume are known. Questions answered by the phase calculation are what fraction of the total mass of fluid exists in each of the equilibrium phases, and what are the mole fractions of the various components in the two phases? To answer these questions the Natural Gasoline Supplymen's Assoc. (NGSMA) has correlated a considerable quantity of K-factor data as a function of temperature, pressure, component identity and convergence pressure.l To use these correlations to obtain the best answers possible, one must be able to calculate the convergence pressure. This is particularly true for over-all fluid compositions in the neighborhood of the critical state. STATEMENT OF THEORY Use of convergence pressure as a correlating parameter is based on a postulate similar to the law of corresponding states used in correlating PVT data of hydrocarbon gases. This postulate, which proposes convergence pressure as a correlating parameter, has been stated as follows: "The equilibrium vaporization constant for one component in a complex system is the same as the equilibrium constant at the same temperature and pressure for the same number or kind of components, providing only that the convergence pressures of the two systems are exactly the same at the same temperature and that the components are of the same homologous series".2 This law, as with all laws of physics, cannot be proven theoretically. It can only be justified by experimental data supporting its premises. Arguments have been made that this law violates Gibb's phase rule. For example, consider a four-component system. By Gibb's phase rule, which is thermodynamically rigorous, f = c — P + 2 =4, for a four-component, two-phase system. Thus, four independent intensive variables must be specified to establish completely all the intensive variables of the equilibrium phases. On the other hand, according to convergence pressure theory, only three variables need be specified for any mixture containing four different components. These variables are temperature, pressure and convergence pressure. Thus, the two laws appear to be in conflict. However, the convergence pressure postulate is more restrictive than Gibb's phase rule. It applies only to mixtures of the same homologous series. Hence, these two concepts are not in disagreement. PHASE DIAGRAMS DESCRIBING CONVERGENCE PRESSURE This paper presents phase diagrams grading from the simple two-component system to the more complex four-component system to illustrate convergence pressure. A less abstract definition of convergence pressure will be stated that is

Twelve Directors, the Secretary, and ten guests were present. It was unanimously resolved that the sense of this body is that the name of the Institute should be changed to American Institute of Mining and Metallurgical Engineers. Messrs. J. W. Richards and Bradley Stoughton were appointed a committee to formulate the necessary steps for bringing the matter to a vote. The committee in charge of the New York meeting, with Allen Rogers, Chairman, was appointed. The rules of the American Engineering Standards Committee were approved. The Bulletin was presented to the Springfield Arsenal. The sum of $250 was appropriated to the Southern California Section. The By-laws were changed to increase the Secretary's cash from $500 to $1000. The report of the Treasurer was accepted. Sixty-eight members, thirteen associates, and forty-eight junior associates were elected. Four members were reinstated. The resignations of seven members were accepted. Thirteen members on active duty at the front had their dues remitted. Upon the recommendation of the Finance Committee, it was resolved that the clues of any members who have attained the age of seventy (70) years and have been members for a continuous period of at least thirty (30) years shall be remitted.

Jan 7, 1918

TWO hundred enthusiastic engineers and coal, op-erators attended a joint meeting of the A. I. M. E., the National Coal Association, and the American So-ciety of Mechanical Engineers in the auditorium of the Alabama Power Co. building at Birmingham, Ala., on Jan. 21. S. W. Farnham, mining engineer of the Goodman Manufacturing Co., Chicago, in his paper on mechanical loading of coal discussed the feasibility of scraper and machine loading. A. R. Anderson of the Jeffrey Manufacturing Co., in a paper on loading coal with conveyors covered their adaptation for long-wall mining and for loading into cars. Discussion of these papers was hampered because the cheap labor costs prevailing in the district have handicapped gen-eral mechanization of the mines. The Bureau of Mines film, "The Story of a Rock-dusted Mine," showing the New Orient mine, West Frankfort, Ill., was also shown at the meeting. F. H. Crockard, president of the Wood-ward Iron Co., represented the A. I. M. E., S. L. Yerkes, vice-president of the Grider Coal Sales Agency, and J. L. Davidson, secretary of the Alabama Mining Institute, represented the National Coal Association, and Paul Wright represented the American Society of Mechan-ical Engineers.

Jan 2, 1927

By L. S. Panyity

The question of natural-gas supply is receiving careful consideration in many parts of the country, as in the winter months it is quite a problem to have on hand sufficient gas to satisfy the demand. Increasing the output of wells by the application of vacuum has been tried with various results and large companies have attempted to keep up the supply with gas compressors. The possibility of storing natural gas in the sands of exhausted gas pools has been tried in a few instances with satisfactory results. This method may prove of practical value in solving the problem, especially in the case of towns that formerly obtained gas from their immediate vicinity, but now must search for new pools. Town Plant Regulator High Pressure Line Exhausted Gas Field used for Storage Producing Gas Field FIG. 1. In all cases, only part of the available supply is utilized during the warns weather, so that many wells are shut-in, yet during the winter months, the supply is not sufficient even with all the wells on the line; in such cases it would be of great value if a large volume of stored gas were on hand, obtained through wells that would have been standing idle during the summer.

Jan 1, 1919

The School of Mineral Industries is dedicated to education in mineral conservation and research by which the means may be found to make conservation effective. This includes diligent search for mineral truths and the energetic discovery, complete recovery, and maximum utilization of irreplaceable mineral resources. Standards of living depend upon two factors: human resources-intelligence, imagination, initiative, know-how, work; and natural resources-plants, animals, and minerals, including water, air, soil, heat and light from the sun, and all other such resources that are useful to man. Human relationships have not kept pace with scientific achievement; as a result man, in desperation, wittingly, premeditatively sacrifices freedom for security. Many natural resources, through overproduction, mismanagement, and greed, have definitely moved over into the exhausted or exhaustible category. The United States cannot maintain present standards of living on an agricultural economy alone, and serious harm can ensue if there are marked disproportions in numbers and relationships between city and rural populations. The most materialistic New Yorker must see virtue in bucolic loveliness. The United States is rated wasteful and inconsistent most of the time. It does not make sense to dole out through the keyhole what a wage earner can bring through the open door; to raise wages to lower the cost

Jan 1, 1950

By Joseph M. Dawson

Although eight new fields were discovered along the south central fault-line district of Texas during 1938, only one can be considered as of major importance. and as a whole the year was one of no very great development. Several prospects, particularly two, were condemned through drilling, which had been considered important for probable Edwards limestone production. The oil produced was approximately the same as during 1937; namely, about 9 million harrels. This, of course, does not represent potential production but that allowed under proration. The year witnessed the very rapid decline of operations and interest in Austin chalk production. It has been found that only in rare instances mill chalk production pay for itself, because the wells decline extremely rapidly and the recovery per acre, formerly estimated at 2500 bbl., is now considered to he around 1000 barrels. There was an intent interest in the drilling arid producing of edge and abandoned properties in the three Edwards lime producing fields; namely, Luling, Salt Flat and Darst Creek. Many good wells were completed on properties formerly considered below the water level or produced beyond the economic limit The Edwards is penetrated only a few inches and a very small charge of acid is used. The results have been surprisingly

Jan 1, 1939

By Joseph G. Wargo

An investigation of trends in exploration expenditures for a selected group of mining companies was undertaken for the interval 1968-1971. These trends were compared with financial factors that are associated with various groups of companies and the implications of these trends are indicated. The sample consists of 21 mining companies, of these, 19 are listed on the New York Stock Exchange and 2 are listed on the American Exchange. Twenty are American, one is Canadian. All are fundamentally "mining companies" in that they derive the bulk of their income from the ex- traction, sale, and at times, fabrication of metals from their own mines. This is in contrast to companies which have mineral exploration departments but derive the bulk of their revenues from sources other than mining, such as oil and gas sales. No companies which can be considered strictly as exploration companies are included in the sample. This definition held up in 1968, however, its strict application became more difficult through the years. In 1971, three or four of the companies were changing their character in that they were phasing out of the mining business and deriving a substantial part of their income from activities other than mining.

Jan 5, 1973