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By B. Thomas Mansbach

INTRODUCTION The Overseas Private Investment Corporation ("OPIC") is a U.S. Government agency mandated to promote the economic development of the less developed countries ("LDCs") by assisting U.S. private investment in the Third World. Generally, investment decisions turn on the optimism or pessimism of the private sector's financial analysis of a project, with market price of product a major unknown in a very chancy set of projections. Discussions with American mineral companies, however, show that, more often than not, in developing country projects it is the political risks of investing in mineral exploration and extraction that pose the most serious deterrent to investment. In several of the projects described here, investments would not have been made if OPIC had not been involved providing support to the project sponsors and their funding sources. Clearly it is not OPIC's business to promote U.S. investment in a project which is not commercially viable, but OPIC's programs can neutralize the political uncertainties which act as disincentives to investment in otherwise commercially viable projects. That is to say, OPIC's programs are designed to reinforce market decisions and not distort them. Although OPIC is an independent agency of the U.S. Government, it is managed by a Board of Directors, the majority of whom come from the private sector. This, coupled with the statutory requirement that it be self-sustaining and operate with due regard for the principles of prudent risk management, requires that it operate on a business-like basis. Although established as a development agency, to the business public OPIC is both an insurance company and a lending institution, with two major programs which are available to U.S. investors in the minerals sector: its political risk insurance program and its finance program. Each has been specially tailored to the meet needs of the mining industry. The insurance program provides coverage against four basic types of political risk: Currency Inconvertibility, Expropriation, loss caused by War, Revolution and Insurrection and Interference with Operations as a result of an act of War, Revolution or Insurrection. Coverage against the risks of Civil Strife can be added to both War, Revolution and Insurrection coverage and Interference with Operations. Inconvertibility coverage provides protection against a deterioration in an investor's ability to convert local currency into U.S. dollars. This deterioration can be the result of either active or passive delays. Active delays consist of a change in exchange laws or regulations that leads to inconvertibility delays of 30 days or more. For example, if the exchange regulations at the time of contract execution allow an investor to transfer earnings equal to 18% of its registered capital per annum and the government of the host country later changes the law to allow conversion of only 12%, the insured would convert the 12% transferable under the new exchange regulations with the government foreign exchange authorities, delivering the remaining 6% to OPIC for conversion at 99% of the then prevailing rate of exchange. (OPIC does not cover devaluation risks.) Upon delivery of the local currency to OPIC, normally at the U.S. Embassy in the project country, the insured's account in the U.S. would be credited with dollars. Delays can also result from what is termed passive blockage, which includes administrative delays of more than 60 days (sometimes longer) caused by the bureaucratic tie-ups or pigeonholding of transfer requests, as well as delays suffered simply because the government of the host country does not have sufficient foreign exchange. The transfer procedure is the same as with active blockage - the local currency is delivered to OPIC in the project country and OPIC provides dollars in the United States at the then prevailing rate of exchange. The second coverage -- Expropriation -protects not only against the loss of the investment due to the well-known risks of expropriation, nationalization or confiscation by the host government, but also against

Jan 1, 1985

By Francis O. Blackwell

There are few industries in which power is more important to successful operation than mining, and none in which it is so difficult to ohtain power cheaply. Fuel is usually expeusive in mining districts, ana the ma chinery may be widely scattered and located in places difficult of access. The work is often so intermittent and variable as to prevent the economical use of steam. Mining operations are likely to exhibit accumulations of comparatively small and inefficient engines, numerous boilers and long lines of wasteful steam-pipes. Conlpressed air, as a means of transmitting power, is so handicapped by losses in the compressors and piping that it is limited to short distances and to the operation of apparatus requiring power, without regard to cost. To-day, electricity is rapidly replacing other methods of power-distribution, primarily because it is practically independent of distance. By selecting a potential proportional to the length of transmission, the cost of electric conductors and the e5ciency are the same for all distances within reasonable limits. For instance, a given amount of power can be delivered either 528 ft. away at 100 volts, or 50 miles at 50,000 volts, with the same total of copper per H.P. and with exactly the same loss of power in the transmissioo-circuk. This independence of distance permits the selection of the place most advantageous for power-development as a site for an electric power-plant, and the co~~centration there of the generation of all the power required within a radius of many miles. The powel.-site may be at a fall of water, if one is available, or a steam-plant can be built where fuel and supplies are cheapest, or where suflicient water is available for boiler-feed and condensing purposes.

Jan 1, 1904

By H. M. St. John

MAINTAINING a satisfactory structure in brass and bronze castings has always been a foundry problem of great practical importance. While metallurgists and scientific investigators have not entirely ignored this matter, it has received less of their attention than has been given to iron, steel and the wrought copper and aluminum alloys. Investigation in this field has probably been discouraged to some extent by the complicated nature of the alloys involved. Hundreds of alloys are in more or less common use, most of them containing copper, zinc, lead and tin in-widely varying proportions. They also contain appreciable percentages of iron and antimony as impurities, and often phosphorus, which has been added as a deoxidizer and fluidifier. Small amounts of sulfur are usually present. It is not uncommon to find nickel, sometimes in rather substantial quantities. Traces of other metals are frequently present. So complicated and variable a mixture obviously offers difficulties in. any investigation of the various factors that influence the structure and other properties of the casting.

Jan 1, 1930

The University of North Dakota, State Geological Survey, Grand Forks, N. D A G. Leonard, State Geologist. Two publications of the State Geological Survey are of interest Fourth Biennial Report, The clays and clay industries of North Dakota, and Bulletin 4, Lignite deposits and lignite industries of North Dakota. Bulletin 11 of the University is of interest: Geology and natural resources of North Dakota For further information, address the above

Jan 1, 1933

By William P. Blake

The ancient city of Guanajuato, the capital of the State of that name, has been built up and sustained chiefly by the milling industry based upon the veins of the Veta Madre and La Luz. It is distant about twelve hours, by rail, from the City of Mexico. Its elevation above the sea is about 6300 ft., and it has a salubrious climate. The population, at the date of my visit in 1891, was estimated at from 80,000 to 100,000 persons. The place is justly celebrated for the antiquity, depth and extent of the mines, the magnitude of the deep shafts, and the enormous total yield of the district in silver and gold, which is comparable with that of the Comstock Lode in the United States. Several important public institutions are located at this center. The State office for the records of claims and of the statistics of mining and production is known as the Deputacion de Mineria. The Mining College, with its fine collection of ores and minerals from the mines of the region, is highly interesting to mineralogists. A mint for the coinage of silver, but not of gold, coins from four to twelve millions of' silver dollars annually. The silver received at the mint is melted in an open-hearth furnace, and is ladled out and cast into long and thin bars, which are rolled down to the proper thickness for the blanks. The bars contain some gold which is not parted. There is an export of dore bars to Germany, amounting in value to from $1,000,000 to $1,500,000 annually. There were, in 1891, upwards of forty reduction-works in and about the city where the silver ores were treated, chiefly by the ancient patio method. In these works were 65 Chilean mills, 301 arrastres of large size, and 936 of smaller dimensions. There were 36 steam engines, but mule-power was generally used at the ar-

Jan 1, 1902

By Paul M. Tyler

THE farmer pays the phosphate miner! Phosphorus is used in fireworks; goes to battle in military smoke screens, incendiary shells, and tracer bullets; and, in vermin destroying pastes, does its part in the war against insects. A lemon phosphate can be had for a nickel at most soda fountains, and tens of thousands of tons of phosphate rock are mined annually for use in the food industries, chiefly for making monocaleium phosphate baking powder. Sodium phosphate cleaning, washing, and scouring compounds consume substantial quantities: the iron and steel industries buy a few thousand tons yearly to make ferrophosphorus and to balance foundry-iron furnace charges; and even nonferrous metallurgists use a little for phosphor bronze and other alloys. Phosphoric acid, its salts, and diverse other derivatives of this versatile element have countless applications, and industrial outlets are increasing rapidly, especially in the United States. Nevertheless, in this country nearly 90 per cent and in the whole world fully 95 per cent of the phosphate rock consumed is absorbed ultimately in agriculture.

Jan 1, 1938

By Theodore Simons

I. INTRODUCTION PERMISSION to present this paper at the February, 1915, meeting of the Montana Section of the American Institute of Mining Engineers was liberally granted by W. A. Clark, Jr., President and General Manager of the Timber Butte Milling Co., and by the representative of the Minerals Separation Co. For the many courtesies shown the writer on his visits to the mill and for information supplied, he is indebted to all the officers of these companies, especially to W. N. Rossberg, W. D. Mangam, Hamilton Cooke, Jr., T. M. Owen, T. C. Wilson, R. McGillivary, L. L. Quigley, C. Bartzen and others. The writer takes this opportunity to herewith express to them his appreciation and sincere thanks.

Jan 6, 1915

By G. Ferrara

The reserves of lead and zinc ores in the metalliferous district of Iglesias in south-western Sardinia are today estimated at about 30 million tons, grading from 4 to 10% Pb + Zn. Of these reserves, about 40% are in the mines owned by AMMI Sarda S.p.A. The working of these resources goes back to ancient times. Not infrequently, traces of old Roman workings and remains of ancient implements are come upon in the higher parts of some of the ore bodies. Exploitation of these mines on larger scale, however, dates from the middle of the 18th century. Initially, the more accessible zones of the ore bodies and the richer ores were worked - the galena and the rich oxidized ores (calamine* with 25-35% Zn), which were often found in large masses, the enormous empty cavities of which still remain. The poorer grade deposits have been gradually rendered workable by the development of technology - the perfecting of the

Jan 1, 1970

By Orlando Romig

PART I-PREPARATION OP METALLIC SINGLE CRYSTALS WITH ESPECIAL REFERENCE TO SINGLE CRYSTALS OP ZINC? As metals and alloys are composed, of, an aggregate of allotriomorphic crystals or grains, each possessing an individual orientation, the physical characteristics of a metal or an alloy are closely related to the properties of the individual crystals. The preparation and study of single metallic crystals are, therefore, matters of considerable importance. The advent of the X-ray spectrograph as a valuable metallurgical tool has magnified the importance of this subject, because the interpretation of some X-ray spectrographs is difficult unless single crystals are used in these studies. PREVIOUS WORK The first paper, as far as the writer knows, on the behavior or preparation of single crystals of metals is by Baker.1 He describes the behavior of extruded wires of sodium and potassium. These wires, when pulled in tension, instead of I showing the usual conical fracture common to most metals, had a chisel-shaped fracture when they were broken. I and II, Fig. 1, have a similar fracture. Baker checked his results by preparing single crystal wires from molten sodium and potassium and observing their properties. He prepared the wires by filling glass tubes, under oil, with the molten metal. The surfaces of the strained wires showed slip bands of remarkable clearness of which photographs are shown in his paper. He concluded that these wires were single crystals and "that the portions of the metal brought into play are cubes. Such cubes, when placed so that a plane through 'two opposite edges was parallel to the axis of the wire, would allow of lateral contraction by faces gliding over one another in one direction only and not in the direction at right angles."

Jan 1, 1927

By C. H. Chou, A. Sauveur

The senior author of this paper has expressed the belief that when gamma iron transforms into alpha iron on reaching the A3 point, each gamma grain does not change bodily into one or more alpha grains but that the alpha phase forms first at the boundaries and along the crystallo-graphic planes of the austenite grains.1 To quote: On cooling through the point As, at about 900° C, iron passes from the gamma condition to a new allotropic form generally designated as alpha. This transformation, however, is not instantaneous. There are good reasons for believing that it begins at the grain boundaries and along the octahedral planes of the crystals and that it progresses until each grain of gamma iron is changed into a grain of alpha iron, the resulting structure being similar to that of gamma iron. Were it possible to retain

Jan 1, 1929

By H. B. Pulsifer

THIS paper outlines a method for rapid production of flat, granular surfaces on many of the medium hard- alloys. Grinding wheels and fabrics on wheels are not used; the purpose is accomplished by rubbing on emery papers and on fine abrasives heaped on hand boards. The advantages of chromic acid in the solutions for etching nickel and copper alloys are explained. Steels may require an additional step in the mechanical smoothing owing to the lack of an ideal etchant. Chloric acid is a. rapid etchant for steel. Thirty-six photomicrographs illustrate the steps in smoothing and the clearness with which structures can be rapidly exposed. New structures in low-carbon steels are announced. After a little practice, many materials can be finished within two or three minutes. CUPRONICKELS In the previous papers on the metallography of copper and magnesium which the author has presented to this Institute there has been an attempt to demonstrate the advantages of minimizing the mechanical work of surfacing and depending more on chemical means; the present paper continues the research into a still wider field. It is obvious that the success of a chemical method for smoothing and etching depends almost entirely on the use of a suitable reagent. The etchant must remove the surface granulations and outline the structures. A very special type of reaction between reagent and metal must be displayed. Promiscuous corrosion or the intensification of the attack about local couples -formed by impurities or components must not be in evidence. There are several reagents that etch highly polished nickel and copper alloys very well. Acidified ferric chloride solutions, concentrated and dilute nitric acid solutions, and nitric and acetic acids in acetone have -been used to good advantage for the purpose. However, if they are expected to etch rather deeply-that is, smooth as well as characterize-the results may be far from satisfactory.

Jan 1, 1928

Briefly, an open stope is one in which the ore is taken out and no filling is put in; the only support for the walls may be posts or pillars of ore. Such a method is limited to orebodies with strong walls and ore strong enough to stand unsupported over the back of the stope. Details vary and depend on the dip of the vein, mode of breaking ground, method of handling broken ore, and so forth. The examples given are the Beat-son, Birmingham district, Mineville district, and Cornucopia.

Jan 1, 1925

By William B. Plank

A NEW record-a quarter million students in the engineering schools of the United States and Canada-has resulted from the great demand for engineers following World War II. The figures released by the American Society for Engineering Education and which appeared in detail in the Journal of Engineering Education for January 1948, show that, on Nov. 1, 1947, 252,250 students were studying engineering in 149 engineering schools of both countries. There are 244,390 in the 143 schools canvassed in the United States, and 7860 in six schools in Canada. These figures include both undergraduate and graduate students and are therefore comparable with the figures in previous presentations on this subject. This unprecedented engineering student body

Jan 1, 1948

By R. A. L. Black

Between March and June 1962, the privilege of holding a Carnegie Corporation Fellowship enabled R. A. L. Black to travel extensively in the northeastern and western U.S. and in Canada, seeing mining schools, mining research establishments and a cross-section of the American and Canadian mining industry. Visits were paid to 12 university mining schools, 7 research establishments and 19 mining operations. The author had previously spent two months in Britain in a similar manner and eventually returned to his home in South Africa after a short period studying mining problem in Australia. Thus, although the following remarks are mainly concerned with the educational problems of mining in North America, a comparison of impressions of American and Canadian conditions could be made with impressions gained from first-hand experience of other mining centers in the English-speaking world. The conclusion was reached that the problems and conditions of mining, research and mining education are very similar in all areas visited.

Jan 4, 1963

Charles Catlett, Staunton, Virginia (communication to the Secretary*): I have had occasion to examine a few of the irondeposits in the immediate section of which Mr. Watson speaks, but have not had an opportunity to visit any of the well-known manganese-deposits. I find the former can be very safely read in light of the information which it is possible to get from the same measnres farther. north, where they are less completely decomposed. In the same way all of his conclusions in regard to the geology of the manganese-deposits bear out their occurrence in Virginia, when we allow for the far more complete decomposition in the section he has so carefully studied. Judging from the same measures farther north, I think he will be safe in agreeing even further with Penrose as to the origin of these ores. Some years ago I carried on prospecting work in these measures in Virginia, in which the iron-ore and manganese-ore were followed down to undecomposed material, and in which their occurrence along a definite line of stratification, and apparently a part of the original bedding, was plainly shown. This is unusual, however, even in the section of which I speak. At Crimora, Virginia, the decomposition is quite complete; at the same time the results of some hydraulic work, which has been done there, disclosed, at the time of my last visit, the manganese interbedded in the residual clay along a definite and distinct plane parallel to the bedding of the underlying quartzite, and which, as is shown at other points, corresponds with the plane of the original material. In view of the phosphorus reported by Mr. Watson as existing in the Cartersville ores, and the not uncommonly prohibitive amount in southern ores, I am interested to know whether

Jan 1, 1904

Prof. J. C. BRanner, Stanford University, Cal. (communication to the Secretary): On p. 398, Mr. Hedburg mentions Marionite and Brannerite as ores of zinc. Neither of these has been authoritatively recognized as a distinct mineral species. Marionite, originally described by Elderhorst, was subsequently determined to be nothing else than hydrozincite. Analyses of the so-called Brannerite were sent by me to Prof. Penfield, who says it is a mixture of Smithsonite with some other mineral. On p. 398, Mr. Hedburg says the zinc-bearing formation of North Arkansas " is recognized as the Upper Silurian." So far as my observation goes, the ores occur both in Lower Carboniferous and in Ordovician or Lower Silurian rocks, but nowhere in rocks known to be of Upper Silurian age. If Mr. Hedburg has any paleontological evidence of the Upper Silurian age of these rocks, or of any of them, he will confer a favor upon geologists by making it known. On the same page is another statement in which I cannot concur. He says that in this region, " it can easily be seen that the largest fissure-deposits have been eroded and washed away, leaving here and there a few patches adhering to the hillsides." I am compelled to say that in many years' study of the geology of the region in question, I have never been able to recognize such a state of affairs as Mr. Hedburg here describes. The patches which he regards as remnants of fissure-veins, " adhering to the hillsides," I have found to be either the edges of bedded deposits, or portions of the zinc-bearing breccias, formed along old drainage-lines, and laid bare by the ordinary processes of erosion. That fissure-deposits have been partly removed by the same agency, goes without saying; but it is, in ,my judgment, no more true of North Arkansas than of any other mining-region that erosion has selected and washed away " the largest " deposits. My own views of the region in question are given in detail

Jan 1, 1902

By Edward Keller

(New York meeting, February, 1912.) IN a paper, entitled A Uniform Method for the Assay of Copper Material for Gold and Silver,1 A. R. Ledoux invited the assayers of this country to contribute to a symposium, in which the results of their assays of given samples of copper-matte and metallic copper would be made comparable. This symposium 2 appeared about one year thereafter; and through it and its discussion, first became generally known the fact that the ,gold-yield by the all-fire method of assaying is usually higher than by the so-called combination (wet and dry) method, in which nitric acid is employed as a solvent for the copper. In the publication alluded to, the supposed cause of gold-losses in the latter method was declared to be the solvent action of copper nitrate, or of the reduction-products of the nitric acid, upon the gold. Up to a very recent date, gold has been held to be insoluble in pure nitric acid. (The solvent action of any chlorine present in the nitric acid must here properly be disregarded as belonging in the realm of carelessness. Among later allusions to this topic, W. R. Tan Liew 3 ascribes the solution of the gold in the combination-assay entirely to the action of nitrous acid at the high reaction-temperature of copper and nitric acid ; F. B. Flinn 4 a believes the low result in gold to be due exclusively to mechanical losses-finely-divided gold penetrating through the filter-paper-but presents no experimental data confirmative of this belief; and 0. Pufahl 5 attributes the solubility of the gold in some coppers to the presence of selenium-a view which appears to be shared by many as- 1 Trans., xxiv., 575 (1894). 2 Trans., xxv., 250 (1895). 3 Engineering and Mining Journal, vol. lxix., No. 16, p. 469 (Apr. 21, 1900). 4 Engineering and Mining Journal, vol. lxxxvii., No.11, p. 569 (Mar. 13, 1909). 5 Lunge, Chemische Technische Untersuchungs Methoden, vol. ii., p. 229 (1900).

Jul 1, 1912

By BARONJUPTNER VON JONSTORFF, Andrew A. Blair, GUNNAR DILLNER

IT is a well-known fact that the results of different analysts, when operating on the same identical sample of steel or iron, are far from concordant, and it not infrequently happens that great annoyance and trouble in the commercial community are occasioned by these discrepancies. Attempts have been made at various times to investigate the causes of such differences and to obtain more reliable methods of analysis. The most important of these was made by the British Association in 1889: The following gentlemen, with Sir W. Roberts-Austen as Chairman, and Professor T. Turner as Secretary, were constituted as a committee to investigate the question, viz.: Sir F. A. Abel, Mr. Edward Riley, Mr. G. J. Snelus, Mr. John Spiller, Professor J. W. Langley, and Professor Tilden. Average .samples of steel were prepared in America under the superintendence of Professor J. W. Langley. The steels, in the form of turnings, were divided and distributed to sub-committees in Great Britain, America, France, Germany, and Sweden. In Sweden Professor Åkerman acted as Secretary to the Swedish committee. The Government Department of Tests was appointed in Germany; Mr. Ferd. Gautier in France; the British Association Committee in England; Messrs. William

Mar 1, 1905

By Mark C. Malamphy

AT present the Federal Government represents the only organization applying geophysical methods of prospecting in Brazil. The geophysical work of the National Department of Mineral Production, which will be described in the following pages, must be considered as a program of experimental work designed to demonstrate the applicability of the more or less "standard" methods of geophysical prospecting to various problems of economic interest in Brazil by means of practical examples of results obtained in certain typical areas. Our work is somewhat similar to that of the Imperial Geophysical Experimental Survey of Australia, but our task has been greatly simplified by the ever increasing number of technical publications relative to the theory of instruments and methods.

Jan 1, 1936

The Arizona Committee, consisting of GERALD F. G. SHERMAN, Chairman, ARTHUR NOTMAN, Secretary, NORMAN CARMICHAEL, B. BRITTON GOTTSBERGER, W. L. CLARK, J. C. GREENWAY, W. G. MCBRIDE, FOREST RUTHERFORD, has arranged the following program for the Arizona Meeting, which has been approved by the President of the Institute and by the Executive Committee. It is printed herewith for the information of members, and probably will not be changed in any material respect. Sunday, September 17, 1916.-Arrive at El Paso, Texas, 2.40 P.M., leave 10.20 P.M. Monday, September 18, 1916.-Arrive at Deming, N. Mex., .12:47 A.M. Arrive at Santa Rita, N. Mex., 4.00 A.M., where luncheon will be served, after which there will be a visit to the Chino mines. From there the train will proceed to Hurley, N. Mex., where a visit will be made to the mill of the Chino Copper Co.

Jan 7, 1916