Search Documents

By Charles Fulton

This paper describes experiments carried on at the Case School of Applied Science, together with their results. Their success led to the design of the larger furnace herein described, but which has not been built. A PREVIOUS article' by the authors contained a general description of the new roasting furnace herein described but it did not go into detail as to the metallurgical behavior or the results obtained. Believing that such information would be of great value, they have elaborated on the subject and have given many unpublished details. The furnace described applies the principle of roasting finely divided zinc-sulfide ores, now produced in large quantity by the flotation process, in gaseous suspension; that is, the ore particles are carried, in suspension, in a current of air and gaseous products of the roast. The relatively great fineness of flotation concentrate presents difficulties and problems of roasting in furnaces of the ordinary type; the fine ore is forwarded through the furnace in the form of a shallow bed and its very fineness leads to dense impervious bedding which prevents oxygen from reaching the interior of the bed, thus unduly lengthening the time of roasting and preventing the elimination of the last of the sulfur. The fineness of the concentrate, normally, should lead to a rapid and complete roast, for the speed of roasting is a function of the surface exposed to oxygen, which surface is greatest, per unit of weight, in very fine material. The difficulty in bed roasting is to get the oxygen to the particle. If the fine ore, during the roasting, could be freely suspended in oxidizing gases, full advantage could be taken of the great surface conferred by its fineness. This fundamental idea, of course, is not new, for the Stedtefelt furnace, familiar to the older metallurgists, is an example of it; but the manner in which this is accomplished may be new.

Jan 10, 1924

By Carl Lee

WITH the modern trend toward motor drive in coal mines, more careful forethought should be given to future layouts than has usually been done in the past. Both top and bottom equipment of future new mines is likely to differ radically from those of a decade ago. No one is able to predict very far ahead, but provisions can be made to allow for uncertainty. One thing stands out: the mine of the future will be laid out for long life compared to that of the small mine of the past, where an inexpensive top plant, simple equipment, a small timbered shaft, small cars, light rail, hand loading and mule haulage all contributed to a short economical life.

Jan 1, 1933

By Hans Lundberg, Basil T. Wilson, H. Steuart Scott

FOR the benefit of those readers who may not be in close touch with present practices in the geophysical prospecting for ore, brief reference will fiat be made to the advantages and shortcomings of the methods to be discussed. Magnetic and electric methods are generally accepted as the most useful for ore prospecting. By magnetic methods, magnetic intensities that are not normal may be recorded and outlined. From these can he located concentrations of such highly magnetic minerals as magnetite or pyrrhotite, which sometimes occur in such large masses that they are of economic value in themselves. More often. however, these magnetic min¬erals are associated with others, such as copper, zinc, lead, gold, and silver, which, if existing in sufficient concentration and quantity, may constitute valuable ore bodies. It is therefore only when pyrrhotite and magnetite are present in these bodies that the magnetic method can be used to indicate their presence.

Jan 1, 1945

AMERICAN INSTITUTE OF MINING ENGINEERS 29 West 39th Street, New .York, N. Y. PROPOSAL FOR MEMBERSHIP Address Member is hereby proposed by the undersigned, as a Associate Junior Member of the American Institute of Mining Engineers. Signatures of .-' three Members or Associates. Place of birth Year of birth Education, when, where and how acquired, with degrees, if any. " A technical education is not requisite for membership. Dates Please give record of experience on following page with dates; for example, in the form used by "Who's Who In America" and similar publications.

Jan 7, 1917

AMERICAN INSTITUTE OF MINING ENGINEERS 29 West 39th Street, New York, N. Y. PROPOSAL FOR MEMBERSHIP Mr. Address_ Member is hereby proposed by the undersigned, as a Associate Junior Member of the American Institute of Mining Engineers. Signatures of three Members , or Associates. Year Place of birth Year of birth Education, when,, where and how acquired, with degrees, if any. A technical education is not requisite for membership. Dates Please give record of experience on following page with dates; for example, in the form used by "Who's Who In America" and similar publications.

Jan 8, 1917

AMERICAN INSTITUTE OF MINING ENGINEERS 29 West 39th Street, New York, N. Y. PROPOSAL FOR MEMBERSHIP Mr.. Address Member is hereby proposed by the undersigned, as a Associate Junior Member .of the American Institute of Mining Engineers. Signatures of three Members or Associates. Place of birth, Year of birth_ Education, when, where and how acquired, with degrees, if any. A technical education is not requisite for membership. Data Please give record of experience on following page with dates; for example, in the form used by "Who's Who In America" and similar publications.

Jan 10, 1917

By J. F. Wolff

J. G. WOLFF, Duluth, Minn. (communication to the Secretary*).-In raising the question (" Newly Discovered Fossil Remains in the Cretaceous Shale," p. 1784) as to the possibility of the so-called Cretaceous remnants found on top of Mesabi Range orebodies really being Jurassic, the writer was acting under a wrong impression. In speaking of the matter with different geologists of note who have visited Northern Minnesota during the past year, lie understood one of them to refer to Jurassic shales existing quite extensively in Northwestern Minnesota. This apparently was entirely a misunderstanding. In answer to an inquiry in regard to this matter, Prof. W. H. Twenhofel, paleontologist at the University of Wisconsin, said that the known Jurassic nearest to Northern Minnesota is in Western Dakota. From the reproductions of fossils shown on p. 1785, Prof. Twenhofel tentatively correlated them as "middle-upper Cretaceous."

Jan 2, 1917

By B. L. Averbach, Morris Cohen, S. A. Kulin

The martensitic transformation can be initiated by elastic stresses at temperatures above M. in a steel containing 20 pct Ni and 0.5 pct C. Shear strains and normal tensile strains acting on a potential habit plane promote the transformation but compressive strains oppose it. THE strain sensitivity of the martensitic transformation has long been recognized. It is now well known that martensite formation can be induced by plastic deformation at temperatures below, and not too far above, the M, point.' However, the exact role of elastic vs. plastic strains and of the concomitant stresses has proved to be a very elusive matter. Many investigators2-' of the steel hardening reaction have made use of the stresses resulting from volume changes to account for such observations as the existence of retained austenite and its variation across the section of a bar, the change in the amount of retained austenite with quenching rate, and the self-stopping nature of the transformation when the cooling is stopped. The effect of applied strain as an independent variable has been studied in 70 pct Fe-30 pct Ni alloys by Scheil7 and McReynolds.8 Some data are also available for lithium and Li-Mg alloys,9 Cu-Zn,10 Cu-Sn and Cu-A1 alloys," and aus-tenitic stainless steels."-" It has been found that martensite formation can be induced isothermally, even at temperatures above M,, by mechanical deformation of the parent phase. The competitive nature of plastic yielding by slip and by the martensitic reaction has been depicted by Scheil.7 Basically, Scheil postulated that: 1—at temperatures not too far above M, (where austenite is less stable than martensite), a critical resolved shear stress (within the elastic range) is required to promote the transformation to martensite; 2—at and below M,, the austenite lattice becomes mechanically, as well as thermodynamically, unstable and shears over spontaneously into martensite without the application of external stress; and 3—at temperatures sufficiently far above M8, the critical resolved shear stress for martensite formation increases to a level above that required for slip, and plastic flow then supersedes the transformation when external stress is applied. Scheil's concepts were tested by McReyno1ds8 ho found no change in the elastic moduli (measured both statically and dynamically) of 71 pct Fe-29 pct Ni alloys in the vicinity of the M, temperature. Since the moduli did not approach zero or become negative on cooling to M,, it was concluded that the austenite lattice does not become mechanically unstable at M2, as postulated by Scheil. McReynolds also reported that M, is not raised by elastic stresses. Accordingly, plastic deformation was considered to stimulate the transformation by generating martensite nuclei in the distorted regions of the parent phase. The above issues with regard to the role of applied stress require clarification, if a basic understanding of the martensitic transformation is to be obtained. For example, in the reaction-path theory,'"," it is postulated that strain embryos exist in the austenite that provide part of the activation energy for the nucleation process. These embryos are visualized to be regions of localized strain in which the atoms in the austenite lattice are displaced part way along the path to their ultimate positions in the martensite. Consequently, it would

Jan 1, 1953

By Norman J. Gibbs, John Sroka

INTRODUCTION At the point a company decides to begin mine development and wishes to convince lending institutions that the proposed operation will return their borrowed funds, plus interest, over the terms of the loan, communications between lender and borrower are crucial. The importance of the mine feasibility presentation should not be underplayed, especially as new projects continue to increase in size, complexity, and cost. While the content and emphasis of a report to the lender will vary according to the particular project and type of debt financing sought, there is a general base of information upon which all such studies are built. THE PROJECT'S TECHNICAL ASPECTS Here, the object is to satisfy the lender that he will not be unduly exposed to technical risks as a result of the physical scope of the project. Reserves The feasibility report submitted to financial institutions should include an adequate description of the geologic setting, mineralogy, ore types, and reserves broken down into such recognized categories as proven/probable/possible or measured/indicated/inferred. Rather than a bald statement of reserves, lenders prefer to have detailed information on: History of exploration Drilling, both percussion and core, with core recovery, drill hole spacing, analyses, and continuity of mineralization Bulk sampling, with core assay comparisons Overburden, with stripping ratios Specific methodology of reserve calculation, and Geologic reserves vs. mineable reserves. As a rule of thumb, a lender would prefer to see that reserves in the proven class alone are sufficient to support operations at the design rates until the borrowed funds are repaid. (See also Schreiber above in this Chapter.) Mining The rationale for adoption of a particular mining technique should be presented as well as descriptions and justifications for: Preproduction development Preliminary mine plan, with forecasts of grades and material movements Geotechnical test work which influenced decisions Mining recoveries and efficiencies Major equipment, with type, model, rating life, spares, replacement schedules, utilization, and productivity Manpower requirements and work schedules Design assumptions Ore stockpiling and blending Environmental requirements, and Waste disposal Processing If a new ore body is to be developed or a new process used, it is important to provide details of test work, scale up, and extrapolation factors. A basic process description with a summary of the studies which justify the intended processing route should be included with the following data:

Jan 1, 1985

By H. W. Hitzrot, R. A. Limons, L. V. Fegan

The authors have developed and tested a new method for measuring pellet-bed temperatures in the traveling-grate or the shaft furnace. This method-using silver-palladium alloy wires as indicators-is less costly and less time-consuming than existing methods. Silver palladium wires, having specific melting points in the 2000° to 2500°F range, are enclosed in ceramic capsules. Each capsule is placed in a nichrome wire basket filled with a sample of green pellets, the baskets being the means for recovering the capsule after firing. After the encapsulated wires have been exposed to the firing cycle, the alloy wires are examined to determine the maximum temperatures attained by the pellet sample. This gives accurate, rapid determinations of maximum temperatures attained during pellet induration in either the traveling-grate or shaft furnace.

Jan 6, 1965

By D. M. McFarland

A FEW years ago a novel electric detonator known as the split-second or millisecond delay electric blasting cap was introduced for use in quarry blasting. Regular electric blasting caps fired in series may be depended upon to fire within a millisecond or so from the first to the last in a series. Regular delay electric blasting caps are provided that fire one period after the other period in intervals of 1/2 to possibly 11/2 sec. Most split-second or millisecond delays are designed to fire one period after the other period in possibly 25 to 50 millisecond intervals. The ear is not capable of detecting time intervals of this magnitude. The primary thought at the time millisecond delays were introduced was to investigate the results on rock breakage by firing a line of holes in a quarry face so that charges in adjacent holes would not be detonated simultaneously. This could not be accomplished satisfactorily with regular delays. The time interval between successive periods of 1/2 to 1 sec was sufficient to permit considerable movement of the burden. If the burden of one hole was reduced to a great extent by the firing of an adjacent hole, the firing of the hole with the reduced burden would likely reveal this lack of confinement by a terrific report and wild throw of rock. In the early blasts with millisecond delays it was observed that instead of the usual sharp report, the blast had a muffled sound and vibration was not as perceptible as when simultaneous firing was used. Because many quarry operators were being threatened with injunctions or suits for damages by neighbors who claimed structural damage to their buildings, millisecond delays were tried extensively in quarries. In the majority of these trials, the results were very satisfactory. The seismologists recorded the ground movement created by many blasts and verified the initial observations that millisecond delays could be used to reduce vibrations appreciably. In the past few years the advantages of this principle of nonsimultaneous firing of the charges in blasts has become generally accepted. Today the quarry operator who has vibration troubles, inadequate breakage, and excessive backbreak and has not investigated the possibilities of millisecond delay blasting is ignoring a remedy that has proved satisfactory for many. His complacency may be costing him money. Because of the results attained in quarry blasting, it was logical that millisecond delays should be tried in construction work such as in road cuts. As formations in this type of work are likely to change rapidly with advance of the cut, it is more difficult to evaluate results than in quarry blasting. However, this improved control over timing has been beneficial in limiting throw, promoting fragmentation, and reducing overbreak. In blasting near buildings the reduction in vibration and in throw has been especially helpful. As blasters employed in construction work learn what may be accomplished by closer control over the time of firing of explosives charges, more and more millisecond delays are being used to supplant instantaneous electric blasting caps. Improved Fragmentation Underground With this background of promising results, it was not surprising that millisecond delays should go underground. In limestone mining use of millisecond delays as compared with use of cap and fuse or electric blasting caps showed improved fragmentation in stopes and in slabbing operations. Then an opportunity developed to use millisecond delays in some tunnels being driven in a limestone mine (fig. 1). Using the normal charge employed and merely substituting three millisecond delay periods for three regular delay periods, there was a noticeable difference in the appearance and the position of the pile of rock after a blast. A greater portion of the face was exposed, the crest of the pile was farther from the face, and the pile was heaped high along the center line of the tunnel leaving room to walk along the ribs to the face. Fragmentation was appreciably increased. It gave the impression that the slabs had been thrown against each other with tremendous force, promoting the movement of the broken rock along the center line of the tunnel away from the face. Because the drilling and the charge weights were unchanged, the evidence was convincing that the difference in timing was responsible for the difference in results. Probably a greater portion of the energy from the explosives had been expended in doing useful work on the rock. Zeros followed by two periods of millisecond delays were used in the V cut and in two slabs to either side of the cut in this simple round. When millisecond delays, substituted period for period for regular delays, are first tried in a drift round in a mine, and the usual charge of explosives

Jan 1, 1951

By D. M. McFarland

A FEW years ago a novel electric detonator known as the split-second or millisecond delay electric blasting cap was introduced for use in quarry blasting. Regular electric blasting caps fired in series may be depended upon to fire within a millisecond or so from the first to the last in a series. Regular delay electric blasting caps are provided that fire one period after the other period in intervals of 1/2 to possibly 11/2 sec. Most split-second or millisecond delays are designed to fire one period after the other period in possibly 25 to 50 millisecond intervals. The ear is not capable of detecting time intervals of this magnitude. The primary thought at the time millisecond delays were introduced was to investigate the results on rock breakage by firing a line of holes in a quarry face so that charges in adjacent holes would not be detonated simultaneously. This could not be accomplished satisfactorily with regular delays. The time interval between successive periods of 1/2 to 1 sec was sufficient to permit considerable movement of the burden. If the burden of one hole was reduced to a great extent by the firing of an adjacent hole, the firing of the hole with the reduced burden would likely reveal this lack of confinement by a terrific report and wild throw of rock. In the early blasts with millisecond delays it was observed that instead of the usual sharp report, the blast had a muffled sound and vibration was not as perceptible as when simultaneous firing was used. Because many quarry operators were being threatened with injunctions or suits for damages by neighbors who claimed structural damage to their buildings, millisecond delays were tried extensively in quarries. In the majority of these trials, the results were very satisfactory. The seismologists recorded the ground movement created by many blasts and verified the initial observations that millisecond delays could be used to reduce vibrations appreciably. In the past few years the advantages of this principle of nonsimultaneous firing of the charges in blasts has become generally accepted. Today the quarry operator who has vibration troubles, inadequate breakage, and excessive backbreak and has not investigated the possibilities of millisecond delay blasting is ignoring a remedy that has proved satisfactory for many. His complacency may be costing him money. Because of the results attained in quarry blasting, it was logical that millisecond delays should be tried in construction work such as in road cuts. As formations in this type of work are likely to change rapidly with advance of the cut, it is more difficult to evaluate results than in quarry blasting. However, this improved control over timing has been beneficial in limiting throw, promoting fragmentation, and reducing overbreak. In blasting near buildings the reduction in vibration and in throw has been especially helpful. As blasters employed in construction work learn what may be accomplished by closer control over the time of firing of explosives charges, more and more millisecond delays are being used to supplant instantaneous electric blasting caps. Improved Fragmentation Underground With this background of promising results, it was not surprising that millisecond delays should go underground. In limestone mining use of millisecond delays as compared with use of cap and fuse or electric blasting caps showed improved fragmentation in stopes and in slabbing operations. Then an opportunity developed to use millisecond delays in some tunnels being driven in a limestone mine (fig. 1). Using the normal charge employed and merely substituting three millisecond delay periods for three regular delay periods, there was a noticeable difference in the appearance and the position of the pile of rock after a blast. A greater portion of the face was exposed, the crest of the pile was farther from the face, and the pile was heaped high along the center line of the tunnel leaving room to walk along the ribs to the face. Fragmentation was appreciably increased. It gave the impression that the slabs had been thrown against each other with tremendous force, promoting the movement of the broken rock along the center line of the tunnel away from the face. Because the drilling and the charge weights were unchanged, the evidence was convincing that the difference in timing was responsible for the difference in results. Probably a greater portion of the energy from the explosives had been expended in doing useful work on the rock. Zeros followed by two periods of millisecond delays were used in the V cut and in two slabs to either side of the cut in this simple round. When millisecond delays, substituted period for period for regular delays, are first tried in a drift round in a mine, and the usual charge of explosives

Jan 1, 1951

Ocean environmental factors are an intriguing new set of parameters to be dealt with in the prospecting and exploration phases of resource development for both the continental margins and the deep ocean. While information and data gathering programs for ocean minerals would parallel onshore procedures, their costs generally run higher. Commercial Prospecting-Identification of Mining Sites Two modes of prospecting can be identified-commercia1 prospecting (in which the ultimate objective is to define potential mining sites), and scientific prospecting, which is conducted with different objectives in mind. For ocean exploration, both types of prospecting are carried out prior to the obtaining of any exclusive rights to explore and exploit a specific deposit. Deepsea's John Flipse adds: "Any commercial prospecting program should by its very nature require the freedom to search wherever minerals might occur with maximum flexibility."

Jan 4, 1975

By Karl Sundberg

INTERESTING results were recently obtained in geophysical prospecting at the Questa mine of the Molybdenum Corpn. of America in New Mexico. This paper describes that survey, which was carried out during October and November, 1927, by the Swedish American Prospecting Corpn. It is hoped that the paper will make it possible for the mining man to form an opinion of the applicability of geophysical prospecting under difficult conditions, showing, as it does, the results when prospecting for small small orebodies with comparatively poor conductivity, in a region of rough topography. Some principles underlying electromagnetic prospecting not known to be published previously will also be given in an elementary way, with special attention to the general structure of the electromagnetic field. GEOLOGICAL CONDITIONS AT QUESTA The property is situated in the Taos range of the Rocky Mountains in northern New Mexico. About this region, L. C. Graton says:1 The main range is made up of pre-Cambrian granites, gneisses and schists but in the vicinity of Red River igneous rocks of later age are present almost to the exclusion of the older series. These younger rocks are divisible into two groups. The older of the two, probably pre-Tertiary age, is represented by large intrusive masses of monzonite porphyry, usually containing considerable quartz. The more recent group comprises intrusive' and probably effusive dark-colored andesites and coarse andesitic breccias, some of which contain fragments of the monzonite; there are also flows of rhyolite and beds of rhyolite breccia. The evidence regarding the relative age of the andesite and the rhyolite is not wholly satisfactory, but there is little doubt that the andesite is the older. The ore deposits, although occurring more commonly in the monzonite porphyry than in the rhyolite, nevertheless are believed to be genetically related to the rhyolite. They certainly cut the rhyolite or andesite in places, and hence fall in the late Tertiary.

Jan 1, 1928

By Graham Bright

THE rapid increase in reliability, the low cost f operation, the ready application of safety devices, and the growing availability of central-station power have made the question of installing a hoist of the electric type no longer debatable. Where adequate electric power is available, there are few cases where it would be advisable to install a steam or air hoist. The type of electrical equipment depends largely on the nature of the power supply, its capacity, and the form of the power contract under which power is purchased. In a large majority of cases, the available electric power is alternating current, three phase, 60 cycles. There is, however, considerable 25-cycle power in use; and in a few instances constant voltage direct current is the only power available for a small or an occasional medium-size hoist. Where a new hoist is to be installed, the designer of the mechanical parts can readily take care of the maximum stresses likely to be imposed by the' motor. Where the hoist is already installed and operated by steam or air and it is desired to substitute an electric motor for the engine, a careful check should be made to determine the advisability of using the old mechanical parts. In most cases it is better to install a complete new hoist than to attempt to use old mechanical parts. A steam engine has a definite maximum torque, which the hoist has been designed to withstand, while a motor may be able to deliver momentary torques beyond the strength of the mechanical parts of the hoist. The selection of the proper type of electrical equipment can only be made after complete information is obtained and certain calculations made to determine the capacities required. There are several methods used in making hoist calculations, but no matter what method is utilized a fair degree of familiarity with hoists and hoisting conditions is necessary before an intelligent analysis and proper selection can be made.

Jan 9, 1921

By R. G. Lazzell

THE British are worried about the postwar possibilities of their coal mining industry. Indeed, there are causes for this worry, with the aver- age 1943 cost of production at about $5.40 per long ton, compared to $3.20 in 1938. Average production per man day has dropped from 1.12 in 1938 to 1.03 long tons in 1943. As a comparison, production per man day in the United States is approximately 5 long tons. The average day wage in the British mines is now a little aver $4; in 1938 the average day wage was about $2.25. Great Britain produced 227 million long tons in 1938 from their deep mines, and in 1943 production was 194.5 million, with an additional 4.5 million from strip mines. To meet present wartime needs, output is being supplemented by the production of strip- mined coal, an industry that did not exist prior to the war. Strip mining is now producing at the rate of 15 million long tons per year.

Jan 1, 1944

By C. J. Bonnecarrere, P. A. Jr. Bloomer, J. Hunter

Since 1941 not more than 15 per cent of aii wildcat wells drilled in Louisiana have been successful. This figure is not too discouraging, especially in view of the fact that during the same period approximately 80 per cent of all wells (average 701 wells per year) drilled in or adjoining producing areas were successfully completed. However, a somewhat discouraging aspect concerning Louisiana's wildcat completions is that in 1942 only 12 out of 20 fields found were oil fields; in 1943, only 13 out of 24; and in 1944, only 8 out of 21. This means that an operator has less than a 50:50 chance of finding an oil field. In other words, it is more likely that he will find a gas-condensate field. This fact has become increasingly evident as the data for each year are compiled and compared. Yet, strangely enough, operators are reluctant to accept this fact and plan accordingly. Certainly they cannot continue to search for oil fields and, for the most part, end with shut-in gas-condensate wells. The reason for shutting in is that there is no immediate and satisfactory market for all the gas being discovered. The solution, and it is a very satisfactory one, as experience in Louisiana has already demonstrated, is cycling. The advantages of this type of operation of gas-condensate fields, especially where the entire field is pooled and unitized, should be self-evident. These advantages will become increasingly more important, especially now that legislatures, regulatory bodies, royalty owners, and others are beginning to realize that "reasonable development" in a field is not indicated by the number of wells completed, but rather by the method of development. To complete a great many wells that can produce at only, partial capacity is waste. Producing hydrocarbons from these wells and not subjecting them to processing by surface operations, in order to recover all liquefiable hydrocarbons, is waste. Permitting bottom-hole pressures to drop or gas-oil ratios to increase because of excessive production is waste. Loss of leases and of wells because of inability to produce or to meet lease obligations is waste. Therefore, it is becoming increasingly apparent that a reservoir entirely pooled and unitized with a minimum number of completions, but over which there is exerted careful control so as to provide maximum recovery and the processing of all hydrocarbons brought to the surface, is the only logical and reasonable method of developing a gas-condensate field. Oil Production Twenty-one new fields, including three rediscoveries, were found during 1944. Three of these new discoveries—Delhi in northeast Louisiana, Good Hope in southeast Louisiana, and West Tepetate in southwest Louisiana—should add considerably to Louisiana's oil reserves. The other discoveries were either gas condensate or of apparently little consequence. State-wide productioll for 1944 was 1366 million barrels of crude oil and condensate; amounting to about 8.1 per cent of the

Jan 1, 1945

By Su Zhen

Based on the technical features of the Feng- huang-shan concentrator, the authors have designed a new scheme for optimal search and self-adaptive control in flotation process, in order to apply computer control to the concentrator. Hence, a plant test of optimal control in bulk flotation of copper and iron sulfides was successfully carried out. The control parameters are xanthate addition, pulp level, and amount of aeration, etc., in flotation cells. Two mathematical models of multiple parameters established by the authors were adapted and flotation efficiency was used as an objective function in the control.

Jan 1, 1984

By John K. Hammes

INTRODUCTION This introductory paper presents a description and definition of what the finance function is and what it specifically means for the mining industry. In its simplest terms, finance is, "management of money matters". As an area within the discipline of business administration it draws heavily on the related fields of economics and accounting, and to a lesser extent on marketing and production. MINING FINANCE DEFINED In preparing to write about what finance means to the mining industry, I asked a number of mining people the question, "What does mining finance mean to you?" Most responded that mining finance was "How a company borrowed money for mine development", and perhaps half those questioned included "raising equity" in the definition. It is not surprising that the mining industry concept of finance is the providing of funds needed for the objectives of the business, for that was once a view shared by authorities in the field of business administration. Further, it is certainly the area where much of the emphasis has been placed in the past ten to fifteen years as the industry struggled with the development of more remote and more refractory or lower-grade orebodies while profitability and internal cash flow were below expectations. No wonder project finance became such a popular topic. Twenty years ago it is probable that the emphasis would have been on mine valuation, for that subject was the area of finance then most often examined in industry publications. Papers concerning the pros and cons of payback, internal rate of return, and discounted cash flow appeared regularly. Let's examine the following situations, each the result of a financial decision: - Funding the exploration program in a developing country was accomplished by buying the next six-months budget needs in local currency. One week later the currency devalued 30 percent. If the purchase had been delayed or the local currency borrowed short term, a substantial saving would have been made in funding the program. - A major mining company borrows heavily to finance both expansion of its primary mining business and its entry into several new industry segments. When markets for all of the commodities it produces turn down for a prolonged period, there is concern over the adequacy of cashflow to cover debt service in addition to other company needs. The company's financial officers, however, had arranged very large committed credit facilities from numerous financial institutions which assured the availability of funds for several years. This enabled the company to implement a strategy to conserve cash, sell assets and survive until conditions improved. Further, short term suppliers of credit also were comfortable with the assurance that longer term credit was there to support them. -A medium size mining company financed several mines independently with limited obligations on the part of the parent company. The company decided to refinance the operations under one agreement. More flexible terms, lower interest cost and a longer tenor financing were achieved in return for assuming the risk as a direct obligor. - The exploration and development group of a large mining company proposes to develop a new mine in a country in which the company does not presently operate. When the investment is rejected they are advised that one reason was that the reinvestment assumption inherent in the discounted

Jan 1, 1985

By A. O. Bartell

Do you know that valuable clues to the geology and mineralization of a district can be found in a handful of sand from a stream bed draining the area? This handful of sand has a story to tell to those who have a little patience. The handful of sand may contain tiny specks of valuable minerals (gold, scheelite, cinnabar, chromite, tourmaline-to mention a few), that will lure you upstream with the hope of uncovering a new deposit. More practically, this handful of sand can indicate the type of rocks that are exposed by the drainage system. Any mineral that has a specific gravity of 3.5 or higher can be separated from soil by panning. Garnet and pyrite, for example, can indicate an outcrop of metamorphic rock. In one district where the writer prospected, small boat-shaped orthorhombic crystals of topaz always indicated the presence of andesite outcrops.

Jan 1, 1948