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By Tomek Ulatowski

INTRODUCTION In 1974, Industrial Miners Mexico, S.A. (IMMSA), agent for the borrowers, was the largest privately-held mining, smelting, and refining company in Mexico (accounting for 32% of Mexico's nonferrous metal and coal production in 1974), the fourth largest company in terms of sales, and the second most profitable company in Mexico, excluding government wholly-owned and operated industries. The company was engaged in the mining, smelting and refining of coal, copper, fluorite, gold, lead, silver, zinc and related by-products for domestic consumption and export. A combination of favorable factors led IMMSA to propose an investment plan amounting to US$286 million for 1974 through 1978, of which US$150 million was to be financed. These factors included: Substantial profits in 1973 and 1974 Positive near-term outlook for metal prices Success of the reinvestment program in increasing productivity Substantial additions to proved reserves during 1973-1974 and Fiscal incentives provided by the Mexican government to stimulate investment in the mining industry. The primary purpose of the investment program was to construct a new electrolytic zinc refinery and to expand and modernize many of the company's existing mining and refining facilities. THE BORROWER Company History Compania Miners Mexico, S.A. was incorporated in the city of Monterrey in 1918 as a wholly-owned subsidery of ASARCO Inc. (formerly American Smelting and Refining Company, New York) for the purpose of mining and processing non-ferrous metals and related products. In compliance with the Government's Mexicanization program, ASARCO Inc. divested itself of 51% of its equity in Compania Miners Asarco, S.A. on June 30, 1965. Subsequently, ownership in the divested share was apportioned as follows: 15% ownership in Compania Miners Asarco, S.A. to a group of private investors, and 36% in trust for subsequent public sale. The company's name was changed to Asarco Mexicana, S.A. in 1965. Mexican ownership in Asarco Mexicans, S.A. was increased to 51% in 1967, following the purchase of the 36% share ownership held in trust, and then to 66% in 1974 when ASARCO Inc. divested itself of an additional 15% of its holdings in Asarco Mexicans, S.A. Following its 1974 divestiture of 15% of Asarco Mexicans, S.A., ASARCO Inc's ownership in Asarco Mexicana, S.A. was reduced to 34%. In 1974, the company changed its name for the second time to Industrial Miners Mexico, S.A. (IMMSA). Fiscal Agreement IMMSA entered into a fiscal agreement with the Mexican government in 1969. The agreement, which was renewed in 1974, provided for 100% of the production and export tax corresponding to the federal government with a minimum of 50% of the amount refunded to be reinvested in fixed assets. Further, the agreement permitted the company to

Jan 1, 1985

By J. S., Douglas

IN 1880, the late James Douglas, LL.D., was superintendent of the Chemical Copper Co., operating the Hunt & Douglas process for the treatment of the siliceous copper ores of the Jones mine at Phoenixville, Pa. In conjunction with this a refining furnace was operated. After correspondence with Ben Williams, of Bisbee Ariz., who was commencing the mining and smelting of the Copper Queen ore. Dr. Douglas decided-to make his first journey to Arizona. While making plans for the trip lie visited a friend in Philadelphia, a .Mr. Logan, a prominent lawyer. He, through Professor Treadwell, brother of the discoverer of the great Treadwell gold mine of Douglas Island, Alaska, had an option with his min¬ing partner, Mr. Lenig, on the Eureka and Wade Hampton claims near the headwaters of the Verde River in Yavapai County, Arizona. These two claims, later the source of practically all of the wealth of the Jerome district, were then owned by C. P. Head and Co. Prescott merchants. Hugo Richards, banker, and formerly sutler at Camp Apache; Rod and John McKinnon prospectors and Nova Scotians; and perhaps one or two 'other owners of minor interests. Mr. Logan, hearing of Dr. Douglas intended trip to Bisbee, asked him to go first to see the two mining prospects, and this, Douglas, in need of the $500 fee, agreed to do as the time on the option on the claims was running short.

Jan 1, 1935

By Archer E., Wheeler

Producing copper companies were active during 1941 owing to the national defense program the United States and the requirements of the friendly belligerent nation. This activity extended to the American owned properties in South America, the major part of whose product was taken by the Metals Reserve Co., a U.S. Government agency. Anaconda Copper Mining Co. is building a new converter plant at Anaconda, with four units of the Peirce-Smith type. The addition is being built adjacent to the reverberatory plant so as to avoid the necessity of hauling matte and slag. It is expected to be completed this year.

Jan 1, 1942

By Philip D. Wilson

SPEED is essentiaI in this war program and it is hard to keep up with developments. When the title of this paper was chosen, the contemplated magnesium production for which plants were then under construction was some 200,000 tons of metal per year or sixty times the 3350-ton production in prewar 1939. A few- days later an analysis of the President's 185,000-plane pro-gram, incendiary bomb schedules, and the additional requirements of the Army. Navy and Maritime Commission made it apparent that a much greater amount of magnesium must be provided in 1943. The new figures are huge but the censor will not per-mit their disclosure.

Jan 1, 1942

By Charles H. White

METHODS in colorimetry are based on the assumption that the intensity of the color of a definite volume of solution is directly proportional to the quantity of the color-producing substance' present. In the preparation and examination of colored solutions there are three ways in which the depth of color may be varied. These variables are; (1) the quantity of the coloring matter, (2) the quantity of the solvent, or the dilution, and (3) the thickness or depth of that portion of the solution examined. With these three variables as a basis, three general methods in colorimetry have been devised, all of which have been used in the determination of carbon in steel. In the first method, the quantity of the solution is kept the same for both the unknown steel and the standard, and the sections compared are of equal thickness, while the quantity of the standard is varied until the color obtained is of the same intensity as that produced by a definite quantity of the unknown steel. In laboratories where this method is used there is pre¬pared and kept for permanent use a series of solutions with varying amounts of the standard, representing the percentages of carbon from the lowest to the highest demanded in that laboratory. These standard solutions are kept in bottles, or test-tubes of equal diameter, and are arranged in series from the faintest to the most intense color, so that it is a simple matter to find the place of the unknown steel in the series, when the solution is of a definite volume and is contained in a tube of the same diameter as the standard tubes. In the second method, equal quantities of the standard and of the unknown steel are dissolved, the standard is diluted to a definite volume, and the solution of the unknown steel is di-

Sep 1, 1906

By Chester A. Fulton

SUPPLYING as it does a necessity for healthy animal and vegetable phosphate production is a most important industry. We human beings also are animal as this war so surely proves. Unlike many other elements no substitnite is available for phosphorus or its compounds. Marvelous as are modern plastics none can lake the place of phosphorus in making hone structures. As meassured in these times the phosphate industry is not a large industry. Output of phosphate rock, the original source of our agricultural and ,chemical phophates amounts to only some twelve million long tons per annum in the entire world. Phosphates are compounds of phosphorus, which is always found in nature combined with other elements. It never occurs in nature as such. The first choice of the element phosphorus is tie itself strongly to oxygen and then to water moisture - thus becomeing phosphlic acid. This phosphoric acid in turn hunts around for a base such as lime for instance and together they make phosphate of lime.

Jan 1, 1944

By S. Frederick Ravitz

IN most applied sciences there are two distinct methods of carrying out research and development work. One of these, the theoretical, attempts to solve problems that may arise and to predict facts of practical importance by the application of the various laws of science, the other, the experimental method, attempts to each the 'same goal by obtaining data and trying out various processes in the laboratory. Since individuals frequently find themselves better adapted for one or the other type of procedure, it is natural that -two groups should 'arise, both working toward the sane objective but with somewhat different points of view, although many in each group are thoroughly competent in both fields. Metallurgy, in particular, offers an excellent opportunity for a comparison of the two methods.

Jan 1, 1935

By I. H. Warren, E. Devuyst

A review of the physical and chemical aspects of the direct leaching of metal oxides has been given and com- pared to recent data of the authors and co-workers. The physical aspects, including the anisotropy of the dissolution, the hydration and the zero point of charge of some metal oxides are discussed first and then the kinetics of the dissolution of metal oxides are considered. A general mechanism of the leaching of oxides which describes most of the observed results is proposed.

Jan 1, 1973

By L. C. Morganroth

Magnesites are of two general classes - massive and crystalline.

Jan 1, 1915

By IRVING H. WENTIVORTII

(New York Meeting, February, 1912.) THE little town of San Nicolás, Tamaulipas, Mexico, lies approximately 60 miles east of Linares, situated in the State of Nuevo Leon, and 150 miles SE. of Monterey, as shown in the sketch-map. Fig. 1. The place is reached from Monterey by the Tampico train as far as Linares, a distance of 92 miles, and then by coach the rest of the way. It is situated in a narrow valley between low hills, the houses forming one main street and a plaza. It is peopled by about 500 inhabitants. The climate is temperate, the thermometer ranging from 90° in summer to a few degrees below freezing-point in winter; but this severe weather only lasts a day or two at a time, when the " northers " blow. There are no streams in the vicinity, but water sufficient for the use of the people is obtained from wells. The rainfall is about the same as that in the rest of NE. Mexico. The rainy months are July, August, and September. The rest of the year is practically dry, with an occasional showery day or two during the winter, when a " norther " is blowing. Timber is abundant in many localities. There are two varieties of oak, besides mesquite, ebony, "maguira," "patol," and a number of other kinds of trees indigenous to this region. I. HISTORY. On the discovery of the silver-lead hearing veins occurring in this district, the mining-camp of San Nicolás was founded in 1767 by the Spaniards, and numerous mines were opened and worked for a distance of abort 3 miles east and 5 miles west of the town. At the western extremity and near the Carrolena mine, a small town called San Pedro was built. The ruined walls of the houses form a single street, and all is over-

Aug 1, 1912

By Norman C. Stines

Russia's mineral potential is a secret that has been effectively kept by the Iron Curtain. There is no conclusive data and because of its extreme importance to the Free World, the subject is greatly discussed. Opinions range from those presented by Paul Tyler in his article "Russia's Mineral Potential," June issue of MINING ENGINEERING to those of Norman C. Stines, presented herewith. Mr. Stines is a consulting mining engineer of Los Gatos, Calif. He was in Russia, China, and Manchuria from 1909 to 1918 as a mining executive. From 1917 to 1919 he served as assistant military attache Intelligence Branch U. S. Army in Petrograd, Russia.

Jan 11, 1951

By Simon D. Strauss

What are future prospects for U.S. mining? In many quarters the assumption is made that this country has passed its zenith as a mineral producer -- that it is in a period of decline and that it is becoming a have-not nation like Japan and much of Western Europe. These industrial rivals of ours must depend almost entirely on others for their mineral supplies. In trying to answer this question one must of course distinguish between resources and productive capacity. In today's volatile and competitive markets, the definition of what are reserves and what are merely identified resources becomes ever more difficult. Many large deposits have been found that are unlikely to be viable in the marketplace under normal conditions but that can be of significance to the nation's military and industrial security in times of emergency. I should like to draw on personal experience from World War I1 for illustration. 4fter Pearl Harbor great concern developed over the availability of a long 1ist of strategic materials for which this country was largely dependent on imports. Included were a number of minerals of which domestic deposits had been identified. Among these were chromite, manganese ore, mercury, mica and tungsten.

Jan 1, 1982

By William R. Chedsey

ALTHOUGH few changes can be reported in educational methods at the mineral technology schools during 1940, other events have taken place of direct interest to, and that will have a profound effect upon, mineral industry education on the United States. In the erection of new buildings, some notable changes have been made on the campus, The U.S. Bureau of Mines Experiment Station at the University of Utah, Salt Lake City, was dedicated on May 20. The construction and equipment of this building cost between $300,000 and $400,000. It will be the general headquarters for the metallurgical division of the Bureau and will have a pronounced effect upon the mineral industries research program at the University.

Jan 1, 1941

By Ballard H. Clemmons

THE future of the steelmaking industry of the Birmingham, Ala., district is closely related to and, in a large measure, dependent on the development of workable, economic processes of ore concentration. Operations thus far in the area have been possible only because of the fortuitous occurrence of iron ore, fluxing stone, and coking coal-all the primary iron-making materials- within a 25-mile radius of the blast furnaces. Commercial ore of the district consists mainly of a 10 to 20-ft hematite-calcite-silica bed locally known as the "Big Seam," a component of the Clinton formation of Silurian Age. At present mining rates, this ore will be available for a number of years. It is largely mined under 1000 to 2000 ft of cover and transported on 15 to 20" slopes that, in some instances, are as much as 10,000 ft long. Under these conditions, particularly with increasing distances from face to portal, mining costs are gradually becoming disproportionately high. Although not a major factor thus far, it should also be noted that the average annual ore output of the district is gradually be- coming more siliceous.

Jan 1, 1950

By Y. C. Liu, R. H. Richman

The effects of gel,manium and tin on the deformation and 9-e-crystallization textures of copper have been explored in detail with in the copper-rich terminal solid solutions. Addition of solute to copper produces a change in deformation texture from the copper type to the 70 :30 brass type. This transition has been measured quantitatively The types mid proportions of recrystal-lization components have been determined as a function of com-position, and correlation of recrystallization components with specific deformation components is discussed. On the basis of information available in the literature, it has been suggested that the effect of solute elements on the recrystallization texture of copper

Jan 1, 1961

By NEWTON B. KNOX

THE war has forced the principal industrial nations of the' world into the strait jacket of a closely controlled economy; taxes have been heaped upon all enterprises in order to maintain the armed forces and to deprive the people of the ability to bid for goods now unavailable. These restrictions, controls, and taxes are unlikely to disappear entirely after the war has been won, for debts will remain to be paid with a long period of difficult readjustment. Although the new economy will doubtless offer plentiful opportunities for the advantageous use of capital, no investor can ignore the favorable conditions offered by industry in Latin America, where taxes are relatively low and the restrictions on free enterprise comparatively mild. In mining in South America, the great international corporations have

Jan 1, 1944

By F. C. Canney

Geochemical prospecting seeks hidden mineral deposits by sampling for variations in the chemical composition of naturally occurring materials. Usually the samples are of soils and other products of weathering and erosion-surface materials extremely susceptible to contamination by human activities. Except when a survey is conducted well away from populated areas, contamination is an ever-present hazard. The program's success is particularly endangered when the contaminants are the elements sought; if these occur erratically throughout an area, spurious anomalies completely unrelated to mineralized areas can be formed. Evenly distributed contamination can be dangerous too, if it raises the background to such a level that true anomalies can no longer be easily detected. Suppose, for ex- ample, that in an area where the lead background is 20 parts per million the soil over a lead vein contains 1000 ppm of lead. Here the contrast would be 50 to 1, which is very satisfactory for geochemical surveying. Now if 1000 ppm of lead from some source were added evenly to the soil in this area, the contrast would be reduced to about 2 to 1, and the anomaly would no longer be readily detectable because a threshold of significance twice the value of the background is the minimum generally used for interpreting geochemical data.

Jan 2, 1959

By AIME AIME

OVER-ALL operations of the oil industry, as measured by production of crude oil and consumption of products, are almost exactly of the same magnitude as a year ago. Does this mean that the great oil industry has been undisturbed by the war? Has this industry, so vital to the prosecution of the war and to the maintenance of our way of life, been unaffected in its operations? No indeed - changes within the industry are great. It has been called upon to revamp its trans¬portation methods so as to move about one fourth of the total amount of crude and refined products by railroad tank car instead of by ocean-going tankers. Its fundamental internal economy, based on maximum gasoline yield from a barrel of crude, has been relegated to memories of the past. Rationing of oil products, which has been forced upon us in face of an abundant supply, is not only disagreeable medicine but is in itself completely disruptive to the marketing end of the-business.-

Jan 1, 1942

By Henry G. Granger

A RESIDENCE of 14 years in the Republic of Colombia, spent in almost continuous traveling and prospecting-trips, has given me an intimate knowledge of the resources of that wonderful country. The man who best knows Colombia is unquestionably General Rafael Reyes, President of the Republic for the past three years, and with seven years more to serve in his present term. Such is the strength of his personality and the wisdom of his policies that his term of office will no doubt endure as long as he is willing to serve. The vastly improved economic situation and the brilliant outlook for Colombia are so directly due to the influence of President Reyes that a few lines concerning him. will not be amiss, if they serve towards a better understanding of his personality. Born of a distinguished ancestry in the mountains of Boyaca, he is now 57 years old, just the age of his friend Porfirio Diaz when be began the work which has placed Mexico in the rank of great modern nations. It was Reyes who came to Washington to protest against the action of the government of the United States of America in reference to the establishment of the Republic of Panama, and, without entering into a discussion of this affair, it can be fairly said that there was not an American in Colombia whose feelings of justice were. not outraged at the government action and subsequent refusal to submit the matter to the impartial judgment of the' Hague. President Reyes is an accomplished linguist, speaking English, French, German, Portuguese, Spanish, and Italian. He has a remarkably. powerful voice, which can readily be heard by a large assemblage. His height is about 6 ft., and his weight exceeds 200 lb. He has clear gray eyes. Reyes was the leader of those who favored the approval of

Sep 1, 1908

By J. W. Mills

This paper's aim is to demonstrate, by reviewing findings and conclusions of earlier authors and through recording and interpreting the outcome of recent laboratory study of the ores, that the ores around the Gem stocks are metamorphosed equivalents of common siderite-sulfide ores far from the stocks, as was first proposed by Hershey (1912, 1913). That is, all the ores probably have the Precambrian age of 1250 million years reported by Long et al. (1960). Those near the Gem stocks, however, were extensively metamorphosed in Cretaceous time during the emplacement of stocks so their resemblance and relation to other veins in the district are camouflaged.

Jan 1, 1985