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The Secretary of the Treasury, in a recent ruling, allows 18 months from date of discharge within which former service men may reinstate their Government insurance policies lapsed f or non-payment of premiums. The point just now confronting the Bureau of War Risk Insurance and all those who are interested in the immediate and the future welfare of the young men who offered their lives for the flag and the country is that they be kept mindful that the provisions of the War Risk Act were not solely war measures, but that the framers of the Act provided insurance protection for all time to come for the boys in uniform and all dear to them. Under this ruling those making application for reinstatement will be required to pay only the premium on the amount of insurance to be reinstated for the month of grace during which they were protected, and for the current month. When the men are mustered out of the service, the insurance continues in force for one month and they are fully protected during that period even if their premium has remained unpaid. In reinstating, that month's premium will be required as well as the premium for the month in which reinstatement is effected. The ruling also stipulates that when applying for reinstatement the man must be in as good health as at the date of discharge, and so state in his application. After complying with these simple requirements, a Government insurance policy may be made as sound as on the day it was written. The Bureau of War Risk Insurance is now searching out its delinquent policy holders and offering them this renewal of Government protection. It needs the assistance of public spirited, patriotic, business and professional men everywhere, for the sake of our former service men, who must be given the information about its privileges to which they are entitled.

Jan 9, 1919

By Paul W. Chase

Centralized process control has received increasing emphasis in recent years. Its application at U. S. Steel's Minntac facility for production of taconite pellets is discussed in this paper. A brief description of the flowsheet will provide background for discussion of the process instrumentation and digital system.

Jan 1, 1969

By Robert F. Shurtz, William J. Verner

Three basic questions must be answered by an engineer performing an economic analysis of a mineral property: (1) How much can the company afford to pay for the property; (2) At what rate should the property be mined; (3) What will be the return on the investment. These questions often defy reasonable analysis, because at the point in time at which they must be answered little may be known about the grade of ore and the reserve tonnage. The purpose of this report is twofold. First, to derive a method of determining purchase price, rate of production and return on investment which is valid under varying conditions of ore grade and tonnage reserve; and, second, to apply this method to the Margay deposit in an attempt to evaluate it as a business enterprise. This is an actual economic analysis of an existing nickel-copper deposit fictitiously named the Margay. It was carried out for a mining corporation and proved to be the determining factor in the subsequent purchase and development of the property. All data referring to costs, quality and quantity of ore, etc., are accurate and truly represented. Prices used are obsolete but the method is not dependent on those variables. Basic assumptions for the analysis are given in Table I, page 71.

Jan 11, 1966

The Committee on Papers and Publications has set June 1, 1919, as the closing date for the receipt of manuscripts intended for the Chicago meeting, which is to be held Sept. 22 to 27, 1919. Manuscripts must be received by the Secretary on or before this date. If they are sent through members of the technical committees, they must be sent to those committees long enough in advance to be forwarded and in the hands of the Secretary by the time specified.

Jan 5, 1919

By Breaux B. Castleman

The ultimate test of a business strategy is whether it achieves the owner's objectives. Most shareholders are interested in growth and profits, and share values on stock exchanges are very often closely correlated with profit growth and profitability measured as return on equity (ROE). Strategic management, then, involves managing investments or resource allocations to optimize long-term growth and real return on equity, within reasonable limits of risk. Figure 1 shows a plot of the five year, weighted average ROE of a number of communications companies against their stock market valuations in 1983, measured as a ratio of market value to book value. The principal explanation of the differences in the relative valuations of the individual stocks is historical ROE, weighted toward the most recent years. Further analysis demonstrates the added importance of growth in explaining the differences in stock market to book ratios. [ ] Research conducted by Booz Allen and others in recent years suggests that the relationships between ROE and market to book multiples hold true in industry after industry. Furthermore, we have found that in assessing business strategies for companies in these industries, the analyses should focus on whether proposed strategies are likely to lead to consistent long-term growth in real ROE, without excessive leverage. Our research also reveals, however, that these approaches to strategy assessment are not consistently applicable in the natural resource extractive industries. Figure 2 shows a similar comparison of market to book values against five year average ROE for a group of nine mining companies in 1983. Market value of the shares shows little correlation with ROE. [ ] Analysis of the data for other extractive industries indicates a similar pattern; that is, low correlation between share values and

Jan 1, 1985

By J. G. Balkestein, J. W. R. Baerts

During an attempt to develop a method for accurate, rapid, continuous analysis of ash content of wal, the Dutch State Mines Laboratory found that the absorption coefficient for X-rays was related to ash content. This relationship was utilized in the development of an apparatus called CendreX, used to measure the absorption and in turn the ash content. The principle, procedure, accuracy, and applications of the CendreX automatic determination of ash in coal are discussed in detail. Until recent years coal preparation research was concentrated on the possibilities and efficiency of preparation equipment. Ever increasing demands for quality in coal, however, have caused researchers to become concerned with quality control. One of the characteristics strongly influencing quality (calorific value) and, consequently, the price of coal is ash content. Both customer and producer require that the ash content be controlled. To make this possible it is necessary for the producer to collect samples from the coal stream in the washery and to determine their ash content. On the strength of the results obtained the production process can then be adjusted, if required. Until recently incineration was the only method for determining ash content. When coal is incinerated with oxygen, it takes at least 15 min to determine the ash content. Even then some time may be lost in passing on the data. Therefore, this discontinuous and time-consuming method does not make a suitable starting point for checking, re-adjusting, or modifying the production process. Since it was not possible to accelerate incineration by mechanization and automation, another type of rapid continuous analysis had to be found. This would have to depend on some coal characteristic closely linked with ash content. At the Central Laboratory of Dutch State Mines, Dijkstra and Sieswerda found that the absorption coefficient for X-rays was suitable for this purpose. An apparatus based on the measurement of this characteristic was developed. Named CendreX,* this patented equip- *A Stamicarbon N. V. registered trademark. ment, used in combination with a sampler and conditioning apparatus, permits continuous determination of ash content with satisfactory exactness to within 3 min.t At the American Mining Congress meeting of May 1961, Log A. Updegraff, surveying aspects of continuous analyaia, reported on the CendreX appartus (Mining Congress Journal, August 1961). Since the first Condition for correct ash determination, whatever the method used, is always a sample taken in the right way, some practical aspects of sampling will be discussed first. SAMPLING In coal handling operations, each grain has its characteristic properties. In both the cross-sectional and longitudinal direction of the product stream the mixture of these grains is imperfectly blended. The elimination of the factor of segregation between the cross-sections from the direction of the stream is the principal aim of continuous analysis. Therefore, the samples to be analyzed are withdrawn in various places from the segregated product stream in such a way that they form a semi-continuous flow. In order to be truly representative of the product stream, the sample flow must fulfil two conditions: 1) The sample flow must be sufficiently large to insure that adventitious differences between the composition of the product stream and sample flow will be as small as possible. 2) All grains through the entire cross section of the product stream must have an equal chance to get into the sample flow. Since there is always a segregation through the cross section the sample flow will have a bias if the sampler collects only part of this section. In order to prevent the volume of the sample flow from becoming too large, the cross sections are taken discontinuously. However, this discontinuity gives rise to the adventitious differences that arise between the composition of product stream and the sample flow, and these differences become greater and are more deranging as the fluctuations follow each other more quickly. Moreover, the intervals between the morrnents of sampling mean a delay in the analysis. The aim will, therefore, be to collect small samples, or in other words thin cross-sectional increments, taken at sufficiently high frequencies. The following points should also be taken into account: 1) The smallest dimension of the openings in the sample collector must be equivalent to at least 3 d in

Jan 1, 1962

By E. R. Morgan, J. C. Shyne, V. F. Zackay

NITROGEN used as an alloying element in steel has received increased attention in recent years. Its merit as an austenite stabilizer and hot strengthener has long been recojinized, particularly by European investigators.' Recent work' indicates that nitrogen contents of 1/2 pet or more allow the addition of several percent of ferrite-forming hot strengtheners, such as molybdenum, without subsequent austenite decomposition at elevated temperatures. The room temperature properties of such alloys are characterized by high yield and tensile strengths with excellent ductility, even after cold working, as shown in Tables I and 11. The 1350°F creep-rupture properties of Cr-Mn-Mo-N steels are comparable to those of commercial alloys such as Timken's 16-25-6, containing 16 pct Cr, 25 pct Ni, and 6 pct Mo, as shown in Table 111. Cr-Mn steel containing 1/2 pet N must be made under pressure if ingot gassing is to be avoided. However, there are difficulties attendant to this practice. Pressure melting restricts the ingot size, and the equipment required is costlier and more complicated than comparable air melting facilities. An effort was made, therefore, to determine more economical methods of adding nitrogen. The pressures generated in centrifugal casting usually range from 5 to 10 atm and are sufficient to prevent the gassing of high nitrogen Cr-Mn steels. A centrifugal casting was made of an alloy containing 16 pct Cr, 18 pct Mn, 2 pct Mo, and 0.73 pct N. A risk, 8 in. diam and 11/2 in. thick, was cast at 1000 rpm. It has been calculated that a pressure of 9 atm was developed at the periphery of the disk at this speed. Metallographic inspection of specimens taken from the disk revealed no gas holes or other defects. The elevated temperature properties of radial and circumferential specimens taken from this casting are given in Table IV. The creep-rupture life of this cast nickel-free austenitic steel was equivalent to that of the wrought Cr-Mn-Mo-N steels. Although centrifugal casting appears to lend itself to the manufacture of high nitrogen austenitic steels, its applicability is limited to relatively small sizes. A process applicable to the production of large ingots of high nitrogen steels is suggested by low carbon rimming steel practice. Gas holes formed during ingot solidification are not detrimental so long as they weld shut during hot rolling. An economic advantage of gassing ingots is the increased ingot-to-slab yield, especially if the ingots are mechanically capped. Also, it is probable that higher nitrogen levels can be achieved with mechanically capped ingots than with hot-topped ingots. A series of gassy heats was made under both atmospheric and higher pressures, as indicated in Table V. Several of the air melted ingots were mechanically capped by chilling the molten ingot tops with a steel plate. The ingots were allowed to freeze in steel molds without hot-tops unless otherwise indicated. A comparison of Table 111 with Table V shows no significant difference in the creep-rupture properties of the gassy and the nongassy ingots after hot work- ing nor between the gassy ingots produced under different conditions. References 1 F. Rapatz: Application of Stainless and Heat Resisting Steels Alloyed with Nitrogen. Sinhl and Eisen ( 1941) 61, pp. 1073-1078. 'V. I?. Zackay, J. F. Carlson, and P. L. Jackson: High Nitrogen Austenltlc Cr-Mn Steels. Trans. ASM 119551 48, PP. 509-523.

Jan 1, 1957

By J. A. Herbst, O. A. Bascur

Fine coal cleaning by froth flotation has become common practice in the US with more than 73 kt/d (80,000 stpd) treated in this way. In spite of this large tonnage, developments in the automated control of coal flotation circuits have lagged significantly behind those for mineral systems. The primary reason is that instruments have not been available for the online measurement of carbon ash content or other critical variables in coal slurries. A second reason is that the influence operating variables have on coal flotation are not completely understood. During the last few years, some of the needed instrumentation has been developed, while an improved knowledge of the flotation process itself has occurred through mathematical modeling. As a result, certain control strategies for coal flotation are beginning to emerge. This paper attempts to evaluate several control strategies using a detailed flotation dynamic simulator, Dynafloat. After construction of a process matrix for the system of interest, promising alternatives for linking manipulated and controlled variables were analyzed. To develop combined grade and recovery control strategies, it was necessary to construct a grade/recovery map with the aid of the simulator to drive the system to known, final, feasible grade/recovery operating conditions. Finally, an advanced strategy that uses an on-line model to identify disturbances and take control actions is proposed.

Jan 1, 1986

By Frank Ruskey, Richard G. Burdick

Many problems associated with potential hazards in a proposed mining area may not be adequately appraised because of the complexity of trying to evaluate them in terms of production requirements. Frequently, encountered hazards have to be dealt with by day-to-day operational schemes that require the miner to either force a way through them or avoid them by blocking off the area in which the hazards are known to exist. These considerations, after the mine is in full production, can be costly to the mine operator and can increase the danger to the miners. A hazard-evasion computer program for mine planning that will appraise proposed mine layouts on the basis of existing or potential hazards has therefore been developed. The program is intended for use during the planning phase of a mine, where it should assist the mining engineer in making decisions in mine design, With the output from this program, the mining engineer should be able either to corroborate his judgments made on the basis of mining experience or to find unanticipated solutions to design problems. The program tests hundreds of possible solutions to a mining layout, and by sorting out the 10 best (based on a criteria of minimum-abandoned-coal) limits the number of choices that need to be considered and appraised for applicability to a given mine scheme.

Jan 1, 1976

By Samuel Doak

THE utilization of rotary kilns, of the well-known cement type, for the preparation of iron ores, for the blast furnace, has become of considerable economic importance within the past 10 years in certain localities, notably those where the native ores are lean. Such kilns may be used simply for the agglomeration of ores too fine to be charged into the blast furnace (i.e., ores whose loss in the dust catchers is excessive, and whose fineness is detrimental to the working of the furnace), or for the desulphurization of lump and fine ores the sulphur content of which does not exceed 6 or 7 per cent. The desulphurizing action can be combined with that of agglomeration provided the kiln is sufficiently large. Other processes have been developed for the same purpose, but while I am not able to draw a comparison between them by reason of lack of sufficient data, it is safe to say that the kiln, if properly dimensioned for the character of ore to be treated, will compare favorably in its results, both as to economy and quality of product, with any other process. It is not, however, as well adapted for the treatment of flue dust, as is a sintering operation, on account of the large percentage of fine coke contained therein. Any combustible entering the kiln at its feed end renders the process very much more expensive and unsatisfactory on account of the difficulty of controlling the temperature, also because of the rapidity with which long "rings" form, due to the increased heat at the cooler end of the kiln. The greatest value of the kiln at present is in the treatment of pyrites cinder; that is, the residue from pyrites ore after the extraction of the greater part of the sulphur. This cinder, while high in iron content, has too much sulphur remaining in it to be allowed to form a large part of the blast-furnace burden, without further treatment. It will range in metallic iron from 42 per cent., representing a very low-grade cinder, from a domestic pyrites, to 64 per cent. of the residue from the best Spanish ore, and the corresponding silica content will vary from the maximum of about 25 per cent. to 1 ½ per cent. The residual sulphur depends largely on the type of burner used in the original desulphurization. In general, the leanest original ores retain the greatest amounts of sulphur. In

Jan 9, 1915

By Philip B. Dettmer

In the last two decades we have witnessed many new developments in the art and science of mineral beneficiation. Competition and the pressures of inflation have caused operating managements to search for every possible way to squeeze out a few more cents savings per ton of product. One illustration of this is the trend toward the use of larger grinding mills. A few years ago a 1000 hp ball mill was considered a giant. Now we have many examples of successful grinding mill installations of 3000 to 4400 hp connected load per mill. The trend toward these larger mills is increasing every year, and we have not seen the upper limit yet. For example, three 6600 hp cement finish mills are presently being built for a plant in Missouri.

Jan 4, 1965

By Walter Weeks

THERE is very little useful material in the litera-ture on the construction of manometers, so each experimenter must devise his own instrument. I have experimented for a number of years and have finally built one that is satisfactory. If we are to obtain accurate friction factors in mine-ventilation problems we must use accurate instruments. The most simple and convenient instrument for the mea-surement of small pressures is the inclined manometer or U-tube. By changing the angle at which the tube is set, any desired magnification of the pressure reading may be obtained. The first question in regard to the manometer is: What liquid shall be used? Alcohol, in my opinion, is the best. It does not cling to the glass and it does not attack the rubber tubes. The next problem is the setting of the instrument at the proper angle. One method is illustrated in Fig. 1. The base plate AC is made horizontal by a level bubble. The plate AB, which carries the U-tube, is hinged at A. The angle z which AB makes with the horizontal may be made any value by pinning the end B at the calculated position on the arm CD. Such an instrument may be designed to read directly in inches of water if a liquid of constant specific gravity is used. If the specific gravity varies, a calculation is necessary to convert the reading into inches of water.

Jan 1, 1923

By Donald R. Lessard

I. INTRODUCTION There is no question that the choice of an appropriate discount rate is a critical element in virtually all business decisions in extractive industries. The standard textbook approach relies on a single overall cost of capital for an entire firm, itself a weighted average of the firm's cost of debt and equity. But a single rate is appropriate only if the commercial risks and financing structures are similar for all projects under consideration. In extractive industries, appropriate discount rates are likely to vary greatly from project to project. Risks of projects differ markedly by mineral, by country in which the project is located, by stage in production, and by position in the project's life. Further, for a variety of institutional reasons, financing structures vary greatly in relation to these same variables and thus the discount rate appropriate to the entire investment and, in particular, to the sponsor's equity investment will vary even more markedly. Failure to select discount rates which reflect these differences can result in extremely distorted decisions. Our interest in this subject results from our ongoing research on alternative ownership and financing structures for large scale extractive ventures in less developed countries where risks to the various participants--the sponsors, the financiers, and the host government--vary dramatically with the different options. Given the magnitude of these differences, a single discount rate for all options is clearly inappropriate. However, there appear to be few guidelines for practicing managers to follow in setting appropriate rates. In this paper, we take a first step in this direction.

Jan 1, 1977

By L. G. Austin, P. T. Luckie, R. R. Klimpel, R. S. C. Rogers

1. INTRODUCTION The Bond method(1.2) for sizing tumbling ball mills has been used successfully for many years. The primary purpose of the Bond calculation is to predict the mill size and mill power to give a desired capacity (Q tph) from a wet overflow ball mill in normal closed circuit operated with a circulation ratio of 2.5. The input to the calculation is the make-up feed size characterized by the 80%-passing size in micrometers (xG), the desired circuit product size characterized by the 80%-passing size (xQ), and an empirical grindability number (the standard Bond Work Index) determined by a standard test. A series of empirical correcting factors(2) are used to convert the results to open-circuit or dry grinding in grate discharge mills. The Bond method has two major engineering advantages: (i) it is very simple; (ii) experience has shown that it works for many circumstances, as a reasonable approximation, because it is based on direct conversion of test data to results measured on industrial mills. There are four main disadvantages of the Bond method. First, there will be a range of error for any specific mill and material and set of operating conditions because the method does not explicitly include several variables which are obviously important: (i) recycle ratio and classifier efficiency (ii) mixture of ball sizes in the mill (iii) variations of residence time distributions with mill geometry and slurry density (iv) lifter design (v) slurry rheology (vi) different underfilling or overfilling of the mill as flow rate is changed. Second, the Bond method explicitly assumes that specific grinding energy E is not a function of ball load, whereas industrial practice and laboratory tests(3) show that the specific grinding energy (to go from a specified feed to a specified product) is less for lower ball loadings than the ball loading for maximum mill capacity. Third, the method uses only the 80% passing size of circuit feed and product to characterize the size distributions, whereas mill capacity in general must depend on the shape of the feed size distribution and the product size distribution. The prime example of this is the use of the reverse closed circuit which removes some fraction of the make-up feed before it is

Jan 1, 1982

By P. V. Roundy

PUBLIC lands in Florida were first withdrawn from entry by President Taft on July 2, 1910, as a conservation measure because of their possible phosphate content. The reserve thus established was subsequently modified by further withdrawals and by restorations, so that on Jan. 1, 1934,' it contained 66,796 acres, of which only a small part had been defi-nitely classified. The reserved land was in scattered parcels, ranging from less than 40 acres to 320 or more, distributed in many counties. For administrative purposes and for final disposal of any of the numerous parcels, mineral classification of the land is legally necessary. In 1934 and 1935 the United States Geological Survey, under two successive grants from the Public Works Administration, prospected some 83 tracts of these lands in Polk County, comprising in all about 3300 acres, and six tracts comprising 240 acres in Citrus and Marion Counties. The tracts in Polk County were all in the so-called land-pebble field and the others in the hard-rock field. The Survey field party was under the direction of P. V. Roundy, from whose unpublished report the material in this paper is largely taken. The foreman of the prospecting crew was J. H. Wingate of Zephyrhills, Fla. The individual tracts were identified through the cooperation of the General Land Office, by transitman Hugh B. Crawford. This prospecting work fitted well the classification adopted for Public Works projects in general: it could not he done on any considerable scale under the Survey's usual appropriations; it gave employment to unem-ployed labor; and it may be expected ultimately to repay the Government in royalties more than the cost of the exploration.

Jan 1, 1937

By George M. Schwartz, Ian L. Reid

The Soudan mine in the Vermilion district of northeastern Minnesota is the oldest iron mine in the state. It has shipped ore every year since 1884 and still contributes a yearly quota of high grade lump ore. No comprehensive report on the Vermilion iron-bearing district has appeared since Clements' monograph,' but Gruner' discussed the possible origin of the ores in 1926, 1930, and 1932, and recently Reid and Hustad have added data on mining and geology." For many years geologists of the Oliver Iron Mining Div., U. S. Steel Corp., have kept up to date a series of plans and vertical sections of the Soudan mine. In connection with mine operation considerable diamond drilling has been done, and this, together with the mine openings, has permitted a reasonably accurate picture of the structure of the orebodies and wall rocks.

Jan 3, 1955

Report of the Secretary GENTLEMEN Herewith are transmitted reports from the Treasurer and of the principal standing committees of the Institute. To these special reports members are referred for details as to the year's work. Despite the unfavorable business conditions obtaining throughout the year, the Institute was able to carry on its various activities without curtailment and without drawing on the surplus accumulated through previous years. In fact, small additions were made to the Life Membership and various other funds. It is highly desirable that such additions should continue to be made, especially to the Life Membership fund, for reasons reported last year. At present, money must be used from current receipts in order to enable the Institute to fulfill its obligations to those who on joining the organization commuted their dues by a single payment. In addition, with the passage of years the number increases of those who have paid dues forty years or more and who, by reason of age or disability, are unable longer to practise their profession. These men have supported the Institute through their active professional life and it would be a pity to lose them as members through resignation or for failure to keep up their dues. In accordance with the By-laws the Board has authority to advance such members, on application, to the Honor Roll of Senior Members and to relieve them from further payment of dues. It has been the policy of the Board to do this liberally, but to keep up this, as well as to meet other obligations, it is necessary for money to be provided. It has been estimated by the Treasurer that nearly $50,000 additional should be placed in the Life Membership fund as soon as possible to meet these obligations without using current income and to that end it is necessary, not only to avoid running behind currently but to earn, if possible, some surplus each year. The small amount transferred to the Life Membership fund from surplus this year was, as a matter of fact, made possible by certain members paying personally bills that were properly chargeable to the Treasury. Such generosity is common among those active in Institute work and probably no year would have closed with a surplus except for it.

Jan 1, 1929

The first practical and successful use of a laser-beam guidance system for a tunnel machine drilling to a remote target has been achieved at the Bureau of Reclamation's Navajo Indian Irrigation Project near Farmington, N. Mex. Using such a guidance system, the Hughes Tool Co.'s "Betti I" drilled a 10,000-ft long tunnel in eight months and 18 days to within 5/8-in, of established line and grade. The electronic system which guided the "Betti I" features a gas laser whose beam is aimed at two light-sensitive targets on the boring machine. From these targets, the operator of the machine receives electric signals on a read-out panel which tell him the machine's precise location within the tunnel. The operator can then make any adjustments necessary to maintain line and grade while drilling ahead.

Jan 6, 1966

By Stanley D. Michaelson

Stanley D. Michaelson retired in 1976 as chief engineer, Metal Mining Div. and director of the Engineering Center for Kennecott Copper Corp. An active consultant on mining and metallurgical assignments, Mr. Michaelson is also currently adjunct professor of mining engineering at the University of Utah. He received his B.S. degree in mining engineering from Lehigh University in 1934 and an honorary E.M. degree from the Montana School of Mines in 1961. Mr. Michaelson received AIME's Robert H. Richards Award in 1962 and was named a Distinguished Member of the Society of Mining Engineers of AIME in 1975. He has served as a Director and as a Vice-President on the AIME Board of Directors and is a Past President of the Society of Mining Engineers. He became an Honorary Member of AIME in 1978.

Jan 1, 1979

By E. E. Donath, W. L. Crentz, J. D. Doherty

The principal washing problems in preparing coal for the synthetic fuel industry may be stated as: (1) ash removal for the Bergius process; and (2) sulphur removal for the Fischer-Tropsch process. A study is made of the effect of ash on oil losses during the elimination of the nonliquefiable portions of the coal in the hydrogenation process. The oil loss increases with ash content and results in increased consumption of coal, hydrogen, and power.

Jan 4, 1950