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[E. E. SCHUMACHER, Chairman ARTHUR PHILLIPS, Past-Chairman L W. KEMPF, Senior Vice-Chairman E. A. ANDERSON, Vice-Chairman H. A. MALONEY, Treasurer FRANK T..SISCO. Secretary 29 West 39th Street, New York 18, N. Y.]

Jan 1, 1946

By Lawrence B. Wright

The Republic district, Washington, is of new interest because of the discovery of new gold-silver ore within a unique structural pattern. The camp was revived in 1937 fol1owing installation of a plant to treat low-grade disseminated ore at Knob Hill and further stimulation followed discovery of "cross vein" breccia ores in 1939. Previous writers 1-2 ascribed the quartz veins to a latite porphyry stock, but are in disagreement as to its precise location and extent. This study leads to the conclusion that the ores have a more profound parentage linked to a broad system of thrust faults and folds, the mechanical origin of which is related to a southward trending (Sanpoil) syncline connecting with the Lewis and Clark zone of shift described by Billingsley and Locke3 in 1939. The Republic anticliue and a cross anticline recumbent against Cretaceous granodiorite. and involving some 4000 ft of Eocene andesite flows and early Miocene lake beds, localize the ores, mainly along the east flank, in a series of openings simulating drag folds and steeper than the folded flows. These broad structural features no doubt reach deeply into the basement rocks, where at appropriate crossings and junctions it is suggested that heat effects gave rise to ore-making materials, including, in this instance, intrusive breccias that later were mineralized, and comprising the broader bodies of new ores. The breccia ore is seen crosscutting the earlier narrow quartz veins with a welding of the two at junction areas by a second surge of ore minerals. The ore mined and developed since 1937 equals district production from 1896 to 1937 The ores are typified by cherty quartz, adularia and some barite, with fine pyrite and marcasite, polybasite, pyrargyrite, tetrahedrite and gold. Selenium is present, possibly with gold, as a normal selenide. The disseminated ores, as well as the vein and breccia ores, are localized principally in one 500-ft flow (Knob Hill andesite), which has been traced around the crest of the low northward-plunging Republic anticline. The gold-silver ratio in the earlier narrow veins is about I to 4 and in the disseminated and breccia ores, I to 7. The latter higher silver ratio is deemed to reflect the character of the second surge of mineralization. Sills and dikes of the Columbia River (Miocene) basalt cut the folded structure and ore, thus placing the mineralization in the middle Miocene. Introduction The Republic district of north central Washington is of new interest because of the discovery, development and extraction of new gold-silver ore; also, because of a unique local structural pattern believed to be integral with the broader tectonic mechanism of the continental framework. This district had 40 years of modest rating following its discovery in 1896. Its narrow ore bodies, complex mineralogy. and early inadequate metallurgy, together with the apparent bottoming of ore near 1000 ft, limited production to 300,000 oz of gold and 1,000,000 oz silver between 1897 and 1914. The camp was then reduced to lease Life until 1937, when the gold price increase of 1933 to $35 per ounce

Jan 1, 1949

By Lawrence B. Wright

The Republic district, Washington, is of new interest because of the discovery of new gold-silver ore within a unique structural pattern. The camp was revived in 1937 fol1owing installation of a plant to treat low-grade disseminated ore at Knob Hill and further stimulation followed discovery of "cross vein" breccia ores in 1939. Previous writers 1-2 ascribed the quartz veins to a latite porphyry stock, but are in disagreement as to its precise location and extent. This study leads to the conclusion that the ores have a more profound parentage linked to a broad system of thrust faults and folds, the mechanical origin of which is related to a southward trending (Sanpoil) syncline connecting with the Lewis and Clark zone of shift described by Billingsley and Locke3 in 1939. The Republic anticliue and a cross anticline recumbent against Cretaceous granodiorite. and involving some 4000 ft of Eocene andesite flows and early Miocene lake beds, localize the ores, mainly along the east flank, in a series of openings simulating drag folds and steeper than the folded flows. These broad structural features no doubt reach deeply into the basement rocks, where at appropriate crossings and junctions it is suggested that heat effects gave rise to ore-making materials, including, in this instance, intrusive breccias that later were mineralized, and comprising the broader bodies of new ores. The breccia ore is seen crosscutting the earlier narrow quartz veins with a welding of the two at junction areas by a second surge of ore minerals. The ore mined and developed since 1937 equals district production from 1896 to 1937 The ores are typified by cherty quartz, adularia and some barite, with fine pyrite and marcasite, polybasite, pyrargyrite, tetrahedrite and gold. Selenium is present, possibly with gold, as a normal selenide. The disseminated ores, as well as the vein and breccia ores, are localized principally in one 500-ft flow (Knob Hill andesite), which has been traced around the crest of the low northward-plunging Republic anticline. The gold-silver ratio in the earlier narrow veins is about I to 4 and in the disseminated and breccia ores, I to 7. The latter higher silver ratio is deemed to reflect the character of the second surge of mineralization. Sills and dikes of the Columbia River (Miocene) basalt cut the folded structure and ore, thus placing the mineralization in the middle Miocene. Introduction The Republic district of north central Washington is of new interest because of the discovery, development and extraction of new gold-silver ore; also, because of a unique local structural pattern believed to be integral with the broader tectonic mechanism of the continental framework. This district had 40 years of modest rating following its discovery in 1896. Its narrow ore bodies, complex mineralogy. and early inadequate metallurgy, together with the apparent bottoming of ore near 1000 ft, limited production to 300,000 oz of gold and 1,000,000 oz silver between 1897 and 1914. The camp was then reduced to lease Life until 1937, when the gold price increase of 1933 to $35 per ounce

Jan 1, 1949

By David H. Browne

One of the most difficult problems in the chemistry of iron-ore, and one, the solution of which, so far as I am aware, has never been attempted, is the distribution, throughout a given vein, of Bessemer ore, and its relation to the formation of the deposit. In those hematite-mines in which both Bessemer and non-Bessemer ore occur, the sorting of the ore as it lies in the deposit becomes a problem of much economic as well as scientific interest. It would seem, from a superficial examination. or, indeed, from any examination not conducted for this especial purpose, as if high- and low-phosphorus ores were mixed in inexplicable confusion ; and a mining-chemist is very apt to fall into a system of adventitious analyses, taking first-class ore wherever he can find it, and overlooking its relation to the formation and position of the vein. I hope that a few notes which I present on this subject may be found worthy of consideration, as throwing a new light upon this obscure topic. During the last three years, while acting as chemist of the Lumberman's Mining Co., I have made some 3000 analyses of iron-ore from the Ludington mine at Iron Mountain, Michigan. These analyses were necessary in order to separate Bessemer and non-Bessemer ore which occurred intermixed in the deposit. During the last year, I attempted in several ways to find some reason or method in the distribution of phosphorus, and have finally become cognizant of the arrangement herein outlined. I have been obliged to confine my attention to our new mine, and, in that, to that portion wherein

Jan 1, 1889

By James R. Finlay

At first blush one is tempted to say that iron-mines are like any other mines, and that principles governing miniug-property in general will apply to them. But there are certain considerations which seem to repay reflection. Gold and copper are more or less independent of transportation. The proof of this is that those metals are profitably mined and shipped from the remotest corners of the earth. Their value is determined by the cost of production on the ground. This is quite true of gold, not quite so true of copper, not at all true of iron. If New York were a. fishing-village and Chicago a swamp, Calumet & Hecla might still be a bonanza. The main element of its value is the 60 lb. of fine copper per ton which it produced for years. But the Mesabi Range is absolutely dependent upon the industrial activity in the United States. Iron-manu-facture in Europe would give it no value whatever. If Chicago and New York had a population of Peruvians or Hindus, the Hull-Rust mine would be as worthless a bit of landscape as any tundra in Alaska. I have discussed these facts more or less casually and dimly in my book on the cost of mining and in my report to the Tax Commissioners of Michigan.1 I shall try here to bring them out in more detail. I have already referred to some differences in the problem of mining as between the more precious metals, e.g., gold, and the less precious and more abundant minerals, like iron and coal; but it is interesting to note that the literature of the eco-

Jan 1, 1914

First Session BRASS Wednesday, A.M., Nov. 29 Co-Chairmen: CARTER S. COLE, Staff Engineer, A.S.T.M. E. A. ANDERSON, Chief of Metals Section, Research Div., New Jersey Zinc Co. (of Pa.) Second Session BRASS Wednesday, P.M., Nov. 29 Co-Chairmen: D. K. CRAMPTON, Director of Research, Chase Brass and Copper Co., Inc. A. W. TRACY, Metallurgist, The American Brass Co. Dinner and Technical Session Wednesday Evening, Nov. 29 Toastmaster: N. L. MOCHEL, Manager Metallurgical Engineering, Westinghouse Electric Corp. Talk on "How Do Things Look Today and For the Future" RALPH KELLY, President, Baldwin Locomotive Works Technical Paper on Stress-Corrosion Cracking E. H. Dix, JR., Assistant Director of Research and Chief Metallurgist, Aluminum Company of America Third Session BRASS Thursday, A.M., Nov. 30 Co-Chairmen: W. B. PRICE, Director of Research, Scovill Manufacturing Co. A. L. JAMIESON, Associate Metallurgist, Frankford Arsenal First Session LIGHT METALS Thursday, P.M., Nov. 30 Co-Chairmen: L. L. WYMAN, Metallurgist, General Electric Co. M. A. HUNTER, Professor of Metallurgical Engineering and Head, Dept. of Metallurgical Engineering, Rensselaer Polytechnic Institute Second Session LIGHT METALS Thursday Evening, Nov. 30 Co-Chairmen: R. T. WOOD, Chief Metallurgist, American Magnesium Corp. J. D. HANAWALT, Director, Metallurgical Dept., Dow Chemical Co. First Session STEEL Friday A.M., Dec. I Co-Chairmen: H. S. RAWDON, Chief, Division of Metallurgy, National Bureau of Standards A. L. FEILD, Director of Research, Rustless Iron and Steel Corp. First Session MISCELLANEOUS METALS Friday P.M., Dec. I Co-Chairmen: E. A. ANDERSON, Chief of Metals Section, Research Div., New Jersey Zinc Co. (of Pa.) CARTER S. COLE, Staff Engineer, A.S.T.M.

Jan 1, 1945

By Francis L. Sperry

Up to within a few years, the consumption of nickel has been more directly dependent upon the available supply than that of any of the other useful metals. The Gap mine, in Lancaster county, Pennsylvania,* has been, for the last quarter of a century, the only property in this country furnishing nickel in paying quantities. Its yearly output was about 300,000 pounds of metallic nickel, or nearly half the amount used annually in the United States. Foreign nickel from mines on the New Caledonia islands, in the South Pacific, found entrance into our markets as the production of the Gap mine fell off. The price of nickel was constantly maintained, and no special effort was made to extend its use. Over-production was cautiously guarded against, and all surplus metal was held by the banking-houses of the Rothschilds, who assumed the bonded indebtedness of the Sociètè le Nickel. The opening of the Ontario nickel-mines has, however, brought about a radical change; and nickel from the Sudbury district can be delivered in New York within four days, and in European markets within two weeks, as against two months consumed in transporting South Pacific ores. Former prices have been irretrievably smashed, and European trade-journals comment favorably on the influence which Canadian nickel has had in making lower prices, and breaking the backbone of the " nickel trust." Production and Costs. The quantity of nickel produced and the prices which it commanded may be briefly summarized as follows: The total production of the world from 1840 to 1860 was about 100 to 250 tons yearly of metallic nickel; from 1860 to

Jan 1, 1896

By F. M. Hamilton, H. F. Ameen

Results of a laboratory investigation of some sintering variables are presented. The effect on physical properties of mix component variation and rate of cooling of the sinter is illustrated by crush and tumbler test results and data of reducibility tests and microscopic examination of sinters are shown. The results of using solid additions in the mix to improve bed permeability are given. SOME of the variables encountered in the sintering of iron ores and their effect on sinter properties have been investigated at the Jones and Laughlin Ore Research Laboratory in Michigan. Ores requiring agglomeration before blast furnace utilization may be classed as coarse, intermediate or fine. Coarse iron ore is considered similar to a — 1/4-in. Mesabi wash ore containing some 95 pct of its particles between 94 in. and 100-mesh. Intermediate iron ore is considered similar to our New York State magnetic concentrates in which all the particles are — 20-mesh and about 60 pct are +100-mesh. Fine ores are considered as being at least 100 pct —100-mesh. This paper will deal only with the two coarser classifications. Most of the work has been done in a small experimental batch unit previously described in an AIME1 paper. Results being obtained form a basis for present and future trials in production sinter plants. It is expected that new production units that may be added in the future will benefit from laboratory studies. In general, the results reported here are obtained by laboratory study, but it is Experimental Sinter Machine: The laboratory sinter machine employed in the work consists of a chamber with 1 sq ft of grate area. It is mounted on

Jan 1, 1951

By R. F. Slack, J. C. Draper, J. A. Younkins

In 1959, the Duquesne Light Co. was faced with the problem of moving more than 40 million tons of bituminous coal in Greene County, Pa. The coal had to travel a distance of about 4 ½ miles from a new mine portal in Rocky Run Valley to the company preparation plant and loading facilities on the Monongahela River. After careful study of this immense transport problem, Duquesne decided that the belt conveyor system described in the following pages offered the best solution. This system, now in operation, is probably one of the four or five longest permanent overland conveyor systems in existence. The general layout of the entire system is shown in Fig. I. A detailed description of the salient features of the system is presented below. THE MINE The valley of Rocky Run where the system begins is very, very narrow and very steep. It was chosen as the site of Duquesne's new mine portal because it was the only place on this particular property where the Sewickley coal seam cropped out. The valley also had two other advantages. First, it fronted on a state road and, second, it offered a site where some 4 million gallons of water could be stored for use in dust-allaying sprays needed in the mine. The company elected to construct a drift mine in the valley because this would require neither the hoisting time of a shaft mine nor the walking time of a slope mine. As part of the mine construction project, the valley was leveled by relocating its stream and filling its center with material cut from each side.

Jan 11, 1966

By H. F. Ameen, F. M. Hamilton

Results of a laboratory investigation of some sintering variables are presented. The effect on physical properties of mix component variation and rate of cooling of the sinter is illustrated by crush and tumbler test results and data of reducibility tests and microscopic examination of sinters are shown. The results of using solid additions in the mix to improve bed permeability are given. SOME of the variables encountered in the sintering of iron ores and their effect on sinter properties have been investigated at the Jones and Laughlin Ore Research Laboratory in Michigan. Ores requiring agglomeration before blast furnace utilization may be classed as coarse, intermediate or fine. Coarse iron ore is considered similar to a — 1/4-in. Mesabi wash ore containing some 95 pct of its particles between 94 in. and 100-mesh. Intermediate iron ore is considered similar to our New York State magnetic concentrates in which all the particles are — 20-mesh and about 60 pct are +100-mesh. Fine ores are considered as being at least 100 pct —100-mesh. This paper will deal only with the two coarser classifications. Most of the work has been done in a small experimental batch unit previously described in an AIME1 paper. Results being obtained form a basis for present and future trials in production sinter plants. It is expected that new production units that may be added in the future will benefit from laboratory studies. In general, the results reported here are obtained by laboratory study, but it is Experimental Sinter Machine: The laboratory sinter machine employed in the work consists of a chamber with 1 sq ft of grate area. It is mounted on

Jan 1, 1951

By Frank R. Corwin, Selden S. Rodgers

PAGE I. Introduction,........... 383 11. Brief History of Present MacDoUgall Plant,.... 384 III. First Experimental Work on Increasing Capacity of Furnaces, 385 IV. Effect On MacDouRall Plant of IncreaBed Draft from New Smelter Stack,,.......... V. Increasing the Capacity of the MacDouGall FurnaceS,.. 391 (A). Test of Arthur Crowfoot on Increasing Capacity,.... (a). Description of Test,........ (6). Discussion of Results Obtained from Test,... 393 (B). Investigation Carried Out by John A. Church, Jr.,... 395 (a). Advantages of High Speed,......398 (C). Effect on Regular Operation of Department by Applying Results Obtained from Experimental Work ..... 399 (D). Fundamental Principles Involved in Increasing the Tonnage, . 400 VI. Treatment of an INcreased Amount of Ore Screenings,.. 401 VII. Maximum Percentage oF Ore Screenings in a MacDoUGall Feed, 403 VIII. Tests to Further Increase Capacity of Furnaces,... 406 IX. Tests to Decrease PercentaGe of Flue Dust made by MacDouGall Furnaces,............. (A). Repath-Marcy Furnace......... 408 (B). Modified Hepath-Marcy Furnace,....... (C). Crouse Furnace Designed for Dust Prevention,.... 413 (a). Tests on Crouse Furnace,....... X. Concrete Hearths,.......... 419 XI. Conclusion,............ I. Introduction. Since the first installation of MacDougall roasters at the Great Falls smelter of the Anaconda Copper Mining Co., the capacity of the furnaces.has been more than doubled. During the first nine or ten years of the operation of the MacDougall department the tonnage treated by the furnaces remained practically unchanged. Experimental work carried out in 1906, however, showed that increasing the draft of the furnaces would bring about an increase in capacity. In 1909 the MacDougall department was connected to the new smelter stack and

Jan 1, 1914

By V. H. Gottschalk

SEVERAL years ago a group in the metallurgical division of the U. S. Bureau of Mines began a study of the application of new developments in physics to metallurgical problems'. Among these developments were the extensions of what may be termed by analogy the "sound spectrum." Electromagnetic waves, from X-rays to radio waves, have been quite thoroughly explored for metallurgical use, but the sound spectrum, extending from low-frequency vibrations involved in certain types of metal failure by fatigue through the range of audible sound to inaudible vibrations having frequencies of many kilocycles, has had only meager consideration from metallurgists. Because of the general interest in the process recently demonstrated by St. Clair3 for flocculating smoke by means of sound waves, this article is written to point out possible applications of sound and supersonic (ultrasonic) waves in the metallurgical industry.

Jan 1, 1937

[PRESIDENT AND DIRECTOR H. G. MOULTON3 NEW YORK, N. Y. PAST PRESIDENTS AND DIRECTORS - D. C. JACKLING1 SAN FRANCISCO, CALIF. DONALD B. GILLIES2 CLEVELAND, OHIO TREASURER AND DIRECTOR KARL EILERS3 SEA. CLIFF, N. Y.]

Jan 1, 1940

By Mario L. Villa

During 1938, oil activities in the Argentine Republic showed a favorable balance due to the increase in crude-oil production, the incorpora- tion of new producing areas and the discovery of deeper productive horizons. Drilling was as follows:

Jan 1, 1939

By Mario L. Villa

During 1938, oil activities in the Argentine Republic showed a favorable balance due to the increase in crude-oil production, the incorpora- tion of new producing areas and the discovery of deeper productive horizons. Drilling was as follows:

Jan 1, 1939

By A. S. Richardson

PROGRESS in health and safety in the mining field has been greatly affected by war conditions. Some of the instruments commonly used in ventilation and dust prevention work have been practically unobtainable. Much equipment, such as fans, has been purchasable only when it was possible to make positive statements to the effect that it was absolutely necessary for the production of definite quantities of materials essential to the war. Even then, long delays were usually experienced in obtaining such equipment from the manufacturers. These circumstances have, of course, not been conducive to the development of new and better methods, though attention has been directed by governmental agencies towards the recognition of existing hazards to which little attention had previously been paid.

Jan 1, 1945

The 114th (New York) Meeting of the Institute will be held in the third week of February, 1917. The Committee on Papers and Publica- tions has set Dec. 1,1916, as the closing date for the receipt of manuscripts intended for this meeting. 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 enough in advance of the time to be forwarded and in the hands of the Secretary by the time specified. While Dec. 1, 1916, is the final closing date, it is a great advantage to get papers in as much before that time as possible as it enables them to be submitted in proof form to their authors. Papers received on or before

Jan 10, 1916

By P. Ramachandraraa, T. R. Anantharaman

THE technique developed by Duwez, Willens and Kle-ment' for rapid solidification of molten alloys in small quantities by ejecting them on to a highly conducting substrate with the aid of a shock wave has come to be known as "liquid quenching" or "splat cooling" in literature and has already been applied to alloys of many binary systems.' The very high cooling rates of the order of l060 to 1080 per sec obtained in this technique and the consequent drastic undercooling of the melt have led to such striking results as formation of new amorphous and crystalline metastable phases and extension of solid-solubility limits in many alloy systems. The cooling rates in these experiments can, however, be neither accurately measured nor effectively controlled and hence the occurrence of either more than one metastable phase or appreciable differences in constitution in splat-cooled alloys of the same composition cannot be ruled out.3 In fact, workers in two laboratories have reported formation of two different cubic metastable phases in liquid-quenched Au-Si alloys containing 17 to 20 at. pct si.4,5 The present note deals with some new and interesting results obtained in a Ag-21 at. pct Ge alloy and a Au-27 at. pct Ge alloy subjected to the liquid-quenching treatment at different cooling rates. Two alloys of nearly the same composition had earlier been rapidly solidified by the standard "gun technique" in the same laboratory and shown to solidify in nonequilibrium structures, viz., an hcp phase (a = 2.987Å;c =4.718Å) in the Ag-Ge system6,7 and both hcp (a = 2.885Å; c = 4.754Å) and tetragonal (a = 11.627A; c = 22.491Å) phases in the Au-Ge system.3 Apart from different substrates (copper and stainless steel), different melt temperatures (50º to 500°C above the liquidus), and different capillary sizes (0.4 to 1.5 mm diam) in the "gun technique", slower cooling rates of the order of l050C per sec were also obtained in the present work by replacing the substrate by water at room temperature in a modification of the technique due to Olsen and Hultgren.8 No attempt was made to measure the cooling rate in any experiment. The products varied from fine powder (>40 pct by wt—200 mesh) obtained by quenching in water to thin flakes and foils (11.0 sq mm to 4.0 sq cm) produced by splat cooling. They were subjected to the Debye-Scherrer method of X-ray examination in each case. In case of the Ag-Ge alloy, in addition to the expected metastable hcp phase,6 a coexistent tetragonal phase (a = 5.093,Å; c = 7.009Å) was detected in some experiments. Eight weak X-ray reflections from this phase could be identified, two of them being the same as reported earlier.7 With increase in the cooling rate, the dominant hcp phase seems to be first accompanied by traces of silver or germanium and then either homogeneous or mixed with traces of this new tetragonal phase. The splat-cooled Au-Ge alloy showed generally the expected hcp and tetragonal phases,3 but sometimes traces of germanium were also present. Further, two new tetragonal phases with the following lattice param ters could be clearly identified in samples quenched

Jan 1, 1970

A Page Adam. H. F. and Ruggles! G. H., Results with Xanthate at Inspiration............. 337 Adnic proertiea of....................... 474 Africa; Gold Coast, manganese...........abs.474 191 mining districts......................... 254 Aid, H., biography........................ 154 Air compressors. In flotation................ 45 Air-gas lift: gae-oil ratios relation of......abs. 475 Gulf Coast. mechanical installations... .abs. 475 Seminole field........................abs. 476 Air-sand process. cleaning coal............abs. 89 Alabema, Birmingham district. drainage. . abs. 86 " Alclad." aluminum alloy................. 395 Alexander. W. Homer. biomaphy .......... 37 Allen. Andrews. Preparing Coal after Mechanical Loaders......:....T................. 181 Allison. F. H., Comparison of the Effect of Nickel and Cobalt in Steel.............aha. 151 Alloys: See Metals named. Aluminum: heat treatment...............abs. 444 machining...........................abs. 443 Norway............................... *465 Aluminum alloys: " Alclad "................ 395 application of........................abs. 443 deformation..........................abs. 150 Aluminum Bronze Manufacturers Institute. organized.............................. 188 "Alumnum. The Metal and Its Alloys." B.R. 42 Aluminum-iron-silicon alloys, equilibrium relations.............................aba. 444 Aluminum-manganese alloys, equilibrium relations in..........................aba. 87 Aluminum-silicon alloys. heat treatment. .abs. 398 American Association of Petroleum Geologists. annual meeting................... 81 American engineers. war memorial.......... 499 American Institute of Mining and Metallurgical Engineers: Committees: Douglas. James, medal...... 324 Geophysical Prospecting............. E. 204 Mining Medal........................ 324 Nominating: Election................. 235 report............................. 479 Constitution. votes for.................E. 494 Constitution and By-laws. draft of....... 374 Directors: Minutes of meeting.....110. 235. 323 publications.......................... 523 Directors adopt badge................... 324 Dues. increasing........................ 111 Dues are Due.......................... 236 Institute of Metals Division: annual lecture............................ 187 data sheets.......................... 187 Detroit meeting, (September). . .307. 353, 440 lecturer C. H. Desch................. 15 Local Section Committee. members..... 187 New York meeting (February)......... 115 Research Committee.................. 187 research problems..................... 6 Local Sections: Arizona............................. 365 Boston, meetings................40, 197. 486 Page American Institute of Mining and Metallurgical Engineers—Continued Chicago, meetings...40, 94, 156, 196,240,417 Chicago and St. Louis, joint meeting, Danville....................... 486, 527 Colorado, annual meeting.............. 285 Columbia, meetings 39, 93, 156, 196, 238, 286, 327, 365, 486, 527 El Paso, organized.................... 238 Fort Worth, organization meeting...... 485 Joplin-Miami Zinc, meeting.......... 286 Lehigh Valley: annual meeting......... 197 meetings...................... 239, 527 Los Angeles, meeting.................. 285 Mid-Continent, meeting............... 156 Minnesota, annual meeting............ 326 Montana, meeting.................... 40 New York, meetings................240, 284 North Pacific: meetings.... 39, 157, 197, 527 Fieldner, A. C, speaker............. 486 resolution.......................... 439 Oregon, officers....................... 196 Pittsburgh: meetings........... 156, 327, 526 mine transportation conference....... 485 St. Louis and Chicago, joint meeting, Danville........................... 486 San Francisco, meetings............... 92, 197, 239, 285, 439, 486, 527 Southern California, meetings 40, 157,197,283 Upper Peninsula, meeting.............. 486 Utah, meetings..........40, 93, 156, 239, 365 Washington, D. C, meetings 40, 93, 365, 528 Medals: Douglas, James................34, *84 Fritz, John, award, 1928.............. 480 Johnson, J. E., awarded T. L. Joseph... 83 Saunders, William Lawrence........... 34 meetings: Cleveland, April, 1927.......166, 207 Detroit, Sept., 1927............307, 353, 440 Fort Worth, Oct., 1927.........307, 353, 471 • future............................. E. 102 Knoxville, Nov., 1927.............. 480, 500 New York, Feb., 1927, announcements, programs, etc.................33, 50, *106 Salt Lake City, Aug...............306, *422 Members and jobs...................... 477 Membership, benefits.................8, E. 2 Officers and directors.................... *122 Open-hearth Conference................. 282 Petroleum Division: activities............ 186 annual meeting...................... . Fort Worth meeting............307. 353 471 luncheon............................ 91 New York Petroleum Club, officers..... 110 nominations........................23. 519 officers.............................. 117 President's trip. May.................281. 398 Publications: Directors discuss............ 523 Institute of Metals Division Volume... . 178 Petroleum Volume.................... 192 Technical Publications...........E. 294 323 Transactions. Vol. LXXIV. LXXV....00. 524 Review of the year.........:........... ...E. 104 Stockholders. report to..............E. 49

Jan 1, 1927

By Thomas W. Wälde

BACKGROUND Foreign investment has been a major factor in bringing about the substantial mining industries of Chile, Peru, Bolivia, Venezuela, Brasil and Guyana. But economic nationalism and sentiment against foreiqn domination of vital national industries grew in the 1960s and most major mining projects were transferred into state owner ship. Among the state mining enterprises formed were CODELCO - Chile, MINERO-PERU/ CENTRCMIN - Peru, CCMIBOL - Bolivia (in 1952), Hierro-PERU, GUY-BAU/BIDCO - Guyana, etc. New investment during that time was discouraged because it was subject to the restrictive conditions of the investment regulations of the Andean-Pact, a grouping of Chile, Bolivia, Peru, Ecuador, Venezuela and Colombia. The philisophy was that mineral resources were to be developed exclusively by national enterprises. Essential foreign inputs had to be acquired "depackaged" as separate purchases of equipment and technical assistance services. As a result of the worldwide economic recession which hit the mining industries in 1980-1982, many projects that were viable in 1970 were not developed by the new state enterprises due to lack of capital, managerial and technical abilities and due to problems with marketing. As a consequence of the long-term decline of metal prices, governments experienced difficulty in getting investment organized through national or foreign enterprises and have had to face up to the trade-offs between national control and active mineral development. A change has since taken place in governmental policies. The 1981 Peruvian mining law, the 1982 mining law of Uruguay, the 1979/1980 mineral promotion laws of Argentina, all witness the gradual shifting of emphasis from restriction to promotion. The investment rules of the Andean Pact have been progressively softened through national regulation and today are more or less irrelevant. Nationalizations and forced renegotiations have not occurred in the last few years. Countries have gone to great lengths (without much success) to re-attract foreign investment on terms that accommodate the political sensitivities of the South American countries and the practical requirements of investors and financiers. For this analysis, three contracts have been selected which reflect this accommodation in three South American countries, where miner a1 production plays a major role in the national economy. These con tracts reflect both the attitudes and traditions of the individual countries, but also mark the shift in mineral investment policies that has taken place. EL INDIO AGREEMENT The 1977 investment agreement between Chile and St. Joe Minerals marked a dramatic relationship between Chile and foreign mining investor s. In Chile, mining of copper has played a major role in the country's history. Large scale copper mining was initiated and developed by Kennecott and Anaconda. The nationalization of these two companies under the Allende government in July 1971 started a wave of nationalizations of foreign-held mining and petroleum operations since then in many parts of the world. The military government supported the new Chilean state mining companies ((30DELCO and ENMI) , but it also attempted to accelerate mineral development by prom ting foreign private investment, thus reversing the nationalistic policies followed by the Allende and the preceding Frei government. The new policy by the military government is expressed in Decreto-Ley 600 (1974) which governs foreign investment in Chile. Decreto-Ley 600 is

Jan 1, 1985