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By EDWARD B. DURHAH

The illustration Fig. 12, of the paper of Edward B. Durham, "Electrolytic Refining at the U. S. Mint, San Francisco, Cal.," printed in Bulletin No. 58, October, 1911, p. 830, contained an error. The corrected diagram is printed below.

Nov 1, 1911

By Stefan Boshkov, Malcolm T. Wane

The validity and accuracy of velocity measurements underground have been questioned repeatedly by those in mine ventilation work. The general disagreement on the subject is well illustrated in an AIME publication.' Although the presence of errors is readily admitted, their magnitudes are not known and often are described by practical operators merely as "great," "small," or "of no importance." The belief that errors are of academic interest only prevails because of a justifiable claim that actual volumes of air circulated are well in excess of those required by law and safe mining practices. Poor understanding of the source and nature of errors inherent in velocity measurements, coupled with questionable determination of cross-sectional area, result in faulty techniques for the purpose of expediting ventilation surveys and render doubtful the calculated volume. Often consistency of readings is confused with accuracy. A succession of check readings showing a maximum deviation of 5 pct in the measured value of velocity usually signifies nothing more than diligent application of technique in a stable ventilating current.

Nov 1, 1955

ONE DAY IN the mid-1880s, in a suburb 0f Pittsburgh, Pennsylvania, there dismounted from a train the two foremost leaders of the day in the coal and steel industries-Andrew Carnegie and H. C. Frick. Their attention was drawn to a well-loaded car of coke, which their experienced eyes recognized as a superior product. "I'll bet you that coke is from the H. C. Frick Coke Company," Mr. Frick challenged. "I'll bet it was shipped by my company." In a spirit of fun Mr. Carnegie accepted the wager. Mr. Frick lost the bet: the coke had come from M0rewood, one of three sites being operated under the direction of a young entrepreneur, Erskine Ramsay. If Mr. Frick's confidence was somewhat dented by this occurrence, the responsibility was his own. He himself had opened the way for Erskine Ramsay to become the youngest of mine superintendents; and he had dispersed all dissension regarding his choice with the words : "I'm not interested in his years, I'm interested in his record. He makes more coke in an oven than any other superintendent. And I'll take 'em out 0f the cradle if they can make coke... Suppose he is only twenty years old? ... The d --- kid is a genius, I tell you." Erskine Ramsay was to follow in the tradition of Carnegie and Frick. Not only was he ambitious and a worker his background had prepared him for it. Coal mining was in the Ramsay blood. His father, Robert Ramsay, of whom the son once stated that he had no superior as coal mining and mechanical engineer in this country, once accounted in these words for the phenomenal accomplishments which had attached to the name "It does no harm to belong to a family of mining engineers who are just as good as any in America-if it is myself that says it." Anyone acquainted with Robert Ramsay's character realized that he was not given to overstatement. And the above-mentioned Mr. Carnegie encountered young Ramsay again, a few years later in his career, and wrote of him to young Erskine's father, that he was "going to be a credit `tae us a' " (a quotation from Robert Burns.) Nor have Mr. Ramsay's achievements been identified exclusively with the industrial field in which he early asserted himself. He has been an inventor whose techniques in mining engineering have received international recognition. As an investor of foresight, he has benefitted others immeasurably, as well as himself, being an influential factor in the upbuilding of several communities in his chosen and well-loved adopted home state of Alabama since 1887. He is a philanthropist whose benefactions have run into millions, the chief beneficiaries being educational and charitable institutions. Amidst his accomplishments the lighter side of life has not been neglected and he is known for his hospitality, his

Jan 1, 1953

By William D. Carter

When the first Earth Resources Technology satellite (ERTS-A) is orbited by NASA next year, mineral exploration is expected to take a giant leap forward. There are many inherent advantages in going to space to study large regions of the earth, as existing space data have shown. A preview of what can be expected has already been provided by Gemini and Apollo color photographs taken over many parts of the world in the equatorial belt to 30ºN and S latitude. These comprehensive views cover some 100 sq mi, depicting prominent geologic features in a regional context. Placed side by side with mosaics of aerial photographs covering identical areas, the space pictures point up many inadequacies in the present airborne methods of data acquisition. To obtain a regional picture from aircraft, one must piece together many bits of data, and the final result suffers from variations in lighting and photographic reproduction that may obscure features important to the mineral explorer. By contrast, space photographs provide unsegmented synoptic views of large areas as they appear in a single instant under uniform lighting conditions.

Jan 1, 1971

By A. Blake Caldwell

In 1936 the Ertsberg story began and its development is a classic example of the courage it takes to discover one mining prospect and bring it into production. Truly, the finding and working of this mine is a modern exception to the overwhelming odds every modern prospector must surmount to be successful. Today, it takes lots of time, plenty of money and the tenacity of a bulldog to whip the laws of nature. Ertsberg ("ore mountain" in Dutch) is literally an elliptically shaped plug of magnetite which erosion has exposed for 560 ft above ground level. The deposit has been likened to an ice cream cone with the outcrop the ice cream, which is above ground, and with the cone buried below the surface. Assaying about 2.5% Cu, the 33 million tons of ore also carry 0.025 oz Au and 0.265 oz Ag per ton.

Jan 1, 1970

By D. W. Loughridge

INTRODUCTION Raising capital in the 1990s is a timely subject. However, many of us thought why should raising capital in the 1990s prove to be unlike it was in the 19805, the 1970s, the 1%0s, or earlier? There are a lot of creative people in banking and in corporate treasury departments. New tools and techniques are continuing to emerge, many of which are discussed in other papers in this book. While we have new financing tools at our disposal, the underlying issue has not changed. Projects and investments must be judged on their own merits. If they cannot be justified by conventional financial analysis, they should not be built. If they can be justified, it is likely that the financing will be available. The challenges faced in raising capital in this decade will persist to the next. The issues of the 1980s -- currency fluctuation, disruptive merger and acquisition activity, commodity price volatility, political risk, and debt crisis -- will all persist in an increasingly international business environment. I will focus on the financing we have just completed for the Escondida Copper Project in Chile. The Escondida financing is structured along the classic project financing model developed in the late 1970s, but it deals with issues of the 1980s and the 1990s. The financing was intriguing, not just because of the technical issues involved, but also the challenge of reaching an agreement in a large and diverse group. Escondida had the one essential feature that made its financing possible. It was commercially very attractive. It would produce at low cost a commodity (copper concentrates) that direct consumers felt would be in tight supply. The project had the direct support not only of its sponsors, but also its customers, and, very importantly, its host government. The non- recourse financing of Escondida would not have been possible without the support of these parties, and without the robust economics that made this effort worthwhile. The issue was more complicated. Operations in all parts of the world entail some political exposure. This project is in Chile, where there was a constitutional requirement that a plebescite be held when the project would be in its early stages. This plebescite would determine the fate of a 15 year old military dictatorship. The project is copper, a commodity generally deemed to be in surplus. Copper has a history of price volatility (whose price has varied from $.58 to $1.53 per pound over the past two years). It is politically sensitive, not only in Chile, but in the United States, Canada and other developed countries. The project is international, with all the problems of dealing with a variety of currencies, a variety of cultures, and a variety of laws and commercial practices. The project is also large and capital intensive, with a total cost of U.S. $1.1 billion. ESCONDIDA PROJECT Escondida, the largest known copper ore body in the world, was discovered in March of 1981, by Utah International in a joint venture with Getty Oil Company. In 1984, both Utah and Getty were involved in ownership changes, Utah being acquired by BHP. A later restructuring of the ownership of Escondida resulted in BHP, as manager, carrying a 60% interest, Rio Tinto-Zinc Corporation (RTZ) 30%, and a consortium of Japanese companies led by Mitsubishi Corporation with 10%. The Japanese consortium is incorporated as JECO (Japan Escondida Corporation). This ownership structure, which spread ownership around the world, was the first tangible step toward managing both the commercial and political risk associated with the project.

Jan 1, 1990

By A. L. Foell

THE development of the modern blast furnace began more than one hundred years ago, with the abandonment of the small hillside furnaces. Its development, especially during the past 50 years, has been accomplished through a rapid succession of enlargements and improvements. The remarkable growth in furnace output during this period is a tribute to the engineers and operators who have constantly endeavored to build larger and more efficient blast furnaces. The blast-furnace operators and their mechanical and electrical maintenance staffs have originated most of the furnace improvements as a result of their practical operating experience. FURNACE LINES About 50 years ago furnaces consisted of hearths about 11 ft. in diameter, which merged into rather high flat boshes, with no cylindrical section between the bosh and inwall and no cylindrical section at the stock line. Since then the lines of the furnace invariably have included a cylindrical section above the bosh and a cylindrical section at the stock line. Notable increases have been made in both hearth diameters and furnace heights. During the past 10 years hearth diameters in new and replaced furnace stacks have rather consistently fallen within the range of 25 to 28 ft. while their heights have varied between 100 and 106 ft. The lines of most large furnaces using Mesabi ores have followed a fairly uniform pattern (Fig. I) in which the principal dimensions for 25-ft. hearth furnaces are as follows: [Hearth diameter 25 ft. o in. Height of bosh 10 ft. o in. Bosh angle 8 1 ½° Diameter top of bosh 28 ft. o in. Inwall batter per foot 15/16 Stock-line diameter 19 ft. 6 in. Large-bell diameter 14 ft. 6 in. Height from iron notch to top ring casting 100 ft. o in.] In determining the size of a new furnace for the replacement of an existing stack or for an addition to productive capacity, it is not possible to formulate a procedure that can always be followed. Local conditions, requirements as to capacity, available raw materials and prospects for future expansion dictate the size of such proposed improvements or additions. However, where the immediate requirements indicate a stack or furnace of a certain productive capacity, and the future prospects indicate that more capacity can be utilized, it is well to consider building the furnace for the ultimate capacity rather than to install a smaller hearth with provision for future enlargement. The decision to build the larger hearth and stack for the ultimate capacity probably will require no greater initial investment, since the saving in the cost of brickwork will about offset the greater cost of the hearth jacket, tuyere breast and bosh bands. In the meantime, the furnace of larger hearth dimensions, while operating below its ultimate output, will yield a better coke rate and

Jan 1, 1942

By Carl Beal

THE most important factors that should be given consideration in valuation of oil land are: (1) the amount of oil the property will produce; (2) the amount of money this oil will bring (based upon the future prices of oil) ; (3) development and production costs; (4) the rate of interest on the investment; (5) the retirement or amortization of invested capital; and (6) the salvage or "scrap" value of the equipment when the property is exhausted. These factors are of varying importance, and some of them may not enter all valuation problems, but most of them should be given consideration in any valuation even though only a rough estimate of the value of the property is desired. The value of a property may be changed over-night by the completion of important test wells, by the sudden water flooding, or by a change in the price of oil. The best a petroleum engineer can give is the value of the property under the conditions existing at the time the appraisal is made with a fair forecast of future action of the wells and of the price of oil. Our experience in the scientific valuation of oil lands is not broad and there is very little published information on the subject; it, therefore, becomes necessary in studying such problems to form comparisons with the factors involved in the valuation of mines-the closest parallel. One of the reasons for the lack of substantial progress in oil-land valuation methods has been the necessity of making an estimate of the future production of the oil property to be valued. Oil men and accountants have not generally conceded that such estimates could be made with any degree of accuracy. It has been shown, however, in several recent publications that with certain data available reasonably close estimates can be made. The accuracy of an appraisal depends chiefly on the accuracy of the estimates of future production and of the future price of oil. The accuracy of the former is sometimes necessarily based on geological inferences. Geology is not an exact science and geological data in connection with oil production cannot always be mathematically evaluated.

Jan 9, 1919

By C. F. Dietz

WHEN thinking of industrial relations, we must not confine the term to what is ordinarily called "welfare work;" viz., organizing baseball teams, departmental parties, athletic contests, and such things. These are all of interest but not very helpful in solving the problems of industry. We must think of industrial relations as that understanding developed between workers and management that permits of harmonious progress because of a mutual understanding of each other's problems. Most of the industrial unrest, discontent, mistrust, or antagonism is due to misunderstanding; and that misunderstanding is the direct result of not having taken the workers into our confidence. If they are merely cogs in a machine, employed to do certain things, and have no interest in anything but the receipt of the pay envelope, we cannot expect intelligent harmonious progress. There are still some people who think that the interests of management, or capital invested in a business, and the interests of the worker are diametrically opposed. That is an unfortunate belief; the interests are identical. If the worker does not understand what his part of the work represents, what the management's part represents, and what the invested capital's part represents, he is bound to have a misconception, of the matter and will think only in terms of the pay envelope. The methods used for producing a better understanding between workers and management do not much matter so long as the end is attained. Some plants prefer shop committees; others attempt to work through the foremen in the various departments; others, by personal contact-between the management and the men, especially if a shop is small. It does not really matter how the end is attained as long as the object is accomplished. The best type of industrial relations can probably be attained when the mystery is taken out of industry-when the workers understand what they. are a part of, what their function is, what they are contributing. They should also understand something of fundamental economics-that it is not just a question of getting all they can and giving just as little as possible but that their contribution makes for expansion, progress, and permanence, and opens a field of activity for themselves that other-wise would probably be blocked.

Jan 6, 1925

By Bleeker L. Wheeler

Potential, not past earnings form the basis of valuation. Markets, taxes, transportation and numerous other factors are also of prime importance.

Jan 7, 1951

By AIME AIME

ON THE occasion of the eightieth birthday of Captain Robert W. Hunt, the Iron and Steel Committee of the Institute, desiring to commemorate the great contributions made to the steel industry by Captain Hunt during his long career, conceived the idea of a Hunt Medal to be awarded annually by the Institute for meritorious contributions to the art of making steel. The project was received enthusiastically by all to whom it was proposed, especially by Captain Hunt's partners and employees who considered it their right, and asked for the privilege of -. - raising the necessary funds within their own circle. This was agreed to, and the Institute has received from them $7500 as an endowment fund to provide an annual award, and $1000 for the expenses of providing of medal.

Jan 1, 1920

By V. Miller

Highly variable milling procedures within a geologically complex porphyry copper deposit owned by Kennecott Corp. in Nevada made it necessary to estimate copper recovery and concentrate grade in areas where actual test data was lacking. Estimation was made by first determining the relationships between desired metallurgical properties and the ore's petrology-copper mineral type, rock type, and copper grade. This relationship was then combined with previously estimated rock type, mineral type, and copper grade data in the mineral block model to predict milling properties.

Jan 1, 1985

By R. B. Campbell

One of the three power plants that will be in the Curecanti Unit of the Bureau of Reclamation's Colorado River Storage Project is the power plant at Morrow Point Dam. Presently under construction, the Morrow Point Power Plant is between Gunnison and Montrose on the Gunnison River in west-central Colorado. (Fig. 1). Morrow Point Dam will be a thin, double-curvature, concrete-arch dam, 465 ft high and will impound 120,000 acre-ft of water. Two 60,000-kw hydroelectric generators will be housed in an underground power plant in the left abutment just down- stream from the dam. The power-plant chamber will be an unlined opening 205.5 ft long, 57 ft wide and 65 to 134 ft high. The arch-type roof with a rise-to-span ratio of 1 to 4 will be supported with rock bolts and chain link fence. A description and discussion of the design considerations for the power-plant opening and rock bolt design are given by William H. Wolf, Gilbert L. Brown, and Ernest D. Morgan in "Morrow Point Under- ground Powerplant," ASCE Power Division Specialty Conference, Denver Colorado, August 18-20, 1965. The Morrow Point site is in a moderately active region of mild earth- quakes, as evidenced by recent earthquakes in 1960 and 1962. Therefore, the Bureau of Reclamation undertook an investigation of the effects on the underground power-plant chamber when subjected to an earthquake. The art of earthquake engineering has been directed primarily at developing methods of analyzing the nature of ground surface motions and designing surface structures to resist damage from vibrations impressed on the structure by the ground motions. The mechanism of straining an underground cavity by an earthquake

Jan 1, 1968

By T. W. Guy

THE increased moisture due to water¬spraying for coal dust control is of interest even for mines from which the coal is to be wet-washed before screening, because in many cases wet coal dust materially decreases the loading efficiency of men an equipment at the faces. It also causes serious increase in the normal wear and deterioration of all equipment with which it comes in contact. It is important to the consumer if it increases his as-receive moisture. No attempt will be made in this paper t cover the entire subject of water-spraying of coal for dust control. It will be confine to discussion and data on (r) percentages c dust in bituminous coals, (2) moisture increases due to spraying for dust control in mines or plants by methods which have proven satisfactory for periods of one to five or more years, and (3) a few suggestions for research. SIZE AND PERCENTAGE OF COAL DUST The U. S. Bureau of Mines1 classifies a coal dust all bituminous coal passing 20-mesh sieve (0.0328 in. square opening; The percentage of such dust to be found is ROM coal, of course, varies widely wit. the characteristics of the seam, and with the methods used in the mining and in the preparation of the coal. ROM screen analyses of 12 U. S. coals selected at random from personal files given in Table I show: A few other screen analyses examined indicating 40 pct or more of 2o-mesh X o dust in 3/8 in. X o-sizes were not included because of uncertainty that they were representative. The number of results in Table I is not sufficient to give a reliable estimate of the average, or of the range to be expected, but it indicates that in every case the coal dust is a relatively large percentage of the total ROM coal, and, of course, a progressively larger percentage of resultants as the larger sizes are separated for marketing.

Jan 1, 1948

By Tayler H. Bingham

Personal consumption expenditures represent roughly two-thirds of total of GNP. While these expenditures directly account for only a small portion of total natural resource consumption, they account for a significant proportion indirectly. The reason is that all economic activity can be shown to be interrelated and that the intermediate production sectors, which are the primary users of natural resources, represent the interindustry transactions necessary to produce all final goods, including consumer goods. This paper provides a discussion of the methodology and quantitative estimates in physical units of the interrelationships between 15 major nonenergy resources and 6 energy resources and 477 personal consumption expenditure items.

Jan 1, 1977

By Martin J. Conway

DURING the past year, the intense interest shown by the metallurgical industry in the use of relatively pure oxygen has been evidenced by the number of papers dealing with its application and production. The reason for this interest is apparent when it is realized that, weight for weight, oxygen enters into the formation of steel equally with iron. In the manufacture of steel, approximately one ton of oxygen is required to produce one ton of ingots. Until the recent development of plants capable of producing oxygen at far lower costs than had ever previously been considered possible, the oxygen required for steel manufacture was used as it occurs in air, where it is associated with approximately four times its volume of nitrogen. Because of the diluent nitrogen more than 4 tons of total gaseous material per ton of steel must be handled rather than only approximately one ton required when pure oxygen is used. In addition, provision must be made to handle the large quantity of waste, gases resulting from the process. There are cases where the reduction in gas volume alone can justify the installation of an oxygen plant.

Jan 1, 1947

By H. A. Wilmeth

IN 1955, before planning an accelerated stripping program, Chino Mines Div. began an engineering study to improve data for estimating truck haulage costs for any future haulage layout. The study aimed to develop: 1) significant unit costs, 2) a method of estimating travel time from which truck needs and future stripping rate could be determined, and 3) yardsticks of performance to measure haulage efficiencies. It was suggested that to provide significant unit costs, expense accounts should offer management two types of cost control information-unit cost yardsticks with which monthly unit costs could be compared and unit costs for estimating future expenses for any haulage layout.

Jan 5, 1958

By L. A. Panek

Using an approach based on the theory of similitude, the author develops a general equation and related concepts that provide new insights to an old problem. The load-bearing capacity (strength) of a square, rectangular, or cylindrical prism of a brittle material such as rock, coal, or concrete is expressed as the mathematical product of a size effect, a shape effect, and a function of the mechanical properties (deformability, cleat/joint spacing, and friction) of the pillar, roof, and floor materials. Through an application of multivariate statistical analysis, the results of assorted tests (laboratory and in situ) and observations of failed pillars can be combined into a fundamental scaling equation, which provides a unified, consistent approach to the estimation of mine pillar strength. The form of the equation is sufficiently general to be able to incorporate refinements in the characterization of the structural parameters, as they become available through future analysis and experimentation. Analysis of the published test data suggests that pillar compressive strength (per unit of area) is proportional to the cube root of the pillar width, and that the height effect can be described as the superimposing of a variable size effect (characteristic of the material) on the constant width effect.

Jan 1, 1981

INTRODUCTION TO MINERAL INVENTORY The first explanations to be made must answer the questions: What is a mineral inventory, and how is a mineral inventory different from an ore reserve? The term mineral inventory is a relatively new designation-born of the computer age and grown to common usage with the development of computer techniques for extending drill-hole sample values to regularly gridded data blocks representing in situ mineral values. The term has been generally accepted by geologists and engineers because it has a precise meaning which avoids many of the ambiguities of ore reserve. A mineral inventory is an estimated inventory of mineral in place and is usually achieved by dividing the deposit into regularly spaced gridded blocks to which are assigned estimated values using various extension techniques. A mineral inventory makes no presumptions about the mineability of the blocks or their cutoff grade. Such parameters are implied with the use of the term ore reserve. Ore has a specific definition (see Chapter 1) and ore reserve must reflect that definition and thus has economic and mining constraints. An ore reserve will be different under different economic and mining conditions and is subject to reclassification by many factors. The term mineral inventory avoids all such ambiguities. A mineral inventory estimate may be good or poor according to how much is known about the deposit, how extensively it has been sampled, and what techniques have been employed to assign estimated grade to the blocks. Such an inventory, however, does not change with time, economic conditions, or mining technology, but only with new and better data and methods. Thus, the mineral inventory is an excellent designation for describing mineral value distribution within a deposit's geological setting. The techniques for assigning values and tonnage to mineral blocks or panels are the subjects of this chapter. Whether a summation of the blocks be called a mineral inventory or mineral reserve is not important. Many conventional methods for computing reserves of minerals refer to the methods in terms of ore reserve calculations. OBJECTIVES OF MINERAL INVENTORY OR RESERVES Mineral inventories are computed for the purpose of determining the quantity, the quality or value, and the spatial distribution of potentially economic minerals within the earth. Such computations are made at all stages in the life of a mineral extraction process, from the early exploration phase to the final year in the life of a mine. To quote Popoff (1966, p. 2), "They are the most responsible and irreplaceable tasks in the valuation of a mineral deposit. Efficiency in extraction and productiveness is impossible without accurate reserve computations." The accuracy of estimate required for each of the three parameters of quantity, value, and location is dependent upon the objective for which the reserve estimate is being made. Again quoting Popoff (1966, p. 2): Reserves are computed to determine the extent of exploration and development; distribution of values; annual output; probable and possible productive life of the mine; method of extraction and plan design; improvements in extraction, treatment, and processing; and requirements for capital, equipment, labor, power, and materials. Such computations are used to assist development

Jan 1, 1980

By Goerge F. Weaton

Since 1909, when an agreement between Minnesota's Tax Commission and the University of Minnesota's School of Mines was worked out, it has been the annual responsibility of the School to evaluate and classify the iron ore deposits within the State. These unique duties of an academic institution have provided School officials with an excellent view of the past, present and probable future of the mining industry in Minnesota as the average grade of iron ore (excluding taconite) * diminishes while at the same time it competes with beneficiated taconites and foreign high-grade ores for use in America's eastern blast furnaces. SYSTEM OF EVALUATION In the latter part of November of each year, the Mining Division of the Department of Taxation makes a preliminary study of the active mines which the Department wants the School of Mines to review. These are discussed with the engineers of the Ore Estimate Division of the School of Mines and with the mining companies. After these discussions, a list of the mines of each of the major operating companies is submitted to the Ore Estimate Division of the School of Mines with the request that these properties be reviewed by them as of the next assessment date (May 1st). At the same time, a letter is sent to the mining companies requesting that they submit to the Division their own estimates on the selected mines operated by them, together with all computations, drill records, maps and cross-sections. The mining companies are re- quested to send in this information during the first half of the year, and, as far as is possible, they have always complied with this request promptly. Much of this information received by the School of Mines is of a confidential nature and is treated as such.

Jan 1, 1965