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By C Parihar, R Garg, A Bhandari, S Bhandari

Blasting can impact the efficiency of entire downstream mining operation. Individual technology solutions for blasting have been available in the industry for many years but all of them only cater for certain aspects of blasting. Many of them are based on individual research and/or experiences. Some of the available software solutions are not suitable to be used in the field as that they need advanced skills or tools. Also, most do not take technology advancements like mobility, advanced data analytics, web solutions and integration into consideration. Hence, no technology platform is currently present in the industry that addresses all potential needs a blaster may need in an integrated manner.This paper presents an integrated solution that takes care of all aspects of blasting – design blasts according to mine plan; collect data after drilling has been carried out (as there is often difference in designed and actual drilled hole locations in the field); predict blast results in terms of fragmentation, flyrock, ground and air vibrations, wave front reinforcement and flyrock distance; and after assessment, allows changes in charging, delay timing and sequence. The technology solution is a secure, cloud-hosted, web-based software-as-a-service solution that can be accessed from anywhere. Also it has a mobile app, which is available for both Android and iPhone/iPad. The mobile app is also integrated with the web-based solution using application programming interface calls to the central data repository.Case studies for two limestone mines are presented where this solution is being used in its initial format. This software platform enabled analysis of the outcome from a previous blast pattern and then subsequently allowed optimisation of blasting operations based on historical data. Uses of this platform have resulted in improved key performance indicators in these two limestone mines. The mobile app as part of this platform enables extensive field blast data capture and analysis and also various predictions before a blast. Data collected include blast parameters, individual hole charging, initiation pattern, videos, photographs and vibration records for analysis/reporting. The key features of the solution are a blast designer, a detailed blast data collection/analysis and a series of environmental predictors. These predictors give blast results in terms of fragmentation, flyrock, ground and air vibrations and wave front reinforcement and take remedial steps before blasting to optimise and control adverse environmental impact. Many features, such as fragmentation predictor and mobility solution, are completely unique features that are not available elsewhere in such a field personnel-friendly manner.CITATION:Bhandari, S, Parihar, C, Garg, R and Bhandari, A, 2015. An integrated technology solution for optimised and environmentally-controlled blasts, in Proceedings 11th International Symposium on Rock Fragmentation by Blasting, pp 393–400 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Aug 24, 2015

By G I. Lumley

‘Every mine is a pilot’ is an attitude which encourages the mining paradox of optimistic mine plans and equipment under performance; propped up by an environment lacking accountability. The premise that ‘every mine is a pilot’, appears to underlie the development and operating approach to most mines. It is the hypothesis of this paper that many mining companies, development teams and their managers largely ignore what is done elsewhere. Anecdotally, most planners don’t know whether the selected rates are high or low (rates based on theoretical models tend to be high – certainly higher than what most companies can achieve). Mines then consistently operate the equipment at rates well below targets; often more than 20 per cent below. Further to this paradox, mine performance data demonstrates the average mine is currently operating their equipment at levels of output not much more than half the output of those in the top ten per cent. On the whole mines don’t know the potential of their equipment and therefore don’t put appropriate plans in place to do better. After all, when ‘every mine is a pilot’ there is little reason to look to one’s peers for an indication of potential. This paper will outline why every mine is not a pilot and how mines do value some knowledge, but not as much as they should. This paper proposes a two-pronged approach to address this issue in the area of equipment performance. This approach is to:1. engage in better forecasting of equipment rates and better subsequent performance through benchmarking against industry standards2. provide conditions for more accountability.These parameters are linked and proper implementation of them will address the losses which many shareholders and financiers have incurred when investing in companies with unrealistic mining plans.CITATION:Lumley, G I, 2016. Is every mine a pilot? In Proceedings International Mine Management Conference, pp 75-88 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Jun 22, 2016

By N McIntyre, M Edraki, K R. Jain

From the very early stages of a mining project, there is a requirement to predict the chemistry of potential drainages from various waste storage facilities. However, using relative masses to scale chemical loads measured by laboratory kinetic tests, such as humidity cells, to a full-scale mine waste facility will lead to concentration predictions that are unrealistically high for many dissolved constituents. Scaling factors developed by various procedures indicate that laboratory rates may range anywhere from two to eight times (Drever and Clow, 1995) to 100 to 1000 times faster than field rates (Malmstrom et al, 2000; Smith and Beckie, 2003; Ritchie, 1994). This contribution will use previous works and secondary data to discuss the significance of scale in water quality predictions. It will also present primary experimental geochemical and numerical data from a column leaching study on coal spoils to discuss potential applications of mesoscale leaching tests in bridging the gap between bench-top tests and field scale trials.

Aug 2, 2023

By G Caddy, M Middleton, S Kerec, R Keil, J Tsalapatis

Arrium’s OneSteel Whyalla Steelworks in South Australia is a fully integrated plant which operates a single blast furnace. The key operational objective has been to maintain high process availability and stability while maximising the process efficiency and the produced hot metal quality. All ferrous raw material input feeds are sourced exclusively from company iron ore deposits in the nearby Middleback Ranges. The Whyalla blast furnace has mostly operated using a combination of a high percentage of pellet feed, produced in Whyalla, together with screened lump ore.The unique ironmaking challenge has always been to extract the maximum value from the ferrous burden feed available locally. In earlier times, high-grade hematite lump ore was available for both screened lump ore and pellet production. Blast furnace trials from acid to fluxed pellet feed commenced in 1977. The furnace pellet feed has been wholly fluxed since 1981. Many pellet/lump ore feed mixes and significant pellet chemistry composition design changes have been made over the years. These changes have been aimed at best balancing the ferrous burden availability/cost and the optimum reducibility/high temperature melting behaviour of the charged ferrous feed within the blast furnace. In more recent times since 2007, the Whyalla blast furnace operation has transitioned from a hematite based pellet feed to a magnetite based pellet feed while there is an ongoing contest dealing with diminishing absolute quality/increased variability raw material feed inputs.The paper will detail key elements of the Whyalla blast furnace operational philosophy with regards to ferrous feed use and process optimisation. The blast furnace ferrous feed design considerations will be discussed, together with the test work performed, the operational and slag design transition strategies employed and the process results achieved.CITATION:Tsalapatis, J, Middleton, M, Keil, R, Kerec, S and Caddy, G, 2015. The use and optimisation of ferrous feed at the Whyalla Blast Furnace, in Proceedings Iron Ore 2015, pp 377–384 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Jul 13, 2015

By G Gopinath, R Balachander, H S. Venkatesh

This paper describes in detail the controlled blasting adopted and the measurements undertaken for the successful excavation of large twin tunnels under a shallow cover for a six-lane highway project in India. The tunnels are D-shaped, each 15 m in diameter, and the cover between the tunnels and the existing railway track was about 14 m. These twin tunnel tubes were characterised by two separate three-lane carriageways for each direction of traffic, and were planned with about 25 m of reinforced cement concrete (RCC) portals at the entrance and exit of the tunnels. The major challenge of the project was the blasting of tunnels in rock below an operating railway line. As the tunnels approached the area below the railway line, the ground vibrations were monitored vertically above the blasting faces and on the railway track sleepers. Vibration intensities between those generated from tunnel blasting and those from the movement of the trains were compared, and it was found that the vibrations from blasting were lower than those from the moving trains. Though the permissible level of ground vibration based on the Indian Standard (IS) code happens to be 70 mm/s, the maximum charge per delay was calculated restricting this limit to 50 mm/s. This ensured that the vibrations in the vicinity of the railway tracks never exceeded the prescribed limit of 70 mm/s. The surface ground settlement before and after the blasts were also measured using an optical levelling instrument, which confirmed that there was no significant impact on the surface movements due to blasting. Extensometer readings inside the tunnels showed that there was no deformation in the tunnel. These twin tunnels are now operational and are providing faster connectivity with safety.CITATION:Gopinath, G, Venkatesh, H S and Balachander, R, 2015. Controlled blasting for twin tunnels with a shallow cover under an operating railway line, in Proceedings 11th International Symposium on Rock Fragmentation by Blasting, pp 801–808 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Aug 24, 2015

By M Haydon

How do you portray a large structurally and stratigraphically complex deposit to return a meaningful resource estimation, and produce a geological model that is useable for planning on a daily basis? The George Fisher Mine is located 22 km north of Mount Isa and forms part of XstrataÆs Zinc Group operations. It is currently a major producer of zinc, lead and silver in the region with an estimated total resource for all categories of 127 Mt at 100g/t Ag, 5.3 per cent Pb and 9.2 per cent Zn (June 2005). Production in 2005 totalled 2 647 492 wet tonnes for 317 699 kg Ag, 140 317 tonnes Pb and 230 331 tonnes Zn from underground operations. George Fisher (GF) consists of two deposits that are structurally complex on a mine scale, George Fisher North (GFN) and George Fisher South (GFS). Regional faulting has resulted in a 2 km long package of variably pyritic shale and siltstone that separates the deposits. This paper looks specifically at GFN. Distinct correlations exist between the two deposits based on stratigraphic matches; however, orebody characteristics, geometry and fault architectures differ significantly between the two. The deposits consist of multiple, sedimentary-hosted, stratiform orebodies from 2 to 25 m wide, separated by waste intervals of variable width. Each ore-waste interval is modelled as an individual geological domain. Structurally, George Fisher North (GFN) contains a series of major late-stage NE faults with dextral offset(s) of up to 130 m. Further complexity is added by NS, NW and NNE striking fault orientations that can produce either a loss or repeat of stratigraphy, local drag folding, orebody attenuation and block rotation. Due to this structural complexity and orebody offsets, domains at GFN are further divided into fault blocks (FB). The GFN model comprises eight FBs over a strike length of 1 km, all of which are modelled independently. As drilling progresses and additional resources are converted, further FBs will be added at major fault offsets to accommodate orebody and model expansion. This will be in addition to what is already a large and time-consuming data set to manage and update. For example, each FB has 18 domains each with two constraining wireframes (hanging wall and footwall). Each wireframe has several sets of point data depending on the type of data available, ie diamond drilling, mapping or interpretation points. This equates to over 1100 separate files to manage. Additional wireframes and files are also required for major structures, daily planning requirements and block model runs. In total some 1500 files are managed, updated and maintained for GFN alone. The ongoing need to expand as a business and optimise production in the current economic climate where there is a global demand for metal has led to an increase in production at GF. This has resulted in a rapidly growing data set and highlights the importance of practical and efficient modelling to achieve a meaningful resource estimate. This paper focuses on the geological modelling, modelling approaches and techniques employed for the GFN deposit.

Jan 1, 2006

By Barnes R. G, Agostini A, Lewis P. C

The Mineral Resources Audit is a five-year Program established to produce a comprehensive and objective assessment of the mineral resources of New South Wales, including prospective resources. The goals of the Program are to improve planning and land use decision-making; attract exploration and minerals related investment; help the Department to identify and fill gaps in knowledge; and develop methods to identify and quantify resource potential and prospectivity. To achieve the goals of the Audit it is necessary to assemble and enhance a large amount of information and it is necessary to spatially analyse this information using computer-based Geographic Information Systems (GIS) which allow the collection, storage, transformation and display of large quantities of spatial data. An extensive range of both map-based and textual data can be employed in spatial analysis and resources and geoscience modelling. In order to use this information, data sets have to be corrected and standardised. Many data sets need to be classified. An objective of the Audit Program is the spatial analysis of the State, region-by-region, and the release of cleaned-up multiple digital data sets as packages which include upgraded mineral deposit information, 'seamless' geological map layers showing lithology, structures and stratigraphy, and processed and classified geophysical map layers. These regional packages are important reference sets for the mineral resources industry and will assist delineation of regional exploration targets.

Jan 1, 1995

Underground excavations are subjected to complex stress changes caused by nearby mining, but may also be affected by repeated dynamic loading from blasting and seismic events. In some cases, the combined, cumulative effects can lead to unforeseen damage, displacement and instability. Simulating dynamic loading of an underground excavation is a very complex task. The state of rock mass stress, damage and deformation must first be simulated sufficiently requiring small-scale structures to be explicitly modelled. Supporting elements must be represented with high similitude and then the dynamic event must be applied to the system in the case of blasts, or evolve as a consequence of rock mass instability for seismic events. A special case is for the effect of pit blasting on underground excavations - discontinuous rock phenomena at scales from mine, to bench, to pillar, to tunnel need to be captured and this represents one of the most computationally intensive tasks in mine simulation. Recent advances in computer power allow these tasks to be completed at a mine scale, incorporating discontinuities and geological detail matching the best practice for static Finite Element analyses. The results are a worthwhile contribution to mine decision-making, but require careful interpretation and thoughtful inputs - even more so than quasi-static analysis - as the cumulative effects of unfavourable modeling practices are greater. Some learnings from experiences with mine scale, discontinuum dynamic simulation are summarised, including a discussion of considerations of scale and similitude for this type of analysis.

Nov 25, 2010

By B Dodd

This paper details how the Australian Securities and Investments Commission (ASIC), as a disclosure and conduct regulator, approaches regulation of continuous disclosure, capital raising and control transactions in the mining and resources sector, and the reasons for the approach. In examining this topic the paper considers the Joint Ore Reserves Committee (JORC) Code (JORC, 2004), the VALMIN Code (VALMIN Committee, 2005), the relevant ASX Listing Rules and the relevant provisions of the Corporations Act 2001 (Corporations Act). This paper discusses ASICÆs approach to expert reports and disclosure with reference to Regulatory Guides 111 Content of expert reports and 170 Prospective financial information.CITATION:Dodd, B, 2012. Issues in capital raisings and disclosure, in Proceedings International Mine Management 2012, pp 3-14 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Nov 20, 2012

By P Swart, A Fletcher, P D. Erskine

Glencore Coal Assets Australia (GCAA) operates five coalmines in Queensland and has rehabilitated thousands of hectares of mined land across these sites. Accordingly, GCAA seeks to continually improve rehabilitation outcomes over time and work towards progressive rehabilitation sign-off. The ultimate test of rehabilitation success is the attainment of an agreed land-use target, whether for biodiversity conservation or some type of agricultural production, and the ability of the rehabilitated landscape to resist degradation and retain desired functions (eg biodiversity protection or grazing productivity). However, success must be based on documented evidence that can demonstrate adequate progress towards rehabilitation targets and is assessed at appropriate intervals. To assist this task, a stepwise decision guide for the GCAA monitoring program was developed to ensure consistent monitoring data is collected across the range of sites. This presentation will discuss some of the processes that were followed to allow GCAA to identify appropriate metrics to assess rehabilitation success efficiently over thousands of hectares.CITATION:Erskine, P, Fletcher, A and Swart, P, 2016. Preparing for progressive mine rehabilitation sign-off in Queensland, in Proceedings Life-of-Mine 2016 Conference, pp 148–150 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Jun 28, 2016

One of the earliest and continuing challenges in driving sustainable development in large scale resource industry projects is around the issue of assessment û how do you measure the sustainability of a mineral operation? One of the key road blocks when confronted with this challenge is the temptation of technical folks to reach for a definition of sustainability or sustainable development. But definitions, by definition, have boundaries and limitations that serve to constrain thinking û they limit the thinking of what we can achieve with sustainability (it also acts as a barrier that constrains innovation). Rather than seeking definitions, better understanding of the core perspectives around sustainability and their application to the minerals industry provides a much more powerful platform from which to conduct assessments. But it is only when these perspectives are combined with the right framework and supporting techniques that the complex becomes doable. With the support of the perspectives and the framework, various assessment and measurement methodologies can be used; the challenge is communicating to stakeholders the sustainability character of the project in ways that are meaningful and to which people can connect. Assessment is not about finding the best or most accurate methods that fulfil strictly academic and possibly abstract requirements. The challenge is to help people understand what the impacts are, and what the value contributions will be, in a format and language that make sense in their world-view.

Jan 1, 2009

By P F. Hodkiewicz

"Our understanding of mineral resources relies on three basic steps: data capture data interpretation model construction. Until recently, all three of these steps required significant time and manual effort to produce a single resource model for mine planning, typically taking more than a year to progress from drilling to the final block model. Over the past several years, BHP Billiton has been developing innovative workflows in rapid resource modelling projects to significantly reduce these time constraints and make the process more productive by replacing manual activities with automated ones. Rapid resource modelling is the process of combining recently developed off-the-shelf technology with internal technology developments to fundamentally change the way we collect, interpret, model and evaluate geoscience data. Initiatives include automated systems and standardised workflows to make it safer, faster and cheaper to continuously update multidiscipline resource models. Specifically, rapid resource modelling workflows combine: real-time analysis of drill holes and drill samples with downhole tools and hyperspectral scanning systemsautomated interpretation of drill hole intervals based on pattern-recognition algorithmscontinuous modelling workflows using implicit modelling software. This paper outlines technology developments and workflows that provide a more thorough understanding of mineral resources to support faster and more informed strategic, planning and production decisions.CITATION:Hodkiewicz, P F, 2014. Rapid resource modelling – a vision for faster and better mining decisions, in Proceedings Ninth International Mining Geology Conference 2014 , pp 183–188 (The Australasian Institute of Mining and Metallurgy: Melbourne)."

Aug 18, 2014

Resue or split face firing has the potential to separate ore and waste rock into separate muck piles within a stope. Thus split face firing has the potential to reduce dilution of the ore stream to be transported to the surface for subsequent processing. It also potentially reduces the total amount of broken rock needing to be transported out of the mine as the waste material is physically separated from the ore as part of the blasting process. Waste can therefore be used directly from the stope to backfi ll other mining areas. This paper reports on the results of split face firing trials at the Hillgrove mine in NSW and analyses the results of these blasts.

Aug 1, 2010

By E K. Chiw, S-M Jung, S M. Masuka, ika

The world reserves of high-grade iron ore have depleted necessitating the need to utilise any existing natural iron ore deposits to meet the demands of the world’s expanding economy using hydrogen in the reduction process to curb CO2 emission. These low-grade ores include iron ores with high phosphorus content. The thermodynamic conditions in the blast furnace allow for the reduction of phosphorus that readily dissolves into the molten iron. Phosphorus in the gaseous state readily dissolves into the molten iron and therefore must be removed due to its negative influence on the mechanical properties of steel. The removal of phosphorus from molten iron is difficult causing the phosphorus to concentrate in metallic iron. The aim of this study is to provide basic knowledge on the phosphorus distribution after reduction using the CO-H2 and possibly provide the optimum conditions for phosphorus partitioning into slag, increasing the probability of its removal by magnetic separation. Total porosity, pore size distribution and surface area of the pellets used were measured using a mercury pressure porosimeter. The reduction was carried out using thermogravimetric analyses (TGA). The reduction rate increased with increasing H2 and was highest when 100 per cent H2 was used. Metal elements distribution in the reduced pellet was clarified using electron probe microanalysis (EPMA) and showed that phosphorus was distributed in the same areas as Ca. More phosphorus was concentrated in slag when 50 per cent CO–50 per cent H2 was used, increasing the probability of dephosphorization using magnetic separation. The concentration of phosphorus into slag was related to the rate of reduction. Further investigations into the reduction kinetics of this ore by CO-H2 is suggested to validate these findings. Nevertheless, a comprehensive thermodynamic analysis of the reduction of phosphorus containing phases found in iron ore with carbon, CO and H2 was provided to assist in selecting the optimal reduction experimental conditions.

Sep 18, 2023

By A M. Lechner, S Arnold, M J. Gillespie, P D. Erskine, D R. Mulligan, A T. Fletcher, A Gordon

Mine ecological monitoring schemes are often conducted only to address compliance and in some cases do not have the sufficient statistical power or understanding of ecological systems to assess, quantitatively, the meeting of rehabilitation targets or mine impacts. Monitoring schemes for rehabilitation commonly rely on analogue sites or premining baselines (reference sites) to assess whether rehabilitation sites are ecologically similar and thus successfully rehabilitated. In the case of monitoring for mine impacts, if the impacted sites diverge from reference data, the site is considered to be impacted. Fundamental to any monitoring scheme is testing the sampling design to ensure that it can detect these differences if they are present through adequate sample sizes (ie statistical power). However, a good understanding of the ecological system is required to ensure that differences detected are ecologically significant. Modelling ecosystem properties can provide a quantitative understanding of how ecosystems change over time and space, in response to natural environmental variations and thus aid in determining significant ecological differences. Furthermore, modelling methods can be used to predict future ecosystem states. Within the ecological literature, guidelines for robust statistical monitoring designs and modelling methods exist but are not routinely being used in the mining industry. This paper uses simple examples to discuss: problems with current compliance monitoring methods; importance of robust statistical techniques; and how modelling can assist rehabilitation assessment and guide monitoring schemes. The aim of this paper is to describe general monitoring and modelling methods that could be potentially used for mine site monitoring and closure assessment. These methods are often considered by mining companies as an extra expense that provide little practical benefit, and the domain of academia; however, engaging these methods may be more cost-effective in the long-run than conducting untargeted monitoring schemes that give no confidence to regulators on whether rehabilitation criteria have been met. Furthermore, monitoring programs in mining contexts provide a good opportunity to better understand long-term ecological patterns and test the application of more rigorous modelling approaches as the life of many mines tends to be greater than ten years.CITATION:Lechner, A M, Arnold, S, Fletcher, A T, Gordon, A, Erskine, P D, Gillespie, M J and Mulligan, D R, 2012. Embracing modern ecological methods - Monitoring and modelling for mine closure, not compliance, in Proceedings Life-of-Mine 2012 , pp 25-32 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Jul 10, 2012

By Kuzmitch O, Morozov A

The main direction in the mechanisation in the mines of the Donbas and the USSR is long-face technology with complexes on the base of hydraulic supports. On the base of the 30 year old experience of exploitation of the coal clearing systems the serious data about the behaviour of the contained rock, display of underground pressure 'on longwalls and preparatory workings have been accumulated. Exploitation works in mines of the USSR are carried out at different depths: from 1000m to 1200m. There are 26 mines in Donbas, which exceed the depth of 1000m. It is the mines of Donbas, where is a rich experience of the exploitation of coal seams in various conditions. Besides, there are wide variations on the factors of the extraction thickness, depth of seam, angle of dip, occurrence of gas dynamics and others. In many scientific establishments, and in Donetsk Polytechnical Institute also, there are scientific research/results, which can be of interest for the coal mining countries.The volume of coal mining from longwall system-mechanised walls in Donbas became stable at the end of the 70s at level of 70 percent. All the efforts to increase this level have not given any notable results, not saying about the technical-economical data, which gradually deteriorate. It shows that positive progress in using the technology for the long walls is over and it is necessary to find new ways of mechanisation of coal winning.

Jan 1, 1991

By L O. Filippov, A Piçarra, I V. Filippova, N P. Lima, K Silva

The reverse cationic flotation using the starch as depressor of iron oxides is the most efficient upgrading process when is applied to the simple systems composed by hematite/magnetite and quartz. The fundamental studies performed with iron ore samples from different deposits over the world (Brazil, Russia, Mexico) confirmed the inefficiency of starch when the silica content in the concentrate is controlled by Fe/Mg-bearing minerals. The main approaches for solving these issues focused on using new collector formulations or new depressants. However, the alternative depressants tested inhibited flotation of quartz or were less efficient as iron oxide depressant. In this work, a comparison between new amidoamine collector with conventionally used etheramine and oleate collectors in the flotation of pure minerals and actual iron ore samples was performed. The electrophoretic mobility, contact angle and infrared spectroscopy measurements allowed to deduce the hindrance effect as main mechanism of selective adsorption of the amidoamine on the quartz surface compared to hematite and kaolinite. Molecular modelling studies revealed that this steric hindrance effect can be explained by the combination of the "shield" formed by the coordinating water molecules on the (001)-D2 hematite surface and the large volume of the amidoamine head group. The amidoamine tested as collector without use of a depressant showed excellent flotation selectivity allowing the total flotation of quartz from a mixture with hematite. High collector performance and selectivity were confirmed during reverse flotation of quartz using continuous flotation column (D = 500 mm; H = 4000 mm) and allowed to produce the iron concentrates with more than 60 per cent of iron from the rejected slimes samples of Vargem Grande 2 processing plant (Iron Quadrangle, MG, Brazil). The new collector allowed to develop flexible flotation flow sheets to process the iron ore with a complex gangue mineralogy and unlock the old altered tailings and slimes product as new resources

Aug 24, 2022

By O C. Aitken

Mining project developers are committed to taking on all the challenges and obligations of financial risk management. It is interesting that our current models of project finance have not changed markedly in principle for some 700 years, yet the rules which prepare the way for effective project assessment and subsequent loan management still do not seem to be well understood by project or corporate developers. Probability and gravity fill the opposing trays of the golden balance of financial risk. Understanding the relationship between these opposing, but intimately related elements is critically important for successful risk management. It is important to move beyond the qualitative approach and use quantitative methodologies to measure the financial impact of the occurrence of each major risk. We live in a world where the only constant is change and thus it is not surprising that a bankerÆs life is still governed by assessing, measuring and pricing risk. Banks are attracted to funding well managed companies with strong cash flow projects. But we are more risk averse compared with the credit appetites of late last century. This attitudinal shift has resulted in tougher term sheets for the early 21st century, encompassing more conditions, warranties, undertakings and stronger cash sweep provisions. Banks require well balanced portfolios to achieve an acceptable spread of risk, thus there is a more restricted market for small company lending than that available to large multi-project corporate entities with less concentrated risk profiles. Because of this focus, junior company debt finance remains comparatively expensive and especially so for more challenging geographical and political environments.

Jan 1, 2004

Teleseismic travel time residuals measured on 600-1000 km seismic arrays across the Rio Grande and East African rifts provide evidence for upper mantle low velocity zones beneath each rift of velocity contrast 6%-8%. Refraction studies show thinning of the crust below the rift axes. Regional uplift which extends hundreds of km either side of the axes, is isostatically compensated by negative density contrast at depth. Since the refraction argues against compensation by thickened crust, compensation in the upper mantle low velocity zones is suggested. Temperature effects alone can not explain the reduced velocities. Generation of a few percent of partial melt is the most probable source of the reduction. A passive extensional mechanism is investigated for the Rio Grande rift in which hot asthenosphere intrudes the lithosphere raising its temperature and generating moderate melting. It requires less than 1% extension to explain the melting but a prodigious 26% to raise the temperature from a pre-rifting continental geotherm to the solidus. Geological estimates find that extension is less than 10% over the uplift zone. Such a mechanism is possible only if the prerifting lower lithosphere geotherm lies closer to the solidus than that of stable continent. This is supported by the observed high heat flow in the Rio Grande rift uplift region which, given the long time constant for thermal diffusion, reflects elevated temperatures at depth well in advance of the onset of rifting.

Jan 1, 1987

By J P. Jona, S R. Poulson, C H. Gammons

Spatial and temporal trends in water chemistry in the acidic (pH ~2.6) Berkeley Pit lake, Butte, Montana, can be explained by a newly developed iron-cycling model. Key elements of this model include: subaqueous oxidation of pyrite and other metal sulfide minerals by dissolved ferric iron, producing Fe2+ as a by-product; re-oxidation of Fe2+ to Fe3+ in the epilimnion, assisted by A ferrooxidans; precipitation of secondary ferric minerals (schwertmannite, jarosite) in the epilimnion; and replenishment of the Fe3+ concentration of the hypolimnion by seasonal lake turnover and gravitational settling and re-dissolution of ferric precipitates. Pyrite oxidation rates were approximated by using published rate laws and information on the Fe3+ concentrations (~5 mmol) of the Berkeley Pit as a function of depth. The results indicate that subaqueous pyrite oxidation may be releasing as little as 6 + 106 or as much as 600 + 106 moles of H+ each year to the lake; the large range reflects uncertainty in calculation of the specific surface area of pyrite in the flooded pit. This helps to explain the observation that the pH and metal concentrations of the Berkeley Pit have not improved with time since mine flooding began in 1983. Vertical cycling of ferric iron in the pit lake permits pyrite oxidation to continue in deep water, even in the absence of dissolved oxygen. This hypothesis is supported by preliminary stable-isotope data.

Jan 1, 2003