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The purpose of this paper is to outline the current status of financing in the Australian Gold Mining industry and to discuss a number of developments that have occurred during 1983/84.Recognising the importance of equity financing various equity issues, including project valuation, will be discussed against the backdrop of an industry experiencing both rapid growth and a changing structure.Nothwithstanding the current tax exempt status of the industry there is a trend towards more debt financing. A number of financing issues will be covered and it will be shown howvalue can be created through astute financing planning.

Jan 1, 1984

Future metal prices play a direct role in both the economic evaluation and short to medium planning of a mine scheduling sequence. It is difficult to predict with accuracy the future price of volatile metal commodities, however, it is possible to fix some future metal price, outside of long term contracts by the selling of futures contracts through a commodities exchange. The futures contract represents a fixed amount of a speci- fied quality of a commodity for future delivery at a predetermined price. Several different types of hedginc are possible, one in particular which is best suited for mining companies. There are relative advantages and disadvantages when trading in futures contracts and particular reference is made to gold contracts on the Sydney Futures Exchange.

Jan 1, 1980

Kensington is a joint venture between Echo Bay Mines and Coeur Alaska, a subsidiary of Coeur d'Alene Mines Corp. The venture is of equalparticipa- tion and is governed by a management committee with Echo Bay as the operator. The project site is 50 miles north of Juneau, Alaska on the eastern shore of the Lynn Canal. The mine and mill are being planned for a production rate of 4,000 stpd. Currently, probable reserves stand at just over 11.3 million tons grading 0.149 oz Au/ton. The project is now in final feasibility study with a production decision anticipated by the end of 1990. Commercial production would begin early in 1993. This presentation dis- cusses the anticipated mine, mill and support aspects of the project.

Jan 1, 1991

Analysis of the 2001 Australian census data set can be used to gain a detailed insight into the trends and levels of employment in different industry sectors. There is a common perception that employment of geoscientists within the mining industry and indeed across all industries has decreased significantly. However, the data shows that the number of individuals stating that they are geoscientists employed across all industries has decreased by only five per cent from 5336 in 1996 to 5067 in 2001. Within the mining industry (Australia and New Zealand Standard Industrial ClassificationÆs û ANZICÆs mining class), the number of geoscientists employed has decreased by ten per cent from 2701 in 1996 to 2441 in 2001. These figures, while showing a decrease, do not reflect the magnitude of the decrease commonly perceived. However, further analysis shows the number of geoscientists employed in mineral exploration may have decreased significantly more.

Jan 1, 2003

As part of the response to the increased demand for products such as iron ore, coal and gold many resource companies have identified the need to develop strategies focused on attracting high demand professionals and retaining current employees in the business. Recent graduates are entering a time where they can expect high starting salaries, attractive benefits and lifestyle options. At the same time high work expectations and large demands on both personal and professional development will also be the norm. Some of the challenges faced may include high demands on performance, working with limited resources, long hours, and tackling unfamiliar areas of work with little guidance. However, managing your career and these challenges effectively can give you valuable experience in a short amount of time. By offering situations from my relatively short, yet active, career in the mining industry during these boom times I will raise some key points on how to best leverage your commodity and make the most of a bullish market.

Jan 1, 2006

There is little doubt that the vision (Spectre) of Voisey's Bay has completely spooked the Northern Hemisphere view on nickel to the exclusion of considering any other future nickel project. Voisey's Bay orebody is of world-class and will influence world nickel and cobalt supply for a very long time - but - has the world yet started to consider the enormous cost of acquisition and development of this find or the nickel price it will need to attract to cover these costs and its operating costs and keep its bankers and shareholders happy. That price will be the critical factor in determining Voisey's effect on world nickel and will be critical in ranking other new projects aimed at making up the nickel short fall created by the on-going demand for austenitic stainless steel. In my view, there is little doubt that some if not most of these `other' new projects will be developed in the South West Pacific from lateritic Resources.

Jan 1, 1996

Modern off-highway trucks have evolved over 30 years from small 20 ton units to vehic- les with capacities of up to 170 tons. Diesel engines are used by all manufacturers while transmissions are either mechanical or electri- cal. Development over the years has kept pace with component availability from engine, trans- mission and tyre manufacturers.Computer simula- tion studies are recognised for purposes of vehicle evaluation and costing under various op- erating conditions. Several manufacturers are currently manufacturing or evaluating vehicles with capacities of up to 260 tons. This paper describes the essential facts associated with the operation of off-highway trucks of the rear dump type in the mining industry.

Jan 1, 1973

By P C. Pistorius

Previous mineralogical investigation of all effluent flotation streams of Mimosa mine (Zimbabwe) indicated that appreciable amounts of liberated platinum-group minerals (PGMs) of the Pt-Pd-Bi-Te class are not recovered û despite electrochemical measurements showing interaction between xanthate and such minerals. In this work, the flotation recovery of synthetically prepared Pd-Bi-Te was compared with that of chalcopyrite (a typical fast-floating mineral) and pyrrhotite (a typical slow-floating mineral), with microflotation tests. These indicated Pd-Bi-Te to be a fast-floater with flotation rates exceeding that of chalcopyrite. Predicted flotation rate constants (from the Ralston model) were significantly lower for small particles (with diameters similar to those lost to the effluent streams) compared with those of particle with intermediate sizes. This supports the suggestion that losses to effluent streams are caused by particle size effects.

Jan 1, 2005

By J-P Franzidis

Hydrodynamic conditions such as gas dispersion, mixing intensity and solids suspension are known to govern the metallurgical performance of the flotation process. Understanding flotation cell hydrodynamics is therefore important for the optimisation of existing cells and for the design of the larger and more efficient cells which are needed to handle the finer, lower grade ores currently being mined. This paper presents the results of numerous studies that have been carried out to characterise the hydrodynamic conditions in a number of different types of flotation machines both in Australia and South Africa. Measurement techniques that have been developed to determine gas dispersion and other hydrodynamic properties in industrial flotation cells are described along with applications for their use. The results show distinct differences between the way flotation cells are operated in the two countries.

Jan 1, 2000

By M Eichorn

Running a successful reagent plant trial is not an easy task, especially when trying to achieve an incremental improvement in a highly variable process, such as flotation. Cytec aims to achieve one per cent recovery improvement with 90 per cent statistical confidence. Most concentrators experience large fluctuations in recovery and so the æmagicalÆ one per cent is difficult to detect. With the aid of statistical software, including REFDISTR (proprietary) and ECHIPR, Cytec have developed a unique approach to differentiate between daily operational variation and actual process improvement. This paper describes how Cytec runs a plant trial based on extensive laboratory investigation and detailed analysis of historical plant data using statistical techniques.

Jan 1, 2000

By K Inoue

The pressure oxidation of molybdenite concentrates in acidic and alkaline media has been studied. The conditions of the selective oxidation of copper and iron sulphide minerals with a quantitative copper leaching by ferrous-ferric-sulphate solution have been found and explained from the point of view of electrochemical kinetics. The partly oxidised residue consisting of molybdenite and (hydro-) oxide of iron (III) was then decomposed by oxygen in alkaline media. Effects of the main parameters, such us oxygen pressure, leaching temperature, solid-liquid phase ratio, autoclave stirring speed as well as lixiviants nature on the molybdenite oxidation rate have been established.

Jan 1, 2000

By Angove JE, Johnson GD

Sulphide concentrates are produced in a wide range of mineral processing operations. In the case of base metals they are further treated by smelting and/or hydrometallurgical techniques. In the case of refractory gold ores, sulphide concentrates containing gold are roasted or oxidised by various hydrometallurgical processes. This paper discusses the development of the Activox(R) Process which can provide an alternative method for treating sulphide concentrates. This process consists of fine or ultra-fine milling, followed by mild pressure oxidation to produce solutions of base metals or to liberate refractory gold. Base metal solutions (eg of nickel and cobalt) can be further processed by solvent extraction and electrowinning, while refractory gold can be recovered by cyanidation. The economics of the Activox(R) Process are often better than alternative oxidation techniques.

Jan 1, 1993

By L Ryan, S Halley

The use of a field spectrometer to systematically analyse drill samples from over 200 holes around the Permian-Carboniferous Ravenswood gold deposits in north-east Queensland has successfully identified both small and deposit-scale changes in the alteration mineral chemistry. Changes in chlorite composition within the tonalite host rocks are evident at the district scale, with Fe-rich chlorites seemingly more common in the vicinity of the deposits. Significant variations in white mica chemistry also occur, but mostly on the vein selvage scale, with no clear distinction between near-mine and distal compositions. The results indicate that chlorite compositional maps produced from regional field or airborne spectrometer data could potentially be used as a vector to ore in exploring for similar deposits in the area. An EXTENDED ABSTRACT is available for download. A full-length paper was not prepared for this presentation.

Jan 1, 2008

By Goodheart B

The Australian Mineral Sands Industry has expanded from the initial export of mixed concentrates in the 1930s, through various development stages, to its current position as a leading world producer of individual mineral products and some further processed products. Opportunities for downstream processing of the separated minerals and locating such developments in Western Australia are reviewed, along with the role of the Western Australian Government in assisting resource development projects.

Jan 1, 1986

Arising from prospecting success, the underlying worth of the shares of a publicly listed mining exploration company can increase many-fold. Prompt and accurate reporting during the exploration stage is therefore essential. While there is scope for varying degrees of optimism or caution in statements about the future economic prospectivity of a mineral deposit which has been discovered, the directors of a mining exploration company have both a legal and ethical obligation to keep their shareholders and the general public fully informed as to the state of progress of, and significant factual results arising from its exploration efforts. Suggestions are made as to the desirable form and content of exploration reports up to and including the time when the orebody has been delineated in terms of assured tonnage and grade. The benefits which will flow from this greater disclosure are discussed.

Jan 1, 1979

Taxation is a major factor in evaluating mining project developments. The availability or otherwise of effective tax relief for project expenditures can have a crucial bearing on the decision to proceed with a project. The special position of the mining industry is recognised within the Income Tax Assessment Act (the "Tax Act") by special legislation, namely Divisions 10, 1OAAA and 10AA. The legislation both extends the scope of items which are eligible for deduction and affects the timing of deductions. Generally, the legislation separates expenditure into 3 categories: 1. Expenditure on exploration 2. Capital expenditure on the development and the running of the mine; and 3. Facilities used in the transport of minerals. Companies evaluating a project should carefully analyse their proposed expenditures, allocating them between these categories so as to identify potentially non-deductible expenditures and to determine the period over which tax relief will be Obtained.

Jan 1, 1983

The precious metallogenic belt and its geoloqical-tectonic location in eastern China.The precious metallogenic belt of eastern China is located in the western part of the Pacific gold metallogenic belt, and occurs in the upper levels of the continent cut by a deep fault structure tending NNE and NE, and active during the Mesozoic. The precious metallogenic period ranges mainly from Late Jurassic to Early Cretaceous (160 Ma-110 Ma); subordinate mineralisation occurred during the Hercynian period, and was rare in the proterozoic.Seven precious metallogenic belts are recognised from east to west, i.e. from continent to the margin active belts, as follows:1. Au-Ag-Te metallogenic belt of East Shandong Province2. Au-Ag-Pb-Zn metallogenic belt of west Liaoning-Miyun area3. Au-Os-Ir-Cr-Cu Mo metallogenic belt of Chengde Pingquan area4. Au-Ag-Pb-Zn metallogenic belt of Zhang Xuan area5. Au-Ag-Pb-Zn metallogenic belt of Zhejiang province6. Au-Ag-Se metallogenic belt of East Qinling area7. Au-Pd-Cu-Mo metallogenic belt of Wansu area

Jan 1, 1990

Australia has historically been a world leader in mining innovations. This trend is reflected in the international patent records, which show that in recent years there has been some recovery in the number of patent filings arising from Australian research. These innovations occur across a wide cross-section of mining technologies and derive from both public and private sector research. Australian mining innovations are largely dominated by new processes and equipment, principally in the areas of rock drilling and coring, strata stabilisation, cutting tools, blasting, mine design and oil field exploitation. They include improvements in drill bits, rock bolts and accessories and wellbore systems. Another area that has received significant research attention has been the in situ thermal processing of coal deposits. High profile examples of Australian mining innovations include the æSORDMinerÆ, a remote-controlled mining machine for use in mining collapsing wet environments, and CSIROÆs SMART*CUT rock cutting pick that dramatically increases the rate of cutting hard rock. This paper will provide an overview of recent innovations in Australian mining, as reflected in the international patent records, including the organisations and individuals active in the field, and the technological nature of specific innovations.

Jan 1, 2008

The Warner Process has been devised to produce zinc metal directly from sulphide, thereby reducing the requirements for purchase of large amounts of energy in a special form. The process conditions for a practical process have been evaluated in an extensive program of research and development at the University of Birmingham. Recorded data now exists to take the process forward to commercial use within the next five years. The industrial economics have been evaluated. The cost of making zinc metal from zinc sulphide ore can be substantially lowered due to the reduced energy cost, locating zinc production in the neighbourhood of the mines and increasing ore to metal recoveries - particularly for fine-grained and pyritic ore. Integration of a Warner Furnace with a zinc mine and concentrator can result in a highly attractive return on capital Invested.

Jan 1, 1993

Underground mines in Australia and worldwide are extending to greater depths. The effect of depth brings a number of challenges to mining engineers including geotechnical, ventilation, haulage and selection of mining method. The main effects of depth from a ventilation perspective are increased heat and humidity leading to reductions in productivity, occupational safety and health issues and the potential for fatalities. Numerous approaches have been undertaken over the years to mitigate against these effects. In this paper a review of various approaches to improving climatic conditions at a number of mine sites worldwide is undertaken. From these case studies it is argued that for mines at depth with the potential for a climate problem perhaps an alternative design philosophy to the established design philosophy should be utilised. In conclusion, the paper proposes some simple rules of thumb for use in mines with climate problems or the potential for climate problems.

Jan 1, 2008