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By E. Minnaar, P. J. Cilliers, M. Bellino, L. M. Roux, R. Dye

The classic technique to remove impurities in a cobalt stream is selective precipitation. This is usually followed by re-leaching to produce an advanced electrolyte for cobalt electrowinning. Although this technique ensures an adequate cobalt concentration in the electrowinning circuit, some of the consequences include unwanted losses through the numerous selective precipitation steps resulting in lower recoveries. One plant that currently utilizes selective precipitation is the Luilu Metallurgical Plant (Luilu) in the Democratic Republic of the Congo. This paper evaluates the benefits of using solvent extraction technology as a purification step in the Luilu Process with the aim of further increasing the overall cobalt recovery and to ensure that a suitable cobalt concentration in the advanced electrolyte is achieved. The implementation of a solvent extraction-electrowinning process is found to be beneficial in terms of achieving improved recoveries and cobalt cathode quality, however there are many other factors that impact the success of converting from the classic precipitation process used at Luilu.

Jan 1, 2007

This paper summarises some observations regarding the way SAG and AG mills work based on the last ten years of pilot plant operation, grinding circuit design and operational reviews for various projects in Australia and overseas. The main purpose is to promote discussion on key factors influencing breakage in a SAG mill. The focus of the paper is on two questions: ? How do mill lifters and liners really work and have an effect on grinding? ? How does the mill charge composition impact on grinding performance? The focus of the paper is on observations of mill behaviour in both pilot plant trials and plant operation, particularly on Cadia ore. DEM, by others, and JKSimMet modelling of SAG mill performance have greatly assisted in forming the ideas expressed in the paper and both are valuable tools in developing our understanding of the comminution process. Put in the `extreme' form the major observations and conclusions expressed in this paper are that: ? the main purpose of mill lifters is to reduce mill liner wear and not to promote rock breakage; ? the often promoted theory that balls impacting the ?toe of the charge? is a dominant form of breakage is incorrect; and ? fines production in a SAG mill is primarily a function of the rock load mass, with a secondary dependence on ball load for any given circuit configuration.

Jan 1, 2007

By N. J. Roodt

Mine dumps created in terms of the pre-MPRDA regime (old order mine dumps) are currently not regulated by the MPRDA, and the common law owners of such dumps are free to process them without the need to obtain the relevant rights. The MPRDA Amendment Act purports to change this position. However, the wording of the Amendment Act raises a number of problems which render the post-amendment position at best unclear and at worst absurd and unworkable. The primary concern with the Amendment Act is that, on one interpretation, material placed on the same dump at different times may be treated differently at law. Thus, parts of a dump may be subject to one person?s right while others may be subject to another?s right. Moreover, case law has generally regarded mine dumps as movable property and, by extending the MPRDA to apply to all mine dumps, the Legislature is extending the ambit of the Act to cover movable property, a scenario not contemplated by the wording of the Act (even after its amendment) in relation to applications for rights. The better interpretation of the amendments, which are not yet in force, is that they will not apply retrospectively to old order mine dumps.

Jan 1, 2010

By G. Mitchell

Much debate has ensued over the past few years on the speed of transformation in the mining industry. By transformation is meant the degree to which the industry has met the requirements of the Mining Charter. In response to this, the Department of Mineral Resources (DMR) commissioned a research study in 2009 to ascertain the degree of industry compliance. The mining industry in response made a presentation to the Minerals Portfolio Committee in Parliament in 2011, during which it released aggregated figures on industry compliance to the Mining Charter. The conclusions of both of the studies are widely divergent. It is argued in this paper that both processes are flawed. The government-sponsored research is empirically and methodologically weak and the results therefore have to be taken with a great degree of caution. The Chamber of Mines figures, on the other hand, while faithful to the reporting of the Chamber member companies, do not represent the entire span of the industry but only the larger mining companies. It is further argued that in order to ascertain a true reflection of the industry an independent audit be undertaken using recognized social scientific survey methods.

Jan 1, 2013

By I. Zemanek, A. Rozsypal

Mrazovka tunnel was excavated under one building whose subsurface space was not possible to reinforce against additional settlements induced by digging. In the presented contribution the risk analysis, warning levels and results of deformation measurements are described. Lespace souterrain d‘un des bâtiments sous lequel le tunnel Mrazovka a été creusé n‘a pu être renforcée contre l‘affaissement supplémentaire provoqué par l‘emplacement du tunnel. Le matériel présenté décrit l‘analyse des risques, le niveau des limites et les résultats des mesures des déformations. Der Untergrund eines der Gebäude, unter dem der Tunnel "Mrazovka" ausgeschachtet wurde, war es nicht möglich, gegen nachträgliches Setzen zu versteifen, hervorgerufen durch die Untertunnelung. Im vorliegenden Beitrag sind Gefahrenanalyse, Grenzwerte und Ergebnisse von Deformationsmessungen beschrieben.

Jan 1, 2003

By N. R. Shoko, J. Chirasha

Refractory design remains the most fundamental factor in furnace construction. Refractory design details and proven technology consideration is of paramount importance to come up with an optimum furnace life and to maintain productivity in the life span of the furnace lining. The failure to produce a technically or operationally durable refractory design lining could give rise to pre-mature deterioration of the refractory lining and furnace shell. The premature failure of the furnace lining will lead to extensive heat losses, furnace bath shift, change in taphole orientation and alteration of the Pitch Circle Diameter. A combination of these were experienced at Zimbabwe Alloys? new high carbon ferrochrome furnace. The Zimbabwe Alloys experience has shown an excellent furnace performance in the first two years of operation although signs of an anomaly showed within the first six months of the new furnace. Production slowed down due to induced problems from refractory failure causing furnace distortions impacting on the availability of the furnace and smelting capacity. This paper presents the lessons learnt, measures taken to deal with the premature failure and constraints within which the situation was managed.

Jan 1, 2007

By V. E. Ross

A computer program was developed that incorporates a novel analysis of the behaviour of the froth in full-scale cells to predict the performance of the froth over a wide range of operating conditions. The program has the distinct advantage that it can be easily implemented on a microcomputer, which allows rapid computation and processing of the results. The program utilizes experimental data obtained in flotation-plant and laboratory testwork to provide parameters for the froth model under an initial set of operating conditions. These parameters can then be used in conjunction with a model describing the transfer of material from the pulp to the froth to predict the performance of the cell when its dimensions and operating variables are changed during scale-up.

Jan 1, 1987

By SAIMM SAIMM

To the members of The South African Institute of Mining and Metallurgy We have audited the annual financial statements of The South African Institute of Mining and Metallurgy set out on pages 575 to 586 for the year ended 30 June 2005. These financial statements are the responsibility of the Institute?s Council. Our responsibility is to express an opinion on these financial statements based on our audit. Scope We have conducted our audit in accordance with International Standards on Auditing. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes: examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements, assessing the accounting principles used and significant estimates made by management, and evaluating the overall financial statement presentation. We believe that our audit provides a reasonable basis for our opinion. Audit opinion In our opinion, the financial statements fairly present, in all material respects, the financial position of the Institute at 30 June 2005 and the results of its operations and cash flows for the year then ended in accordance with South African Statements of Generally Accepted Accounting Practice.

Jan 1, 2005

By I. Satola, J. Aromaa

In this work we have reviewed methods to classify corrosivity of ground waters. Weight loss and stress corrosion cracking (SCC) corrosion tests have been done for rebar and steel strand. No clear indication of SCC was found. The application of tensile stress to 85 % of yield strength increased general corrosion rate significantly in very corrosive waters. The effect of corrosion protection on the axial behavior of steel strands was determined by double pipe axial tests with different embedment lengths. The results showed a significant difference on behavior between epoxy-coated steel strands, galvanized steel strands and plain steel strand. Dans la présente étude, nous avons passé en revue des méthodes permettant de classifier la corrosivité des eaux souterraines. Des tests portant sur les pertes de poids et sur la corrosion FCC (la fissuration par corrosion sous contrainte) ont été effectués pour les barres d’armature et les torons. Aucune indication nette de FCC n’a été constatée. L’application d’une contrainte de traction allant jusqu’à 85 % de la limite d’élasticité a accru de manière significative la vitesse générale de corrosion dans les eaux très corrosives. L’effet de la protection contre la corrosion sur le comportement axial des torons en acier a été déterminé au moyen de tests axiaux à double tube avec des longueurs d’enrobage différentes. Les résultats ont mis en évidence une différence significative quant au comportement entre les torons en acier à revêtement époxy, les torons en acier galvanisés et les torons en acier standard. In dieser Arbeit haben wir Methoden geprüft, die korrosive Wirkung des Grundwassers einstufen. Gewichtsverlust- und SCC-Korrosionstests wurden für Stahlstäbe und Drahtlitzen durchgeführt. Es wurden keine sicheren Hinweise auf Spannungsrisskorrosionsbrüche gefunden. Bei Anwendung einer Dehnbelastung von 85 % der Streckspannung bzw.Ergebnisstärke stieg die allgemeine Korrosionsrate in stark korrosivem Wasser deutlich an. Die Wirkung des Korrosionschutzes bei axialem Verhalten von Stahldrahtlitzen wurde durch axiale Tests an Doppelleitungen unterschiedlicher Versenkungslänge determiniert. Die Ergebnisse zeigten im direkten Vergleich von epoxidbeschichteten, galvanisierten und normalen Stahldrahtlitzen beachtliche Unterschiede im Verhalten auf.

Jan 1, 2003

By R. Singh, A. K. Dhawan, M. Dixit, H. Dev

ABSTRACT: The modulus of deformation of rock mass is an important engineering parameter required for the design of foundation of hydraulic structure and to study the interaction of rock mass and the structure at the foundation support. Different equipment and techniques are used to arrive at the design modulus value. Since any error in the estimation of modulus values results in multiplication of its effects in the analysis, it is necessary to know about the reliability of testing equipment and procedures. In the present study modulus values obtained by different in-situ equipment at different project sites have been compared. KURZFASSUNG: Der Verformungsmodul von der Felsenmasse ist technisch ein wichtiger Parameter, den man zur Konstuktion des Grunds fuer die Hydro – Tektonik, benoetigt um auch die gegenseitige Beeinflussung der Felsenmasse und der Tektonik am Traggrund zu betrachten. Verschiedene Geraete und Methoden werden angewandt, um den Ausfuehrungsmodul -Wert zu erreichen. Es ist erforderlich, die Zuverlaessigkeit der Pruefeinrichtung sowie des Verfahrens zu kennen, da irgend ein Fehler in der Abschaetzung von Modulwerten in der Analyse zu einer Vervielfachung ihrer Einwirkung fuehrt. In der vorligenden Arbeit werden die Modulwerte gewonnen aus unterschiedlichen Einrichtungen an Ort und Stelle and verschiedenen Projekt -Stellen mit einander verglichen. SOMMAIRE: Le module de deformation d’une roche est un parametre important pour la conception et realisation des ouvrages hydrauliques ainsi que pour etudier l’interaction de la roche et de la structure d’appuis de base. De divers equipments et techniques sont employes pour determiner la valeur de ce module de conception. Puisque l’effet d’une erreur d’evaluation du module devient multiplie dans l’analyse, il est necessaire de savoir la fiabilite des equipments et des methods qu’on ulilise. Dans cette etude, on a compare les valeurs des modules obtenues en employant les equipments in-situ aux sites differents de projets.

Jan 1, 2003

By D. J. Mourant

Day-to-day operations on the Broken Hill mine of the Black Mountain Mineral Development (BMMD) Company require a detailed knowledge of the distribution of the ore minerals within the orebody. The data are acquired by systematic underground diamond drilling of the orebody and subsequent geological and analytical borehole logging. These data are then captured onto a database, available for further analysis. Before mining commences in a mining block, copper, lead, zinc, silver and bismuth assay values, and the specific gravity of each sample, are extracted from the database. 3-dimensional variogram and kriging calculations are performed for each geological zone; for all the metals of interest. A computer representation of the mining block in the form of an ore model is then built using these kriged data. From these ore models information is extracted as required by the Geology Department on the mine, and used in numerous operations. These include: daily grade control to supply optimum feed grades to the treatment plant; the compilation of short, medium and long term production schedules; orebody outline definitions for the detailed planning of mining operations; ore resource calculations. The system has been modified and updated since its inception and provides timely information in a production environment.

Jan 1, 1987

To the members of The South African Institute of Mining and Metallurgy I have audited the annual financial statements of The South African Institute of Mining and Metallurgy set out on pages 641 to 644 for the year ended 30 June 2006. These annual financial statements are the responsibility of the Institute?s Council members. My responsibility is to express an opinion on these annual financial statements based on my audit. Scope I conducted my audit in accordance with International Standards on Auditing. Those standards require that I plan and perform the audit to obtain reasonable assurance about whether the annual financial statements are free of material misstatement. An audit includes: ?examining, on a test basis, evidence supporting the amounts and disclosures in the annual financial statements, ?assessing the accounting policies used and significant estimates made by management, and ?evaluating the overall financial statement presentation. I believe that my audit provides a reasonable basis for my opinion. Audit opinion In my opinion, the annual financial statements present fairly, in all material respects, the financial position of the Institute at 30 June 2006 and the results of its operations and cash flows for the year then ended in accordance with generally accepted accounting practice appropriate to the Institute. Supplementary information The supplementary schedule does not form part of the annual financial statements and is presented as additional information. I have not audited this schedule and accordingly do not express an opinion on it.

Jan 1, 2006

By Y. -H. Chang, Y. -J. Jou, T. -S. Ueng, I. -H. Peng

In order to systematically study the size effect on the shear strength of rock joints, this study used the computer-aided-manufacturing system to reproduce the artificial rock joints for saw-toothed joints, Barton's standard joint profiles of JRC = 4~6 and 18~20, and natural rock joint profiles. We divided, enlarged, reduced, and assembled these joint profiles to obtain joint specimens of various sizes ranging from 75 mm to 300 mm in length. The shear strengths of these joint specimens were tested under different normal stresses using a direct shear test apparatus. The surface conditions of the joints at failure were also examined. The size and geometry effects on the shear strengths of these joints of various sizes and configurations were evaluated based on the test results. Um die künstlichen Trennflächen für reguläre dreieckige Trennflächen, Bartonsche standardmäßige Querschnitte der Trennflächen von JRC = 4~6 und 18~20 und natürliche Querschnitte von Trennflächen wiederherzustellen, benutzt diese Forschungsarbeit das Computergestützte-Erstellungssystem, damit die Maßstabswirkung auf die Scherfestigkeit von Trennflächen systematisch untersucht werden kann. Die Querschnitte werden geteilt, vergrößert, verkleinert und zusammengesetzt, um Trennflächenproben in Längen variierend von 75 mm bis 300 mm zu erhalten. Die Scherfestigkeit dieser Trennflächenproben wird unter unterschiedlichen Normalspannungen mit einem Direktscherversuchsgerät getestet. Die Querschnittszustände der Trennflächen bei Versagen werden ebenfalls untersucht. Nach den Untersuchungsergebnissen werden die Maßstabs- und Geometriewirkung auf die Scherfestigkeit dieser Trennflächen verschiedener Größen und Konfigurationen ausgewertet. Pour étudier systématiquement l’effet de la dimension des fractures des roches sur leur résistance au cisaillement un système de creation de fractures artificielles à l’ordinateur a été employé. Des fractures artificielles triangulaires, profils de fractures de Barton avec JRC = 4~6 et 18~20, et profils de fractures naturelles ont été reproduits. Les profils des fractures ont été arrangés de manière à obtenir des échantillons de longueur entre 75 et 300 mm. Une boîte de cisaillement a été utilisée pour étudier la résistance des fractures au cisaillement, sous plusieurs conditions de contraintes normales. Les conditions superficielles des fractures après rupture ont été étudiées. Les résultats de ces essais, effectués sur plusieurs échantillons de dimensions et configurations variées, ont contribué à établir l’influence des dimensions et de la géométrie des fractures sur leur résistance au cisaillement.

Jan 1, 2003

By T. F. Cho, B .. O. You, K. S. Yoon, K. S. Won

Discontinuity Orientation Measurement (DOM) drilling system capable of retrieving the reference line-marked core log, which can be used for determining the relative positions and orientations of discontinuity planes along the borehole axis, has been developed. Accuracy of the borehole joints data measured from the reference-lined core and, eventually, the significance and applicability of DOM drilling system for site exploration are verified by comparing with the spatial characteristics of joints investigated by implementing borehole image-taking instruments in the same borehole. Enhancement of boring efficiency has been also confirmed by performing twin drilling operations, one with DOM drilling system and the other with a conventional drilling machine equipped with D-3 core barrel, on two neighbouring sites of 5 m apart. Ein DOM(Diskontinuitätsorientierungsmessung)-Bohrsystem, das durch Grundlinien markierte Bohrprobelog extrahieren kann und die relativen Lagen und die Orientierungen der sich im Bohrloch verbreitenden Flächen bestimmen kann, ist entwickelt worden. Die Wichtigkeit des DOM-Bohrsystems und dessen Anwendbarkeit auf die Erforschung auf dem Bohrplatz werden dadurch bewiesen, dass man die Genauigkeit der Daten der Bohrlochsspalte, die durch die die Grundlinie zeichnende Bohrprobe gemessen werden, mit dem räumlichen Eigenschaften der Spalte vergleicht, die durch die Bildaufnahme des gleichen Bohrlochs nachgeforscht werden. Un system de sondage, Discontinuity Orientation Measurement (DOM), capable de récupérer des carottes markés en une ligne de référence a été dévelopé. Il peux être utilisé pour déterminer les positions relatives et les orientations des plans de discontinuité le long de l’axe de trou de sonde. Leur signification et applicabilité pour une caractérisation de site est verifiée par une comparaison de la précision des données a propos des joints mesurés a partir des carottes markés et les carac-téristigues spatiales des joints enquêtés par le camera de sondage

Jan 1, 2003

By C. E. Dohm

The paper serves to show the importance of both a geological model and geostatistical model that support one another in mineral resource evaluation. It highlights the advantage of reference models for the geometry, the geological, statistical and geostatistical models of various orebody types and introduces a method for quantifying the combined uncertainty in these models. The example presented reveals how the above levels of information can be applied to add value to a resource evaluation process. It is a generic example in that it is the technique of combining uncertainty in the geological model (boundaries) as well as the grade model to assess the overall risk in the estimation of the resource. Data from the coal industry is used to illustrate the techniques. The geological uncertainty is considered via categorical simulations and these are combined with simulations of the variables (grades, thickness,) being estimated in the resource. The simulation techniques used are based on the application of GSLIB software1and a general discussion of the two simulation processes is included. In conclusion the paper demonstrates how the results of two types of conditional sequential simulation can be combined to produce confidence limits that take both uncertainties into consideration. This technique does not replace the resource estimation; it serves as an additional tool to quantify confidence in the resource evaluation model. The topics considered in this contribution are in terms of continuous improvement of mineral resource evaluation.

Jan 1, 2003

By P. R. Mothemela

The objective of the investigation is to optimize the truck and shovel operations for pre-stripping at New Vaal Colliery by introducing campaign mining. The aim of campaign mining is to improve the efficiency of the loading, hauling, dumping, and maintenance operations which are critical to the success of truck and shovel operations. The current loading (single-sided loading method), hauling, and dumping operations at New Vaal Colliery were found to be inefficient. Time studies were used as a major indicator to highlight the inefficiency of the truck and shovel operations, and it is recommended that an improved loading configuration, hauling, and dumping operations be implemented by using campaign mining. It is also recommended that a service truck be used to maintain the pre-stripping fleet in order to reduce travelling times to the main workshop. As expected, the improved operating conditions will lead to an increase in pre-stripping production.

Jan 1, 2013

By K. -J. Shou

A special three-dimensional boundary element method has been developed for the simulation of the development of fracture zone in rock mass. This approach comprises a boundary element method and a three-dimensional tessellation mesh generator. By using the tessellation generator, a set of pre-defined potential fractures is defined, and the fractures activate when the failure criterion is exceeded. This approach is justified by the reproduction of features observed in laboratory simulations of fracturing in blocks of rock subjected to compression. An attempt is then made to explain some of the attributes of fracture zone surrounding underground openings. Eine spezielle drei-Dimesionen Grenze Element Methode ist entwickelt zu simulieren die Entwicklung der Fraktur Zone in der Steinmasse. Diese Untersuchung benutzt eine Grenze Element Methode und ein drei-Dimensionen tessellation Masche Generator. Durch das Benutzen des Tessellation Generator, ein Satz der vor-bestimmt potentielle Fraktur ist festgelegt. Die Fraktur wird betaetigen, wenn das gescheiterte Kriterium ist uebersteigt und sind in dem Verscheiben-Abbrechen Element eingeschlossen. Diese Untersuchung ist von der Reproduktion der Fraktur justiert, die ins Labor beobachtet wird, um die Fraktur in der von der Kompression unterworfenen Steine zu simulieren. Ein Versuch ist gemacht, um einige Eigenschaften der Fraktur Zone um die untertageoeffnung zu erklaeren. Une méthode tridimensionelle spéciale de élément frontière a été dévélopée pour la simulation du dévélopment d’une zone fracturée dans la massive roche. Cette approche comprend une méthode de élément frontière et un générateur de maillage de la mosaïque tridimensionelle. En utilisant le générateur de mosaïque, une série des fractures potentielles predéfinies est définie avec d’une procédure de la triangulation de Delaunay. Les fractures activent lorsque le critère de rupture est dépassé et sont inclues dans les éléments du déplacement discontinuité. Cette approche est justifiée par la reproduction des caractéristiques observées dans le laboratoire, les simulations des blocs de roche fracturé et sujetés en compression. La tentative est alors fait pour expliquer quelques arttributs d’une zone fracturée alentours les ouvrages soustérrains.

Jan 1, 2003

By N. Watson

Historically the insurance industry's involvement in any project has been relatively late in the process. Often it was a case of the last item to be ticked off the checklist has been to ensure that the insurance is in place. However, in more recent times insurers have imposed more restrictions on the cover they are prepared to provide, which has in some cases necessitated a change in the contracting structure to accommodate the insurance policy(ies). In addition, changing contractual practices have changed the allocation of risk between the various parties involved. This calls for a more proactive approach to the design and implementation of an insurance program for both the construction and operational phases of any resource project. This paper explores how a risk managed approach to the design and implementation of an insurance program for a resource project can align itself with current management approaches to project development. From the authors' experience, this approach is best adopted early on in the project (often in conjunction with the bankable feasibility study) and follows AZ/NZS4360 to objectively examine and compare a wide range of risk exposures of the project in a time-effective manner across the following areas: ? personnel; ? environment; ? general management; ? compliance - legislation, systems, protocols; ? asset management; ? change management; ? financial impacts to the organisation; ? products/services; ? service delivery; and ? technology. Having identified and then analysed the risk exposures according to common consequence and likelihood ratings the next step is to develop a risk map of all considered exposures. The true value of this approach lies in the development and implementation of a risk treatment plan for identified exposures where the exposure is unacceptable. The plans will lead to the optimal solution to the appropriate risk prevention, risk mitigation and risk transfer options available. This paper also examines other benefits to the project that may arise from adopting a risk managed approach in addition to the ability to design an insurance program which recognises the exposures and the ability of the organisation (and other project parties) to retain risk.

Jan 1, 2007

By M. Gericke

Over the past few decades the commercial application of heap bioleaching technology for the extraction of base metals has become increasingly important, due mainly to the depletion of high-grade ore reserves. Heap bioleaching is widely used for the extraction of copper from secondary copper sulphide ores. The design and engineering aspects of the process have received considerable attention, but issues related to the microbiology of the process have been subjected to less rigorous scrutiny. The major role of micro-organisms in bioleaching processes is to catalyse the regeneration of ferric iron and protons, from ferrous iron and by sulphur oxidation respectively. It is accepted that even the most carefully engineered heaps are heterogeneous in terms of temperature, pH, the presence of anaerobic pockets, irrigation efficiency, and dissolved solutes. Since interactions between solution chemistry, mineralogy, and microbial populations exist in heaps, a better understanding of the correlation between microbial numbers and types with changes in these chemical and physical profiles with time would be beneficial during process design and operation of heaps, and could result in faster start-up times and higher metal recoveries. This paper reviews the role of microbiology in heap bioleaching processes. Aspects such as microbial diversity, identification and monitoring of cultures, inoculation strategies, colonization behaviour, and tolerance to metals and salts are discussed, and the potential contribution of the knowledge to the improvement of the operation and design of heap bioleach processes assessed. Conclusions are drawn with respect to the role of genetic engineering, heap inoculation practises, and remaining areas for future heap bioleaching research and development.

Jan 1, 2012

By T. Tholana, P. N. Neingo

"A mineral resource constitutes the principal underlying asset of a mining company, and must be exploited and managed in such a way that maximum value is derived from it. Various asset management frameworks applicable to physical assets are available. This paper focuses on the extension of an asset management approach, particularly the Publicly Available Specifications (PAS) 55 asset management framework and the International Organization for Standardization (ISO) 55000 series of standards, to mineral assets. It is concluded that PAS 55 and the ISO 55000 series of standards can be extended to manage mineral assets, resulting in an integrated approach to sustainably optimize value from the company’s mineral assets. The benefits include improved returns on mineral assets, maximum mineral asset utilization, creation of an organizational culture focused on quality and continuous improvement, and assurance to stakeholders that the mineral assets are being efficiently managed over their entire life-cycle. In the context of this paper, a ‘mineral resource’ refers to both Resources and/or Reserves as classified by the SAMREC Code. IntroductionMining involves the extraction of valuable mineral resources from the Earth’s crust. A mineral resource is unique among natural resources in the sense that it is a wasting asset, which means that its value depreciates continuously with extraction. In addition, it is often impaired from time to time as commodity price changes (Macfarlane, 2011a). Since a mineral resource is a wasting asset there is a single opportunity available to optimize value from its extraction. Mine planning involves identifying a strategy to exploit the mineral resource in a way that maximizes value at an acceptable risk level throughout the life of mine (LOM). This optimum extraction strategy changes as economic conditions change, particularly commodity prices, as well as with improvements in orebody knowledge as mining progresses. It is the mineral deposit that competitively distinguishes two different mines and dictates the location of a mine; hence the adage ‘the orebody dictates’. Therefore, a mineral resource is the primary tangible asset possessed by mining companies and must be managed in such a manner that maximizes its value at an acceptable risk level (Macfarlane, 2011a)."

Jan 1, 2016