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By T. J. Otto, C. H. Cloete, T. Mkhatshwa, T. J. van Heerden

The value realised by an open pit mine depends on the quality and integrity of the mine planning process as well as the level of execution against these mine plans. When managing the execution against the mine plan, how well the mine plan is executed spatially, is of critical importance. The short-term mine plan is the plan that is physically executed on most open pit mines. At the same time, the spatial mine-to-plan compliance is typically reconciled against the annual business plan. Short-term mine planning, therefore, plays an important role in the effectiveness of the spatial mine-to-plan compliance reconciliation process by providing operational teams with detailed designs and schedules, while ensuring that mining execution is spatially aligned with the business plan. The Sishen open pit iron ore mine (Sishen) strives to continuously improve spatial compliance to the business plan. Sishen enhanced the role that short-term mine planning plays in enabling the forward-looking component of the spatial mine-to-plan compliance reconciliation process. The enhanced short-term mine planning process focuses on detailed tactical sequence designs per mining pushback, the health of value chain buffers, spatial plan-to-plan reconciliation, and the associated management routines. This led to improved spatial mine-to-plan compliance to the business plan from 71% to 94% over the four-year period from 2020 to 2023 inclusive. These results indicate that the application of short-term mine planning as part of an integrated spatial mine-to-plan compliance process at open pit mines can contribute positively to improving the level of spatial execution against the business plan. This paper presents the enhancements made to the short-term mine planning process, which other open pit mining operations can consider to improve spatial mine-to-plan compliance.

May 27, 2025

By T. Szendrei, S. Tose

The generally accepted view in rock blasting is that the sources of energy for the fracture and movement of rock reside in the shock wave and gas action resulting from the explosion, and yet the mechanisms by which these sources interact with the rock have remained unclarified. It has also been noted that up to 50% of the work capacity of an explosive released in a blast cannot be accounted for by field measurements of energy partitioning. In this study, we describe a physical model that details the response of rock to both shock wave and gas action. An analytical model based on momentum conservation is derived to describe the dynamics of shock-driven expansion of the blasthole. Radial expansion of the hole is the key parameter that permits the derivation of the following characteristics of rock response to shock loads: hole expansion time; volume of displaced rock; energy consumed per unit volume; expansion energy efficiency; stress wave pulse length; gas pressure in enlarged hole. Soon after the completion of hole expansion, the shock wave degenerates to an elastic stress wave that runs through the burden. Blasthole expansions of between 50% and 300% of diameter are completed in under 1 ms and, depending on rock properties, consume 32% to 42% of the detonation energy or about 55% of the available mechanical (Gurney) energy. Gas pressure in the enlarged holes in five rock types is between 35 MPa and 650 MPa, and drives the mass movement of burden rock.

Oct 9, 2024

By M. S. P. Rampedi

The paper reports on a vacation work project conducted at Khuseleka No. 1 Shaft, Anglo Platinum, where there was a need to optimize the transport of personnel to level 15 and below. Approximately 900 men per hour need to travel between the shaft and the start of the current chairlift system. Time studies were used as the major indicator of the extent of the current problem, and it is recommended that a new chairlift system be installed to cover the distance from the vertical shaft station at level 15 to the chairlift decline station on level 15. A capital cost of approximately R10 million is necessary to carry out the proposed recommendation. Khuseleka No. 1 Shaft has the capacity to wind 1070 people per hour, and the current labour complement going to the level 15 shaft station stands at 1570 employees; thus at optimum efficiency the proposed chairlift system could transport the entire shift to the start of the current chairlift system in only 1 hour and 45 minutes. Reducing the distance walked at the start of the shift may also have an impact on productivity.

Jan 1, 2012

By A. McGarr

The shear stress t that can be sustained by the rock mass in the environs of a mining-induced earthquake controls the near-fault peak ground velocity v of that event according to v=0.25(ß/G)t, where ß is the shear wave speed and G is the modulus of rigidity. To estimate t at mining depths, I review the results of four studies involving Witwatersrand tremors that relate to the bulk shear strength. The first and most general analysis uses the common assumptions that the seismogenic crust is pervasively faulted, has hydrostatic pore pressure before mining, and an extensional stress state that is close to failure. Mining operations reduce the pore pressure to zero within the mine and redistribute the stresses such that, in localized regions, the state of stress is again at the point of failure. Laboratory friction experiments can be used to estimate t in the zero-pore-pressure regime. Second, model calculations of states of stress in the vicinity of mining at about 3 km depth indicated the shear stress available to cause faulting near the centre of a distribution of induced earthquakes. Third, laboratory experiments combined with microscopic analyses of fault gouge from the rupture zone of a mining-induced event provided an estimate of the average shear stress acting on the fault to cause this earthquake at a depth of 2 km. Fourth, moment tensors determined for mining-induced earthquakes usually show substantial implosive components, from which it is straightforward to estimate t. These four different analyses yield estimates of t that fall in the range 30to 61 MPa which implies that near-fault particle velocities could be as high as about 1.5 m/s. To the extent that the causative fault ruptures previously intact rock, both t and v, in localized regions, could be several times higher than 61 MPa and 1.5 m/s.

Jan 1, 2002

By G. Hangone

Paper written on project work carried out in partial fulfilment of MSc thesis This paper investigates the effects of thiol collectors: xanthates, dithiophosphates, dithiocarbamates and mixtures of these on the froth flotation performance obtained with a bornite-rich copper sulphide ore from Okiep Copper Mine with a feed grade of 1.8%copper. Batch flotation tests were used to assess the performance in terms of mass-water recovery, sulphur grade-recovery and copper grade-recovery relationships and the Klimpel rate constant for copper recovery. The results showed that the di-ethyl-dithiocar-bamate (di C2-DTC) was the weakest collector of copper sulphide minerals. Highest copper recoveries were obtained with the di-ethyl-dithiophosphate (di C2-DTP), which were accompanied with more watery froths and lower copper grades demonstrating frothing properties in addition to collector action. Superior copper recoveries were obtained with the 90% ethyl xanthate (C2-X):10% di-ethyl-dithiophosphate (di C2-DTP) and 90% ethyl xanthate (C2-X):10%di-ethyl-dithiocarbamate (di C2-DTC) collector mixtures compared to that obtained with ethyl xanthate at an equivalent collector dosage of 0.139 mol/ton ore (a dosage equivalent to 20 g sodium ethyl xanthate per ton ore). A superior copper grade was obtained with the 90% ethyl xanthate: 10% di-ethyl-dithiocarbamate collector mixture at a dosage of 0.0695 mol/ton ore compared to that obtained with ethyl xanthate at the same equivalent dosage. Keywords: flotation, collector mixtures, copper sulphide ore

Jan 1, 2005

By M. van Biljon

The possible closure and subsequent flooding of South Deep Gold Mine?s neighbouring Randfontein Estates Limited No. 4 Shaft (REL 4) necessitated the construction of five concrete plugs in the connecting tunnels to prevent the ingress of groundwater into REL4 from flooding South Deep mine. Several technical investigations had been carried out before and during construction of the plugs in order to reduce the probability of groundwater flow through the boundary pillar between the two mines or through the rock mass immediately around the plugs. This paper describes the geological, hydrogeological and stability investigations carried out to evaluate the structural competence of the boundary pillar.

Jan 1, 2006

By M. Grodner

Underground excavations exhibit different hangingwall conditions in response to varying geotechnical and mining situations. These differences need to be quantified so as to accurately determine the effectiveness of the mining and/or support strategies. A useful tool for the quantification of these differences is hangingwall profiling. Two methods of hangingwall profile measurement are described?termed irregular and periodic methods. Several data analysis techniques are reviewed for these methods and the suitable ones are discussed in detail. For irregular data the suitable techniques are the determination of the length, the average of the profile and the average absolute deviation from the mean of the profile. All of these techniques as well as determination of the moving average of the height and examination of the spectral image of the profile can be successfully applied to regular data. The effect of preconditioning on the hangingwall is discussed as an example and it is quantitatively shown that it results in improvements of conditions. The techniques described allow the engineer to quantitatively identify the appropriate support type or mining strategy and thus represent a valuable decision-making tool. It is suggested that these techniques should be employed on a routine basis by the rock engineers on the mines as part of their geotechnical classification, as well as support manufacturers to quantify the effectiveness of various support types.

Jan 1, 2000

Bateman Engineering managed the establishment of a second diamond treatment plant at the Letseng Mine in the Mokhotlong District of northern Lesotho, about 100 km from the town of Buthe Buthe. Letseng Diamonds Proprietary Limited, is owned 70 % by Gem Diamonds and 30 % by the Government of the Kingdom of Lesotho. The second plant, which commenced construction in late 2006, doubled Letseng Mines' hard rock processing capacity from 2.6 million t/yr to 5.2 million t/yr, making it the worlds' seventh largest diamond mine by throughput. Bateman Engineering provided the engineering design, procurement and construction management of the new plant.

Jan 1, 2010

By M. Tang, X. Tong

"SynopsisSlime coating is one of the most common ways for serpentines to contaminate metallic mineral concentrates during traditional flotation of coarse sulphide particles. This could pose quite a complicated and challenging problem in the case of some types of low-grade and finely disseminated Cu-Ni ores bearing high serpentine contents. This is the case for the copper and nickel sulphides from the Yunnan Mine, China. Previous batch flotation tests of this ore resulted in satisfactory recoveries of 86.92% Cu, 54.92% Ni, and 74.73% Pt+Pd, and concentrate grades of 4.02% Cu, 3.24% Ni, and 76.61 g/t Pt+Pd. However, the MgO content in these concentrates was more than 19%. In the current study, microflotation tests and settling rate tests were introduced to investigate the effects of a combination of strong collectors (a 2:1 weight ratio of butyl xanthate and butyl ammonium dithophosphate) on entrainment of serpentines in metallic mineral concentrate, as well as visual observations of the concentrates in suspension using still photography. All test results indicated the presence of serpentines entrapped in the hydrophobic flocs that resulted from these collectors, even with the use of effective gangue depressants. These strong collectors are used to flocculate the ultra-fine sulphides by forming loose and ‘fluffy’ hydrophobic flocs. However, these hydrophobic flocs may also be able to load or entrap some serpentine slimes into the concentrate, and this entrained serpentine could be harder to remove by using depressants or intensified conditioning than serpentine slime coating on the particle surfaces.IntroductionSerpentine minerals, which have the generalized composition (Mg,Fe)3Si2O5(OH)4, can be easy to crush and grind due to their convoluted and bent layered structures. These serpentines can hinder the enrichment of some metallic minerals and dilute their concentrates by entrainment during flotation. The resulting high pulp viscosities, slime coatings, and high content of dissolved ions adversely affect the flotation recoveries of copper and nickel sulphides, and high levels of MgO entrained in the concentrates lead to heavy penalties from smelters. Since the quality of nickel flotation concentrate depends heavily on its MgO content (generally less than 6–7% for No.1 or 2 grade nickel concentrate according to the standard requirement from National Nonferrous Industry), reducing the entrainment of serpentine during flotation is becoming more and more pressing. Previous research has focused on the collectors and depressants that are commonly used in copper-nickel flotation, as well as their interaction mechanisms."

Jan 1, 2015

By P. de A. Barbosa, M. G. Bergerman, E. da Fonseca

Located in the state of Pará, Brazil, the Sossego copper and gold mine consists of a heterogeneous geological deposit. Its complexity derives from the hydrothermal alteration, the ore-forming event, which modified the host rocks, such as granite, and metamorphosed volcanic rocks into several mineral assemblages. Different mineral assemblages have led to differences in abrasiveness. A few Bond abrasion tests conducted during the mine feasibility study did not provide a robust abrasiveness database, thus the variation of physical properties for some mineralisation host rocks was not possible. Although several test methods may be used to determine ore abrasiveness, the Bond method is the one most commonly used in the mining industry. Despite being simple to carry out, this test method has certain limitations as to particle size and the amount of ore sample required, which often makes it difficult or even impossible to apply in the early stages of a project and in geometallurgical studies. The Laboratoire Central des Ponts et Chaussées (LCPC) test may provide an alternative, as it requires a smaller amount of fine-grained material. This study aimed to provide data on wear properties of various ore types from Sossego mine using the LCPC method. It included validation for 40 different ore samples using the Bond test as a benchmark. The results showed good correlation, indicating it may be possible to use the LCPC test as an alternative to the Bond abrasion test. A high abrasiveness index was found for acid metavolcanic rock, confirming the results observed in Sossego mill’s operating database, pointing to a mineralogical drive to amorphous quartz. Keywords: Abrasiveness, geometallurgy, copper ore, Bond abrasion test, LCPC

Jan 1, 2020

By Willem Le Roux

The common law requires an employer to take reasonable steps for the safety of employees. In general, the duty of care means that the employer, acting personally or through its employees or agents, must take reasonable care for the safety of its employees (Van Deventer v Workmen?s Compensation Commissioner; 1962 (4) SA 28 T; Oosthuizen v Homegas (Pty) Ltd 1992 (3) SA 463 T).The duty of care includes the provision of safe premises, safe machinery and tools and a safe system of work. The obligation is not an absolute one, but is restricted by the concept of reasonableness. The common law duty may, in certain cases, include the assessment of hazards and risks. 2 International law Great emphasis has been placed in the Western world on the prevention of occupational diseases and injuries. Detailed statutes and regulations govern specific industries in many countries. See, e.g. the Control of Substances Hazardous to Health Regulations of the United Kingdom and various regulations applicable to the use of asbestos and lead, fire protection, mines and quarries, petroleum, etc. Risk management is an important part of managing health and safety. In the United Kingdom, the Management of Health and Safety at Work Regulations, 1999, require every employer to make a ?suitable and sufficient assessment of the risks to health and safety of his employees to which they are exposed whilst they are at work?. The particularity of the assessment is determined by the risk in question.

Jan 1, 2011

By V Kveldsvik, N Ragvin, T Eiken, G Grøneng, G V. Ganerød

Catastrophic rock slope failures have caused destructive tsunamis in Norwegian fjords. At the Åknes rock slope the tsunami generating potential is large due to the potential large volume involved in a possible catastrophic failure. Widening of the upper crack has been recorded since 1986, and in recent years, a quite extensive investigation and monitorin campaign has been conducted. Data from some of these investigations are presented and analysed with respect to a preliminary evaluation of the stability of the slope.

Jan 1, 2006

By N. E. Yasitli

There is a considerable amount of lignite reserve in the form of thick seams in Turkey. It is rather complicated to predict the characteristics of strata response to mining operation in thick seams. However, a comprehensive evaluation of ground behaviour is a prerequisite for maintaining an efficient production, especially when top coal winning by means of caving behind the face is applied. A comprehensive modelling of deformations and induced stresses is vital for the selection of optimum production strategy. In this study, numerical modelling and analysis of a longwall panel at Omerler underground coalmine have been carried out by using the software called FLAC3D developed based on the finite difference technique. Firstly, a 3-D numerical model of the M3 panel has been prepared. Secondly, induced stresses formed around the longwall face have been determined as a function of face advance where the face was located at the bottom of thick coal-seam. Results obtained from modelling studies have revealed that the front abutment vertical stress was maximum at 7 metres in front of the face and magnitude of front abutment stress was found to increase up to a distance of 200 metres away from the face start line. As the face was further advanced after 200 m from the face start line, there was not any significant change in the characteristics of front abutment stresses. Results of numerical analysis of the panel were in good agreement with in situ observations.

Jan 1, 2005

By J. O. Claassen

"Homogeneous populations are required to perform descriptive, probabilistic, and inference statistics and to support stable, predictable mining operations. The geological and downstream processing environments are, however, highly heterogeneous. The complex nature of mining environments requires means to identify and define multipopulation environments that could affect the performance of mining value chains. A study performed at several operating mines suggests that the impact of heterogeneous or variable geological, mining, and plant processing environments on overall mining value chain performance may not be a key focus area at these operations. This was illustrated through the use of basic and spatial statistics, which included the log-probability plot, a modified range equation, and chronovariography. The findings reflect high relative variability in the geological and processing environments studied and mining operators’ inability to effectively deal with the sources and consequences of variability. The study suggests that a focus on heterogeneity in complex mining operations may significantly enhance overall mining performance. IntroductionHeterogeneity and why it mattersHeterogeneity refers to a state or quality of being variable/diverse and comprising different non-compatible elements or parts. In statistical terms a heterogeneous population can refer to a population comprising different non-compatible sub-populations or a multipopulation environment. The latter is commonly found in natural environments such as geological environments (Bardossy and Fodor, 2001). The inherent heterogeneity of complex geological environments is also referred to as spatial heterogeneity. Heterogeneity or variability, however, also occurs over time at mining operations. A case in point is variable ore composition on a conveyance system feeding a processing plant or product stockpile.Heterogeneity associated with the mining environment can significantly influence key aspects of day-to-day mining operations such as sampling, the use of descriptive, probabilistic, and inference calculations, and an operation’s ability to manage and control the mining value chain as a whole."

Jan 1, 2016

By Y. Zhang, F. Zhu, Y. Zhao, L. Dong, Y. Li

In order to obtain a more suitable separation medium for fine coal, in this paper a pulsed fluidised bed was used to measure the pressure fluctuation, density characteristics, bubble diameter and rising velocity of Geldart A and B particles in the bed by controlling the pulsation frequency and gas velocity, in order to study the fluidisation effect and two-phase distribution of the bed. The results indicated that with the increase of pulsation frequency, the breakthrough point on the fluidisation characteristic curve caused by particle adhesion disappeared, and there was an optimal frequency, which made the minimum fluidisation velocity of particles reach the minimum. In addition, the bubble rising velocity was also simulated. The relationship between them was established using a model, and the error was within 5%. This provides an effective way to predict the bubble velocity, study the distribution of bubble phase, and improve the stability of bed density. Keywords：Frequency, flow velocity, pressure fluctuation, bed density, bubble

Jan 1, 2020

By D. Govender

Theoretical flotation models suggest that there is a positive relationship between bubble-particle collision rates and turbulent kinetic energy dissipation. Fine particle flotation performance is generally enhanced by increased collision frequency and hence higher energy dissipation. Contrarily, increased turbulence in the rotor-stator region is related to higher detachment frequency of the coarser size range. Therefore, the optimal modes of recovery for the 'fine' and 'coarse' size classes appear to be diametrically opposed. Industrial applications have previously confirmed that applying greater power to flotation slurries yields significant improvements in fine particle recovery. However, recovery of the coarser size class favours a different flotation environment. An improvement in the flotation kinetics of the fine and coarse size classes, provided there is no adverse metallurgical influence on the intermediate size ranges, is obviously beneficial to the overall recovery response. Managing the local turbulent kinetic energy dissipation, and hence the power imparted to the slurry, offers the benefit of targeting the particle size ranges exhibiting slower kinetics. FLSmidth recently introduced the practical implementation of this concept. In principle, it decouples flotation regimes where fine and coarse particles exhibit preferentially recovery. In the case of naturally aspirated machines (Wemco®), it is referred to as Hybrid Energy Flotation? and incorporates at least three phases: > Standard flotation machines (standard energy input, rotor speed (r/min), rotor size/type) at the beginning of the row, where flotation is typically froth-phase limited and operational and set-up parameters have a limited influence on the recovery > Higher-powered flotation machines (high rotor speed, high-power rotor size/type) at the end of the row to improve fine particle recovery > Lower-powered flotation machines (low rotor speed, low power rotor size/type) to enhance coarse particle recovery. A CFD-based flotation model is used to highlight the effect of turbulent dissipation energy on attachment and detachment rates. Preferential collection zones for fine, and 'coarse' particles are predicted for both forced-air and naturally aspirated machines. The greater predominance of UG2 ore types, coupled with the skewed feed distribution of platinum group metals (PGMs) to the finer size fractions, suggests that PGM flotation circuits are not designed for optimal recovery across the size distribution. The application of the hybrid energy concept to PGM flotation offers a possible shift towards a more efficient flotation circuit solution through a managed distribution of energy.

Jan 1, 2013

A typical sub-level block cave mining extraction method employs an undercut level to establish a cavity in hard rock, and as such requires special support methods and products to be installed during the development phase. The undercut level development in the block cave orebody is then sacrificial, and support elements will eventually report to the crusher and perhaps conveyor belt systems for transportation to surface. The choice of support products installed in the undercut level development should take cognizance of the detrimental effect these could have on the mining system such as cutting of conveyor belts, obstructing crushers, safety aspects, and productivity. This work explores the probability and practicality of making use of new-generation support products to make the operation safer as well as enhance productivity in the development phase and during the undercut operation. This paper will investigate the use of glass reinforced plastic(GRP) rockbolts and GRP mesh instead of conventional steel bolts and mesh along with resin capsule-filled holes with the GRP bolts. Complementing this with thin spray liner (TSL) application as another means of creating a safer operating environment, as well as a productive support medium, will also be addressed. These proposed items are envisaged to reduce production downtime and improve the safety of our people. These items are all easy and light to handle, cuttable and crusher friendly, as they will break up during the crushing process.

Jan 1, 2012

By Z. Leng

"After detonation of the explosive, the final blast-induced damage area around the blast-hole falls into three categories, namely crushed zone, fractured zone, and elastic deformation zone. This paper presents a modified model to calculate the size of crushed zone around a blast-hole in drill-and-blast, with the hoop compressive stress and cavity expansion effect taken into account. The material in the crushed zone was assumed to be a granular medium without cohesion, but with internal friction. On this basis, the formula for crushing zone radius was derived. The proposed approach was verified with tests reported in the literature and the simulated results from SPH-FEM coupled models. A full statistical analysis was also carried out, and the predicted values were found to be in better agreement with the test results compared with other models. A sensitivity analysis of the modified model showed that the size of the blast-induced damage area is mainly affected by the following factors: rock mass properties, in situ stress, and borehole pressure. In particular, the roles of borehole pressure and in situ stress are discussed. Finally, suggestions are made on how the size of the crushing zones can be decreased. IntroductionOver the past decades, drill-and-blast has become the most commonly used technology in rock excavation. It is well known that in rock mass fragmentation with explosives, the annular rocks around the blast-hole are converted into fines. The formation of these fines consumes a significant part of the energy of the detonation, which in general is ignored in the determination of the efficiency of detonation (Glatolenkov and Ivanov, 1992; Furtney et al., 2012). Many studies show that only 20–30% of the total explosive energy is effectively used in fragmenting the rock, and up to 50% of the energy generated by conventional charges is wasted in overcrushing of the crushed zone and the inner part of the fractured zone (Ouchterlony et al., 2004; Sanchidrian et al., 2007). How to control the crushed zone to enhance the effective utilization of explosive energy, reducing the unit explosive consumption and the engineering cost, is therefore of great significance."

Jan 1, 2016

By T. Grewar

"South Africa is a water-scarce country, rated as one of the 30 driest countries in the world. Worryingly, government expects water demand to outstrip supply as early as 2025. The South African government believes that substantial volumes of water can be made available through the reuse of treated mining-impacted water. Currently, however, large volumes of treated mining-impacted water are produced, often with no end use in mind other than discharge or disposal, when these treated effluents may have further uses in applications which are currently and unnecessarily using high-quality water. Treating the wastewaters to levels that meet ’fitness-for-use’ guidelines for alternative applications such as agriculture, sanitation, or industrial processes will reduce the treatment cost burden compared to potable water production. The primary conclusion of this review is that the most suitable option for re-using treated mine-impacted water is in agriculture, for irrigation of crops (food, forage, or energy crops), which currently and unnecessarily makes use of the majority of South Africa’s high-quality resources or potable water. Other findings include the realization that although guidelines and legislation for water re-use in South Africa exist and are readily available, they tend to be contradictory and confusing in many cases. It is imperative that these ambiguities and incongruities in the available guidelines and legislation for water re-use be clarified and updated swiftly IntroductionSouth Africa is a water-scarce country and is currently rated as one of the 30 driest countries in the world, with an average rainfall of 490 mm/a, approximately half of the global average. As an indicator of the degree of regional variability in South Africa’s water supply, it has been shown that 70% of all runoff is from approximately 20% of the land area. Regardless of the water scarcity faced in South Africa, our water conservation track record is poor, with an average consumption of 280 L/d per person, almost 60% more than the global average of 175 L/d per person. Around 40% of this allocation is utilized in watering lawns and gardens (Zhuwakinyu, 2017).The South African government predicts water demand to outstrip supply as early as 2025. On an international scale, the situation appears just as dire, with the United Nations High Level Panel on Water (HLPW) expecting a 40% water shortfall by 2030, which may affect up to 1.8 billion people based on current water demand trajectories (Zhuwakinyu, 2017)."

Mar 1, 2019

By J. Zwartendyk, A. Azis

"Every nation must decide how it should exploit its mineral resources so as to contribute most to its national objectives. It is argued that the present value of the future corporate income tax flow derived from mineral exploitation may serve as a useful indicator in moving toward a taxation policy that would contribute optimally toward the greatest public benefit.The future stream of corporate income taxes depends largely on the mineral endowment, consisting of deposits now being mined, known unmined deposits, and unknown deposits.Unknown deposits may be estimated by geological inference. Both known and unknown deposits can be categorized according to grade and size, and divided into economic and uneconomic deposits on the basis of certain prices, costs, rate of return and taxation levels.Computer simulations can be run of discounted cash flow models at various taxation levels to show the impact of taxation changes on future tax revenues."

Jan 1, 2014