Search Documents

By Hll J. K, Zhang Y. G

The wear mechanisms of impregnated diamond drill bit matrices are complex and believed to be the key point in solving drill bit self-sharpening problems. A method has been developed to find the change in c,, the wear rate of matrices having different fracture toughness K_ at the increment of drill pressure P. The worn surfaces of specimens were placed under a scanning electron microscope to examine the wear patterns and wear mechanisms at different pressures, and were compared with the worn surface of a practical drill bit. A model is proposed that within a wide range of pressures there exist two different wear mechanisms and three wear regions for cemented car- bide matrix materials. In region one (linear region), at low pressure, the major wear mechanism is plastic deformation in which the preferential wear of the binder phase of the matrix results in the loss of WC, tung- sten carbide particles. Wear rate is controlled by hardness, H as Archard's formula predicts. Wear enters region two and three (non-linear region) simultaneously as pressure is being increased. Consequently, wear transfers to fracture mechanism in which micro-fracture occurs at the root of wear grooves and the material is removed mainly in piece and mass. It has been shown fracture toughness K,, plays a more important role than hard- ness H. It is concluded that for a specific drilling condition, the pressure on the matrix should be carefully controlled and a balance between hard- ness and toughness of the material is essential for a steady drilling Condition.

Jan 1, 1989

By Rowe J

The case study is based on the largest ore deposit at Mt. Lyell; the Prince Lyell deposit, comprising a regular lensoid mass of dissemina- ted and vein pyrite-chalcopyrite mineralisation. Reserve estimation employs conventional techniques, based on diamond drill hole and relevant development sampling data. Probable ore reserves are estimated using the contouring (isoline) method an longitudinal projections for ore thickness and accumulation (m %Cu) at a '0.8% Cu' cutoff. Final stope and pillar res- erve estimates (proved ore) are derived from designed ring tonnages and contoured accumula- tion for individual mining units, following more intensive sampling. Systematic grade control procedures have been adopted and individual stopes and pillars reconciled against mill production. The proved ore estimates have been found to com- pare favourably with the reconciled production.

Jan 1, 1979

The Porphyry Gold Mine (150km NE of Kalgoorlie) was reopened in November 1983 with production commencing in April 1984. Original reserves quoted for the open pit were 822000 tonnes at 5.2 g/t Au based on wide spaced diamond drill holes. Close spaced grade control drilling has revealed some loss of tonnage and a significantly lower grade. In the area of the pit mined to 30 June 1985 this grade control reserve estimate contained 67% of the gold in the original ore reserve with the grade being 19% lower. It is anticipated that the final grade control reserve estimate will contain around 80-85% of the gold contained in the original reserve. There has been close agreement between the Mill Head grade (4.19 g/t Au) and the grade control predicted grade (4.2 g/t Au) confirming that dilution is not a major problem. After initial poor agreement (attributed to "lock-up" in the circuit) the bullion calculated head grade steadied out at 93% of the grade control prediction. This difference is considered to represent the geostatistical bias in the drill hole/crushed rock sampling. Gold recovery has been in the range 93-95% (compared with bullion calculated grade). The net result is that the recovered grade of ore mined to 30 June 1985 is 70% of the original ore reserve grade.

Jan 1, 1986

By L Rachmad

Freeport IndonesiaÆs Deep Ore Zone (DOZ) mine is the new underground block caving mine within the East Ertsberg Skarn System (EESS) deposit which started production in mid-2000. The DOZ will produce 25 000 tpd using mechanised block cave mining method and will be the fourth underground mine opened within the EESS deposit. Evaluations were made on former block caving mines at PT Freeport Indonesia (IOZ, GBT Area I and II) in order to design a more appropriate support system. As a permanent support, the thread bar bolt support system is widely used in the DOZ mine. The advantages of this system are ease of operation, quality control and high bond strength. The main problem of this system is the curing time of about 28 days to achieve maximum strength, necessitating the installation of a temporary support for its implementation. In this instance, the system was inefficient in operation and studies were required to find an alternative grouting system. This paper examines the evaluation of thread bar bolt support system and compares the performance of two types of grouting (resin cartridge and cement cartridge) with cement grouting performance. The evaluation is conducted with a pull out test. The advantages and disadvantages for each grouting method, comparison of cost estimation and grouting application in mine scale are presented in this paper.

Jan 1, 2002

By Laing W. P, Neill D. M, O&apos

The Reward polymetallic massive sulphide deposit occurs 35 km south of Charters Towers, adjacent to the Highway gold deposit (Fig. 1). It is hosted within rhyolitic lavas and interlayered volcaniclastics of the Cambro-Ordovician Mt Windsor Volcanics. Reward is a "blind" deposit discovered in 1987 after a long history of exploration by various companies in the area. The main pyrite dominant massive sulphide body occurs under 100m combined thickness of Tertiary fluviatile sediments overlying deeply weathered gossanous volcanics. The exploration case-history provides a striking example of how geological and structural models can be built up almost exclusively from drill information. Four different styles and ages of mineralisation are present: 1) volcanogenic Cu+Pb+Zn+Ag+Au massive sulphides of probable syngenetic origin; 2) remobilised Cu+Au in massive pyrite of metamorphic/deformational origin; 3) supergene and 4) oxide Cu+Au mineralisation of weathering origin. The massive pyrite body, containing chalcopyrite lenses, transects the stratigraphy and is inferred to contain in excess of 5 million tonnes. Overlying the primary mineralisation a supergene chalcocite rich zone contains a measured/indicated resource of 634,231 tonnes of 6.77% Cu which includes 287,000 tonnes of 1.32 g/t Au and 18 g/t Ag. In addition a measured/inferred oxide resource of 309,000 tonnes of 5 g/t Au and 27 g/t Ag overlies the supergene zone.

Jan 1, 1989

By W Roy

When it comes to plan implementation and securing success in organisations in the 21st century, if there was such a thing as the secret to success it would be effective communication. Commoditisation brings financial, operational and cultural advantages to organisations that use effective communication. Effective communication tools turn æpeople problemsÆ into system control solutions, removing personality clashes that hide procedural malfunctions. By introducing communications frameworks available in the market place today, and case studies of their use, this paper provides insights into the successes available to organisations courageous enough to redefine their communications for the 21st century.

Jan 1, 2006

The Nickel Rim Depth Cu-Ni-PGE deposit, discovered by Falconbridge Limited in 1993, illustrates several trends in exploration in the Sudbury area. Recent discoveries tend to be deep, high grade, footwall hosted, close to or straddle property boundaries and made using a multi-disciplinarian exploration approach that integrates economic considerations with geology, metal geochemistry and geophysics (borehole EM). The Nickel Rim deposit occurs down dip of Inco's Victor Deep deposit (4.2 million tonnes at 2.25 per cent Ni, 7.30 per cent Cu) in the eastern margin of the Sudbury Igneous Complex (SIC) at a depth of 2650 m. Before commencing drilling an economic evaluation was done to determine the minimum size needed to be economic at the expected depths and determine the expected value of an exploration venture. The subsequent surface exploration program discovered a drill indicated, undiluted mineral inventory of 1.6 million tonnes of 1.58 per cent Ni, 10.13 per cent Cu, 4.17g/t Pt and 3.50 g/t Pd including 519 000 tonnes of 4.13 per cent Ni, 25.53 per cent Cu, 9.76 g/t Pt and 8.42 g/t Pd. The deposit is hosted by gneiss, migmatite, gabbro and pseudotachylite (Sudbury Breccia) 100 m below the base of the SIC.

Jan 1, 1996

By B Newcombe

From many years practical industrial experience the author has drawn together a list of the key points to consider when embarking on a large-scale geometallurgical project. Fundamental aspects which must be considered include (but are not limited to):understanding the variability of the orebody both laterally and with depth;comminution properties and variability;flotation properties, requirements and variability – differing ore zones may have substantially different requirements for optimal performance;the role of texture – the consequences of both grain size and distribution and how the circuit will handle these;realistic expectation in terms of the financial requirements and time frame results are required within; andintegration of, and communication between key personnel within the various departments of the site (mining, geology and processing) is a fundamental aspect of any geometallurgically based processing system. An example of a highly complex nickel sulfide ore will be used as the basis of discussion.

Sep 5, 2011

By J Light

Since 2019, the mine planning team at Olympic Dam has been establishing and maturing a shift from deterministic to probabilistic scheduling techniques. This paper outlines this journey undertaken by the mine planning team, key learnings from implementation and further work required to increase the level of planning maturity. Olympic Dam (OD) is a highly variable, polymetallic orebody with a vertically integrated value chain from operations to final product. The processing plant has a tight set of quality constraints which are managed through timing of stopes from varying parts of the orebody. Value is eroded for the operation when forecasted quality of the mine feed encounters disruptions from unplanned changes to the timing of stope starts. As production has moved from the historic Northern Mining Area into the more geologically complex Southern Mining Area, average stope size has reduced, resulting in increased mining fronts required to meet production targets. This has created a problem of increased schedule complexity and difficulties in identifying and communicating resource priorities within a large set of individual stope critical paths. The problem was approached by considering each stope as an individual project constructed by teams working across multiple projects at any one time. The operation could then be considered a multi-project environment with shared resources and enables the application of Critical Chain Project Management (CCPM) to the mine plan. Key to CCPM is the addition of time buffers to protect the critical path of a project form upstream or downstream processes. Implementation of time buffers protects the stope start date against compliance to plan variance. The monitoring of each time buffer consumption, as a proportion of total construction activities completed enables proactive prioritisation of resources. This resulted in an increase in the number of stopes starting in accordance with the mine plan, simplified communication of priorities to all levels of the operation, increased compliance to plan and a clear measure of schedule risk during planning routines.

Mar 29, 2023

By C Wels

Current best management practice requires the placement of a cover onto most types of mine waste including tailings, waste rock and/or spent heap leach rock at closure of the mine. The objectives of a cover system may vary from site to site but generally include dust and erosion control; chemical stabilisation of acid-forming mine waste (through control of oxygen ingress) contaminant release control (through control of infiltration); and/or provision of a growth medium for establishment of sustainable vegetation. In our experience, there has been a general tendency by stakeholders to develop performance criteria for cover systems, which are tied directly to these specific design objectives. In many cases, this practice has led to the development of single, often very conservative, numerical values of cover performance criteria such as ænet percolationÆ, ærate of oxygen ingressÆ and/or æplant density/mixtureÆ. In our opinion, there is a need to develop cover performance criteria on a case-by-case basis and with due consideration of the short-term and long-term impacts on the receiving environment at a particular site. This paper puts forward a methodology for developing site-specific performance criteria for a cover system designed to isolate acid-forming mine waste and to control acid rock drainage. The proposed methodology links the predicted performance of a cover system to groundwater and surface water impacts. This way, the appropriate level of control (of oxygen ingress and/or net percolation) required by the cover system can be determined. A case study is presented that illustrates the application of the methodology proposed in this paper.

Jan 1, 2003

By J Player, G Sweby, S Webber, E Jones

Seismic systems are a tool for the monitoring and forecasting the rock mass response to excavation. Common issues encountered at mine site audits and reviews are: how to design an effective seismic system, implementation of the design, interpretation of seismic source results and understanding the reliability of the seismic source. These issues are often a function of several items including: • Experience of site personnel in undertaking seismic system design. • Personnel not envisioning multiple phases of system expansion to understand system robustness issues. • System design/expansion occurring in response to damaging seismic activity rather than planned expansion of a system • The mine access development is often localised in comparison to the total orebody being mined hence, planning sensors in longholes in advance of development rather than in short holes close to development will improve the three-dimensional aspect of the network. • Limited site processing of the seismic event data, hence engineers do not see the uncertainty associated with event location, size, source and system layout. Mine site users require a framework to appreciate the challenges and limitations in locating large events. For example, event locations are given as precise measurements (to the nearest centimetre) whereas the volume of deformation resulting in the event often has dimensions of tens of metres or more (as defined by the source radius). A stronger awareness of the uncertainty of rock mass yield within large seismic sources will assist site users in the interpretation of rock mass damage. The encountered design and implementation errors are reviewed and discussed with a practical set of rules presented to provide a robust seismic system that provides consistent results and increases the user’s understanding of uncertainty in source location and size. The authors’ experience across multiple mine sites, seismic systems and damaging seismic events over a 30 year period has been summarised into practical rules for site personnel of all experience levels.

Nov 29, 2022

By E A. Gunn, J Zhou

In this paper a project to develop a joint optimisation/simulation model for production planning in a mine-mill complex is presented. The system involves a mill receiving ore from a number of different locations, each with a unique mineral composition. The mill consists of several crushing and grinding circuits that function in series and parallel. Scheduling the flow of materials through the mill is complex due to constraints on throughput imposed by the millÆs design, the length of time material can be stockpiled on the surface, varying input mineral composition, and throughput targets for a range of output products.An optimisation model is used to create a set of campaigns (ore feed rates) over a given planning horizon under the assumption of deterministic mill throughput. A simulation model is used to evaluate the production plan under assumptions of stochastic machine failure and operational losses created by the need to cycle between input feeds. Campaign scheduling has two important implications for the simulation. First, during any campaign, multiple ore types may need to flow through the mill. However, the mill must be controlled to ensure that only one type of ore can be in a crusher, a grinder or a storage bin at any point in time. Second, as the mill switches from one campaign to another, the set of ores being processed may differ. Thus, the flow of ore through the equipment during a campaign changeover must be controlled to ensure that one or more of the ores from the current campaign can be completely eliminated before the ores from the new campaign are introduced.The simulation architecture employed for this project is Visual Basic for Applications (VBA) combined with MS-Excel as a user interface. A fixed step discrete event orientation is assumed as the simulation framework. A set of model constructs was built for the project with a specific Canadian milling operation in mind, but was designed to be representative of a broad class of milling operations. The constructs are implemented as class objects within the VBA structure, each with a number of properties and methods. The collection of VBA objects forms a composable modelling toolkit. These objects can be linked together by users, via MS-Excel, to represent a broad range of milling operations.

Sep 26, 2011

By S E. Thornett, P L. Kitto, R S. Longley

"The Mbalam Iron Ore Project covers mineralisation in two areas of metamorphosed hematitic banded iron formation (itabirite) in the north-west Congo Craton; namely at Mbarga in south-east Cameroon and at Nabeba in north-west Republic of Congo. The site locations are shown in Figures 1 and 2.The Mbalam Project history is an example of a compressed, yet highly successful, exploration timetable. Due to the thick inaccessible equatorial forest location, the first access was by helicopter in February 2007 at the Mbarga Deposit. Drilling commenced four months later in June 2007. A maiden JORC Code compliant æhigh-grade hematiteÆ inferred mineral resource (190 Mt at 60 per cent Fe) was defined in May 2008, followed by a maiden æitabirite hematiteÆ inferred resource in July 2008 (1.2 Bt at 37 per cent Fe). Subsequently, road access to Nabeba was established in January 2010, with a maiden high-grade hematite inferred mineral resource (200 Mt at 63 per cent Fe) identified only five months later in June 2010. A maiden itabirite hematite inferred resource at Nabeba was announced in June 2012 (1.4 Bt at 34 per cent Fe). The success of the exploration programs has been due to two main factors: Establishment of high-quality camps and facilities at Mbarga and later at Nabeba in Republic of Congo. Exploration support included satellite links for site servers and communications, field logging computers, data acquisition software, an on-site sample preparation laboratory, portable hand-held X-ray fluorescence (XRF) and company-owned drill rigs from 2009. An experienced and dynamic technical support group based in Perth to provide database facilities, data evaluation, internal auditing and software support, resulting in expedited resource estimation and economic evaluation with state-of-the-art mining software. In June 2012, Sundance Resources Ltd announced the current mineral resources for the project of 775.4 Mt at 57.2 per cent Fe of high-grade hematite and 4.047 Bt at 36.3 per cent Fe of itabirite hematite. In December 2012, high-grade hematite ore reserves of 436.3 Mt at 62.6 per cent Fe were announced. These world-class resources and reserves have been delineated and evaluated in a very rapid time frame. This would be considered extraordinary in any environment, let alone in the remote equatorial forest of central Africa.CITATION:Longley, R S, Kitto, P L and Thornett, S E, 2013. Exploration history of the Mbalam Iron Ore Project, in Proceedings Iron Ore 2013 , pp 107-116 (The Australasian Institute of Mining and Metallurgy: Melbourne)."

Aug 12, 2013

By A Penney, M J. Pascoe, R M. Stephenson

The empirical McCracken and Stacey stability and risk assessment method has been in use for more than 20 years to assess geotechnical stability issues for raise bored shafts. The methodology has been applied with various levels of success. Increasingly, trends in mining and civil tunnelling have been towards larger diameter, single pass, raise bored shafts to rapidly provide means of ventilation, material movement (ore passes), or emergency egress. Identifying and assessing potentially problematic zones before raise boring commences can allow for appropriate risk-based decisions on construction, or to investigate alternative solutions. The implementation of a proactive solution to raising through an identified weak zone is preferred to the application of an engineered solution to an area subjected to substantial instability or failure. Methods for investigating potentially problematic areas are discussed in this paper based on AMC’s benchmarking data. Proactive investigation programmes resulting from these investigations are also discussed. Previous publications discussing the benchmarking data have concentrated on Australian case studies. Increased efforts and recent updates have been made to expand the database to include international case studies. This has provided further refinement of lower bound ‘raise bore rock quality index’ (QR) values, and various rock mass parameters for stability assessments. CITATION:Penney, A, Stephenson, R M and Pascoe, M J, 2018. Raise bore stability and risk assessment empirical database update, in Proceedings The Fourth Australasian Ground Control in Mining Conference (AusRock), pp 434–445 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Nov 30, 2018

By G P. S Resende, D E. G Oliveira, E A. S Baeta, T F. Bravin

There is currently in the mining industry, as well as in other industries, a movement seeking to increase investments in decarbonisation processes to help combat global warming. Among some initiatives taken is replacing diesel-powered mobile equipment in the mines with electricity-powered equipment, such as electric off-highway trucks or even belt conveyors in the mining operation. Samarco is a Brazilian mining company that since its conception has used a conveyor belt mining system in its mining operation, using only a small number of trucks to complement the mining process. This mining process that combines conveyor belts and trucks has brought environmental gains for the company since the environmental impact of conventional truck-only mining is greater than that of the combined system. To measure these gains, a medium-term mining plan was developed in which two fleet scenarios were detailed. One scenario contemplated a high level of detail of belt mining seeking its maximisation, while the other considered the operation performed 100 per cent by trucks, eliminating the use of conveyor belts. Through the comparison of these two scenarios, it was possible to make an inventory of atmospheric emissions and greenhouse gases for each one of them considering data such as types of equipment, diesel consumption, total distance travelled and energy consumption. The results showed that the fleet scenario with conveyor belts results in periods with up to 15 per cent less greenhouse gas emissions and 37 per cent less total particulates compared with the truck-only scenario. Therefore, the results confirm the environmental benefits of the method and the need to look for ways to even expand it in future operations through a study to identify the potential areas in the long-term mining plan.

Sep 18, 2023

By J Ding, H J Peng, S B. Zhu, L Hou, J R. Zhang, S Y. Wu

"An EXTENDED ABSTRACT is available for download. A full-length paper was not prepared for this presentation. Numerous Fe-Cu-Au-rare earth element (REE) deposits have been identified within the Palaeoproterozoic Dongchuan Group of the Kangdian region of SW China. Geochronologic and geochemical data of the dolerite dykes and other volcanic rocks reveal extensional activity occurred about 1.7 Ga called ‘Kunyang Rifting’. The Kangdian region underwent variable degrees of extension, meaning that breakup in the central part of this region occurred earlier than in the north. Research on microphysiography, isotopic geochemistry and inclusions of the Yinachang typical Fe-Cu-Au-REE deposits suggest that the dominant mineralisation fluid is high-temperature, high-salinity magma fluid, containing alkalic components, volatile phase and Cu-Au. Metasomatism and mixing between this magmatic fluid and carbonaceous wall rock and meteoric water caused the precipitation of Fe, REEs and Cu-Au. A chalcopyrite Re-Os age from the Yinachang deposit obtained during this study is some 50–100 million years younger than the timing of emplacement of the deeply sourced Haizi and Dongchuan dolerites. The Yinachang deposit is a typical iron oxide-copper-gold (IOCG)-type deposit, and the presence of this and other deposits in the Kangdian region indicates that the region hosts an intraplate extension-related IOCG system within the western edge of the Yangtze Block, China.CITATION:Hou, L, Ding, J, Zhang, J R, Zhu, S B, Wu, S Y and Peng, H J, 2015. Proterozoic iron oxide-copper-gold mineralisation in the Kangdian Region, south-west Yangtze block, China – a case study on the Yinachang Fe-Cu-Au-rare earth element deposit , in Proceedings PACRIM 2015 Congress, pp 255–264 (The Australasian Institute of Mining and Metallurgy: Melbourne)."

Mar 18, 2015

By R Nicholson, N D. Cox, N W. A Lambert

"This paper reports on the long-term operation of a particle density meter (PDM) at the Bloomfield coal handling and preparation plant (CHPP). This unit has been operating continuously for over three years, providing real-time data to the operators to allow the monitoring of flotation circuit performance. PDM outputs include slurry density, solids concentration on both mass and volumetric basis, and particle density. Knowing the average particle density of a stream allows for the optimisation of the process in real-time.The calibration of the solids concentration measurement device proved very difficult as the factory calibration techniques and existing laboratory analysis did not give accurate or reliable results. The solids concentration device had to be re-engineered and a new calibration method developed that gave accurate and repeatable results. Independent verification of samples taken from the PDM was undertaken as part of the trial process.The operational reliability of the PDM was a major point of investigation. The initial installation of the unit revealed issues with large, misplaced material of up to 20 mm periodically entering the unit, leading to feed blockages. The presence of these misplaced, oversized particles in the flotation circuit was resolved by installing innovative automatic back flush systems on the PDM.From a plant perspective the PDM has been an invaluable instrument that has enabled irregularities in the flotation circuit performance to be identified, which sampling had not and could not readily identify. This was achieved by close monitoring of real-time tailings composition on a minute by minute basis over short and extended periods. Variations in the tailings stream with respect to particle density and solids concentration were traced back to other issues in the plant. In addition, the PDM has allowed cell optimisation with respect to reagent dose rate to be improved. The PDM with real-time feedback can negate the need for large sampling campaigns and analysis during plant optimisation programs.Citation:Lambert, N, Cox, N and Nicholson, R, 2016. Particle Density Meter, in Proceedings 13th AusIMM Mill Operators’ Conference 2016, pp 245–250 (The Australasian Institute of Mining and Metallurgy: Melbourne)."

Oct 10, 2016

By J Jeffrey, G W. Wilson, L Gilbert, C

Prior to the commencement of mining, the acid rock drainage (ARD) potential of the waste rock to be produced by an open cut mining operation is assessed by a variety of techniques carried out on drill-hole samples. These include, among others, acid base accounting (ABA), net acid generation (NAG) testing, and kinetic testing. Based on the results obtained, a strategy for the identification, separation and selective placement of waste rock having different potentials to form ARD is developed. During the course of mining, the waste rock classification scheme will be re-assessed periodically to confirm that it is appropriate. This re-evaluation may result in a change in classification scheme, and waste rock dump samples may be obtained for ARD assay purposes to confirm the appropriateness of the revised scheme. The paper describes the evolution over time of the scheme used to classify waste rock at a major open pit gold operation in New South Wales, Australia, including the development of a hydrological model. To confirm the appropriateness of the revised scheme, ARD assay testing was carried out on drill-hole samples collected from dumps having different ARD potential designations, including Non-Acid Forming (NAF), Potentially Acid Forming (PAF), and Low Grade Ore stockpiles. The results of the ARD assay testing and water quality monitoring confirmed the appropriateness of the ARD potential designations and the revised classification scheme, which has been adopted.

Jan 1, 2003

By S Davidge, J Pile, R Schumann, E Kepe, W Stewart, M Ridd, B Rathi

Geographical constraints, including steep terrain and high rainfall, at the Ok Tedi copper-gold mine in PNG’s Western Province present Ok Tedi Mining Limited (OTML) with significant challenges in mine waste management. Waste management includes discharge of tailings into the local river system and storage of waste rock from the mine pit in waste rock dumps which erode into the river system. Copper bearing skarn mineralisation is associated with a massive sulfide (mainly pyrite) deposit. Consequently, waste rock and tailings can contain significant amounts of pyrite. Without appropriate management, these waste streams represent a risk of producing acid and metalliferous drainage (AMD) when discharged to the river system. Throughout the life of the project, OTML have developed evolving strategies to manage mine wastes and mitigate AMD.

Aug 2, 2023

There was a time, in the memory of some here tonight, when the annual meeting of The Institute was a nostalgic occasion. Often, in the 1920s, there was comment on the decline of Australian mining and on the lack of new mineral discoveries. When some of our Presidents prayed then for a new Bendigo, and instead were given a Mount Isa, they were justifiably disappointed because of the vastly different capital requirements.In 1967 the mining picture is very different. The recent mining developments in Australia are certainly as important as several Bendigos and several Kalgoorlies. The mining industry in Australia has never been more dynamic than today (Table 1). And if we ask why it is so dynamic, the answer lies in the role which overseas capital is playing in the industry. The contribution of overseas capital should concern us not only because we are members of the mining and metallurgical profession, but also because we have a duty to make our profession contribute as much as possible to the well-being of Australians. It is not sufficient to argue that overseas capital is good for the mining industry; we must also examine whether it is good for the economy and the nation. In this context the current criticism of the inflow of overseas capital into Australian mining is useful, for it gives us an opportunity to see what has resulted from the inflow.In discussing this question I do not suggest that we emulate Captain Hancock, that legendary Moonta mine manager who, according to Oswald Pryor's cartoon, used to say to his miners: "When I say a thing is, it is, even if it isn't". The question can only be discussed on a factual basis; and I would submit that many of the important facts relating to overseas capital in our mining industry are often overlooked or ignored. I would further submit, on the basis of these facts, that Australia's present day mining industry has been largely built on overseas capital and that the overall benefits of that capital to Australia have been enormous.

Jan 1, 1967