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By R. Dippenaar

Traditionally, iron ore has been reduced with coke in a blast furnace and the hot-metal product of the blast furnace containing carbon, manganese, silicon, sulphur and phosphorous, was subsequently refined in a steelmaking furnace. During iron making as well as during steelmaking, significant amounts of slag are produced. Two decades ago, more than 13 m tonne of blast furnace slag and 4 m tonne of steelmaking slag per annum were produced in the USA alone. It is, therefore, not surprising that many attempts have been made to re-use iron and steelmaking slags. However, these slags are not merely metallurgical waste products but, on the contrary, their compositions and physical properties are judiciously designed to optimize the operations in the respective metallurgical reactors. The variation in composition and properties of blast furnaces lags are largely determined by the gangue in the ore and ash in the coke and much progress has been made in the re-use of such slag. With respect to steelmaking slag, emphasis has in recent years been placed on hot-metal treatment before refining and ladle treatment after decarburization. The bulk removal of silicon, phosphorous and sulphur from the hot-metal product of the blast furnace by specially designed slags prior to refining in a basic oxygen furnace, has reduced tap-to-tap time, lowered cost and produced steel of much higher quality. The use of synthetic slags in ladle refining techniques subsequent to decarburization in the basic oxygen furnace has resulted in reduced hydrogen and nitrogen contents and reduced solute impurities. Moreover, inclusion shape and composition control, again by the use of specially designed slags has led to the achievement of much improved mechanical properties of the steel. In these revised process routes, slag of different compositions are produced in the variety of unit processes and hence the re-use of steelmaking slags has become much more complex. Clearly, a thorough understanding of the design and use of these different slags is a pre-requisite to the development of re-use strategies. Japanese steelmakers have spearheaded attempts to reduce slag volumes in the individual unit processes and to strive towards ‘slagless steelmaking’ by recycling slags internally. Steelmaking slag volumes have been reduced on commercial scale from about 140 kg/tonne steel to 60kg/tonne steel. Moreover, model predictions have shown that, in principle, all slag can be recycled and the phosphorous extracted to produce fertilizer. This development is of particular significance since the supply of low-phosphorous iron ores is diminishing at an ever increasing rate. Keywords: slag, environment, iron, steel,

Jan 1, 2004

By J. N. Van der Merwe

The current state of the South African mining industry is briefly reviewed from the point of view of an engineer not schooled in the finer details of predictive economics. Based on the assumption that current world exploration targets are indicative of which commodities the world will want in the future, it is concluded that the South African mining industry will continue to be viable and growing well into the future. South Africa holds the minerals the world wants and needs, and as long as the world has people, the demand for those, including gold, will continue to grow. There still is a growing demand for vanity commodities' and even the demand for platinum as a jewellery material displays significant growth. Mine safety still needs to improve, but significant improvement has already been made although the industry is not always acknowledged for the effort in this field. The safety target set for 2013 is within reach but will require sustained effort. The physical mining conditions for the main revenue earners, coal, platinum, and gold, will change substantially in the near future. Research in mining has declined alarmingly and it is urgently necessary for that to be revitalized to generate the knowledge that will be required. In order to streamline the transfer of knowledge to the mining engineers of the future, research needs to be conducted with the full involvement of the universities. It will also be necessary for the universities to continually review curricula to incorporate the latest knowledge and to embark on a campaign of knowledge transfer to the older generation of mining engineers. The mining industry is well supported by the universities, who have done their duty with regard to societal transformation, and the universities are in turn supported by the industry through vehicles like the METE Industry is also strongly supported by a number of professional and vocational societies. The SAIMM will continue to play its vital role as the meeting point of the mining technical sciences, and will continue to disseminate knowledge via the journal, schools, and conferences. In the future, it will review its modus operandi to support the needs of growing membership in the remote branches. It will enter the research arena in an appropriate manner and give effect to the developing integration of mining and society. The most important threat to the future of the mining industry is the recurrent mention of nationalization. While interaction between the mining industry and political and economic development of South Africa has always been characteristic, the current debate is emotional more than rational, and engineers are not well equipped to participate. This matter needs to be finalized before it becomes a popular force that politicians cannot control.

Jan 1, 2011

By Y. I. Yang, Y. -B. Tang, D. -J. Ma

Chlorine-containing minerals are commonly present in coal. Associated minerals such as pyrite can undergo exothermic reactions. Consequently, it is of great significance to study the effect of inorganic chloride on the spontaneous combustion of coal. In this study, the effects of five inorganic chlorides (sodium chloride, magnesium chloride, potassium chloride, calcium chloride, and zinc chloride) on the spontaneous oxidation of coal were investigated. Analysis of the gaseous products of coal oxidization at low temperatures (323K to 453K) showed that the presence of inorganic chlorine in coal markedly decreases O2 consumption and the generation of CO and CO2. Samples of raw coal and chlorine-loaded coal were oxidized for 36 hours under the same experimental conditions. Infrared diffuse reflectance spectroscopy results showed that inorganic chloride can inhibit the oxidative decomposition of some functional structure components (methyl, methylene, methine, and hydroxy) in the coal. The influence of inorganic chloride on the oxidation characteristics of the functional groups in coal during spontaneous combustion was investigated using benzyl alcohol and 1-phenylpropanol as model compounds, which were tested under the same experimental conditions as the coal samples. The oxygen consumption of model compounds with and without the addition of inorganic chloride further suggested that inorganic chloride may hinder the oxygenolysis of these structures during low-temperature oxidation. This phenomenon can be attributed to the radical reaction from the perspective of radical chemistry. It can therefore be concluded that inorganic chlorides play an inhibitory role in the spontaneous combustion of coal.

Jan 1, 2015

By M. J. Little

Potgietersrust Platinums Ltd (PPRust) is Anglo Platinum?s only open pit operation. The major slope stability concern at PPRust is rapid, small-scale brittle failure on the west wall of Sandsloot open pit. In order to improve safety and mine more economically, a comprehensive slope monitoring strategy has been implemented. In the last 3 years four new state-of-the-art monitoring systems have been installed namely an ISSI microseismic monitoring system, a GeoMoS automated prism monitoring system, prismless Riegl laser scanners and a GroundProbe slope stability radar (SSR). Groundwater monitoring and visual monitoring have also been improved over the same time period. To complement the visual inspections, SiroVision digital photogrammetry is now used for predicting where future failures may occur. All these monitoring tools provide primary monitoring which is used to identify high risk areas. The SSR is then set up in that area to provide early warning of failure so evacuation can be successfully done. Fault tree analysis has proved that with this comprehensive slope monitoring strategy the geotechnical risk at PPRust is greatly reduced, allowing mining to continue safely and economically in challenging conditions.

Jan 1, 2006

By S. Ndlovu

To investigate the influence of orientation of crystal lattice on the bacterial leaching of pyrite crystals, single crystals of 100, 111 and110 plane orientations were used for the study. Experiments were carried out in the presence of a Thiobacillus ferrooxidans culture. The different corrosion patterns observed on the surfaces of the bioleached samples suggests a variation in cell-surface interaction from one crystal plane to the other. The surface corrosion patterns generally reflected the influence of the symmetrical arrangement of the atomic planes in the lattice on which they formed. The results indicate that the surface properties of mineral sulphides may control the evolution of corrosion patterns and consequently the initial oxidation process in acid bacterial leaching.

Jan 1, 2004

By S. O?Connor

When one looks back and does assessments of what has been the key ingredient in achieving success in our safety efforts, there are many issues that spring to mind and cover a wide array of elements. One does not know which has the ultimate maximum effect. In his presentation yesterday, Alan Peers, our SHEQ leader, covered a lot of detail with the way we are managing safety at Modikwa. I have attempted to identify some of the key essentials in making the mine safe. Passion Safety is addressed with a passion that is unbelievable at times. When I get phoned because an incident has occurred and in reporting the incident, there are already action plans being put in place to prevent re-occurrences, you understand the commitment to put employees? safety first. You hear the disappointment in your subordinates? voices when they have to share the fact that an incident or accident has occurred.

Jan 1, 2011

By A. V. Roschin, V. E. Roschin

Composite ores are more often used for production of iron in connection with reserve depletion of traditional ore crude in the regions with developed metallurgy. In particular, the majority of perspective ferrum-ore deposits of the Urals are presented by titanferous magnetite ores which contain a significant amount of titanium and vanadium alongside with ferrum. Thus, the deposits of titanferous magnetites of the Southern Urals on the average contain about 20 % of Fe, 8,7 % TiO2 and 0,24 % V2O5. Due to a high content of titanium oxides it is impossible or it is inexpedient to process such ores in blast furnaces. During work just on titanferous magnetite ore refractory titanium-containing slags are formed in a blast furnace, and in case of its dilution by ores of different types the titanium due to the small content in slag is thrown out. It is often impossible to separate such ores into ferriferous and titanferous concentrates because ferrum and titanium are present in the same minerals. This work attempts to selectively reduce ferrum in solid oxide and to separate metallic iron from titanferousslag with fast fusion. Solid-phase reduction of ferrum has been carried out with carbon at temperature of 1000? 1300°?. In products of solid-phase reduction the extremely disperse mix of metal iron and only partially reduced titanium oxides have been achieved. It is impossible to separate such a mix mechanically. However, the fast fusion of the mix allowed separating it into cast iron and slag with the high content of titanium. Thus the cast iron contained less than 0,1 % of titanium, and the slag did not contain practically any ferrum.

Jan 1, 2007

By V. Brabie, S. Jansson, L. Bohlin

The rate of dissolution of solid MgO-C and doloma into liquid in CaO-Al2O3-SiO2-MgO slag at different temperatures was studied under conditions of forced convection by rotating cylindrical refractory specimens in a stationary crucible containing the molten slag. The corrosion rate was calculated from the change in diameter of the cylindrical specimens. Refractory specimens were 13 mm in diameter and 70 mm long. The specimens were rotated for15 to 120 minutes at speeds of 100 to 400 rpm in the molten slag. The rate of corrosion increased with temperature and with the rotating speed of the rod, and decreased when the slag was nearly saturated with MgO. The experimental results confirm the assumption that the diffusion of magnesium oxide through the slag phase boundary layer controls the corrosion process. The corrosion mechanism seems to be the dissolution of the refractory materials into the slag, followed by penetration of pores and grain boundaries and dispersion of the grains in the slag. Keywords: MgO-C refractory, doloma refractory, molten slag, corrosion rate, corrosion mechanism

Jan 1, 2004

By E. V. Lilford

Equity investors and project sponsors have divergent views about expected or minimum returns that should be generated by a mineral project. Irrespective of their views, the fundamental estimation of the corporate cost of capital remains singularly determinable, with additive components of risk and uncertainty often incorporated in the final analysis. This paper discusses and details the fundamental, numerical determination of the corporate cost of capital.

Jan 1, 2006

By M. B. C. Brandt

Focal depths of 15 tectonic earthquakes and 9 mine-related events were determined for South Africa using data recorded by the South African National Seismograph Network. These earthquakes and events were relocated by means of the Hypocenter program using direct P-waves (Pg) , critically refracted P-waves (Pn) , and first-arrival S-waves for the magnitude range 3.6 ?? ML ?? 4.4. Focal depths were first determined by means of the minimum root mean square (RMS) of the differences between the measured travel times and those predicted using the velocity model. The depths for tectonic earthquakes had a 2 km ?? D ?? 10 km range and an average depth and standard deviation of 6.9 ± 2.3 km. Depths for minerelated events ranged over 0 km ?? D ?? 7 km, averaging 3 ± 2.3 km. Next, arrival times for the additional regional depth phases sPn , PmP, sPmP, and SmP were measured. Focal depths were re-determined for the relocated epicentres, with the minimum variance (i.e. spread) of the differences between the measured travel times and travel times predicted by means of the Wentzel, Kramer, Brillouin, and Jeffreys (WKBJ) method for synthetic waveform modelling. Depth ranges were 4 km ?? D ?? 7 km (average 5.9 ± 1.2 km) and 1 km ?? D ?? 4 km (average 2.4 ± 1.2 km) for tectonic and mine-related events, respectively. The derived depths were verified for one tectonic earthquake with synthetic-to-recorded-waveform fits using the WKBJ synthetic seismogram software for the abovementioned regional phases. The focal mechanism parameters for this earthquake source were obtained from the National Earthquake Information Centre. Focal depths were estimated for nine stations by visually comparing synthetic waveform phases with recorded waveforms, ranging from 5 km to 8 km.

Jan 1, 2014

By C. J. Pretorius

More than 30 percent of the global demand for zircon (ZrSi04) is supplied by South Africa. A significant amount of the zircon is exported, and beneficiated products are then imported for industrial applications locally. Beneficiating the zircon locally could have a positive impact on the local market, since zircon is only one of many such cases. Ammonium acid fluoride serves as an alternative anhydrous fluorinating agent for zircon in the synthesis of several metal fluorides1,2. It provides an effective dry fluorinating method and is easier to handle than hydrogen fluoride or fluorine gas. Zircon exposed to extreme plasma temperatures dissociates and becomes more reactive. The reaction of the plasma-dissociated zircon (Zr02.SiO2) with the ammonium acid fluoride (NH4F.XHF, where x= 1 to 5) forms two main intermediate compounds (NH4)3ZrFr(s) and (NH4) 2SiF6(s), the latter decomposing to form volatile products at relatively low temperatures, providing easy separation of the silicon and zirconium compounds. The ammonium zirconate compound decomposes to form zirconium tetrafluoride (ZrF4), which can be further manufactured into zirconium metal, to name but one product. Data on the kinetics of the reaction of ammonium acid fluoride with zircon and plasma-dissociated zircon, combined with the thermo¬dynamic parameters of the reaction, is essential for the development of an industrial process for the production of a precursor for the manufacturing of zirconium metal, namely anhydrous ZrF4. Both the reaction kinetics and reaction parameters will be included in this study, as well as some proof that the reaction proceeds to ZrF4 on a small batch scale. If the exact reaction parameters can be pinned down, a wide spectrum of anhydrous metal fluorides can be synthesized through this fluorination route.

Jan 1, 2012

By M. Hooman, W. M. Marx, R. C. W. Webber-Youngman

This paper discusses a study that investigated different underground bulk air heat exchanger (>100 m3/s) design criteria. A literature review found that no single document exists covering all design criteria for different heat exchangers, and therefore the need was identified to generate a guideline with decision analyser steps to arrive at a technical specification. The study investigated the factors influencing heat exchanger designs (spray chambers, towers, and indirect-contact heat exchangers) and the technical requirements for each. The decision analysers can be used to generate optimized, user-friendly fit-for-purpose designs for bulk air heat exchangers (air cooler and heat rejection). The study was tested against a constructed air cooler and heat rejection unit at a copper mine1. It was concluded that the decision analysers were used successfully. This tool (decision analysers) can be used by engineers for the efficient and cost-effectively design of heat exchangers.

Jan 1, 2015

By L. Holappa

Ferroalloys like FeCr and FeMn are mostly produced in submerged electric arc furnaces. Typical of these processes is that the amount of slag is quite high. The role of slag for the process is thus essential and specific chemical, physical and electrical properties are required. Slags in FeCr process are Al2O3-MgO-SiO2 based with minor contents of CaO and CrOx. Slags in the FeMn process are principally similar, originating from silicate minerals but can have quite large composition range depending on the manganese ore and its gangue minerals. Characteristic of the FeMn process is that the slag is rich in manganese oxide up to above 30%. A common feature is that the ?ore oxides?, CrOx and MnOx in slag are not only divalent oxides but also contain some higher valent of Cr3+and Mn3+, respectively. In FeMn production conditions the slag consists mainly of Mn2+. This is a clear difference from CrOx containing slags in which both two and three valent coexist in slags in FeCr process conditions. Oxidation state of the slag depends on the ambient oxygen partial pressure and temperature in the examined process. The thermodynamics of slags in ferroalloys, production are discussed in terms of phase diagrams, activities and oxidation state of chromium and manganese oxides. Further, slag properties influencing reduction kinetics and furnace operation i.e. viscosity and electrical resistivity are discussed. Keywords: review, slags, ferroalloys, ferrochromium, ferromanganese, thermodynamics, physical properties

Jan 1, 2004

By J. Gunaselvam

This article deals with an investigation into the specification and use of appropriate seating systems to reduce whole-body vibration (WBV) exposure in typical vehicles used in the SA mining industry. The EU Directive EU/44/2002 to be legislated in 2005 in European countries, provides legal and economic motivation for this project. The criteria for seat selection can be condensed to the requirements in the directive, which mandates an action level of 0.5 m/s2and a vibration exposure limit of 1.15 m/s2 for an equivalent 8-hour daily exposure period. As part of this study six suspension seats, which the manufacturers claim satisfy the requirements in ISO 70966, were tested to determine the most suitable seat for an articulated dump truck. Six test subjects, three ?light? and three ?heavy? as specified in ISO 70966, were used to estimate the seat transmissibility functions in the vertical direction of the six different suspension seats. Transmissibility functions were measured in the laboratory with two excitation levels of 1 m/s2 and 2 m/s2 r.m.s. in the 0.5?30 Hz frequency range, as well as one spectrum approximating the EM5 spectral class. SEAT values were calculated for road vibration data measured on a typical articulated dump truck. A set of seat selection guidelines that can be followed by vehicle manufacturers and suppliers, procurement officers and and the technical staff on a mine is proposed in this article. It is recommended that additional studies of the use and operating conditions of seating systems in the SA industry, as well as an epidemiological survey be commissioned to gather additional information on this subject. Nomenclature ADT Articulated dump truck DSTF Dynamic seat testing facility EM1 Frequency spectra associated with earth moving equipment (?articulated or rigid frame dumper?) according to ISO 7096 EU European Union ISO International Standards Organisation PSD Power spectral density r.m.s .Root mean square SEAT Seat effective amplitude transmissibility WBV Whole-body vibration

Jan 1, 2005

By M. Sanchez, C. Morales, J. Palacios

The slag produced in the Peirce Smith converters at the Ilo smelter of Southern Peru Copper Corporation has shown a wide range of magnetite content, which introduces an additional problem in the smelting units due to materials? recirculation. However, the operation data analysis and the application of thermodynamic concepts have made it possible to produce slag with magnetite content between 18 and 20%. The results have suggested that matte grade enhances magnetite formation while silica controls its precipitation, and they are also influenced by the increasing temperature of the slag. Thus, in order to obtain the required magnetite content in the slag, matte grade is gradually enriched in equilibrium with slag containing from 25 to 32% silica.

Jan 1, 2004

By J. Riss, S. Gentier, A. Marache

The study of the hydromechanical behaviour of fractured rock masses requires a detailed knowledge of the isolated fractures. The aim of the paper is the simulation of the evolution of the void space, located between both walls of a fracture, during a shear test under constant normal stress. Results of the mechanical simulation model are first validated then analyzed in detail. We observe that, during the shear process, there is an opening of the fracture with the creation of preferential channels. These channels are determined at the early phase of the shear process (pre-peak phase), and we observe during the post-peak phase that void areas increase in size rather than the creation of new apertures. Die Untersuchung des hydromechanischen Verhaltens eines zerlegten Felsmassivs erfordert genaue Kenntnisse der einzelnen Spalten. Ziel dieses Artikels ist die Simulation der Evolution des Hohlraumes zwischen den beiden Wänden eines Spaltes während eines Abscherungsexperimentes unter konstantem senkrechtem Druck. Die Ergebnisse der Modellierung werden zunächst mit dem Abscherungsexperiment verglichen und dann im Einzelnen ausführlich analysiert. Während des Abscherungsprozesses tritt eine Öffnung des Spaltes auf, die die Bildung von bevorzugten Fliesswegen fördert. Diese Kanäle werden bereits in einer frühen Phase des Abscherungsprozesses (pre-peak Phase) festgelegt. In der post-peak Phase tritt dann eher eine Vergrößerung dieser Kanäle, als die Bildung neuer Hohlräume auf. L’étude du comportement hydromécanique d’un massif rocheux fracturé ne peut se faire sans une connaissance approfondie des fractures le constituant. L’étude présentée dans cet article concerne la simulation de l’évolution de l’espace des vides présent entre les deux épontes d’une fracture au cours d’un essai de cisaillement à contrainte normale constante. Les résultats du modèle sont tout d’abord validés puis analysés en détail. On constate que, au cours du cisaillement, il apparaît une ouverture de la fracture permettant la création de chenaux préférentiels. Ces derniers sont déterminés très tôt dans le cisaillement (phase pré-pic), et on observe dans la phase post-pic davantage un accroissement de la taille des chenaux plutôt que la formation de nouvelles zones de vides.

Jan 1, 2003

By R. E. Wilmot

The problem of corrosion of reinforcement in concrete structures is internationally recognised and represents the single biggest expenditure in the preservation of steel reinforced concrete structures. While the corrosion protection of the reinforcing steel is no substitute for design and the placement of good quality concrete, it does provide for a viable and economical extension of structural integrity and service life in the day-to-day and practical environment in which concrete structures are constructed. The mechanism of corrosion attack and consequent deterioration of reinforced concrete structures is well understood and documented. New structures can be designed and built to withstand corrosion. However, due to short-term economical restraints, many new reinforced concrete structures continue to suffer as a result of corrosion damage, which results from the corrosion of the steel reinforcing. This paper explores the economic and practical benefits offered by the application of hot dip galvanizing as a viable means of protecting reinforcing steel concrete structures. The paper also discusses technical misconceptions that exist with respect to the application and performance provided by the use of hot dip galvanized reinforcing steel.

Jan 1, 2006

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. A. Angelov

This paper presents a unique method of monitoring the effectiveness of the planning process as well as the execution of mine plans. The method primarily determines the degree of deviation from the original mine plans by comparing actual mined areas to initially planned mining areas. The performance of mining operations is also measured by comparing actual and planned tonnages for a particular period. Once the degree of deviation from mine plans has been established the cause/s of the deviation can be determined through a simple fault tree analysis. Accurate identification of the reasons of deviation can aid the mine in selecting possible methods to correct the deviation. It is, however, beyond the scope of this paper to discuss the methods employed in correcting such deviations, as each mining operation will have unique causes of plan deviation and methods of remedying them. Deviations from the plan greatly affect the yields obtainable, which in turn affects the life of mine, thus having negative economic and financial implications. Accordingly, this paper presents a project management method which aims to reduce risk by improving planning systems to ensure optimum overall extraction of coal reserves.

Jan 1, 2010

By C. Hutton

"SynopsisThe last commodities supercycle (2003 to 2011) was characterized by a belief in volume at any cost, where absolute output was deliberately prioritized over productivity considerations. This practice fuelled overoptimistic forecasting and planning, which in turn contributed to the economic crisis that followed. The sudden collapse of commodity prices has resulted in mining companies scrambling to find the right balance between optimizing current operations and preserving sufficient flexibility to grasp future opportunities. The runaway costs of building and operating mines have almost squeezed out profit margins, while lower ore grades are inflating production costs. Mining companies therefore need to look at the business with fresh eyes, and develop strategies to attract equity capital as traditional approaches are simply not working anymore. This is especially so in the context of a dwindling investor base that continues to demand greater returns, despite a significantly lower appetite for risk. This paper revisits the micro-economic concepts and demonstrates how pressure from shareholders to prioritize output contributed to spiralling costs and value destruction. Practical techniques are described to model cost curves to optimize a Mineral Resource endowment and address the need to rightbalance a business and preserve agility.IntroductionHenry Lazenby (2014) for the Mining Weekly writes, ‘Bruised and battered, the global mining industry today is undergoing a sea change. Practices and policies that might have worked wonders in the past are not as relevant today, and new approaches to running profitable mining operations need to be found.’ One significant practice the mining industry had during the last commodities supercycle (2003 to 2011) was chasing volume at any cost; absolute output was deliberately prioritized over productivity considerations (Goldsmith, 2013). Lazenby contends that in the face of falling and volatile commodity prices, many mining majors ‘across all commodity groups are currently grappling with sagging profits and low company valuations. This is often regarded as the result of the were in pursuit of growing their output at all costs in a high commodity price environment.’ Lee Hodgkinson, KPMG’s Canadian mining industry leader and quoted by Lazenby, says that ‘mining companies are now trying to find the right balance between optimizing current operations and preserving their agility to grasp future opportunities. The runaway costs of building and operating mines have almost squeezed out profit margins [whilst] lower grades of ore are inflating production costs. Mining companies need to look at the business with fresh eyes, and develop strategies to attract equity capital as it seems clear that some of the traditional approaches to the mining business are simply not working anymore."

Jan 1, 2015