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By White A. H, Gillies A. D S

In recent years the Australian gold industry has gone through a major expansion phase. The need for finance has led to adoption of different approaches such as the well known gold loan, forward selling, equity participation by suppliers and equipment leasing. During early periods of the expansion, significant new equity was raised chiefly for high risk exploration ventures. The major form of new equity finance was ordinary shares, often in 'No Liability' companies. The increasing capital requirement of the huge new development projects of the 1980s also spurred the use of debt finance. This trend was accelerated as high inflation and the taxation advantages of debt finance made borrowing attractive. This paper reviews major financing techniques used by the Australian gold industry with particular emphasis on the innovative financing techniques initiated recently. An analysis has been undertaken of the effects on the industry of issues such gold loans, forward selling, equity participation by suppliers, fly-in fly-out operations, contractor mining and equipment leasing. In order to achieve a better understanding of the innovative financing techniques, a survey of already published financial data from well known Australian gold mines was carried out. Data was collected from various published financial reports of gold mining companies. In addition, a questionnaire survey was sent to gold mining companies to assist the collection of further information. The results of this study show that there are a significant number of gold mines variously using gold loans, forward sales, contractor mining and fly-in and fly-out arrangements to finance their projects. Only four operations have vendor suppliers investing capital funds in their projects. Based on the findings of this study, conclusions and recommendations are drawn that these approaches are likely to be with Australian gold industry for some time in the future and will continue to be intensively applied to finance gold projects.

Jan 1, 1994

The rocks of the Serranias Chilla massif of Bolivia are a suite of metamorphosed Palaeozoic basalts and associated continental sediments. Whole-rock trace element geochemistry of the basalts suggest a calc-alkaline affinity and indicate that subduction extended as far north as the Bolivian Altiplano during lower Palaeozoic time.

Jan 1, 1990

By Higuchi K

Intorducing the hypothesis that the cause ,òi spontaneous combustion of coal is depending un the accumulation of heat produced by its oxidation, the authors derived the equation expressing the temperature change in a heap i fine coal. To solve the equation, thermal conductivity, specific heat and rate of heat ,eneration of fine coal (-48 mesh) were measured at various temperatures in the range _'0-65¦C. The equation was solved numerically and the volume of fine coal which would ignite spontaneously was estimated as the function of ambient temperature. Using 170 Kg of fine coal, everal experiments for confirmation were conducted. At the ambient temperatures of 60¦C nd 50¦C, coal began to fire spontaneously brut 00 and 110 hours later respectively. Iii addition to this, the measured t,,rp,i,itures in the coal heap agreed with the ,aLulated ones comparatively well, If more volume of fine coal were used, experi;:ontul ;,eneration of spontaneous combustion from ...,n-, , 1-1 I'd Sill al r..

Jan 1, 1981

By Hart J. G, Anderson J. S

The presence of platinum metals in the nickeliferous copper ore of the Thomson River Copper Mine near Walhalla, Victoria, was first revealed in 1905 by assays made in the laboratory of the Department of Mines (1).These disclosed the presence in the ore of 5 dwt. platinum metals, 1 dwt. gold and 13 dwt. silver per ton. Attempts to isolate the platinum-bearing mineral were unsuccessful, and the absence of obvious native platinum led the assayer, Mr. P. G. W. Bayley, to suspect that the platinum might be present as sperrylite. Subsequently, Mr. C. M. Lyons, then metallurgist to the Long Tunnel Gold Mining Company, Walhalla, tried to isolate the platinum mineral from samples of ore containing as much as 7 dwt. platinum metals, but again without success.In 1912, a sample of copper matte from this ore was submitted to Messrs. Johnson, Matthey and Company, Limited of London, for analysis. The analysis, which is quoted below by their courtesy, revealed tnat a large proportion of the metal pi'eviously reported as platinum was palladium, there being about two parts of palladium in the matte to one part of platinum.

Jan 1, 1942

By Bowra N

Working capital is best described as money that must be supplied from a company's treasury to buy inventories for raw materials and finished products and to provide credit to customers who have not yet paid for delivered products. Working Capital requirements for resource projects are to a large extent, dependent on specific characteristics of the projects concerned. Important variables are the nature of the project and speed with which sales can be realised. The project's location is also important as this will influence inventory levels. Working capital requirements have a time profile, the present value of which can represent a significant portion of a projects overall capital needs. A significant component of a project's working capital is not readily recoverable or able to be reassigned should the project fail or be deferred.

Jan 1, 1986

By Roach C

Exploration on the Callide Coalfield by Thiess Bros. Pty. Limited had reached the stage in mid 1976 where there was a need for a comprehensive appraisal of the coalfield geology. Exploration strategy in 1977 - 1978 was defined by the selection of the most attractive targets. All available literature, reports and plans were reviewed and borehole records assessed. The geology of the coalfield was placed in its regional setting and the genesis of the Callide Coal Measures described in a structural and sedimentological context. Their general form and extent was then examined by the technique of stratigraphic analysis through the interpolation and extrapolation of the available data. A "localized" reserve classification was drawn up and reasonable estimates of the various geological reserves produced, in terms of their reliability and depth of overburden. Quality trend maps were also produced. The resultant "base map" was virtually a summation of all the information to June, 1977, and the basis for the exploration programme in the 1977 - 1978 financial year. The technique allowed for "base maps" to be produced at almost any stage, each one a refinement of its Predecessor.

Jan 1, 1978

Since the announcement of early experimental work on rotating magnetic field (RMF) separation at the Sixth Mill OperatorsÆ Conference in 1997, the concept of RMF separation has been developed and tested further, and a range of separator designs is now being developed for the mineral processing industry. Shortened, but full diameter, prototypes of these designs are now available for test separations. The main advantage of RMF low and medium intensity attraction separation is the significant reduction in particle entrapment. This reduction is so significant that RMF separators are capable of operating very close to their theoretical limit for separator precision. This makes small laboratory RMF attraction separators ideal for low to medium intensity magnetic sample analysis, and larger separators ideal for applications requiring sharp magnetic susceptibility splits. Feedrates and separation rates are comparable to those of conventional attraction separators. Although RMF attraction separators are now well advanced in development, RMF rotation separation is still in the early experimental stage. The exception to this is the dry particle rotation eddy current separator that offers eddy current separation of small non-ferrous metallic particles from about 2 mm down to about 100 microns. Wet small particle eddy current separation is also possible, but has not yet been developed to a practical stage.

Jan 1, 2000

By S Cyphers, J Missen, B Jansen

The AGL Loy Yang Mine is one of the largest and most significant coalmines in Australia. Commencing in 1982, this mine produces 30–35 Mt/a to supply more than 50 per cent of Victoria’s electrical power requirements. At this mine there are unique geotechnical challenges to overcome to ensure its safe operation including: significant mine depth, low density of coal in the operating and permanent mine batters, the influence of groundwater and deep sediment aquifer pressures. One of the challenges is the behaviour of brown coal, which is neither a soil nor a rock and displays long-term creep stress relief. Other geotechnical challenges include ensuring stability in high unconsolidated dumps, potential large-scale block movement in mine batters driven by crack water pressure and heave from high-pressure aquifers.The paper will outline the geological and hydrogeological setting and potential failure mechanisms, and detail an integrated geographic information system and reporting regime that in part addresses ground control management at the mine. The paper will also outline the management processes for a dynamic geotechnical environment and the benefits of the alliance arrangements to meet the geotechnical requirements at the mine and the effective personnel integration in the mine technical services team.CITATION:Jansen, B, Missen, J and Cyphers, S, 2014. Geotechnical management at the AGL Loy Yang Mine, in Proceedings AusRock 2014: Third Australasian Ground Control in Mining Conference , pp 239–246 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Nov 5, 2014

By M Ewart

The securing of a reliable water supply for a prospective mine in the North West Queensland Mineral Province is usually one of the most influential factors in determining the mine's feasibility. The Ernest Henry Mine required a reliable water supply to serve a demand estimated at feasibility stage to be up to 20 ML/day. Numerous options were considered before a decision was made to construct a 113 km long pipeline from Lake Julius as this was the most cost effective, reliable source of supply. The North West Queensland Water Pipeline is a multi-user, Queensland government funded project initially supplying up to 7000 ML/year of water from Lake Julius to Ernest Henry Mine, with provision made for expansion to serve future users in the region. This paper discusses the history of the pipelineÆs development, together with a summary of the scheme's design features. Environmental and licensing requirements, construction and operational issues are also discussed.

Jan 1, 1998

By G McCullough, J Bassan, d P. Knights, C T. Farrelly

By 2045, carbon-neutral mines will be economically producing products that are vital for the world’s transition to renewable energy. After overcoming significant technical challenges (and the investment of significant capital), leaders have successfully eliminated the use of diesel and other fossil fuels by introducing a wide range of new decarbonisation technologies. These leaders will be reaping the benefits of lower production costs (resulting from elimination of diesel), stable and predictable operations, and easier access to capital for their future projects. This paper describes a future scenario of how a net zero carbon and zero-entry mine could operate by taking maximum advantage of technologies in development or already proven in other industries. Some miners have been unsuccessful in their efforts to reach decarbonisation targets. Instead, they have been forced to close or offload their assets to be acquired by operators with better sustainability credentials, or, in some cases, to indigenous or community-based enterprises with vested interest in making operations viable and sustainable. Regardless of ownership structure, all successful mining operations will have fostered strong and positive community relations that bring education, health, security and economic development opportunities to the communities while respecting their traditions, land-uses and culture. As shallow, easy to mine deposits have become scarce, the majority of new mines are underground. Advancements in electric underground technology and the feasibility of ‘zero entry mining’ (with no personnel in active mining zones) has made it increasingly possible to economically operate underground mines, even at shallow depths. The newest mines have a near zero footprint on the surface, produce no harmful by-products, and are employing in-place or in situ methods of extraction that are efficient and low impact. Surface land-uses, such as agriculture and renewable energy generation, continue in the immediate vicinity of the mine, with no significant ground disturbance, community impact or environmental footprint.

Sep 1, 2024

By R Redden

"The Didipio Gold-Copper project in the Philippines has been a well-defined reasonably high gold grade porphyry for almost two decades. OceanaGold are now bringing the project into production in late 2012 and have recently reoptimised the project with the goal of combining the inherent high grades with higher through-put than previously proposed that will see strong initial metal production. The project was discovered and well defined by 1995, but has seen some obstacles to development, namely sovereign risk, capital cost and project funding. The project strengths over this time that have kept the flames alive are: strong grades large orebody with low stripping ratios a simple beneficiation process and a clean high-grade concentrate strong support from the Philippines government.The initial study in 1998 used Gold and Copper price assumptions of $325/oz and $0.95 lb respectively. Today reserves are based on $950 and $2.85. So, being a porphyry with a large reducing grade halo, the deposit now lends itself to extraction on a much larger scale than before, without any significant capital expenditure as a larger open pit now dominates the project.Didipio is a game changer for OceanaGold, so it has been important to learn from history and to capitalise on a strong initial metal production profile. The project sits in a reasonably remote mountainous area of Luzon which sees annual typhoons and numerous short duration high intensity rainfall events and two rivers flowing through the project area, so it has not been without some innovative technical solutions.CITATION:Redden, R, 2012. Didipio - Learning the lessons, adapting and getting ready for production, in Proceedings Project Evaluation 2012, pp 67-76 (The Australasian Institute of Mining and Metallurgy: Melbourne)."

May 24, 2012

On the 17th November, 1964, a new No., 2 lead blast furnace was blown in at Port Pirie. The furnace departed from previous designs by incorporating a centrally located continuous tapper for both lead bullion and slag. The use of a central tapper permitted a simple and effective layout for the handling of both products. Considerable development was necessary to bring the furnace to its present level of efficiency. Units vital to the continu- ous operation were developed to allow quick replacement, thus ensuring high time efficiency under varied operating and maintenance conditions. The furnace was designed with the following objectives in mind, 1. increased crucible life, 2. elimination of oxygen for slag tapping, 3. higher temperature slag for fuming operations-, 4. less operator skill needed, 5. reduced tapping tool consumption, 6. elimination of settler skull and scrap lead, 7. better control of blast air distributi.nn. And

Jan 1, 1975

By A M. Mueller

St Helena tunnel is the centrepiece of the Pacific Highway upgrade from Tintenbar to Ewingsdale, abbreviated and commonly known as T2E. At the deepest point the twin tunnels run 45 m below the ridge line of St Helena Hill, located about 5 km west of Byron Bay. The tunnel breakthrough was achieved early in 2014 and the works for permanent lining will be completed in early 2015.Once the project will be handed over to the public in 2015, T2E will deliver a safer highway and uninterrupted traffic flow between New South Wales and Queensland. The design speed in the project area has been set to 110 km/h by the client Roads and Maritime Services (RMS), which will reduce the travel times between Brisbane and Ballina to just over two hours.The two tubes of the tunnel have been designed to accommodate three lanes in each direction with shoulders and walkways on either side of the carriageway. These requirements result in a huge cross-section of about 20 m width and an excavated area of about 210 m2.With the tunnel alignment being situated in basaltic rock, St Helena tunnel is conventionally driven. The selected excavation method was predominantly drill-and-blast with temporary support being installed immediately after the excavation. Despite the wide span of the tunnel, the geology allowed the tunnel perimeter to be supported by only rock bolts and a layer of shotcrete over the majority of its length.Due to environmental reasons one of the approval criteria of the project was that the tunnel must not have a detrimental long-term impact on the groundwater system within St Helena Hill. Consequently the tunnel has been designed as a fully tanked structure with a waterproofing sheet membrane installed on the temporary shotcrete.The permanent structure of the tunnel has to meet a 100-year design life and it is designed as a cast in situ concrete lining. Considering the water pressure on the lining the concrete is reinforced with a significant amount of bar reinforcement.The presented paper provides a more detailed explanation of the geology and the consequential temporary and permanent support measures together with the waterproofing system.CITATION:Mueller, A M, 2014. Pacific Highway upgrade from Tintenbar to Ewingsdale (T2E), St Helena Tunnel, in Proceedings 15th Australasian Tunnelling Conference 2014 , pp 419–424 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Sep 17, 2014

By J Zeni

In 2001, the Springvale Coal Mine determined a requirement for a 360 m deep vertical airway to ventilate ongoing underground longwall mining operations. The project, referred to as the Springvale No 3 Ventilation Shaft, was completed in 2003 - 2004 by blind boring a 4.25 m diameter hole from the surface to the coal seam at 360 m depth. The shaft was completed with a 3.5 m inside diameter lining made from a continuous watertight steel and concrete composite pipe. Presented from both the clientÆs and the contractorÆs perspective, the following paper describes the process of constructing a blind bored ventilation shaft for this application. Beginning with the clientÆs definition of the requirements and specifications for the shaft, the paper describes the steps followed by Springvale Coal prior to awarding the contract. Springv aleÆs process involved a thorough site investigation including procurement of geotechnical data for prospective contractors and the management of issues relating to safety, quality and the environment. The clientÆs view is followed by a description of the planning and works performed by their nominated shaft drilling contractor, Ardent Underground Pty Ltd.The contractorÆs description of the works includes the details of the blind shaft drilling and lining construction process used for this application. The design of the shaft lining installed at Springvale Coal was the first of its type to be used in Australia. The successful installation of a watertight composite shaft lining and the safety of the method, which did not require any personnel to enter the shaft or the mine, were among the positive outcomes from the project.

Jan 1, 2005

By Heath E, van Calsteren P, Turner S, McDermott F

U-Th isotope studies of recent volcanic rocks may be used to evaluate the depths and rates of melt generation beneath mid- ocean ridges and ocean islands. Island arc rocks exhibit a similar range in Th isotopes to that seen in both MORB and OIB, but while those with high (230Th/232Th) tend to have excess 238U, many of those with low (230Th/232Th) are in isotope equilibrium. The excess 238U is attributed to the preferential mobilisation of U in hydrous fluids from the subducted slab within the last 100,000 years, whereas the low Th isotope ratios in the higher-K arcs are primarily due to the introduction of subducted sediment. Preliminary results from mineral separates from lavas on Soufriere on the island of St. Vincent indicate that some of the minerals crystallised up to 50,000 years prior to eruption.

Jan 1, 1995

By Dunn J, Nguyen G, Graham J

A pyritic gold concentrate from the Golden Mile, Kalgoorlie, was roasted over a range of temperatures in a pilot scale fluid bed reactor. The calcines were subsequently cyanide leached. Mineralogical studies of the con- centrate, calcines and leached residues were also undertaken. Calcines produced at 500'C gave the poorest gold extractions and high cyanide consumptions. Gold recoveries of approximately 90 per cent were obtained from calcines produced at 550-600'C but higher roasting tempera- tures resulted in an increase in the residual gold content of the leached calcine. There is some evidence of flash smelting of the pyrite at the higher roasting temperatures and encapsulation of gold particles. Mineralogical examination of the calcines shows that the mechanism of oxidation is temperature dependent. At 500'C pyrite is directly oxidized to hematite with a concentric layered texture which appears to inhibit lixiviant access to enclosed gold particles. At higher temperatures the conversion sequence pyrite-pyrrhotite-hematite produces a spongy calcine which al- lows easier penetration by the leaching medium.

Jan 1, 1991

By Terrill JE, Fergusson LJ

In the last decade of precious metal exploration, several important gold discoveries have conclusively demonstrated that epithermal gold deposits formed in what were once active geothermal areas. A significant deposit in this category is the Lihir Island discovery in the Tabar-Ferri volcanic island arc off the coast of New Ireland, Papua New Guinea. Within that arc are the Feni Islands where exploration by Esso PNG Inc. and City Resources Ltd. has been carried out since early 1984. On Ambitle Island in the Feni Group, an epithermal gold prospect located within a young caldera has been tested by diamond drilling. The drillholes intersected a boiling zone at depth beneath acid altered 'cap' rocks. The zone is 30-60 metres thick and comprises hydraulically fractured and mineralised lavas with gold grades of 1-7 g/t. The prospect is still an active geothermal area with current boiling in the zone tested. As on Lihir, the recent epithermal alteration and mineralisation overprints a relict prophyry system. On Ambitle and the adjacent Babase Island several other, cooler exciting gold prospects are currently being tested.

Jan 1, 1987

By Letz H

An investigation of earthquake hazard in Papua New Guinea (PNG) by a yearly extreme magnitude method using the magnitude 7 earthquake record since 1900 shows that the Bougain-ville Island seismic zone is by far the most active, followed by the New Britain and northern mainland PNG regions. Return period for magnitude 7.0 earthquakes occurring in normalized 10,000km2 areas of the Bougainville Island, New Britain, Huon, West Bismarck, North Sepik and Ramu seismic zones is 37, 60, 81, 88, 125 and 125 years respectively. These areas are much more active than the California Seismic Zone 4 region including the San Andreas Fault, which has a normalized magnitude 7.0 return period of 299 years, calcul-ated here by the same method.Only southern PNG, including the Papuan Fold Belt and most of the Bismarck Sea, are less active than California Zone 4. The Papuan Fold Belt is only marginally less active than California Zone 4, but more active than the State of California taken as a whole.

Jan 1, 1994

By Townsend IJ

The Upper Triassic Leigh Creek Coal Measures which include a number of seams of sub-bituminous black coal are preserved in four small intramontane basins. The largest is Telford Basin, 1,000 m in thickness. The coals, of variable thickness and quality, are mined by open cast mining methods and utilised for generation of electricity at Port Augusta. The combined proven and indicated reserves are about 100 million tonnes.

Jan 1, 1975

By Beech-Jones J. M

At Port Latta in Tasmania, Savage River Mines operates vertical shaft furnaces for the firing of pelletised magnetite concentrates. At times the temperature profile of the furnace has changed markedly, necessitating the- burning of greater quantities of fuel to maintain good pellet quality. A study of the oxidati=of magnetite concentrates was under- taken because this exothermic process supplies much of the heat required to indurate the pellets. Using the thermal analyses methods, different magnetite concentrates from Australian and overseas were heated in air under identical conditions, to compare rates of oxygen uptake and of heat release. In addition, a compari- son was made of the oxidation behaviour of different particle size fractions of a selected concentrate. Particle size analyses, x-ray diffraction and dilatometer tests were used to aid inter pretation of the thermal analysis traces. The investigation emphasized the importance of particle size and ferrous iron content in determining' oxidation rates from the commencement of heating.

Jan 1, 1974