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Portfolio management tends to separate the functions of Asset Allocation and Stock Selection, so the person responsible for reviewing an expert's report on a company would typically be choosing between companies rather than between a company and cash or bonds. How these choices are made depends on the investment time horizon, philosophy and style. Two styles, momentum investing and value investing are contrasted and the role of valuation methods within the framework of each style is evaluated. Finally, pricing is distinguished from valuation.

Jan 1, 1994

By McCarthy PL

Widespread interest in reopening Victorian gold mines, regenerated by increased gold prices, has highlighted the technical problems prevailing. A combination of historical lease legislation, minimal recent mining activity, forms of mineralisation, high insurance rates and tortuous approval requirements for mining mean the potential investor assessing an old mine must address a wide range of technical problems. The requirements for establishment of ore reserves and attraction of capital for mine development are fundamental. Underground reef mining was historically generally on a small scale, and as mining on many fields ceased about the turn of the century, past geological and production records cannot be correlated to personal experience and comment. The impact of modern mining technology on future reef mining will be to reduce operating costs and significantly improve historic metallurgical recovery. Roth these are commensurate with increased capital costs. Workers compensation rates currently applicable in Victoria are many times higher than in other states, adding significantly to operating costs. Establishment of a pilot plant testing facility in central Victoria would provide an invaluable service in treating bulk samples essential for grade and recovery assessments of Victorian ores.

Jan 1, 1982

By Ritchie IC

Spiral separators have been used to treat heavy mineral sands in Australia for some thirty-five years. They were used as the primary treatment method until the advent of the Reichert cone, which largely replaced them, due to its compact design and relative ease of operation. Spirals continued-to be used as the final cleaning stage before dry separation of the heavy minerals as they remained the most efficient separator for this purpose.

Jan 1, 1986

By J Andrina, D Richar, R Smart, A Neale

The Grasberg is a large copper and gold open pit mine operated by PT Freeport Indonesia and located in the high equatorial mountains of Papua Province, Indonesia. The climate is alpine/sub-alpine with little seasonal variation in temperature and rainfall. The annual precipitation varies from about 3000 to 5000 mm over short distances around the Grasberg, but in general, an average daily precipitation of 10 mm per day applies and leaching of the overburden is continuous throughout the year. Mining commenced in 1988, and almost all of the overburden mined up to 2003 was potentially acid forming. From 2003 to the end of the Grasberg pit operation in 2014, approximately 70 per cent of the overburden will be potentially acid forming and 30 per cent limestone. A major focus of the investigations is developing strategies to maximise the beneficial use of the limestone that will be mined. Laboratory columns and field test pad investigations have been ongoing for six years examining limestone blends. Trial dumps utilising truck placement and conveyor/stacker placement and blending of limestone and acid generating rock have recently been constructed. In addition, based on initial results, investigations aimed at further evaluating the performance of limestone covers in this high rainfall environment have commenced. A significant finding has been the identification of strong armouring layers on sulfide surfaces within well-blended material and under limestone covers. These layers effectively isolate sulfides and thus progressively slow the oxidation rate to a level where the alkalinity load from the limestone exceeds the rate of acid generating. ARD is controlled and neutral low metal drainage results. The results have demonstrated that although limestone blending is effective, it is necessary to ensure that all size fractions within the blend receive adequate acid neutralising capacity to buffer the potential acidity. Because the sulfur content generally increases and the acid neutralising capacity decreases with decreasing particle size in limestone blends, the amount of limestone required greatly exceeds the stoichiometric requirement. This paper describes the development of limestone blending specifications for potentially acid forming overburden and presents the results of the ongoing limestone cover trials at the Grasberg mine.

Jan 1, 2003

By J Channell, G Phillips

"The Chesney deposit, located 4 km south-east of Cobar consists of three copper-gold rich shoots that lie within a larger, copper dominant lode. A fourth gold rich shoot is located adjacent to the main deposit. The deposit exhibits a strong structural control on mineralisation, as brittle deformation during subvertical extension provided the requisite structural traps to precipitate sulfides from solution. It is postulated that the Great Chesney Fault acted as a fluid conduit, conveying fluids to the site of orebody formation. The continual supply of fluids resulted in cyclic brittle deformation when the fluid pressure exceeded the lithostatic pressure and the tensile strength of the Great Cobar Slate.Evidence supports the hypothesis that ore deposit formation was controlled by: a supply of mineralised fluids transported along the Great Chesney Faulta suitable location for the mineralised fluids to accumulate, accommodated by vertical extension and dilation in certain locationsthe creation of suitable structural traps to capture the sulfides. These traps formed as a result of fault-valve behaviour. Understanding the controls on mineralisation enables prediction of the location of other deposits with similar emplacement history, or extensions of current deposits.CITATION:Channell, J and Phillips, G, 2014. Understanding mineralisation controls – a case study of the Chesney deposit, in Proceedings Ninth International Mining Geology Conference 2014 , pp 301–312 (The Australasian Institute of Mining and Metallurgy: Melbourne)."

Aug 18, 2014

By D Espinoza, I Rees, J Pocoe, P Collier

P Collier, I Rees, J Pocoe and D Espinoza

Mar 22, 2022

By J J. Eksteen

"In the platinum group metals (PGM) industry, smelters are often perceived as ‘black boxes’ that have to process concentrates of variable mineralogy and originating from multiple mines operating along strike or downdip from each other in the same geographical region, as is the case in the Western Bushveld of South Africa. However, PGM smelter complexes are much more sensitive to concentrate blend variation than most metallurgists or geologists would anticipate.This paper will review the impact of concentrate blends deriving from a number of concentrators processing ores from the Bushveld Igneous Complex (BIC) on smelting and converting behaviour and the constraints they impose upon smelter operation. Significant variation in behaviour is not only noted between the main mineralisation types, namely the Merensky and Upper Group 2 (UG2) reefs, but also within a given reef type. Due to the way PGMs are mineralised and finely disseminated, concentrators have to grind concentrates ultra-fine to liberate the PGMs and provide a sufficiently high-grade concentrate for smelting.The chemistry and mineralogy of the concentrates vary with the type of mine (open pit versus underground), the reef type and varies along strike; this variation impacts numerous key smelter parameters such as the base metals content, the matte fall, the converter aisle capacity, sulfur dioxide gas production, furnace matte and slag temperatures, and the accumulation of high smelting chromite-spinel minerals that has led to significant smelter upset conditions such as catastrophic furnace hearth and sidewall failures.Due to the production intensity of smelting, ie its high rate of processing per unit volume, smelters have been found to be far more sensitive to rapid variation in concentrate properties, highlighting the need for adequate blend control.CITATION:Eksteen, J J, 2016. Impact of Mineralogical Variation on the Smelting of Cu-Ni-PGM Concentrates, in Proceedings The Third AusIMM International Geometallurgy Conference (GeoMet) 2016, pp 321–326 (The Australasian Institute of Mining and Metallurgy: Melbourne)."

Jun 15, 2016

By Adeloju S, McQuade CV, Riley SJ

Metal contamination of sediments can be an issue for minesites discharging water. Water sampling of receiving waters is frequently undertaken. Sampling and analysis of sediment is less common. The variability of receiving environments makes the formulation of a generic sediment sampling strategy virtually impossible. Each situation needs to be carefully assessed before sampling is undertaken. This paper outlines the approach taken for one such survey.The main factors that need to be considered in a survey of surficial sediments are sample representativeness and sample variability. A simple data set from one site within a regional survey is used to illustrate the importance of these factors. The metal content of sediment is shown to vary significantly over small spatial scales.The variability associated with the spatial distribution of samples within a site is shown to be the most significant source of variability in the study. This variability could bias the results of a study if not planned for in the sampling methodology. Taking multiple samples from within each site (sub-site samples) and combining the data gives a more representative indicator of overall conditions than a single sample. The optimum number of sub-site samples to be taken from each sampling site was found to be 15.It is shown that a composite of sub-site samples can give a good indication of the average site metal content, while considerably reducing the sample preparation and analysis effort.

Jan 1, 1998

By McAuley T. J

Computer software is an integral part of mining operations today with many sites using six or more software packages on a daily basis. However, the use of these different programs generates the need for substantial staff training. The current trend toward large integrated packages to solve this problem is counter-productive because the relatively small companies producing specialised mining software do not have the resources to develop quality software with all the required features. Software standards are being proposed by various parties but recent history indicates these will be unsuccessful. An alternative approach is suggested using the various standards which have been developed for the Windows operating system.

Jan 1, 1995

The Black Star lead and zinc ore-bodies, situated in the western zone of mineralisation at Mount Isa occupy an area 2000 ft. long with varying widths from 100 ft. to 300 ft. The strike is N5°W, and the average dip 60° West.To test at depth the potentialities of this area, an extensive diamond drilling campaign was commenced on 16th October 1927. It was continued, with from one to six machines working, until the end of 1931. During this period, 26 inclined holes, with an average depth of 1224 ft, and a total footage of 31,828 ft. were completed. A vertical hole, 2452 ft. deep, for comparative purposes, has been omitted.These drilling operations came directly under the charge of G J Gray, General Superintendent of Mount Isa Mines, and, in the early stages were supervised by E. D. McDermott, of the Mining Trust, London. The foremen, who were in charge of various sections of the drilling operations, were: H Vale, F Bray, J Winston and A A Sanstedt.

Jan 1, 1932

Wheal Gawler was Australia's first metal mine. This leader was followed by an army of other metalliferous underground mines and surface operations in Australia. As a mine it was not highly significant economically because its small total production of nearly pure galena had low multiplier effects on the economy of South Aus- tralia. Its importance lay in its symbolism: here was a silver-lead mine close to the new town of Adelaide posing the question of what other min- erals lay in the Mount Lofty ranges and in the fields beyond.

Jan 1, 1987

By Bhattacharyya AK

A two-dimensional finite element modelling technique is applied to predict the subsidence movements on a sloping ground surface above a completely mined panel. The modelling is carried out for the surface both directly and using a combination of an equivalent horizontal surface and a rays projection method and the result compared. The rays projection method provides the subsidence components on a sloping surface from the corresponding ones on an assumed equivalent horizontal surface through the point of mean elevation of the relevant part of the sloping surface. This method is used next to compare the subsidences, horizontal displacements and horizontal strains from the mining of a given panel at the surface for different inclinations. The results show that the magnitudes of the subsidence components are greater on the dip side of the slope from the point of the mean elevation, than the corresponding ones on the rise side and the asymmetry increases with the inclination of the surface. The findings are also compared with those of other research Workers.

Jan 1, 1992

In-situ leaching of gold deposits has not become an option largely as a result the lack of suitability of cyanide as a lixiviant due to sluggish kinetics and high dependence on the availability of oxygen. A second problem area is the excessive cost of drilling the required number of injection and production wells needed to service a wellfield capable of maintaining any significant throughput or providing and acceptable level of gold production. Well spacing in in-situ leaching operations is limited by solution life, dissolution rate, and the need for solution control. With cyanide the life of an active solution capable of dissolving significant gold is severely limited by the availability of oxygen which cannot be readily replaced while the solution remains underground. The extremely slow gold dissolution rate also necessitates excessive contact periods in order to dissolve coarse gold.

Jan 1, 1991

The Loy Yang Overburden System initially consists of a 60 000 tonne/day Bucket Wheel Excavator (BWE) (No. 14), a 2 m wide Conveyor System and a Travelling Stacker (No. TS4). The paper discusses details of the plant and the influence the soft clay overburden has on the design of the plant, to handle the dif- ficult Latrobe Valley overburden.

Jan 1, 1982

By D R. Seaman, Y Peng, F Burns, D J. Bradshaw

Telfer Gold Mine is a gold-copper mine in the eastern Pilbara of Western Australia, owned and operated by Newcrest Mining Limited. TelferÆs ores are processed by a dual train, 21 Mt/a, concentrator where gold is primarily recovered by gravity concentration and the flotation of a gold-bearing copper concentrate. A minor portion of TelferÆs gold is also recovered to a pyrite concentrate that undergoes treatment via carbon-in-leach (CIL) cyanidation. The gold recovery of the CIL circuit is below the industry standard and operates with a high reagent consumption rate.With a new fine-grinding facility, the Telfer process plant will have the ability to liberate copper and gold from the pyrite concentrate and recover these by flotation prior to the existing leaching circuit. This process will improve overall gold and copper extraction, while reducing reagent consumption in the CIL circuit.This article is an overview of the development of this methodology. Size-by-size analysis and mineralogical studies of monthly composites identified factors limiting the CIL gold recovery and the causes of high reagent consumption. Laboratory studies confirmed a relationship between the regrind product size and gold leach recovery. The addition of an intermediate flotation stage ensured that the regrind circuit will improve overall recovery while at the same time reducing operating costs. Without the addition of a flotation stage, the additional reagent consumption from regrinding alone would be prohibitive towards increasing recovery. Pilot scale studies confirmed the conditions required to selectively recover gold and copper from the pyrite concentrate as well as establishing the full scale regrinding energy requirements. Construction of this facility at Telfer is currently underway.CITATION:Burns, F, Seaman, D R, Peng, Y and Bradshaw, D J, 2012. Development of a pyrite regrind circuit at Telfer Gold Mine, in Proceedings 11th AusIMM Mill OperatorsÆ Conference, pp 45-52 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Oct 29, 2012

By Brathwaite RL

The gold-scheelite-quartz lodes of the Wakamarina valley were the most productive of the mesothermal gold-bear in the Marlborough Schist. Most of the production came from the Empire City and Golden Bar mines which worked tug, Golden Bar lode. Only 134 m of its 1800 m strike length are accessible, in the No. 2 level of the Golden Bar Mine. A fau I has downthrown the Golden Bar Mine section by 2 47 m and displaced it left-laterally by 18 m. The lode is a typical ribbon-banded mesothermal vein, averaging c. 1.75 m wide, and enclosing narrow horses of schist country rock. It i composed of bands of milky "buck" quartz with thin laminae of schist. Scheelite occurs in short strings of grains withi quartz on the footwall side of the lode and also in small quartz-carbonate veinlets in the foot wall and hanging wall schist The lode quartz contains only localised traces of pyrite and arsenopyrite. They are more abundant in the wall-rock schist.

Jan 1, 1995

By Singh RN

Monolithic packing systems have gained in popularity as a gate side packing method. However, there has been no detailed investigation to assess their underground strength behaviour. This work includes the laboratory and in situ investigation for strength behaviour determined on various monolithic packing materials namely Tekpak-XX, Hydropak-20, Hydropak-30, Astrapak-3R, Flashpak, Thyssen pack and Aquablends. A simple technique for assessing the pack strength was developed at the laboratory by using a penetrometer, of which penetration resistance can be directly correlated with the uniaxial strength of the pack. The in situ strength investigations were made on core samples obtained from three pipes inserted inside the pack, while the penetration test were made on the pack surface. The in situ results indicated that the packing material develops an inconsistent strength on various part of the pack which was mainly related to an inadequate mixing of grouts inside the pack.

Jan 1, 1992

Since 1958 there have been 16 major coal mine explosions in the U.S. claiming 323 lives. Whilst the exact cause of a number of these incidents has not been determined, the majority has involved gas ignitions in one way or another. In addition there have been fatal gas explosions in salt mines and vapor explosions in oil mines. Furthermore, many of the oil shale mines in the U.S. have proven to be gassy giving cause for concern. Compounding these problems is the fact that frictional ignition of methane in coal mines has dramatically increased over the past several years; over 100 such ignitions were reported in 1979. While, no fatalities have been attributed to frictional ignition in the U.S. since early 1978, a recent mine explosion in Nova Scotia which resulted in 11 fatalities was attributed to a frictional face ignition. Research being conducted at the Bureau of Mines is aimed at the prevention and suppression of gas explosions. Emphasis is placed on new coal cutter bits for reducing ignition frequency, machine-mounted water sprays for preventing frictional face ignitions and automatic devices for quenching incipient ignitions and fully developed gas explosions.

Jan 1, 1981

By P Commander

Western Australia is a major exporter of minerals, which places significant economic and environmental responsibility on Government and the stateÆs mining industry. Moving into the 21st century, mineral production in Western Australia is $14 billion accounting for 50 per cent of the stateÆs export income. There are over 60 large-scale mining operations distributed throughout the arid regions of the state (less than 300 mm/year rainfall). There are four key mineral provinces in arid Western Australia including the Pilbara (iron ore), Murchison (gold), Northern and Southern Goldfields (gold and nickel). These provinces have significant differences, particularly in respect to groundwater demand from mining and mineral processing, aquifer systems that are utilised, and approaches to groundwater management. The arid nature of the stateÆs interior and subsequent lack of surface water resources has required substantial groundwater resource development by the mining industry. A variety of aquifers have been explored and utilised ranging from shallow alluvium and calcrete, discrete fractured zones in bedrock, concealed palaeochannels and inland sedimentary basins. Groundwater usage by the mining industry is about 150 GL/year with most abstraction related to mine dewatering, mineral processing and dust suppression. Groundwater abstraction in Western Australia is regulated by the Water and Rivers Commission. In the Goldfields, the depletion of brackish (>2000 mg/L) and saline groundwater from storage is permissible, as mining is considered the beneficial use for groundwater which may be as much as 200 000 mg/L. In contrast, the low salinity groundwater of the Murchison and Pilbara is allocated on a sustainable basis. The role of monitoring and ongoing aquifer reassessment is crucial in water management, in evaluating the condition and performance of stressed aquifer systems. Mining operations face a variety of water resource issues ranging from insufficient availability for processing to excessive mine dewatering. These issues also change as a mine operation proceeds through its development, commonly starting with a deficiency and moving into surplus as deeper pits require more dewatering. Operating mines have to contend with three main issues: water supply, wastewater disposal and contamination of local water resources. In contrast, post closure issues are related to aquifer recovery or re-establishment of groundwater equilibrium, development of pit lakes in mine voids and isolation of waste products and associated seepage or run-off.

Jan 1, 2003

By Dr Subagyo

The energy consumption for producing metal from ore is strongly linked to the chemical stability of mineral being processed, availability and richness of the ore, and process route. Energy efficiencies are particularly linked to the process route. The energy efficiency of high temperature operations vary considerably but energy efficiencies greater than 70 per cent are achieved for large-scale metal production. Low temperature processing through grinding, leaching and subsequent electrowinning use large amounts of energy. In particular, grinding and electrowinning suffer from low overall energy efficiencies. The physical chemistry of a new proposed low temperature route, reactive ball milling, is unclear but preliminary evaluations indicate that it is likely to suffer from high energy consumption. In conclusion, low temperature processing routes for metals generally consume more energy that comparable high temperature processing routes.

Jan 1, 2002