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Future metal prices play a direct role in both the economic evaluation and short to medium planning of a mine scheduling sequence. It is difficult to predict with accuracy the future price of volatile metal commodities, however, it is possible to fix some future metal price, outside of long term contracts by the selling of futures contracts through a commodities exchange. The futures contract represents a fixed amount of a speci- fied quality of a commodity for future delivery at a predetermined price. Several different types of hedginc are possible, one in particular which is best suited for mining companies. There are relative advantages and disadvantages when trading in futures contracts and particular reference is made to gold contracts on the Sydney Futures Exchange.

Jan 1, 1980

Exploration requires a lot of skill, technical knowhow, and money; the money is usually less painfully available when provided by a profitable cash flow of an existing organisation that has income against which exploration cost is deductible. Planning the financing for development of a proven resource should begin at the earliest stages even while the mining plan is being formed up. The character of the participants has a bearing on the nature of the financing "package" and the structure that is to be selected for the venture. The security for borrowers in a remote mining resource is no better than the capacity of the participants to bring that resource to profitability in line with the findings of a thorough feasibility study. Taxation considerations related to the structure selected and the timing of the cash flow are of vital importance. Sales contracts have generally been a basic requirement of institutions financing mineral mining projects. Clauses relating to price, price escalation, and currency var- iations, are key factors in those contracts. Initial contracts have generally been required to cover initial overall costs.

Jan 1, 1974

The history of the discovery. and successful development of the offshore Gippsland Basin oil and gas fields has been well docu- mented in contemporarary and more recent industry and profes- sional literature. The various articles, papers and books record fairly balanced views and comments as to the nature and results of the explora- tion effort, and factual data concerning the subsequent develop- ment of the fields and facilities concerned with petroleum production in the Bass Strait and Gippsland environment. Recommended reading for those interested in the scientific and technical aspects of the Gippsland Basin developments and the search for petroleum in the Bass and Alway Basins includes the available library contained in the publications of The Australasian Institute of Mining & Metallurgy The Commonwealth Mining Congres since 1960 The Australian Petroleum Exploration Association The Geological Society of Australia The American Association of Petroleum Geologists Various Commonwealth and Victorian Government instrumentalities Trade Journals

Jan 1, 1988

Dust emissions from mining, material processing and ship loading operations (fugitive dust sources) are an environmental issue of increasing concern to both government regulators and the community. The main concerns relate to potential amenity, health and environmental impacts from the emissions. Therefore it is imperative that mining/ processing operations, as part of their overall environmental management, reduce fugitive particulate emissions to as low a level as is practicably possible. This technical paper outlines the mechanisms that lead to fugitive particulate emissions, the importance of understanding the exact cause of fugitive emissions, monitoring methods that can be used to quantify the emissions from specific sources, the use of atmospheric dispersion modelling in dust management and innovative dust management strategies including predictive meteorology and proactive management.

Jan 1, 2009

Developing and operating mines in developing countries is never dull, but continuously challenging in terms of geology and terrain, geography and location, culture and land tenure, environmental and social issues, fiscal regimes and in some cases political risk. In addition, the rapidly changing nature of the communities with little understanding of the nature of mining at the community level requires us to continually manage issues affecting project development and mine operations with greater sensitivity. In frontier regions, people skills can become more essential than technical skills, particularly in dealing with indigenous people. Hence, managing a mining project requires a huge relationship effort.Effective communication with communities of different cultural background and proactive management of issues influencing community aspirations and desires requires not only new skills but also creativity with new concepts on how to deal with social issues under a different cultural context. The involvement of government agencies and NGOs is an important ingredient to creating understanding and collaborative approaches to common social issues. Maintaining stakeholder relationships pays in the long-run and is a useful exercise in getting information feedback from the wider community.

Jan 1, 1997

By Laros T, Schoenbrunn F

Deep paste thickeners have been proven capable of consistently producing medium to low slump material for disposal without the need for filters. However, proper design of the entire system is critical for a paste project to he successful. Some of the factors that must be carefully considered in design of a paste system include thickener sizing, tailings inipoundineni design, underflow pumping, and control system.

Jan 1, 1998

By N Clarke, J Hunt, A Barros, N Guerrero, L Keeney

Grade Engineering® (GE) involves a range of integrated technologies and operating protocols for improving effective feed grade through early rejection of low value material prior to costly processing activities and has the potential to transform the economics of large, low grade, mining operations. Extensive GE test work by AngloGold Ashanti (AGA) and the Cooperative Resource Centre for Optimising Resource Extraction (CRCORE) determined that the Gramalote gold deposit in Colombia is highly amenable to implementation of grade-by-size screening to upgrade the ore at a production scale. To understand the relationships between geology and the upgrade response drill core and bulk samples were analysed at the Centre for Ore Deposit and Earth Sciences (CODES) as part of a larger CRCORE project to understand geological controls on grade-by-size deportment, i.e., the tendency for specific mineral phases to preferentially fractionate during breakage into different size fractions. This work is focussed on understanding the role of mineralogy and texture in influencing rock breakage and natural fractionation at a range of scales. Detailed logging of Gramalote drill core and mineralogical analyses including hyperspectral logging, portable and bench-scale X-ray fluorescence (XRF), plus low resolution Laser Ablation of intact drill core pieces, combined with data from site (drill logs, geochemistry, petrophysics) were used to evaluate the ore and alteration mineralogy, vein paragenesis and textural variability. This provided information on gold deportment and allowed the identification of favourable host veins. Bulk sample material from different ore grade zones was also analysed. A comparison with the results of GE testing shows that positive upgrade results are produced by rocks with abundant veins, particularly those associated with potassic and/or white mica alteration. This work indicates upgrade response can be predicted from drill core using data collected by a combination of automated systems including hyperspectral data, XRF, and detailed drill core logging.

Nov 10, 2020

By P Stoker

"An EXTENDED ABSTRACT is available for download. A full-length paper was not prepared for this presentation. Mining and exploration properties have a unique set of technical risks. Privately-owned companies considering investing in the resources sector can optimise their investment decisions by adopting a systematic technical assessment of acquisition assets, similar to the approach commonly adopted by public financial institutions and publicly-listed companies.Technical due diligence provides a process to identify key geological, mining, geotechnical, metallurgical, environmental and social risks and opportunities and determine the most likely business case and valuation of assets. Technical due diligence is commonly carried out in parallel with legal, commercial and financial due diligence, often involving the acquirer, to maximise the understanding of the investment.There are significant advantages in investors conducting a comprehensive technical due diligence, which typically involves site visits and project assessment to international standards by an independent, multidisciplinary team of experts. The outcomes provide the opportunity for the investor to make early, informed decisions and to understand and manage risks.Technical due diligence may be carried out at several stages: when considering and weighing up a number of investment options, prior to and during a transaction or immediately post-transaction. In the first stage, the outcomes will inform the choice of investment and, more particularly, whether there are any fundamental flaws in the projects being considered. In the second stage, due diligence outcomes can inform the level of investment and approach to risk management and planning. In the third stage, risks and opportunities can be investigated in more detail, allowing the investor to consider the best options to reduce risk and maximise the benefit of the investment.This paper presents a summary of the technical due diligence assessment process, its benefits to investors, common risks in mining and exploration projects known to cause mining asset write-downs and principal technical due diligence approaches.CITATION:Keogh, A, Stoker, P and Thomas, M, 2015. Benefits of due diligence in private equity mining investments – maximising value and unearthing common risks , in Proceedings PACRIM 2015 Congress, pp 115–126 (The Australasian Institute of Mining and Metallurgy: Melbourne)."

Mar 18, 2015

By D Sinclair

Sustainability will become a more stringent issue in mine planning over the next 40 years. The evidence of this is apparent in State and Commonwealth government policies now emerging in respect to water, green house gases, waste and other process emissions. The mining industry has developed policies such as æEnduring ValueÆ, which go some way towards establishing a framework within which mining can continue to be an underpinning strength within the Australian economy. However, the demands of new policies are directed at extending sustainability in ways that will change the way in which projects are implemented. This paper examines the nature of new policies aimed at water, energy and emissions, considering examples of where mining practices have or may change in order to meet new objectives in resource efficiency. Important issues will, as always, be the international price competitiveness of the mineral resources being produced but, where this is now devolved around mining and processing costs, these costs may in the future be strongly correlated to the nature and cost of local energy resources compared with those in Australia, the ability to mitigate and minimise water resource use and environmental impacts deriving from emissions and the veracity of competitor nations in meeting the same standards of performance in resource efficiency usage and in emissions control. As these systems bed down internationally mining in Australia will need to concentrate, amongst other things, on finding higher grade orebodies and on better technologies to release the value of lower grade ores. For our mining industry to remain strong, greater expenditure will need to be focused on these objectives. Finally, it will be important for the industry to remain vigilant and proactive in directing government policy development to ensure that practical objectives in mining are not curtailed unnecessarily through ignorance of mining market precepts developed over the centuries of mining operations.

Jan 1, 2008

Rather like the mythical "Economic Man" "an employer" in this context must necessarily be an abstraction, and the views possessed by such an abstraction, a composite of many views known to have been expressed. Not even the complex Conciliation and Arbitration legislation in this country provides any helpful specifications, except in one peculiar particular. The Australian Conciliation and Arbitration Act provides an almost totally tautological definition, except in that one oddity referred to above. It is this : "An employer means any employer in any industry, and includes any person who is usually an employer in an industry, and also includes a Club." No doubt there is some perfectly justifiable reason for such specific and unique particularity in an otherwise meaning- less definition. That need not trouble us in this exercise.

Jan 1, 1982

By M Jones, G Corder, A C. Keith

"Sustainable development has become an issue of ever increasing importance to the mining industry. The Ernst & Young (EY) mining industry risk radar regularly shows several sustainability elements in the top ten risks, with social license the number three risk in the 2014/15 survey. This is supported by the Fraser Institute survey results of 2013 showing that 36 per cent of responding companies indicated public opposition had affected their permitting and approvals process.Addressing these issues in a strategic way across a mining business that is then translatable to actions at operational level has remained an elusive goal in the industry. In addition the environment and community issues are commonly viewed as somewhat separate from financial and production issues and as a compliance cost rather than a value add. In their Harvard Business Review paper of 2011, ‘Creating Shared Value’, Porter and Kramer outline changes in thinking required for companies to improve their business sustainably through considering the societal issues impacted by their operations and products. Along the lines of ‘doing more with less’ companies’ value chains can be redefined to reduce energy, transport, water or other resource usage leaving additional resource for societal usage and/or reducing environmental impacts. This paper explores the linking of the holistic Five Capitals-based approach with the creating shared value (CSV) concept to help businesses unleash the benefits of innovation. Previous papers have demonstrated the potential for Five Capitals approach to create strategic value through sustainable development. Building on previous work, this paper provides an overview of the current status of holistic approaches to mine management and presents the application of the CSV concept on an African mine currently undertaking capitals-based strategic planning. The paper also demonstrates the value that has been created through utilising this approach and proposes improvements for changing the way the industry tackles and delivers benefits related to sustainability issues.CITATION:Keith, A C, Corder, G and Jones, M, 2016. Strategic sustainable development – creating shared value in the mining industry, in Proceedings International Mine Management Conference, pp 249-264 (The Australasian Institute of Mining and Metallurgy: Melbourne)."

Jun 22, 2016

Perseverance Mine is a part of Leinster Nickel Operation (LNO), a fully owned division of Western Mining Corporation (WMC). The town of Leinster is located 370 kilometres north west of Kalgoorlie. LNO operates an underground gold mine and mill at Agnew, 30 kilometres west of the town in addition to two nickel mines and a mill 15 kilometres east of Leinster. Both the Perseverance and Rocky's Reward nickel orebodies are mined by open pit and underground methods.The Perseverance orebody was discovered in the early-1970s. Decline development commenced in 1977 and the first ore was milled in 1978. The shaft sink started in 1979. The shaft was comissioned in 1983, four years after sinking commenced. The mine was placed on care and maintenance in 1986 and purchased in January 1989 by WMC.

Jan 1, 1992

Safe, efficient production is a common objective for all large open pit mines. Despite comprehensive policies, procedures and regulations aimed at protecting workers, several people die each year in mining equipment-related collisions. The limited sightlines of heavy equipment operators coupled with difficult operating conditions are major contributing factors to the majority of mining equipment collisions. Off road haul trucks are the most common type of machinery involved in surface accidents. These vehicles represent the primary target for improving safety performance by mine operators. Although several commercial products have been introduced to address these issues, none have achieved significant market acceptance. The current collision avoidance solutions lack integration with onboard fleet management and equipment health systems. To achieve acceptance in industry, any collision avoidance system must offer high reliability, minimal false alarms, and value for money. With these criteria in mind, this paper will examine the pros and cons of the various technological approaches to collision avoidance in an open pit mining environment. The unique global positioning systems (GPS) and camera-based proximity detection solution on offer from Modular Mining Systems will be described. This solution uses intelligent filters to minimise false alarms. Tight integration with fleet management provides context information to enhance warnings and enable back-office near-miss analysis. Available today, this combination creates a practical solution to improve the situational awareness of heavy equipment operators, at a compelling price point. Future directions for maximising heavy equipment operator situational awareness will also be examined.

May 1, 2010

By S D. Dessureault

In one of North AmericaÆs largest mines, which contains more than six active coal-producing faces, mine controllers must meet the complex challenge of adhering to the mine plan while also ensuring customer quality. Fleet management systems (FMS) provide many different avenues to control production flows, from the faces to the various pit crushers. Nonetheless, mine controllers must balance a variety of factors such as unplanned downs, differing customer demands, their own daily key performance indicators (KPIs) related to equipment utilisation, among others. Deviating from the short-term mine plan is the most common means of balancing the other factors, since adherence to the plan is traditionally only measured during the weekly variance meeting with engineering staff. However, such deviation may be one of the most costly responses, as long-term scheduling issues may arise such as multi-face dead-heading or insufficient stripping. This paper focuses on the development of a system for real-time adherence to mine plan within a control room environment. This system is part of a larger blending-focused, multi-million dollar project with elements of a centralised remote control room, developed at the University of ArizonaÆs Mining Information Systems and Operations Management (MISOM) Mine Control Center (MC2). The mine plan (MPL) component of the overall blending system integrates both historical and real-time FMS data with mine plan requirements directly sourced from original systems (no additional input required). The measures, displayed largely as graphs, have tools to help controllers manage the production to facilitate adherence to the plan. Some measures are designed to motivate crews to perform by inciting competition between crews, softened through a study of the controller culture. The MPL component was deployed at the mine, and the before and after deployment adherence was measured. This paper discusses the technical development of the new tool, its deployment, and an ethnography (study of culture) to understand controller motivation.

Sep 26, 2011

By Mills J. C

Concentration ranges are presented for 15 trace elements not previously reported in Australian bituminous coals. The results were obtained by instrumental neutron activation analysis, which has sufficiently high sensitivity to enable determination of many elements directly in coal at concentrations less than a few µg/g. The ranges found in Australian coal are similar to the ranges reported in North American bituminous coals.

Jan 1, 1983

By G Hobart

Laboratory flotation tests were conducted to investigate the role of pH, zinc sulfate and potassium metabisulfite in the flotation of galena and marmatite in the Broken Hill orebody. Marmatite was depressed under alkaline conditions alone, however the addition of the two depressants, either individually or combined, resulted in the greatest selectivity. The use of zinc sulfate under alkaline conditions resulted in good selectivity whilst maintaining a high lead recovery. The addition of potassium metabisulfite under alkaline conditions reduced zinc recovery, but high additions reduced lead recovery. The addition of both depressants at alkaline pH produced the best result, with a lead concentrate of 72.6 per cent at 98 per cent recovery with less than four per cent zinc recovery.

Jan 1, 2005

There are a number a stages in a project at which an audit must, or should, be undertaken. An independent audit may be necessary for the comfort of directors and/or financiers before the major finance is committed, but an internal pre-development audit is the opportunity for the management team to take stock of the project and reaffirm their confidence and commitment. Maxims for project success are given and a check list for pre-development audits is presented. The need of mid-development audits may arise and their brief will depend on the circumstances arising. A game theory approach to decision-making is demonstrated in which the alternative of fast-tracking a development is considered. At the conclusion of the project, before the team is disbanded, a post-development audit should be made. Valuable learning can come from this process which could give important guidelines for future projects and a check list is presented.

Jan 1, 1997

By S M. Mousavi

The issue of estimating evaporation in soils is central to the design of engineered soil caps for mine waste and landfill applications. In general, because evaporation from the soil is difficult to measure in the field, laboratory experiments and empirical methods have been used. Much of the earlier work has been conducted in soil science, although in recent years, geotechnical and geoenvironmental engineers have given great deal effort to this work. The result of this increased interest is the development of numerical models, such as UNSATH and SoilCover for estimating evaporation. In this study laboratory-measured evaporation from soil columns was compared with evaporation predicted using the computer program SoilCover, and the analytical method proposed by Gardner and Hillel. Good agreement among the results was observed. Also the sensitivity of the predicted evaporation to soil hydraulic and geotechnical properties, such as saturated hydraulic conductivity and coefficient of volume change was discussed and the practical implication of the sensitivity were highlighted. The work has application in the design and construction of soil covers over sulfide-bearing mine waste and landfills.

Jan 1, 2003

For the mineral industry, sustainability seems to mean socially positive and ecologically neutral mineral extraction. Mines are financed and developed in response to demand for their products. The purpose of my paper is to indicate the potential dimension of demand. As part of an unrelated study which I undertook ten years ago, it became apparent that there is a persistent relationship within communities between infant mortality and mineral use; greater mineral use corresponds to a lower rate of infant mortality. This comes as no surprise; sufficient potable water, a reliable supply of food, hygienic waste disposal, hot water and refrigeration all improve the chances of survival of the more vulnerable members of any community. The predictable provision of these facilities requires the application of minerals. This relationship is supported by a table (Appendix 1) included in the UNICEF publication, æThe State of the WorldÆs Children 2001Æ. This table lists regional infant mortality rate (IMR) statistics from around the world, including a listing for æindustrialised countriesÆ. Such countries experience an IMR lower by an order of magnitude than any other region. æIndustrialisedÆ inevitably involves the use of metallic and energy minerals. The principal use of copper is in the generation and distribution of power; it is fundamental to any industrialisation. IMR is a valuable connection because it quantifies caring for the young, a vital strategic driver of human behaviour independent of time, place, fashion or economic circumstances. I have tabulated the population, IMR and the copper demand per head of population for countries containing over 99 per cent of the population of the world in the years 1950, 1960, 1970, 1980, 1989, and 1999. These countries have been consolidated into four groups, Very High, High, Medium and Low rates of infant mortality (UNICEF has used this terminology; the Low group includes all the æindustrialised countriesÆ). The purpose of this consolidation was to reduce the volume of work, to dampen out the impact of regional wars and business cycles, and to dampen out the variable quality of information. Based on the pattern of the copper demand, population and IMR over the last 50 years, I have projected the likely copper demand in 50 years time. A dominant feature of my tabulation is the increase per decade in copper use per head and a corresponding reduction of the IMR. The word æuseÆ is preferred to æconsumptionÆ because it is estimated that over 80 per cent of all the copper ever mined is still in circulation There are two major influences at work; one is the absolute increase in population (UN estimates for 2050 are updated periodically) and the second is the movement of countries into a higher pattern of use and lower IMR. For example the Medium group in 1989 had an infant mortality rate approximating that of the Low group in 1960. With the population of the Medium group (which includes Russia and China) forecast to reach 2.6 billion in 2050, the world copper demand in that year will be significantly greater than the present figure. Nevertheless it will not be as great relatively as the increase of over 300 per cent in the last 50 years.

Jan 1, 2002

By J Folwell, G Phillips, F Gassner

Geomembranes selected for various applications often start with considering target properties developed by industry organisations such as Geosynthetic Research Institute (GRI), and test methods developed by ASTM and other Standards organisations The geomembrane types are typically, initially selected based on manufacturers recommendations and chemical resistance data from the manufacturer or industry knowledge. Geomembranes considered for this project included materials with material properties that exceeded the minimum target values of various test methods. The difficulty is in selecting which parameters are most important for a particular application and also what service life can be expected for the geomembrane under various chemical and environmental exposure conditions. Accelerated aging testing of candidate geomembranes in simulated exposure conditions can be useful to select the preferred geomembrane and predict the service life of the geomembrane under different exposure conditions. The exposure conditions of immersion in acidic tailings liquor, splash zone and freeboard zone were considered for evaporation ponds on a site with significant heat and UV radiation. Candidate geomembranes considered a range of different types of polyethylene liners. The results of the accelerated aging testing have allowed the selection of the geomembrane for the range of exposure conditions and evaluation of the expected service life of the geomembrane.

Jul 1, 2021