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By R Garzon

For resources projects with healthy net present value (NPV) and low cash flow volatility, conventional discounted cash flow (DCF) analysis will continue to provide the dominant investment decision-making criteria. However, DCF analysis can be biased because it often applies a single risk-adjusted discount rate (RADR) to compare the value of projects with different risk characteristics. Many of the difficulties with DCF modelling arise from analystsÆ inability to determine appropriate risk discounts and to estimate expected spot prices inputs for the commodities produced over the life of the project. Modern asset pricing (MAP) is a very valuable complement to DCF analysis in addressing some of these issues. Most papers dealing with MAP, however, while academically rigorous, tend not to be explicit in terms of practical application of this methodology in routine project evaluation. This paper has the objective of reviewing the MAP methodology and of demystifying its complexity, by providing a simple but realistic step-by-step evaluation of a mining project, comparing its DCF and MAP NPV values. The paper concludes that MAP provides a minimum, risk-adjusted æfloorÆ value, thus representing a valuable complement to any DCF valuation.

Jan 1, 2007

By E N. Isaev, L E. Levin

New data on the geology of the Late Jurassic to Holocene sediments cover of the World and associated mineral resources (oil, gas, ferromanganese nodules, ores of massive sulphides and other metals) have been compilled in the Atlas at scale 1:25,000,000 and 1:10,000,000. The work was performed by scientists from four Institutes of Russia (VNIIzarubezhgeologia, VNIIoceangeologia, Vernadsky Institute of Geochemistry and Analytical Chemistry of theRussian Academy of Sciences and Geological Institute of the Russian Academy of Sciences). The Atlas shows variation of thickness and formational composition of the large complexes (Upper Jurassic-Early Cretaceous, Upper Cretaceous Eocene, Oligocene-Neogene, Pliocene-Pleistocene), distribution of oil/gas and ore deposits in each complex, data of deepsea drilling (leg 1-130),  thermo-pressure condition in the sedimentary basins within Circum-Pacific Rim.

Jan 1, 1995

I report results of over 850 microprobe analyses of sulfides, sulfosalts and electrum from the Favona adularia-sericite epithermal deposit of the Waihi district in the southern Hauraki Goldfield of New Zealand. Pyrite and marcasite from altered wall rocks that enclose the veins are stoichiometric, with compositions of FeS2, and no significant trace elements. In contrast, pyrite in veins commonly contains appreciable As (up to 3.2 wt per cent), and locally contains several tenths of a percent of Cu, Zn, Co, Ag and Sb. Vein pyrite may contain up to 0.22 per cent Au, but Au contents do not show a positive correlation with As. Limited electrum data indicate that it ranges from Ag0.47 Au0.53 to Ag0.54Au0.41Cu0.01Zn0.04. Chalcopyrite is stoichiometric CuFeS2, and most galena is PbS, but some galena contains up to 4.4 wt per cent Se, which substitutes for S in its lattice. The galena is not argentiferous; the highest Ag content is 0.45 wt per cent Ag. Sphalerite averages 4 mol per cent FeS, but ranges up to 15 mol per cent. Tetrahedrites [(Cu,Ag)10(Zn,Fe)2(As,Sb)4S13] show variable substitution, but most are Cu- Zn- and Sb-rich. Veins also contain aguilarite (Ag4SeS), stromeyerite (CuAgS), naumannite (Ag2Se), and mckinstryite [(Ag,Cu)2S].

Jan 1, 2004

Removal of Thiocyanate from Solutions by Precipitation

Sep 13, 2010

By Secis R

Northparkes Mines is located 27 km northwest of Parkes in central west New South Wales. The E26 deposit is the largest of all defined to-date in the area, containing over 50 per cent of Northparkes' resources and reserves. The combination of orebody geometry and geotechnical characteristics provide ideal conditions for the block cave method of mining of the first lift of the E26 deposit. Although this method of underground mining has been used for decades in other countries, E26 is the first example of its use in Australia. Copper-gold mineralisation at Northparkes is related to quartz monzonite porphyries that have intruded coeval Ordovician volcanics. Sulphide mineralisation (dominantly bornite and chalcopyrite) occurs principally within quartz veins associated with the porphyry intrusions. Veining and mineralisation occurs within both the porphyries and volcanics. To optimise the recovery of a resource within a block cave mine, a good understanding of the rock mass and ore flow characteristics is essential. These have a significant effect on the fragmentation size and range and on parameters such as the drawzone spacing, height of interaction zone and dilution entry. As ore within a cave column moves and mixes when material is extracted from below and beside it, the total reserve extracted is unique for a particular draw strategy/production history. Until recently, reserve estimates and production schedules were based on the application of a uniform dilution factor to the tabulated resource. However, given the complicated flow and mixing within the cave column, such a simplistic approach can produce erroneous results. Northparkes Mines purchased and sponsored the upgrading of a commercially available software package specifically developed for modelling removal of resource blocks under caving conditions. This Gemcom software package, PC-BC, has been used for mine planning, reserve reporting and production scheduling. Blocks within it resource block model are converted into a mineable reserve taking into account mixing and dilution during depletion of drawcolumns (by horizontal and vertical redistribution of insitu tonnage and metal). As PC-BC gives individual drawpoint reserves, it can be used during the planning stage to determine whether or not a drawpoint is economic. For E26 Lift I an optimal layout containing 130 drawpoints has been developed based on a nominal 14 m x 14 m drawpoint spacing and a 0.8 per cent equivalent copper (eCu) cut-off grade. Annual production schedules for the depletion of material above this layout are based on: I higher tonnage removal from higher grade drawpoints in the early years of production; and 2 drawpoint production rates proportional to the total tonnage of orr remaining in the drawcolumn up to the optimal height of draw tier subsequent years. The reserve is tabulated from the combined annual production schedules over the life of the lift. The pre-mining reserve for Lift I of E26 is 26.6 Mt at 1.43 per cent copper and 0.39 g/t gold, of which approximately 23.4 Mt will be extracted under caving conditions. By scaling down the annual production schedule, weekly drawpoint tonnage calls can be given for short-tern production scheduling.

Jan 1, 1997

By R N. Robson, A B. Christie, I J. Graham

Strategy development by the minerals industry identified the fragmented management of mineral resources as a significant impediment to the discovery and development of New Zealand Æs mineral resources. The total gross value of New Zealand Æs potential resources of coal and minerals is estimated at about $400 billion, but their potential value is not being realised. The management of minerals is now largely under the control of 86 local authorities (regional and district councils) and the lack of recognition of the significance of the sector has lead to inconsistencies in the way minerals are managed. The industry strategy influenced science funding for minerals, with the result that the 'mineral wealth' component now includes research on making better use of resource data in minerals management. Initially this research has targeted Otago and Northland regions where a number of initiatives are now in progress.   In Otago the Regional Council has budgeted to contribute $1 million towards a regional geophysical survey to advance mineral exploration and the management of subsurface resources in the region, to work cooperatively towards improving public awareness of the significance of minerals to regional economic activity, and to better coordinate policy-making for minerals at regional and district levels.   Crown Minerals, and the Far North and Whangarei district councils are considering providing funding support for an economic study of the mineral potential of Northland, building on a mineral resource assessment undertaken by GNS Science. Enterprise Northland is adding minerals to their list of potential growth sectors, and is supporting the operation of a Northland region minerals focus group.   Regional development agencies and local authorities have shown that they are willing to include mineral resources in their development strategies and to provide for them in policies and plans when supplied with information and assisted with technical support.

Jan 1, 2006

By A Self, B Robertson

During 2015 and 2016, the authors conducted a number of surveys, workshops and reviews of ventilation and gas management practices in Australian underground coalmines. The study was funded by ACARP with a brief to identify gaps in ventilation and gas management practices for current and future needs, and to prepare a road map for change that would assist in delivering improvements.The study found that despite many examples of leading practice, gas and ventilation management is not afforded the attention and priority that is warranted and that this must be remedied if future operational performance targets are to be achieved and the safety of the industry protected. This paper summarises the findings of the study and presents the recommendations proposed.CITATION:Robertson, B and Self, A, 2017. A review of ventilation and gas management in underground mines, in Proceedings Australian Mine Vent Conference 2017, pp 277–284 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Aug 28, 2017

Reason Analysis of Impurity Containing and Technology Discussion of Quality Improvement for Low-Quality Iron Concentrate

Sep 13, 2010

During the lifetime of an open pit mining project, each stage from exploration activities to exploitation and mine closure produces disturbances on the mining region. Mined land reclamation plans establish constructive solutions to rehabilitate the disturbed areas. Open pit mining as an effective method for exploitation of a wide range of orebodies especially for massive reserves of shallow metallic substances has exhaustive and harmful environmental effects on the mining project region. Nowadays, closure and reclamation stage in a mining project is emphatically enforced by the relevant environmental protection regulations in many countries. It is therefore obvious that closure and reclamation costs of an open pit mining project, as costs of other stages of project, must be estimated to enter the planning and design processes in open pit mining. Post-mining land use is the most important factor to recognise closure and reclamation costs. Thus, using a model to define optimal land use in planning phase of an open pit mining project is necessary in this regard. In this project a model was developed to define optimal land use regarding different sections of open pit mines such as pit(s), waste dump(s), tailing pond(s), roads, areas for onsite facilities and free land zones which are not mined. TOPSIS and PROMETHE techniques were applied to create the developed model. Lumber production was recognised as the optimal post-mining land use for the pit area of the case study in this project.

Dec 6, 2010

This paper discusses the prediction of subsidence over partial extraction systems in thick coal seams. A model based on empirical techniques using influence functions is developed to calculate the surface ground settlements above extraction panels. Independent of the influence function, two field parameters, the subsidence factor and the angle of draw (limit angle) are required to define the model. Both these parameters are best observed from critical or super critical subsidence areas. However in thick seams, extraction widths are typically sub critical and therefore it was necessary to refine an estimation process for sub critical conditions. Partial extraction systems in NZ are characterised by variability with respect to extraction thickness and depth. As extraction proceeds along a panel, conditions deteriorate once the critical span width is exceeded and therefore percentage extraction decreases. A further variable was introduced to the modelling which allows for varying extraction sequences. Two comparisons with field observations, one over a partial extraction panel, the other over abandoned workings, showed the method gave good agreement to measured subsidence values.

Jan 1, 2002

The Australian mining industry faces skills shortages across a broad spectrum of disciplines and levels, as it enters another major growth phase. Critical amongst the areas of most significant shortage in the professional sphere is the discipline of geotechnical professionals. More mines, deeper mines, ageing workforces are all contributing to this chronic shortage. But the shortage is not just at the operating sites, it is across a range of employment fields including sites, head offices, consultants, researchers and educators. This paper reviews the status of a number of these fields and explores some of the issues being faced. The different roles of a site geotechnical professional and a specialist geotechnical consultant are explored, together with some of the trends in terms of how such people are operating, and the skills they are expected to have to fulfill their job requirements. The paper also considers the move towards possible mandatory statutory geotechnical positions at mine sites and some of the implications if this were to come into force. Finally, the paper considers the current provider programs for mining geotechnical education, and how additional offerings are going to be needed in order to address the current shortages and the inconsistencies in terms of job expectations for people assigned to geotechnical roles without adequate education and training.

Nov 25, 2010

By D A. Manhire, R M. Flores

The commercial develop of coalbed methane from the Powder River Basin has demonstrated that low-rank coals can be a viable source of gas. Currently over 20 000 coalbed methane wells exist in the Powder River and it is predicted that there will be 50 000 wells by 2010. What makes the Powder River Basin successful is the thickness of the coal (in excess of 30m) as well as the low ash content (

Jan 1, 2002

By C A. Heinrich, J L. Walshe, V J. Wall

The Porgera Gold Mine, located in the highlands of Papua New Guinea, has produced over 5 million ounces of Au, since its opening in late 1990. The deposit is located within Upper Cretaceous Papuan Platform sediments approximately 25 km south of the Lagaip Fault, and is spatially and temporally associated with the 6 Ma alkaline Porgera Intrusive Complex.

Jan 1, 1995

By D J. Brake

The correct specification and then selection of primary or major fans for an underground mine is a critical decision not only in terms of fan capital and operating costs, but also safety and reliability which usually has a major impact on mine production. In addition, fan manufacturers may spend tens of thousands of dollars preparing proposals for a purchase enquiry for primary fans especially where they have complete responsibility for the installation (turnkey projects). There are many good reasons to thoroughly and fairly adjudicate fan tenders. This paper describes the process to achieve this starting with the initial fan specification through to the final award.CITATION:Brake, D J, 2017. Fan specification and tender adjudication for mine ventilation engineers with particular reference to turnkey projects, in Proceedings Australian Mine Vent Conference 2017, pp 245–252 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Aug 28, 2017

The use of mining by-products for beneficial use may face approval, and acceptance barriers. This paper described the use of a sustainability framework to assess the safety, effectiveness and economic value of modified bauxite residue (Alkaloam«) for use on agricultural land in the Peel-Harvey region of Western Australia. The results indicate the merit associated with using this by-product from a safety and, private, community and environmental value perspective. They may be used to indicate the worth of pursuing any future community acceptance and agency approval process.   The use of Alkaloam« for beneficial use on agricultural land in Western Australia was first investigated over 25 years ago. Efforts to gain regulatory approval and community acceptance of Alkaloam« have had a complicated and enduring history. Understanding and assessing the value of a by-product using social and economic considerations, in conjunction with an environmental assessment, provided a more complete evaluation to that previously used.

Jun 1, 2010

By J Addai-Mensah, W Skinner, K Quast

The efficiency of any iron ore value-adding operation is closely associated with detailed knowledge of the mineralogy, especially in the processing of lower grade and complex ores. There are a number of physico-chemical properties of iron oxide mineral phases (eg goethite, hematite and magnetite) that can be prudently exploited to enhance their processing efficiency. Recent iron ore studies on the upgrading of high-goethite iron ores have highlighted that the knowledge of the various phases of both iron oxide and gangue minerals is critical to the economic processing of these ores. Appropriate knowledge of this kind can lead to better-designed flow sheets for economically viable production of saleable products. With the increasing use of goethitic materials as blend components of iron ore concentrates for steelmaking, this review paper focuses on relevant beneficiation processes and the pivotal role of mineralogy and petrology in producing saleable iron oxide concentrates from ore blends. For goethites, mineral impurities including silica, phosphorus and alumina are very important. Physical separations, as well as those incorporating higher temperatures, have also been included in this review as potential processes to upgrade high-goethite ores.CITATION:Quast, K, Addai-Mensah, J and W, Skinner, 2017. The importance of mineralogy and petrology on the beneficiation of iron oxide ores, primarily those containing goethite, in Proceedings Iron Ore 2017, pp 233–240 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Jul 24, 2017

By W J. Rankin, D R. Swinbourne

There are large tonnages of low-grade manganese ores in India fromwhich it is uneconomic to produce ferroalloys by conventionalsubmerged arc furnace smelting. A possible way to utilise these ores is to smelt them with carbon to produce pig iron and a manganese-rich slag, then to metallothermically reduce the molten slag to silicomanganese. Thermodynamic modelling of the metallothermic reduction stage using aluminium, silicon or aluminium-silicon alloy as the reductant at 1450¦C showed that an acceptable grade of silicomanganese could be produced. Manganese recoveries were predicted to be about 80 per cent. Heat balances indicated that silicothermic reduction may not produce enough heat to maintain reaction temperature. Small-scale laboratory experiments showed that the manganese grade of the alloys, and the manganese recoveries, were close to those predicted, but those for silicon were muchlower. Aluminothermic reduction produced the highest grade manganesealloy. The slag-metal equilibrium involving manganese, silicon and their oxides was investigated and it was found that equilibrium was not attained in any of the experiments, due probably to the very low rate of reactions involving silicon. This could be used to advantage in practice to achieve higher manganese levels in the alloys.

Jan 1, 1998

Investigation of the Effect of N-Substituents on Performance of Thioureas as Special Collectors for Copper Sulfides by ab Initio Calculations

Sep 13, 2010

By A Bouazza, J Kodikara

In this study, 23 samples of leached ash (LA) were collected from an ash pond at Loy Yang Power Station and geotechnically characterised. The samples were collected at various depths and locations within the ash pond on two separate occasions in order to account for the full variability. The LA within the ash pond at Loy Yang Power Station (LYPS) was found to vary in texture from silt to sand, depending on the location from where the sample was collected. Samples collected near the ash pond inlet discharge point, for instance, contained more than 50 per cent sand sized particles and were subsequently classified under the Unified Soil Classification System (USCS) as silty sand (SM). Further downstream of the inlet discharge, the LA became progressively finer and was classified accordingly as elastic silt (MH) when the sand content became less than 50 per cent. Basic geotechnical testing revealed that the LA from Loy Yang Power Station was generally acceptable as a landfill cover material. The permeability of LA, however, was generally too high for prescriptive covers, (ie resistive covers that generally rely on the impervious nature of the material to control percolation). Alternative covers, generally rely on the store/release function of a capillary or monolithic barrier to prevent percolation into the landfill. Subsequently, a material that can maintain a high water storage capacity while at the same time, readily allow infiltration and evapotranspiration is required for an alternative cover. Sandy silt and silty sand are optimal soils for alternative covers, as they do not yield water to gravity forces, but do give up most of the water in their pores when subjected to high-matric suction (Kavazanjian, 2001). The effectiveness of alternative covers is ultimately assessed using computer models, such as UNSAT-H and HYDRUS-2D, to rigorously perform water balance calculations. Prior to using a computer model to determine the highest possible percolation in the worst climatic conditions, it is necessary to select the most appropriate materials. This paper suggests a method to screen available materials for use as an alternative cover material on the basis of the soil water characteristic curve (SWCC).

Jan 1, 2003

Tokyo Metropolitan Government designs the stormwater storage plans in underground, as a measure of flood control in completed urban district and improvement of combined sewarage system. This time, introducing those plans, we report about IKEJIRI and SIN-KOMAZAWA STORAGE TRUNK LINEs design and construction. They are located in Meguro river basin of the Morigasaki drainage area. Both storage trunk lines have capacity to store 15O,000m3 of stormwater. They are in use for countermeasure of flood till Meguro river's strengthening (intensity 50 mm/h) is ended. And after the strengthening, they will be in use for improvement of river water quality, through the storage of combined sewage and first runoff, which, otherwise overflows weirs and flows to river in a rainy day. These storage trunk line's full length is about 5700m. Boring diameter 66140 mm (f = 2672m) and 47800 mm (I = 2866m) of these tunnels are constructed by Mechanical Shield tunnelling method. And boring diameter 3600 mm x 4000 mm (R = 180m) is constructed by NATM tunnelling method. We began works in 1983, and have a mind to complete in 1987.

Jan 1, 1987