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The Joint' Venture Method is a procedure for assessing the value of exploration properties, particularly those for which resources have yet to be delineated. It aims to convert the terms of an actual or synthetic joint venture into the equivalence of an arms- lengths cash transaction between a willing seller and a willing buyer. This paper sets out one approach to achieving that conversion. It discusses both simple and complex cases and gives some examples from both public and private documents. It also includes some case studies in which the Joint Venture Method of valuation can be compared with values derived for the same project using other methodologies including actual cash deals. The Method has failings in both mathematics and logic. However because it does reflect or simulate an arms-length deal which takes into account past exploration effort and expenditure and an assessment of prospectivity at a particular point in time, it is felt that it can provide a reasonable approximation of trade value or asset value of a prospect, particularly if used in conjunction with other methods.

Jan 1, 1994

Geosynclines have been well studied for many years, but very little has been written about the concepts of sedimentary basins in spite of the vast amount of data available. They have been regarded, perhaps, as well- understood intuitively, and therefore not worthy of study. Many of the fundamental concepts of geology were developed during the 19th Century with the construction of coal mines, canals and railways. It was a happy chance that led railway engineers in the early days to think that trains could not climb any but the smallest gradient, so, in Britain at -least, numerous railway cuttings and tunnels were made. These exposed to view and study, in a better form than Nature usually provides, a great deal of interesting geology. Because of the lack of literature about the concepts of sedimentary basins, it is not possible to be sure what the early geologists thought. It seems that sedimentary basins were regarded as recording a history of subsidence during the early stages, when a transgressive sequence accumulated; and a history of uplift during the later stages, when a regressive sequence accumulated. It seemed axiomatic that the age of folding and faulting was younger than the rocks folded or Faulted.

Jan 1, 1987

The paper examines the possibility of applying the monolithic packing technique developed in the UK to the division of wide development drivages in Australia, so enabling double entries for longwall retreat panels to be created from shortwall units. The monolithic pack of the UK therefore becomes a monolithic partition in this proposed Australian application. A method developed for the analysis of the load development in packs installed behind longwall advancing faces is adapted and used to predict the support performance of the monolithic partition. Conclusions are made regarding partition construction and possible rates of advance.

Jan 1, 1986

The medical evaluation of the health effects of dust exposure in the mining industry should be based on the premise that the results of the medical examinations will be considered in relation to the previous history of exposure to dust.(l) To this end the Mines Regulation Act and the Regulations under that Act in West- ern Australia provide for: the prime responsibility for dust sampling to rest with the mining companies; the appointment of a Ventilation officer by each mine and the sampling and record- ing by him of dust and toxic gases in work places at three monthly intervals, or more frequently as required; the appointment of a Mines Medical Officer who shall make provision for the medical examination of persons and the prevention of occupational diseases; the appointment of a Ventilation Board, consisting of the State Mining Engineer, the Senior Inspector of Mines for the State, an Inspector of Mines having specialised training in ventilation tech- nology, a medical practitioner having specialised experience in occupational health problems relevant to the mining industry, and a Scientific Officer having duties under the provisions of the Clean Air Act, 1964;

Jan 1, 1979

The reliable estimation of ore reserves in mineral sand deposits depends on drilling methods and assay techniques that have been specially developed within the industry. Improvement of these techniques is a continuing process, as variations within and between deposits are highlighted during the actual mining operation. Constant monitoring of metallurgical losses along with mineral production allows comparison of mineral tonnages accounted for by mining, with original calculated reserves. A review of ore reserves in the Jerusalem Creek field from scout drilling in the sixties, through mining in the seventies, shows the progression from understatement prior to mining, to the present when more than two thirds of the reserves have been depleted.

Jan 1, 1979

By R W. Wilson, F H. von Glehn

With ever-increasing energy costs and the modern focus on system efficiencies, the practice of æventilation-on-demandÆ is gaining momentum. Several examples, ranging from paper studies to practical examples have been recorded and another recent case study is presented here to encourage the practice. In comparison, æcooling-on-demandÆ has received far less attention. This paper explores the possible merits of this practice by investigating the theoretical response of cool intake airways and the thermal interaction between the air and the rock, in order to gain a better understanding of the system behaviour and to quantify the possible savings. A case study is presented that demonstrates the improvements that can be achieved. Recent developments that allow live interaction between ventilation network models and on-line monitoring systems, have the potential for intelligent active control and alarming of ventilation and cooling networks. This will facilitate and maximise the benefits to be derived from ventilation and cooling-on-demand.

Jan 1, 2005

By P Dight

Increasing the strength of backfill has been the subject of much research. In the former Soviet Union most methods concentrated on the fill mixture including chemical additives, binder re-grinding, water electromagnetic activation and the use of vibration and turbulent activation. For the most part, this research has been confined to the laboratory where the results were not representative of field conditions. These methods also were directed at increasing the mass strength and were not specifically aimed at strengthening the fill where it may subsequently be exposed for instance on the side or underneath as it required for underhand cut and fill methods of mining. In the Republic of Armenia, a method of fill strengthening known as electro-activation has been adopted. The deposit it an epithermal gold deposit which to-date has been mined using underhand cut and fill with timber support. The backfill comprises cement and pumice placed in 2.5 m lifts. Central to the method of electro-activation is the placement of the electrodes in the stope in which the polarity and the electrical potential are changing during filling. The process promotes the binding of the fill layers, the bond to the side walls and to the adjacent fill. There is a significant increase in the compressive and tensile strength. The process has been used with beneficial effects on reinforced concrete and could be used in any mine utilising hardening fills.

Jan 1, 1998

By M Fisher, P Bradley, D Rogers

New England Antimony Mines has operated the Hillgrove Gold Plant at Hillgrove in New South Wales since 1969, producing stibnite and arsenopyrite products by selective flotation. Gold is present in the ore as fine free gold, gold associated with stibnite and gold associated with arsenopyrite, with some ten to 20 per cent of the gold reporting to the antimony stream and 35 - 50 per cent reporting to the arsenopyrite stream. Opportunity to process the arsenopyrite concentrate for onsite recovery of the gold values to improve upon the ten per cent recovery achieved by conventional cyanidation was recognised and subject to comparison with biological oxidation, roasting, nitric acid oxidation, low temperature oxidation (Activox«) and conventional pressure oxidation. Following further testwork and a feasibility study, a 7500 tonnes per annum concentrate feed pressure oxidation autoclave circuit was constructed at Hillgrove and commissioned in October 1999. The plant has operated at the close to design capacity since commissioning whilst optimising various operational and metallurgical aspects. The last three years has seen the process achieve an overall gold recovery of greater than 90 per cent for oxidised concentrates.

Jan 1, 2002

By W Uhlmann, U Grnnewald, B Nixdorf

Flooding with surface water is the preferred technique for the abatement of acidification from pyrite oxidation in the lakes of abandoned Lusatian lignite mines. However, water resources of the region are limited and in addition, interruption of water inflow during the summer and the termination of the flooding process after reaching the final water level can lead to a re-acidification of the lakes. The development of three mining lakes with a surface-water flooding history of six to 28 years was analysed û in two lakes on the basis of fortnightly to monthly hydrochemical monitoring data. During summer flooding interruption, the younger lakes showed a decrease in pH from neutral down to pH 4. The degree of the pH decrease depended on the intensity of the groundwater inflow from the overburden dumps and this affected the hypolimnion more than the epilimnion. The third lake was flooded 28 years ago and up to now, interruption of the surface water inflow resulted in re-acidification. These three examples were able to show the benefits and limits of the surface water flooding technique for the abatement of Lusatian mining lake acidification.

Jan 1, 2003

By I Grant

On the 1 June 1978, the Town and Country Planning Act 1953 was replaced by the revised and more comprehensive Town and Country Planning Act 1977. The new act brings in some substantial changes to the law affecting regional and district planning, and for the first time makes provision for maritime planning. The importance of the Town and Country Planning Act 1977 to the Mineral industry is primarily in the relationship between Regional Planning Schemes and District Schemes as the needs and resources identified in a Regional Planning Scheme will override the underlying District Schemes. The mineral extraction industry must be recognised as a regional responsibility which draws on the resources of a region to satisfy the demand of the communities within that region rather than a purely local operation within one District.

Jan 1, 1978

By H R. Watli, K L. Davies, J A. Johnson

Novel microbial isolates that readily oxidise iron and sulfur were recovered from samples collected from a spent chalcopyrite/pyrite test heap. Methods were developed to enrich and isolate microbes that thrive in low pH environments and utilise iron and/or sulfur as sources of energy. Screening of these isolates revealed diverse substrate utilization (sulfur, ferrous ion, chalcopyrite, pyrite, glucose) as well as growth at temperatures between 30 - 50¦C. When native isolates were employed, shake flask leaching tests of chalcopyrite concentrate resulted in higher copper yields in comparison to laboratory reference strains Acidithiobacillus ferrooxidans (DSM 583) and Sulfobacillus thermosulfidooxidans (DSM 9293). After 700 hours several native isolates had leached between 20 - 30 per cent more copper than laboratory reference strains during experiments conducted at 45¦C. This research has established a unique culture collection of mining microbes that readily adapt to Australian conditions. Exploitation of these microbes may result in improved leaching kinetics and copper recovery from Australian chalcopyrite ores as demonstrated from shake flask leaching tests. Whilst this research provides a capability for Australian mineral sulfide ores, this technology can be easily adapted to suit ores of any origin resulting in more effective and efficient microbial leaching.

Jan 1, 2004

By K Paki, K Parker, J F. Dupont

The Mount Charlotte grinding circuit at KCGMÆs Fimiston mill was recently equipped with three 650 mm CAVEX cyclones in order to improve the overflow P80, reduce the fines bypass to the underflow and improve the underflow density/recovery of water to the overflow. After the first two sets of surveys were conducted air core boosters (ACBs) were installed on the 650 mm CAVEX cyclones in an attempt to further increase their performance. JKTech was approached to assist with the examination of the data obtained from the surveys; this data was intensively modelled to determine, to a high degree of confidence, the impact the changes to the cyclones had on the classification and the benefits to the plant. This paper outlines the outcomes of the trial and the methods used to determine those outcomes.

Jan 1, 2007

Although giant strides have been made in the Australian mineral industry over the past quarter of a century in terms of mineral discoveries, self-sufficiency of commodities, contributions to exports and other aspects, there are unhealthy signs emerging which require attention. For instance there are 20 out of 34 discoveries of base metals, uranium and nickel which for a number of reasons await development. Some of the reasons for the standstill in the mineral industry are partly economic, partly due to competing land use, uncertainty in applying or, recognising the principle of crown ownership of minerals, and to some extent lack of appreciation of two closely related exploration activities referred to as development exploration and assessment Exploration.

Jan 1, 1979

A real Dorothy Dix title has been selec- ted for this paper. It has the advantage, however, of being capable of being interpreted in many different ways and hence I can select my own approach. You probably are thinking that this topic would be more appropriately handled by an Accountant. I wish to make it clear at the outset that I am not skilled in the sometimes mysterious ways of Accountants - likewise that profession frequently has difficulty in pinning down economists. We have our own strange ideas about profits, marginal efficiencies, cost/benefit analysis etc. What follows is in the main a mixture of two disciplines, probably in a form that few of the purists from either side would accept. Nor do I expect the reader to accept my own prejudices. The paper is designed to stimulate thought and discussion'on the subject. Emotive words such as "profit" and "loss" make for wide differences of opinion. At the time of writing there is a surprising degree of acceptance of the viewpoint that profits in Australia are too low and one is tempted to make this point of near agreement a starting Point.

Jan 1, 1975

By E du Plessis, J Kapusta, J L. Mauk

The world-class Bulyanhulu gold deposit (375 t Au) is in the Sukumaland greenstone belt, Northwestern Tanzania. The main mineralised quartz vein structure, termed Reef one, occurs at the contact of felsic metavolcanic rocks on the hanging wall and mafic metavolcanic rocks on the footwall. Reef one is dominated by massive quartz together with pyrite, pyrrhotite and minor chalcopyrite. Alteration in the footwall basalt is characterised by extensive chloritisation, calcification and silicification, which is strongest near the vein. Sericitisation also locally occurs adjacent to the vein. Metamorphic hornblende and plagioclase (albite) increase in abundance at a distance of 120 m from the vein and reflect the gradation into less altered rocks. The increasing abundance of chlorite, calcite, quartz and local sericite near Reef one, coupled by replacement textures suggests that most of these footwall minerals are the product of hydrothermal alteration, rather than regional metamorphism. Geochemical data shows slight enrichment in Ca, Fe and As towards the vein, whereas Zn in several drill holes becomes enriched away from Reef one. The Bulyanhulu gold deposit is a quartz-pyrite-chalcopyrite shear controlled vein with an adjacent extensive chlorite-quartz-calcite hydrothermal alteration zone (and a limited local sericite alteration zone) that passes to a hornblende-albite metamorphic assemblage further into the footwall.

Jan 1, 2002

The paper studies the flotation process of native Rare Earth minerals such as: bastnasite, monazite, mixed minerals of bastnasite and monazite, respectively, using the new effective collector - H205 which has been developed by Baotou Research Institute of Rare Earth, and describes their flotation properties. The test results of different ore samples show that at moderate pulp pH values, Rare Earth minerals can be effectively separated from barium and calcium bearing intergrowth minerals (barite and calcite) and high quality Rare Earth concentrates can be successfully obtained by H205 as collector with water glass as depressant. In order to determine optimum technical conditions, the effect of pulp pH, pulp temperature, pulp density and reagent dosage on the flotation were investigated in the test. Simultaneously, the paper explores the mechanism of the flotation separation of Rare Earth minerals from intergrowth minerals. The infrared spectra for H205 and RE cations by theorical analysis shows that H205 formed chelate complex with RE cations and adsorbed on the surfaces of RE minerals. The mechanism of the intergrowth minerals depressed by water glass can be explained as: H2Si03, HSi03 and gummy SiO2 hydrolised from water glass are selectively adsorbed on the gangue minerals, making them hydrophilic and depressed, under pulp pH value 8.5 to 9.5.

Jan 1, 1993

By Manzoori AR

From a detailed combustion testing program and earlier experience with Leigh Creek coal, the Electricity Trust of South Australia (ETSA) gained a wide insight into the use of low rank coal fired boiler plant. This work is fundamental for the selection of boiler design parameters and other details which in turn determine the correct coal deposit selection for future power station development. In addition it gives boiler designers a good indication of the measures required to give reliable plant operation. Extrapolation from experience with existing plant, the designers main source of information, was not considered appropriate because of the lack of experience with similar coals. Brown coal beneficiation is also being assessed by ETSA in an attempt to improve the coal quality by the pretreatment of the raw coal prior to combustion in future coal.fired boilers. ETSA is also involved in the development of circulating fluid bed and gasification processes to determine whether these alternative processes are a more viable method of utilising the South Australian coals than pulverised fuel firing.

Jan 1, 1987

This paper compares and evaluates the impact of income tax and value-added tax on the decision to explore for minerals or to develop a mine in four countries: Australia, Papua New Guinea, Argentina and Indonesia. Three aspects are considered in depth:- domestic tax rules applicable to mining projects;- taxation of foreign mining investment and foreign providers of expertise;- taxation of project finance (other than equity) from foreign sources.Specific tax issues discussed include tax deductibility of various costs, treatment of tax losses, special tax incentives, comparative treatment of various corporate structures, non-resident withholding taxes, and tax costs of various forms of project finance. The paper also illustrates the comparative impact of income tax on rates of return by means of a simulation of a mining project in each of the four countries. The simulation demonstrates why the highest rate of return may be obtained in Argentina and the lowest in Australia.Relevant features of the income tax systems in each country (at 15 February 1990) are summarized and compared in several tables annexed to the naner.

Jan 1, 1990

One of the strategies introduced within Pasminco Mining to survive low commodity prices is to formally implement a `Quality Education System'. The net result has been a consistent approach to quality within and across mine sites. This `quality system' has been adopted in the technical computing environment and the immediate benefits have been: ò A clearer understanding of the systems, processes and relationships that involve technical computing. ò A re-focussing on customer (user) requirements. ò Inclusion of managers as customers with their own requirements of performance and quality, in addition to access to Executive Information. ò New ways to measure the `performance' of a technical computing environment which includes using maintenance costs. Observations are that there is an overlap between `traditional' information technology (IT) methodologies and quality systems being put in place in the broader workplace. This overlap is most apparent in the area of analysing customer requirements. In the IT environment customers are viewed as users, and their requirements determined by undertaking a requirements analysis. A data flow diagram traditionally used in the IT environment and not as a tool in quality systems, has been used in a novel manner to help identify the customers of the technical computing department. It has also been useful in illustrating the work processes and relationships between the entities in this diagram and in directing the future initiatives needed to fulfil the customers' changing requirements.

Jan 1, 1995

A very sensitive high-speed two-colour pyrometer was built to measure the temperature of single particles of sulphide mineral, typi- cally 50 pm in diameter, as they burnt while entrained in a hot gas stream. The pyrometer has been used to study the burning of pyrite and chalcopyrite particles and has thrown light on cenosphere formation. Measured maxi- mum temperatures have been compared with values predicted by diffusion-based models. The pyrometer has also been used to study the burning of small captive pellets (2-9 mmm dia- meter) of lead-zinc concentrate.

Jan 1, 1984