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The Johnny Mercer lyrics 'You've got to accentuate the positive, Eliminate the negative, Latch on to the affirmative à' would best sum up the traditional approach to community relations in the mining industry. This '90s 'Public Relations spin' approach, usually backed up by scientific data, technical reports and graphs outlining risk probability and the impact potential on people and communities, is being challenged. Challenged by communities who have greater access to information, demand greater levels of transparency and corporate responsibility of large corporate operations and possess greater awareness of the communities they live in.   The growth of the environmental movement, of anti-globalisation, anti corporatism, apprehension of a large corporate's ability to deal with community issues, and a lack of faith in the abilities of regulators to regulate corporate activities, means our industry faces challenges on multiple fronts. It must now be able to address these from a personal/community perspective if it is to remain relevant within communities.   One of the keys to this is linking the internal activities and responsibilities to the externals concerns and demands for higher levels of operation and care.   This presentation draws on Corporate Public Affairs trends, functions and approaches and the application to External Affairs activities within Newmont Waihi Gold's operations in Waihi and regional exploration activities throughout the Hauraki Goldfields.   The approach presented works on the philosophy that communities don't necessarily have to like what we do, but should be able to identify and recognise the way in which we involve them in decision making, communicate our intentions and respond to issues.

Jun 1, 2010

It is a great honour to be privileged to address The Institute for a second time as President and I appreciate it more than I can say. Eight years ago in Hobart I tried to cover the development of the mineral industry in Tasmania. That was a general subject. Tonight I want to be more specific - I propose to talk to you about rutile.The choice of subject for a Presidential Address is never easy. One is addressing an informed audience and the best one can do is to try to crystallize a particular subject and to present it in a form that willbe of interest to those who listen.I looked carefully at the addresses given by our Presidents over the past seven or eight years. The titles are impressive, the content excellent, and the length, as published, much greater than I had hoped.It is therefore with some trepidation that I have chosen as a subject one only of the three crystal forms of titanium dioxide. This subject is not as limited as may at first appear.There are two aspects with which I can deal - the mineral itself, which has become familiar as the major product of the East Coast beach sand operations, and the lesser-known "synthetic" product, which is the major pigment in almost all the white paints in common use today, and in cosmetics and white-walled tyres and toothpaste, and even the better types of fine papers. The synthetic form of rutile is' the "whitest"of white pigments.

Jan 1, 1966

By A B. Christie, R L. Brathwaite, A Swain

This study provides quantitative data on vein distributions within seven selected epithermal systems, four deposits hosted predominantly in rhyolitic rocks: Ohui, Wharekirauponga, Neavesville and Komata, and three major deposits mainly hosted in andesite: Martha Hill, Golden Cross and Karangahake. The technique of fractal analysis was used to help quantify vein distribution patterns. The fractal dimensions (D) obtained are related to the number of veins per metre, the degree of vein clustering, and vein thickness. An increase in any of these tends to increase the fractal dimension.   It is the relative relationship of these parameters that is important for the characterisation of vein distributions, and the comparison of different deposits. Within the same systems, the rhyolites are characterised by lower vein thickness and vein density, but have a higher degree of vein clustering compared to the andesites. Sections that are deeper and more centrally located within the epithermal system and/or close to major structures tend to have a greater degree of vein clustering, higher average vein thickness and density, and higher thickness to density ratios. This depth control is most pronounced in epithermal gold-silver systems because they have formed at shallow crustal levels where physico-chemical conditions change drastically both vertically and laterally. In addition to lithological and structural control at vein scale, deposit scale structure is of great importance in the deposition of economic mineralisation. Large open vein structures capable of sustaining high fluxes of hydrothermal fluid, favourable for the formation of large, high-grade gold deposits, are best developed in andesite sequences.

Jan 1, 1995

In referring to two subjects of interest to the Members of this Australasian Institute of Mining Engineers, I would at the outset desire to express our gratification that to-day we are able to welcome as now united with ourselves, those members who until recently constituted the New Zealand Institute. It is hoped that the amalgamation so amicably arranged may be productive of the best results to all concerned, incorporated as this combination has been at the moment of the fulfilment of that greater political union, the Australian Commonwealth.Since last Annual Meeting held in Brisbane, we have come under the same roof as the Chamber of Mines of Victoria, and we entertain the hope that as that Chamber and this Institute possess so many interests in common in the encouragement and advancement of mining and metallurgical progress in these colonies, that much mutual benefit will ensue. There are many directions in which each body can assist the other, and I trust that a friendly co-operation will be maintained.It is gratifying to feel that in all the colonies a distinct movement is being made to increase the facilities for education in Mining and Metallurgy but if I may refer to our colony of Victoria in particular, we have to express the profound regret that in the means of education in the higher branches, we occupy an inferior position, and it is quite certain that we will continue to do so unless the Government is prepared to subordinate provincial considerations to the weightier.

Jan 1, 1901

By Greenwood J. N

This is the fourth paper in the series on Australian w,ar materials and the work was undertaken as part of the programme for producing hard carbides. It had been intended to determine the influence of tantalum and columbium' carbides in mixtures with tungsten carbide. Owing to other, urgent developments, it has not been possible to proceed with that programme.1. THE PROCESSING OF A TANTALITE ORE(a) The OreThe minerals in which tantalum and columbium most commonly occur are tantalite and columbite. These two minerals are the end members of an isomorphous series of tantalates and columbates of iron and manganese, but in nature the series grade into each other.Some of the best deposits of tantalum and columbium ores in the world occur in the north-west of Australia. Until recently tantalite low in columbium was the only mine~al in demand but discoveries of extended uses for columbium, e.g., addition of ferro-columbium to high chromium I steels inhibits intergranular corrosion (weld decay), have created a demand for columbite low in tantalum as weB. Both of these types of' ore occur in the Pilbara district in Western Australia and most of the ore mined is exported to America after a preliminary grinding and concentration by gravity.A sample from the Bynoe Harbour locality, west of Darwin, was used in this investigation. It consisted of coarse lumps of tantalite with quartz in minor amounts. Cassiterite w.as also present. A recent investigation!l) gave the analysis as:

Jan 1, 1943

By Misra V. N

Davis tube tests were conducted on a Koolanooka magnetite iron ore sample, supplied by Kingstream Steel Ltd, to determine the optimum grind size, maximum iron recovery and the cleanness of the products from low intensity magnetic separation (LIMS). The ore sample contained 38.6 per cent iron, 37.8 per cent silica, 6.5 per cent magnesia and 0.54 per cent alumina. XRD and microscopic examination showed that the main minerals in the ore were amphibole (42 per cent), magnetite (39 per cent), and quartz (14 per cent). Amphibole, (Mg, Ca, Fe),Si8O22.2(OH), containing 50.3 per cent SiO2, 35 per cent FeO and 11.5 per cent MgO is the main gangue mineral in the ore, and about 30 per cent of the total iron in the ore is contained in the amphibole. Heavy liquid separation tests showed that it is very difficult to separate iron from silica by gravity separation to obtain a high quality iron concentrate. Three grind sizes were initially tested, ie 45, 38 and 20 ¦m. It was found that grinding to 100 per cent -38 ¦m (P80 of 29 ¦m) appeared to be the best option for liberating the magnetite from gangue minerals. The iron recovery to the LIMS magnetic product for the 100 per cent -38 ¦m sample reached 73 per cent and the iron content was 65 per cent. Further test work suggested that the optimum grind size was a Psu of 25 ¦m.

Jan 1, 1999

WHEN reading reports on reefs and lodes, one often comes across the statements "short shoot," "narrow shoot," "wide shoot," & c.From a number of reports in the writer's possession, some by members of the Geological survey, it is plain that the words "short," "narrow," "wide," "long;" &c., are used somewhat carelessly.In one official report on a certain field, for instance, the reefs are described as having "short, rich shoots"; another report on the same field states that "the reefs were characterized by narrow shoots, rich at the surface." Again, Charters Towers is described as having "wide shoots"; another writer says they are "long shoots. "The writer has read again of "short shoots which went down like pipes," and of "narrow shoots of limited extent." No doubt one can make out what is really meant, but the language is mixed. It is apparent that "narrow" is meaning the same as "short," and that the shoot has not much length in a horizontal direction. Nothing is said about the thickness or width of 'said shoot, or its depth. The "wide" shoot is evidently a "long" one; its thickness 01' width and depth is not specified. When we consider these terms, it is seen that only a few words are needed, and that these few should (as they do) have a definite meaning. In the course of his mining experience, the writer has seen shoots of almost all sizes, and some have been very long (in horizontal measurement), and have been followed down for great depths, these shoots being the best type-Charters Towers, Walhalla, &c., are examples.

Jan 1, 1909

By McLennan R. G

Mr. F. Cavanaugh (E.R.S. Co. of Aust. P'ty. Ltd.) ; What is your opinion of the expendable gauze type respirator? Would you give your views on what type of training is most effective to improve the safety consciousness of "new" New Australians?Mr. Lewis: For many jobs, the expendable gauze respirators are quite satisfactory. However, where silica dust of less than 10 micron sizing is present, they Cannot be recommended. Generally, they are more acceptable to the men than the heavier but more efficient types of industrial respirator.The best avenues of approach to training appear to be:(a) Liberal use of vi~ual aids (posters, photos, slides, etc.)(b) Efficient interpreter service.(c) Constant follow-up and check by foreman and fellow workmen.Mr. W.Marsden (B.H.P. Collieries); Most colliery employees only wear masks when they can see dust which, of course, is not the hazardous dust, and they take the mask off when they can't see the dust and so expose themselves to the hazard which is often present.Mr. W. W. SoIIy (S.A. Mines Uranium Treatment Plant) ; Safety equipment as supplied by manufacturers is inefficient and short of safety and common sense requirements-operators don't wear equipment because it is uncomfortable, clumsy, or unsightly. In the case of face masks,* they are not completely, effectively sealed; hard hats should be made even lighter and yet efficiently strong; concerning gloves, it seems not too much to ask of suppliers to put up a durable glove, preferably lined for comfort, with the maximum amount of "feel". Adaptation of, say, tubeless tyre methods...

Jan 1, 1958

Bauxitic laterite of variable thickness and grade is best developed in the Darling Range but covers a large part of the southwest corner of Western Australia. Its limits are defined by the rainfall isohyets to which jarrah forest is confined. Within this broad belt there is an increase in arable land southwards concomitant with a thinning of the laterite layer.Bauxite quality and perhaps thickness as well are dependent on the type of source rock, and are influenced by topography. Economic deposits occur over a vertical range in altitude of about 1200 ft. Some bauxite orebodies appear shoot-like in character, and analogy is suggested with the ore shoots of syngenetic metalliferous deposits.The alumina is in the form of gibbsite enabling low temperature digestion in treatment.INTRODUCTIONAlthough the existence of bauxite in Australia has been known for many years it is only recently that exploitation has commenced of the two most important deposits, strangely at almost diagonally opposite tips of the continent (Fig. 1).Recognition of the importance of the bauxite in the southwest corner came about initially through the efforts of Western Aluminium N.L. which, with some outside financial help, tackled the early exploration with commendable foresight and courage. Subsequent investigations around the periphery of the original reserves (now held by Alcoa of Australia) were undertaken by several companies, including Bauxite Exploration Pty. Ltd.ORIGIN OF BAUXITEThe genesis of bauxite is stilI somewhat controversial.Owing to its common association with kaolin some investigators have been led to believe that it has been derived from the latter; others believe the process has been vice versa.From a recent study of the Arkansas bauxite region in the...

Jan 1, 1964

The history of black coal as a fuel dates back in Europe more than 2,300 years, and possibly longer in China. Originally the mining of coal was done by underprivileged people, but with the industrial revolution and the dawn of mechanisation, the status of the coal miner improved. The improvement continued to the present day. Coal miners now take an important role in industrialised countries and enjoy a high standard of living. The miner is amongst the highest paid and best technologically served in any industrial activity. The abundance of coal relative to alternative fuels and its widespread occurrence, brings with it a prosperity much valued in those countries with significant resources such as Australia. Coal will play a major role in easing the world energy shortage. In addition to the conventional usage, throughout the world coal gasification plants are in various stages of development. Coal liquefaction plants are beyond the drawing board stage. Slurry pipelines to supply coal for direct burning in electric generating and other plants are planned. In the current atmosphere of environment consciousness, Australia has to contend with people with only marginal interest trying to influence coal mining activities to the detriment of the overall prosperity of Australia. Fortunately enlightened legislation is the greatest protector of the environment and in many instances great improvement to the environment ensues after mining has passed. With its vast resources of black coal Australia can look forward to a significant role in future supply of fuel. As a result of the trade and industry involved, Australia can become an even more influential country in world politics, trade, and the setting of high living standards.

Jan 1, 1975

By Kavetsy A

In surface mining operations, the ease with which a muckpile may be dug is a dominant factor in mining efficiency. Within broad limits this is largely independent of the fragment size dis- tribution, since the equipment used to move the broken rock is generally larger than in underground mines. In such cases, muck- pile shape and voids ratio within a muckpile heavily influence mine productivity. In a particular operation, the muckpile shape after blasting should be tailored to the digging equipment being used. A front- end loader is best suited to a low, flat-lying, loose muckpile, because of its fairly good mobility and small break-out force with its bucket. In contrast, a rope shovel lacks mobility, generates a much larger break-out force with its bucket, and fills its bucket in a vertical filling motion. Therefore, it is ideally suited to well fragmented, steep faces. In situations where a dragline is used, the requirement for a suitable muckpile depends on the operat- ing scheme of the dragline. For a conventional highwall key method the preferred work- ing level of the dragline is the same as the highwall, so that the dragline may sit over its key. In this situation, the ideal muck- pile shape involves relatively little displacement of the fragmented rock, with a minimal "power trough" at the back of the blast. In throw blasting, on the other hand, it is desirable to cast as much of the spoil as possible across the pit. It is then necessary to optimize the blast design by maximizing the throw percentage under any necessary constraints (e.g. damage, vibration, flyrock, explosive cost).

Jan 1, 1988

By M A. Gontalves, A F. D C Varajpo, S A. Stachissini

Clays from the Santa Elena Peninsula, south-east of the Ecuador coast, were investigated with a view to identifying their main mineralogical, physical, chemical and textural characteristics as well as their potential for industrial use as adsorbents. Identified as calcic bentonites, two representative samples from the Tosagua Formation (Oligocene to Lower Miocene) were selected for acid activation trials. The selection criterion was based on the greatest amount of clay fraction (<2 ¦m fraction) associated with the greatest content of montmorillonite. For the activation treatments, HCl and H2SO4 solutions of 4, 6 and 8 N were used in a stirred glass reaction vessel with the clay sample under reflux during four hours at temperatures of 70¦C for HCl and 85¦C for H2SO4. Mineralogical analysis by X-ray diffraction (XRD), chemical analysis by X-ray fluorescence (XRF), differential and gravimetric thermal analysis and measures of density, surface area and porosity indicated the changes occurred in the crystal structure of the montmorillonite. The acid treated clays were utilised in trials of purification and decolourisation of soybean vegetable oil in a ratio of 2:100 (clay/oil) at 90¦C for 30 min, under constant stirring. After centrifugation of the suspension, the wavelength of the bleached oil was measured by UV-visible spectrophotometer and the bleaching capacity of the clays was determined. The best bleaching capacity of the samples was obtained with 6 N H2SO4 acid-activated clays. The bleaching capacity was compared to Tonsil, a commercial acid-activated clay and similar results between them evidenced the potential industrial application of the Ecuadorian clays to bleaching of vegetable oil.

Jan 1, 2008

Solid Energy New Zealand Limited (æSolid EnergyÆ) is a state-owned coal mining company, producing 4.0 Mtpa from a number of opencast and underground mines in the Huntly, West Coast and Southland regions in New Zealand. The company currently exports 2.1 Mtpa of coking coal. Exports are expected to grow strongly over the next five year as the company expands production into new semi-soft and thermal coal reserves. Domestic coal demand is also expected to grow strongly, particularly in the North Island, as the Maui gas field reserves diminish, and thermal coal becomes more important for electricity generation and meeting the energy needs of forest processing and other industries. Solid Energy is expanding and developing its risk management practices across all areas of the business: strategic planning û extensive use of scenario analysis and probabilistic modelling over a 20 year period; investment decisions û development and application of a rigorous six stage æProject Assessment GuidelineÆ process for all new mine developments; geological and geotechnical risk assessment techniques û use of best practice techniques including seismic surveys; financial risk management û a dynamic approach to hedging based on effects based analysis of Cash Flow at Risk analysis against preset risk tolerances; risk financing û the use of a captive insurance subsidiary, and the experiences of a small coal company seeking to obtain insurance cover on a æhardÆ international insurance market; and integrated risk management û the challenges of trying to implement a broad integrated risk management approach across the company, that supports implementation of strategic objectives as well as meeting æcompliance or legislative basedÆ risk management requirements.

Jan 1, 2003

Comminution of solids is surely one of the oldest technologies which even in this day and age of DNAs, chips and space exploration continues to challenge our scientific acumen and engineering ingenuity. In essence, this challenge is two-fold. One, as much as three to four per cent of all electric power generated world-wide is consumed in crushing and grinding primarily because the utilisation of energy is woefully poor. Studies have shown that the efficiency of mechanical size reduction processes is of the order of 1.5 to 12 per cent only (Schoenert 1986). Two, with the grinding technologies available to us, we have, at best, inadequate and, at worst, almost negligible control over the shape of the comminuted particles, size dispersion of the ground mass, and the sharpness of mineral liberation. Low energy efficiency and lack of control in the sense mentioned above have far-reaching implications for resource conservation, performance of down stream unit operations, and damage to the environment. Our problem is in fact central to the mineral-energy resources triangle shown in Figure 1 which depicts the close interrelationships among mineral resources which are becoming poorer in content and more complex in mineralogy each day, energy resources which are depleting rapidly without any viable alternate on the horizon, and environmental concerns which can no longer be ignored. It is evident that any improvement in the efficiency of the comminution process impacts directly on the control of environmental damage, conservation of energy and the economics of the operation. These concerns have special relevance for the processing of non-ferrous ores.

Jan 1, 1992

By Moyes A. J

The Intec Copper Process uses a strong chloride electrolyte at atmospheric pressure and 80 - 85¦C to produce high purity, 99.99 per cent copper granules and elemental sulphur. A recent, exhaustive study by an independent, major Australian corporation has shown the capital cost of an Inter plant to be approximately half that of a copper smelter at the 200 000 tpa capacity level and approximately half the operating and capital cost at the 50 000 tpa level. The Inter process costs were also shown to be greatly superior to the best available leach/SX/electrowin technology. The process utilises a multi-stage counter current leach at 80 - 85¦C with the addition of air at atmospheric pressure to precipitate iron as a goethite type compound, followed by a two-stage purification process separating impurities in metallic- and other forms. Purified cuprous chloride/sodium chloride solution is fed to an electrolytic diaphragm cell where high purity copper granules are produced at current densities of 1000 - 1500 A/m2 withoutthe need for conventional electrode stripping. Power consumption is approximately half that of the cupric route. The product is suitable for the direct powder metallurgical conversion of the granules to products such as wire or strip. All the steps in the 'furnace free' conversion of copper mineral to product have been demonstrated The process can treat low grade and contaminated concentrates without penalty, thereby offering greater returns to the miner. Lead, zinc and silver may be recovered as metals, with the high oxidation potential of the electrolyte allowing extraction of gold at high efficiency. The gold is selectively precipitated on activated carbon with negligible copper and silver contamination.

Jan 1, 1992

By Cameron A

In recent years there have been significant developments in the tech- nology available for blast monitoring, analysis and simulation. Progress in these areas has been achieved through research conducted by explo- sives manufacturers and independent research groups from universities and mining companies. Miners are increasingly keen to exploit this tech- nology to help them design blasts which make optimum use of explo- sives to produce easily excavated muckpiles for the minimum possible cost. The art of blast design in the future will increasingly depend on an adequate understanding of the nature of the rock mass, the perfor- mance of explosives and the characteristics required of the muckpile to suit the chosen excavation machinery. Despite recent advances in blast simulation and the prediction of blasting performance, the best way to determine how a particular explosive will function relative to other explosives is to conduct properly designed and monitored field trials. This paper discusses recent work at Mount Thorley Colliery which demonstrates that field blasting trials can be monitored and analysed to provide quantitative data on the relative performance of bulk explosives. Techniques used in the trials included the sampling and analysis of explo- sives, insitu measurement of VOD, monitoring of near and far field vibra- tions, high speed and still photography and survey measurement of muckpiles. These techniques provided data for the analysis of throw, swell, fragmentation and burden movement together with data on the consistency and robustness of different explosive products. The blasting trials allowed both the shock and heave energy of various explosives to be observed in the field and led to the derivation of design rules for the use of differ- ent explosives at the mine.

Jan 1, 1988

Using normal low pressure filtration methods for the dewatering of fine china clays, the best that can be achieved is cakes with about 30% moisture. In order to get the moisture levels down to acceptable levels the traditional method used is thermal drying, which is both costly and dust creating. It was to improve this process that ECC International embarked upon a programme of development of filtration equipment using high pressure to achieve significantly lower moisture levels. This development work investigated several design philosophies and culminated in the production of two quite different solutions. The High Pressure Plate Press uses round plates / chambers of one metre diameter and a filtration pressure of 70 bar. This press is fully automatic and produces a surface dry cake that has sufficient plasticity for the further processing that is required on specific qualities of china clay. The TUBE PRESS on the other hand uses a unique design configuration and operates at a filtration pressure of 100 or 140 bar, depending upon the model. The TUBE PRESS produces a brittle, surface dry cake that is easy to handle and a filtrate that is usually crystal clear. The TUBE PRESS achieves a much higher degree of separation than is possible with conventional equipment, which is particularly important if the filtrate is the product. Over the past 15 years plants incorporating both HP Plate Presses and TUBE PRESSES have been installed in the china clay operations of ECC International and are giving excellent trouble free service. The TUBE PRESS has also proved to be extremely versatile, effectively dewatering a wide range of fine particled slurries, in a number of diverse industries.

Jan 1, 1989

The design and operating characteristics of the hydraulic cyclone elutriator were described in detail by Kelsall and McAdam (1963), and the method of operation of the commercially available version, the Cyclosizer, is described in the manufacturer's pamphlet (Anon). Complete details of the operating procedure are given in the relevant operating manual (Anon, 1964).The cyclones which form the basis of the Cyclosizer (Fig. 1) under normal operating conditions produce typical cut sizes of 44, 33, 23, 15, and 10 µm for cyclones one to five respectively for material with a specific gravity of 2·7. At the end of the selected elutriation period each sized fraction is discharged and collected for subsequent assay or analysis but all material rejected by the fifth cyclone (e.g. minus 10 \lm quartz) normally passes to waste. When this material is needed for separate study, although its amount and average analyses can be calculated by difference, it may be necessary to collect more than 250 I. of very dilute suspension, flocculate the solids, allow to settle, and decant off the supernatant liquid.This procedure is cumbersome and inconvenient and the simple technique to be described may offer some advantages. The temperature of the water fed to the Cyclosizer is maintained at a constant value for added reproducibility.PROCEDUREThe present overall treatment of the subsieve material (minus 37 \lm) fed to the Cyclosizer incorporated several refinements compared with normal operation and these may be best illustrated by anactual example. Material to be cyclosized (25 to 100 g depending on size distributIOn and specific gravity) is completely dispersed in water at 23 QC by vigorous stirrmg, using suitable dispersants if necessary, in a...

Jan 1, 1974

By N Fullelove

The Renison Bell Tin Mine on the West Coast of Tasmania has recently installed a new underground ore handling system incorporating underground crushing, conveying and hoisting facilities. Contracts for the sinking of the shaft and the development of the mine were let and managed by the operator, Renison Limited. Hardcastle & Richards was responsible for the design, procurement and construction management of the fixed plant and equipment including civil, structural, mechanical, electrical and instrumentation services. The system demonstrates worldÆs best practice in design and incorporates a state-of-the-art integrated control system allowing the entire system to be controlled by a single operator located in the underground crusher chamber. A rapid construction period was achieved, despite the difficult and constrained underground environment, without affecting the ongoing operations of the mine. The mine, which was established in the mid-1960s, had previously operated by trucking ore to the surface via a decline. Truck haulage distances and costs had increased as the mine became deeper over the years. By the 1990s it had become apparent that, in order to remain economically viable, it was necessary to reduce truck haulage distances and allow the mine to go still deeper to access orebodies such as Rendeep beneath the current workings. The Internal Shaft System achieved this by eliminating approximately 5 km of truck haulage. It allows the production rate to be increased to up to 1 Mtpa compared with a limit of 628 kt per annum by direct truck haulage to surface. The access it provides to the Rendeep ore and other deep orebodies greatly increases the amount of ore which can be economically mined.

Jan 1, 1998

By Blain CF

For all mineral resource-based companies, it is important to reach the right balance of investment between acquisition and exploration to allow the best chance of achieving long-term corporate goals. The Broken Hill Proprietary Company Limited (BHP) provides an excellent example of success from generative exploration and supports the belief that exploration can be justified, not only in terms of investment criteria, but also because it is essential to a company wishing to build a dynamic profitable growth path based on world-class deposits as cheaply as possible. BHP was incorporated in 1885 to mine a lead/zinc/silver discovery at Broken Hill. The Company has since gone through a steel development phase (1911-1965) and is now in a major phase of growth partly based on exploration success. This third phase was marked by decisions taken in the 1950's to search actively for mineral and energy resources above and beyond the requirements of the steel industry. The commercial successes of this period have been Bass Strait oil and gas, Groote Eylandt manganese, Deepdale iron ore, Gregory coal and Carnilya East nickel. In total at least 22 new resource discoveries have been made in the last 25 years, of which 11 have been developed and several are undergoing feasibility studies. A financial analysis shows that the real value of the returns seeded by discovery covers the real exploration cost many times over. Moreover, the major discoveries have had a spectacular impact on the growth and development of the Company. BHP's present exploration effort is directed towards geological targets which most frequently meet attractive financial criteria and also promote diversification from steel-related earnings.

Jan 1, 1986