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By A L. Welsh, P S. Newling

Mill operators are entrusted to manage what are normally the largest capital assets on any mine site. Achieving maximum utilisation and lowest costs that drive operating margins are realised by applying well known fundamentals of good housekeeping and proactive (as opposed to reactive) maintenance programmes. Historically, maintenance and operations staff are bought in late during the construction stage and often do not have the time, know how or tools to put in place (let alone train the incumbent staff) a functioning maintenance system before commissioning starts. They then get drawn into a reactive maintenance paradigm as teething problems post commissioning are dealt with and day to day issues envelop the line tradesmen and supervisors. Additionally, even when some semblance of a planned maintenance system is established, it is often the case that over time personnel and cultural issues mask the development of problematic maintenance practices. As has been observed by the authors on many occasions, even when some basic programmed maintenance system is in place, the collection of maintenance data is often inaccurate, incomplete and not subject to analysis. The net result is of course a high incidence of machine failure leading to lower than expected availability, which ultimately translates to lower revenue and higher net maintenance costs. The time taken and the cost to repair a failed machine is always greater than the timely and planned repair of a worn machine.Upon review of a number of processing plants around the world, especially gold and small base metal operations, it is apparent that companies need to implement maintenance systems whereby the operators are not overwhelmed with data and can manage by exception. Inadequate or inaccurate data collection and analysis result in poor decisions being made and misguided actions taken. GR Engineering Services (GRES) has developed a system to enable the custodians of mining plant assets to make more effective and effective use of maintenance data by being able to focus on the indicators of plant deterioration and to programme concurrent maintenance activities to maximise plant availability and utilisation.This paper outlines the structures that can be employed to address the challenges of implementing a proactive asset management system. The best practice strategies described herein have been based on the fundamentals of a sound asset management framework:a phased approach to the development of Asset Management methodology and processeseffective implementation of programmed maintenance routinesmanaging asset condition data collected from various sourcesefficient analysis of asset data and management by exceptioninterfacing asset management data with Computerised Maintenance Management System (CMMS) and Electronic Management Systems (EMS) systemstips to assist with maximising asset performance.CITATION:Welsh, A L and Newling, P S, 2015. Operating strategies for custodians of company assets creating wealth, in Proceedings MetPlant 2015, pp 338–352 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Sep 7, 2015

Reconnaissance geochemical exploration in the vicinity of low angle detachment faults which bound the core of the Paparoa metamorphic core complex yielded Au up to 14 ppm, with 35% of greywacke, granitoid and quartz vein samples in the northern range exceeding the 0.01 ppm detection limit. Au is associated with Ag, As, Sb and Cu anomalies consistent with epithermal-type mineralisation. The Ag and Cu anomalies also distinguish this mineralisation from older, mesothermal Au deposits widespread in the Ordovician 'slate belt' greywackes, which comprise much of the upper plate of the core complex. Baryte, molybdenite, fluorite and stratiform U mineralisation in the northernPaparoa Range may also be related to hydrothermal activity along the detachment fault zones.

Jan 1, 1995

By Peeler P. K

The recent renewal of interest in hydrometallurgical routes for copper production has been brought about by the possible future reliance on mixed ores and lower grade deposits, environmental aspects, and energy considerations.A number of hydrometallurgical processes for the recovery of copper have recently been proposed. Flowsheets are developed for two processes which incorporate several treatment methods being experimentally studied in Australia.In the first process a cupric chloride leach is followed by electrowinning whilst the second is based on the formation of cuprous ions, stabuized by acetonitrile and subsequent disproportionation to cupric ions and metallic copper. For the purpose of comparison, flowsheets were also developed for the Arbiter and Cymet processes.Process economics are estimated for the four processes and the results are discussed in relation to competitive pyrometallurgy. None of the four hydrometallurgical processes, with possible exception of the Cymet process, appears to be competitive with established large scale and newly developed pyrometallurgical processes for chalcopyrite.However, because the economics of the individual hydrometallurgical processes depend strongly on specific conditions, a "tailored" process may be competitive with pyrometallurgy in particular circumstances.

Jan 1, 1977

The Bayswater seam of the Singleton Coal Measures is discussed in relation to its field occurrence and related li~hotype profiles. The seam is correlated throughout widely separated areas of the Hunter Valley with the Farrells Creek seam at Howick, Broke seam at Broke, and Saddlers Creek seam at Mt. Arthur. The unusual features of composition of the seam in relation to adjacent seams is dealt with in terms of the seam environment, particular attention being given to the sandstone at the base of .the seam. Petrographic and other data are used to support the arguments submitted.

Jan 1, 1973

By D Yan, D Connelly

Beneficiation of magnetite is an integral part of the future of iron ore processing. Historically, the focus of Western Australian producers has been on exporting direct shipping ore (DSO) namely haematite. The future for new DSO resources is limited so companies are changing their emphasis into processing the very large, undeveloped magnetite ores in Western Australia (WA), using beneficiation to produce shippable magnetite concentrates. These magnetite resources require higher cost processing techniques such as fine grinding and beneficiation to produce saleable concentrates. This distinct difference, from the DSO ores, has led to the development of a number of new technologies. This paper reviews: the different techniques used for magnetite beneficiation and provides some case studies in the WA industry; the use of mineral liberation analysis (MLA) to describe the nature, grain size, occurrence and associations of the mineralisation;the consideration of coarse cobbing as a critical upgrading; the application of high pressure grinding rolls (HPGR) to save energy; how the field of magnetic separation has resulted in new machines with higher field strength (SLon Separators); ultra fine grinding requirements of magnetite concentrates; andthe application of reverse flotation to reduce silica in the concentrates.

Jan 1, 2009

The oxidation of ferrous sulphate to ferric sulphate with air and oxygen in a gas lift percolator was investigated with initial Fe2+ concentrations in the range 0·01 M to 1·0 M,temperatures in the range 20-80°C, and pH in the range oto 2.The rate of formation of Fe3+ was found to be well described by the rate expressionEquation 1and a consistent mechanism is proposed.The presence of Cu2+ was found to cause an increased rate of oxidation, the effect being greater with Cu2+ concentrations increasing in the range 0·001 M - 0·01 M in 0·2 M Fe2+. The effect of other solutes containing Ni, Zn, Mn, Co, Hg, Cl, Mo, NH4, As, Cr, or Na at a concentration of 0·001 M in 0·2 M Fe2+ was negligible.

Jan 1, 1972

By Bujtor G. J, McMahon D. W

This guide to the understanding of ore reserve estimation is the revised version of a report with a similar title circulated within the CRA Limited (CRA) group of companies in mid-1980. It is the principal result to date of an Ore Reserve Study commissioned by CRA in late 1977.This guide to the understanding of ore reserve estimationis the revised version of a report with a similar titlecirculated within the CRA Limited (CRA) group ofcompanies in mid-1980. It is the principal result to dateof an Ore Reserve Study commissioned by CRA in late1977.The study was prompted by two ore reserve situations.The Zinc Corporation and New Broken Hill Consolidated,Broken Hill, had reached the point of havingto find a replacement 'for their traditional ore reserveprocedure and Mary Kathleen had to admit publicly thatore reserve predictions would not be realized. Thesewere not however the only problems to be looked at. Asmentioned more fully later, other ore reserve situationswere known, or were met during the study, in copper,gold and nickel as well, where poor realization: expectationratios had ranged from embarrassing to disastrous.These made it clear that ore reserve estimation had to belooked at afresh.The fresh look has resulted in a broadening of theconcept of ore reserve estimation from its traditionalpurely computational basis to an approach embracingall the many things that can affect expectation andrealization as essential factors. Hence this guiderepresents a gathering together of what has been learnedand what should be known to all those concerned withore reserves in any of its diverse aspects.The study has been marked"by a number of changesof thinking. At first the aspects that appeared to requireattention were two; recognition that an ore reserve statementwas an estimate, not a precise calculation; and asearch for im improved estimation procedure adapted tolow grade ores with narrow economic margins. Threeyears later the view was that the need was to incorporateinto ore reserve estimation all relevant aspects of theproposed mining operation from choice of a samplingmethod to sales contract specifications.This study is thought to be unique in being frankabout weaknesses in ore reserve estimation and intreating failures not as natural disasters (like drought orflood, which have to be endured) but as potentiallyavoidable. It has led to three principal conclusions.

Jan 1, 1982

Of the world's total production of gold the largest proportion comes from the more regularly consistent ore bodies, but in the aggregate an important part comes from those which are often irregular, uncertain and small. These smaller ore bodies are often high in grade and, as the capital required to work them is not large, they appeal to people seeking a quick and profitable return for a small outlay.These small mining concerns cannot afford detailed geological and petrological investigations and mapping, so they are very often dependent on local knowledge and experience which admittedly may be of really great value.Nevertheless the absence of skilled guidance may not only cause good opportunities for intelligent exploration to be lost, but discourage the seach for other ore bodies.lVIining engineers in the course of their travels in the examination of mines often come across such cases and also others where problems of finding lost ore bodies have been solved by the man on the spot. As records of cases are valuable and useful additions to the knowledge of ore occurrences, the writer now proposes to describe one such case coming under his observation in recent years.It is that of a small mine, known as the Idaho, at the southern end of the famous "Golden Mile" at Kalgoorlie (see Fig. 1). This mine has been a small and very erratic producer ever since it was abandoned by an English company which owned it forty years ago. Except for one period of four years it has always been owned and worked by parties of co-operative miners and during its time has gone through a tortuous career. Although it has often...

Jan 1, 1938

This paper deals chiefly with the preliminary examination, when a decision has to be made as to whether a prospect has a chance of developing into a mine or not. At this stage it is important to have a fairly clear conception of what is expected of the prospect, andjust what type of mine is sought. Much money can be wasted testing a prospect suitable for a prospector or small syndicate, but which never looked like becoming a mine of sufficient size to interest a company. When undertaking an inspection, therefore, it is necessary to have a broad outline, at least, of the policy of the principals for whom the report is intended.At this early stage it is frequently necessary to form an opinion of the prospects of a property on very meagre data. When new to this type of work one's first reaction is often th~t it is impossible to pass an opinion on the data available. It. is absolutely necessary,however, that an opinion of the possibilities and chances of favourable development be given; The report should strive to convey this information, making quite ::lear the risk involved, how complete are the data on which this opinion is based, and the possible magnitude of the prize. A Preliminary report has to state whether a property has sufficient prospects to warrant testing.The following procedure is suggested in order to make best use of the data and minimise hasty conclusions influenced by preconceived ideas-an ever-present danger.Examination.The first stage is the examination. This should aim at collecting all available significant data, but avoid clouding the issue with detail which, at this stage, will not affect the decision. The following points are considered to be the main ones for which to look:-Geological Environment.As good a working knowledge as possible'of the geology of the area should be obtained. Government Geological Survey reports and maps, if available, will be a big help. A detailed knowledge of the regional geology is not necessary a,t this stage, but a broad outline of the geological setting of the prospect under review, and also of any other important mines in the district, is often helpful in the final decision.The Nature of the Ore-Body.Any facts concerning the nature or occurrence of the lode should be noted as, coupled with experience of similar bodies, they affect the ultimate decision.Structural Control.This is probably the most important factor, in the light of present geological knowledge. Its chief importance is due to two facts:-(a) Structure plays one of the prime parts in ore deposition.(b) Geological knowledge, of structure is somewhat in advance of knowledge of other factors influencing ore deposition.

Jan 1, 1950

In 1984/85 financial year Australia produced 529 thousand barrels per day (kbd) of crude oil. By far the major contribution (453 kbd) was light waxy oil from offshore Gippsland, Victoria. When these discoveries were made in the latter 1960s, imported oil was available in abundant supply and at low prices. Because of this, the Gippsland producers persuaded Government to control the marketing and pricing of their crude, and thus provide the required security of offtake. Political events in the middle East created supply shortages during the 1970s, and dragged up government selling prices for OPEC crude oil. Thus Arab Light crude that sold for less than US$2/barrel (bl) in 1970 reached $34/bl in 1981. Following the consequent decline in world oil demand, in 1982, Australian refiners sought to evade their obligation to lift Gippsland crude. Hence, in 1983, the Government was forced to introduce a floor quota of 385 kbd of Gippsland crude liftings and to allow producers to export any additional production refiners did not require. On expiry of the old arrangements, Government introduced a partial free market from January 1985, whereby the balance in excess of 350 kbd may be sold to Australian refiners at negotiated prices, or exported as before. In 1984/85 exports were some 90 kbd and will be higher in the current year. About half this total has been exported by BHP, providing valuable experience and lessons which are described in the paper.

Jan 1, 1986

By Greaves M. C

X-ray fluorescence spectroscopy used for the analysis of mill samples results in improved control of flotation concentrators.Techniques and equipment for sampling pulp streams, filtration and drying, grinding, briquetting and X-ray fluorescence analysis of samples have been developed.The current methods in use permit the analysis for lead and zinc in six pulp samples within 30 min total elapsed from the start of sampling. The X-ray method gives a precision at least equal to the former routine wet-way assay methods.The equipment is used also for pilot plant control, as a means of solving complicated analytical problems and in the rapid qualitative analysis of exploration samples.INTRODUCTIONIn milling and concentrating operations, classical methods for the assay of lead and zinc have been mainly of use for accounting purposes and for the post-mortem examination of plant operations, but have been of little value for rapid mill control. Where attempts have been made to apply these methods to control assaying, it has been necessary to modify the procedures and introduce short cuts which have tended to reduce their reliability.Even with these shortened procedures, the time taken to obtain a limited amount of information rendered them of little value for the control of milling operations where sudden, large fluctuations can occur. In recent years, a number of new and rapid analytical techniques, based on physical rather than chemical principles, have been introduced.These include direct reading emission spectroscopy, x-ray fluorescence spectroscopy and atomic absorptionspectroscopy.

Jan 1, 1964

When I was first asked to give a paper on work-life balance in the mining industry I was both excited and aware of the incongruity of my position. I have never worked in mining operations nor have I had any experience that approximates the on-site lifestyle. IÆm not really an adventurer or a traveller, I prefer writing and research to hands-on activities and IÆve never worked further than twenty minutes away from home. The perspective I offer is thus largely an objective one. I say largely since I grew up in a family where my parents work arrangements involved long-distance commuting; my dad continues to work FIFO at a coalmine in Blackwater until this day. Perhaps my tortoise-like existence is a rebellion against his flighty movements. The analysis I will be presenting today draws together a variety of sources, from member anecdotes and research on FIFO and work-life balance to the popular philosophy writings of a bald Englishman with a French name. I am speaking of the famous writer, Alain de Botton, whose television show æThe Consolations of PhilosophyÆ you may have seen on the ABC. Work-life balance is a term that gets a lot of mileage in corporate brochures and at breakfast seminars. But like many terms that get bandied around in the human resources circuit, from æteam synergyÆ to æperformance optimisationÆ, I am frequently perplexed as to what it actually means. Corporate websites are at pains to emphasise the high priority that they place on the needs of the whole person. Yet in terms of substantive content, a commitment to work-life balance often seems to translate into little more than the option to take a few morning yoga classes in exchange for working a seventy-hour week. As extended work hours have taken their toll, leading to high attrition of professionals across all industries, employers are increasingly expending resources to discover just what lies behind this buzz word. The challenge for companies is to find meaningful strategies to help employees better integrate different aspects of their lives in a new era of work, as employees are sending the message that they are not willing to play work, social life and leisure off against each other in a zero sum game.

Jan 1, 2005

The rocks of Waihi and the surrounding district are almost entirely rhyolitic and ande5itic in character. Sedimentary rocks, with the exception of some surface deposits of clay loosely compacted conglomerate, etc., and one or two thin and broken beds of a very poor lignite, occasionally changed by igneous agencies into a bituminous coal, are almost absent. In the shafts sunk by the Waihi and Grand Junction companies outside the outcropping andesitic area of the Martha Hill, more than one old surface or lake bottom has been passed through. At these points layers of sand, consolidated volcanic mud and tuff, accompanied by numerous broken fragments of imperfectly silicified wood have been enccuntered, but these occurrences may, for the purpose of this paper, be neglected.The youngest rock of the district are rhyolites, probably of Pliocene age. At least three distinct classes of rhyolitic lava, each possessing features of unusual interest, may be made out. None of these, however, is gold-bearing. The youngest flow, a light-coloured, fine-grained rock, is remarkable owing to its enclosing at times fragments of carbonised wood, varying in size from mere specks up to quite large pieces of almost pure charcoal. Rhyolitic tuff is also met with. The rhyolites cover a large extent of nearly flat country east, south, and west of Waibi, here and there rising into barren, stony hills.Below the rhyolites, geologically speaking, but for the most part. forming hills which bound the rhyolitic plain, or rise out of it as isolated patches, come ahdesites of older...

Jan 1, 1902

By S Winter, G Klenowski

During longwall mining in the Bowen Basin, open tension cracks formed by overburden subsidence occur to a height of about 175 m above the mining horizon. Within this zone, water in aquifers or inundated workings will flow into the mine.At the Oaky Creek mines Aquila seam, open cut pits containing pit water overlie German Creek seam longwall panels at a height of about 105 m. The highly saline water is classified as contaminated and cannot be discharged off-site. Because alternative water storage facilities were not available, innovative water management solutions were needed to allow longwall mining to proceed without underground flooding.Computer modelling and underground inflow measurements have been completed to accurately determine inflow rates into longwall mines from overlying water sources at increasing overburden heights. Research work has also included determining cost-effective blanket treatment of final voids and reshaping spoil piles to minimise downward seepage.Ponded water overlying the Aquila low, Grasstree south and A6 pits required remedial works prior to longwall undermining to prevent flooding. In the Aquila low pit it was necessary to partition the pit and remove water overlying longwall 32. Two in-pit bridges were constructed by dozing and track compacting low wall spoil. The final void above the longwall panel was kept dry during undermining. Maximum recorded underground inflow rate was 30.0 L/s.The Grasstree south pit final void, part of the ramp and much of the spoil piles were inundated prior to undermining of 308 panel. A bridge and blanket were required to prevent ponding above the longwall. Maximum recorded inflow during undermining was 23.2 L/s.The pit A6 south final void, which contained dumped, saturated rejects and inundated highwall mining entries was undermined by longwall 36 at the Oaky No 1 underground mine. Because mapping of highwall entries was not available, the maximum calculated inflow rate of 73.0 L/s was based on all design entries being fully inundated. The actual inflow rate during longwall mining ranged up to 20.0 L/s.Water management improvements that have been implemented include greater use of contaminated pit water to wash coal, use of evaporation fans, and installation of a 6 ML/day reverse osmosis plant for water purification.CITATION:Klenowski, G and Winter, S, 2017. Inflows into longwall mines from inundated overlying workings, in Proceedings 13th AusIMM Underground Operators’ Conference 2017, pp 183–190 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Oct 16, 2017

In presenting this paper the author has in view a twofold purpose. In the first place, it is intended to set forth for the benefit of practical mining men some account of the principles underlying the design of tungsten carbide rock bits in the hope that a knowledge of these principles will assist in the successful application of the bits to mine and quarry drilling. Secondly, by evoking discussion, and even controversy, it is hoped that manufacturers and users of these rock bits will be encouraged to contribute to the general knowledge of a subject which to date has been rather lacking in published literature. The author well appreciates that many of the conclusions drawn in this paper are highly controversial, but if the only result is to call forth contradictory testimony from other workers in this field, at least one of his purposes will have been achieved.An attempt will first be made to set forth and examine those characteristics which go to make up an efficient rock bit, and the main factors affecting these characteristics will be discussed. In a paper of this general nature, consideration of any particular aspect must necessarily be rather brief, and there is little opportunity for detailed presentation of test procedures and data. Thus, it has been found advisable' to confine discussion of some minor points to a simple statement of fact. However, an attempt has been made to support all major conclusions by reference...

Jan 1, 1950

By H Arvidson, A Walker, N Pollock

Following the recent tailings tragedy in Brumadinho, the Investor Mining and Tailings Safety Initiative was formed representing institutional investors in the mining industry. This Initiative, led by The Church of England (CoE), requested data from 726 mining companies on each of their Tailings Storage Facilities (TSFs). What this exercise confirmed was that there was no public database of TSFs, and that there was a clear gap in tailings management systems within the disclosing companies. We present an approach using technology to support best practice TSF management, governance and disclosure which was originally submitted as part of University of Cambridge Post-graduate studies in Sustainability Leadership in January 2020. The aim of the paper is to discuss how technology could be used to deliver a Tailings Management Solution (TMS) that is aligned with the Global Industry Standard on Tailings Management (GISTM), and supports rigorous governance leading to disclosure. Subsequently the goals of the plan are aligned with that of the co-conveners of the GISTM (the International Council on Mining and Metals (ICMM), Principles for Responsible Investment (PRI) and United Nations Environment Program (UNEP)) which is to facilitate operators’ trajectory towards zero harm to people and the environment. Most of the focus to date around tailings management post Brumadinho has been on monitoring technologies, of which there are many. It is obviously important to acknowledge the critical role of monitoring technologies; however, our approach is agnostic to monitoring technologies and assumes that all of them are relevant. Our focus is on the data management, reporting and governance leading to disclosure of the information. Critical components of developing the TMS include adapting existing software products and solutions, recognising a system thinking approach is needed, strategic partnerships to deliver an accessible solution faster and more cost effectively, and, new ways of collaborating. The TMS should also accommodate relevant regional geotechnical codes and standards. The industry need for a TMS is well established and urgent, with significant pressure from regulators and civil society for the industry to address this significant issue.

Jul 1, 2021

This paper presents the near-field rock damage owing to production blasting in limestone quarry in the western region of Japan. The study's purpose is to learn the mechanism of crack development due to blast vibration. In this study, blast vibration's magnitude was expressed with peak particle velocity (PPV) which was obtained based on seismographs recorded database. In attempt to pursue a research's purpose of this study, there were two considerable interests: near-field blast vibration propagation and prediction, and crack observed and prediction. Furthermore, with regards to considerable interest of the study, there were three essential aspects which were challenged, such as: monitoring and interpretation of seismic wave propagation in a rock mass near large explosive charge of production blast scale, measurement of blast rock damage in adjacent to blasthole, and determine critical value of PPV which may produce significant rock damage. In order to determine precision critical PPV, understanding correlation between rock damage with vibration level is firstly important to be done. This paper also discusses how to measure, detect and quantify near-field blast vibration and blast rock damage in adjacent to blasthole.

Dec 6, 2010

Large GDP increases in the Pacific Rim countries have been accompanied by similarly large increases in demand for oil products. In the case of residual fuels, this demand has been tempered by the substitution of other energy products such as coal or gas. In the region's developing and newly industrialised nations, it has not been possible to make the very large investments in infrastructure which allow other energy sources to be used for transportation. As a result, GDP growth has been mirrored in the demand growth for automotive fuels. Other non-substitutable products such as lubricants have also benefitted by the region's GDP growth.   The combination of a number of years of sustained growth, coupled with increasing quality requirements is now stretching the upgrading capacity of the region's refineries. IT, as seems likely, the region continues to enjoy a high GDP growth rate, then this will be accompanied by increasing reliance on finished products coming out of the Middle East.   The owners of the most simple form of refinery in which crude is simply distilled and the naphtha reformed into petrol will face major capital investments. If they decide not to bear this cost, they will face increasing problems in selling their surplus residual fuel oil at an economic price. Quality will become an increasingly important issue. Not only in the well publicised areas such as unleaded petrol, but also for products such as lubricants which play a major role in the efficiency of modem equipment. Quality of service such as hours of opening, ease of access, and service station facilities will also become increasingly important as the oil companies use these to attract customers and gain brand differentiation.

Jan 1, 1990

By C Roche, G M. Mudd

The Morobe Province of central Papua New Guinea (PNG) has been mined for gold for nearly a century, although it is only in the past decade that large-scale modern mining commenced. The Hidden Valley gold-silver project began construction in mid-2006 and production by August 2009, and is located in the mountains above Wau in the headwaters of the Watut River. The mine is owned and operated by the Morobe Mining Joint Venture (MMJV), which also owns the Wafi-Golpu project, comprising the Wafi gold deposit and Golpu copper-gold deposit, situated in the Watut River Valley. Together they represent a potential mine of the scale of Ok Tedi or Bougainville or bigger. The MMJV is owned in equal shares by Newcrest Mining from Australia and Harmony Gold from South Africa. Although Hidden Valley was the first large-scale mine in PNG to engineer and build a tailings storage facility, poor environmental management during construction and early operations led to significant erosion of waste rock and sedimentation impacts throughout the ~200 km length of the Watut River. Since then, substantial efforts have been made to improve environmental management, especially waste rock placement and storage and water quality management. While the impacts from the Hidden Valley project appear to be reducing, the saga has heightened concerns by many along the Watut River and across PNG about ongoing impacts from mining.This paper presents the results of an ongoing project in the Morobe Province conducted by the Mineral Policy Institute examining the historical, current and future impacts of mining, including community views, social and environmental impacts and the monitoring and regulation of mining. Overall, there is a clear need to more fully integrate social and environmental issues into life-of-mine planning and go above and beyond regulatory requirements. In this way, some of the lessons learnt – by the community, MMJV and government – can be incorporated before, during and long after mining.CITATION:Mudd, G M and Roche, C, ?2014. Mining in Morobe, Papua New Guinea – impacts, assurance and self-determination, in Proceedings Life-of-Mine 2014 , pp 313–336 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Jul 16, 2014

By A A. Ndiaye, A Galli

In a companion paper on current hedging practices in the mining industry (Armstrong et al, 2009) we showed that contrary to popular belief, mining groups are still using financial derivatives to hedge against foreign exchange risk and interest rate risk, and more recently against adverse changes in energy prices, notably the oil price. This paper presents a case study on a hypothetical gold mine to illustrate the impact that hedging policies could have on its profitability by reducing the downside risk due to adverse changes in the exchange rate and increases in fuel prices. The characteristics of the hypothetical mine have been set to reproduce those of a real gold deposit, the Kisladag mine that is currently being exploited by open pit methods in Turkey. This mine was selected because its feasibility study was available to the public. Geostatistical simulations are used to reproduce the inherent uncertainty on the recoverable reserves û stochastic simulations are used to generate the variability of the other three key sources of uncertainty: the gold price, the cost of energy and the exchange rate. A simple strategy based on straightforward vanilla options (puts and calls) was developed for hedging the last two risks, on the assumption that the company sells its production at the prevailing spot price.

Jan 1, 2009