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By D Schwab, R M. Tosdal

The Quesnell-Stikine arcs, in the Canadian Cordillera, are host to Triassic and Early Jurassic alkalic porphyry Cu-Au and calc-alkalic porphyry Cu-(Mo-Au) deposits formed outboard of ancestralNorth America in island-arc tectonic settings (McMillan, 1991). The majority of the alkalic porphyry Cu-Au deposits are products of a discrete magmatic event at the end of the Triassic, with a second and smaller event in the Early Jurassic (Mortensen, Ghosh and Ferri, 1995). Of the Triassic complexes, the Galore Creek alkalic intrusive suite is one of the largest and most silica-undersaturated intrusive complexes, and host to the most significant undeveloped alkalic porphyry Cu-Au resource in North America (Lang, Stanley and Thompson, 1995). Because of the common presence of feldspathoidal-bearing rocks in the complex (Enns et al, 1995), Galore Creek likely represents an end member example of the alkalic porphyry Cu-Au class. The Galore Creek alkalic Cu-Au-Ag porphyry district, located in NW British Columbia (Canada), contains 12 mineralised prospects (Enns et al, 1995; Micko et al, 2007; Schwab et al, in press) with a total measured and indicated resources of 785.7 Mt at 0.52 per cent Cu, 0.29 g/t Au and 4.87 g/t Ag (NovaGold Resources Inc, February, 2008). The Central Zone is the largest and best delineated. Other economically important mineralised centres include the South-West, Bountiful, West Fork and Junction deposits. The South-West Zone, the focus of this contribution, is a Cu-Au-Ag breccia-centred deposit with a measured and indicated resource of 69 Mt grading 0.42 per cent Cu, 0.69 g/t Au, 2.67 g/t Ag. Hosted in brecciated intrusive rocks, the South-West Zone is distinctly younger than the Central Zone and most of the other mineralised centres (Enns et al, 1995; Schwab et al, in press). The South-West Zone therefore preserves the late stages of hydrothermal evolution at Galore Creek. An EXTENDED ABSTRACT is available for download. A full-length paper was not prepared for this presentation.

Jan 1, 2008

By R Witt, M Lowing

Tanking of tunnels is now often specified when inflows exceed as little as 1 L/s/km with a unit distance of 100 m. To demonstrate inflows over a 100 m segment of a tunnel are less than 0.1 L/s with a standard error of 0.01 L/s by timed, gravity filled, volume measurement up and downstream of the segment, the measuring cylinder volume (L) must exceed 10 Q, where Q is the flow in L/s, and the number measurements taken and averaged must exceed 20 . If a standard error of 0.02 L/s is acceptable then 5Q2 measurements must be taken and averaged. If gravity filling is not possible then the number, n, of repeat pumped container measurement required is given by: where: is the 100 m section leakage is the volume filling time is the standard error of volume measurementZ is the standard normal variateK is a coefficient dependent on physical measurement conditions Based on analysis of field data an indicative coefficient of variation of volume measurement is ~0.05.

Jan 1, 2008

By B Goebel, G Baker

The Australian Magnesium Corporation Limited (AMC) is constructing the worldÆs largest magnesium metal plant at Stanwell, 24 km west of Rockhampton in Central Queensland. The $1.3 billion, 97 000 tonne per year plant is scheduled to commence production in mid-2004. It will produce magnesium from magnesite using the innovative, locally developed AM Process Technology which enables magnesium to be produced at internationally competitive costs. The technology will enable the plant to have the lowest environmental impact of all the available magnesium production processes. The project will meet current world-best-practice environmental and emission standards while on a life cycle analysis, magnesium produced by the Stanwell plant will result in net reduction in global greenhouse gas emissions. Magnesium is the lightest of the structural metals. Its high strength to weight ratio and ease of casting and machinability makes it particularly suitable for the manufacture of light weight automotive components. Reducing the weight of motor vehicles through the use of light weight materials such as magnesium is the current primary means adopted by the automobile manufacturing industry to improve motor vehicle fuel efficiency and the lowering of emissions of greenhouse gases. The Australian Magnesium or AM process has been developed over the past decade by AMC in conjunction with the CSIRO to produce magnesium from magnesite mined at AMCÆs Kunwarara deposit. Over $200 million has been spent developing the AM process, designing, building and operating a demonstration plant at Gladstone and to complete an environmental impact statement and receive environmental approvals as well as funding for the commercial Stanwell Project. The paper outlines the development of the AM process technology, the operations of the Gladstone demonstration plant confirming the process technology, its operating costs and environmental performance. The paper covers the particular attention that was given to minimising the production of CHCÆs, the development of new cover gases for molten magnesium, the minimising of emissions of greenhouse gases and the life cycle analysis of magnesium as a replacement for steel and heavier metals in motor vehicles which confirmed its use resulted in a net reduction in global greenhouse gas emissions. The project received both Commonwealth and Queensland Government environmental approvals by August 2000.

Jan 1, 2002

By Seymour D

The disagregation and privatisation of the mining and power gene ration operations of the former State Electricity Commission of Victoria has being taking place over the past five years. This has transformed the service provision to the new organisations and has resulted in major change to the working lives and professional relationships of thousands of Australians. The authors wish to take this opportunity to explore the issues arising as the program of privatisation of public assets continues. Changes within the workplace which resulted from the outsourcing of the 'investigation and design' functions and more lately as a result of privatisation of the operating, generating and distribution businesses are discussed. The responsibility of managers retaining the services of design engineers has changed. There is an added responsibility of contract administration and an increased focus on intellectual property and strategic issues. The way in which the sectors are adapting is discussed and future directions are explored. We welcome this opportunity to explore the changes in professional life which have taken place over the last five years in the Latrobe Valley Power industry. Engineers and earth scientists have a pivotal role in the continuing successful operation of the three Latrobe Valley Mines of the generation companies. The Mines' collectively excavate annually over 13 million cubic metres of overburden and 48 million tonnes of coal for delivery to mine-mouth power stations and for briquette manufacture.

Jan 1, 1997

By S Furman, M Caccetta, A Hacket, B McDonald, M A. Wells, D Lau

In 2004, the Western Australian Department of Industry and ResourcesÆ Burrup Rock Art Management Committee commissioned a number of independent scientific studies to evaluate the condition of rock art in the Burrup Peninsula near Karratha (Western Australia). These studies are evaluating the physico-chemical aspects of the effect of environmental modification on the visible appearance of the rock art. Because of the cultural significance of the sites, the research approach has been to employ non-destructive testing strategies and work in the field has progressed with respect for the importance of the area. This paper only reports the spectral mineralogy monitoring at each of the sites to evaluate whether changes in mineralogy are observed on rock surfaces. Reflectance spectroscopy is a non-destructive, in situ materials characterisation technique that provides information about the mineralogy. The minerals detected include haematite, kaolinite, chlorite, goethite, gibbsite and manganese oxides. Current results indicate that the surface mineralogy of the rock art has not changed in the last four years.

Jan 1, 2008

By M I. Pownceby, N Karimian, A Frierdich

These may be found with goethite through mechanisms including direct substitution or coprecipitation of nanocrystalline phases. Understanding P incorporation in goethite has significant implications for Australia’s iron ore industry as it lowers their commodity value. The current study tests a novel low-temperature technique to extract P impurities from synthetic goethite phases under O2-free ambient conditions by utilising Fe(II)-catalysed recrystallisation. The objective of this study was to examine the effect of the Fe(II)-catalysed recrystallisation of goethite on the geochemical behaviour (mobility and speciation) of co-associated P. To achieve this, we tracked changes in labile P (aqueous and 1M NaOH extractable) concentrations over time in goethite suspensions which were reacted with Fe(II)aq for 14 days under circumneutral pH conditions and room temperature conditions. Temporal changes in Fe mineralogy were investigated via synchrotron-based X-ray absorption spectroscopy. Iron K-edge extended X-ray absorption fine structure (EXAFS) spectroscopy confirmed goethite as the only mineral phase in P-free treatments while goethite (~86 per cent) and feroxyhyte (~14 per cent) were the main phases in 1.0 per cent P-containing treatments after a 14- day reaction with Fe(II)aq. According to our findings, the treatment of P-goethite with Fe(II) for a duration of 7–14 days, followed by a 24-hour extraction of the reacted solids using 1M NaOH, results in the removal of approximately 79.5 per cent of the initial P content. This removal encompasses both the aqueous fraction (~4.5 per cent) and the surface adsorbed fraction (~75 per cent) from the 1 per cent P-bearing mineral phase. Notably, this approach demonstrates an improvement in P extractability, with approximately a 10 per cent increase compared to the 1 per cent P-goethite sample that was not reacted with Fe(II).

Sep 18, 2023

By R Lloyd

Coal Services (Health and Safety Trust) funded ARRB Transport Research Ltd to investigate fatigue and performance of truck drivers over consecutive shifts. The main questions were to assess: What is the most important contributor to acute fatigue in mining? Is it length of shift (eg eight hours versus 12 hours) or is it time of day (eg circadian effects)? What is the limit of successive day or night shifts before chronic fatigue affects operator performance in open cut mines? The project methodology included utilising ARRB Fatigue Monitoring Devices (forced-choice stimulus reaction) in eight haul trucks, testing 24 subjects over several weeks. Each subject filled in a Fatigue Risk Questionnaire on lifestyle and health. Operators worked a 14-night, one day off, 13-day roster of 12-hour shifts in a fly-in/fly-out operation with excellent opportunities for restorative sleep between shifts. A total of 3500 hours of real-time data was collected, representing the first set of objective, real-time driver performance data for Australian mining. The data showed that for a single night of driving haul trucks, there appears to be no effect on operator fatigue from the amount of time on task (for the 12 hours). In fact performance was worse through the first eight hours than the last four. The circadian influence had a stronger affect than working more than eight hours. Of the 14 nights worked at the site, nights 13, 14, seven and two respectively, were the worst. This presents a conundrum for policy makers who may like to place caps on working hours or rosters in the hope that it will alleviate the fatigue issue. It will not. The major finding within this study is the combined influence of circadian rhythms (human body clock) and individual variability on performance. The lifestyle habits and the health of individuals have a profound effect on operator performance as shown by the strong positive correlation between high fatigue risk scores from the Fatigue Risk Questionnaire and poor performance. An individualistic approach would appear to have the best chance of reducing high potential incidents due to fatigue through successive nightshifts.

Jan 1, 2005

By C Aldrich

In this paper, the use of topology preserving projections (Sammon maps) and neural networks are considered as a basis for the construction of multivariate statistical process control charts for a semi-autogenous grinding circuit on a gold plant. Comminution circuits are often operated in a quasi-steady state mode, where the mills tend to move rapidly from one state to another. This makes them difficult to monitor by conventional means designed for continuous steady state processes. As a first step, process data reflecting normal operating conditions are mapped with SammonÆs algorithm. Only one feature is extracted at a time and each mapping is captured by a neural network model to allow online application. Reverse neural network models are used to reconstruct the data prior to the extraction of subsequent features from the data residuals. The ensemble of neural network models can then be used for both fault detection and identification. The approach compared favourable with both linear and non-linear principal component models. It was able to detect two simulated fault conditions both with a reliability of 100 per cent, as opposed to 57.8 per cent and 95.2 per cent detected by an approach based on the use of linear principal component analysis and 84.1 per cent and 98.0 per cent detected by an approach based on non-linear principal components extracted with auto-associative neural networks.

Jan 1, 2007

ecent work on decoppering lead is reviewed; CuS is formed rapidly even from dilute solutions of copper in lead. he mechanism of decoppering is discussed, and an explanation for the retention of metals such as silver in lead is dvanced. As decoppering tin appears to be an analogous process, the Cu-Sn-S system is studied at 300¦C. CuS, hich is not, an equilibrium product, is found in decoppering drosses. In the removal of nickel from lead, Ni3pb2S2 formed; preliminary measurements show the equilibrium nickel content to be greater than that obtained by tirring in sulphur. Decoppering bismuth is thermodynamically favoured, but is complicated by the occurrence of uBiS2. The Cu-Pb-S system is the only one of the four studied where the equilibrium can be calculated simply, as ' resence of ternary sulphide or other phases invalidates calculations based on binary data.

Jan 1, 1970

By Geoff Baldwin

The use of monitors to assess equipment performance is carried out on a routine basis in many industries. The benefits gained through process control in knowing exactly how the equipment is working far outweigh the initial capital costs of the monitor. In the mining industry several dragline monitors have been developed and installed on equipment through out the world, but to date none has been fully accepted by the industry. This paper describes the use of a sophisticated monitoring system which incorporates an onboard processor to assess both dragline and blast performance. The results of a case study are presented and an indication of the potential of the monitoring system to optimise mine production is given.

Jan 1, 1990

The reduction of titanium tetrachloride to trichloride can be achieved by employing hydrogen and electric arcs. It is possible to produce melts containing up to 50% TiCk in the eutectic mixture of LiCl/KCl by striking a D.C. arc at the surface in the presence of hydrogen and TiCl. vapour. If the electrode IS made to just penetrate the surface of the salt mixture, a hot zone results from the' high resistance contact with both lower chlorides and sintered titanium may be produced. The sintered metal forms just below the melt surface while the trichloride forms at the gaslIiquid junction.The "hotspot cathode" appears to offer a solution to the problem of producing coherent deposits as the spong'e metal can 'be continuously withdrawn in a similar manner to the "calcium process".INTRODUCTIONConsiderable interest has been shown for some years in the possible development of a cheap electrolytic process for the extraction of titanium metal, since a method using simple materials and cheap electric power would materially reduce the cost of production. Even when cheap starting materials are used, however, there exist several general difficulties in the operation of plant which both limit the speed of production and increase the cost of the product. It happens that most of the techniques so far tried produce a powder as cathodic deposit, and when this is the case the following difficulties arise:1. The whole contents of the bath must be treated with solvent in order to extract the 'metal powder which may itself tend to oxidise, and thus become contaminated.2. Fine metal powders, which often contain residual entrained salts, are less easy to consolidate by arcmelting than metal sponge.

Jan 1, 1956

By Ciminelli VST

Thiourea leaching has been applied to a refractory gold concentrate previously treated by bacterial oxidation. Following the bio-oxidation, gold has been leached in acidic thiourea solutions, under different pH(1 - 2.4), thiourea concentrations (2 - 15 g/1), ferric ion concentrations (0.04 - 3 g/1) and temperatures (298 - 333 K). Through this procedure, it was possible to increase gold extraction from 40 to 77 per cent. The increase in temperature raised gold extraction and reduced reagent consumption. Sodium sulphite addition was also very effective in lowering thiourea consumption. Staged leaching operations with interstage acid washing and carbon-in-leach experiments were tested, in an attempt to increase gold extraction. The results of thiourea leaching were compared with those obtained with cyanidation.

Jan 1, 1993

By Qi P. H

Gold dissolution can be achieved with a number of complexing ligands, all with varying degrees of stability. Processes based on the use of halogens have been known for many years. Beside providing the necessary complex- ing role, the halogens under the appropriate conditions are very effective oxidants for gold. Of the halogens, the gold iodide complexes are the most stable in aqueous solution. Iodine can establish the desired oxidation poten- tial for oxidizing gold, and unlike chlorine and bromine, the oxidizing potential of iodine is mild enough to avoid the oxidation of impurity constituents like metal sulfides. A series of experiments to investigate the fundamental electrochemistry of gold in different halide solutions was performed. Cyclic voltammograms of gold in the presence of 10-2 M chloride, bromide and iodide, respectively show that for a given potential the rate of oxidation is much faster in iodide solution than in either chloride or bromide. An overlay of linear sweep voltammograms for the anodic oxidation of gold in iodide and the cathodic reduction of iodine species on gold provides an effective method for examining the dissolution of gold in iodideftodine solution. The dissolution rates obtained from both electrochemical and actual leaching results are compared. Optimum leaching conditions are analyzed in terms of the iodide/iodine concentrations. Conceptual processes for the recovery of gold and iodide and the regeneration of iodine are discussed.

Jan 1, 1991

Evidence abounds for sea-level change having occurred throughout geological and recent time. Driven by climatic changes, by cycles of glaciation and deglaciations, and by tectonics the position of sea-level relative to the crust has been going up and down since oceans first formed. Rates of these differential movements have been as high as 10 mm/year during the last major deglaciation as sea-level rose by about 150 m in about 15000 years. Tectonic processes can also produce change in sea-level relative to the crust of several mm/year as in, for example, the uplift of the Huon Peninsula in Papua New Guinea. To understand what is happening to sea-level today and what may be happening in the future it is necessary to understand the geological and climatic processes that have caused sea-level to change in the past and the best laboratory for the study of these processes is the geological and geomorphological record. Evidence for observations of sea-level change throughout Late Pleistocene and Holocene time is plentiful in the Australian region. Temporal variability is characterized by a low-stand, at more than 100 m below the present level, at about 20 000-18 000 years ago followed by a rapid rise and transgression of the continental margin up to about 6000 years ago. After this time sea-levels remained within a few metres of their present value but the patterns of change are not everywhere the same. The depth of the low stand at about 18 000 years ago does not appear to have been the same everywhere. Nor does the time at which sea-level first reached its present value appear to have been everywhere the same. The fluctuations about present sea-level during the past 6000 years appear to have been different in different localities. As yet there has not been a wholly satisfactory quantitative explanation for this spatial variability. How much, if any, is indicative of vertical tectonics? How much is the result of the Earth's response to the changing surface loads as mass is exchanged between ice sheets and the oceans? Can any of it be attributed to past changes in global climate? Or are the observations just wrong?

Jan 1, 1990

An Environmental Impact Statement (EIS) for a major mining development typically has to address various aspects of surface water management, including some which generally tend to be the more contentious: the diversion of rivers and creeks from areas disturbed by mining, and their rehabilitation; the effective management of disturbed area run-off via the collection, containment and treatment of contaminated water on site in sedimentation dams; the collection, containment and treatment of mine pit water; the decommissioning of surface water storages; final void water quality; and water discharge criteria. Environmental Impact Assessment processes for proposed mining developments in Australia at the state and commonwealth level usually involve a form of Initial Advice Statement (or Notice of Intent), Terms of Reference, an EIS, and a Supplementary Report (or similar) which responds to agency and public comment on the EIS. The EIS is used by approval agencies to decide the acceptability of the Project, and to set the conditions of approval. The conditions are often in the form of a state-issued æOperational LicenceÆ or similar. With mining, the initial approval at the EIS stage is often just a pre-cursor to various other planning related approvals, including obtaining a mining lease. Afterwards, mine plans and plans of operations must be submitted to government at various stages of the mineÆs life, ostensibly to provide the detailed mine planning over periods of one û five years. Despite all this additional planning and documentation beyond the submission of the EIS, government approval agencies are increasingly not satisfied with conceptual water management designs and commitments to an outcome (such as meeting a specified water quality standard) in the EIS. Agencies are also requiring sufficient water management design information to be convinced that the outcomes are achievable. To assist proponents of major mining developments, the Queensland Government has published Technical Guidelines for water management, and Environment Australia has published a æBest Practice Environmental Management in MiningÆ booklet on water management. In addition, the Australian and New Zealand Environment and Conservation Council (ANZECC. 2000) has published Water Quality Guidelines which provide an approach to water management, and provide receiving water investigation trigger criteria. So, what are the water management issues that are likely to be the subject of comment, debate and negotiation prior to the EIS being approved? and what commitments may a mining proponent have to make in order to convince the approval agencies that sufficient investigation and design has been provided? This paper provides some answers to this question, by reference to recent major mining proposals which the author has managed through state and commonwealth Environmental Impact Assessment processes.

Jan 1, 2003

Erratic, though spatially localised occurrences of gold particles are a common feature of high-nugget gold systems. In many cases, gold is present as isolated or clustered, often coarse particles. The nugget effect is a part consequence of small-scale geologically controlled enrichment, and the inclusion or exclusion of gold particles from samples. Economic zones are generally contained within discrete structurally-controlled ore shoots which are surrounded by, and may include barren to low-grade background material. Problems are often encountered where small sample types (eg drill core and channel samples) of a few kilograms mass understate in situ grade by up to a few orders of magnitude, due to their general inability to represent the true gold particle distribution. This leads to uncertainty in mineral resource estimates. This contribution presents case studies where geologically-based parameters have been collected from drill core and underground faces to support grade determination. These parameters - or proxies - are based on mineralogical and/or geochemical (eg specific elemental ratios, fluid inclusion compositions and elemental correlations) criteria. Such criteria can be correlated with different grade domains to provide an indication of true grade within a geologically-controlled context. Proxies have recently been used to support resource estimates reported in accordance with the JORC Code.

Mar 1, 2010

By A Taheri, G D. Nguyen, M Karakus, S Akdag

During underground mining operations, rock masses are highly subjected to dynamic disturbance caused by blasting, mechanical drilling and earthquakes resulting in strain burst, slabbing and spalling. The dynamic fracture is a significant manifestation of rock failure in deep underground engineering, and it is of great importance to assess the dynamic fracture behaviour of the rock mass under elevated temperature conditions. The correlation between temperature – and loading rate-dependent dynamic fracture mechanism of strain burst is yet to be established. A good understanding of the dynamic fracture behaviour of brittle rock subjected to high-temperature under dynamic loading is required for the prediction of the damage extent during strain burst, and proper design as well as control of the underground rock structures. In this study, dynamic mode I fracture toughness tests are carried out on cracked chevron notched semicircular (CCNSCB) granite specimens to reveal the dynamic fracture characteristics of the brittle rock. For this purpose, a Split Hopkinson Pressure Bar (SHPB) apparatus is utilised to conduct the dynamic tests with various striker velocities on thermally degraded granite. The dynamic mechanical behaviour of granite after high-temperature treatment is examined and discussed. The dynamic fracture toughness is determined and compared for the specimens exposed to different temperatures at various dynamic impacts. The fracturing processes are recorded by a high-speed camera (HSC), and the crack propagation speeds are estimated by HSC image analysis. In addition, the dynamic fracture process and the coupled effects of temperature and loading rate on the dynamic fracture modes are identified by HSC image analysis. Energy partition characteristics in dynamic fracture of granite are quantitatively investigated.

Nov 29, 2022

By T Hausler

The pitfalls, pleasures and management issues associated with international and remote projects are diverse.However, no problem is insurmountable and if an engineering team chooses (by luck or good planning) to push through the difficulties, success can mean an extremely satisfying experience for individuals and a significant, positive result for an organisation.International projects are not for the faint hearted or inflexible. Working in foreign lands with people who may or may not speak English and who may not initially respect you can become mentally and physically tiring.Sometimes the challenges are not fully explained to individuals in advance. Individuals then often learn about the challenges ù and discover solutions ù on the job. While this initially puts great pressure on individuals, matters improve eventually, especially when the locals come to understand that you are on site to make a positive difference.This paper will discuss aspects of a recent international project including meeting international clientsÆ expectations, dealing with cultural differences, social reckoning, environmental issues, and personal challenges. Specifically, it will cover aspects of working within a Russian cultural setting and overcoming social barriers.The paper also presents coping strategies for long periods of time spent away from home in remote places with extremes in weather beyond the normal experience of most Australians. For example, dealing with the effects of the spring thaw and coping with temperature ranges of -45 to +45¦C.Lastly, and possibly most importantly, there will be a focus on the role of translators. They have the power to make an engineer everyoneÆs best friend or, on your behalf, to order cold chicken liver and heart salad for lunch. If an engineering team can establish a working relationship with translators, they can become an invaluable asset and both on and off site.CITATION:Hausler, T, 2013. Achieving success in large-scale, remote area metallurgical plant projects, in Proceedings MetPlant 2013 , pp 539-552 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Jul 15, 2013

One common public perception of mining is that financially it is an extraordinarily risky business. Another and contrary view, in certain circles, is that price risk and other financial risks can be relatively easily removed or shifted by a number of schemes or devices. In reality, beyond the orebody discovery stage, mining need not be any more risky than most heavy industrial businesses. Nevertheless, as stated by Rappaport, (1986): Risk is a parameter of central importance in establishing the economic value of any asset. The level of risk is determined both by the nature of the firm's operations and by the relative proportions of debt and equity used to finance its investments. These two types of risk are commonly referred to as 'business risk' and 'financial risk' respectively. The term financial risk is used somewhat more loosely herein to recognise the reality that any risk inadequately addressed in the design, construction and operation of a mining project can have significant financial consequences; usually negative. For instance, a specific area of business risk in mining is often called technical risk which definitely has severe financial consequences if not managed correctly. The various risk shifting, hedging and risk management tools available all have their place and range from merely useful to almost indispensable. However, in the long-term, financial risks are maintained at acceptable levels by the application of sound, more fundamental business management principles. There are many with a vested interest in perpetuating a perception that the conceptual foundations of sound management practice are extremely complex. In reality, most management concepts are prosaic, but their application requires incredible discipline and hard work. There is no magic formula or 'silver bullet'. It appears that a company whose activities are restricted to mining can analyse the range of risks specific to mine development and operations more clearly than companies in which mining is just one of many businesses. The almost universal failure of large oil companies in the mining business is probably the best example of lack of any clear comprehension of fundamental business characteristics and risks. Conversely, in regard to risk management, choosing to be in other business as well as mining does nothing to reduce the risks of the mining business. The individual shareholder can probably make such 'diversification of portfolio' decisions better than most management teams. It could be argued that diversification across a number of disparate businesses may actually increase overall corporate risk due to lack of management concentration and focus. These differences between the perceptions of financial risks and the realities in mining need to be further elaborated in relation to some uncompromising business concepts.

Jan 1, 1994

By Zhang Y. D, Zhang R. X

A new decision-making approach of artificial neural network system with hierarchic structure is presented. The fundamentals of network topology, node functions and network training are introduced. A neural network system with hierarchic struct

Jan 1, 1998