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Can mining promote sustainable development? What is sustainable development? Is sustainable development good for corporate sustainability? Does it work in practice? If so, is it good for business? This paper does not seek to provide definitive answers to these issues. Rather, it is presented in the interests of sharing information and contributing to the pool of collective experience. The discussion will draw on the experience of Placer Dome in Papua New Guinea (PNG). Sustainable development means development that is maintained at a steady level without exhausting natural resources or causing ecological disturbance. The term æsustainable developmentÆ is often linked to the concept of ecological equilibrium, development that is self-replenishing. While its essential meaning remains the same, in practice, and for todayÆs complex and industrial world, different people will interpret sustainable development in different ways. Given the dynamics of development and the competing social, political and economic interests, sustainable development must be seen from a much broader perspective. This is the point that this paper will attempt to make. Mining, an activity that uses non-renewable resources, can promote sustainable development. The 1987 Brundtland Report (also known as the Report of the World Commission on Environment and Development), defines sustainable development in a broader manner - as development that meets the needs of the present world without compromising the ability of future generations to meet their own needs (Elkington, 1997). This definition calls for inter-generational equity in the development and use of resources by many organisations, including multinational corporations. Corporate sustainability, on the other hand, is about developing strategies that guide a corporation to stay alive and, more importantly, to stay ahead of its competitors. It is basically about survival in a competitive social and commercial environment. In a corporate world, profitability is survival. In this context, corporate profitability, the main ingredient of corporate sustainability, is important for sustainable development. Without profits, corporations will find it difficult to practice sustainable development or indeed any development. Sustainable development can integrate mining activities with the rest of the community, add value and, in the long-term, profits to the bottom-line. Ultimately, sustainability will force corporations to adopt strategies based on a longer time scale to survive. In the mining sector, corporate sustainability depends on a close relationship with all stakeholders, particularly landowners for whom sustainable development is critically important. Increasingly, there is an acceptance of the view that success is not achieved simply through competition in price, cost and technology but, more importantly, through creating social infrastructure which support community ethics, norms and values essential for trust and partnership. Needless to say, mining companies that engage in appropriate community-based development in support of inter-generational justice recognise the true value of sustainability. This is sometimes called the æhuman sustainability approachÆ which underlines the critical significance of trust in relationships with stakeholders and continuous improvement of corporate capabilities directed towards the future (Dunphy and Griffiths, 1998). In the long-term, such development will enhance corporate public image and acceptability. In practice, both concepts can be built on the principles of economic viability, environmental quality and social justice -what, in todayÆs parlance, is increasingly becoming known as the ætriple-bottom-lineÆ approach to business (Elkington, 1997). Underpinning this approach is a process of continuing dialogue and co-operation between governments, non-government organisations (NGOs) and business.

Jan 1, 1999

By D Prior

The Australian mining industry is a significant contributor to the nation’s greenhouse gas (GHG) emissions, and like any industry, it must make efforts to reduce these. Medium- and long-term strategies will include the replacement of diesel engines with alternative energy sources, but what can be done in the short-term to reduce diesel consumption and hence CO2 emissions? Haul trucks are identified as the major contributors of CO2 emissions in the mining fleet and this paper focuses on firstly identifying what drives haul truck emissions and secondly, discussing what is the role of the Fleet Management System (FMS) in reducing these. A key enabler of this is having a robust fuel consumption model within the FMS, and I describe how this may be done. Besides novel approaches to incorporating fuel consumption (CO2) management into truck assignment algorithms, this paper also describes how the FMS can be used to implement and manage procedures and policies to reduce haul truck emissions.

Jun 22, 2022

By Edmonds G. A

The power station went into operation in 1931, when the installed capacity was 12,500 kVA. with a loading of 4,000 kVA. In 1936 the loading increased to 6,750 kVA. which necessitated the addition of a third set which went into operation in 1937, the installed capacity at that date being 18,750 kvA. with a loading of 7,000 kVA. This remained fairly constant until 1945, when a gradual increase was noticed, the loading in 1952 being 10,598 kVA.With the addition of the copper plant, additional generating capacity was required and it was decided to raise the installed capacity by the addition of a fourth set to 34,375 kVA. with an expected loading, when producing copper, of 20,000 kViA.MAIN POWER PLANTThis consists of three GiE.e. alternators of 6,250 kVA. or 5,000 kW. at 0.8 P.F. rating and one G.E.C. alternator of 15,625 kVA. or 12,500 kW. at 0.8 P.F. rating, making a total generating capacity of 34,375 kVA.Each alternator is driven by Fraser and Chalmers turbines at 3,000 r.p.m.SYSTEMThe main 3 phase 3 wire 3,300 volt distribution system has the neutral point of alternators earthed through by one or two earthing resistors designed to limit earth fault current to 3,000 amp. for 20 seconds, in the case of the large machine, and to 1,100 amp. for 10 seconds, in the case of the smaller machines, or full load of either size machine at rated voltage.

Jan 1, 1953

The brown coal deposits of the Latrobe Valley are ideal for open cut mining and this method has been used since the start of coal winning in 1894. Operations at the main Yall9urn open cut commenced in 1922, but after a few years the main excavators were replaced by German continuous excavators and subsequent developments of Yallourn and the newer Morwell open cut have been based on this type of plant. The reasons for preferring continuous to intermittent excavators in the Latrobe Valley are indicated in this paper.Under the pressure of post-war conditions, and from their long experience and ability, German engineers have recently made substantial improvements in their continuous excavators and these developments have been enhanced by some American innovations. These changes have extended the economic limits of open cut mining and also serve to emphasize the close inter-relation between the nature of coal and overburden deposits, excavator design and methods of operation.As an aid to descriRing recent excavator developments, this interdependence is demonstrated by means of diagrams which show typical methods of operations, together with examples of actual machines using these methods. The types of excavator dealt with are mainly those in use at, or destined for Yallourn or Morwell open cuts, together with additional types used in U.S.A. and Western Europe. For completeness, and also because they will continue in service at Yallourn and Morwell for some years, rail-mounted dredgers have been included in this paper even though in Europe they are now regarded as obsolescent.Explanations are given of how the intrinsic qualities of Latrobe Valley brown coal and overburden have sometimes prevented overseas plants from operating with the full efficiencies and/or in the methods visualized by the manufacturer, and references are made to the modifications and investigations being undertaken to overcome these problems.A compresensive bibliography is given. Dates shown on illustrations are not commissioning dates of the plant concerned, but the year when photographed.

Jan 1, 1960

The energy supply in the 21st century is still secured by coal. According to estimates of the International Energy Agency (IEA), coal will have the same importance as oil for the world-wide supply of energy until 2030. Coal is also an important element of EU policy, its future use is closely linked to effectively addressing the environmental challenges it poses. Hard and brown coal represent approximately 80 per cent of European Union (EU) reserves of fossil fuels and coal utilisation can co-exist with the development of power generation based on renewables. Europe is the world's third largest consumer of coal behind China and the United States.The Czech Republic is poor in energy resources except for coal. Brown coal is relatively abundant (mineable reserves estimated at 1800 Mt, output 48 Mt/a) and significant quantities of hard coal (mineable reserves 900 Mt, 13 Mt/a), much of it suitable for coke production, are also present.Severoceske Doly (SD Company), the biggest Czech coal mining company (22 Mt/a, 48.6 per cent Czech market share) and one of the biggest in Europe, reinforces despite the last deep crisis in the Czech and European economies its long-standing stable and strong market and financial position. From 2009, the SD Company co-owns, with partners, a brown-coal mining company MIBRAG (21 Mt/a). SD Company invests in large mining equipment (eg new giant spreaders and bucket-wheel excavators, extension of overland belt conveyors), rebuilds and upgrades mining and processing installations, auxiliary and other machinery. We should see the investment we make today in tomorrow's mining and reclamation as an opportunity and not as a burden. They enable to make our position more resistant in the longer term. Projects focused on the environment and operational safety went hand in hand with these efforts.R&D activities relate to technical innovations, improvements of mining equipment, research and evaluation of conditions for extracting coal seam and/or overburden and mitigation of environmental impacts, utilisation of coal in new products. The company spends considerable amounts on reclaiming affected land and creating a new post-mining landscape.Our dialogue with influential stakeholders in the region where we operate contributes to the long-term improvement in the quality of life of local residents. Such dialogue with communities in the last ten years has been instrumental for confidence building. SD Company helps to develop many projects of towns and villages in its vicinity. The stable and transparent relations with our neighbours are in accordance with our basic principles of corporate social responsibility.

Dec 6, 2010

By D Kepert

It is the role of the exploration geologist to create wealth through the discovery, delineation and characterisation of economic mineralisation. This requires a critical depth of geological understanding.Unfortunately, the resource industry is well known for its cyclic nature. Many of the current generation of workers have only ever experienced the boom of the ‘super-cycle’ and are only just discovering the negative side to the business. For the case of the geologist and especially the exploration geologist, the magnitude of peaks and troughs are usually amplified and may become destructive to all parties. During the uptime a healthy stream of exploration good news becomes the staple diet of company releases, in particular those of junior companies attempting to bolster the share price. The geological knowledge and experience gained thus forms a significant and integral part of the value and therefore, future of a company. On the downturn it is often viewed that geologists are a luxury, an optional extra and a burden on the bottom line with companies entering a period of memory loss and myopia.Retention of geological knowledge however remains critical as projects, companies and cycles mature. Beyond exploration per se, this knowledge becomes both fundamental in de-risking and commercialising an asset (through development or divestment) and in positioning the company for cyclic or counter-cyclic opportunities.The growth and retention of this knowledge base is difficult to quantify in terms of direct value but becomes one of a successful resource companies greatest assets. At worst, its loss can lead to millions of investors’ funds wasted on missed opportunities, drilling, or poorly designed plant and mine.But the rocks are around for the longer haul and pay little notice to the vagaries of the scurrying of Man.This paper reflects on some of the authors own observations through 25 years of iron ore exploration, in why it is critical to always rigorously question the prevailing geological (mis)understanding and the technical and commercial benefits which that may bring, and looks forward to the future.CITATION:Kepert, D, 2015. Geology – the affirmative case, in Proceedings Iron Ore 2015, pp 285–298 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Jul 13, 2015

By D Preedy, J K. Claflin, S R. J La Brooy

This paper summarises the lessons learned during a recent carbon reactivation kiln upgrade project at the Sukari Gold Mine in Egypt. The kiln is being replaced to ensure that the plant achieves full value from the current throughput expansion from 5 to 10 Mt/a.The suitability of the original engineering design criteria for kiln selection and the adequacy of the original kiln are reviewed in the light of the carbon chemistry, operating experience and a site inspection of the kiln. Particular aspects of the reactivation facility are discussed including: predrying, preheating, feeding, gas seals, kiln heat transfer, steam injection, counter-current sweep gas flow, carbon cooling, fines minimisation and removal.Design criteria for a carbon predryer, reactivation kiln and cooler combination for carbon heavily fouled by high molecular weight frothers and collectors are discussed and the abridged Ausenco datasheet for the combination is presented.Responses to a request for a budget price sent to most of the worldÆs suppliers of carbon regeneration kilns are summarised.CITATION:Claflin, J K, La Brooy, S R J and Preedy, D, 2013. Ausenco carbon reactivation design criteria, in Proceedings World Gold 2013 , pp 401-410 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Sep 26, 2013

The development and distribution of gold placers in Otago û Southland is related primarily to the evolution and architecture of three distinctly different drainage networks that developed during and since Gondwana breakup: +        Late-Gondwana û Pre-marine; +        Middle Tertiary Post-marine; and +        Modern. Late Gondwana û Pre-marine drainage was dominantly recti-linear and controlled by normal faults and sedimentary basins formed before or during Gondwana breakup. Placers formed dominantly in 2nd order transverse drainages with primary sources in their catchments. This drainage network was progressively destroyed by inundation and burial by marine strata during Late Cretaceous û Middle Tertiary marine transgression that ultimately covered most of New Zealand. Middle Tertiary Post-marine drainage evolved on and incised the newly emergent low-relief landscape during regional marine regression driven by development of the present plate boundary through South Island. Most of Central Otago was drained into Southland and to the southern coast via a large braided river system with an extensive network of tributaries in its Central Otago reach. East Otago was drained by several smaller systems. Placers formed dominantly in proximal and medial reaches of 1st and 2nd order drainages with primary or pre-existing placers in their catchments. This drainage network was destroyed by inundation and burial of the Central Otago reach of the major system by lacustrine strata following tectonic damning of its middle reach by range uplift and development of a lake complex that covered >5000km2 of Central Otago. The Modern drainage network evolved from the Middle Tertiary network through complex response, firstly to uplift of NW-trending and NE-trending ranges throughout the region since the Late Miocene, and secondly to the effects of major Pleistocene glacial advances in West Otago. Placers formed in alluvial fans at range margins, proximal and medial pre-glacial fluvial systems and glacial outwash sequences. Evolution of each of these drainage networks has been accompanied by widespread sedimentary recycling of alluvial gold from older to younger placers, augmented locally by input of first-cycle gold derived from erosion of primary sources in the repeatedly exhumed basement rocks.

Jan 1, 2006

By Read T. A

PART 1The quantity of dust present and the methods used for suppression of dust in metalliferous mines has, in recent years, received considerable attention from mining engmeers in various parts of the world. Shortly after the publication of the General Report of the Miners' Phthisis Prevention Committee, South Africa, in 1916, the officers of the Broken Hill South Limited started investigations into the conditions of the dustiness of the air in the underground workings. As the methods used are not generally known in Australia, the writers are of the opinion that the present is an opportune time to place them before members of the Institute. A large amount of the subject matter of this paper has been drawn from the 1916 and 1919 reports of the Miners' Phthisis Prevention Committee, South Africa, the paper of Mr. Innes published in "The Chemical, Metallurgical and Mining Society of South Mrica"; also various articles appearing in the Journal of Industrial Hygiene, and the American Journal of Public Health. A great deal of research work into the cause, prevention and estimation of mine dust has been made by the Miners' Phthisis Prevention Committee of South Africa, and officials of the United States Bureau of Mines. The writers considered it advisable to begin the investigation at the South Mine with apparatus and methods developed by the South African Committee.Through the Australian agent of the Cape Explosives Company, inquiries were made preliminary to procuring the necessary apparatus for the determination of dust, from South Africa. The writers then learned that the older gravimetric method used by the Phthisis Prevention Committee was likely to be superseded by the konimeter...

Jan 1, 1922

By S Lakemond, L I. Ku, J Vaughan

Conventional processing of poly-metallic gold containing flotation concentrates are challenging for a number of reasons. One reason is that substantial copper and zinc in the cyanide leach solution compete with gold and silver for carbon adsorption sites. In this study, metal-cyanide adsorption kinetics and equilibrium are measured on three samples of coconut derived activated carbon and one sample of synthetic carbon. Loading selectivity was confirmed to be in the order gold>silver>copper>zinc for all carbon samples. The synthetic carbon tested showed promising results in terms of loading kinetics and capacity for precious metals.CITATION:Lakemond, S, Ku, L I and Vaughan, J, 2013. Effect of carbon type on adsorption of Cu, Zn, Ag and Au from mixed cyanide solution, in Proceedings World Gold 2013 , pp 411-418 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Sep 26, 2013

By D Bertoldi, C Haines

"The Waihi Gold Mine (WGM) operated by OceanaGold New Zealand Limited is a wholly owned subsidiary of the OceanaGold Corporation of Australia. Traditionally WGM has stockpiled and processed separate campaigns of open pit and underground ore. The ore is processed via a conventional semi-autonomous grinding (SAG) / ball circuit (SABC). The low aspect SAG mill operates in a closed circuit with two 20" cyclones, whilst the ball mill is also a closed circuit with a 10" cyclone cluster. A major wall movement in April 2015 ceased open pit operations indefinitely, 18 months ahead of the mining plan. This immediately reduced the forecast mill tonnage leaving two options: begin campaign milling or change the operating strategy and target lower throughput. Additional cost pressures necessitated improved milling cost efficiency. The immediate ore restriction limited processing alternatives to within the existing major infrastructure. Available comminution circuit survey data laid the foundation for developing a comminution model using the JKSimMet™ software package (version 6, created by KJTech). A number of flow sheet variants were then evaluated based on predicted throughput and efficiency. The comminution models suggested opportunities for improved efficiency lay in reducing throughput and increasing utilisation rather than on/off campaign milling under the existing operating philosophy. A series of process alterations followed, delivering new cost efficiencies that maintained the current $/t processing cost. This paper aims to review the change in circuit performance and examine the decisions and challenges faced following the transition from a high tonnage SABC circuit to lower tonnage SABC circuit.Citation:Haines, C and Bertoldi, D, 2016. The Transition from Semi-autogenous to Autogenous Milling at Waihi Gold, in Proceedings 13th AusIMM Mill Operators’ Conference 2016, pp 303–312 (The Australasian Institute of Mining and Metallurgy: Melbourne)."

Oct 10, 2016

By M Watts, P Lindsay

Herbert Stream, a tributary of the Waimangaroa River on the Stockton Plateau, has elevated metal concentrations and low pH characteristic of acid mine drainage (AMD). Dissolved aluminium concentrations average 8.3 ppm, iron 1.4 ppm, manganese 0.69 ppm, and zinc 0.12 ppm and pH ranges from 2.8 to 3.2. Flow rates range from 2.3 to 26.6 L/s with an average of 5.3 L/s. To determine the effectiveness of different treatment strategies, a small amount of the AMD was diverted through three small-scale passive AMD remediation systems over an eight month period. These included a reducing and alkalinity producing system (RAPS), a limestone leaching bed (LLB), and an open limestone channel (OLC). Both the RAPS and the LLB performed well, effectively removing metals and restoring pH. The RAPS lowered aluminium concentrations by up to 99%, iron 97%, manganese 95%, and zinc 80% and the LLB lowered aluminium concentrations by up to 99%, iron 99%, manganese 92%, and zinc 91%. The pH was restored to between 6.4 and 7.4 by the RAPS and to between 7.3 and 7.9 by the LLB. The OLC performed well as long as the residence time was similar to that of the other treatment systems. OLC removal rates for aluminium was up to 99%, iron 94%, and manganese 21%, and the pH was restored up to 5.6. Due to its simplicity and effectiveness, it is proposed the LLB be constructed to fullscale size to treat the entire Herbert Stream.

Jan 1, 2007

By B Nielsen, H Lehto, B Musuku

"The demand for fine and ultra-fine grinding associated with the processing of more challenging, finer grained orebodies and the global driver of minimising energy consumption has been an increased focus in our industry. Outotec’s stirred milling technology, the high intensity grinding mill (HIGmill™), was launched in 2012 in response to this industry need. First Quantum Minerals Ltd selected HIGmill™ technology for its Kevitsa mine in Northern Finland. The 700 kW mill is grinding copper rougher concentrate to improve copper/nickel separation and copper recovery. Selection of the HIGmill™ followed mineralogy analysis and laboratory and pilot testing for HIG milling in parallel with flotation tests to determine optimum grind size and energy input.The paper discusses the challenges and successes of the test work, manufacture, installation, commissioning and subsequent operation of the mill. Grinding performance is presented and a comparison between predicted and operating energy efficiency is made. In addition, the various steps to optimise wear rate and minimise maintenance and downtime are made, with particular reference to internal geometry of the mill.Citation:Nielsen, B, Lehto, H and Musuku, B, 2016. Design, Installation, Commissioning and Operation of Fine Grinding Technology at the Kevitsa Mine, in Proceedings 13th AusIMM Mill Operators’ Conference 2016, pp 59–66 (The Australasian Institute of Mining and Metallurgy: Melbourne)."

Oct 10, 2016

By C Garrido, J Barrera, H Alvarez, L Perez, S Ramirez

In recent years, there has had a greater recurrence of studies and projects that consider tailings filtration followed by dry stacking to reduce the consumption of fresh water, the space required for disposal, and, eventually, to reduce the costs of the project. In addition, this technique could be required to meet new environmental restrictions to extend the life-of-mine of existing plants or to enable the development of new projects, especially in areas of high social interest. This article is intended to describe the most relevant technical aspects of the design and implementation of an iron ore tailings filtering system and its final overland disposal as well as physical and metallurgical surveys, and laboratory and pilot testing. Furthermore, it is presented how these activities are inserted in the project development to rationalise the resources. The case under study considers an iron mineral wet magnetic concentration processing plant. The outcome tailings are dewatered by means of thickeners, where the overflow water is recycled back to the plant. The underflow slurry is pumped into intermediate storage tanks before proceeding with further dewatering and final disposal. The project consists of a tailings filtration plant, belt conveying systems, a temporary stockpiling system, trucking loading and transportation system, moisture-conditioning facilities (spreading and airing), and final disposal facilities (compacting). Due to the stickiness of the filtered tailings that governs the belt conveying system design, the operating moisture range must be established. Besides, proper technical aspects such as planning, executing, and analysing both the laboratory and the pilot testing data to validate process design parameters; selecting filters; defining spare filtering capacity; handling the out-of-range filtrated moisture; sizing the belt conveying system; configuring the equipment involved, must be considered.

Nov 8, 2021

By W T. C Kendall, H D. Ngo

Garden Well is a shear-hosted Archaean orogenic gold deposit located 100 km north of Laverton, Western Australia. The Garden Well processing plant is designed for a nominal 491 t/h milling rate and annual capacity of 4 Mt. The plant has three key innovations:1. a scrubbing circuit, expected to reduce grinding power consumption by up to 20 per cent2. a secondary cycloning/gravity circuit, providing a second opportunity for gravity gold recovery (additionally, the circuit effectively increases the leach residence time of the coarse gold bearing fraction of the leach feed by approximately 60 per cent, without any additional tankage)3. the use of mid-stream oxygenation to enhance gold recovery.The Garden Well deposit is free-milling with overall laboratory gravity/leach gold recoveries exceeding 95 per cent at a P80 grind size of 150 ¦m. Three mineralogical domains have been identified: oxide, transition and fresh, with the fresh domain having subdomains of fresh ultramafic and fresh shale. There is a high component of gravity recoverable gold in all three domains.This paper will discuss these innovations and the design challenges and the risk mitigation strategies that were adopted to ameliorate the prototyping risk. The performance of the plant since commissioning together with lessons for the future will also be presented.CITATION:Smith, R J, Kendall, W T C and Ngo, H D, 2013. Treatment plant innovation at Garden Well, in Proceedings World Gold 2013 , pp 315-324 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Sep 26, 2013

By J Tiihonen, J OÆCallaghan, T Haakana

Outotec is today capable of providing technologies, process equipment and engineering for the construction of pressure oxidation leaching (POX) plants in any location in the world. Outotec works with customers from mine to pure metal, participating in plant design from the process development phase (including test work execution/supervision) to plant commissioning and operations. Either key equipment technology packages with basic engineering or entire POX plants can be supplied.The addition of pressure oxidation equipment to OutotecÆs product portfolio adds to and complements already existing significant experience in general hydrometallurgical process and proprietary equipment design and supply.In addition to providing key pressure vessels, piping and valves to a POX plant, Outotec can offer an enhanced and proven autoclave agitation system that maximises oxygen mass transfer and utilisation. Novel energy and water recovery technology can also be tailored to a customerÆs specific needs. Importantly Outotec owns and operates extensive test work facilities and can provide test work to ensure the optimum POX flow sheet and materials of construction. Outotec ensures that best available technology (BAT) concepts are used in POX design to improve the availability of the process and minimise unpredicted shutdowns.CITATION:Tiihonen, J, Haakana, T and OÆCallaghan, J, 2013. Outotec pressure oxidation - more out of sulfide ore, in Proceedings World Gold 2013 , pp 197-206 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Sep 26, 2013

By T O&apos, Beirne

The paper focuses on explosibility conditions in underground coal mines, the behaviour of explosions from initiating gas ignitions to violent dust explosions and the effectiveness and limits of operation of current designs of passive explosion barriers in suppressing the flame front. Areas of particular emphasis include: passive explosion barriers are not designed to protect personnel in the flame initiation zone and its immediate surroundings; passive dust and water barriers are generally considered ineffective against methane ignitions of the magnitude that can occur at the working face; dispersal of suppressant from passive barriers is adversely influenced by equipment, including conveyor belts, located in the barrier zone; current regulations in Australia do not specify the installation of barriers in all roadways leading to the face, so their use has a limited capacity to contain explosions; a manifest design limitation is that passive barriers are restricted to one operation and are therefore ineffective against repetitive fire gases explosions; and the practice of stone dusting in roadways inbye the barrier zone could conceivably adversely affect the operation of passive barriers. The paper discusses performance evaluations made in full scaleexplosion galleries and the use of alternatives to passive barriers,including the installation of active barriers under some circumstances.

Jan 1, 1997

By L A. Martinez Tipe, J McKibben, S Barry

"Metal prices are central to a mineral investment decision and have a profound impact on the financial performance of companies in the mining industry. At its most basic level, metal prices are influenced by the disequilibrium between international metal volume supply and demand. That is, the commodity price is a regulator that equates international metal supply and demand where inventories act as a buffer between the emergence of this disequilibrium and its dissolution through a price change.From this viewpoint, mining companies are required to forecast metal and bulk commodity prices when evaluating minerals projects through discounted cash flow (DCF) analysis. While supply-demand models are instructive, many companies use historical prices, spot prices, futures/forward pricing and consensus opinion (or a combination of all of these) to develop price forecasts.This paper discusses the definition, fundamentals and differences between futures/forward and consensus pricing and the appropriateness of each in a DCF model for mine project economic evaluation.Our results demonstrate that great care is required when using either futures/forward or consensus pricing and that the decision to use one rather than the other requires consideration of other important elements in the DCF model (ie the risk-adjusted discount rate).CITATION:Martinez Tipe, L A, McKibben, J and Barry, S, 2016. Metal prices and the differences between forward and consensus pricing – which one is better for use in a discounted cash flow model?, in Proceedings Project Evaluation 2016, pp 149–158 (The Australasian Institute of Mining and Metallurgy: Melbourne)."

Mar 8, 2016

For the last 4 years political leaders have found a new subject on which they can safely generalize wihout creating opposition. That sub- ject is commodity prices. Since the four-fold increase in OPEC crude oil prices, public atten- tion has focussed as never before on the subject of commodity prices. To advocate stabilizing com- modity prices is akin to supporting motherhood or peace or better schooling. Everyone gives lip service to the concept that stable commodity prices are desirable. It is easier to state the principle than to achieve it. Prices that are stable in terms of one currency may be clearly unstable in terms of a different currency. This has become a troublesome matter since 1971, when the world's leading trading currencies were set free to float in relation to each other. To illustrate: consider copper prices in the interval between the end of 1974 and the end of 1977. During those 3 years, the copper price in pounds sterling on the London Metal Exchange rose by 25 per cent. During that period, however, in terms of the USA dollar equivalent, the price was unchanged. And during that period, in terms of the German mark equivalent the price shrank by 13 per cent while the Japanese yen equivalent f.11 1k

Jan 1, 1978

By D Maldonado

BlueScope Steel’s Port Kembla sinter machine underwent a major upgrade during mid-2009. The mixing and rolling drum (MRD) was thoroughly cleaned during the upgrade. Space factor measurements taken in October 2009 showed that the drum was operating in the cataract regime in the dry mixing section and the cascading regime in the rolling section, which is optimal for granulation. Sampling carried out during an entry into the MRD showed that both the Sauter mean diameter and the predicted bed voidage increase rapidly during wetting, and then decrease in the wet mixing section. In the rolling section, the granule properties remained constant untilthe drum discharge. Frozen particle analysis, using liquid nitrogen as the quenching agent, were carried out on material collected from the MRD discharge. The results, expressed as a Granulation Index, showed there had been a significant improvement in the granulating performance of the MRD following the upgrade. The plant studies were also complemented with laboratory scale experiments which aimed to optimise the granulation process. The effect of burnt lime on green feed permeability was quantifi ed using the laboratory scale drum at different moisture contents. A significant increase in permeability was apparent once the burnt lime dosing rates doubled from 1.1 - 2.2 per cent w/w (feed basis). The capacity of the burnt lime system at the sinter machine will be increased in order to benefi t from the expected higher permeability, permeability, which will enable the machine to sinter at deeper bed heights.

Jul 11, 2011