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By A Kuras

Segmental tunnel linings are becoming more common in Australia. One current project employing a segmental lining is the City West Cable Tunnel (CWCT) in Sydney. The project has been commissioned by Energy Australia and is currently being constructed by Thiess Pty Ltd. The project includes 1.6 km of tunnel boring machine (TBM) driven, segmentally lined tunnel. The majority of the CWCT will be excavated through Hawkesbury Sandstone. The tunnel is required to carry a 132 kV electrical circuit under SydneyÆs central business district (CBD), between Haymarket and Energy AustraliaÆs City North Substation on Sussex Street. The segmental lining has been designed as a 3.2 m internal diameter, 200 mm thick universal ring with six trapezoidal segments. The design and detailing of this segmental lining presents some noteworthy challenges, including exposure to saline groundwater, and the exclusive use of steel fibres for flexural and tensile concrete reinforcement. This paper describes some of the key elements of the segmental lining design. These include:the case for choosing segmental linings over other forms of tunnel construction;the major design checks required of a segmental lining including ground loading, hydrostatic loading, joint bearing, joint rotation, ram loading and the early strength lifting case;the benefits of using steel fibres over conventional steel reinforcement;the design approach used for steel fibre reinforced concrete;the application of 3D computer modelling in the design;the provision for components including connector dowels and gaskets;the design for passive fire resistance; andthe design for durability of steel fibre reinforced concrete in a saline environment. Segmental lining design requires the application of specialist design approaches. Input is required by the construction team, as the methods of demoulding, handling, transportation and installation impact on the lining design. As the segmental lining is functioning as immediate ground support and also a permanent lining, high standards of manufacture and construction quality control are required to ensure that the 100-year design life is met. The requirement for a watertight tunnel means that detailing and installation of the EPDM gaskets is of importance.

Jan 1, 2008

By M J. Nugus

The Geita gold mines in north-western Tanzania have produced 5 Moz of gold from an estimated endowment of 15 Moz. They are generally classified as typical Archaean orogenic banded iron formations (BIF)-hosted gold deposits in banded iron formations as described by Goldfarb, Groves and Gardoll (2001); Neall and Phillips (1987); Phillips and Powell (1993) and Neall (1987). The controls on gold mineralisation have been reassessed to conclude that Nyankanga, and we conclude that Nyankanga, the largest deposits within the group, developed during a dynamic and protracted deformation history intimately associated with several stages of hydrothermal fluid flow and alteration. The fluid-induced fractures associated with gold mineralisation are primarily manifested as submillimetre to metre-scale fractures and breccias developed preferentially in rocks that have been previously deformed and altered by silicification or seafloor metasomatism. This realisation detracts from the exploration and mining strategies that would solely concentrate on fluid pathways and associated wallrock alteration and veining solely within the BIFs as hosts for economic gold mineralisation.

Aug 22, 2011

By P Gardner

The Kanowna Belle gold mine in Western Australia has reached a depth of 1000 m on the way to 1300 m. A feasibility study undertaken in 2006 identified the mining of E-Block as both technically and commercially feasible. One of the major risks identified in the study was the ventilation capacity, as the existing primary ventilation system would not support the production schedule for mining and a major system upgrade would be required. Failure to provide the necessary airflow would put the project at risk. A review of the airflow requirements and infrastructure options detailed in the feasibility study was undertaken to ensure that the assumptions and design were optimised. This review recommended a minimum airflow of 206 m3/s, but by acknowledging the necessary constraints imposed by mining at depth and re-engineering the mine layout to optimise the primary ventilation circuit, this requirement was reduced to 160 m3/s. This represents a 22 per cent reduction in airflow and a reduction in capital cost that will see mining at depth become economically feasible at Kanowna Belle. This paper discusses the processes that led to a redesign of the mining layout and highlights the importance of including the ventilation network in the optimisation process.

Jan 1, 2008

By Han Kook-Nam, Lawson F

The recoveries of the three cobalt minerals in the Mount Cobalt deposit, cobaltite CoAsS, erythrite CO3(AS04)8H20, and new cobalt mineral with a composition approximating 2CoO.CaO.Fe203.2As205.11H2O were investigated using physical and surface-chemical processes.Over 80 per cent cobalt recovery was achieved by tabling a cobaltite-mineralized sample, while about 76 per cent cobalt recovery was obtained by dry feed magnetic separation of a sample containing erythrite and the new cobalt mineral. The resultant primary magnetic concentrate with a cobalt grade of 5.5 per cent, was able to be upgraded to 14.4 per cent cobalt by regrinding .and a further magnetic separation.Electrophoretic mobility - pH responses for each of the three cobalt minerals were found to be similar. Each mineral remained negative over the pH range 3 to 11 and was most negative at mildly alkaline pH values.Cobaltite was floated effectively with amyl and ethyl xanthate collectors under acidic conditions at collector concentrations of 10-2M to 10-5M. Erythrite showed a similar flotation response using 10-sM amyl xanthate. The practical application of these laboratory separations to an industrial process is suggested.

Jan 1, 1976

By Finch JA, Uribe-Salas A

The relationship between the process variables and hydrodynamics of a downflow concurrent column (Jameson cell) was investigated in both two and three-phase systems. Gas holdups from 10 to -60 per cent were obtained at gas rates up to 15 cm/s (STP), liquid (slurry) rates up to 25 cm/s, frother concentrations of 5 and 25 ppm, and slurry density (silica) up to 1.23 g/cm3 ina 3.8 cm diameter, 190 cm high column with a 0.5 cm diameter nozzle. Gas holdup decreases with feed rate and increases with gas rate, reaching a maximum (-60 per cent) at a gas rate to feed rate ratio of about one. Gas holdups were higher with slurry compared to water as feed. Stable operation was difficult to maintain at high gas rates especially with low frother dosage; operation was not possible without some frother. Instability was characterised by loss of pool level or formation of slugs. The slugs could move up or down or remain oscillatory. A quantitative relationship between the variables and gas holdup or onset of instability was not identified. Conductivity and pressure-based techniques were successfully tested on-line for estimation of gas holdup and to judge the state of operation (eg formation of slugs).

Jan 1, 1993

Rio Tinto Iron Ore (RTIO) manages eleven mines in the Pilbara region, Western Australia. Three of these mines have previously or are currently mining black shale that contains varying amounts of pyrite. Several new deposits currently being evaluated and existing mines that may progress below water table in the future, will also encounter this waste material. The black shale presents not just an acid rock drainage risk but also a spontaneous combustion risk. This paper presents the black shale management strategy and provides an overview of the relevant activities undertaken by RTIO. The strategy can be divided into two components which firstly involve defining the risk and secondly involve managing the risk. The mineral waste management plan is used to identify specific mineral waste hazards by:geochemical characterisation of waste material,undertaking mine site specific risk assessments,characterising the receiving environment,identifying sulfidic boundaries in geological and mining models,quantifying the amount of sulfidic material in medium and long-term mine plans, anddesigning and sequencing black shale waste dumps. Once a mine exposes black shale the Spontaneous Combustion and Acid Rock Drainage management plan is used and the major activities are: regular site meetings with a representative from every group that works with black shale;compliance with safe working procedures for site specific and detailed activities;regular training;the use of specific explosives to prevent premature detonation;ongoing geochemical characterisation;acid water management, monitoring and analysis;regular internal and external auditing of procedures and practices; andclosure planning assessments and preparations (ie cover trials, geochemical void modelling, geochemical waste dump modelling). The success of this holistic strategy is evident by the awareness of personnel within the business, thorough understanding of the geochemistry and by undertaking proactive management of black shale during mining. The strategy and management plans adopted by Rio Tinto Iron Ore have activities that other mine sites with potentially acid forming material may like to consider implementing.

Jan 1, 2009

By A Dal-Corobbo

Traditional acid and metalliferous drainage (AMD) wastewater treatment focuses on the iron co-precipitation/adsorption process as this is a very effective method of reducing heavy metals, including copper, lead, zinc, arsenic, etc, to parts per billion (ppb) levels in AMD wastewater streams. One of the drawbacks to this method however is the large volume of sludge produced and subsequent disposal costs for the mine site concerned.A proprietary metals treatment system called high density sludge (denoted HDS) which significantly reduces the quantity of waste generated is described in this paper. This process generates a dewatered sludge that contains in the order of 50 to 55 per cent solids. This sludge is denser than conventionally dewatered sludge, which typically contains only 20 to 30 per cent solids. This advanced process has a wide range of applications and can be easily retrofitted into existing AMD treatment systems. It has been successfully installed at several mine sites to treat AMD wastewaters. This paper discusses the high density sludge process, its benefits and provides data and operating results from pilot test installations.CITATION:Dal-Corobbo, A, 2013. High-density sludge process for treating metal bearing acid and metalliferous drainage wastewaters, in Proceedings Water in Mining 2013 , pp 217-220 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Nov 26, 2013

"Recognising that the mining industry is wedded to the break-even cut-off grade rather than a cut-off grade that optimises value, the author examines some perils and pitfalls in the use of break-even grades that lead to what the author calls ‘negatively geared ore reserves’.Negatively geared ore reserves occur when a portion of the ore reserves actually has a negative value and is effectively being subsidised by the more profitable portion of the ore reserves. This situation is generally difficult to detect with the level of information available to the public investor. The ore reserves can still be quite profitable in total, but now possess a level of risk that may not be appreciated.The risk profile (financial risk) of a negatively geared ore reserve is far greater than for a non-negatively geared ore reserve. Like a negatively geared investment property in a falling property market (for readers familiar with the Australian tax minimisation investment strategy), when the price of a commodity falls, a company that possesses a negatively geared ore reserve loses value at a magnified rate relative to a company that has a neutral or positively geared ore reserve. In the extreme case of a major commodity price reduction, as happened with the gold price in mid-2013, the negatively geared ore reserve can easily become negative value in total, not just in part.The negatively geared ore reserve is sometimes intentional – for instance in order to increase published ore reserve tonnages and meet the CEO’s key performance indicators – but is also often unintentional, resulting from various errors in the break-even calculation. Common errors in calculating a break-even grade include using fixed metallurgical recoveries, not including allowances for ideal laboratory versus real plant results, ignoring available operational data and using modal rather than mean parameter values in cost and performance calculations.This paper examines a common value distribution profile in many ore reserves and the effect of common break-even grade errors on this profile.CITATION:Poniewierski, J, 2016. Negatively geared ore reserves – a major peril of the break-even cut-off grade, in Proceedings Project Evaluation 2016, pp 236–247 (The Australasian Institute of Mining and Metallurgy: Melbourne)."

Mar 8, 2016

By T J. Sullivan, H Pinkster, G Swarbrick

From 2002 to 2006, longwall mining was undertaken directly beneath the Cataract Tunnel, which is a 100-year-old, heritage-listed tunnel in Hawkesbury Sandstone responsible for delivering 20 per cent of Sydney’s annual water supply. At one location, undermining resulted in movement of at least 350 mm along a known fault that transects the tunnel. During this movement, the continued operation of the tunnel was ensured through a careful system of planning, monitoring and management.Of key importance to the success of the operation was the use of advanced numerical modelling to guide operations at all levels, including feasibility assessment, pre-mine mitigation works, monitoring design, operation performance and post-mining condition. This allowed many aspects of the potential impacts to be explored, including joint movements, rock mass deformations and changes in permeability. A key challenge was to successfully model near-field influences on adverse geological structure due to very far-field effects. This paper explains the model’s conceptual development, calibration, performance and limitations.Modelling provided the confidence to manage the impacts of large mining-induced movement on key infrastructure and ultimately predicted fault movement accurately. The fault movement remains one of the highest ever recorded due to mine subsidence.CITATION:Swarbrick, G, Sullivan, T J and Pinkster, H, 2014. Longwall mining beneath critical infrastructure – prediction versus performance of the Cataract Tunnel, New South Wales, Australia, in Proceedings AusRock 2014: Third Australasian Ground Control in Mining Conference , pp 157–166 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Nov 5, 2014

By A M. Barrett, P J. Chapman

As filtering technology improves and there is an increased focus on environmental impacts, the concept of managing fine coal rejects by filtering, mixing with coarse rejects and dry stacking them is being considered more seriously. In Queensland, there appears to be a desire from regulators to move away from wet rejects facilities towards dry-stacked facilities, resulting in a change in the risk profile for the facility.A coalminer has a site with many constraints, including limited area that is not planned to be undermined and nearby rivers that are prone to flooding. The design of a dry-stacked facility that meets the operational requirements and environmental compliance criteria is challenging in subtropical climatic settings, where there is a need to consider wet seasons with high-volume, sustained rainfall events. The impact of the rainfall is multifaceted, requiring careful surface water management to separate clean and contact water, adequate foundation preparation to limit seepage to groundwater, management of stack stability given a potentially high phreatic surface and the avoidance of potential flood zones. These design constraints were compounded by a limited area available for rejects storage that would not be undermined.This paper presents a summary of the conceptual design of a dry rejects facility, including consideration of regulatory and client requirements, provision for expansion while also considering progressive rehabilitation, diversion of clean water as much as practicable during operations and siting constraints. A step-by-step concept is presented that addresses each constraint during the life of the facility.CITATION:Barrett, A M and Chapman, P J, 2015. Conceptual design of a dry-stacked coal rejects facility in a subtropical climate, in Proceedings Tailings and Mine Waste Management for the 21st Century , pp 27–34 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Jul 27, 2015

By A Suwandhi, H Utama

PT. Indo Muro Kencana (PT.IMK) is a gold mine that is located in Central Kalimantan, Indonesia. Drilling and blasting activity is applied in order to support mining production. Drilling and Blasting (D&B) planning is conducted by its engineers. A drilling and blasting contractor conducts drilling and blasting activity. The objective of this paper is to evaluate the implementation of the scaled depth of burial (Chiappetta and Treleven, 1997) in explosive charging sheet application to increase blast efficiency. The function of the scaled depth of burial is to maintain stemming height above explosive charge in order to prevent the ‘over energy’ condition, to reduce the excessive fly rock possibility, to maintain rock fragmentation (digger’s productivity) and to increase blast efficiency. The focus of this paper is to implement the scaled depth of burial as a reference in D&B planning and practice, especially in designing stemming height. The purpose of this paper is to validate that the scaled depth of burial can be used as an engineering tool in D&B practice in PT.IMK. However, scaled depth of burial cannot applied as an engineering tool to determine stemming height above explosive charge for trim blastholes and secondary blasting area. In general, the implementation of the scaled depth of burial in PT.IMK is applicable for production blastholes (ore and waste blasting). In conclusion, it is clear that scaled depth of burial can be used as an engineering tool to create explosive charging sheet and also to increase blast efficiency (ore and waste blasting) in PT.IMK.

Jun 22, 2022

By J Lea, D C. Kettlewell

The Carina iron ore deposit lies 105 km northeast of Southern Cross, WA. The area designated the Yilgarn Iron Ore Project (YIOP) is comprised of five prospects along an east-southeast trending greenstone belt that extends from the Helena-Aurora Ranges in the northwest to the Yendilberrin Hills in the southeast, over a strike length of approximately 40 km. The YIOP project encompasses the previously identified iron deposits of Bungalbin, Bungalbin East and Mt Walton. The Carina deposit was discovered by Polaris Metals NL in May 2007. The Carina deposit is located within and parallel to the structurally complex northwest trending Mount Dimer shear zone. The volcanosedimentary Archaean-aged greenstone sequence consists of ultramafic and mafic lavas and flows with interbedded sediments dominated by chert and banded iron formation (BIF). Supergene enrichment processes formed a goethite orebody replacement of BIF sequences within a doubly plunging synclinal fold structure. Mineralised outcrops dominated by goethite form a low ridge 1500 m long, up to 90 m wide and drilled to over 200 m in depth. In the vicinity of the Carina deposit, iron occurrences have been identified over at least a 12 km strike length and the exploration potential of the area is identified as 30 - 40 Mt. Polaris Metals began exploration in the area in 2006. Target generation in the area used existing state geological survey maps and regional magnetic survey data to focus on BIF occurrences associated with major structures. Early field investigations resulted in the identification of a large outcrop of predominantly goethite mineralisation at Carina. Detailed geological and structural mapping was completed, followed by close-spaced reverse circulation and diamond drilling. The mineralisation is predominantly goethite with specular and coarse platy haematite localised along structures that cut the goethite mineralisation. Mineralised zones are moderately vuggy and larger cavities occur in proximity to fault zones that transect the orebody. A capping by a thin veneer up to 9 m thick of canga or ferricrete occurs in places. By December 2008, 178 reverse circulation and 11 diamond drill holes (seven surface holes, four tails) were completed. The current JORC-compliant resource estimate is based on assays from 72 RC drill holes and using a 55 per cent Fe cut-off stands as an Inferred Resource of 27.9 Mt at 58.6 per cent Fe, 1.3 per cent Al2O3, 3.7 per cent SiO2, 0.09 per cent P, and 10.1 per cent LOI. Assaying has recently been completed and will be incorporated into a new updated resource later in 2009.

Jan 1, 2009

By S Hille, J Karageorgos

With the increased variability of todayÆs large-scale mining operations, consistent flotation performance is important to improving and sustaining overall recovery through the circuit. The Newcrest Telfer Mine has implemented advanced process control technology to obtain stable level operation and consistent mass pull in the copper rougher and scavenger flotation circuits. The final result has been an overall reduction in variability, which impacts on both copper and gold recovery. This paper describes the methodology and implementation of the improvements in control at the Newcrest Telfer Mine as being an essential part of the business for minerals processing.

Jan 1, 2007

By M K. Nahian, R G. Reddy

The thermodynamic model for species distribution in aluminium chloride (AlCl3) and 1-butyl-3- methylimidazolium chloride (BMIC) system was developed. The experimental thermodynamic data, considering a range of aluminium chloride species, such as AlCl4-, Al2Cl7-, Al3Cl10-, Al4Cl13-, and Al2Cl6 were used in developing the model. When the XAlCl3 was in the range of 0 to 0.50, only anion species Cl- and AlCl4- were existing in the solution. As the XAlCl3 value increased more than 0.50, the available anions were Al2Cl7-, Al3Cl10-, Al4Cl13-, and Al2Cl6. Specifically, the concentration of Al2Cl7- increased in the composition range from 0.50 to 0.67 XAlCl3, after which it decreased. This change in the concentration of Al2Cl7- was due to its reaction with excess AlCl3, leading to the formation of Al3Cl10-. The average cathode current density was determined by the electrochemical experiments varying XAlCl3 from 0.50 to 0.71 in the AlCl3:BMIC solutions. The average cathode current density increased as the XAlCl3 increased from 0.50 to 0.67. However, it decreased when the XAlCl3 > 0.67. This trend can be attributed to the electroactive species Al2Cl7-. The Al2Cl7- promotes the reduction rate at the cathode, resulting in an increase in the average cathode current density.

Aug 21, 2024

By M R. Drumond

The present work presents a new theoretical interpretation of the flotation process, which can also be applied to other mineral processing physical unit operations. This interpretation is part of the æModelo OperacionalÆ (Operational Model) that was developed as an attempt to establish a new theoretical basis for mineral processing unit operations. In the case of flotation, a book was edited by one of the authors in Brazil (Mass Concentration by Froth Flotation, in Portuguese and Spanish).The model establishes a link between a natural phenomenon (migration of particles from the pulp to the froth) and a real industrial phenomenon (mass concentration by operational interference). In this model, flotation is viewed as a phenomenon of macromolecular mass transport (of particles) between froth and slurry phases. Mechanisms for mass transport and particle flow between phases as a function of the hydrophobic potential in each phase are discussed. By establishing the so-called equilibrium distribution curve between phases it is possible to calculate macroscopic balances that are related to metallurgical results, which in turn are a function of the operational line that is required by the process itself. The number of cleaning stages and their efficiencies can also be determined by simple laboratory-scale experiments.

Jan 1, 2005

By B Rouvray, R Bertuzzi

The development of a design-and-construct tunnelling project in Australia from its concept to its construction requires designs to be prepared and reviewed at several distinct stages prior to documenting ‘for construction’. On recent projects the post-tender stages have been variously called 30 per cent—70 per cent—100 per cent; or concept–substantial–final; or system definition–preliminary–critical. The design is reviewed at each stage by the designer’s internal reviewer, the contractor and its independent advisor(s), the owner and its independent advisor(s), the project’s independent certifier, proof engineers and often third-party stakeholders and their advisors. Documentation for each stage often dominates the design effort, at times distracting from design. This paper presents the authors’ experience of this design-and-review process. Comparisons of design budget and actual design spend and design program implications are presented. It is postulated that a subtle change has occurred in our industry that has diminished the value of the design dollar. Is there a better process? An alternative is suggested.CITATION:Bertuzzi, R and Rouvray, B, 2014. Reducing the cost of tunnel design in Australia, in Proceedings 15th Australasian Tunnelling Conference 2014 , pp 501–506 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Sep 17, 2014

By J Vann, C Seymour

Geology is generally treated as a æfront endÆ step in mine development. After infill drilling, the majority of resource estimation, mine-planning, development, mineral processing strategies and operational procedures are planned and implemented with little geological input, particularly in open pit operations. However, significant benefits in overall costs, cash flow, and technical risk reduction can be realised when sound geology is utilised more rigorously throughout the mining process. This under-utilisation of geology in the mining process has arisen due to a combination of factors:A lack of interest in, or knowledge of the full mining process by geologists. Few geologists fully understand where their inputs make critical impacts on downstream users. As a result of this, geologists generally do not focus their inputs towards areas of greatest value added, ie addressing issues critical for other members of the mining team. Most importantly, few geologists effectively communicate their results to the downstream users of their geology models. The results are that the potential benefits of geology, and the appropriate status of geology in the mining industry, are not fully realised. It is fundamental to realise exactly what geologists do. Geologists constrain geological processes and geometry. All geoscientific tools at the geologistsÆ disposal are geared towards one of these goals. An emphasis on geological processes is present throughout the exploration process, whereas in the resource estimation and mine development process an emphasis on geometry is required. The mining process is a web of disciplines that are attempting to optimise development of a resource to provide value to shareholders. Yet few people within these disciplines have a full appreciation of this web, and where sound geology inputs can add value through various feedback loops. Geology inputs do not end at the resource estimation stage, nor are they relegated to grade control implementation. If geologists have an appreciation of the mining process and close liaison with the other disciplines such as geostatistics, geotechnical engineering, hydrogeology, and mining engineering, they can significantly benefit project costs, timelines, and constrain technical risk by addressing their issues at the earliest possible stage. Furthermore, the mining process is not a single pass timeline, but an iterative process where the exploration, resource definition, mine planning and mining loop is continually repeated over the life of a project. Therefore, the potential inputs of geology are critical throughout the mining process. Effective communication of the impacts of geology inputs on downstream users is often lacking on mining projects. The most effective way to communicate geological results is through where it impacts most û project risk. Focussing all geology inputs and communication in terms of potential material risk allows the geologist to be more effective in contributing value to the mining process, and allows the downstream users of geology inputs to better constrain the risks associated with their aspects of the mining project. Through a program of geologists:taking an interest in the entire mining process and identifying critical areas for geology inputs to downstream users (the geologistsÆ clients); focussing geology inputs to address the potentially material issues on mining projects; and communicating their inputs to the æclientsÆ in terms of technical risk, geology will be much better integrated into the mining process. As a result, the potential benefits of geology throughout the mining process will be realised, and the status of geologists within the mining process will be elevated to a more pivotal position.

Jan 1, 2000

By P Pelletier, J Tessier, C Duchesne

This paper summarises research into the study of the control of flotation processes based on froth images. A review of the froth flotation operation background and the relevance and role of the froth phase are presented. The use of numerical image analysis techniques for the extraction of significant patterns from industrial flotation froths is discussed. First, the froth was analysed by the use of the multivariate image analysis (MIA) method to extract the spectral variation contained in a RBG image. The partial least squares (PLS) method was applied to develop an empirical model for the prediction of froth grade. The results of this application are illustrated using an industrial case study. Second, the froth was also analysed by grey-level co-occurrence matrix (GLCM) and wavelet transform analysis (WTA) to extract features related more to morphological aspects. Since there is useful information hidden in froth texture, these methods are used as texture descriptor to classify different types of froths. They also provide qualitative information on the changes in the visual appearance of the froth. The pros and the cons of those methods are highlighted. Third, a control strategy based on a froth structure indicator was developed and implemented on an industrial zinc flotation circuit. The feedback controller uses the reagent flow-rate in order to maintain the froth structure at its set point. Process improvements obtained from the implemented control strategy are highlighted. Finally, the feasibility of implementing a hybrid control strategy consisting in a froth structure supervision controller based on the froth concentrate grade estimated by MIA and recovery inferred by image analysis is discussed.

Jan 1, 2005

By E C. Holloway

"The financial valuation of mining assets has a number of fundamental differences to the valuation of many other asset groupings. One such difference is that typically, the greater proportion of both the cost and revenue sides of the cash flow are inherently governed by systemic market forces.As a result, the range of outcomes for the valuation of each mining asset is more unpredictable, with higher levels of risk and uncertainty. In contrast, the management function of many other non-mining businesses or industry groups can control at least a portion of the cash flow by maintaining the margin or controlling the sales price. The management teams of mining businesses and operations typically have limited options, and are thus price-takers for both costs and revenues. As mining is an inherently cyclical industry, large, long-life operations can exist through several price cycles, making valuation both subjective and challenging.The outcomes of both static- and stochastic-based valuations, as well as the internal probabilities of the associated cash flow statements, are significantly impacted when the correlations between the appropriate parameters are quantified, modelled and incorporated into the valuation framework. The appropriate parameters for correlation modelling primarily include those that are governed by systemic market forces. Applying this process results in a different risk profile for the asset by allowing the risks resulting from systemic market movements to be more accurately quantified and then objectively minimised. This process also reduces the level of residual uncertainty in the valuation outcome.This paper presents a valuation methodology to pragmatically incorporate this level of valuation sophistication and statistically quantify the associated increase in the level of confidence of the valuation outcomes reported.CITATION:Holloway, E C, 2016. Correlated valuation methodology, in Proceedings Project Evaluation 2016, pp 181–200 (The Australasian Institute of Mining and Metallurgy: Melbourne)."

Mar 8, 2016

The complexities of mining in current economic conditions, where ore extraction schedules are varied on a weekly basis so as to ensure constant supply to the process plant, can result in a number of scenarios that pose geotechnical challenges. This paper presents a case study where alterations in the mining schedule of a particular mine resulted in the necessity to mine under a large uncompacted embankment, ie integrated tailings and mine waste land form. To effectively ensure that ore recovery was maximised, a well-designed slope monitoring system to evaluate design performance and to provide timely warning of impending failures was imperative. In order for an appropriate slope monitoring strategy to be developed, a thorough understanding of the potential slope failure mechanisms, capabilities and limitations of available monitoring techniques is required. Communication of the monitoring results and response strategy to alarms generated by monitoring systems must also be carefully considered to maximise effectiveness. The results of preliminary stability modelling can be used to guide the design of a monitoring system, which in turn can then generate data which can be used to iteratively refine the geotechnical model. This paper illustrates the development and implementation of a slope monitoring system and associated communication system, using the Daydream embankment at Fortescue Metals Group's (FMG's) Cloudbreak Operations as a case study.

May 1, 2010