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The ""comparable sales"" method of valuation attributes value to an asset by reference to actual sales of comparable assets or to the market capitalisation of companies with comparable assets. This methodology is widely used in real estate valuations. The real estate approach can be used to value mining and exploration properties where there are actual sales of comparable or similar assets in the recent past. The practical limitations of the comparable sales method are well known and self evident: limited number of transactions, limitations on comparability and inadequate data. The real value of the comparable sales method is in its use as a validity check. Estimates of value of mining and exploration assets are so sensitive to so many variables that all valuation methods have limitations. Accordingly there is real value in attempting to establish benchmarks from comparable sales. Apparently sophisticated valuation methods can mislead by creating the impression that valuation is a precise science. The judgement of the valuer is critical and judgements can be wrong. Any available evidence from actual sales that are even remotely comparable can provide useful input to the valuation process.

Jan 1, 1994

The implementation of the Mining Further Amendment) Act, 1970, and later the Coal Mining Act, 1973, placed a requirement on the Department of Mines to accept an initiative in relation to coal exploration and coal mine development which does not apply in the case of other minerals. It is necessary to consider the exploration of the total coal resources of the State when considering exploration rather than one individual basin or deposit. If the level of knowledge of the coal resources in these basins is considered in relation to their potential for development it is possible to allocate broad scale priorities to their assessment. Due to the enormity of the task which involves a conservative estimate of in excess of 400 000 m of drilling to reach a broad reconnaissance level of understanding the involvement of industry with the Department in the exploration programme is necessary. The development of the coal deposits by mining operations must give consideration to a number of constraints apart from the simple availability of the resources. Principal among these are aspects

Jan 1, 1976

The new South Australian Mining Act be came operative in July, 1972. It provides appropriate updated legislation covering pro- specting, exploration and development of mining properties. Anomalies inherent in earlier legislation which provided for the private ownership of minerals in certain areas have been overcome by the vesting of the property in. all minerals in the Crown. Appropriate transition- al and long term provisions protect the right of individuals thereby divested of their former property in minerals. In the matter of pro- specting for and quarrying of extractive minerals, the rights of landowners have been formally recognized, and the concept of rehab- ilitation of quarried areas has been introduced utilizing money provided from a royalty fund especially established for this purpose. Con- temporary company exploration practice is catered for under a new exploration tenement and at the same time the legislation makes provision for the interests of individual pro- spectors. Special provisions have been enacted to cope with the rapidly developing opal mining industry. A feature of the new Act is the introduction of legislation which recognizes enlightened contemporary thinking on the matter of environmental considerations. The Act has also extended the powers and widened the jurisdiction of the Warden's Court. In general,

Jan 1, 1974

The gold industry has been revolutionized in the last decade by market forces and technological changes. The latter are discussed in this paper, with particular emphasis on carbon-in-pulp (CIP) and heap leaching. The nature and scope of the process development aspects of a gold project are considered, and factors which determine process decisions are outlined, including the choice of CIP versus carbon-in-leach (CIL), agitated leaching versus heap leaching and treatment of ores containing copper and silver. Likely directions for development of gold processing in general are discussed, and metallurgical process options for treatment of ores of platinum group metals (PGM) are outlined.Metallurgical process development for gold and platinum group metals proceeds through a number of well defined stages, with input from various disciplines and information sources. The orientation phase will include preparation of a general project overview; careful consideration of the issue of sampling and sample preparation; characterisation of the resource in terms of ore types, mineralogy, chemical composition; development of appropriate methodology; and development of an understanding of the potential metallurgical unit operations.The process definition phase will be-'directed to development and definition of a notional process flowsheet, and will include identification and appraisal of process options; development of, notional process flowsheets; testing of flowsheets against ore types; ranking of flowsheets; initial engineering, including preliminary mass balances, equipment selection and plant layout; and broad-brush economic appraisal.

Jan 1, 1986

The southern portion of the Swan Coastal Plain, a geomor-: phological element formed since late'Tertiary times, contains commercially exploitable accumulations of ilmenite, zircon, rutile'and monazite associated with a series'of raised'shorelines. The:location'of the deposits is controlled by a locally outcropping*Archaen-granite/granulite complex and a sea':current pattern'determined'by'local geography and a prevailing wind direction.'-A progression from medium. to high titanium ilmenite is'evident parallelled by. progressive leucoxenisation as the age of the deposits increases. Variation's in trace element content accompany this process. Circulating groundwater has caused vertical mineralogical variations within-individual deposits and' by p'ecipitation of iron has formed layers of hardpan. The economic sig- nificance''of the Geographe--Bay deposits is'briefly discussed,

Jan 1, 1964

By Whitehead A. B

INTRODUCTIONDuring the past few years there has been considerable interest in developing the so-called direct reduction processes for treating iron oxides. The various methods proposed were recently reviewed by Scortecci and Palazzi (1960).In particular the application of fluidized bed techniques received considerable attention and, on first examination, this seems to be the ideal method 'of dealing with fine iron oxides. Several difficulties (e.g. product agglomeration) require the method to be investigated further before its potentialities can be fully assessed.PROPOSED FLUIDIZED BED REDUCTION PROCESSESBrassert and De Jahn (1951) were among the earliest to suggest the use of fluidized beds for the reduction of iron ore to metallic iron. Their patent was followed by many others proposing similar concepts, mainly from Lewis (1955), Ogorzaly (19.56), Shipley (1956), Agarwal (1960'), Osborn (1958), Texaco Development Corporation (1956) and Stelling (1957).The H-iron process (Squires and J ohnson, 1957; Lubker and Bruland, 1960) is the only scheme that has been an economic success. This process, mentioned later, manufactures a 'premium quality product in the form of sized iron powder.AIM OF THE PRESENT WORKThe work reported here was performed to assist in the formulation of a comprehensive pl'ogramme of research into fluidized bed reduction processes to be undertaken at the...

Jan 1, 1962

By G H. Luttrell

The use of secondary desliming cyclones ahead of froth flotation cells to reject ultrafine (-45 ¦m) particles has become a popular option in the United States for preparing fine coal feeds for froth flotation circuits. In light of this popularity, several experimental studies have been performed at industrial plant sites to develop a better understanding of the impacts of ultrafine desliming on froth cell performance and, ultimately, overall plant performance. These studies included an evaluation of various circuit configurations incorporating different flotation technologies (conventional machines and column cells) as well as different dewatering systems (disc filters, screen-bowl centrifuges, and thermal dryers). The data obtained from these studies indicate that deslime circuits offer several important benefits including lower product ash, reduced product moisture, better froth handling characteristics, and lower capital and operating costs. In addition, case studies conducted as part of this investigation have been used to develop generic guidelines for how deslime circuits may be successfully applied to improve the overall profitability of fine coal flotation circuits for both the metallurgical and steam coal markets.

Jan 1, 2005

By Pease JD, Munro PD

The heavy medium cyclone plant for the preconcentration of silver-lead-zinc ore prior to grinding and flotation was commissioned in August 1982. This paper details the measures taken to get the plant up to design performance which involved modifications to the medium densifying and slimes clarifying sections. Operating experiences to date are described with emphasis on the low medium consumption recorded and severe wear on process equipment.

Jan 1, 1984

Australia's gold mining industry has seen a resurgence in the past seven years - a resurgence the likes of which has been seen in very few, if any of this nation's other mineral industries. Industry experts are predicting that Australia could become one of the world's largest gold producers as the future of the South African gold industry looks increasingly tenuous under the present political crisis in that country. Therefore, it is utterly ludicrous for the Federal Government to introduce a tax which will see the Australian gold industry "wither on the vine."The Queensland State Government is utterly opposed to a tax on gold. Anyone in their right mind, who has seen the statistics could only agree with our stance. In 1984/85, activity in the gold mining industry is estimated to have accounted for over $750 million in national income, over$1,200 million in national output, and tax revenue of at least $115 million as well as providing more than 16,000 jobs. Chartered accountants Coopers and Lybrand's survey on the gold industry last year showed an increase in exploration expenditure by gold producers and explorers by up to 36% in 1986 from 1985 levels. That level is expected to be maintained in real terms for most of the remainder of the decade under the present tax arrangements. This is in contrast with the mining sector as a whole, where a recent Australian Mining Industry Council survey forecasted a 14% FALL in production.

Jan 1, 1986

It is well known that in most areas of Central Europe it is not difficult to find water - usually at shallow depths - and to recover and use this water. What is much more difficult, however, is to find water sources that offer both sufficient in quantity and qual- ity. Far too often, there are sources that offer abundant quantities but of poor quality or vice versa, i.e. high quality water but insufficient volumes. In the former case where water quality is not adequate - which is more often than not due to anthropogenic factors and only very rarely a result of geogenic effects - the application of treatment techniques can help to turn such water into potable water that is suitable for human con sumption.

Jan 1, 1988

When Australian voters elected a Labor Government in March 1983 the value of the Jabiluka uranium deposit as an asset of Pancontinental Mining Limited effectively evaporated overnight. The day before the election, Jabiluka was Pancon's principal asset, with the Company's 65% stake in the deposit having a market value of the order of $US1 billion. This value had been set by an agreement reached with a potential customer, who was prepared to pay $US150 million for 10% of Jabiluka. The months before the election had been the culmination of ten years of unremitting effort to bring what was then the world's largest reserve of high'grade uranium ore into production. These efforts had included two and a half years of negotiations with the local aborigines, as well as exhaustive environmental studies and conceptual mine planning. All domestic approvals required to develop the Jabiluka deposit had been given to Pancontinental and marketing efforts had successfully placed about 50% of the expected uranium production with overseas utilities. It appeared that Jabiluka was about to emerge as one of the world's great mining enterprises. The election of a government with an anti-uranium policy stopped Jabiluka dead in its tracks. Pancontinental's largest asset had effectively become worthless and the Company appeared to be facing a bleak future.

Jan 1, 1987

By Sturgul J. R

A major electricity generating authority have a proposal to construct a Power Station. An understanding of the operation of the bunker system is of importance to the designers and a computer simulation model of the operation was constructed. The computer language used was GPSS/PC which is a recent form of the language designed for the per- sonal computer. The model simulated trains arriving at the power sta- tion and unloading onto conveyors which carry coal to the power station bunker. Coal was drawn from the bunker at a specified feed rate to the power station. Numerous restrictions were placed on the model, if the bunker level got too high dozers would pull coal out of the bunker onto the stockpile, and if the level got too low the dozers would push coal back into the bunker. The conveyors and dozers were unavailable due to breakdown'at various times and trains would arrive randomly about a mean interarrival time. The system was simulated for 30 years of oper- ation and the model used a basic time unit of 30 minutes so that the system was updated 525,600 times during the simulation. The results of the simu- lation gave the designers a greater understanding of the critical factors in the operation, which may now be engineered to minimise adverse Effects.

Jan 1, 1988

Cyanidation tests by bottle agitation were conducted on an oxidized lead-silver ore containing approximately 12% Pb and 500 g/t Ag. Over 60% of the silver was leached when the ore was ground to 100% passing 0.15mm, whereas 50-60% of the silver was leached when the ore was only ground to 100% passing 0.5mm. Slurry handling and dewatering at the fine grind size were very difficult due to the high clay content of the ore, however this problem was greatly reduced at the coar- ser grind size. The silver recovery at the fine grind size was very dependent on cyanide solution strength with stronger cyanide sol- utions (containing more than 0.1% NaCN) re- sulting in lower solution silver contents. This was thought to be due to the precipi- tation of leached silver by zinc, which was also leached from the ore by the higher cyanide levels. There was a critical zinc level in solution of approximately 1000ppm, above which the silver recovery fell markedly. Cyanide and lime consumptions for this ore were high (typically 5 kg/t and 40 kg/t respectively), hence the processing of this particular ore by cyanide leaching is un- economic at current silver prices.

Jan 1, 1987

By P Cepuritis, G Chitombo a, I Brunton

There is a significant amount of past evidence that links blasting and occurrences of slope failure. Particularly of great concern at Telfer Gold Mine is the effect of open pit blasting on the stability of the footwall slope above the underground portal and the stability of underground structures. For this reason, Newcrest Mining Ltd invited JKMRC to conduct necessary field measurements and numerical modelling with the following objectives:assess the dynamic stability of the footwall slope above the portal; assess the characteristics of current and future blasts in the open pit; and prepare open pit blasting guidelines that will minimise the detrimental effect of blasting on slope stability. To achieve these tasks it was necessary to develop a scaled distance attenuation curve for blast vibrations. In order to validate the developed vibration attenuation curves it was necessary to monitor vibrations from a production blast. Using JKMRC blast design software tools, the vibration of the production blast was also modelled from the blast design and vibration results from single hole blasts. The intention was, assuming that the observed and modelled vibrations were close in terms of frequency and amplitude, to use the software tools to model the vibrations of future blasts and assess their likely effect on slope stability. Numerical modelling of the dynamic stability of the footwall slope was done using the FLAC finite difference code and the UDEC distinct element code. The results of the numerical modelling and of the field measurements of the blast induced ground vibrations were combined into the blast design rules that relate distance between the slope and the blast, charge weight per delay and number of blasts necessary to cause failure of the slope.

Jan 1, 1999

THE writer of this paper well realizes that the majority of engineering and metallurgieal works have from time to time evolved mechanical devices which are of great value as regards application in an operating plant.Many of these deviees would not be apparent to an individual making a brief inspection of works such as these, and it is for this reason that the writer proposes to outline a few of the devices which have been evolved by the engineering department of the Broken Hill Associated Smelters Pty. Ltd.NOVEL METHOD OF MACHINING A SPHERICAL JOINTFig. 1 represents one half of a casing for a ball-joint coupling. In the ordinary methods of boring an external spherical casing, that is with a radius bar attached to the tool rest of a lathe, there is always an error in the bore. It has two flat sides, and this error is inherent in the ordinary orthodox method and cannot be corrected. The engineers of the Broken Hill Associated Smelters Pty. Ltd. undertook a job that had to be extremely accurate, and the tool shown in Fig. 2 was evolved. The tool is not exactly fool proof, but in the hands of an average mechanic an absolutely perfect FIG. 1. sphere can be bored. The casing has to be held in the lathe in such a manner that one half can be removed without affecting the setting of the work. The business end of the tool is then placed inside the...

Jan 1, 1922

The Transportable Moisture Limits, as ,measured by the procedures laid down in The IMCO Code of Safe Practices for Bulk Cargoes, determine the target moisture contents for the concentrates produced at the West Coast Mines of Electrolytic Zinc Company of Australasia Limited at Rosebery. Filtration of these concentrates gives moisture contents considered to be low in comparison with those achieved for similar sulphide concentrates, but which are very close to these Transportable Moisture Limits. The filtering techniques used are outlined and the problems associated with-maintaining concentrate moistures below the required limits, together with the methods used to solve these problems are discussed.

Jan 1, 1978

By H R. Phillips

The ventilation and refrigeration design of underground mines is an important aspect, when new or existing mines are considered and places a great responsibility on engineers tasked to do so. The current trend for both local and international underground mines is to extend their search for valuable ore reserves deeper below surface. In South Africa, the predictions are that about 40 kt of actual gold still lies in situ, ready for extraction. As mines extend their search for minerals of economic value deeper and deeper into the earthÆs crust, ventilation and refrigeration aspects of such mines become more prominent than before. The planning and design of the required ventilation and refrigeration within these mines, over their expected lifetime is important including the practical implications of such designs. Technology changes and improvements need to be incorporated into ventilation and refrigeration designs, where possible and advances in this specialised field explored. This paper explores ventilation and refrigeration design aspects within the underground mine sphere. Aspects such as mining depth, virgin rock temperature (VRT), mining methods, and different cooling applications available including ventilation supply are reviewed in design applications. Heat generally becomes a significant aspect to counter in these mines and they are not always necessarily deep mines.

Jan 1, 2005

At some time in the mining life of an open cut coal deposit, consideration is usually given to determine the point at which underground mining becomes an economic proposition or even necessary. This can occur anywhere from the pre-feasibility project stage to decades after commencement of mining. Options which can be considered include the extension of the life of the open cut by use of larger equipment, the utilisation of highwall mining techniques and the introduction of low capital start-up or full underground development. The primary focus is always the minimisation of the total unit cost (including capital )of clean product. The transition point at which an undergound mining operation becomes more economic than an open cut operation is not a simple evaluation and depends on many factors, particularly on the nature of the deposit itself. The main general determining factors of the transition point are related to the three factors of mining resource, the mining method that can be used and mining cost issues. Mining resource issues include geography, geotechnics, strip ratio, geology and the size of the deposit. Mining method issues include highwall mining, extending the life of an open cut, the environment, available roof support technology, product yields and the availability of appropriate workforces. The mining cost factors discussed include capital and operating costs and the impact of productivity and management. All these factors impact to a varying extent on the transition point.

Jan 1, 1997

The Mineral Resources Act 1989 was assented to on 25th October, 1989 after more than two years of consultation and negotiation between Government, the mining industry and other affected parties particularly the major rural organisations.The legislation proposes major conceptual changes in a number of areas and adopts a totally new approach to the definition of land and the mechanisms available to the mining industry for accessing such land.Unfortunately the passage of the legislation through Parliament coincided with the lead-up to the State election. Ultimately it became an election issue generating much adverse comment in the media particularly from rural and landholder groups. It was obvious that much of this anti-mining propaganda resulted from a lack of understanding of the legislation and the benefits that flow to the majority of landholders as well as the mining industry.It is essential that the contents of the Mineral Resources Act be thoroughly understood by all parties. Only then will all the State's resources be able to be developed in a multiple land use environment.This paper outlines the philosophy behind the new Act and the more important provisions contained therein.

Jan 1, 1990

THE following paper is a description of the plant and operations of the above company in their recovery and treatment of the quartz tailings deposited as final residues by the various mining companies. at Waihi, Karangahake, and Waitekauri into theOhinemuri River. During the past few years the silting of the Ohinemuri River has increased to such an extent as to cause considerable interest and discussion, and has lately been the subject of a most extensive inquiry by a Royal Commission, to consider the best means of dealing with what is generally spoken of as a public nuisance.Ever since the commencement of mining in this district, which was opened as a goldfield in 1875, the various mines operating have been discharging their tailings into this river, it having been proclaimed a sludge channel in 1895. Up to the year 1900 the quantity of quartz crushed was not large, probably not exceeding 500,000 tons; but since that date the annual tonnages discharged have increased enormously, and at the present time would total from 550,000 to 600,000 tons per year. Records show that up to the end of 1910 at least 5,000,000 tons have been crushed, for an actual yield of bullion considerably exceeding £10,000,000 in value, and all the valuable tailings from...

Jan 1, 1911