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Discounted cash flow (DCF) methods are well suited and recommended as a primary valuation method for mineral assets for which there are at least indicated resources and some form of feasibility study containing engineering, production and capital and operating cost data. DCF methods are also applicable as a secondary or check valuation method for exploration properties for which no technical study has been prepared. For projects where little or no engineering, production and/or cost data is available, the process of formulating a project concept by specialists who do not possess experience and expertise in the relevant technical faculties is totally rejected as a basis for applying DCF techniques as a primary valuation method. Such an approach runs counter to The Australasian Institute of Mining and Metallurgy (AusIMM) requirement to apply relevant expertise to specific aspects of mineral valuation. Technical and commercial inputs to mineral valuation should be reviewed by specialists who have specific expertise in the relevant disciplines, and should be tempered by the quantity and quality of technical evaluation which has been undertaken and the development status of the asset.

Jan 1, 1994

By G R. Ballantyne, M S. Powell, M Tiang

This paper reviews the proportion of energy attributable to comminution within the Australian gold and copper mining sector. The need for this is motivated by inconsistencies in the quoted energy usage data and the lack of a common basis for reporting the fraction of energy in mining that is attributable to comminution. This study should form a reliable basis from which to assess both demand and opportunities to reduce energy consumption.The proportion of milling energy was calculated for the major producers in the Australian gold and copper sector. A sampling methodology created by Powell et al (2003 - 2010) was initially used to provide an accurate and meaningful measure of the energy used in the comminution process. However, no useful method for grouping similar mines was found. Fortunately, a surprisingly large amount of high quality data was found from a number of different sources, allowing the development of robust relationships to be used to estimate a high proportion of the unknown values. The fraction of energy attributable to comminution was found to be dependent on how the total energy consumption was defined. For instance, comminution accounted for 52 per cent of the electrical energy, but only 21 per cent of the total energy publicly reported by the mines because a substantial proportion of energy used on a mine is in the form of transportation fuel (mostly diesel). Critically, the measured electrical energy consumption does not account for transmission and generation losses, while diesel energy usage is typically quoted according to its calorific value. This review proposes that diesel should instead be converted via the mechanical efficiency factor for diesel engines. Using this conversion, comminution was found to account for 36 per cent of the available energy on average. This approach allows a useful basis of comparison for mines regardless of whether milling energy is obtained from electrical or diesel generation. A summary of the results are shown in Figure 7 with other values obtained from literature. The total comminution energy assessed in this study accounts for 1.3 per cent of AustraliaÆs electricity consumption, this figure will increase as the other mineral commodities are added to the study.CITATION:Ballantyne, G R, Powell, M S and Tiang, M, 2012. Proportion of energy attributable to comminution, in Proceedings 11th AusIMM Mill OperatorsÆ Conference, pp 25-30 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Oct 29, 2012

Concrete has been used for many years in block caving, principally for drift and drawpoint linings. This paper describes the requirements for concrete in this application, the required properties, the mix design, and transportation and placement systems. In addition a concrete mix design rationale is also proposed.

Jan 1, 2000

By Ward S. D

When using grinding time for a batch grinding operation as a measure of the energy usefully employed for comminution; the assumptions made are often not valid. A kinetic approach, based on a study of the rate constant, or k, value for the material is more acceptable. The Rosin-Rammler distribution equation has been theoretically derived from the general equation for first-order batch grinding. This relationship, incorporating a term for k, was used in a study of the rod milling of a binary mixture of quartz and limestone.The presence and degree of interaction between the components was considered by comparing the size distribution of the mill product with that predicted by assuming the overall distribution equal to the sum ofthe distributions given by the Rosin-Rammler equations for each component weighted according to its volume fraction in the mixture. The interaction was found to be complex and particularly sensitive to particle size.A simple graphical procedure was devised to predict the size distribution of the mill. Product components and this gave a fairly good approximation to experimental data.

Jan 1, 1976

By Laajalehto K

The basic condition necessary for flotation is hydrophobicity of the surface of the mineral to be floated. For sulphides, this condition usually requires treatment with a collector solution. The conditions for this treatment have until recently usually been chosen by the trial and error principle which has indeed been working relatively well under favourable conditions; ie for simple homogeneous ores. However, the present tendency to increasing use of complex and often relatively lean ores sets increasing requirements for the control of the flotation process. This development is the reason for the present rapid development of process control methods in flotation. In addition to the already well-established practices of pH and reagent feed controls, the importance of measuring and controlling the electrochemical potential of the ore particles to be floated is recognised in the case of sufficiently conductive minerals. In fact, the electrochemical potential seems to be the basic quantity determining the flotation behaviour of such relatively well-conducting minerals as sulphides. Since the hydrophobicity of the mineral and, hence, its flotation properties are ultimately determined by the composition and structure of its surface, information on these under different process conditions is important for design and operation of efficient flotation processes. The basic requirement set for the methods used for obtaining this information is high surface sensitivity of the method. The recent rapid development of surface characterisation has produced several methods which fulfil this requirement. Their application to the problem of characterising surfaces of mineral samples in contact with collector solution is, however, often complicated. The main reason for this is the vacuum environment necessary for the measurement. In the case of flotation experiments this means that in most of these methods the measurement cannot be made in situ, but the sample must be extracted from the liquid and subsequently evacuated in the vacuum chamber of the instrument. It is essential to carry out these steps so as to avoid to the extent possible changes in the sample surface. For the purpose of establishing whether this has been accomplished it is important to compare the results of methods operating in vacuum with some available in situ method. An optimal choice of methods seems therefore to be a combination of the available powerful vacuum methods with in situ measurements. The most usual combination seems to be X-ray photoelectron spectroscopy (XPS or ESCA), Fourier transform infrared spectroscopy (FTIR) and electrochemical measurements. This choice combines the unique possibilities for direct elemental and chemical characterisation offered by XPS (Cecile, 1985) with the in situ capability of FTIR and electrochemistry. In the XPS measurements, it is essential to apply a special sample handling technique to avoid loss or damage of some sensitive species of the collector-based layer on the mineral surface. In the following will be given some examples of the application of the XPS technique in combination with electrochemical methods of sample treatment to studies of the layer formed on sulphide substrates in ethyl xanthate (EX)

Jan 1, 1993

The United StatesÆ reporting standard for the mining industry for securities purposes is contained in the Security and Exchange CommissionÆs Industry Guide 7. It defines proven and probable Reserves using its own definitions, and prohibits the disclosure of quantitative estimates, for all mineralisation other than those two Reserve categories (though disclosure of Measured and Indicated Resources as quantitative mineralised material estimates is now informally allowed). Similarly, it restricts disclosure of value estimates to Reserves only, which SEC policy generally requires to be on an historic cost accounting basis. The SEC does not maintain a formal Competent or Qualified Person policy. In March 1999, the US-based Society of Mining, Metallurgy and Exploration (SME) released an update of its 1991 guidelines for definitions to be used in reporting of Mineral Resources, Reserves and Exploration Information, closely abiding by the 1997 CMMI recommendations. However, without SEC recognition, reporting under the SME and CMMI definitions is effectively barred for US companies. The SEC intends to adopt the International Financial Reporting Standards (IFRS) of the International Accounting Standards Board (IASB). This will occur within just a few years, when the convergence project for development of the IFRS has reached a satisfactory point. The US is the largest financial supporter and participator in IASB. The Extractive Industries Standard of the IFRS will likely terminate Industry Guide 7. However, the effect of this international replacement will likely be equally restrictive. This could possibly neutralise the benefit of a CMMI-based global reporting standard. SME, the US society encompassing the widest range of mining industry professionals, does not have a Code of Ethics. It has no mechanism for requiring members to abide by a professional standard. SME is presently looking into possible solutions for this deficiency. US-based professional societies that do have a binding Code of Ethics, generally cater to a single profession, and are not just mining industry related. The American Institute of Professional Geologists (AIPG) and the American Institute of Minerals Appraisers (AIMA) are examples. The SME is considering creating a subsidiary body with an enforceable Code of Ethics. To support a CMMI-based global reporting standard, competent persons will need to work across international borders. A standardised mechanism for qualifying and registering competent persons will be needed. National rules and laws must allow competent persons to easily enter countries to perform their work. State issued licenses are increasingly required for much of the work performed in the US mining industry by engineers, geologists and minerals appraisers (valuers). Such licenses are not required by the SEC for Reserve reporting in the US, may not be required for valuation of mineral properties under certain circumstances, and except for real property valuer licenses, they generally do not have a binding code of conduct. However, state licensing of professionals forms a substantial and increasing barrier to interstate trade in professional services, and can be a prohibitive barrier to professionals from outside the US. Any rationalisation of this confusing patchwork of regulations confronting US minerals industry practitioners will only occur as part of larger, national change, hopefully aimed at compliance with international standards and protocols. The US does not have a valuation standard aimed specifically at the mining industry. The Uniform Standards of Professional Appraisal Practice, the national valuation standards, often must be applied to mineral property valuation, but contains no specific instructions for minerals. The author has campaigned against development of minerals valuation standards proposed by US minerals institutes. Instead he encourages the mining industry worldwide to place its support behind the initiative of the International Valuation Standards Committee (IVSC) to include an extractive industries section in its International Valuation Standards (IVS). This should provide a global set of valuation standards for the mining and petroleum industry within two years. This addition to IVS will provide essential valuation standards reference support for the extractive industries financial reporting standard of the International Accounting Standards Board. The IVS has achieved a high level of acceptance in the developed and lesser developed countries of the world. It provides a comprehensive framework of Generally Accepted Valuation Principles for the valuation profession internationally, for valuation of all property or asset types. IVSC is effectively a sister organisation to IASB. The IASBÆs International Financial Reporting Standards (IFRS), previously known as the International Accounting Standards (IAS), reference and quote IVS in some instructions for determination of fair value. IVSC is a non-governmental organisation (NGO) member of the United Nations and maintains liaison with many important international economic, accounting and financial agencies, such as the OECD, IMF and WTO.

Jan 1, 2002

By Roberts C

The satisfactory testing and characterisation of mineralisation amenable to heap leaching, is of prime importance to successful operation of a project. This paper outlines a methodology for assessing material suitability. A general model is used for classing material types for suitability for treatment and for economic analysis. The four levels of these are overburden, oxide, transitional and unoxidised materials. During exploration, reverse circulation (RC) drilling can be used effectively to define these zones by a combination of logging, analysis and provision of cuttings for column leach and bottle roll trials. RC cuttings can he used effectively for column leach trials, when calibrated against conventional processing-sized samples, obtained from surface. Tbis allows metallurgical testing to depth and definition of transitional ore types and the base of oxidation, accurately and economically with an acceptable density of samples. The accurate prediction of base of oxidation and variations in recovery with depth and ore types can be used to develop 'economic' pit designs with zones of variable recovery. Petrological studies of leaching results and examination of mineralisation types carried out on concentrates, provide information on gold distribution and physical and chemical constraints. The examination of concentrates can be particularly useful for types of mineralisation when overall gold content is frequently at or below one pan per million. Explanation of anomalous recovery of gold grains in dense goethite and solution-robbing by carbonaceous material can be identified by use of petrological and scanning electron microscope. An understanding of the role of the host rock in leaching characteristics can also he provided by petrology where siliceous or clayey materials can require significantly different treatment.

Jan 1, 1994

The Japanese Government promulgated the æLaw Concerning Special Measures Against DioxinsÆ on 16 July 1999 and it was enforced on 15 January 2000. This is a unique law specialised to protect the environment by the control of dioxin emissions from waste incinerators and several industrial processes. In this law, a few metallurgical processes other than waste incinerators are designated as æspecified facilitiesÆ emitting certain dioxins. Thus, emission standards for dioxins to the air were set for electric arc furnaces (EAF) for steelmaking, iron ore sintering, zinc recovery from EAF dust and aluminum recycle processes. In this paper, the inventory of dioxin emissions for Japan and the recent research and development to reduce emissions from those processes are introduced. Further, some details on the formation mechanism of dioxins and future subjects for effective control of their emissions are discussed.

Jan 1, 2002

By Cousens DR, Benhamou M, French DH

Techniques appropriate to petrographic image analysis are being developed using digitized backscatter electron images of well characterized mineral assemblages obtained from a Cameca scanning electron microprobe. Emphasis is on developing descriptors for size, shape and association of mineral grains as these all convey important information concerning the nature of rocks and the processes that have operated upon them. Processes, for example, that could indicate the proximity of mineralization. For convenience, the work is being carried out on the PDP11/73 host computer of the electron micropt be, although it is recongnized that such a multi-user environment is not appropriate for practical image analysis. The eventual aim is to develop a low-cost microcomputer-based package for quantitative description of mineral textures and rock fabrics as an objective aid to the petrographic analysis of ores and host rocks.

Jan 1, 1989

The mining industry worldwide relies upon the identification of resources that can be economically developed and operated. Access to land is paramount through all stages of the exploration, development, operation and rehabilitation stages. Clear rights to use of land for the purposes of mining must be available and protected throughout the life of the project. Stable and enduring criteria for mining of the resource, once identified, are required to attract exploration and development expenditure. The purpose of this paper is to investigate the varying approaches to granting access to land for use for exploration and mining development, including the processes by which a project is approved by community and government and the time scale for such approval. The paper concentrates on the legal issues arising throughout this process. The law is stated as at September 1997.

Jan 1, 1997

By M-E Boucher

While the haematite concentrates produced in Eastern Canada and the magnetite concentrates that Australia will soon be producing are different feed materials, the pellets they produce have similar physical and metallurgical properties. This paper will examine the similarities and differences in the evolution of pellet microstructure for pellets produced from magnetite and haematite. The molten slag phase generated at high temperatures has a lower melting point when in contact with magnetite compared with haematite due to the higher divalent iron content. The presence of some slag is beneficial for bonding but too much can inhibit oxidation of magnetite, although slag generation at lower temperatures reduces energy usage. In pellets produced from haematite, magnetite is generated artificially from the combustion of the carbon particles added to the pellet feed as a source of energy. Maintaining the optimum production level and mineralogy of such æsecondaryÆ magnetite, allowing for its subsequent reoxidation, is important for the quality of haematite pellets. In both magnetite and haematite pellets, balancing the slag formation and oxidation (re-oxidation for haematite pellets) of the magnetite (secondary magnetite for haematite pellets) is necessary.

Jan 1, 2007

By Carter A. C

The increasing need for alternative energy sources as well as the less clearly perceived but equally increasing demand for non-fuel minerals has resulted in extensive exploitation of near surface deposits. Many such deposits have depleted reserves and mining corporations are increasingly turning their attention to deposits, with thicker overburden, less competent materials, steeper dips and more complex structure. These deposits pose mine layout, geotechnical and equipment problems as well as the need for large outputs to achieve economies of scale. The paper describes the major problems and operational solutions for such deposits using continuous excavation and transport equipment.

Jan 1, 1980

By Jensen B

The approach of using the Coward Triangle for the analysis of flammable mine gas mixtures has been examined for its application, to the flammability of coal dust/gas/air mixtures. Explosible lean limit and rich limit concentration data for dust/methane/air mixtures are examined and illustrated using co-ordinate geometry. It is concluded that a three-dimensional envelope representing hybrid explosible mixtures can be drawn. The dimensions of this explosive zone will vary with the characteristics of the coal dust and the gaseous composition of the mine atmosphere. Further research is needed to establish these dimensions for important mined seams.

Jan 1, 1994

By Hohnen CA, Limerick JM, Hall DRT

An uniquely-designed flash furnace for smelting of nickel concentrate and for the recovering of metal values from the slag generated has been in successful use for nearly six years. Within the last eighteen months the ability of the furnace to treat slag arising from converting operations without significant reduction in capacity has also been successfully demonstrated. Previously, converter slag had been treated separately in an electric furnace. The salient features of smelter developments are outlined and slag chemistry is discussed. The low cost method for the introduction of coal to partially replace light fuel oil is reviewed and total energy requirements evaluated.

Jan 1, 1984

Water resources legislation in Brazil is evolving in a number ways. The nature of water resource ownership has changed in the last constitution (1988) so that now all water remains the property of the state and not the individual. There is also an increasing amount of legislation to control water access from the environment and regulation over water quality for water discharged. Finally, in some regions charging for water has been introduced and this is expected to become more wide-spread over the next few years. Increasing government attention to water legislation creates an increased need for mine sites to improve water management. As a fundamental basis for this, it is necessary to make robust estimates of mine site water balances, which also requires knowledge of the regional water balance to provide context for the mine water use. A conceptual model for mine site and environmental water balance is presented. Issues associated with conventional water monitoring are discussed. It is proposed that introduction of automated monitoring to provide comprehensive and consistent data is attractive. However, there remain a number of cultural and practical impediments to purchase, implementation and maintenance of effective monitoring, which are summarised.

Jan 1, 2009

By Sehic OA

One aim of testwork and flowsheet development is to ultimately provide a reliable and flexible plant that is simple to operate and maintain. Testwork can indicate amenability of ores to CIP treatment and provide a basis for process design and economic appraisal. Batch cyanidation and CIP tests are often sufficient for small projects. Continuous multistage test rigs can be operated to simulate plant operation and to provide data for flowsheet optimisation. Operating requirements, gold recoveries and potential problem areas can be anticipated at an early stage with more confidence. Subsequent project development involving decisions on the basic flowsheet, equipment types and general plant arrangements are based on practical considerations and experience. Computer aided process modeling and economic appraisal can be useful in analysing various tradeoffs, firming up the flowsheet and equipment sizes, and in specifying operating targets for the future CIP plant. INTRODUCTION Carbon-in-pulp (CIP) technology which has developed rapidly since 1974 is now accepted as an economically and technically viable process for the efficient recovery of gold. This paper describes testwork and flowsheet development procedures used for CIP evaluation and design.

Jan 1, 1982

By A Purchase, C Stacey

The procedure for operation of deluge systems installed in road tunnels is still a subject of debate. The work undertaken in this paper assists in the understanding of the effects of deluge in road tunnels, and thus aims to help inform the development of operational policy. Analysis was undertaken using computational fluid dynamics (CFD) simulations to help explore the deluge interaction with the tunnel ventilation (including smoke exhaust) and combustion products. It was found, for the scenarios considered, that: Deluge activation can decrease the required critical velocity for smoke backlayering, and this in turn can improve the effectiveness of a smoke exhaust system.The dominant parameter for deluge effectiveness is the vehicle configuration, with shielded scenarios (such as a fire in the passenger compartment) showing almost no water reaching the fire. The water delivery rate (5 mm/min versus 10 mm/min) has only a minor effect on the smoke duct damper inlet temperatures and downstream smoke temperatures for small fires (5 MW). For large fires (50 MW) the higher water delivery rate gives slightly improved performance (lower damper inlet temperatures and lower downstream smoke temperatures). A one-dimensional transient tunnel model incorporating different operational and deluge response policies (ie deluge activation times) was developed. It was used to examine the influence of different operational parameters on life safety risk and tunnel damage risk. It was found, for the scenarios considered, that: The life safety risk for different scenarios has a sensitivity to deluge activation policy with the case of delaying the deluge activation for a long time giving the worst outcomes. However, the most critical parameters for life safety risk are operator response time (for all response activities, not just deluge) and the type of fire (configuration, size and growth rate).There is a reduction in risk of tunnel damage when the deluge is activated earlier, although the fire configuration (ie whether or not the seat of the fire can be reached) has the greatest influence on the outcome. It is concluded that the deluge activation policy should be case-dependent. It will depend on the tunnel, the safety systems provided, and most particularly the vehicles involved. The current policy in Australian tunnels is for manual activation of the deluge by the tunnel operator as soon as practical after the fire is confirmed (see also PIARC, 2007). This is a good policy. However, future work may be helpful to improve the skills of operators to make the best judgement as to when deluge should be activated, balancing all risks. This work could include research to further the understanding of deluge and fire in road tunnels, training programs and consideration of historical fire events.

Jan 1, 2008

Prior to 1975, most geochemical drainage surveys for gold were based on analyses for pathfinder elements, such as As and Cu, rather than direct analysis for gold, for two reasons. Firstly, analytical methods lacked the required sensitivity and precision to determine gold abundance at background levels in stream sediments (usually in the range 1 - 10 ppb). Direct analysis was also inhibited by concern about the potential for gross sampling error, brought about by the dispersion of gold as rare discrete particles of the extremely dense native metal. This sampling error, commonly termed the 'nugget effect' has two components: erratic distribution of the element within the stream environment, related to hydraulic factors, and the difficulty in taking representative samples, both in the field and later in sub-sampling for analysis. In more recent years the collection of very large samples was commonly advocated to overcome the sampling problem (Hams, 1982; Nichol, 1986).Two methods have been widely used to evaluate the gold content of bulk samples (Elliott and Towsey, 1989). The preparation and analysis of heavy mineral concentrates has in recent years been largely superseded by the leaching of gold contained in bulk samples by cyanide, commonly termed the BLEG (Bulk Leach Extractable Gold) or BCL (Bulk Cyanide Leach) methods. The terms BLEG and BCL are essentially interchangeable and the latter will be adopted for the remainder of this paper. The strengths and weaknesses of these two techniques were compared with conventional total gold analysis on fine fraction (

Jan 1, 1976

By Henderson N, Schaap H

In large companies with mining operations spread over multiple sites, it is essential that consistency between sites is maintained in preparing and classifying resource and reserve estimates. The endorsement by The AusLMM and AMIC of the "Australasian Code for Reporting of Identified Mineral Resources and Ore Reserves" and the subsequent incorporation of reference to the code into the ASX listing rules for mining companies has provided a basis for the consistent classification of resources and reserves. However, compliance with other criteria more or less stringent than the Australasian Code can present some reporting difficulties. Examples include listing requirements for foreign stock exchanges, particular Acts of Parliament that may apply to individual leases, constraints imposed by individual companies on their own leases, and ultimately, reserves for short, medium and long term planning. Confusion can arise when any two or more sets of reserves for the same lease are compared.. To alleviate this confusion, a standardised procedure was developed for the calculation and classification of coal resources and reserves. The procedure which is geostatistically based incorporates a technique called "Irregular Block Kriging" where specific mining blocks are directly kriged. The procedure has enabled those engineers and geologists with only a basic understanding of geostatistics to apply the technique and not feel hampered by some of the complex mathematics which in the past has tended to inhibit and overcomplicate the use of geostatistics. The procedure has resulted in "cleaner" data bases and hence more reliable reserve estimates.

Jan 1, 1990

By K Whelan

The Land Access Branch of the Mines Division of the Northern Territory Department of Mines and Energy is responsible for Aboriginal Liaison and cross-cultural matters that affect the Department. In essence, it exists to provide a basis for communication between the Department, industry. Aboriginal organisations and Traditional Owners. The paper outlines the various ways in which this is accomplished including the preparation of detriment submissions for pending land claim hearings, the use of promotional material to support access to Aboriginal Land for NTGS Mapping Programs and field work, and advice/assistance on exploration and mining issues.

Jan 1, 1994