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The Joint' Venture Method is a procedure for assessing the value of exploration properties, particularly those for which resources have yet to be delineated. It aims to convert the terms of an actual or synthetic joint venture into the equivalence of an arms- lengths cash transaction between a willing seller and a willing buyer. This paper sets out one approach to achieving that conversion. It discusses both simple and complex cases and gives some examples from both public and private documents. It also includes some case studies in which the Joint Venture Method of valuation can be compared with values derived for the same project using other methodologies including actual cash deals. The Method has failings in both mathematics and logic. However because it does reflect or simulate an arms-length deal which takes into account past exploration effort and expenditure and an assessment of prospectivity at a particular point in time, it is felt that it can provide a reasonable approximation of trade value or asset value of a prospect, particularly if used in conjunction with other methods.

Jan 1, 1994

By Walter GW

Rock mass classification systems for stable excavation design have been studied. The parameters which are important in such a classification system and those which should be included in a classification system formulated to predict explosive fragmentation behaviour are briefly reviewed and compared. There is significant overlap in the data requirements for excavation design and explosive blast de- sign. Recently there has been a trend to ob- tain some of the data required for excavation design by the use of both field and laboratory seismic investigations. The theory of seismic techniques is summarised and the results of seismic investigations carried out for excava- tion design are reviewed. On this basis it is considered that seismic techniques have the potential to be used for data collection prior to blast design. A programme designed to de- velop such techniques and which includes both field and laboratory experimentation is Presented.

Jan 1, 1978

By Durao F

A multi-layer feed-forward neural network was trained (using the error back-propagation algorithm) to learn a subset of rules designed to stabilise the performances of the copper flotation section of a complex sulphide processing plant and then tested in order to evaluate its expert performances. Two types of neural networks were compared: the classical ones, fully connected between one layer and the adjacents (with different architectures), and entropy networks, partially connected and generated according to a methodology that simplifies its building up. The advantages and drawbacks of both were analysed and compared with classic (rule based) expert systems.

Jan 1, 1995

The introduction of legal certification of mine managers is a matter of history. It was introduced as part of legislation for mine safety. It has been said that such legislat- ion was written in blood. Like all legislation this legislation is divided into three sections; commands, obligations and sanctions. While legislation in all States on this subject is similar, the differences are great enough to have prompted the preparation of a Uniform Code by the Annual Conference of Chief Inspectors of Mines. This Uniform Code has not been adopted fully by any State to date. Legal certification of mine managers has made managers more aware of the requirements of the legislation covering their industry, legislation that reads as a summary on past accidents and methods of preventing them. While budding managers spend considerable' time in their early years in the preparation for certification, history has shown that the industry has benefited from their efforts. A better knowledge of the safety acts by the managers has produced safer operations, and a higher standard of management has raised the technical standards of mining operations to a stage where Australia can be proud.

Jan 1, 1980

Proper technical appraisal of a coal deposit and the determination of optimum open- pit mine design can only be made after detailed examination of a number of interrelated geographical and geological factors. Initial evaluation of the geography and the overall attitude of the coal measures can often determine the most likely coal mining technique. Conclusions reached in the early stage of the investigations frequently dictate the quality and quantity of particular types of data required from further drilling of the deposit. In many cases, insufficient information relating to the overall engineering aspects of a coal deposit is derived from drilling. Little or no attention is paid in the exploratory phase to such things as the specific gravity of selected overburden samples, floor conditions, clay content of the overburden and selected strength tests on cores. This is a direct result of geologists treating coal deposits purely in geological terms without sufficient consideration being given to the engineering parameters required for a proper evaluation of the deposit.

Jan 1, 1977

The Lower Palaeozoic Woolomin Association is composed of chert and jasper (often radiolarian), siliceous argillite, the mafic volcanics with associated hyaloclastites, and occasional greywacke and limestone lenses. Several "Cyprus-type", conformable pyritic copper (+/- zinc and cobalt} sulphide lenses are spatially related to individual mafic volcanic units and manganiferous chert and/or jasper. The Association has been interpreted to represent an oceanic crustal remnant generated either in an island arc environment (Herbert, 1981) or at a divergent plate boundary (Scheibner and Glen, 1972; Leitch, 1974a, 1975) later to be obducted, or tectonically emplaced, into continental crust; the adjacent Peel Fault was considered to be the palaeo-obduction zone (Scheibner and Glen, 1972) and the associated alpine-type mafic/ultramafic complex, an ophiolite (Crook and Felton,1975).

Jan 1, 1990

By Braham B

The Australian mining industry isstill labouring under the impression. created by the Fitzgerald Report that it does not pay suffic- ient tax. This would appear to be the raison d'etre of the resource rent tax debate. The authors quantitatively compare the cash flows to the mine and government resulting from a large strip coal mine in central Queensland under a number of Australian and international taxation policies. The Liberal government policies are found to be internationally competitive while the Labor 1975 policy is excessively punitive. The present value of the returns to the public from the Liberal 1977 policy vary between three and six times the net present value to the mine, which belies the necessity for the imposition of a super tax. The levelling of a special royalty, excess rail freight, by Queensland could severely re- strict the development of new mines in the Bowen Basin. The impact of excessive freight rates is analysed on a combined strip-deep mine typical of the new projects nearing development in the region. Otherwise economic mines can be made marginal or even sub economic by this tax. Even with moderate rail freights, the mining tax laws of New South Wales are more favourable to the industry than are Queensland's.

Jan 1, 1978

Past and present developments in the use of blast furnace slag in the manufacture of glass are outlined. The crude slag from Port Kembla is beneficiated by the Mineral Resources Division of Australian Consolidated Industries Ltd. at Mascot using a dry magnetic separation process which reduces the iron level in the slag to an acceptable value, The chemical and physical properties of both the crude and beneficiated slag are given and compared with those of other slags used in the manufacture of glass. Slag is added to intro- duce alumina into the glass and its addition to the glass batch also results in faster melting and refining. Slag was first used in Australia in 1968 and its use has increased steadily year by year. At present about 16 000 tonnes of slag are used per year, mainly in amber and white glass. Beneficiated slag is used'in three plants to supply all the alumina required in the amber glass and in four plants to supply part of the alumina required in the white glass, the amount added depending on the acceptable iron level in the glass. Slag is also used in limited quantities in the manufacture of both dark and light green glass.

Jan 1, 1979

Coal pillar design has been based on generalised formulae of the strength of the coal in a pillar and experience in localised situations. Stress measurements above and in coal pillars indicate that the actual strength and deformation of pillars varies much more than predicted by formulae. This variation is due to failure of strata surrounding coal. The pillar strength and deformation of the adjacent roadways is a function of failure in the coal and the strata about the coal. When the pillar is viewed as a system in which failure also occurs in the strata, rather than the coal only, the wide range of pillar strength characteristics found in the UK, USA, South Africa, Australia, China, Japan and other countries are simply variations due to different strata-coal combinations and not different coal strengths.This paper presents the measured range of pillar strength characteristics and explains the reasons. Methods to design pillar layouts with regard to the potential strength variations due to the strata strength characteristics surrounding the seam are Presented.

Jan 1, 1998

In six deep hard coal mines situated in the coal district of the Saar and Lorraine, Saarbergwerke AG produce annually 9 to 10 million tons of coal. The coal is either coked or fired in power plants. Comprehensive planning work is done for the producing coal faces, 15 stone drifts and 60 seam headings. The computer can assist in drawing up the short- and medium-term planning by taking over, on the one hand, work done so far by hand and by supplying, on the other, additional information. The computer can draw up time schedules, can do quantitative calculations, can draw up plans for the em- ployment of manpower, machines and other equipment, and can calculate cost and earnings. It is ensured that all part plans are always adjusted to each other. Because of the volume of work involved, planning in this form and extent becomes possible only by the computer. Especially with the periodical continuation of planning, the new system facilitates the work to be done. The ideas of the planning engineer are and remain the basis of all planning work and the computer gives him an aid to assist him with calculations, report writing and feasibility studies.

Jan 1, 1977

The mined-out Old Waite volcanogenic Cu-Zn deposit lies in the Noranda mining district of northwestern Quebec. The deposit has a distinctive pipe-like zone of alteration beneath the massive ore, extending into the stratigraphic footwall. The hydrothermal metasomatism within the alteration pipe produced a concentric zonation. with a peripheral quartz - sericite - chlorite mineral assemblage surrounding an axial core of magnesian chlorite - Phlogopite.

Jan 1, 1989

By Williams RJ

This paper presents an overview of the design and development , application to date and potential of a real-time return gas monitoring system.Initially developed as an ACARP/Industry funded project, whose prime aim was to create a `turn-key', prototype, stand alone, real-time, Return Gas Monitoring System (RGMS) capable of providing quantitative assessments of gassiness levels on a shift by shift basis, enabling unusual gas emission patterns to be readily flagged.

Jan 1, 1998

By Craw D

The Southern Alps in the South Island of New Zealand are currently rising rapidly as a consequence of continental collision along the Pacific-Australian plate boundary. Rapid uplift has resulted in a major thermal anomaly in the shallow crust beneath the alps. Alpine topography and associated intense precipitation, coupled with the thermal anomaly are responsible for vigorous combined topographic/convective circulation of water through the shallow crust.

Jan 1, 1995

The paper outlines the philosophies and the methods applied to resource estimation by North Flinders Mines Limited at The Granites. These are based on recognition of the prime importance of quality data, accurate geological perception of the deposit, and the judgement of the estimator. With reference to one particular deposit, East Bullakitchie, the series of resources statements published over a 5 year period is compared with the corresponding history of discovery and development. The comparison Illustrates:

Jan 1, 1990

As a number of underground fires have unfortunately happened in the Broken Hill mining district, the writer trusts that a paper dealing with such a subject may prove of interest. To simplify matters, the subject is classed under three mainheadings- I Origin of fires; II Methods of subduing them; III Precautions to minimize the risk of their occurrence.Underground fires may be started in three ways - arson, spontaneous combustion, or carelessness.With regard to the first-mentioned cause, direct evidence is usually lacking to prove that any fire has been caused maliciously; Though definite proof of spontaneous combustion having been the cause of a mine fire has not been brought forward, nevertheless it should be considered, especially in the case of sulphide ore bodies of a more or less friable nature. The writer has been informed on reliable authority that in an open stope on the...

Jan 1, 1911

WITH the exception of the deposits of the Milburn Cement Co near Dunedin, Wilson's Portland Cement Co., on the Mahurangi River (a short distance north of Auckland), and those of the New Zealand Portland Cement Co., at Limestone Island, the cement. Tesources of New Zealand remain practically undeveloped. The Milburn Company utilizes a mixture of limestone and mud for the manufacture of cement, while Wilson's and the New Zealand Portland Cement companies both have the advantage of a natural cement stock which requires but small additions of highgrade limestone to give the mixture required. The plant and deposits of the New Zealand Portland Cement Co are located in Whangarei Harbour, some six miles from thetownship of Whangarei. The works and dwelling-houses are situated on Limestone Island, which, with an area of 92 acres, and rising to a height of 212 ft., supplies the bulk of the raw material required. In addition to the island, the company possesses a high-grade limestone area of, roughly, four acres, situated on the mainland, 11 miles to the south. A better location for a cement works could not well have been chosen. On the east side of the island there is a deep channel, which never shows less than 18 ft. of water alongside the company's...

Jan 1, 1911

The use of coal as a fuel for heat and power generation has a long history. During the nineteenth century most of the present combus- tion technologies were pioneered, as shown in Table 1, This period was associated with the "golden age" of coal and its contribution of almost 80% of the world's energy demands in the early,1900s . The decline in the use of coal has been due to the transfer of the heavy transportation area to diesel power, the elimination of coal as a household fuel and the substitution of oil for coal in power plants. Coal remains the major fuel for the electric utility industry and the present paper will be concerned primarily with that application. Table 1 outlines the development of coal tech- nology with the parallel understanding of coal as a material and its behaviour during combus- tion. Clearly many developments in combustion technology have occurred in this century, although most of the processes had been invented in the nineteenth century. Also, the great expanse in coal research of the past few decades has led to a greater understanding of the coal combustion process.

Jan 1, 1987

Relationships between lead blast furnace performance and the composition and size distribution of sinter were determined from analysis of lead blast furnace operating data. Sintering plant practice was subsequently modified and substantially improved furnace performance resulted.

Jan 1, 1971

The mining industry views with the utmost concern, legislative or administrative action that inherently reduces the scope for exploration activity. Is there any basis for this concern in relation to Victoria? This paper will outline the role of the Department of Minerals and Energy and the main features of legislative provisions affecting exploration effort. The practical difficulties that confront the Department and explorers alike will be examined. The importance of industry representation to influence the direction that policy and legislative review might take, will be highlighted. Above all, the paper will establish that one essential duty of government is to ensure the provision of appropriate mining titles and security of tenure.

Jan 1, 1982

The treatment of beach sands in'' the Bunbury/Capel' area for the extraction of ilmenite is a very recent development in the mining industry in'J7estern Australia. Nevertheless since the commencement of production in 1956, ilmenite has become the sixth most important mineral produced. The increasing world recognition of W.A. as a major' Iiroducer of ilmenite is due primarily ' to its low chromic oxide. ; (Cr203 content,, 0,03% to 0.04%, combined with a medium to high grade TiO2 content, 54% - 6 , supported by large reserves, a'. stable government with close access to good shipping facilities.. Ilmenite is produced from-these deposits at low-costs, enabling the industry to compete on world markets despite high rates for sea freights because of the distance from.major markets.

Jan 1, 1964