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By R J. Soriano, S Ciutina

The Masbate gold deposits are situated on the island of Masbate, 350 km south of Manila. A new plant was commissioned in April 2009. The grinding circuit consists of one semi-autogenous (SAG) mill Ø9.75 m × 4.27 m, two ball mills Ø5.6 m × 7.1 m and a pebble crushing circuit, which is usually called a SAG-ball mill-crusher configuration. The SAG mill was originally equipped with radial pulp lifters. The mill runs at fixed speed of 10.9 rev/min, which is approximately 80 per cent of critical speed (per cent CS). Due to the high speed of the mill the original radial design pulp lifters presented a high volume of recirculating load inside the chamber and consequently heavy wear on the outer circle (bottom pan).In order to address the high wear on the pulp lifters a number of avenues were considered in early 2011. The chosen solution was to change the geometry of pulp lifters from radial to curved design. The pre-existing drilling pattern on the discharge end of the mill was a major constraint. A number of designs were considered. The selection of the most suitable option was to be made based on 3D discrete element modelling (DEM) and smoothed particle hydrodynamic (SPH) simulations.The original radial design and two potential solutions for curved pulp lifters were simulated with 3D DEM and SPH software. The main three objectives were predicting the charge dynamics, the expected wear patterns and discharge efficiency. One of the solutions was chosen and implemented during 2012.Observations carried on after installation of the curved pulp lifters have confirmed, as expected, a reduction in wear intensity on the outer pulp lifters. In addition to this, at early stages of operation with curved pulp lifters, the mill operator noticed a reduction in energy consumed by the mill with no detrimental effect on mill performance.This paper is intended to further study the effect of curved pulp lifters on mill energy consumption.CITATION:Ciutina, S and Soriano, R J, 2014. Curved pulp lifters – can they save energy?, in Proceedings 12th AusIMM Mill Operators’ Conference 2014 , pp 109–116 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Sep 1, 2014

By A Hall, D Kratochvil, P Littlejohn

Economic recovery of gold from complex gold ores, including poly-metallic deposits, is impacted by the presence of cyanide-soluble base metals. These base metals can create both a metallurgical challenge plus waste handling and disposal challenges. Base metals such as Cu and Zn compete for the cyanide reagent and often increase the total cyanide consumption to the point of making precious metals recovery uneconomic. In addition, the accumulation of base metals in cyanide solutions represent a challenge for cyanide detoxification and waste water treatment as these metals report to waste sludge. Such sludge requires safe handling and disposal, with possible long-term liabilities.Base metal interference can be removed with sulfidisation-acidification-recycling-thickening (SART) process technology. SART liberates the base metal from the cyanide complex and precipitates the metal as an insoluble sulfide product that can be recovered as a commercial grade concentrate. With the base metal precipitated, the cyanide can be regenerated as free cyanide and recycled to the gold extraction circuit.BioteQ completed laboratory testing for two projects, one employing cyanide leaching of copper-gold sulfide flotation concentrate and one employing a Merrill Crowe process, to determine the effectiveness of SART to remove and recover Cu and Zn in high-grade sulfide concentrates and to reduce the impact of cyanide-soluble metals on gold recovery and cyanide consumption. This paper will provide an overview of the testing methodology and results along with a review of the potential for SART to be applied to complex gold ores with poly-metallic deposits to improve project economics, operability and waste management.CITATION:Littlejohn, P, Kratochvil, D and Hall, A, 2013. Sulfidisation-acidification-recycling-thickening (SART) for complex gold ores, in Proceedings World Gold 2013 , pp 149-156 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Sep 26, 2013

By C V. Deutsch

"Geometallurgical variables often cause problems to conventional geostatistical workflows. There are many variables; some are compositional and some are non-additive. They often show: complex multivariate relationships undersampling relative to conventional grade variables unequal sampling; that is, all variables are not available at all data locations.A variety of approaches have been developed over the years, but geostatisticians remain mostly focused on modelling rock types and a few grade variables with an abundance of data. The problems are reviewed and a chained workflow is presented where appropriate techniques are employed in sequence to permit reliable spatial prediction of geometallurgical variables. The spatial models may be used to assess the value of additional data, for prediction of process performance, for improved mine planning and other optimisation tasks. The chained workflow will include data transformations such as ratios and normal scores that make the variables amenable to geostatistical modelling. Data imputation techniques to account for missing values are considered with special consideration to spatial correlation with the available data. Decorrelation techniques such as the principal components, min/max autocorrelation factors and projection pursuit multivariate transformation are employed to manage massively multivariate modelling. Full distribution modelling must be considered to avoid biases in the prediction of non-additive variables. The post-processing of geometallurgical models must be streamlined for robustness and efficiency. The precise workflow varies according to the specific purpose of the study. Guidelines and thoughts on best practice are presented.CITATION:Deutsch, C V, 2013. Geostatistical modelling of geometallurgical variables - problems and solutions, in Proceedings The Second AusIMM International Geometallurgy Conference (GeoMet) 2013, pp 7-16 (The Australasian Institute of Mining and Metallurgy: Melbourne)."

Sep 29, 2013

By P Breuer, A Simons

The sulfidisation, acidification, recycle and thickening (SART) process is currently being used at NewcrestÆs Telfer Gold Mine to recover cyanide and copper from the cyanidation tails of the pyrite concentrate carbon-in-leach (CIL) process. While the process has been effective at attaining high recoveries of cyanide and copper, the Telfer SART plant has experienced higher than expected sulfide additions to achieve these recoveries. This paper details the results of surveys on the Telfer SART plant, which show that residence time appears to be causing the high sulfide consumptions. The paper also details the results of laboratory scale experiments which confirm the observed residence time impact during the acidified stage of SART.CITATION:Simons, A and Breuer, P, 2013. The impact of residence time on copper recovery in Telfer Gold MineÆs cyanide recycling process, in Proceedings World Gold 2013 , pp 189-196 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Sep 26, 2013

By M Watkinson

Tube bundle monitoring systems have come a long way from their first introduction to coal mining in the late 1960s/1970s. Early developments in the United Kingdom (UK) commenced with single gas analysers (carbon monoxide) and quickly moved towards introducing oxygen analysers and methane analysers for improved analysis, in particular the calculation of air-free results. Recommendations were made in the early days as to how and where to run tubes and on the matching of sample pump and purge pump pressures. Current Australian installations are commonly based on a four-gas multianalyser, infrared for carbon monoxide, carbon dioxide and methane, and paramagnetic for oxygen. These systems are controlled with programmable logic controllers (PLC), with component monitoring as an integral part of the software. This paper discusses the development of tube bundle systems from the 1960s to the current date and looks at the advantages and disadvantages of the installations, along with making operational recommendations to be considered with the siting of the analyser building, running of tubes and maintenance of the system.CITATION:Watkinson, M, 2015. Developments in tube bundle gas monitoring, in Proceedings The Australian Mine Ventilation Conference, pp 259–266 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Aug 31, 2015

Responsibility for the administration of mineral resources is divided between federal and provincial governments. The paper traces the evolution of mineral policies at both levels of government, from the end of World War II to the present. In the immediate post-World War II years, the emphasis was on supplying the raw material needs of a rapidly growing world economy. Policies favouring growth and development of the Canadian mining industry were instituted during this period. Two decades of uninterrupted expansion (the 1950s and 1960s) ensued. The decade of the 1970s was a turbulent one for Canadian mineral producers. Governments intervened more substantially than ever before. Moreover, the industry suffered from an intense period of competition for resource revenues by the two levels of government. At the same time, far reaching changes were taking place in the structure of world mineral markets. To date in the 1980s, the mineral industry has, perforce, adapted to existing mineral market structures. Mineral policies, too, have shown signs of adapting to the needs of the mineral industry. Whether the resulting mix of policies will permit the revitalization of the Canadian mining sector remains to be seen.

Jan 1, 1986

By A A. Roberts, R F. Dewhirst

"Extensive literature surveys, research in the project environment and personal experiences both within and consulting to project teams have revealed some consistent ‘people factors’ that contribute most to ultimate project success. Outside of purely technical and business case issues, there are a small number of leadership characteristics – probably only ten – that if correctly applied can positively leverage a team’s impact on project success.Of the top seven project success characteristics that were consistently highly rated in a recent study, five of them were around leadership. The authors have focused on this topic, noting that good leaders need to display the following traits:passionate commitment to deliveryconsistent modelling and reinforcement of correct values and behaviourfocus on managing relationships well and energising teams and individualscarefully clarifying project vision from front-end loading stages onwardseffective decision making.Not every project manager can and does practise these behaviours all of the time, but being aware of them and receiving training or facilitation in improving their application of these skills can equip project managers with the essential tools to markedly improve their own performance and that of their teams.This paper draws upon experiences in the field and provides lessons – both good and bad – to illustrate. As well as examining leadership traits, the way in which a leader can establish, organise, motivate his or her team and ultimately lead them to success is examined. The paper shares methodologies that have been successfully used to track status within a team and generate appropriate recovery plans where required.In particular, the paper will examine a case study based on an amalgamation of real project issues in some challenging situations using virtual teams (ie physically distant teams located in different centres) to illustrate the importance of strong and positive leadership in achieving success across geographies, time zones and languages.CITATION:Roberts, A A and Dewhirst, R F, 2016. Leadership in projects – a recipe for success, in Proceedings Project Evaluation 2016, pp 49–58 (The Australasian Institute of Mining and Metallurgy: Melbourne)."

Mar 8, 2016

By H Jones

Closure cost estimates may be generated at any stage of a mining operationÆs life; commencing with the initial prefeasibility studies and continuing through to the final decommissioning cost estimates. However, not all mine closure cost estimates are necessarily the same. Cost estimates will vary depending on the purpose for which they are prepared, the organisations requiring or undertaking the estimate and the stage of the mining operation. Different organisations can legitimately arrive at disparate cost estimates for closing the same mine because the organisations have different reasons for requiring the estimates. Another, equally valid, reason for potentially wide variations in cost estimates by different organisations on the same mine site is the different definitions of æclosure costsÆ used by different estimators. This paper considers the different approaches by different organisations including operating companies, government authorities and financial organisations and uses a hypothetical example based on practical experience to illustrate some of these differences in estimation methods.The paper suggest that a more consistent approach to closure cost estimating in the Australian mining industry would assist mining companies, governments, the accounting industry and the broader community to better understand this complex component of mine planning. One possible approach to closure cost estimating is briefly outlined.CITATION:Jones, H, 2012. Closure cost estimation - All things to all men?, in Proceedings International Mine Management 2012, pp 115-124 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Nov 20, 2012

By E Lima, D Gregory, C Faria, A Lapworth

Open pit mine enterprises are complex systems that depend on multiple parameters such as mineral grade distribution, geotechnical characteristics, economic conditions and engineering requirements, all of which vary in time and space with a different degree of uncertainty. The unpredictable nature of these inputs imposes a risk to mine owners and shareholders which in the worst case can lead to highly undesirable financial outcomes.Desktop studies commonly examine a set of scenarios based on adjusting variables such as commodity prices, mining costs, processing costs, and metal recoveries to understand their relative impact on the economics of a project. It is less common to systematically explore and simulate hundreds of alternative physical designs to understand and compare the financial risk associated with one or more mining projects.This paper presents a risk assessment tool set and methodology that uses web based cloud computing to enable multiple simulations of mine designs to be rapidly and efficiently executed. The methodology includes generating random sets of prices and costs values within their respective probability distributions. Pit designs are then created to maximise the profit for each set of input variables. Various approaches to analysing the results are discussed. Use of the same high performance computing environment for understanding the financial risk associated with the variability of the underlying geological resource model is also discussed, with provided examples using case studies from two of the major mineral producers.CITATION:Lima, E, Gregory, D, Lapworth, A and Faria, C, 2014. Simulating extraction shapes to understand financial risk using high performance computing, in Proceedings Orebody Modelling and Strategic Mine Planning Symposium 2014 , pp 351–360 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Nov 24, 2014

By S Love, M Anderson, M Boland

"The high rate of failure of new mine developments to meet feasibility study expectations has been the subject of many fine technical papers. Yet failure rates remain stubbornly high.Similarly, the common occurrence of disastrous acquisitions resulting from failed due diligence on projects is well known. Yet such mistakes continue to be made.The authors argue that project and due diligence failure are caused at least partly by cognitive biases. These biases pervade decision-making throughout project evaluations.A wider understanding of these biases (and their effects) is necessary. Only then can mitigating actions be taken.The opportunity for this wider understanding exists. A number of best-selling books have been published on the topic in recent years. With wider understanding of key concepts and terms, cognitive biases can be recognised and discussed. They can also be challenged and mitigated.The authors believe that these concepts should be entry-level, required knowledge for anyone evaluating, developing, reviewing or financing mining projects.Perhaps the most prevalent biases in project evaluation failure are the ‘over-optimism’ biases. In particular, the planning fallacy and confirmation bias.The anchoring effect is also pervasive. This bias propagates unrealistic assumptions from scoping and prefeasibility studies through to so-called definitive feasibility studies. Unrecognised anchoring biases also undermine the validity of many ‘independent’ due diligence reviews. They are also prevalent in corporate acquisitions.The availability heuristic refers to a mental shortcut that can lead to a number of biases. One of these is the narrative fallacy. The mind constructs coherent narratives and opinions, regardless of the amount and quality of the information that support them. Narrative fallacy commonly occurs in the evaluation of social and political risk. Another is disaster neglect, which is especially common in the failure to assess risks associated with tailings management.This paper outlines the relevance of these biases to mine project evaluations. It also provides examples where the authors have observed their effects.CITATION:Love, S, Boland, M and Anderson, M, 2016. Influence of cognitive biases on project evaluation, in Proceedings Project Evaluation 2016, pp 226–235 (The Australasian Institute of Mining and Metallurgy: Melbourne)."

Mar 8, 2016

By B Dodd

This paper details how the Australian Securities and Investments Commission (ASIC), as a disclosure and conduct regulator, approaches regulation of continuous disclosure, capital raising and control transactions in the mining and resources sector, and the reasons for the approach. In examining this topic the paper considers the Joint Ore Reserves Committee (JORC) Code (JORC, 2004), the VALMIN Code (VALMIN Committee, 2005), the relevant ASX Listing Rules and the relevant provisions of the Corporations Act 2001 (Corporations Act). This paper discusses ASICÆs approach to expert reports and disclosure with reference to Regulatory Guides 111 Content of expert reports and 170 Prospective financial information.CITATION:Dodd, B, 2012. Issues in capital raisings and disclosure, in Proceedings International Mine Management 2012, pp 3-14 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Nov 20, 2012

By S M. Stewart

Industry, especially extractive industry, must now give serious attention to the impact its operations have on the natural environment and on the economic, social, and cultural context within which it operates.   While this obligation is statutorily managed, there has been a recent shift towards a culture of self responsibility. Industry is now talking about earning its ôsocial licence to operateö and the importance of maintaining the ôtriple bottom lineö, thus adding environmental and social performance to the usual financial criteria used to measure organisational performance. The social context within which companies operate has also become more sensitive with industry responding to a growing public expectation that it conduct itself in a way that strives for sustainability by operating and developing in a way that meets the needs of the present without compromising the ability of future generations to meet their own needs.   There are glowing accounts of industries engaging and collaborating with the communities within which they are based. In amongst these are also some disasters which result from cultural assumptions, industry created dependencies and the failure to attain community buy-in despite significant investment by the industry involved.   There are also remarkable stories of communities, and action groups within communities, being a significant catalyst for positive change of their natural, cultural and social environment. In amongst these stories there are also accounts of long and drawn out battles; adversarial situations where no one wins; a litany of mistrust, tricks and tactics, with the better resourced party ultimately achieving its primary objectives at the cost of the other (and at the cost of any potential fruitful, mutual relationships).   So what makes the difference in achieving the positive rather than negative outcomes? The answer lies in the way the outcomes are achieved. Building relationships based on good communication, respect for divergent views, mutual understanding, and the development of trust and empathy, makes it possible to identify shared goals and objectives that best meet the needs of all parties.   Research indicates the mining industry is making good progress in developing policy and commitment to community development and engagement but that, ætranslating commitments into improved practices at the site level remains one of the industryÆs toughest challengesÆ. (Australian Government - Community Engagement and Development Handbook October 2006 @ page 49.)   This paper considers the merits of a process of community collaboration and what it has to offer in terms of meeting that challenge.

Jan 1, 2007

By Y Yang, J Skrypniuk

The Jinfeng mine is Sino Gold's flagship project and is the second largest gold mine in China. Sino Gold Limited (SGL) holds 82 per cent equity in the Sino-Foreign joint venture Sino Guizhou Jinfeng Mining Limited (SGJML) with a Chinese partner. Jinfeng is located in a relatively remote site in southwestern Guizhou province. The orebody is considered to be the largest known Carlin type deposit in China. Jinfeng Plant has the world's third largest BIOX« bacterial oxidation facilities (790 t/d), treating highly refractory concentrate generated from crushing, semi-autogenous grinding (SAG) and ball milling and bulk sulfide flotation operations. The Jinfeng Plant construction started in February 2005, commissioning was completed in April 2007, and commercial gold production was achieved in September 2007. This paper describes the successful operations of Jinfeng Plant over the last two years. The key events of the project development are described, from the project background and process design, through to the commissioning and achieving design mill throughput of 3600 t/d resulting 180 000 ounces of gold per year. Process aspects of the BIOX« and carbon-in-leach (CIL) operations over the last two years are discussed which illustrate a very high BIOX« oxidation rate (more that 97 per cent) and excellent CIL recovery (more than 96 per cent). The management of the Jinfeng plant CIL tailings detoxification and filtration is described, and Jinfeng has became the first BIOX« processing plant to have achieved dry stacking of detoxified and pressure filtered CIL tailings. Current efforts to recover cyanide from CIL detoxified solution and the achievement of a zero discharge site water balance are also introduced. Many improvement projects have been made over the last two years which have culminated in a 15 per cent increase in mill throughput over the design and BIOX« CIL recovery increasing from 92.5 per cent to 96 per cent. Significant operating cost reductions from lowered of acid, lime and cyanide usage through process modifications and technical innovations are discussed.

Jan 1, 2009

When the Mining Bill came before the Victorian Legislature not so many months ago, the question arose whether mining managers required education, and to what extent. Some members of the House expressed themselves in a way which appeared to leave the impression that mining managers would be all the better if they were not brought up in a scientific school.To try and prove what we owe to science I will give a short history of colonial mining from the earlier period to the present time and compare results.I believe I am right in saying that South Australia is the pioneer colony in mining and to her belongs the credit of not dnly being the first mining colony, but also that her beginning turned out so successful, as the history of the Burra Burra copper mine will testify. At about the same time a little galena mining was carried on nearer to Adelaide, but as this did not prove a success and was only worked by tributing parties, little notice was taken of it.

Although AustraliaÆs coal mining industry is currently experiencing a pleasing period of price relief, long-term trends toward lower real prices will surely continue. Higher price levels attract expansion by existing operators and market entrance by new operators. History clearly demonstrates the relentless long-term march toward ever lower real prices. Therefore, the need for economic returns applies constant pressure to improve productivity. To be sustained, high productivity requires a systematic response based on a solid understanding of critical productivity determinants. The most powerful determinant of productivity is now widely understood to be workplace culture. Culture largely comprises a combination of behaviours, symbols and attitudes. This paper will examine and review scienceÆs latest discoveries in human behaviour. It will provide a proven, practical framework for understanding behaviour and applying this knowledge. Significantly, it will highlight why conventional approaches toward improving productivity often provide disappointing economic returns. The modern understanding of behaviour factors will cover coal face operations. More importantly, because executive and managerial levels in coal mining have significantly greater impact on industry and mine productivity the paper will concentrate on leadership. Particular emphasis will be placed on use of modern systems and in particular use of what are by far the most powerful drivers of behaviours û measurement, analysis and reporting systems. The paper and presentation will show how conventional systems rooted in antiquated American legislation from the early 1900s stifle productivity improvement and drive suboptimal and even counterproductive behaviours. These commonly used systems will be compared with accurate and effective modern methods for assessing performance to improve productivity. These principles are proven in all industries and effective application in mining will be highlighted. Actual results will be used to demonstrate practical approaches successfully applied in both metal and coal mining in Australia and overseas.

Jan 1, 2005

By R Van Laeren, G Langerak, S Fityus, K Koosmen

Co-disposal of partly-dewatered mixed-plant rejects (MPR) from coal processing into spoil dumps is gaining favour amongst Australian coalmine operators in preference to conventional tailings disposal methods which require a tailings dam. Owing to their often low permeabilities and high degrees of saturation, MPR materials may be prone to the development of excess pore pressures when covered by spoil during routine dump advancement. The likelihood of dump failure will increase if these pore pressure regimes and the associated delay of shear strength development are not accounted for during waste dump design. To date however, little is known about these pore pressure regimes due to the complexities associated with their in situ measurement.This paper describes the in situ measurement of pore pressures in a cell of MPR placed within a coalmine spoil dump. Four vibrating wire piezometers (VWPs) were placed within a cell that was then filled with MPR and allowed to consolidate under self-weight before advancing an adjacent tiphead across the cell. The VWPs recorded the transient pore pressures during MPR placement and dump construction, and their interpretations are described within the context of laboratory measured parameters. Following analysis of the measured pore pressures, their implications on shear strength and dump design are also discussed.CITATION:Koosmen, K, Langerak, G, Simmons, J, Fityus, S and Van Laeren, R, 2015. Field measurement of transient pore pressures within co-disposed processing rejects placed in a spoil dump, in Proceedings Tailings and Mine Waste Management for the 21st Century, pp 63–72 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Jul 27, 2015

By R Jacobs, J Yeates

"The Stockman base metals project is situated in State Forest in the alpine area of East Gippsland, Victoria, adjacent to a National Park and within the headwaters of a major Ramsar-listed wetland catchment and the Murray-Darling River system. Site topography is steep, and elevated (650 m – 1200 m above sea level), and subject to circa 1 m annual rainfall, with occasional winter snowfall. The project consists of two volcanogenic massive sulfide (VMS) deposits to be mined by underground methods and treated in a 1.0 Mt/a central concentrator to produce copper and zinc concentrates for export over a ten year operational life. New resource projects are rare in Victoria. Recognising the sensitive setting, planning for the Stockman Project, which is now in the advanced permitting stage, has focused on balancing economic, environmental and social outcomes to ensure social licence to operate is secured and can be maintained. This has involved close attention to triple bottom line (TBL) risks and outcomes. Stockman has successfully gained State and Federal approvals via the Environmental Effects Statement process. The process of obtaining these approvals has required close attention to effective stakeholder involvement, and management of a lengthy and difficult approvals process, which is still to be finally concluded. This paper is a case study of the process of that permitting and the issues encountered to date. Key learnings from the experience have included: successful approvals require close attention to much more than just the project and its technical aspects and physical setting – effective stakeholder involvement and endorsement is critical the differing consultation requirements for local, regional and government stakeholders, to design and plan implementation of a project to meet TBL objectives, and to gain social licence to operate within the Victorian approvals process, the need for an effective lead government agency with policy authority dealing with material policy change requiring post-closure financial sureties estimating realistic permitting time and cost during the project evaluation phase. CITATION: Jacobs, R and Yeates, J, 2016. Stockman base metals project – sustainability, social licence to operate and permitting lessons learnt, in Proceedings Project Evaluation 2016, pp 98–110 (The Australasian Institute of Mining and Metallurgy: Melbourne)."

Mar 8, 2016

By C Dick

Over the past three decades, mining operations have seen a significant increase in the use of contractors for mining, camp management and catering, recruitment, maintenance, power management, and commissioning. More recently contractors have been engaged for stores and logistics, OH&S, environmental, exploration, training etc. In some countries, such as South Africa, the trend is towards total outsourcing of all aspects of a mining operation which is coordinated by the owners’ management team.During the Global Financial Crisis (GFC) more Australian companies considered and/or took on this approach to recruiting for both projects and operations as mining companies were forced to rethink their corporate strategies as commodity prices plummeted to low levels, pushing operations and projects into potentially financially unviable territory.This paper discusses the labour recruitment, commissioning and operating strategy of Western Areas NL (WSA), with the assistance of Independent Metallurgical Operations Pty Ltd (IMO), as it progressed construction, commissioning and operation of the Cosmic Boy nickel concentrator at the Forrestania Nickel Project during and post GFC. The use of IMO contractors allowed Western Areas to mitigate labour cost risk during the uncertainty caused by the GFC and let their management team focus on the task of bringing a new operation into viable and profitable production.

Aug 8, 2011

By White A. H, Gillies A. D S

In recent years the Australian gold industry has gone through a major expansion phase. The need for finance has led to adoption of different approaches such as the well known gold loan, forward selling, equity participation by suppliers and equipment leasing. During early periods of the expansion, significant new equity was raised chiefly for high risk exploration ventures. The major form of new equity finance was ordinary shares, often in 'No Liability' companies. The increasing capital requirement of the huge new development projects of the 1980s also spurred the use of debt finance. This trend was accelerated as high inflation and the taxation advantages of debt finance made borrowing attractive. This paper reviews major financing techniques used by the Australian gold industry with particular emphasis on the innovative financing techniques initiated recently. An analysis has been undertaken of the effects on the industry of issues such gold loans, forward selling, equity participation by suppliers, fly-in fly-out operations, contractor mining and equipment leasing. In order to achieve a better understanding of the innovative financing techniques, a survey of already published financial data from well known Australian gold mines was carried out. Data was collected from various published financial reports of gold mining companies. In addition, a questionnaire survey was sent to gold mining companies to assist the collection of further information. The results of this study show that there are a significant number of gold mines variously using gold loans, forward sales, contractor mining and fly-in and fly-out arrangements to finance their projects. Only four operations have vendor suppliers investing capital funds in their projects. Based on the findings of this study, conclusions and recommendations are drawn that these approaches are likely to be with Australian gold industry for some time in the future and will continue to be intensively applied to finance gold projects.

Jan 1, 1994

By C T. Portelli

Belt conveyor transfers are the most likely location for high wear rates and failures. Belt transfers are necessary to change the direction of conveyed material and will remain a part of belt conveyor systems into the future. Burden being accelerated due to fall and changes in direction from one system to the next, prevents steady state flow which introduces component fatigue. The conveyor belt is considered the greatest cost item over the life of a belt conveyor system and consumes considerable downtime to replace, therefore a financial incentive exists to preserve this high-cost item. Other issues created at the transfer include health risks of uncontained dust and product losses due to spillage. Additional consideration to support the belt is one way to improve the life of components and contain dust within the transfer chute. The humble impact cradle/bed has changed little over the years whilst conveyor systems have achieved ever greater flow rates. Further development of the impact cradle is an opportunity to reduce maintenance costs and increase uptime. The peak technology on the market for conventional impact belt support is the dynamic impact cradle, which ensures the belt support area under the chute allows for some dynamic travel, whilst also maintaining a consistent skirt board area. The impact energy at a transfer when installed with Kinder Australia’s dynamic impact belt support system was measured to further understand the forces involved and how they compare with static belt support systems. Adding further dynamic capacity to the load zone has been shown to increase belt life by at least 30 per cent. Other components also benefit from reducing impact energy in the transfer and the incorporation of polyurethane bushes at roller supports has been employed further increase roller and frame life. Kinder Australia has developed a unique and innovative range of belt support technologies that further promote dynamic travel whilst maintaining a consistent skirt board area without a significant increase in belt-friction tension. This technology combines slider rails with rollers that can absorb impact independently within the support system and/or utilising exotic slider materials to overcome high belt speeds and/or system capacities. Kinder Australia has a vast library of documented case studies and application data to ensure the future systems being offered will survive, provide better chute sealing and protect the conveyor belt.

Sep 18, 2023