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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

This paper outlines the thermodynamic and mass balance principles which affect the distribution of cobalt between matte and slag during the pyrometallurgical treatment of nickel-copper sulphides and considers the implications with regard to maximising the recovery of cobalt from the smelting and converting circuit.

Jan 1, 1994

By Crawford J

The paper asks the question 'Why Limit the HYDROTRANSPORT of material to the confines of your washplant'.A brief historical review of widely accepted slurry transport operation establishes that we are not talking about new technology - simply applying proven experience to an innovative continuous system.The paper reviews a simple potential application and compares capital and operating costs with conventional trucking.No attempt has been made to develop a complete mine plan and the comparison has been limited to material transport costs.

Jan 1, 1992

In recent years there have been a number of excellent towns built for mining communities in remote parts of Australia. Planning has been thorough, and very large capital expenditures have been made by companies to provide high standards of accommodation, services and amenities. But so often the phrase 'company town' comes to be applied, expressing the frustrations of the residents, working for a single employer who dominates their lives, and of the company, which would prefer not to have to build and operate a town. The much-vaunted early success of some iron ore, bauxite and coal projects has led to a belief that the success of all mining projects is assured. Those holding this belief ignore the vagaries of mineral deposits and of markets, and the need to amortise large high-risk capital expenditures, much of which is spent on social and industrial infrastruc- ture. This expenditure on infrastructure does not have to be

Jan 1, 1975

By Jifan X, Yongyu W, Liangjing L

Shallow interception of groundwater is a special dewa- tering form in the specific geological and hydrogeological conditions. It has an economic and technical effect. The roof of the Fankou Lead-zinc deposit is the Hutianqun aquifer made up of the limestone of the upper Carboniferous system. - A "water-bearing basin" is surrounded by the aquifuge and the aquitard below ¦0 m level at the Shiling Hill section in the Hutianqun aquifer. Based on the natural conditions, an interception gallery is excavated at -40 m level out of "the water- bearing basin", the other gallery excavated at ¦0 m level in the poor water-bearing zone of the Jinxing Hill. During 20 years of experience, the better interception effects have been gained.

Jan 1, 1988

During mapping in the Bijerkerno area (Fig. 1), well-preserved sedimentary structures were found at three separate localities. The structures are of four varieties, which are 1. small-scale cross-bedding (Fig. 2),2. convolute bedding (Fig. 3),3. minor scour and fill (Fig. 4), and4. flame structures.Ripple-marking is also doubtfully present.These structures are best preserved in what was...

Jan 1, 1971

Because of the mineralogical complexity of nickeliferous laterites, most commercial and laboratory extractive processes require the ore to be blended to a feed of "constant" chemical composition. Even using the "constant" feed there are significant variations in processing behaviour within and between different feed lots. Chemical and mineralogical analyses of lumps of ore taken from the Yabulu stockpile of Queensland Nickel have highlighted the complex- ity of the ore making up the blended feed material. Each sample has been subjected to acid leaching and reduction/ammonia leaching tests and the results correlated with the mineralogical location of the nickel. The consequences of the variability in ease of leaching of the nickel are indicated.

Jan 1, 1978

In the future, Illawarra Coal, the primary metallurgical coal producer in the southern coal fields of New South Wales, will face many unique challenges not found in other coal or minerals production areas. To manage these challenges and determine the best strategy for the business, Illawarra Coal has adopted a systematic strategic planning process, which starts from the broadest possible options analysis and culminates in a ægo-forwardÆ operating case that individual mine sites use as the basis for short-term planning. This paper will discuss two major topics. Firstly an overview of the Illawarra Coal and BHP Billiton strategic planning processes. This will demonstrate the range of variables and inputs that are required for the planning process, and the system which is followed to evaluate different alternatives for the extraction of the resource. Secondly, having discussed the primary external and internal factors that must be accounted for in the planning process, and the main issues affecting the viability and likelihood of each alternative, the paper will discuss the particular challenges that Illawarra Coal will face in the coming decades. These challenges include: market and price uncertainty; managing impact on surface features, infrastructure and environment; community interaction; transport and logistics constraints; unknown mining environments; lack of geological knowledge; limited surface access for new mining domains; changing attitudes to longwall mining in the Illawarra; ageing workforce; and cost and overhead management. The paper intends to discuss how these issues impact the business currently and how they are incorporated into Life of Asset plans and overall corporate strategy for Illawarra Coal.

Jan 1, 2007

By Haartti J

Generally when equipment is chosen for solving a dewatering problem, the equipment is based on one of following physical methods: gravity (sedimentation, screens), vacuum (vacuum drum and disc filters, belt filters), pressure (filter presses, hyperbaric filters) and centrifugal forces (centrifuges). The choice of method and type of equipment depends, among other things, on the requirements on the maximum water content allowed in the filter cake and on the particle size distribution and the concentration of solids in the material to be dewatered. All the above-mentioned equipment has its benefits and drawbacks. The conventional vacuum filters of drum or disc type are of a simple construction with few parts to be replaced, but these filters produce a filter cake with a fairly high moisture content, and a dryer is required for additional drying. In most cases the use of pressure makes it possible to produce filter cakes with the desired moisture content but the equipment is of complicated construction, leading to high maintenance costs . In addition to this the consumption of compressed air is high. The capillary filtration to be described in this article is a dewatering method which combines the benefits of both the conventional vacuum disc filter and the filter press. The capillary filter produces low cake moistures with a machine of very simple construction similar to that of the vacuum disc filter.

Jan 1, 1993

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

A considerable debate has arisen regarding the best route for the beneficiation of iron ore. Supporters of jigging technology claim that although the technology is old, due to recent advances in jig control and a better understanding of the separation processes within jigs, it offers significant advantages over dense medium separation, especially in terms of reduced capital and operating costs and simplicity of design. Supporters of dense medium separation claim that this technology is proven to provide the best possible separation and that the gain in efficiency over the life of the plant, compared to that of a jig, will more than offset any differences in capital or operating costs. The truth is that both viewpoints are valid and that the choice is ultimately determined by specific characteristics of the ore being treated. Factors that need to be taken into account in deciding upon the correct option include the size/density distribution of the ore to be treated, the different size fractions which must be treated (lumpy or fines), differences in yield at grade, plant layout and capital and operating costs. Each of these factors will be discussed in detail and a case study for both lumpy and fines will be presented.

Jan 1, 2007

By V Sahajwalla, S Shin

Research activities to classify the quality of iron oxides have a long history but most of such activities are for the existing processes such as blast furnace or DR plant. Therefore the newly developed process, such as the COREX process, needs new standardisation although some basic functions of the new process have similarity to the existing processes. Many researchers (Hauk, 1990; Cho et al, 1998) in the field of COREX process have conducted investigations since the early stages of the process development and activities are underway for further plant optimisation. As Agrawal and Oshnock (1995) pointed out, because coke is not included in the COREX reduction shaft the strength requirement of the feed materials in COREX process will be more demanding than that in the blast furnace. This condition is similar to Midrex DR plant but the main reduction gas of COREX plant is carbon monoxide generated from coal combustion while that of Midrex DR plant is hydrogen from natural gas.

Jan 1, 2000

In many metal mines in China,the 70B2 series of fans has been used for main fans for a long time.These fans generate higher static pressures than are required for the relatively high equivalent orifices of the ventilation systems of many of the mines. As a consequence, their running efficiency is common only around 30%. The loss of power is significant.

Jan 1, 1988

By S Blackburn, T Veasey

The physical and mechanical properties of rock can be measured by a variety of standard tests, and studies have shown that there should be a fundamental connection between breakage in comminution and rock æstrengthÆ. The current study aims to develop the ring-loaded strength test, used as an industry standard for the characterisation of brittle ceramics, for determination of comminution behaviour from exploration borehole core samples. The test procedure is simple, reproducible and can yield 250 separate measurements from a one metre length of drill core. The effects of material grain size and fabric on the degree of scatter of results have been investigated with respect to the ring-loaded strength test. This study has also compared the ring loaded strength to the chevron bend test used to determine the Mode I fracture toughness. A wide range of rock materials have been studied and with further work it is conceivable that an operational work index could be obtained directly from exploration drill cores tested via the ring-loaded disc test.

Jan 1, 2000

In the first half of this century a mining industry was developed in Indonesia under Dutch colonial rule. World War II and the subsequent struggle for independence resulted in the destruction of most of the infras- tructure and much of the data. After independence, restrictions on for- eign investment and internal turmoil prevented re-establishment of a viable mining industry until the formation of the present Government after 1965 and the enactment of sound laws in 1967 to encourage foreign investment. Rebirth of the mining industry was followed initially by slow growth, but in the 1980's, spurred by the worldwide interest in gold, Indonesia has become the focus of an intense exploration boom for gold and other precious metals. 103 Contracts of Work for gold have been awarded since 1985 with Australian companies being the most predominant. Since 1985 three new gold operations have been commissioned and another two are nearing completion. Several more are undergoing feasi- bility studies. There is reason to predict that Indonesian gold produc- tion will grow to place the country in the ranks of significant producers during the 1990's.

Jan 1, 1988

By Sheer T. J

The increasing demand for underground cooling in South African gold mines has resulted in various cooling methods being con- sidered, including the use of ice. Two main areas in connection with ice cooling systems are being investigated. The first concerns the efficient and cost effective production of ice on a larger scale than previously required for any other application. The second con- cerns the transportation of ice in pipes from surface ice-making machines to underground melting sites.

Jan 1, 1988

By Robinson BW, Walker RK

Using a new highly stable automated electron microprobe analyser, detection limits for gold in arsenopyrite have been improved. Using the AuLA emission tine at 40kV and 500nA, a limit of approximately 10gpt is attained in 10- lSmins. Some unusual features of the background need to be taken into account. Several ores containing different levels of gold in arsenopyrite have been examined, and it has been shown that gold is not evenly distributed between grains (some may contain more than 1%, invisible optically), and that the grains containing gold are often zoned. Gold may be released from the arsenopy rite by weathering or by heating in an inert or slightly oxidising atmosphere.

Jan 1, 1989

By Russell J

A sustained drop in the grade of Mount Isa lead-zinc-silver ore occurred in mid 1980. It was decided to increase concentrator throughput from 200 000 to 240 000 tonnes/four week period to maintain budget metal production. To achieve this increase whilst maintaining acceptable grinding and flotation performance, crushing plant final product size had to be reduced from 100%-13mm to 1000-11.2mm. The goal in the crushing plant was to achieve a 20% increase in throughput with a 20% decrease in the top size of the product. This was achieved by operational changes to improve plant availability and optimisation of the existing crushing and screening equipment Performance.

Jan 1, 1978

The prime requirement is market, which for NZ inevitably means overseas markets. In order to be internationally competitive, the economies of scale and mechanical handling are essential. Since significant markets have not been sought, the full extent of our industrial mineral potential is not known. In general the technology exists to impart the desired quality, but at a price. Price is the main constraint, which may confine truly competitive operations to coastal situations to avoid high internal freight charges. Some commercial deposits of construction materials are being sterilised by zoning, making the costs to the consumer and country unnecessarily high. Unless management is enlightened and marketing is forceful, it can restrict growth. There is a good case to mount a search for phosphate minerals. The main growth areas are likely to be direct shipping ores like limestone, silica sand, and olivine, but in particular pumice.

Jan 1, 1978

By B R. Olsson, N Marinopoulos

To establish the design and the capacity of the Stanwell Magnesium Plant, Australian Magnesium Corporation Ltd (AMC) with Fluor Australia has modelled the operation of the magnesium plant using ARENA Simulation Modelling. The reliability model has been used to evaluate: surge capacities required between different sections of the plant; critical equipment requiring standby capacity; the number of trains required for different sections of the plant; and potential capital cost reduction options. The reliability model was established using the detailed Process Flow Diagrams, reliability information from literature and maintenance, operation and start-up experience from the Demonstration Plant. The model was run with different plant configurations to assist AMC in determining the most effective configuration to provide the production capacity at the lowest capital cost. The model was not only able to confirm the plant capacity to the independent technical expert but was able to minimise quantitative risk by minimising the quantities of hazardous materials on site. Fluor Australia provided the ARENA simulation expertise and has used this software for optimising new plant design and to establish improvements in operating plants. Reliability modelling is a normal feature of chemical plant design but is rarely used in the resource industry. The experience gained by AMC in the modelling system has indicated that metallurgical plant design can be improved by the application of reliability modelling.

Jan 1, 2002