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DCF Valuations are very important to individuals and companies involved in the mining industry. Such valuations are critical to investment decisions in relation to new and existing projects. In particular they provide fundamental information to shareholders in the event of a capital raising or takeover and to financiers supporting mining companies and projects. Also, DCF Valuations are often used to support asset carrying values in the financial statements of mining companies. This paper presents a Chartered Accountant's (CA's) perspective on the main issues to be considered in preparing, analysing and relying upon DCF methods in mineral valuations and provides some practical examples relating to key issues. The paper makes the important point that DCF methods involve making assumptions about future events and circumstances that inherently contain uncertainty which results in a valuation prepared on a DCF basis providing a range of values that are not perfect or accurate. In order that DCF valuations provide meaningful information the underlying methodology used and assumptions made must be consistent, sound and well supported. Credibility of those involved in preparing mineral valuations is vital and this paper supports the adoption of sound practices by all concerned.

Jan 1, 1994

By P Sutton

The global goal of Sustainable Development is not achievable without major changes in the way goods and services are delivered and material needs are satisfied, which requires tremendous innovation in the supply chains and life cycles in which minerals and energy processing take part. Values derived from minerals and metals processing need to be delivered with a fraction of current ecological impacts, which means removing technical obstacles to eliminating waste and emissions in the minerals cycle. The challenge is to find economically attractive ways to get there, through eco-efficiency gains in existing operations, capturing regional synergies, streamlining and greening the materials supply chain, and commercialising new process technology and new products. This paper summarises the outcomes of the Sustainable Resource Processing project, which was designed to provide a strategic analysis of what sustainability means for minerals and metals processing and how that can be effectively translated into technical and business innovation.

Jan 1, 2002

By Watt KL

Chemical anchors for use in rock bolting have been produced in Australia under licence for several years. These anchors are alternatives to the more normally used mechanical anchors and give improved anchorage strengths under some conditions, although at greater cost. Considerable development during this time has resulted in an improved sausage-type chemical anchor more competitive in price, to such an extent that its use is increasing markedly. Particular-improvements allow load application up to the strength of the bolt within 2 min, reduction in cost, self-extinguishing features in the resin, improvements in manufacturing techniques, and an improved water- insensitive casing. At the same time, smaller bolt sizes have allowed reduction in resin volumes with consequent cost reduction. At this stage several aspects remain to be improved, particularly specialty anchors for specific purposes and Packaging.

Jan 1, 1971

The space probe Magellan is on its way to Venus (May, 1989) and with its sophisticated radar systems will discover much more about our twin planet. There is tennuous evidence that Venus once had liquid water. Did it have life? Why was it not stable and why did liquid water not persist through the period of the dimmer young Sun? These are profound questions for us. We understand why Mars froze when volcanism terminated (Just as Earth will freeze one day) but could Earth boil if we continue to add greenhouse gases (Broecker, 1985). What will happen if 10 billion humans continue to use fossil carbon as their main fuel source? The Earth is warming fast and the new satellite data show that the oceans are warming faster than we thought. Is this just a fluctuation or is the greenhouse signal coming through the normal noise of climate?

Jan 1, 1990

There are a number of different mechanisms by which wetlands can immobilise the metals in mine drainage. Here, the biogeochemistry behind four of these mechanisms (adsorption, biological uptake, precipitation as oxyhydroxides, and precipitation as sulfides) is discussed from the perspective of sustainability. Moreover, treatment wetlands are considered as part of a larger system, also taking into account the source of the drainage and various aspects of the receiving waters. The biogeochemistry of different metal immobilisation mechanisms in wetlands determines what kind of drainage can be treated with success, and it also places an upper limit on the amount of metal that can be removed from the water phase per unit of time. This has important implications for the design of treatment wetlands, perhaps particularly in colder climates. A thorough understanding of the prevailing biogeochemical processes is essential when attempting to establish treatment wetlands after the closing of a mine. If a wetland is to be used as a sustainable æwalk-awayÆ solution, the anticipated change in treatment efficiency over time (as pollutants accumulate in the system) must be considered in relation to the expected changes in drainage quality. It is also important that the total metal immobilisation capacity of the wetland is not exceeded and that the integrity of the system is maintained, in order to minimise liberation of previously immobilised metals.

Jan 1, 2003

By Filmer AO

In contrast to the '50s and '60s, the period of the '80s and '90s seems likely to have low growth in demand but much greater levels of technological change. In such a climate there will be pressure on costs, productivity will continue to rise and competitiveness will be closely associated with maintenance of the most effective technology. The penalties for inappropriate investments, whether short sighted or mistakenly based on a particular view of the future, will be greatly enhanced. Accordingly, there will be a need for significantly improved anticipation of technical change and thus for better planning. Study of the funding and direction of the world's R&D effort can provide a useful input to the planning processes within industries and individual firms. Such a study also suggests some insights into the characteristics of those countries which have achieved substantial growth and high standards of living over the past two decades. These characteristics may offer significant reminders for our own development. The particular implications for the Australian minerals industry include the need for direction that is sensitive to changing market requirements and customer practice. This is not simply "more of the same." In particular it appears essential for both basic and applied R&D to provide a sound basis for the purchase and ongoing development of the new technology required to achieve international Competitiveness.

Jan 1, 1986

By Komosa T, Muir D. M

Mixtures of ammonia and cyanide at low concentrations leach gold selectively from copper-gold ores. The effects of various reagent compositions on three different ore types containing between 0.3 - 1.5 per cent Cu are reported. It is shown that the results and optimum compositions vary according to the ore, which is attributed in part to the mineralogy and adsorption of solution species on the mineral surfaces. The solution chemistry of the Cu-NH3-CN system indicates that Cu(CN)a - and Cu(CN)3 species are involved in the leaching mechanism. Rotating disc studies on pure gold and copper are reported which show that the Cu(CN)32- species leach gold at about half the rate of CN but leach copper at the same rate. The presence of ammonia retards the leaching rate further. Mixtures of Cu(CN)a3- and NH3 effectively leach gold from Telfer tailing without leaching copper. The role of ammonia appears to be to control the precipitation of copper rather than the kinetics of leaching.

Jan 1, 1991

By J Wei, X Lan, F Wang

This paper presents a quantitative assessment model for the assessment of environmental load in gold production, which is based on environmental ecology, Life Cycle Assessment (LCA) and artificial neural network. In LCA evaluation indexes include resource consumption, energy consumption, gas waste, liquid waste, solid waste and so on. Each item represents an aspect in gold production while their combination reflects the relationship between gold production and environment. In this paper an utility function of evolution index on environmental load is given by linear or non-linear transformation, which changes evaluation indexes with different dimension into an equivalent value in range of [-1, 1]. This paper also provides a new approach to make decision on the weight for quantitative assessment with the help of a three-layered artificial neural network. The proposed approach in this paper has been successfully used to a real synthetic assessment for the environmental load in gold production, which include seven kinds of different operational technologies in China. The applications prove that the new approach is successful and reliable. It provides a new tool for the assessment of environmental load of the gold production.

Jan 1, 2003

In Australia 'there are hidden deposits of gold, copper, tin, lead and zinc which can be found by drilling at reasonable expense in view of the imp9rtance of the objectives. Exploration of the prospects in mind would mean about a million feet of drilling. The purpose of this paper is to outline, in a technical way, some of the geological thinking that has been given to this matter. To do this, it is necessary to unify the wider ranging thoughts into some sort of coherent perspective and also into some sort of logical sequence. This will be done by treating first the geological subject material which is in fact, at the foundation of the exploratory scheme. With this base, the argument will be continued through a sequence of prospect thinking and brought to a conclusion in regard to the practical employment of geology in the drilling planning. In this knitting together of ideas, the discussion will be given substance by welding into the argument the reasoning that has been applied to the Cobar prospect. The New Occidental Gold-Mines are operating three mines at Cobar, and the writer is indebted to the Company for allowing the reference to be made. It is intended, as opportunity permits, to furnish further examples in later publications.FOUNDATION OF EXPLORATIONThe deposits under consideration are derived from igneous rocks, chiefly granite or porphyry. In and following the emplacement of the intrusives, the rocks have been...

Jan 1, 1946

The extraction of the values from gold bearing clay or clayey ores has always presented difficulties. A description of the successful operation of a mill working on material of this nature is here given in the hope that it will be of interest to mining engineers and metallurgists, particularly as the ore body referred to has been worked out. The methods finally adopted were evolved at the mill after the failure of 3: plant specially designed in England and sent out to New Guinea to cope with the clay by the old principle of calcining to brick followed by crushing and cyanidation. A description is given of the direct cyanidation of run of mine ore in '90 ton vats; which was finally adopted after a great deal of study and experiment. Mention is also made of the method of removing overburden in the open cut and the mining and transport of the ore from the open cut to the mill. The purpose of the paper is to record these matters while the information is still available. . .DESCRIPTION OF THE ORE BODYThe values occurred in a flat-lying lode which had slipped about half a mile down the mountain side and had come to rest in the nearly horizontal position in which it was found and worked. The thickness of the deposit varied from a maximum of about 25 ft. at the northern end to about 10 ft. at the southern end. The ore body was capped with an overburden of decomposed breccia and porphyry of variable thickness the maximum being about 65 ft. The underlying rock, or the footwaIJ of .the flat ore body was breccia locallyknown as blue breccia.

Jan 1, 1951

By Yushan Ma, Jiqing Wang, Hanyi Jia

The Hedong Gold Mine is located in the Yantai area, Shandong province, China. It is an underground mine with an annual gold output of some 700 000 grams. The orebody is located on the edge of the Wanger Shan metamorphism zone, and the hangingwall of orebodies is thus defined by a prominent set of fractures. The proximity of the metamorphism zone and the inclusion of the fracture set ensure that both the orebody and the country rocks are unstable. The main orebodies dip at an angle of between 40 to 45¦, with a strike length of 160 metres and a horizontal width of 50 metres. Surface subsidence in the area is not permitted. Cut and fill mining is usually practiced. As the mining operation proceeds to greater depths, the ore grade is diminishing and it is necessary to find a more efficient stoping method. Sublevel open stoping with sequential extraction and filling of each sublevel has been designed and applied in situ. This new mining method is called æsublevel open and fill stoping methodÆ in the mine. Experience to-date is that new mining method is satisfactory.

Jan 1, 1998

In Munich's peculiar hydrogeological conditions (water bearing sand strata between layers of impermeable clay, silt or marl) are proper functioning groundwater lowering methods of decisive importance for underground construc- tion. Shield tunnelling with compressed air has al- ready proved to be successful. In view of growing application of shotcrete tunnelling it was obvious to consider the use of compressed air even here. After a preliminary research-project the first subway section "shotcrete under compressed air" was 1979 awarded in Munich and since that time five sections have been awarded, respectively completed. On the basis of the experiences meanwhile obtained reports will be given stating the frame conditions in which this new construction method can be applied. The tunnels consist of two shells. The outer ist driven by shotcrete under compressed air. In order to keep the air overpressure low, the groundwater often is previously detensioned or partially lowered. The inner shell of watertight concrete is built under atmosperic pressure.

Jan 1, 1987

By E U. Petersen, D R. Cooke

Hydrogen and oxygen isotopic constraints on hydrothermal fluid composition from the Pliocene Boyongan and Bayugo porphyry copper-gold deposits (southern Philippines ) reveal mixing of magmatic and sea water reservoirs as the hydrothermal system evolved. Magmatic-equilibrated fluids (d18O: +8.3ë to +9.1ë; dD: -61ë to -51ë) are represented by hypersaline brines implicated in copper-gold transport and deposition. These dominate the fluid inclusion assemblage in early comb-quartz (unidirectional solidification textures), miarolitic quartz, and in K-silicate-stage quartz-K-feldspar ¦ biotite veins. Fluids responsible for post-K-silicate alteration assemblages of pyrite-clay (illite, pyrophyllite and kaolinite), alunite and smectite are represented by low-moderate salinity two-phase inclusions in co-existing quartz. These are interpreted as mixtures of evolved magmatic fluids (d18O dD: -42ë to -20ë) with evolved Pliocene sea water (d18O: + 4.0ë; dD: +4ë). The isotopic evidence for sea water involvement in the hydrothermal system suggests that porphyry emplacement and associated diatreme formation could have occurred in a submarine setting. An EXTENDED ABSTRACT is available for download. A full-length paper was not prepared for this presentation.

Jan 1, 2008

By Voorhees JS, Bureau G

To operate a mine in California requires compliance with State environmental regulations, including assessment of risks and associated financial assurances for postulated worst case catastrophic event scenarios. Carson Hill Gold Mine, an open pit, heap leach operation, completed new risk assessment catastrophic event analyses in 1988. The risk assessment was performed at the same time that a new leach site (Leach Site 3) was being designed. Leach Site 3 is located about 400 m upslope of New Melones Reservoir, which is a public recreation facility and a source of drinking water. Release of leachate (pregnant solution) or ore containing cyanide and metals from Leach Site 3 into New Melones Reservoir was considered to pose the largest risk of environmental damage.Flow failure of the ore heap, potentially induced as a result of liquefaction of the saturated portion of the ore, and/or overtopping of the leach site containment embankment due to excessive precipitation were found to be the most plausible leachate release scenarios. Yearly combined probabilities of various downstream release volumes were estimated. The release volume corresponding to a yearly probability of 0.05 percent was then used to estimate potential environmental impacts and mitigation costs. The costs include earthwork to restore the geometry of the ore heap and repair the fill slope below the Leach Site 3 containment, and impacts on New Melones Reservoir.

Jan 1, 1990

IT is most remarkable and valuable property of mediurn and high carbon steels that they should be so susceptible to heat treatment, the wide range of variability in tenacity, ductility, etc, due to the normal influence of the carbon in the untreated material being enormously inereased thereby.The physical properties of steel and other metals are much more closely related to their structure than to their ultimate analysis.For instance, we may by chemical analysis determine the carbon content of a steel to be 0.5% ; but this information alone is insufficient to enable us to say what are the physical properties of the metal.Such a steel may possess 11 tensile strength of anything from 35 tons per sq. in., with much ductility, up to 80 tons per sq. in., with practically no ductility, according to its heat treatment. A microscopie examination, on the other hand, would show the structural composition of the steel, from which its physical properties could be approximately deduced. From this it will readily be understood that the microscope has played an important part in the development of modern rnetallurgy, and to-day it is in daily use for the examination of metals and alloys in the laboratories of most works dealing with the rnanufaeture and working of metals.THE IRON-IRON CARBIDE EQUILIBRIUMTo understand fully the mode of occurrcnce of the different constituents of a knowledge of the Iron-Iron Carbide equilibrium diagram (Fig. I) is essential to heat-treat steel successfully and to interpret microstructures correctly such a knowledge isabsolutely indispensable.A portion of the Iron-Iron Carbide Diagram, dealing with steels below 1000 and containing up to 1 carbon is given below.It should be noted that the diagram deals entirely with pure carbon steels, and does not indicate the influence of the usual so-ealled "impurities" present in all commereial carbon steels...

Jan 1, 1926

The paper presents two methods for periodical identification of the dependence between haulage speed and loading torque of the shearer for periodical corrections of control algorithms. These algorithms are useful for working with small microprocessor-based systems. The paper is concluded with results of identification using above methodsand with discussion about their merits and demerits. The longwall mining system is the basic exploita-tion system used in coal mining in Poland. The quantity of coal produced by this system, using a shearer loader as a cutter-loader machine is esti-mated at 170 million tones per year. For this rea-son scientific research concerning these machines is of major practical significance.

Jan 1, 1985

By Segnit R. E

Two suites of dusts (waste-heat boiler and electrostatic precipitator) collected in 1976 and 1980 from the Kalgoorlie nickel smelter were subjected to chemical and XRD analysis and were examined by SEM and optical microscopy. The spherical to sub-spherical particles contained oxide and glassy phases with small amounts of sulfide. XRD showed that the major phase was a mixed Ni-Fe oxide spinel with some hematite. These phases compared well with those predicted by thermodynamics. The particle size distributions showed that in the 1976 and 1980 suites 20 per cent by weight was respectively coarser than 60 and 115/lm (boiler dusts) and 40 and 30/lm (precipitator dusts). Maximum particle sizes estimated from sedimentation chamber theory were found to be in reasonable agreement with the maximum sizes found in the dusts.

Jan 1, 1984

A continuing demand for exploration geologists, at a level well below that during the mineral "boom" of 1967-1971, will be highly selective. The exploration geologist must be more than the traditional geologist whose primary function has been detailed description of rocks and their recording on a geological map. He must be capable of 1. reconnaissance recognition of favour= able environments for ore mineral concentrations, 2. application and interpretation of techniques of search and evaluation, and 3. evaluation of economic, technological and political interactions that combine to make an ore deposit. Universities have an obligation to their students to provide them with a saleable skill, to educate them so that they can cope profess- ionally and socially, and to provide a mechan- ism by which education can be a continuing process. Humanistic and social studies, develop ment of communication skills, understanding of economic and management principles, ability to assess rock properties that influence extract- ion and beneficiation, and a knowledge of technological developments and limitations are necessary parts of the exploration geologist's

Jan 1, 1974

Coal mining safety and health legislation is more than typical of safety legislation which has been born of adversity. Indeed, in the main it has been the child of disaster. Requirements which now appear obvious were indeed only occasioned by either social injustice or more commonly by great disasters. Even then changes were often made only after months or years of deliberation by committees. Early mining legislation in New South Wales benefited from the experience in Great Britain. The pioneers of our industry were miners from there and brought with them the basic British legislation, so we started with knowledge gained the hard way. A review of accidents statistics provides a measure of the effectiveness of mine safety legislation, but unfortunately rules cannot control human nature. Miners, managers and inspectors must work as a team to make mines safe and new legislation in New South Wales is planned to this end.

Jan 1, 1975

By Lumley G. I, Hayes H

Non-intrusive methods for the reliable determination of dragline bucket and rigging performance have been achieved using physical modelling. Modelling offers a logical first step towards developing mathematical simulation models. The process of physical modelling has been applied successfully to predict dragline bucket performance and capacity as well as to demonstrate the effect of varying dump rope length on performance. ACIRL's Surface Miming Group has used physical modelling to carry out dragline bucket sizing for a new high productivity bucket and compared performance with Throng Coal's existing dragline bucket. The predicted bucket performance has since been confirmed in the field using dragline monitoring techniques.

Jan 1, 1992