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By K. Liddell

Current practice for the recovery of platinum group metals (PGM) from flotation concentrates is by energy-intensive smelting processes followed by separation and refining of the base and precious metals. Energy costs are rapidly increasing in South Africa and this trend is forecast to continue in future years. Moreover, the smelting operations are highly susceptible to deleterious constituents, particularly chromite; and the increasing tonnages of UG2 chromititic ore being mined results in an increasing chromite content of smelter feeds. Hence there is a substantial incentive to assess and implement alternative processes to smelting for the treatment of PGM concentrates. The Kell process is a patented hydrometallurgical alternative to smelting that is totally insensitive to the chromite content of the feed concentrate and comprises three commercially proven unit operations (pressure oxidation leaching of base metals and sulfur, roasting and chlorination of precious metals). The Kell process provides the opportunity for existing and new PGM producers to significantly reduce their energy consumption, and in particular their consumption of electricity, by removing the need to smelt PGM concentrates. Energy costs, greenhouse gas emissions and installed power requirements are also much reduced. Compared with smelting and refining these reductions are calculated as: ? Total energy consumption-50% reduction ? Electrical energy consumption-84% reduction ? Energy consumption costs-76% reduction ? C02 emissions-70% reduction ? Installed power requirement 92% reduction. The data obtained from simple laboratory batch amenability testing can be readily applied to the Simulus mass and energy balance simulation procedure to determine energy and reagent consumptions, equipment selection and process optimization. The applicability of Kell to treating low-grade 'dirty' concentrates with high UG2 content as well as to polymetallic concentrates containing base metals as the major payable metals with subordinate PGM means that these savings can also be expected when the process is used for treating a range of concentrate types and grades. Keywords PGM,UG2, Merensky, smelting, chromite, electricity, hydrometallurgy, Kell Process, Eskom.

Jan 1, 2011

By A. Asadi

Subsidence phenomenon as an unwanted consequence of underground mining can cause problems for environment and surface structures in mine area. Surface subsidence prediction for inclined and steep seams has been given less attention than horizontal seams due to the difficulties involved in the extraction of such coal-seams. This paper introduces a new profile function method for prediction of surface subsidence due to inclined coal-seam mining. The results of calculation with the new function indicate that the predicted value has good agreement with the measured data. Keywords: subsidence; coalmining; caving mining methods; longwall mining; profile function.

Jan 1, 2005

By C. D. K. Gauert

High-pressure waterjet technology is proposed as an alternative tool for selective underground mining of high-grade ore sections in stratiform orebodies showing a preferred ?bottom? or ?top? enrichment such as the Witwatersrand reefs and the Bushveld Complex platiniferous reefs. This technique, utilizing known mining technology together with more advanced machinery and additives as used in industrial and cleaning applications, may lead to an increased life-of-mine (LOM) for mining operations. A series of experiments was successfully carried out in a laboratory on Witwatersrand quartzite material, indicating acceptable cutting performance. Mining volumes by selectively cutting of reef portions are considered to be comparable to traditional drilling and blasting. Economic advantages of waterjet mining include energy savings due to the lower quantity of gangue rock to be hoisted to surface, as well as savings by a decrease in the usage of blasting materials. Capital expenditure of waterjet cutting, if applied on a broad scale, could be lower in the long term than that of conventional drilling and blasting methods. Mining by the application of high-pressure waterjet technology could become a competitive ?green technology? improving the economics and safety of labour-intensive mining operations. This paper suggests that waterjet cutting at an industrial scale can become a routine hard-rock mining technique in the future. Keywords waterjet cutting, high pressure, mechanized narrow reef mining, abrasive agents, costs, selective mining.

Jan 1, 2013

By Reginald N. Boryor, Steven D. Woods

1.0 Introduction ?Low grade, high tonnage, open pit gold mine. ?Gold bearing Tarkwaian conglomerates. ?Reverse Circulation percussion drilling (25m X 25m grid). ?Composite 1m intervals, logged and split in the field to provide±2Kg samples. ?Samples used to build grade control block models using SURPAC. ?Approximately 100,000-130,000 meters drilled per year. ?RC samples are assayed using Rapid Cyanide Leach (RCL). ?Check assays are done using Fire Assay

Jan 1, 2005

By J. Bakken, M. Th. Jonsson, G. Sævarsdottir

A typical three-phase submerged-arc furnace for production of silicon metal and ferrosilicon has arc currents ~100 kA, phase voltages ~100 V and total furnace power ~10 - 60 MW. The arcs burn in gas filled cavities or "craters", where the main atomic components of the plasma mixture are silicon, oxygen and carbon. Two quite different simulation models for high-current AC arcs have been developed: the simple Channel Arc Model (CAM), and the more sophisticated Magneto-Fluid-Dynamic Model (MFD). These models have been described extensively and results reported at INFACON-8 and INFACON-9, respectively. The coupling between the arcs and the AC power source is described by a complete three-phase Electric Circuit Model. Recent numerical modelling studies of industrial AC arcs show that the boundary conditions at the cathode and anode are critical for the simulation results. A novel Cathode/Anode Sub-Model for high-current AC arcs that treats both cathode and anode indicates a completely different cathode behaviour than previously assumed. A cathode spot which serves a high-current electric arc is shown to be dominated by the energy impact from the arc. This leads to lower cathode fall voltage than obtained from previously developed models. The anode fall voltage is negative, as the main function of the potential barrier is to repel plasma electrons. The cathode spot is diffuse in the sense that the arc in fact contracts away from the cathode. Simulation results are compared to measurements on both industrial furnaces and smaller scale pilot furnaces. An important conclusion, supported by our arc studies, is that the arc length in silicon metal and ferrosilicon furnaces does not exceed 15 cm and the arc may burn anywhere on the electrode, not necessarily beneath the electrode tip.

Jan 1, 2004

By G. Apsey

Eutectic freeze crystallization (EFC) is a novel technique for the recovery of pure salt and pure water from hypersaline waste brines. It is therefore a promising technology for the treatment of industrial waste waters. The impurities caused by crystallizing salt out of multi-component brines by EFC have not yet been investigated, however. To these ends, the selenium impurity found in sodium sulphate, produced from the waste brine of a platinum operation, was investigated. It was believed that the similarity between sulphate and selenate ions allowed isomorphous substitution of selenate ions into the sodium sulphate crystals, which was the likely cause of impurity uptake. It was found that the presence of sodium chloride in the industrial brine promotes the uptake of selenium, while ionic strength of the brine and mass deposition rate of sodium sulphate did not have a significant effect on the selenium uptake. Isomorphous substitution is predicted to be the most significant mechanism by which all impurities will be taken up when applying EFC to other industrial waste brines.

Jan 1, 2013

By J. J. Dekker

Controlling noise has proven difficult in mining, and noise-induced hearing loss (NIHL) remains common. In 2008, a South African Mine Health and Safety Council study focused on small- to medium-sized mines in relation to the milestones set by the industry to prevent NIHL. An evaluation of the compliance of ten diamond, sand, aggregate and Ready mix concrete mines and production sites with standards, legislation and best practice guidelines relating to NIHL prevention was conducted, using a noise compliance audit tool. The findings indicated that all mines surveyed had poor compliance with the international standards, compliance with International Standards Organization standards being the poorest. There was a clear distinction between the small and the medium-sized mines in their compliance with local standards and legislation (ranging from 14 per cent to 66 per cent). The areas of best compliance were audiology and medical examinations. The lower-than-expected compliance was largely attributable to shortcomings in hearing conservation programmes for occupational noise. Initiation of remedial practices in the small- to medium-scale mining sector to facilitate improvements in NIHL prevention and compliance with standards and legislation is recommended. Keywords Hearing conservation, small-to-medium mines.

Jan 1, 2011

By M. Arlandi, J. C. Monge

In this paper, the finite element method is used to obtain deformations of a rock tunnel. More than 3,000 numerical simulations and calculations were carried out. The analysis of this results has allowed to achieve mathematical formulations and graphs, to obtain in advance support monitored displacements in tunnelling construction, so they can be predicted before excavation and supporting woks. The application of the presented formulations and charts will aid engineers to control tunnel monitoring, reducing decision time when problems occur. The analysis is limited to cases involving elastic behaviour of the terrain for tunnels of average to good quality in rock, and to excavation sections of average or smaller dimensions for road tunnels. The results show that, in all cases, mathematical expressions to obtain induced displacements around tunnel excavations, have similar pattern than Kirsch (1898) expressions for circular excavations. As corollary of the achieved results, a method to estimate in situ natural geostress ratio K0=sh/sv , by means of convergence measurements, is presented. In diesem Beitrag wurden die Verschiebungen eines Tunnels durch die Methode de Finiten Elemente berechnet. Mehr als 3000 numerische Simulationen und Berechnungen wurden ausgeführt. Die Analyse dieser Resultate hat es ermöglicht, mathematische Formeln und Grafiken zu entwickeln, die zur Voraussage der Verschiebungen in Tunnel dienen, auch unter Betrachtung der verschiedenartigen Abstützungen. So können die Verschiebungen vor den Erdarbeiten und dem Bau der Abstützung abgeschätzt werden. Die abgeleiteten Formeln und Grafiken werden vor allem einen grossen Dienst für Ingenieure bei der Mithilfe zu zeitsparenden Entscheidungen im Tunnelbau und bei der Tunnelkontrolle leisten. Die analysierten Fälle sind auf eine elastische Modellierung des Baugrunds beschränkt, sowie auf eine mittlere bis gute Qualität des Felsens und auf die Aushebung von Abtragungsabschnitten mittlerer oder geringer Grösse für den Strassenverkehr. Die Resultate zeigen, dass in allen Fällen die hergeleiteten Formeln zur Berechnung der durch den Tunnelbau verursachten Verschiebungen um den Tunnel die gleiche mathematische Struktur haben wie diejenigen von Kirsch (1898) für kreisförmigen Bodenaushub. Als Korollarium der ausgeführten Berechnungen wird eine Methode zur Abschätzung der vorherrschenden in situ Geospannungs-Verhälniss K0=sh/sv angegeben, die von den Messungen der Verschiebungen im Tunnel ausgeht. Dans cet article, la méthode des éléments finis est utilisée pour obtenir les déformations d’un tunnel creusé dans la roche. Plus de 3000 simulations numériques et calculs ont été effectuées. L’analyse de ces résultats a permis de définir des modèles mathématiques et des abaques afin de prédire, avant l’excavation et les travaux de soutènement, les déplacements auscultés pendant la construction du tunnel. L’application de ces modèles et abaques permettra donc aux ingénieurs de contrôler les déplacements durant l’auscultation du tunnel et de réduire le temps de décision lorsque des problèmes surviennent. L’analyse est limitée au cas du comportement élastique du terrain pour des tunnels creusés dans de la roche de moyenne a bonne qualité, et à de sections d’excavation de petites à moyennes dimensions pour des tunnels routiers. Les résultats montrent que, dans tous les cas, les expressions mathématiques permettant d’obtenir les déplacements induits autour des excavations de tunnel, présentent des similitudes avec celles de Kirsch (1898) pour des excavations circulaires. Comme corollaire aux résultats obtenus, une méthode pour estimer le rapport des

Jan 1, 2003

By D. Grobbelaar, A. Cichowicz, D. J. Birch

The Q-coda method for estimating the quality factor Q(f)= Qo(f)n was used to characterize seismic wave attenuation in a region of the Kaapvaal Craton that includes the mining areas of the Bushveld Complex and Witwatersrand Basin. Seismic waveform data, collected by locally distant stations of the South African National Seismograph Network (SANSN), consisted of mining-related events with magnitudes ranging from ML 1.8 to ML 4. Q was calculated for nine different source-receiver pairs spanning the study region. A weighted average Q based on the number of available data gave an estimated attenuation relation for the study region of Q(f) = 327 f 0.81.

Jan 1, 2015

By A. K. Singh

Between the main fan and the coalface in a mine a lot of air is lost through leakage at stoppings, doors, air-crossing etc. so that a much larger quantity of air has to be circulated by the fan in order that the stipulated quantity of air reaches the face. Stoppings are of vital importance not only for effective ventilation of underground mines but also for isolation of areas affected by fire or susceptible to spontaneous heating. Generally, isolation stoppings are made of brick in cement mortar. If the area is far from the pit or unapproachable, it is very difficult and sometimes impossible to build these stoppings. To overcome these difficulties, particularly near fire affected zones, an alternate successful attempt was made in Indian mines to make a plug underground, from surface through borehole, using cement concrete. In this paper the salient features of the methodology adopted for construction of the plug and the experimental procedure for the measurement of air leakage by SF6 tracer gas is described. Measurements of air leakage through rows of ventilation stoppings in two mines viz. Moira (Jambad and Kajora seams) and Kuardi11/12 (Niga seam) collieries of Eastern Coalfields Ltd. (ECL) have been incorporated. Results of experiments conducted at the Central Mining Research Institute (C.M.R.I) to determine leakage through25 and 38 cm thick brick stoppings are also discussed. Results of all these studies are compared, which show that the efficacy and reliability of the remote filled cement concrete plug in respect of air permeability is satisfactory.

Jan 1, 2004

By W. S. Steinberg

Keywords: Pyrometallurgy, furnace, open slag bath, Evraz, Highveld In 1963, the full-scale engineering study for the development of an Iron, Steel, and Vanadium plant was initiated. This was the birth of Evraz Highveld and its process flow as it is known today. Highveld started out as a steel works that produced steel and vanadium-bearing slag by using a titaniferous magnetite iron ore mined from its own mine site near Steelpoort. The process utilized co-current rotary kilns for pre-reduction, and submerged-arc furnaces for the production of pig iron with approximately 1.15% vanadium. Because of various technical challenges that the submerged-arc furnaces experienced over the years, a decision was taken in 2004 to convert the furnaces to Open Slag Bath (OSB) operation, in order to enable the maximum production of iron and vanadium while improving the control over operational parameters. The conversion proved to be highly successful and, since 2005, three furnaces have been converted to OSB operation. The fourth furnace will be converted in the first half of 2011. The conversion to OSB furnaces not only yields higher vanadium recovery to the metal at the iron plant, but also improves the overall throughput of the steel plant. This is the result of a higher carbon content of the liquid iron from the OSB furnaces, eliminating the need for anthracite addition to the shaking ladle process. This reduces the blowing time by approximately 60%. The conversion of the furnaces to OSB configuration is seen as an enabling technology change and a prerequisite to the implementation of other plant improvements that are envisaged. The long-term vision of EHSV is to convert five furnaces to OSB mode, and permanently decommission the two remaining submerged-arc furnaces. This will allow EHSV to maintain current steel and vanadium production but at a significantly improved overall efficiency.

Jan 1, 2011

By A. W. Bester

Paper written on project work carried out in partial fulfilment of B. Eng. (Mining Eng.) Cullinan Diamond Mine currently handles 3.2 million tons of run of ore per annum. This is done by means of an underground train system, which is located at 763 metre level. Four trains, one in each quarter of the pipe, collect ore from passes and transport it to centrally located tips in the north and south of the pipe. The ore is then split into coarse and fine fractions. The coarse fraction proceeds to the primary crushers in the north and south. Historically, mining has been performed in such a manner that an equal amount of ore has reported to each quarter of the pipe. However, the tonnage profile of the mine will change such that the ore will no longer be split equally. For approximately five years the majority of ore will report to the east and thereafter most of the ore will report to the western portion of the mine. This will continue for the remainder of the current infrastructure level?s operational life. Coupled with this is the fact that the mine is aiming to increase its annual production to 3.8 million tons. The result is that the current ground handling system cannot accommodate the additional tons and therefore alternative ground handling options have been investigated. The continued existence of Cullinan Diamond Mine relies on finding a system that can economically handle the additional tonnage. Three options were investigated. Firstly, a train option, which would be an upgrade of the current system, was investigated. Two truck options were also investigated, the first of which was a conventional truck option. The second truck option was more interesting and involved an unfamiliar Combi truck system. The truck options were investigated primarily due to the fact that the block height of the BA West (a new production block) can be increased by 15 meters if a truck option is decided upon. This would create a significant increase in revenue for the BA West project. Each of the options was assessed in terms of its physical and financial feasibility. In terms of the physical constraints, it was found that all three systems could work. Detailed financial analysis indicated that either of the two truck options would be a suitable solution. However, due to the limited information regarding the Combi truck option, it should be further investigated. This applies particularly to the actual running and maintenance costs for the equipment.

Jan 1, 2005

By D. Limpitlaw

The origins of mine closure practice have influenced the way in which it is implemented by companies and regulators. Mine closure practices essentially started developing in the 1970s in countries with advanced economies and mature mining industries. In these settings, the emphasis was justifiably placed on restoration of the landscape and an attempt was made to return to the ?natural? pre-mining land cover. These practices continued to evolve and incorporated socio-economic and cultural aspects, especially after the Brundtland Report in 1987 and the subsequent Earth Summit in 1992. Today mining is increasingly occurring in remote parts of developing countries where there may be significant need for infrastructure such as roads, clinics, and schools. The costs of returning land to low (economic) value pre-mining use may be far greater than establishing a viable postmining land use that could potentially add value to the community and take pressure off sites for greenfield development elsewhere. Furthermore, natural resource limitations (such as topsoil availability) may limit the degree to which the historical land cover can be re-established. Establishing post-mining land uses may aid in mitigating the loss of employment that is inevitable when mines close. Stakeholder participation in establishing post-mining land cover and land use options is critical for long-term success. Similarly, third parties must be identified to support the development of the post-mining land use This paper draws on the experience of the authors in several developing countries and presents a case for maximizing re-use of mining infrastructure. The paper does not advocate the adoption of poor rehabilitation standards, nor or the wholesale destruction of land capability, but rather leaving key infrastructure in place for post-mining use that may support sustainable development.

Jan 1, 2014

By Ö. Erdem

The investment decision making process in the insurance and finance industries is affected by new advances such as simulation techniques. These advances have improved the discounted cash flow method (DCF). In DCF, a dynamic and flexible model construction is not possible because it does not consider uncertain conditions. Each project should be evaluated taking into account the related uncertainties because the related uncertainties determine the characterization of the project. Related uncertainties can be processed in dynamic DCF, which is applicable to both financial and non-financial industries with different kind of uncertainties, such as power generation and petroleum projects. The dynamic DCF method can estimate net present value (NPV) while managing related project uncertainties with a simulation method like Monte Carlo Simulation. The simulation method is preferred because its output is unbiased. Therefore, a more realistic financial evaluation of the project can be concluded. In spite of the improvement of dynamic DCF, this project evaluation method is not used frequently in mining industry. However, the mining industry is ideally suited to this concept because it is highly dependent on estimations such as orebody size and ore grade. During the project evaluation stage, these uncertainties can be included with the dynamic DCF method. This study aims to contribute to increasing the usage of this method in mining projects. A copper reserve in Turkey is selected as a case study to apply uncertainty assessment for the evaluation of NPV.

Jan 1, 2012

By M. D. G. Salamon

It has been noted in recent years that the pillars in some bord-and-pillar workings scale or spall. In due course this process may result in the collapse of the affected panels. This paper presents a methodology for assessing the long-term behaviour of such workings, employing a simple model of pillar deterioration by scaling. It is assumed that scaling causes a gradual reduction in pillar width, hence the safety factor of pillars reduces in time. It is also postulated that the process of scaling will be arrested if the coal rubble around the pillar reaches a critical height. The probability that the pillars will survive for a certain period of time, or indefinitely, can be estimated. This can be accomplished by using the log-normal distribution proposed by Salamon and Munro4todescribe the distribution of the apparent safety factor values at failure. If an estimate of the rate of scaling is known, it is also possible to quantify, using a Monte Carlo technique, the expected life of the pillars. The method also facilitates pillar design by specifying a probability of survival for a given number of years or, alternatively, for an indefinite period. Using the limited pool of available data, analyses show that the proposed model does not appear to be inconsistent with observed behaviour of pillars in the Vaal Basin. The crucial parameter is the rate of scaling. Back calculations from eleven cases suggest that the rate of spalling in the Vaal Basin is about 0.2 m/year. It is noteworthy that two further cases in the same area give significantly higher rates (0.85 m/year). Some underground observations in the Witbank area indicate considerably lower rates in the order of 0.02?0.04 m/year. Further areas for study are recommended. These include a study of old workings to determine the extent and rate of scaling in the various coal fields, an investigation into the possible relationship between scaling and the chemical composition of the coal. In addition, model studies will be required to assess the practical impact of the research findings.

Jan 1, 1998

By R. J. Jewell

The storage capacity of any given tailings storage facility (TSF) is a function of the volume available for the tailings, for which the geometry of the final upper surface of the tailings is most important. One of the advantages that can be obtained from thickening tailings prior to discharge is that the tailings can be stacked at a steeper beach angle than is obtainable with conventional low-density slurries. However, there is at present no universally accepted method available for the accurate prediction of tailings beach slopes. This paper examines the current situation with the objective of putting the quest for a method for the accurate prediction of beach slopes into perspective. The paper references published reviews of the best-known beach slope prediction methods. However, there do not appear to be any independently verified projects or published references to projects on which a Class A prediction has been validated for any of these approaches, and in those instances where projects have been implemented correlation of actual with predicted slopes has been poor - often due to differences between the properties of the tailings assumed in the design and those actually achieved in the field. The author also concludes that flume-scale testing cannot be taken as a reliable indicator of full-scale performance, and suggests that the outcome of any current predictive method should be used by experienced practitioners as only one of a range of indicators in order to suggest a range of slope angles likely to result for any given operation. Practice has shown that it is possible to manipulate beach slopes by changes to the disposal technique, such as limiting the rate of discharge per discharge point and by increasing or decreasing yield stress, but the impact of these changes cannot readily be predicted. There are also newly emerging technologies, such as the injection of a polymer into the tailings at discharge, that will enhance the dewatering of tailings and hence expedite the consolidation of the tailings, that could well facilitate the development of steeper beach slopes. The overall conclusion is that with the current state of knowledge, the accurate prediction of beach slopes is not possible. Furthermore, in view of the inherent variability of the tailings parameters from any operation, it may well be of more value to concentrate on developing an understanding of the means by which the tailings parameters may be manipulated by the operators to achieve a given beach slope than to concentrate wholly on developing a generic beach slope prediction model.

Jan 1, 2012

By H. Gumede

The occurrence of fracturing due to high stress levels is a major factor in hangingwall stability in deep level gold mine stopes. However, rock falls cannot be the result of these fractures alone. Rock falls can result only from the occurrence of unstable rock blocks defined by the interaction of the stress induced fractures and naturally occurring geological planes of weakness. These planes include bedding planes and joint set planes. However, there is a general lack of information on the characteristics of these planes (orientations, spacings and lengths)?it does not appear that any such systematic and quantified information, if collected, has been published. To remedy this situation to some extent, joint mapping exercises have been carried out in several geological environments in two gold mines. The data collected on joint geometry included orientation, spacing and length, and this information is included in the paper. In addition, the paper describes the use of the data collected to evaluate the potential for rock falls and the probability of failure of stope support

Jan 1, 2007

By M. Nduna

Surface properties of metal sulphides have a great significance in various areas of engineering and science, such as acid mine drainage, contaminant sorption, and metal separation. In various attempts at producing metal sulphide particles from synthetic solutions, prodigious quantities of nuclei that grow only to colloidal dimensions have been frequently reported. This copious nucleation is promoted by the high levels of supersaturation that characterize most precipitation reactions. Colloidal particle formation in precipi¬tation-based separation processes results in sub-optimal solid-liquid separation, which is alleviated by the production of more highly crystalline particles or agglomerates. The current work approaches this challenge from an electrochemistry perspective, by measuring surface charge potential of precipitant particles during metal sulphide precipitation with respect to the concentration of metal sulphide lattice ions in solution. Electrophoresis was used to measure the metal sulphide particle zeta potential and the settling properties were obtained by performing settleability measurements using an Imhoff settling cone. A suspension of copper sulphide particles was precipitated from synthetic solutions of copper and sulphide ions at equimolar concentrations. Immediately after precipitation the copper sulphide particles had a zeta potential of -50 mV and a settleability of about 7 ml.l-1. With the addition of copper ions the settleability increased by a factor of nearly three times and the zeta potential also increased to a maximum of -40 mV. A decrease in zeta potential to a minimum of -60 mV was observed after the addition of sulphide ions and this was associated with a settleability of 0 ml.l-1.

Jan 1, 2013

By J. D. Stone

This paper briefly reviews the adequacy of existing management theories and practices and the managerial proficiency or competency in the South African mining industry. The investigation revealed that existing management practices are totally inadequate to enable all employees on all the levels of the mining industry to achieve the results required from them, in all aspects, at all times. As a result, the South African mining industry is gradually losing its long standing reputation as a relative cheap, competitive, and reliable supplier of minerals to the local and global markets. According to some prominent management authors and theorists, an all-inclusive unified management theory does not exist at present. In this paper the authors summarize the main aspects of a newly developed comprehensive, practical, and integrated management method. It is believed that the application of this method would significantly improve the future performance and competitiveness of the South African mining industry

Jan 1, 2010

By B. A. Day

The traditional view taken of commodity prices is that they are cyclical, with strong demand boosting prices and attracting new suppliers. The resulting increased supply pushes prices down with consequent exit of the higher cost producers. And so the process repeats itself. Little attention is given to shifts in underlying global issues and their effect on the traditional process which is seen as being controlled by ?amorphous? market forces with producers profiting from the good times and trying to survive in the bad.. The questions posed are: does this still apply and will it apply into the future? What new factors are affecting the cycles? Can we expect to find the traditional commodity cycles repeated in the 21stcentury? Are producers powerless within the forces of the cycles? Forces likely to affect future commodity prices will be suggested, using gold, zinc, copper, tin and coal as case studies. The long-term downward trend in the real price of commodities is identified.

Jan 1, 2000