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By Sorentino C

Mineral valuation may appear to be a special field of financial valuation when in fact it is a subset of general investment decision theory. The only significant difference in mineral valuation is that in the case of valuing an on-going mineral asset, ie a mine, often there is no initial capital outlay involved. One is required to determine what the mineral asset as it stands is worth. But this is the same problem as determining the maximum one could pay today and not incur a loss over the life of the asset. In other words one needs to determine the Net Present Value (NPV) of the asset. The two most widely used discounted cash flow methods, NPV and Internal Rate of Return (IRR) came of age with the rapid adoption of the personal computer and spreadsheet programs. The two methods are directly related as the IRR is a special case of NPV. NPV measures the absolute increase in real wealth that can be expected from a certain investment, which makes it particularly suitable for mineral asset valuation, but ignores the efficiency of the investment. In contrast, IRR gives the expected efficiency of the investment but ignores the increase in wealth aspect. IRR has two serious theoretical weaknesses; multiple IRR's and a very rigid assumption about the rate of return of reinvested proceeds, plus if no initial equity expenditure is involved there is no IRR. The choice of the ""hurdle"" rate can also be a problem and in certain circumstances one can obtain different rankings of mutually exclusive projects using IRR and NPV. Although NPV and IRR supposedly measure financial risk, in fact they only address a very narrow area of risk, namely the time value of money given the real discount rate. They side step the issue of what the real discount rate should be and varying degrees of risk. The classical way to establish the real discount rate is to use the weighted average cost of capital.

Jan 1, 1994

Olympic Dam Operation is located in the Stuart Shelf Geological Province approximately 520 km north-north-west of Adelaide in South Australia. It is estimated to be one of the worldÆs top five copper orebodies by size and the biggest single occurrence of uranium. The deposit was discovered by Western Mining Corporation in 1975. Exploration was based on a conceptual model for the formation of sediment hosted copper deposits together with gravity and magnetic anomalies.The capital cost of the current expansion is estimated to be A$ 1.64 billion. The underground expansion includes a total of 36 km of lateral development, a railway haulage system delivering ore from a series of ore passes to a new crusher station and a significant increase in ventilation capacity and mine services.In the current underground expansion the mining method will essentially remain unchanged. The ore handling system will incorporate some recent advances in technology, improving efficiency and safety standards.Major infrastructure excavations are designed by a team of engineers attached to the Olympic Dam Expansion Project and a number of consulting groups. Once the expansion is fully completed it is expected to increase the current annual underground production level from 3.4 Mt to 9.0 Mt of ore by the year 2000. Mine design engineers working for the Olympic Dam Operation have recently completed a three year final design plan to achieve this target.Access to the existing mine is through the decline and Whenan shaft. The Whenan shaft was originally sunk as an exploration access and later upgraded for hoisting. The 4 km long service decline connecting to the Whenan shaft was later constructed to accommodate the increase in service demand. The Robinson and Sir Lindsay Clark shafts were developed at later stages to cater for the hoisting during and following the expansion lead up.

Jan 1, 1999

By Kidd CH

The excavation of a coal mine or any other mine, tunnel, or quarry, below the water table establishes a void towards which ground- water will flow. Inflows into the mine, if significant, can cause not only problems such as flooding, and/or muddy floors, in the mine, but commonly also require disposal of poor quality groundwater. The flow of groundwater towards a mine is accompanied by a decline in groundwater levels, which may extend up to several kilo- metres around the mine. This may seriously effect vegetation, stream flow and existing users of groundwater. At the pit face groundwater gradients can also cause slope stability problems and where a water table is intersected, increase blasting costs.

Jan 1, 1983

By G Hancock, J Lowry, T Coulthard, W Erskine, M Saynor

An important part of planning for the rehabilitation of uranium mine sites is the ability to assess the geomorphic stability of the final landform, over time frames ranging from decades to millenia. Depending on the environmental conditions, erosion features such as gullies may incise into containment structures, potentially leading to the exposure and transport of encapsulated radioactive material. Further, erosion may lead to increased sediment loads and the transport of other mine-related contaminants off-site and into downstream waterways. While erosion may be monitored and assessed over the short term (years to decades), the longer-term behaviour (centuries to millennia) of such landscapes is not within any meaningful human management time frame. Landscape evolution models (LEMs) can provide information on soil erosion rates at decadal or centennial scales over large spatial scales, and evaluate the sensitivity of these processes to environmental changes. However, an important issue associated with the use of models is the ability to assess the reliability and accuracy of the model. In this paper, the CAESAR-Lisflood LEM is tested for its ability to predict soil erosion from a series of 30 m × 30 m experimental plots specifically constructed for this purpose on a trial rehabilitated landform at the Ranger Uranium Mine in the Northern Territory, Australia. Model predictions of bedload and suspended sediment loads from the erosion plots were compared with field measured observations collected over four wet seasons from the trial landform. Once calibrated for the specific site hydrological conditions, the predicted sediment yield – specifically, bedload – demonstrated an excellent correspondence with the field data. However, longer-term simulations of ten years identified an exhaustion effect in sediment yield from the landform. These latter results indicate that a weathering function needs to be incorporated into CAESAR-Lisflood to ensure confidence that the CAESAR-Lisflood LEM will be able to correctly predict the long-term evolution of a rehabilitated landform once it has been?constructed.CITATION:Lowry, J,?Saynor, M,?Erskine, W, Coulthard, T and Hancock, G, 2014. A multi-year assessment of landform evolution model predictions for a trial rehabilitated landform, in Proceedings Life-of-Mine 2014 , pp 67–80 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Jul 16, 2014

Perhaps the only thing certain about an address that purports to look into the future of any human endeavour is that time will prove it :.o be inaccurate. In undertaking the dubious, but oft-times necessary business of prediction, thr, historian will base his/her forecasts on tr-ands of the past, the speculator on current events, and the politician on what he/she would dearly like to see happen. The thoughts expressed in this address seem to have arisen through exercising a combination of all three of those philosophies but, hopefully, with a smat- tering of pragmatism.

Jan 1, 1988

By M F. L Gibson

The issue of flyrock is very important in the operation of all mineral extraction sites that use blasting. Unlike the other environmental effects of blasting, ground vibrations and air overpressure, flyrock is (or should be) a rare event, with severe consequences which may include damage to property, injury or fatalities. These physical consequences are often matched by a loss in public confidence in the management of the operation, mistrust and bad press. In this work a deterministic analysis of flyrock was carried out using the equations of a particle in motion with drag. The solutions to these equations were used to reproduce the curves of Lundborg et al (1975) for the relationship between flyrock boulder size and maximum ejection distance. A probabilistic approach based on Monte Carlo simulation was built up with the analytical model using published data together with local case study material. A typical quarry blast situation was modelled and estimates of safe standoff distances were determined using risk assessment techniques.

Jan 1, 2001

By G B. Smith, G M. Marshall, A Querzoli

The South Australian mining regulatory framework has adopted a performance based approach to the management of risk. This approach has been in place in South Australia for more than 10 years and is increasingly being implemented in mining jurisdictions in Australia and around the world. Performance based regulation focuses on setting appropriate environmental outcomes to be achieved based on an assessment of the potential impacts associated with the development, operation and closure of mining projects. Measurable compliance criteria, including completion criteria, are set to demonstrate achievement of the outcomes. It is the responsibility of the proponent to propose designs and strategies that will achieve the regulated environmental outcomes and to demonstrate the implementation of their designs and strategies will achieve the outcomes into the future. Tailings Storage Facilities (TSFs) are significant elements of many major mines and each is unique with site specific factors such a materials to be stored, design, size, location, climate, sensitive receptors, operating history of the facility (i.e. changes to design), site culture and company capability amongst a range of other factors. Consequently a fit-for purpose approach is a key principle of best practice regulation of tailings management as it takes the site specific factors into account in setting appropriate outcomes for mitigating the identified impacts associated with a proposed development. Achievement of those outcomes through fit-for purpose, well designed management strategies would ensure safe, stable and economic storage of tailings in a manner that complies with all legislative requirements and presents negligible public health and safety risks. Tailings storage must also have acceptably low social and environmental impacts, both on and off site, during operation and indefinitely post closure. Achievement of environmental outcomes during operations and at mine completion can then be demonstrated to the regulator and community through public reporting of compliance with measurement criteria which establish the appropriate level of impact for each individual operation. A number of new mining proposals including tailings storage facilities (TSF) have recently been assessed and approved in South Australia. The location, size, design, sensitive receptors, public interest and therefore risk profiles of these TSF’s have varied substantially between these new mining proposals. These considerations were reflected in the assessment of the TSFs and the resulting mining lease conditions of approval including the environmental outcomes to be achieved over the life of the facilities. This paper and the accompanying presentation will provide case studies of recently approved TSFs within South Australia and the regulatory framework for each case.CITATION:Smith, G B, Querzoli, A and Marshall, G M, 2018. Tailings regulation – a South Australian perspective, in Proceedings Mine Waste and Tailings Stewardship Conference 2018, pp 166–177 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Jul 23, 2018

By H Kundapen, B R. Bolton, H Davies

The Ok Tedi porphyry copper-gold mine is located in the Star Mountains of Western Province, Papua New Guinea. Open-cut mine commenced in 1984 and is due to cease around 2010. The mine produces a total of 88 Mt of waste annually including 58 Mt overburden and 30 Mt tailings, which are discharged directly in to the Ok Tedi River. Mine derived wastes are transported downstream and deposited within the river channel in a variety of bar forms. The prevailing hydrogeological conditions including, velocity, competency, capacity, gradient, grain size and specific gravity, control the deposition and segregation of these sediments. Periodic exposure of the reactive sulfides to oxygen during fluctuations in the river discharge may result in oxidation, localised acid generation and liberation of metals into solution. To evaluate the significance of this issue, Ok Tedi Mining Limited initiated an investigation of the sediments deposited in the upper Ok Tedi River as part of its overall ARD Management Program. The specific objectives were to: evaluate the acid-forming characteristics of identified high sulfide river deposited sediments; characterise geochemically the waters in contact with sulfide-bearing river deposited sediments; map and monitor exposure areas and oxidation depth of deposited potentially acid forming (PAF) sediments; determine the depositional processes controlling sulfide distribution; and assess lag period, oxidation and metal release rates for the sediments. This work included the analysis of sediment and water samples collected on a 50 + 50 metre grid at six gravel/sand bars. The sediment samples were analysed for total sulfur, ANC, NAG, total sulfur and total copper. Water samples were tested for general water quality parameters, sulfate and a suite of dissolved metals including; Al, Ca, Cd, Cu, Fe-sol, K, Mg, Mn, Na, S and Zn. This paper presents the results of these investigations with particular emphasis on the geochemistry of the river sediments and associated contact waters.

Jan 1, 2003

Separating Particles by Horizontal Deflection in a Paramagnetic Fluid This paper describes the horizontal deflection behavior of particles in paramagnetic fluids under a high-gradient superconducting magnetic field. Movements of single particle were observed experimentally and indicated that they could be deflected to different positions. Based on these results, the behavior of groups of particles from ore samples was examined in the superconducting magnetic. It was found that these particles could be deflected and settled at a certain position due to the combination of gravity and magneto-Archimedes forces as well as a lateral buoyancy (displacement) force. Mineral particles with different susceptibilities and/or densities could be deflected to different positions, thus producing groupings of similar types of particles. The work described here, although in its infancy, could form the basis of new approach to separating particles based on a combination of susceptibility and density.  

Sep 13, 2010

By T J. McGavin

This paper examines the fire life systems implemented in two existing tunnels and discusses whether the standards used were appropriate. It focuses on the Terrace Tunnel as this upgrade and refurbishment is complete.The New Zealand Transport Agency (NZTA) manages six tunnels on the State Highway network with two of these built in the last seven years. The Terrace Tunnel, opened in 1978, was refurbished with modern fire life safety systems in 2010–2012. An interim upgrade of the Mt Victoria Tunnel, opened in 1931, was also carried out at this time.In present times, few existing tunnels have undergone significant upgrades and refurbishments. The Terrace Tunnel required: new power supplies, control buildings, lighting, wall panels and jet fans, a deluge system, emergency exit lights and way-finding lights, a public address (PA) system, a radio rebroadcast system, lane control sign (LCS) and variable message sign (VMS), an over-height detection system (OHD) and a new tunnel management system.In the absence of suitable guidelines, various standards were used to carry out the refurbishment. The Austroad Guide to Road Tunnels and AS4825 Tunnel Fire Safety, although designed for new tunnels and not specifically intended for existing tunnels, provided a framework. A multi-criteria assessment of risk (MCAT) was carried out to determine the systems to be provided.The Terrace Tunnel has perhaps set a benchmark for refurbishing existing tunnels as few projects of this type have been completed recently. This paper examines the process and the outcomes.CITATION:McGavin, T J, 2014. The refurbishment of the Terrace and Mt Victoria Tunnels, Wellington, New Zealand, in Proceedings 15th Australasian Tunnelling Conference 2014 , pp 87–94 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Sep 17, 2014

A general review of grinding mill steel liner evolutions/developments in recent times. The driving force behind these developments has been the mill operators desire to minimise the nett cost of their operation. These developments have resulted from a team approach between supplier, operators and reline crews. The move towards larger diameter high aspect mills, faster mill speeds, pebble ports and the use of large diameter grinding media has affected the traditional liner designs, which is placing higher demands on the supplier to meet these new working parameters and expectations. Operators are also taking closer ownership in the liners being supplied, as demonstrated by the development of their own mill liner specifications. This paper outlines some of liner developments and changes undergone at various milling operations around Australia and overseas (such as Cadia Hill, Kidston, Ok Tedi Mining, PT Freeport, etc) and where to in the future?

Jan 1, 2000

By Matsushita Y, Maeda M, Sano N

The present study was carried out to explore the possible separate recovery of iron and phosphorus (as gas) from BOF slag using graphite crucibles or graphite powders in the presence of a tin bath. The last is consider- ed to enhance the activity of phosphorus in iron reduced from slag or not to absorb the phosphorus vapour readily. When the slag was reduced in a graphite crucible in contact with a tin bath, the phosphorus reduced from the slag was carried away in CO explosively generated by the reduc- tion of iron oxide. When graphite powder was used as the reductant instead, 78% of the phosphorus was removed from slag, only 3% of which was absorb- ed into the tin bath. The rest left the system as gas. Gaseous dephosphorization depends on the area of contact between slag and reductant as cll n.u the amount of the latter. the reduction behaviour was directly observed, using an X ray transmission technique, to conlirm the reaction mechanism.

Jan 1, 1980

By T Laing, M A. Abdalla, P Hagan

Open pit operators are facing a number of challenges in the area of blasting and blasting processes, such as wall control, quality of fragmentation, explosives consumption and vibration. Remaining financially viable is one of the most significant objectives for mining professionals as they work through the blasting challenges within the mining chain of processes. This objective is such a significant challenge, primarily due to the high consumption of materials and the direct consequences on the downstream processes in the mining work flow, including loading, hauling, crushing, milling and mineral concentration. This paper reviews and discusses a technique to achieve this objective, namely air-decking. The performance in a number of mines around the world is reviewed focusing on the economic contributions of air-deck blasting. Various scenarios are investigated and simulated, covering both conventional and air-deck blasting, using JKSimblast software. The scenarios explore a range of issues and found that optimum results could be achieved with a minimum amount of explosives. The results obtained from the simulations were verified with blasts at Rixs Creek Coal Mine, Australia. Based on the verification results the simulations were then modified to more accurately model the actual conditions and parameters on site and to ensure that the models derived meet the production and control requirements at the mine site. Ultimately, overall analysis and comparisons were applied to the outcomes of the conventional and air-decking blasts revealing a reduction in material consumption of around 25 per cent with consequential savings and up to a 30 per cent reduction in ground vibration.CITATION:Abdalla, M A, Laing, T and Hagan, P, 2012. The contribution of air-deck blasting to open pit mining economics, in Proceedings Eighth Open Pit OperatorsÆ Conference , pp 7-12 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Sep 18, 2012

By Barlow S

The Kelian Gold mine project won two excellence awards from the Victorian Division of the Institution of Engineers, Australia. It was a challenging project, fast tracked in a remote and inhospitable tropical environment. The creation of a profitable and efficient mine was a significant engineering and project management achievement. The difficulties encountered and the way they were managed provide valuable lessons. These include the importance of sufficiently detailed engineering in all aspects of the job to enable the best estimates possible to be prepared during feasibility studies, the need to prepare the project scope and execution plan with disciplined and rigorous attention to detail by a highly experienced team and the value of identifying, assessing and mitigating risk and uncertainty during execution. The practical benefits of applying these lessons were demonstrated in the successful management of technical uncertainty on the recent diversion of the Kelian River to allow the expansion of the Kelian mine.

Jan 1, 1997

By R Memary

The environmental and economic impacts of a significant dependence on fossil fuels are affecting the future of sectors such as of mining. These impacts are prompting the Australian Government to seek solutions for reducing its dependence on fossil fuels more generally, such developing clean energy and improving energy efficiency. However, limited research has been undertaken to assess the potential synergies between clean energy and mining in an uncertain global future. This paper analyses current energy use by mining in Australia and reviews the drivers and opportunities for energy efficiency and cleaner energy technologies to be coupled to mining under three future scenarios. Linkages between mining and clean energy are investigated for three global scenarios for mining and metals to 2030, developed by the World Economic Forum (WEF), namely Green Trade Alliance, Rebased Globalism and Resource Security. These scenarios are applied to assess how they could change the barriers, opportunities and trade-offs required for the development of a more sustainable energy sources by the minerals industry in Australia.

Nov 22, 2011

By D Cohen, A Wurster

Many Southern African mining operations produce mine water which is beneficially and productively utilised on the mine sites and to support other water uses. Mine water treatment typically takes place within the context of integrated mine water management involving pollution prevention, waste minimisation, recycling and reuse as well as river discharges. Development of new and improved mine water treatment has focused on the neutralisation of metals removal, desalination of high sulfate waters and passive treatment. Mine water neutralisation processes now incorporate a combination of natural limestone and lime treatment, as well as features to maximise gypsum precipitation. The South African CSIR developed a suite of limestone-based neutralisation processes, which include reuse of CO2 and CaCO3 generated in the process. Desalination of high sulfate mine water is typically done using one of the following technologies:biological sulfate removal with different approaches to the handling of the sulfide generated in the process, and ultrafiltration (UF)/reverse osmosis (RO) treatment with different approaches to the handling and disposal of the brine. The current research and development focus is the separation and recovery of saleable products from the treatment residues and brine streams.

Jan 1, 2006

By M D. Urbani

HiTec Energy Ltd has been conducting research since 1996 into novel process routes for the treatment of low-grade and waste manganese sources for the production of high value and high quality electrolytic manganese dioxide (EMD) for the alkaline battery market. HiTecÆs approach is to treat previously unsaleable manganese deposits and mine site tailings using a novel sulfur dioxide leach route, followed by purification and electrowinning to generate the sought-after EMD product by an environmentally superior processing route to those presently practiced throughout the world today.HiTec Energy Ltd expects to be in commercial production with its Stage 1 facility in Kalgoorlie in the last quarter of 2004 for the production of 12 500 tpa EMD. With this production facility being adjacent to a laterite nickel producer with available waste manganese units, the opportunity arose for HiTec to combine its existing technologies with processes (that will be discussed in this paper) to turn two waste by-products into products that are used for high-tech purposes.HiTec Energy Ltd and the Parker Centre have had a collaborative research relationship for a number of years in areas involving EMD and battery related technologies. Meanwhile the solvent extraction (SX) group of the Parker Centre (CSIRO Minerals) has developed SX processes to separate manganese from nickel and cobalt. A project was initiated by HiTec Energy to recover manganese from waste laterite leach solutions using SX technology. Batch tests were conducted to select a suitable organic system for the extraction of manganese in terms of selectivity and extraction and stripping kinetics.A total of eight organic systems were tested by determining pH isotherms of metals using a laterite nickel process waste stream. Two organic systems, the Versatic 10 and Versatic 10/synergist systems, were chosen for further test work with Shellsol D70 chosen as the diluent for both systems.The Versatic 10/synergist system would be advantageous over the pure Versatic 10 system because fewer SX stages are required, resulting in a smaller organic inventory and lower capital costs. The risk of gypsum formation is also significantly lower with the synergistic system.

Jan 1, 2004

By Lin Bin, Qain Minggao, Qu Qundi, Yao Zhichang

This paper describes the application of a 89C52 chip microcomputer in hydraulic pressure information monitoring system of powered supports in a coal face, and the details of circuit and software of a monitoring system substation. Each substati

Jan 1, 1998

It is generally known that Charters Towers was discovered by Mosman, Clarke and Fraser in 1871. However, the time was ripe, and these three were barely in front of others. There is one account that prospectors from Ravenswood visited the area months before but decided it was too far from water, and that one of them had told Mosman and party of the find. There is another account that Joe Larkins found the discoverers before they had registered any ground - this may explain Mosman's quick departure for Ravenswood.When the news spread, the rush was rapid, and there was soon a sizeable population: probably too many, as within twelve months the infant settlement was under considerable stress. First, the presiding Gold Commissioners had adopted "unusual and arbitary" interpretations of the Regulations, and many of the miners were aggrieved; Charters, the senior Commissioner, was accused of favouring moneyed interests, and of retiring ill whenever a brawl or confrontation occured. As a result, the law of the field soon became "the survival of the strong". Second, the settlers were, divided on where the main town should be: Millchester, near the water, or Charters Towers near the mines. Third, the discovery of gold at the Millchester Deep Lead in August, 1872 was followed by highly exaggerated accoants in_' the southern papers, apparently fabricated by local business speculators. The resulting rush resulted in hundreds of unlucky prospectors having to return or seek other fields. In that period two men were killed in squabbles over ground. To make matters worse, by October 1872 a drought had set in, water cost three pence a bucket, fodder was scarce, cartage expensive, and the price of crushing ore rose to thirty shillings per ton.

Jan 1, 1986

This paper will first discuss the fundamental requirements for reliable discharge of backfill by gravity alone at high per cent solids. This discussion will include brief mention of the underlying principles of saturated solids flow contrasted to that of stirred tank or dilute discharge systems. Here the need to possess full knowledge of the flow properties of the stored material will be highlighted. In addition proper account must be made of the silo overflow weir and settling capacity to match plant throughput. Here opportunity will be taken to highlight the complexity of this multi-phase flow situation as well as the general yet paramount requirements for reliable solids flow. It will be shown that by proper attention to the multi-phase considerations gravity discharge of slurries as a consolidated bed with minimal water content is possible. Such high solids discharge results in greatly reduced demand for process water. In addition pumping costs are reduced as is the delay time associated with the mine drainage operation. Confirmation of successful applications will be highlighted by reference to several recent case studies. In the concluding phase mention will be made of the key yet very simple and effective operation techniques which enhance reliable discharge. The simplicity and reliability of properly designed gravity discharge backfill tank systems suggests increased application of this technology by the mining industry.

Jan 1, 1998