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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 Riches N, Harbort G

The Jameson flotation cell was developed jointly by Mount Isa Mines Limited and Professor GJ Jameson of the University of Newcastle. The cell has been used in a number of cleaning applications within Mount Isa Mines Limited. In 1989 Peko Mines tested the Jameson flotation cell at the Warrego concentrator to upgrade recleaner concentrate. 2 x 1.4 m diameter Jameson flotation cells were installed in 1990. This paper describes the testing, commissioning and operation of these Cells.

Jan 1, 1991

By J O. Watson, V S. Vutukuri

This paper presents results of an investigation on acoustic emission characteristics of granite, sandstone and rock-like material in the unconfined compression and tensile tests. Both the acoustic emission signature and stress-stain curve are analysed in the experiments.The experimental results show that different acoustic emission characteristics are observed at different stress and deformation stages in unconfined compression and tensile testing. Extensive and unstable acoustic emission changes may be interpreted as indicating failure of the rock.

Jan 1, 1999

The mobility of radionuclides released into aquatic, terrestrial and subsurface environments by mining, industrial processes is an area that deserves significant scientific attention. The presence of microorganisms in these environments can influence the transport of radionuclides. Free-living microorganisms constitute mobile suspended particles that may have a radionuclide sorbing capacity higher than that of the environment. Radionuclide transport will then proceed faster with than without microorganisms. In contrast, if the majority of the microorganisms are growing in biofilms on surfaces, transport of radionuclides may be reduced. Microorganisms can directly sorb radionuclides either within the cell structure or on the cell wall. Radionuclides could also be sorbed by minerals precipitated by microorganisms. Microorganisms produce complexing agents that can influence radionuclide mobility. The involvement of microorganisms in biogeochemical processes is related to their ability to include various chemical elements and their combinations into biochemical redox reactions. Microorganisms can alter the extent of radionuclide oxidation that results in their deposition as a result of the formation of insoluble forms. Some studies have shown the bioremediative potential of stimulating reducing bacteria to use some of the soluble radionuclides as electron acceptors and thus precipitate them out of solution. The microbial involvement in providing a barrier for radioactive element migration (uranium, technetium) and the formation of ores (eg uranium) has been justified. The mediated impact of microbial activity on radionuclide migration occurs through its effect on the ambient geochemistry by geochemical speciation changes, pH changes and changes to the ambient redox potential. As the mobility of many radionuclides depends on the pH and redox potential of the environment, these microbially mediated geochemical changes can influence radionuclide migration through changes to both the dominant radionuclide species and mineral phases.

Jan 1, 2004

Over the last five years Du Pont (Australia) Ltd has developed a commercial range of new generation emulsion based explosives concurrently with the development of new explosives-placement systems. The paper outlines Du Pont's emulsion technology and history of product development from the initial emulsions (Tovex E & EL) to emulsion/ANFO blends (Tovex BE) through to the most recent development of Du Pont's SOL emulsion component. The paper also outlines the development of materials handling systems on site to load waterproof bulk explosives from the original pumper trucks through to the multipurpose agitator bowl blending and pumping units at the heart of Du Pont's SOL emulsion system currently available within Australia. The last section deals with some of the more important features of enhanced agitator bowl truck designs and outlines examples of the complete SOL emulsion system and methods of operations currently practiced at specific mines within the Bowen Basin coalfields.

Jan 1, 1986

Many of the large refrigeration plants used in, the cooling systems on deep South African gold mines are situated on surface where they are exposed to seasonally and diurnally varying climatic conditions, and to a diurnally varying demand for cooling made by the mine. It has been traditional to accommodate the seasonal variation in climate by manual control applied to the plants at appropriate times of the year, and the plants have normally been specified to conform passively to the diurnal variations. This paper introduces new strategies for the active automatic control of the plants on a diurnal cycle, and shows that attractive benefits in energy and chilled water resource management can be accrued through the use of these strategies. The results have been derived through the modelling and simulation of a representative refrigeration plant.

Jan 1, 1985

Agglomeration pre-treatment is a new process now being used here and overseas whereby problems arising with the heap leaching of gold and silver from materials containing critical amounts of fines or clay can be simply and cheaply overcome. The technique involves mixing the material with a suitable binder, commonly Portland Cement, and tumbling the moistened material to agglomerate the fines. These agglomerates are placed on the leach pad and cured prior to leaching. Test results, plant and operating cost data are presented. INTRODUCTION Heap leaching is a low capital and operating cost alternative to conven tional processing techniques for gold and silver extraction. A number of commercial-scale operations have recently started in the United States and the method is being considered for further deposits there and elsewhere.

Jan 1, 1982

To secure a sustainable competitive advantage some smelters may need strategies based on flexibility in feed and product ranges depending on immediate future projections of profitability. This paper explores the technical requirements for strategic diversity in smelting, leaving procurement, marketing and contractual considerations aside. The days when a smelting operation is tied specifically to say only processing zinc concentrates are perhaps drawing to a close. While internationally traded mineral concentrates are available, attractive business opportunities must exist for fully diversified custom smelters. Certain new and emerging technologies have inherent characteristics that are evaluated in this context. The paper identifies the basic building blocks that will permit such a scenario and assesses the technical feasibility. The ability to respond flexibly to environmental pressures is highlighted as being of paramount importance.

Jan 1, 1996

By R Lastra

Applied mineralogy involves conducting investigations on ores, minerals and materials to solve problems encountered in mining, metallurgy, processing, industrial minerals, environment, health and other fields. The investigations are performed to determine the mineral behaviours during processing by using every mineral and ore characterisation technique and appropriate instruments. As the field is young, new techniques and instruments are still being developed. This paper attempts to convey the scope of the field by:describing the capabilities of the respective research instruments for determining mineral characteristics, summarising investigations of gold as an example of applied mineralogy studies of precious metals, andpresenting a case history where applied mineralogists worked closely with mineral processing engineers on a base metal ore and mill products to help the engineers optimise their processes for maximum recoveries.

Jan 1, 2008

The weathering of different types of base metal deposits in the semi-arid environment of the Lachlan Fold Belt of western New South Wales affects the geochemistry of outcropping ironstones (gossans) and derived soils. W eathering of the pyrite- and pyrrhotite-rich mineralisation at the Elura Zn-Pb-Ag deposit leads to highly acidic conditions and strong depletion of Cd and Zn throughout the profile. There are local attainments of high concentrations of Ag, As, Ba, Cu, Hg, Pb, Sb and Sn in the profile and As, Ba, Pb and Sb are still highly anomalous in surficial material (ironstone and soil). However, at Parkers Hill, in the Mineral Hill Field, the primary Zn-Pb mineralisation is pyrite-poor and so weathering is not as acidic as at Elura. Thus, although Ag, As, Cd, Cu, Sb and Zn may be concentrated at various levels in the Parkers Hill weathering profile, Cu and Zn (as well as As, Pb and Sb) are retained in surficial ironstones in essentially the same abundances as in primary mineralisation. Thus, variations in the suite of geochemical indicators present in ironstones and residual soils are likely to reflect differences in the original mineralogy and the degree of acidity produced during the weathering of base metal mineralisation. Hence, an understanding of weathering processes is necessary to fully interpret exploration geochemical data.

Jan 1, 2004

By Lu S, Zhou S

The flash smelting technology employed in Jinchuan demands a better mineral processing concentrate with an MgO content below 6.5 per cent. Two ways for MgO removal have been investigated in detail based on properties and process mineralogical characteristics of the rich ores in the number one mining area in Jinchuan. The key to the first way is the use of a new flowsheet which has two-stage grinding and separation followed by single-stage regrinding and multi-stage cleaning for the rougher concentrate. The second approach utilises two novel reagents, AT-131 and AT-202, which have been developed recently. Excellent metallurgical performance has been obtained in a commercial test and a batch test, respectively. The MgO content of flotation concentrate can be reduced to about six per cent.

Jan 1, 1996

Large scale open pit mining at Ok Tedi and Misima are described in this paper. The paper also presents the socio-political problems encountered in the construction, operation and waste disposal of high technology, high output gold and copper mines in very remote and rugged terrains. Despite these handicaps, mining companies from all over the world have established top class mining facilities including huge open pits, underground mines and mineral processing plants to extract rich mineral deposits of gold, silver and copper.Papua New Guinea is the sixth largest gold and copper producer in the world. New projects likely to come on stream before the end of this century would make it the world's third largest gold producer. The mining industry is the largest organised industry in the country employing over 10 000 persons and investing over US $1000 million on these mega projects per year.

Jan 1, 1992

By J Zhou, X Bi, Y Yan, W Peng, H Yang, D Weng, P Li

Fortescue Metals Group (FMG) fines from Western Australia is a hematite and limonite mix characterised by high crystal water content. Due to its higher supply capacity and lower prices, the Wuhan Iron and Steel Corporation (Group) intended to use more FMG fines in the sinter mix. It is understood that sinter quality is closely related to its microstructure featured by the hardness and brittleness of different mineral phases, the content of micro pores, and trans-cracks. In order to maintain sinter qualities such as tumble index, reducibility and so on at higher FMG fines blend ratios, a research project was initiated to study the effects of the FMG fines blending ratio on sinter microstructure. Research results showed that at higher FMG fines ratios, the hardness of hematite and magnetite were both decreased while the hardness of calcium ferrite showed a tendency to decrease. The number of cracks that were generated during Vickers hardness measurement in various mineral phases decreased, but their length was shortened, and the variation of crack lengths increased. The contents of hematite and magnetite were also reduced and the reduction of magnetite was clearer. Also the content of calcium ferrite and pores rose and the magnitude of the increase of pores was greater. Among all the mineral phases in sinter cakes, the Vickers hardness of hematite was highest within the range of 879 N/mm2 ~ 942 N/mm2, and therefore the decrease of its content in sinter and the enhancement of its brittleness, ie the number of cracks increased, were harmful to sinter strength. In addition, the excessive increase in pores content is also not favourable to sinter strength.CITATION:Bi, X, Yan, Y, Zhou, J, Peng, W, Li, P, Yang, H and Weng, D, 2013. Study of sinter microstructure with various blend ratios of Fortescue Metals Group fines, in Proceedings Iron Ore 2013 , pp 331-336 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Aug 12, 2013

By M I. Pownceby, A Torpy, C Johnson, N C. Wilson

To extract uranium from low-grade, calcrete-hosted uranium (CHU) ore is challenging owing to the presence of carbonate and swelling clay gangue minerals that require an alkaline lixiviant to be used. Western Australia possesses ~75 000 U3O8 t in CHU resources. Improvements to alkaline leach extraction practices would improve the economic potential of these deposits.A column leach study of CHU ore was run for 105 days using an alkaline carbonate-bicarbonate lixiviant. The uranium content of the liquor plateaued after 75 days at ~275 mg U/L; the calculated maximum solution capacity was 800 mg U/L. Spiked peaks and troughs were seen in the data set beyond the 60th day, where concentrations ranged from 220 - 290 mg U/L, indicating possible cyclic uptake and loss of uranium from the solution.Pristine and leached ore samples were geochemically analysed and mineralogically characterised at high resolution using a field emission gun-electron probe micro-analyser (FEG-EPMA). Results showed that leached ore samples from the top of the column contained less carnotite than pristine ore. In contrast, leached ore samples from the column base contained regions with more carnotite than pristine ore, indicating precipitation. Three carnotite grain micro-structures were identified in the leached ore; fan-spherulite, granular and core-shell cubes, with evidence for multiple growth phases.Evidence of carnotite precipitation was seen at the edge of and in pore spaces within montmorillonite and dolomite grains. The point of zero charge of both minerals is lower than the pH of the lixiviant (pH 10.8), thus the mineral surfaces are negatively charged and would not attract UO2(CO3)34- ions out of solution. Similarly, the decrease in the uranium content of the lixiviant is not attributed to super-saturation, as this was unlikely to have been achieved. Work is ongoing to understand the reason for carnotite precipitation and the fluctuations in the lixiviant uranium concentration that are seen.CITATION:Johnson, C, Pownceby, M I, Wilson, N C and Torpy, A, 2013. Microscale characterisation of pristine and processed ore - implications for leaching calcrete-hosted uranium ore, in Proceedings The Second AusIMM International Geometallurgy Conference (GeoMet) 2013 , pp 303-316 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Sep 29, 2013

By Bhattacharyya AK

With increasing demand for more efficient production from the underground coal mines in the Southern Coalfields- of New South Wales, their design and operational aspects are constantly being reviewed and improved. One key area in such pursuits is the reliable design of stable and yielding pillars. The current designs of pillars based mostly on experience leads to unnecessary sterilisation of coal or strata control problems. To explore such mine design problems, computer based modelling is increasingly being applied. In the study described in this paper, the object was to determine the particular width of pillars separating three roadways in a panel at which the pillars yielded completely and their loads largely transferred to the unmined coal at the flanks of the panel. This was approached through a computer simulation of the behaviour of the strata around a panel, in which the three roadways were separated by pillars of progressively decreasing width. A computer program called FLAC based on the finite difference method was used to simulate the relevant strata behaviour in vertical sections. The appropriate in situ values of the deformability parameters relating to the coal seam, roof and floor were determined from the back analysis of some displacement measurements in such a panel. The process involved successive modelling of a vertical section through such a panel,starting with realistic values of the parameters and varying them until the measured and the modelled displacements agreed closely. Based on the results of the numerical modelling, the width of a yielding pillar for the given conditions is Suggested.

Jan 1, 1992

By M Rankin, F Medina, R Verburg

We conducted a preliminary assessment of an extensive deposit of historic tailings discharged over a period of 40 years to the shoreline along a Southern Peruvian coastline. The tailings formed an extensive beach approximately 2.4 km long and 300 m wide. The tailings consist principally of pyrite (37 to 59 per cent), hematite (nine to 20 per cent), magnetite (three to 13 per cent) and quartz (11 to 36 per cent). The present operating company was required to evaluate the feasibility of capping the ocean side tailings deposit, however, given the size of the undertaking and the potential to reclaim residual minerals from the tailings, it was prudent to first evaluate whether capping would in fact reduce the impacts to the marine environment. Therefore this preliminary assessment examined: 1. metals contamination in tailings, shoreline porewater and marine sediments; 2. reactivity of tailings and acid generation potential; and 3. the potential for biological effects from metal contamination in the uplands tailings (solid phase) and beach porewater. Based on mineralogy, column leach studies and chemical results, the upland tailings have a high geochemical potential to acidify and release metals, especially copper, nickel and zinc, should they be subject to oxygenated and aqueous conditions. But, the extreme arid climate results in very low potential for precipitation and virtually precludes the transport of acid drainage reaction products from the upland tailings towards ocean. Wind erosion caused by offshore winds is likely a small source of tailing transport to the ocean. Since some potential exists to reprocess the tailings in the future, capping does not seem justified at present.

Jan 1, 2003

THE Taranaki oil-field is situated on the western side of the North Island of New Zealand, at about its widest part, and may be said to be the most compact and fertile part of the Dominion, for, with the exception of the. upper half of Mount Egmont and of the ranges adjoining, which absorb 36,000 acres, the whole of the area, miuus what is taken up by the rivers land streams-is suitable for settlement, and certainly two-thirds is good land. The gross area oE the district is 2,417,299 acres.The principle rivers are the Wanganui, Mokau, Waitara, Patea, and Waiwakaiho. Mount Egmont, which is 8260 ft. high, used to be called Taranaki, and from it the district takes its name (the Maori meaning of which is "sloping peak ").

Jan 1, 1911

By Mauk JL, McOnie A, Simmons SF

Three cross sections, 200 m apart, display the distribution of indicator hydrothermal minerals across the Empire zone of the Golden Cross epithermal Au-Ag deposit, Waihi, New Zealand. These minerals are used to interpret the temperature and composition of hydrothermal fluids. The distribution of interstratified illite-montmorillonite and illite indicate that temperatures ranged from 140 to >220¦C, with temperatures above 220¦C predominating. The mineral assemblage of quartz-adularia-chlorite-illite-calcite-pyrite envelops the Empire vein system and stockwork, and reflects formation from an alkali chloride water, whereas the mineral assemblage of replacement calcite-interstratified illite - montmorillonite- kaolinite forms a carapace and reflects formation from a C02-rich steam-heated water. Alkali chloride waters appear responsible for the epithermal Au-Ag mineralisation.

Jan 1, 1995

By F F. Pitard

Observation from attending many conferences around the world reveals that many people are constantly shifting from the word ‘error’ to the word ‘uncertainty’ without a clear vision of what the subtle difference is. The same applies to a large swath of the scientific literature, in which these two concepts are unfortunately often used synonymously, which is a scientific flaw of the first order. In practice, as demonstrated in the Theory of Sampling (TOS), there are both sampling errors and sampling uncertainties. Sampling errors can easily be preventively minimised, while sampling uncertainty for a preselected sampling protocol is inevitable. P M Gy’s work, supported by G Matheron’s critical reviews, demonstrates beyond any possible doubt that sampling uncertainty cannot be achieved if sampling errors are not preventively minimised by applying very stringent rules that are too often ignored by sampling practitioners. A clarification, in line with the TOS, is presented to mitigate the confusion created by circles favouring the use of uncertainty versus the use of the word error. Both words are very different in nature and scope and they are both necessary in their due place and time.CITATION:Pitard, F F, 2017. From errors to uncertainty – a clarification for proper use by the Theory of Sampling, in Proceedings Eighth World Conference on Sampling and Blending , pp 355–358 (The Australasian Institute of Mining and Metallurgy: Melbourne).

May 9, 2017

Subsidence prediction methods can be divided into two basic types: empirical and analytical. Empirical methods are based largely on a combination of experience, intuition and observations from a large number of observed subsidence data. They are simple in their application, but they are not based on any principle of mechanics. Analytical methods are based on equivalent material modelling principles, where the ground surrounding the extraction is mathematically represented by idealised materials that deform according to the principles of continuum mechanics. Wide applicability and improved understanding are the principal advantages claimed for this approach. In NSW, significant progress has been achieved in the area of subsidence prediction during the last ten years. Empirical prediction curves are available in NSW for predicting the ground movement in the Southern and Newcastle Coalfields. A' comparison of subsidence values predicted from these curves with the actual monitored values indicates that the curves are adequate for use in conjunction with the existing damage assessment methods. Future research for improving the existing empirical prediction curves can only be justified if it is cost effective. There are several numerical models currently in use in NSW for predicting subsidence. The models do not appear to be superior in their ability to predict subsidence when compared with the empirical curves. the performance of these models will no doubt improve along with advances in defining strata properties and failure mechanisms.

Jan 1, 1991