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Valuers of mineral properties should be aware that accountants are a major user of their opinions of value. Reliance by accountants can range from obtaining comfort that book values in balance sheets are not overstated to establishing values by which to assess the fairness of a takeover offer. Accountants using mineral property valuations clearly can't be expected to have the same level of expertise as the valuer and ""second guess"" the valuation. But they do have an obligation, under the ASC guidelines and their own professional standards, to'check the logic and reasonableness of the valuation before being able to rely on it. This means reviewing the valuation report for general sensibility, discussing the methodologies and assumptions with the valuer and being satisfied as to his competence and independence. This paper outlines how accountants use mineral property valuations, the level of scrutiny applied to such valuations and the problems commonly encountered in practice by accountants seeking to rely on them. The paper also explains how values of-mineral properties are established in company balance sheets and why these often differ, quite validly, from fair market values.

Jan 1, 1994

By R Berry, A Escolme

"Predictive geometallurgical models are being developed for the Productora Cu-Au-Mo deposit based on geochemistry to reflect variability in Cu species based on Cu sequential leach data (ie oxide, transitional-oxide, transitional-sulfide, sulfide and non-recoverable Cu).Productora, located in the coastal range of northern Chile, is a magmatic-hydrothermal tourmaline breccia-hosted, structurally controlled Cu-Au-Mo deposit hosted by a thick sequence of Jurassic rhyodacitic volcanic rocks. North and north-west striking fault sets control the distribution of mineralised breccias. Alteration is widespread, complex and pervasive. Hypogene alteration assemblages range in composition from distal magnetite-amphibole, to sodic-calcic, to sodic, to phyllic, to proximal potassic. Low-temperature advanced argillic assemblages are locally juxtaposed next to proximal high-temperature K-feldspar-tourmaline assemblages. The dominant hypogene Cu phase is chalcopyrite.A simple Cu species classification scheme based on sequential leach data and S per cent was devised to account for non-recoverable Cu (ie non-sulfide Cu), which is insoluble in weak acids. Through machine learning, a proxy for this Cu species classification scheme was developed based on: depth, Ca per cent, Cu per cent, Fe per cent, K per cent, Mn ppm, S per cent and Ln(Cu/S) plus logged regolith class, thus allowing classification to be extended to areas of the deposit where no sequential leach data are available. The modelled data has been used to generate deposit-wide 3D models for Cu species classification.The validity of the proxy Cu species classification model is being tested against the results of flotation analysis. Initial results indicate that geochemical proxies can be used to successfully predict Cu species class and provide a high density of classification data.CITATION:Escolme, A, Berry, R and Hunt, J, 2016. Predicting Cu Species Classification Using Geochemistry at the Productora Cu-Au-Mo Deposit, Chile, in Proceedings The Third AusIMM International Geometallurgy Conference (GeoMet) 2016, pp 113–118 (The Australasian Institute of Mining and Metallurgy: Melbourne)."

Jun 15, 2016

By E P. Leite, L A. Magalhpes

The Amazon Craton is one of the largest cratonic areas and comprises one of the est-endowed metallogenic provinces in the world. It hosts a number of different ore deposit types for which a variety of mineral exploration data are presently available at various scales and formats. These data, however, are not properly organised nor integrated by means of advanced spatial analysis tools. In this view, here we present a suite of neural network methods that were applied to these data, providing unprecedented mineral potential scenarios for several precious and base metals in the region. An EXTENDED ABSTRACT is available for download. A full-length paper was not prepared for this presentation.

Jan 1, 2008

By R L. Koenig

Previous papers at Metplant conferences have covered the options for crushing and grinding circuit selection. High Pressure Grinding Rolls (HPGR) may have considerable advantages over autogenous milling circuits but test work and evaluating different grinding circuits must be done to establish which circuit provides the best option. The Hawsons low grade magnetite project provides a specific example in using thorough test work, careful simulations and detail in design to allow the evaluation of grinding circuit performance. Fortunately tools are available for this evaluation and the test work for the Hawsons iron ore is detailed in this paper. The results of the test work and simulation indicates that although the Hawsons iron ore is competent in terms of autogenous milling given the medium hardness of the ore in the Drop Tests, the HPGR testing indicates that the use of HPGR is likely to use half the energy requirement. This is a characteristic of the Hawsons iron ore and is likely to be valid for other iron ores in the Braemer Iron Formation which stretches from the Hawsons lease in New South Wales to Razor Back and South Dam in South Australia. The Hawsons magnetite iron ore resource has been known from the early 1960s when CRA explored the area. However, the Pilbara region was discovered in this era and this led to development of high grade direct shipping grade hematite ores. Carpentaria Exploration (Capex) rediscovered the magnetite whilst undertaking multi-commodity exploration in the Broken Hill district during 2009. The magnetite grade was found to be low at around 16% Davis Tube mass recovery (DTR) but despite this, the project provides a positive business case as a result of the following key factors:• The mineralisation is particularly soft for crushing and grinding with a Bond Work Index of 6.3.• The mineralised rock fractures easily preferentially along grain boundaries.• The location is close to mining infrastructure and a skilled workforce in Broken Hill, 60km to the North East.• It is close to road and rail infrastructure for access to the resource.• The only contaminant in concentrate is silica.• The resource contains many billions of tonnes of magnetite mineralisation.The low Bond Work index is a key characteristic of the Hawsons iron ore and the use of autogenous milling and HPGR circuits is compared to other iron ores indicating why the plant energy requirement may be just as important as iron ore grades.

Aug 8, 2011

By P Albert, S Crispin, J Hertrijana

"An EXTENDED ABSTRACT is available for download. A full-length paper was not prepared for this presentation. The Martabe gold mine is Indonesia’s largest precious metals-only producer and is also one of few significant hard rock mine developments in the past 15 years. Martabe is located on the west coast of the island of Sumatra in the North Sumatra province. The mine commenced operation in mid-2012, producing over 280 koz of gold and 1.5 Moz of silver in its first full year of production.Martabe consists of a cluster of six currently identified high-sulfidation epithermal deposits. The deposits lie in a north–south corridor with an approximately 8 km strike length and 1.5 km width. The total Measured, Indicated and Inferred Mineral Resource Estimate of the deposits is currently 8.2 Moz of gold and over 75 Moz of silver.The exploration program at Martabe has added more than 2 Moz of gold and 15 Moz of silver to the Mineral Resource estimates (Measured, Indicated and Inferred categories) since G-Resources acquired the project in 2009. This has been achieved at an average cost of US$17 in exploration expenditure per ounce of resource added, which includes helicopter-supported drilling programs in rugged forest terrain.The factors that led to this exploration success at Martabe include: in the first instance and most importantly, recognition of the geological potential of the mineralised system continually updating and improving ‘orebody knowledge’ and applying new ideas to the exploration program ongoing engagement and consultation by world professionals with geological expertise in similar systems ongoing executive management support for the program the high quality of work completed by previous owners a strong focus on quality control, staff development and operational safety, with the JORC Code (in particular Table 1 of the Code) as the underlying basis for quality control continual and positive engagement with government, community and other external stakeholders.This paper will discuss in detail the first of these two factors. It is important for the modern exploration team to recognise that mineral potential on its own is not sufficient for exploration success, so this paper will touch on the other factors as secondary but crucial considerations.CITATION:Crispin, S, Hertrijana, J and Albert, P, 2015. Exploration success at the Martabe gold mine, Indonesia, in Proceedings PACRIM 2015 Congress, pp 567–572 (The Australasian Institute of Mining and Metallurgy: Melbourne)."

Mar 18, 2015

By C M. Côte, S Worden, K Svobodova

Mines in Queensland are transitioning to the progressive rehabilitation and closure plan (PRCP) framework. Mine operators are required to select and justify appropriate and viable post-mining land uses (PMLUs) following consideration of the surrounding landscape, community views and the objectives of local and regional planning strategies. The new approach offers opportunities for considering innovative PMLU options and collaborative use of post-closure mine assets, such as infrastructure (power, road/rail, buildings), dams and residual voids. Consideration of regional planning strategies will require a shift in thinking as mine closure is regulated and planned on an individual site basis and selection of PMLUs are commonly considered from this perspective. Planning at regional rather than site-specific scale offers strategic advantages, including the ability to align PMLU selection with the regional context and stakeholder aspirations (which could foster sustainable outcomes); address cumulative environmental and socio-economic impacts; consider options that are only viable at scale (ie across larger geographic areas); establish more extensive and connected ecological habitat corridors; reinstate larger expanses of functional agricultural land; and optimise regional resources (Hattingh, Williams and Corder, 2019). This paper presents the findings from a multidisciplinary project that identified PMLU options within Queensland’s four mining regions: the North-west Minerals Province, North Queensland, Bowen Basin and Clarence-Moreton and Surat Basin (Figure 1). To enable spatial analysis at the appropriate scale and to accommodate geographic diversity, North Queensland was divided into three geographical ‘focus areas’ – Weipa, Charters Towers and Tablelands. Delineation of the areas captured most of the mines within the wider region as well as regional characteristics and features.

Aug 2, 2023

By Zenari L, Kent D

As our mines introduce more sophisticated production technology into their operations, the dependence on communication systems is markedly increased to allow the management of the technology. However the attention given to the communication systems has lagged that given the production equipment - namely LHDs, trucks and jumbos. At times it was treated as after thought. However, this is changing as the degree of automation increases in our mines. The communication system is now being given much more priority and is genuinely becoming a part of the mine design. The transfer of information around underground, as well as between the surface and underground, is an essential day-to-day activity, with the aim being a smoothly run operation. However the mine environment is far from static, and situations arise - such as breakdowns or other incidents - that require swift analysis of the issue, its cause and its remedy. Also, as communication systems become more sophisticated their use in areas, other than direct data flow, become available. The importance of communication, its development, and new areas being impacted by communication is the subject of this Paper.

Jan 1, 1997

Thiess Dampier Mitsui's Moura-Mine is located in the south-eastern corner of Queensland's Bowen Basin, some 180 kms west of Gladstone. Current requirements of the open cut operation are to drill and blast 25 million cubic metres of overburden per year, consuming some 12,000 tonnes of explosive in order to meet the requirements of the mine's four operating draglines and one overburden shovel. By early 1985 it had become obvious that the existing drill and blast equipment and technology could not cope with the long-term needs of the open cut mining operation. Three 61R drills were in need of rebuilding or replacement. Bulk ANFO trucks working two shifts per day were unable to match the requirements of the four draglines dne to long travel distances, slow discharge rates and their inability to load water-resistant products into the increasing number of wet holes. This paper outlines the significant steps taken to introduce new equipment and technology and the resulting improvements in the mine's productivity and economics.

Jan 1, 1986

By M S. El Salmawy

In order to develop the HF-free flotation reagent system, the main objective of this investigation was to study the possibility of separation of quartz from feldspar using non-ionic surfactants as the collector. The non-ionic surfactants used were polyoxyethyl cethyl ether (PECE) and polyethylene glycol monocethyl ether (PGME). The flotation behaviour of quartz and microcline with PECE and PGME was investigated. Each surfactant was a good selective collector for quartz with its recovery being influenced by pH and surfactant concentration. Quartz is floated favourably by both types of polyoxyethylene non-ionic surfactant whereas microcline was not so much. The floatability of quartz increases as the oxyethylene length of surfactants increases. Zeta potential measurements in the system of PGME/mineral were also carried out. It was determined that in the absence of PGME the points of zero charge for quartz and microcline should be approximately at pH 2.5 and 1.8, respectively. The addition of PGME to the system causes both minerals to become less negatively charged. Differences in the zeta potential value between quartz and microcline, in the presence of PGME, were detected. It can be suggested that the interaction of the oxyethylene group to the microcline surface should not be as strong as that to the quartz surface. In the mixed surfactant system of PGME and dodecylamine acetate (DAA), a small addition of DAA causes drastic enhancement of quartz flotation in the wide pH range of 1 ~ 10. In the mixed surfactant system selective flotation of quartz from microcline would be anticipated at pH

Jan 1, 2005

By I Haine, J Penm, T Waring

During 1999 there was a considerable turnaround in world prices for most minerals and energy commodities, except for the bulk commodities (coal and iron ore). The main reasons for this turnaround were: improved prospects in demand for most minerals and energy commodities in the Asian region following a return to both economic and industrial production growth in key economies in that region; continued moderate growth in demand in Europe and North America; substantial production cutbacks in a range of minerals and energy industries; effective reductions in the supply of oil by OPEC nations; and an announcement by European central banks that they would cap the amount of gold they sell and loan in the next five years. Most of these influences are expected to be sustained into the first years of the new millennium. In 2000, with exception of coal, average world prices of minerals and metals are forecast to rise significantly. Gross domestic product and industrial production is expected to grow in some European countries and most Asian countries in 2000 and, with moderate growth expected to be sustained in the United States, demand for minerals and energy is expected to increase. AustraliaÆs main bulk commodities, iron ore and coal, saw prices set for 1999 - 2000 at substantially lower levels in negotiations in early-1999. Double digit price cuts were locked in. However, similar falls appear to have been avoided for coal in Japanese Fiscal Year 2001, while increases of between four and six per cent were achieved for iron ore. Forecast modest recovery in economic growth in Japan and increasing demand elsewhere in Asia are expected to lead to tighter market conditions in 2000. Beyond 2000, world minerals and energy markets will be influenced by the expected robust global supply responses of minerals and energy companies, against a background of sustained economic growth and industrial production growth in major consuming countries. Over the medium-term, a return to declining real prices which have been evident for most commodities in the recent past, is expected as exploration, mining and processing technological change and associated productivity growth continues to reduce industry costs. While lower rates of exploration and mining investment in Australia between 1998 and 2000 will modestly constrain the rate of future industry expansion, Australia remains an important contributor to expected growth in global minerals supply over the medium-term. Australian mine production is forecast to grow between 1999 - 2000 and 2004 - 05, boosted by production from recently commissioned mines and minerals processing facilities and comissioning of other projects at advanced stages of planning.

Jan 1, 2000

The primary objective of designing, constructing, commissioning and operating a technically and economically viable processing plant cannot be achieved without a rigorous scientific understanding of the chemical principles underlying every facet of the total flowsheet, from feed preparation through to a final product. Having developed a thorough understanding of the chemistry involved, the next challenge is to match the innovative advances with the necessary engineering skills. In simple terms, there is little point in proposing a new processing route if it is not possible or practical to design, construct, commission and operate it. Thus to achieve our objective, it is necessary that processing facilities that are both smarter and cheaper be developed. This presentation highlights a number of the more significant research and development activities that are designed to facilitate the conversion of a smart idea into a real process. Following a brief discussion of several examples, the presentation concludes with the observation that a pro-active team approach is almost mandatory in order to achieve an acceptable outcome.

Jan 1, 2000

Distal air-fall ashes are widespread deposits that may record volcanism many hundreds of kilometres from their source. They are characteristically thin, fine-grained and have a low preservation potential usually being either eroded, or reworked and incorporated in overlying sediments following deposition. The most likely sites of accumulation are deep sea, lake and swamp environments where low energy conditions favour preservation. Post-depositional alteration of predominantly glassy volcanic ash is commonly extensive hampering identification of such layers in the geological record. As a result air-fall tuffs are poorly represented in the rock record and furthermore are commonly misinterpreted. Southeast Queensland during the late Triassic hosted active silicic volcanism and a number of fault-controlled basins in which coal-bearing sediments were accumulating. Silicic volcanics of late Triassic age are represented by the Brisbane Tuff in the Brisbane city area, the Chillingham Volcanics to the south of Brisbane and extending into New South Wales, the North Arm and Mount Byron Volcanics to the north of Brisbane, the Aranbanga Beds exposed around Gayndah and the Agnes Waters and Muncon Volcanics which occur northwest of Bundaberg. Stephens (1986) interprets these Volcanics as the remnants of a major silicic igneous 'province which he likens to modern continental orogenic margins. The Ipswich, Tarong and Callide Basins of southeast Queensland all contain coal measure sequences of late Triassic age that accumulated in alluvial plain environments. A Dicroidium flora is common to all and palynol.ogical evidence indicates a late Triassic (Carnian) age (de Jersey, 1975; Stevens, 1981). The coal seams of the three basins are characterised by their thickness (up to 25 m) and the presence of abundant thin, laterally persistent, kaolinite claystones (tonsteins) that show a marked similarity of morphology, texture and mineralogy. Detailed studies of the Ipswich Coal Measures (Falkner, 1986) suggest a volcanic air-fall origin for the tonsteins of the Ipswich Basin. Similar.tonsteins from the Tarong and Callide Basins provide evidence for widespread silicic volcanism during the late Triassic in southeast Queensland.

Jan 1, 1987

By E R. Ramanaidou

The presence of clays in channel iron deposits (CID) within the Pilbara region of Western Australia causes problems in the classification and subsequent processing of the iron ore. In particular, the presence of clay adversely affects the processing and ore metallurgical properties by increasing the amount of Si and Al. Iron ore companies are seeking new methods to quickly and objectively detect the type and amount of clay in these deposits. Traditional methods of clay quantification such as X-ray diffraction (XRD) and thermal analysis are time consuming and expensive. Reliance on bulk chemical techniques (eg X-ray fluorescence, (XRF)) to derive normative mineral abundances can give misleading results. For example, the replacement of Fe by Al in the structure of the iron oxide minerals, goethite and haematite, which dominate in CIDs, can be significant. Silicon can also occur in association with these Fe minerals. If not accounted for, chemical techniques may overestimate the normative abundance of clays. In comparison, reflectance spectroscopy in the visible-to-near infrared (VNIR) and short wave infrared (SWIR) wavelength range (eg 400 - 2500 nm) and Fourier transform infrared (FTIR) (6000 - 900 cm-1) analysis are non-destructive techniques that can provide rapid and objective mineralogical information. Both techniques are particularly suited to Al-, Fe- and Mg-OH bearing minerals such as clays. Kaolinite and, to a lesser extent, montmorillonite are the most common clay contaminants that occur in the Pilbara CIDs. Previous applications of VNIR-SWIR spectroscopy have demonstrated the potential of these methods in quantifying the clay mineralogy of CID ore. In this study, variations in the depth of diagnostic spectral adsorption features in the SWIR wavelength range of kaolinite and montmorillonite in standardised mixtures, with known proportions of clay, were well correlated to the abundance of kaolinite and montmorillonite, and to the clay alumina content (ie per cent Al2O3 û clay).

Jan 1, 2007

By J-M Rendu

Substantial progress has been made over the last ten years in the development of uniform national and international standards covering the definition, estimation and public reporting of mineral resources and mineral reserves. Agreement between the major participating countries has been reached, which includes the requirement that a Competent Person prepare and approve publication of mineral resources and reserves. Most national regulatory organisations have accepted the new standards and have included them in the rules that must be followed by mining companies operating under their jurisdiction. These developments are the result of a concerted effort on the part of professional societies, national regulatory agencies, international organisations, and many dedicated individuals. The historical development of these standards is summarised in this paper. Accepted definitions of mineral resources and mineral reserves are discussed, as well as the definition and role of the Competent Person. Additional effort is needed before the international standards are fully understood, accepted and followed by mining companies, regulatory agencies, the investment community and the general public. Steps being taken toward development of an International Code are outlined.

Jan 1, 2002

Although few people know of it, Woodlark Island produced a relatively large quantity of gold in a short period at the turn of the century. Deaths of miners, enticement to richer fields elsewhere, and world wars have contributed to the abandonment of these gold fields to their present obscurity. In the mining boom, companies were formed, amalgamated and bought-out in a flurry of activity but present records are incomplete. The main sources of information are annual reports of the Department of Land Surveys and Mines in Papua, a few geologists' publications (notably Pinder,1901; Stanley, 1912, 1923; Trail,1967) and a variety of unpublished data. The first traces of gold in New Guinea were'found by Saavedra in 1528. The first gold in Papua was found near Port Moresby in 1878. The next discovery was at Sudest Island in 1888 followed by Misima Island in 1889 and Woodlark Island in 1894. By 1910 the "Murua Goldfield" (Woodlark Island) had contributed over 43% of the total gold yield of the Territory of Papua.

Jan 1, 1987

By T Smith

The evaluation of a new mineral resource and its economic viability is critically dependant on the quality of the assay data as it is this data that defines the grade of the resource. However, all too often the procedures of sampling and chemical analyses used to generate such data are neglected or given little consideration until final modelling and evaluation are under way. This approach frequently requires large reassay and/or re-sampling programs to be undertaken to validate or to improve the integrity of the data base. This paper outlines a step by step approach to ensure quality data is achieved and then maintained throughout the entire exploration and resource development program. This involves the use of correct field sampling methods, assay methods designed to give the required levels of accuracy and precision and quality procedures in place to monitor the effectiveness of the overall process. Thorough documentation is an overriding and necessary part of the entire process. Practical examples are given to demonstrate the use and value of these methods.

Jan 1, 1998

By B Maybee

In underground mine planning, many potentially value-eroding decisions are made due to a lack of time and proper evaluation practices. The information required for mine planning decisions goes beyond external sources of uncertainty that are recognised by typical evaluation techniques used in the mining industry, to include technical factors (eg mine development layout) and the ability of a mineral extraction project to achieve its anticipated production levels. Due to the individual characteristics that define underground mining projects, each will exhibit a different risk profile, and thus advanced optimisation and evaluation techniques are required to capture this information.As underground mine planning tools become more sophisticated, mine planners have the capacity to investigate numerous mine sequencing options to identify the best strategy for a given project, creating higher value for shareholders. This paper describes a risk-based evaluation methodology (RbEM) that accounts for financial and technical risk in the evaluation of underground mining projects. While the use of the RbEM has been described in previous works, no benchmarking of the benefits that can be realised from a change in those decisions that are made early in the process has been undertaken. To show the benefits that can be achieved from using the RbEM, this paper updates a case study to which the RbEM was applied, and takes a retrospective look at whether additional value would have been gained by following the strategic recommendation of the RbEM versus a typical optimisation exercise that aims to maximise the net present value.CITATION:Maybee, B, 2012. Can a risk-based evaluation provide a more valuable mine design?, in Proceedings Project Evaluation 2012 , pp 53-58 (The Australasian Institute of Mining and Metallurgy: Melbourne).

May 24, 2012

Sixty years after its inception, after an alternation of periods of admiration and rejection by the industry, Sampling Theory can now be seen as going through its golden age. A brief history of its successive transformations and progresses achieved by its author, Pierre Gy, and his followers, reveals the theoretical as well as practical difficulties that had to be vanquished to reach this point. Its current level of acceptance and corresponding trends are discussed and illustrated, with an insight on its increasing real role in the industry and future prospects for its further development.

Jan 1, 2008

At Bulong, the mineralised (>0.8 per cent nickel) ore exists within numerous lithologies, which can and do occur coincidently. It is very important to discriminate between the different host units for estimation purposes, stockpiling and scheduling. This allocation of host unit has relied upon visual interpretation by the geologist recording the information, which can be very subjective by its nature. By using quantified constraints, such as assayed magnesium oxide and iron, the subjectivity of describing the host material of nickel laterite ore is reduced. The constraints permit consistent identification of the various host units, which improves the confidence in the overall estimation and scheduling of the ore.

Jan 1, 2000

The old Trekelano mining area is situated in the Cloncurry Gold and Mineral Field 14 km east-south-east of Duchess. It connected with the main Cloncurry-Dajarra railway line by a private line from Juenburra, a distance of 10 km. The distance by rail from Townsville is 561 km. The area was first mentioned circa 1902 - 1903 when a very short report said, that a Tony Allis had taken a parcel of copper ore out of a mine which, he called æThe InheritedÆ. After that report, nothing further was printed until about 1906, when traces of copper were noticed on a wagon track going to Kiama Well. The Trekelano deposit did not outcrop, with the cap covered by about two metres of soil. The deposit was named after an early pastoral holding. The early prospectors were however disappointed by TrekelanoÆs low copper grades, approximately five per cent Cu. This is understandable when, in those days, about 25 per cent was the cut-off grade for mines in the district. Meanwhile, The Hampden Mining and Smelting Company were constructing a smelter to treat their sulphide ores at Kuradala that was replacing their high grade oxides ore. By about 1910, the Hampden Mining and Smelting Company was experiencing smelting problems, and needed suitable oxidised copper ore to blend with the Kuradala pyritic ore. Someone must have remembered the Trekelano low-grade oxides, resulting in agreement to mine and cart the ore to Duchess, from where it was railed to Hampden, as Kuradala was known at that time.

Jan 1, 1998