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By A A. Ndiaye, A Galli

In a companion paper on current hedging practices in the mining industry (Armstrong et al, 2009) we showed that contrary to popular belief, mining groups are still using financial derivatives to hedge against foreign exchange risk and interest rate risk, and more recently against adverse changes in energy prices, notably the oil price. This paper presents a case study on a hypothetical gold mine to illustrate the impact that hedging policies could have on its profitability by reducing the downside risk due to adverse changes in the exchange rate and increases in fuel prices. The characteristics of the hypothetical mine have been set to reproduce those of a real gold deposit, the Kisladag mine that is currently being exploited by open pit methods in Turkey. This mine was selected because its feasibility study was available to the public. Geostatistical simulations are used to reproduce the inherent uncertainty on the recoverable reserves û stochastic simulations are used to generate the variability of the other three key sources of uncertainty: the gold price, the cost of energy and the exchange rate. A simple strategy based on straightforward vanilla options (puts and calls) was developed for hedging the last two risks, on the assumption that the company sells its production at the prevailing spot price.

Jan 1, 2009

The reactions between molten aluminium and cryoIite have been determined from a material balance of all components involved in the process. The interpretation of results were supported by x-ray diffraction studies of the evolved vapours, quenched electrolyte samples, and side-reaction products.The most important reaction involves the formation of both Na2F (sodium subfluoride) and chiolite in the fused electrolyte. The Na2F accelerates vaporization of the melt. Some AIF (aluminium monofluoride) may also be formed but the proportion of this is much less than for the former subvalent compound.

Jan 1, 1968

The fundamental features of the Cable Belt Conveyor are described. It consists of independent wire ropes which take the transmission load, and a special reinforced rubber belt which acts 'only as carrier of material. The first cable belt installation in Scotland is described briefly.A general description of this type of conveyor is followed by details of the rubber belt construction and the method of joining sections of belt. The drive unit, the tensioning arrangements and the power requirements are outlined.Applications of the cable belt conveyor are 'dealt with and its advantages summarized.INTRODUCTIONThe cable belt conveyor, as its name implies is a conveyor composed of steel wire ropes and a rubber belt, in which the ropes serve as transmission members, and the belt merely as a carrier of materials.Over the years it has been the ambition of engineers connected with the belt conveyor industry to develop a conveyor that would use the high tensile strength of wire ropes to transmit the stresses involved in the driving of large capacity belt conveyors. Different lines of approach have been adopted in the United States of America and in Britain. In the United States the method adopted was to introduce a large number of flexible steel cables into the rubber belt itself, in the form of a closely packed layer arranged across the full width of the belt. These small cables are packed in a nylon filled duck envelope which is incorporated in the rubber belt. This is commonly known as the steel corded conveyor belt. In Britain, a Scottish firm developed a rubber belt conveyor in which full advantage was taken of the high tensile features of wire rope, without embodying or moulding the wire rope into the rubber belt, so that the two wire ropes and the rubber...

Jan 1, 1957

By W. J. LANGRON

This paper describes the results of VLF-EM test surveys, using the Ronka EM-16 equipment, over a selection of environments in Australia and Papua.Using comparisons with known geology, drilling information and other geophysical work it is shown that the maximum depth of penetration of the method is about 100 ft but is considerably less than this in most areas.The author believes the method could aid in geological mapping and provide a useful adjunct to aeromagnetic surveying in some areas.

Jan 1, 1972

Calculations of the temperatures of metal, coke, and gas at any level in the cupola furn~ce can be carried out by means of heat balances, using data obtained from experiments with an 18 in. experimental cupola. The results can, to a certain extent, be verified by means of heat transfer calculations.The curves thus obtained, showing the variation of temperature with height in the cupola, provide a valuable picture of the heat transfer processes in a shaft 'furnace.INTRODUCTIONThe Brown Coal Research Laboratory, of the University of Melbourne, has been engaged in recent years on a programme of iron-melting tests in an experimental cupola furnace.Although the ultimate aim of this work is to develop brown coal char as a cupola fuel, most of the experimental work so far has been with conventional coke. The testing programme was designed to provide information on the effect of variables such as blast rate, metal-coke ratio, and coke size on the overall melting process, e.g. melting rate, temperature of metal tapped, and stack gas composition.However, in many cases data were obtained on conditions inside the furnace by measuring temperatures and gas compositions. The aim of the work described in this paper was to qevelop a method for using this data to obtain information on the processes taking place in the cupola.Very little research has been done on the combustion of fuels in shaft furnaces. Early work on this subject, as well as the initial stages of the Brown Coal Research Laboratory's programme, has been discussed by Evans (1959). The use of probes for obtaining information on conditions in the interior of a shaft furnace was pioneered by Belden (1913)...

Jan 1, 1963

A brief review is given of the history of the Colliery to date together with the reasons for the development of an additional seam.Investigations into the quality of the coal ami its suitability for the production of metallurgical coke and determination of the economic mining limits and coal reserves are discussed. The commencement of mining operations and the inter-seamarrangements necessary for the disposal of coal won are described with the stages in the opening out of the seam itself and the reasons for the installation of a 48-in. trunk conveyor belt. Choke and manning of face equipment are considered and also the work of secondary development and pillar extraction.It is concluded that with modern face equipment and conveyor belt lines, concentrated mining followed by immediate extraction of pillars is practicable and is giving excellent results at Burwood Colliery.INTRODUCTIONBurwood Colliery, the total holding of which now comprises some 3,140 acres of land and 1,450 acres of sea leases, has mined the Borehole Seam since 1883. The early work took place from Nos. 1 and 2 shafts at Glenrock Lagoon and later on at Nos. 3 and 4 shafts at Whitebridge to which the centre of operations shifted in 1893, shaft sinking at this latter area having commenced in 1888.As all the early operations were confined to the Borehole Seam, reserves of coal on this horizon had been considerably reduced by the mid 1930's, so a cross measure drift was driven to the Victoria Tunnel Seam which is about 300 ft. above the Borehole Seam, and fully mechanized coal winning commenced from the second seam in 1938. Subsequently this cross measure drift was extended to the Borehole Seam and complete mechanization of the south-west sections of this seam achieved by 1945.Four track mounted mechanical units were put into operation in the latter area and these worked in a southerly and...

Jan 1, 1958

IN the irregularly shaped ore-bodies of the North Mount Lyell mine by overhead stoping, the method of filling the is a special feature.The situation of the mine two miles from the smelter and mill at an devation of 1000 ft. above the latter, precluded the economical use of granulated furnace or the mill tailings, even if these materials were as suitable for the purpose as the rock nowquarried at North Lyell methods at Mount Lyell have already been described in Proceedings of the Institute.*The breaking the ore in large dome-shaped stopes is still the rule, but the slope or "rill" is much flatter now than formerly. Owing the greater fluidity of the filling now in use, it is sometimes necessary to resort to square-sets, both at the ground floor and above, the roofs and walls are generally enough to permit stoping without timber, except for ground and occasional stacks on the rills.Sufficient area of ground floor has been beaten out to start overhead stoping, the dome back is partly formed, with its apex a rise which connects with the mullock-pass reticulation.(Sce 1 showing this reticulation in diagrammatic form.)

Jan 1, 1927

By Peddie F, Low K, Madgwick J, Rajoka M. I, Gutierrez N, Lim C

Percolation irrigation of low-grade quartz feldspar porphyry ore with pH 2.0 H2SO4 at 510 litres/m2/day using particle sizes 1.7 - 6.7 mm in columns measuring 5 cm dia × 126 cm long was used to study effects of interrupted irrigation ('rest' periods) on metal ion release and leaching bacteria. Copper tenors increased approximately 16 fold and bacterial iron oxidation activity three fold following a 14 day 'rest'. A linear relationship between copper tenor and bacterial activity demonstrated that this experimental system was effective for quantitative studies of bacterial leaching in ore colums.

Jan 1, 1981

Drill cores from Section 62, New Broken Hill Consolidated Ltd., were used to study the petrology of rocks associated with the zinc lode. The distribution of the rock types in relation to the lode structure was determined. The distribution of the gahnite-bearing rocks was shown to be only partly conformable with the structure.It was concluded that large scale metasomatism was not widespread, that the rocks associated with the lode (except, perhaps, the quartz-gahnite-garnet rocks) were formed by metamorphism of sediments, and that rocks and lode were contemporaneously metamorphosed.INTRODUCTIONThis investigation was undertaken in order to study the rock types associated with the zinc lode of the Broken Hill orebody, and their relationship to the structure of the ore horizons. The work was confined almost entirely to the laboratory, and is therefore limited in its scope. It is hoped, however, that the information gained may throw some new light on the genesis of the lode.Certain inferences which are drawn from this work are at variance with the ideas of a number of earlier workers.In particular, the idea of large scale metasomatism developing many of the rocks associated with the lode, especially those containing manganese, is questioned. On the contrary, the rocks associated with the lode are more simply explained as highly metamorphosed sediments, in some cases modified by water introduced from surrounding rocks into zones of strong folding and faulting. As a corollary, a metamorphicsedimentary origin for the lode material, either as a concentrated sulphide deposit, or somewhat disseminated...

Jan 1, 1961

The need for the hydraulic transportation of coal in the New South Wales coal industry, both from the coal face to the surface and from the coal mine to the consumer or the port for export, is explained. Details of research projects currently in'progress and involving the hydraulic transportation of New South Wales coals are given together with information on the hydraulic transportation of coal in the United States of America.The potential of hydraulic transportation as a viable alternative to the proposed expansion and upgrading of the New South Wales railway system to meet the projected New South Wales coal production to the year 2000 is described.

Jan 1, 1980

A description is given of the construction and operation of an automatic version of the coarse batch particle sizer which requires a minimum of operator supervision and which is capable of processing a sample every 4 min.

Jan 1, 1968

A homely simile will serve to epitomise an interpretation of the rock structures and associated phenomena of the block of country under review, as it appears to the writer.Disregarding the many thousands of feet of overburden that have been eroded away during the ages, the present denuded surface and rock systems below may be pictured as a slab of some titanie ribbon cake that has suffered much damage from rough handling and exposure, yet retaining much of the original symmetry of its superimposed layers of variegated colour and texture.Lateral pressure has crumpled the cake into a series of irregular corrugations and, in parts, has caused some of the layers to crush and slide over their neighbours.Following upon this squeeze, the cake has been severed into segments and rhomboidal slabs by vertical cuts, and these portions have been severely jostled one against its neighbour, crushing the faces of contact and dragging the contiguous layers in the direction of movement.The variegated icing of the cake is represented by intercalated sills of amphibolite, pegmatite, and aplite, and the body of the cake by highly altered sedimentary rocks.The icing has been assailed by the rats of erosion with such effect that only residuals of the original structures remain. The body of the cake has suffered successive waves of igneous invasion in the order of lode pegmatite, followed by zine, iron,copper, and finally by silver-lead. These successive invaders found difficult access, along certain of the vertical cuts, to the more succulent layers of the cake, where, gorging to repletion, many were imprisoned and entombed for the future service of mankind.

Jan 1, 1927

IF a straight line should be drawn on the map (See 1, page 96) through the northern half of the South Island of New Zealand, from Mt. Domett in the north to Arthur's Pass in the south, and another line drawn parallel to it and at a distance of ten miles to the west, according to the topographic scale, it will be found that within the belt thus drawn across the country all the most important mines, past and present, of the South Island are situated, with the exception of a few in Otago.The most important product of this tract being gold, and Reefton, the most important southern mining field, being situated at about its central portion, the zone may aptly be termed "The Great Reefton Gold Belt." The occurrence of so many gold mines along this particular strip of country is not at all a matter of chance, but is the outcome of cause and effect. Running along the eastern side of the gold belt are the Brunner and Victoria Ranges, which are chiefly composed of crystalline schists and metamorphic granite of probably Cambrian or Silurian age; between these and the gold-bearing series there are interposed at one or two places some beds of slates, limestones, and...

Jan 1, 1910

The history of the industry which recovers rutile and zircon from the heavy mineral beach sand deposits of Eastern Australia began with the initial discovery of zircon in 1895. Whereas a large number of small companies operated during the rutile boom of 1955-57, the industry is now controlled by a few large groups.Mining is mainly by suction dredging. Metallurgical practice is a two-stage process in which a bulk concentrate of heavy minerals, recovered by gravity methods, is separated into its constituent minerals by processes based mainly on surface, electrical, and magnetic properties.Various separating devices using these principles have been developed in the industry and combined in various ways in the operating plants.There is scope for future metallurgical developments.INTRODUCTIONThe existence of deposits of heavy minerals ("black sands") on the northern coast of New South Wales has been known for at least 90 years. The earliest metallurgical operations aimed at the recovery of gold, platinum, tin and monazite. Mainly because of the low grade of these deposits with respect to these minerals, but also due to metallurgical difficulties, such operations were abandoned by about 1895 (Whitworth, 1959). The presence of zircon was recorded quite early (Carne, 1895) but Raggatt (1925) appears to have been the first to report the presence of rutile.The economic exploitation of the deposits was initiated in 1928 when D. H. Newland, State Geologist of New York, made an examination on behalf of The Titanium Alloy Manufacturing Company of America. Developments were then delayed by the world-wide depression, and the first commercial separation of the heavy minerals was made at Byron Bay in 1934 by Zircon Rutile Ltd. using a froth...

Jan 1, 1963

By J K. Claflin, S R. La Brooy

A case study from a current Ausenco project is presented to demonstrate the importance of maintaining high carbon activity to illustrate the driving force for plant improvements such as a carbon regeneration kiln upgrade.This paper revisits the factors that influence carbon activity for gold loading, with emphasis on deactivation by organic solution components such as flotation reagents.Kiln process design requirements for effective thermal regeneration are reviewed including the interaction of parameters such as temperature, kiln atmosphere and residence time.The different types of kilns that have been used for carbon reactivation are described. A check list is provided of what to look for when purchasing a carbon reactivation system for dealing with severely fouled carbon. This covers the ancillary equipment as well as the kiln itself.While the effectiveness of the carbon reactivation kiln is vital to maintenance of high carbon activity it needs to be remembered that this is only the end of pipe solution. It is also important to ensure that reagents such as frothers and flotation collectors are appropriately chosen to maximise recovery and at the same time minimise carbon deactivation.CITATION:La Brooy, S R and Claflin, J K, 2013. Carbon management in a high gold price environment, in Proceedings MetPlant 2013 , pp 455-467 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Jul 15, 2013

By O Haavisto, N Khajehzadeh, L Koresaar

Online analysis of metal content can be used to optimise the grade and recovery of a flotation circuit. Compared to conventional laboratory analyses, the benefit of an online analyser is the speed of the measurement, therefore disturbances (eg changes in feed grade and decrease in recovery) can be reacted to in real time by an operator or automatic process control system. In some cases traditional X-ray fluorescence analysers can be applied to silica analysis in iron ore when the SiO2 grades are high enough and have a negative correlation with iron; however, generally a laser-induced breakdown spectroscopy (LIBS) analyser is more suitable for low Z elements.The Outotec Courier 8® analyser is a LIBS based analyser able to measure elements starting from lithium (Z = 3), thus being able to measure impurities; eg silica and aluminium directly in iron ore slurries. Besides online elemental analysis, the analyser can be combined with optical measurements for rapid continuous measurement of each sample line. Laboratory testing has also shown potential for mineralogical analysis using the combination of LIBS and reflectance spectroscopy.CITATION:Koresaar, L, Khajehzadeh, N, Haavisto, O and Timperi, J, 2017. Online elemental and mineral measurement of slurries in iron ore beneficiation, in Proceedings Iron Ore 2017, pp 561–566 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Jul 24, 2017

Ore from the "Staimite" lode in the Oonah mine, Zeehan, has a complex composition and contains an exceptional number of elements. Its chemical composition has been indicated by the following published figuresà

Jan 1, 1931

IN presenting a'description of milling and treatment methods at the Waihi mine, it is advisable to first traverse a good deal of the past history of the mine, and show the various steps which have led up to present-day practice. The record of the company is one of steady, solid advancement, both in metallurgical and financial results. This is illustrated by the following figures, dating back from 1897...

Jan 1, 1912

By Wingham D. W

Based upon the previous work of Norman & Loeb, a method was used to assess the comparative wearing properties of ten different alloys being used, or being considered for use, as mill liners and grinding media at Mount Isa, The materials to be tested were obtained in the form of large diameter balls, and were run, along with the regular ball charge, in a large ball mill operating under normal grinding conditions. At selected intervals, the test balls were removed from the mill, weighed and identified, and their relative wear rates determined.INTRODUCTIONInformation in metallurgical journals, from local iron and steel foundries, and from various metal promotional organizations has suggested that the various alloy compositions available should be examined and assessed for possible use as milllfners and grinding media.Previous attempts at evaluation of recommended materials for these applications elsewhere, have usually involved the purchase of large quantities of grinding balls or complete mill liner sets, requiring running periods of up to two years or more. As well as being both a costly and lengthy procedure, the information obtained may be of little significance, due to changes in milling practice, and ore characteristics during the period of operation.To overcome these difficuities, a method was adopted based on the short time wear rate test recommended by Norman & Loeb (1949) and Norman (1957) in which all the materialsunder consideration are ·subjected·concurrently to the conditions of service.Previous calculations of wear rates have been dependent1. Senior Metallurgist (Materials), Mount Isa Mines Limited.2. Metallographer, Mount Isa Mines Limited.Manuscript received at The Institute, 22nd April, 1963, and presented to the1963 Annual Conference.

Jan 1, 1963

The copper-clay deposits consist largely of goethite and clayey mudstones carrying native copper, cuprite, and chalcocite. The mudstones are of Ordovician age, are interbedded with Fe-Mn carbonates, and probably contained syngenetic iron and copper sulphides. The secondary copper minerals have been derived from post-Devonian weathering in situ and also by deposition from surfaee and underground waters draining the adjacent mineralized volcanic rocks.

Jan 1, 1969