Search Documents

By P Stoker

"An EXTENDED ABSTRACT is available for download. A full-length paper was not prepared for this presentation. Mining and exploration properties have a unique set of technical risks. Privately-owned companies considering investing in the resources sector can optimise their investment decisions by adopting a systematic technical assessment of acquisition assets, similar to the approach commonly adopted by public financial institutions and publicly-listed companies.Technical due diligence provides a process to identify key geological, mining, geotechnical, metallurgical, environmental and social risks and opportunities and determine the most likely business case and valuation of assets. Technical due diligence is commonly carried out in parallel with legal, commercial and financial due diligence, often involving the acquirer, to maximise the understanding of the investment.There are significant advantages in investors conducting a comprehensive technical due diligence, which typically involves site visits and project assessment to international standards by an independent, multidisciplinary team of experts. The outcomes provide the opportunity for the investor to make early, informed decisions and to understand and manage risks.Technical due diligence may be carried out at several stages: when considering and weighing up a number of investment options, prior to and during a transaction or immediately post-transaction. In the first stage, the outcomes will inform the choice of investment and, more particularly, whether there are any fundamental flaws in the projects being considered. In the second stage, due diligence outcomes can inform the level of investment and approach to risk management and planning. In the third stage, risks and opportunities can be investigated in more detail, allowing the investor to consider the best options to reduce risk and maximise the benefit of the investment.This paper presents a summary of the technical due diligence assessment process, its benefits to investors, common risks in mining and exploration projects known to cause mining asset write-downs and principal technical due diligence approaches.CITATION:Keogh, A, Stoker, P and Thomas, M, 2015. Benefits of due diligence in private equity mining investments – maximising value and unearthing common risks , in Proceedings PACRIM 2015 Congress, pp 115–126 (The Australasian Institute of Mining and Metallurgy: Melbourne)."

Mar 18, 2015

I once read an æarticleÆ in FHM Magazine entitled æThe Coolest Jobs There Ever WasÆ. It was about a group of guys who were pursuing careers that any person on the planet would just kill for. I distinctly remember drooling over the pages, thinking how much I would love to be Michael SchumacherÆs Chief Engineer at Ferrari, or the Principal Designer and Tester for one of the big Dutch rollercoaster companies. From that moment on, I decided that I wanted a career that was cool enough to make it into the pages of that article. Throughout my time at university, I always had that article in the back of my mind. As a result I constantly wondered about what sort of job I could end up with once I left university. More importantly, I wondered if FHM would be banging down my door to put me in the magazine! After a long and stressful job hunting process (in between completing a thesis and studying for exams) I finally managed to land myself a job with Orica Mining Services. I can honestly say I didnÆt know what to expect when I first joined Orica. Most of my friends ended up working for big mining companies, while I was offered a position with one of the biggest suppliers to these mining companies. However, I had a feeling when I was discussing the role with my future supervisor during the interview process that the job was going to be awesome. I have now spent a year working for Orica and I absolutely love it! While I feel that my job is worthy of being in that FHM article, unfortunately, I donÆt think I am going to get my opportunity to be in the magazine. Apparently I donÆt look too good in a bikini! However, I would love to have the opportunity to discuss the journey that I have taken so far û from my time as an environmental science graduate, then moving on to mining engineering, to now, being part of the Orica Mining Services Graduate Program. My suggestion is to use this paper as a resource. I have learnt during my time at university, as well as my time in the workforce, that the best people you can learn from are your peers. Take what you feel is relevant from the paper; hopefully it will help guide you in shaping your own career.

Jan 1, 2005

Incidental to the progress of a geological survey of the Kalgoorlie goldfield during 1927 - 1928 a number of specimens of telluride minerals were obtained, chiefly with the help of Mr F G Brinsden, general manager of the South Kalgoorlie mine, and Mr Ernest Williams, general manager of the Boulder Perseverance mine. This collection was supplemented by a number of small specimens, including the rare copper telluride, which were collected and preserved from the Kalgoorlie mine by Mr A E Paton, and also by a few miscellaneous specimens from the collection of MrS F C Cook, of the Palace Hotel, Kalgoorlie.An extensive knowledge of the rare tellurium-bearing minerals was compiled during the last century from occurrences in Transylvania and Colorado. The recognition of different species has been based on chemical analyses and crystallographic measurements. In a few species there has been an absence of crystalline form, and these, together with the discoveries in this century of rickardite and 'weissite', muthmannite and empressite, have depended chiefly on the chemical analysis for identification. On the other hand, the crystalline form of nagyagite and stiitzite has been described in detail, while their precise chemical formulae were doubtfully defined.The announcement of the occurrence of tellurides at Kalgoorlie by A G Holroyd in the Kalgoorlie Mine on 29 May 1896, followed by their discovery in comparative abundance, stimulated the further study of these minerals. In this locality there is a general absence of well-formed crystals, and the knowledge gained has been confined to the record and description of previously known, but exceedingly rare, species.No new species has been recorded, but the intimate association of various species resulted in early description of two supposedly new species, kalgoorlite and coolgardite. These have been discredited since the investigation by L J Spencer in 1903, based on a collection of specimens donated to the British Museum.Spencer's list of species at Kalgoorlie comprises calaverite, sylvanite (or krennnerite), petzite, coloradoite, 'and altaite, and does not include hessite, previously mentioned by Krusch. In 1912 melonite and a copper telluride were added by J A Thomson and the presence of hessite confirmed. In 1912 there also appeared a full and detailed account by E S Simpson on behalf of the WA Geological Survey, which embraced his earlier notes on the tellurides, and which represents the state of our knowledge of the Kalgoorlie minerals, practically as far as can be attained without the use of the reflecting microscope.The position has been stationary for about 18 years, and it was thought. that the best use to which the present collection of tellurides could be devoted was an attempt by mineragraphic methods to study the mineral relationships, not only of the tellurides among themselves, but also to gold and other associated minerals. The precise mineral content and relationships become a factor of added importance with the development of flotation methods of treatment at Kalgoorlie.Moreover, the study would supplement the description of the ore deposits of the Boulder Belt that has recently been published.

Jan 1, 1994

Lime and cement manufacturing has a proud history in Otago, with the earliest lime kilns appearing around 1849 at Caversham and Kaikorai in Dunedin . At Dunback or Makareao (to be precise) three well-type kilns were built by the government in 1899. In 1909 these kilns were leased to the then Milburn Lime and Cement Company. They erected a large brick Schmatolla kiln in 1909, elliptical in plan and fired by coal gas. The kiln operated up until 1944 before being left derelict. The quarry which supplied the kiln also supplied the Burnside Cement works from 1929 up until its closure in 1988. The quarry was shifted to the top of the hill in the 1950s.

Jan 1, 1992

By R C. Schodde

"An EXTENDED ABSTRACT is available for download. A full-length paper was not prepared for this presentation. Over the last decade (2005–2014), a total of 439 significant deposits of gold and base metals were found in the world. Twenty (or 4.6 per cent) of these deposits were in the Pacific/South-East Asia (Pacific/SE Asia) region. In terms of contained metal, the region accounted for 1.6 per cent of gold and 13.8 per cent of copper found in the world. With regard to nickel and zinc/lead, the region’s contributions were insignificant.Over the same period, the Pacific/SE Asia region accounted for 6.6 per cent and 12.6 per cent of all gold and copper exploration expenditures in the world respectively. After adjusting for by-product credits, unreported discoveries and likely growth in resource, the unit discovery cost for the region was US$199/oz (compared to a world average of US$50/oz). For comparison, the unit discovery costs for the previous decade were US$55/oz and US$25/oz respectively. The region’s unit discovery cost for copper was US$0.036/lb (versus a world average of US$0.040). For comparison, the unit discovery costs for the previous decade were US$0.026/lb and US$0.008/lb Cu respectively.The region’s mediocre discovery performance doesn’t reflect its distribution of known mineralisation. Some countries within the region have a very good endowment per square kilometre.It is noted that the intensity of exploration (and resulting success) would be boosted if governments provided a more mining- and investment-friendly business environment and generated better precompetitive geological data sets (to identify new exploration targets and boost the country’s perceived mineral prospectivity). A multivariable regression analysis of a decade of data from the Fraser Institute’s mining company surveys found that a ten point increase in the Policy Perception Index or a 0.1 point increase in the Mineral Potential Index could boost (in the short term) exploration expenditures by 1.9 per cent and 2.7 per cent respectively. The resulting economic benefits of an expanded mining sector would be significant. The same story applies elsewhere in the world.CITATION:Schodde, R C, 2015. Discovery performance for gold and base metals in the Pacific/South-East Asia – 2005–2014, in Proceedings PACRIM 2015 Congress, pp 25–34 (The Australasian Institute of Mining and Metallurgy: Melbourne)."

Mar 18, 2015

By Schaap W

A test on Taylor's rule of mine life using published data on open pit porphyry copper mines confirmed that mine life is, on average proportional to the fourth root of reserve tonnage. Deviations from this rule-of-thumb occur to a large extent as variations between regions that are qualitatively explained in terms of differences in grade, infrastructural needs or special taxation effects.

Jan 1, 1984

By K Akiro

Volcanogenic massive basemetal sulphide and gold mineralisation of predominantly low sulphidation style has been located within Lower Tertiary basaltic and felsic volcanic and sedimentary sequences at Ufuo, in the Left April River area, northwest Papua New Guinea. The four discrete massive sulphide bodies, which have been so far identified, occur within a 3 +5 km area situated within a north west trending structural corridor. The sulphide bodies are all localised on the margins of the corridor where the bounding major through going faults are transected by regional faults. Mineralisation is characterised by massive pyrite-bornite-sphalerite-barite-quartz-anhydrite deposition with later galena-tennantite-chalcopyrite. Minor phases include enargite, goldfieldite and bismuth sulfosalts. Jasperoidal silica lenses and bioturbated sediments are closely associated with the massive sulphides. Basemetal sulphide mineralisation is also closely associated with phyllic-style quartz-sericite- altered host rocks underlying the massive sulphide lenses. This mineralised phyllic alteration is localised to fractures, veins and breccias that cross-cut propylitic style alteration characterised by quartz, epidote, chlorite, adularia and zeolite. The mineralised system possesses several hydrothermal features consistent with a copper-rich submarine exhalative volcanic hosted massive sulphide (VHMS) system, ie discrete massive sulphide bodies with abundant barite, associated jasperoidal silica and bioturbated sediments. However, exploratory drilling of the alteration zone underlying each of the massive sulphide bodies has not identified a well-defined zoned alteration pipe that is characteristic of such systems. The alteration is also similar to that of a porphyry-related low sulphidation system in which phyllic alteration has overprinted a regional propylitic style assemblage. The presence of sporadic enargite (and ?tennantite/tetrahedrite) suggest there were intermittent pulses of acid fluids in the system probably derived from exsolved magmatic SO2 which flowed directly to the surface along reactivated faults. The occurrence of tellurium and bismuth minerals is also consistent with a magmatic contribution to the metalliferous hydrothermal fluids. It is proposed that the VHMS orebodies are the products of submarine exhalative deposition generated by a crystallising magma emplaced within crust of on-going tectonism. Ufuo mineralisation is similar to many VHMS deposits elsewhere in that it is unclear whether the metals are derived from the magma directly, or via seawater leaching of the wallrock. Additional studies such as oxygen isotope analysis may assist in resolving this issue. If the metals are shown to be of direct magmatic origin then there may be good prospects for discovering economic-grade porphyry-related mineralisation at depth below the massive sulphide deposits.

Jan 1, 1999

By J Knoblauch, D, P J. J Strobos, C Foggo

The Sally Malay Project is located 120 km north of Halls Creek in the eastern Kimberley region. Since commissioning, ongoing improvements on the plant have resulted in recoveries now greatly exceeding the initial design targets. The continual optimisation endeavours of the Sally Malay metallurgy department included an automation project that was done in close collaboration with Mintek. In this team effort, several problem areas were addressed and the FloatStar advance control system was successfully commissioned to stabilise and optimise the flotation circuit. The remote location of the Kimberley Nickel Mines operation, fly-in, fly-out roster and the current mining boom makes the acquisition of experienced flotation staff difficult. The implementation of an automated flotation control system reduces this burden and contributes to the training of inexperienced staff. This paper illustrates not only the process control improvements achieved as a result of the installation of the FloatStarÖ advanced control system, but also how it has assisted operational personnel with their understanding of the process.

Jan 1, 2006

The Crown Minerals Act provides a new+framework for the management of Crown owned minerals and requires that regard be had for the principles of the Treaty of Waitangi. The Act requires the preparation of Minerals Programmes to achieve the Act's objectives of efficient allocation of rights and the recovery of a fair financial return on its minerals. Efficient allocation requires that a permit is allocated to the party which values it most highly. A fair financial return to the Crown must be considered in the context of the economic rent available from individual mineral projects, with the proviso that a nil return to the Crown as the owner of the resource will not be considered a fair return from the community's perspective.

Jan 1, 1992

By J R. Leeming

Mining law has developed in Great Britain (GB) over centuries, mainly in response to lessons learned after disasters and other major incidents. This has led to a culture of preventing repeat accidents, rather than predicting and controlling unsafe acts or conditions.This paper explains how, initially in response to a government drive to reduce the burden on industry, the opportunity was taken to review and reform all 48 sets of GB mining-specific law into a single document. The philosophy adopted, the procedure followed and the significant changes that resulted are explained.CITATION:Leeming, J R, 2017. The complete renewal of Great Britain’s mining laws for the 21st century, in Proceedings Australian Mine Vent Conference 2017, pp 3–8 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Aug 28, 2017

By J Say, M Hawtin, L Carlon, P Cann

Historically, production from sublevels of the Ernest Henry Mine (EHM) started from blind uphole rises at the end of slot drives. Where previous investigations considered removing these slot drives and starting production with independent ore drives, any development savings were consumed when drives were extended to minimise ore loss. Since 2017, EHM and Orica have been investigating opportunities to optimise drill and blast practices by implementing Orica’s Wireless Electronic Blasting System (WEBS). To reduce ore drive development metres, a novel design was proposed utilising the WebGen™ 100 system to combine a rise with pre-charged widening firings. Initially these new rise and widening firings achieved results similar to previous EHM designs, achieving on average 81 per cent of design height and width. Due to poor performance of the fourth trial a significant re-design was required. Modifications included drill hole re-positioning, in-hole primer relocation and initiation delay adjustments. Since the re-design a step change in rise performance has been observed with rise and pre-charged widening shots averaging 95 per cent of design height and width. With rise and widening performance exceeding expectations, the removal of slot drives has allowed a substantial reduction in lateral development. Development savings of 165 m and 169 m from the RL1325 and RL1300 levels have been achieved. Primary draw and ore recovery has also increased due to the later addition of pre charged forward stripping rings. Level design changes have also significantly improved the mining cycle by allowing for a reduction in required ground support, improved secondary ventilation, a reduction of critical path development, simpler production scheduling and less wear and tear on machinery. Future mine level designs now incorporate key learnings and are proving beneficial to a variety of scenarios including changing orebody boundaries at depth.

Mar 15, 2021

By E Beltran, S Ngunz, F Orrante, F van Zyl, M Westcott

"The primary control objective of the project is to achieve milling optimisation by ensuring that the energy available for rock breakage is used as efficiently as possible. This is achieved by increasing the level of mill filing until a process constraint is reached. Stable operation against this limiting constraint is then maintained to ensure long-term optimised operation.Semi-autogenous grinding (SAG) mill control optimisation presents a number of challenges. SAG mills have multiple inputs that are used to control multiple outputs (MIMO process). Secondly, the SAG mill loading process is a ‘high inertia’ process that can be approximated as an integrating process. This means that it is open-loop unstable. The hybrid control strategy presented implements an advanced ‘load stabiliser’, which transforms this integrator process into a more manageable first order process, which can be steered stably against the constraints. This SGS hybrid Expert control strategy implemented on both SAG mills at the Porgera concentrator therefore consists of two integrated parts responsible for:stabilising the mill load to a targetdriving the mill load target to the maximum determined by the process constraints (eg maximum power draw) to maximise efficiency and throughput. A comparative study is done between the operation of the plant for a period of a month before and a month after the implementation of this strategy. The results indicated a significant improvement in the SAG mills’ stability and operation as well as a reduction of overload situations leading to a loss of throughput.Citation:Ngunz, S, van Zyl, F, Orrante, F, Beltran, E, Westcott, M and Wilson, S, 2016. Simplified Hybrid Semi-autogenous Grinding Mill Control - Explanation and Practical Results at the Porgera Concentrator, in Proceedings 13th AusIMM Mill Operators’ Conference 2016, pp 313–320 (The Australasian Institute of Mining and Metallurgy: Melbourne)."

Oct 10, 2016

By G P. Bates

The rationale for the design of the Emergency Egress (escape andentrapment) strategy for one underground metal mine has beenpreviously described (Brake, 1999). Two of the key conclusionsfor this mine, which is equipped with 30 minute oxygen-generating self-contained self-rescuers (SCSR), were the need to ensure no person is ever more than 750 m from an emergency refuge station (ERS) and that it could take up to eight hours to rescue workers from undergroundå. These conclusions were based on a number of considerations including the non-availability of a credible, æpersonalÆ entrapment procedure at the workplace, the duration of self-contained self-rescuers when used for travel, the need for rapid æclearingÆ of mine personnel to effectively and safely target mine search and rescue resources and the maximum time to either put a fire out, or to rescue affected personnel. As there is no Australian standard for refuge stationsç (or for self-rescuers), this paper follows with guidelines for the location and specification of both fixed (permanent) and relocatable Emergency Refuge Stations (ERSs) that may be applicable to other underground Australian metal mines.

Jan 1, 1999

By Stitt P. H

In Australia, the term "heavy mineral deposits" is used to denote sands which contain variable but economic quantities of the minerals rutile, ilmenite and zircon, often with minor amounts of monazite and xenotime as co-products. Australia has been a significant producer of rutile, ilmenite and zircon from such sands for fifty years and has long been the leading producer of rutile and zircon. The industry had its beginnings with the mining of present day beaches in northern NSW in 1934. Early work was small scale and in some cases involved hand winning of naturally concen- trated mineral for direct export. During World War II and immediately after the industry became increasingly mechanised and by the 1970s on the east coast operated between Newcastle, NSW north to Fraser Island in Queensland. Deposits worked included present day beaches, fossil strand lines up to 5 km or more inland from the present coast and aeolian concentrations. In the mid 1950s, operations commenced on the west coast of WA, south of Perth. Western Australian mineral sands tend to be rich in ilmenite as compared to the east coast. However the WA ilmenites are lower in chrome oxide and make a better syn- thetic rutile feedstock.

Jan 1, 1988

By R Redden

"The Didipio Gold-Copper project in the Philippines has been a well-defined reasonably high gold grade porphyry for almost two decades. OceanaGold are now bringing the project into production in late 2012 and have recently reoptimised the project with the goal of combining the inherent high grades with higher through-put than previously proposed that will see strong initial metal production. The project was discovered and well defined by 1995, but has seen some obstacles to development, namely sovereign risk, capital cost and project funding. The project strengths over this time that have kept the flames alive are: strong grades large orebody with low stripping ratios a simple beneficiation process and a clean high-grade concentrate strong support from the Philippines government.The initial study in 1998 used Gold and Copper price assumptions of $325/oz and $0.95 lb respectively. Today reserves are based on $950 and $2.85. So, being a porphyry with a large reducing grade halo, the deposit now lends itself to extraction on a much larger scale than before, without any significant capital expenditure as a larger open pit now dominates the project.Didipio is a game changer for OceanaGold, so it has been important to learn from history and to capitalise on a strong initial metal production profile. The project sits in a reasonably remote mountainous area of Luzon which sees annual typhoons and numerous short duration high intensity rainfall events and two rivers flowing through the project area, so it has not been without some innovative technical solutions.CITATION:Redden, R, 2012. Didipio - Learning the lessons, adapting and getting ready for production, in Proceedings Project Evaluation 2012, pp 67-76 (The Australasian Institute of Mining and Metallurgy: Melbourne)."

May 24, 2012

Two years ago I was sitting in a big lecture theatre at the School of Mines in Kalgoorlie at the annual New LeadersÆ Conference listening to a guy tell us all how much he loved his job, travelling the country ælegallyÆ blowing stuff up à and getting paid to do it. I would have paid to see and do the things he spoke of à now IÆm that guy. From finishing a mining engineering degree at the University of Ballarat, through the job hunt, to firing environmental blasts in Tassie and designing and implementing construction blasts in the middle of the Gold Coast. My name is Rohan Stevens and IÆm a blast-o-holic. While the æjob huntÆ we all embark on toward the end of our degrees is a stressful time, itÆs also very exciting in the current climate. There are a number of things I have learnt through both my hunt for the job that best suited me and working for the worldÆs largest explosives manufacturer. If at least you donÆt benefit from my learnings IÆm certain you will enjoy hearing about (and viewing) some of the work I have had the opportunity to be involved with over the last 18 months with Orica Mining Services.

Jan 1, 2008

The Horn Island gold and mineral field produced 194 kilograms of gold in the 4 years subsequent to its discovery in 1894, from an area of shallow workings 1.5 kilometres x 0.5 kilometres. Gold deposits in the adjacent Prince of Wales, Hammond and Possession Islands also drew attention at that time.These islands form part of a Carboniferous sequence of ignimbrites (Torres Strait Volcanics) intruded by the Badu Granite and minor volcanics within the Cape York-Oriomo Ridge. Gold is associated with the epithermal stages of igneous activity. Recent exploration has defined sub-horizontal zones of disseminated gold mineralisation in the sub-surface, as well as reserves in the outcropping sub-vertical structures mined in the past. Released estimates of 170,00 tonnes proven ore and 550,000 probable ore at 4 grams per tonne gold, have been established.Gold is mostly contained in quartz vein stockworks and hydrothermal breccias within the intensely propylitised medium grained granites which form the local host rocks within the coarse grained Badu Granite. Associated vein minerals are sulphides (primarily of lead, zinc and iron) and calcite. Various intrusions of porphyry, aplite and granodiorite occur through the prospect area.

Jan 1, 1986

I was delighted to be invited to be patron of this Joint Conference, but the challenging task you have set yourselves, and your speakers' depth of expertise, deny anyone, even the patron, the opportunity to be patronizing. Australia's history has been inextricably link- ed with the fortunes of our great mining industry. That link will remain. Just as the gold rushes of the last century, and the discoveries at Kalgoorlie and Broken Hill changed the lives of generations, so the more recent development activity in iron ore, bauxite, nickel, coal, and uranium are having a significant impact on the lives of Australians today. The minerals industry has contributed to Aust- ralia's jobs and prosperity. Mining is not free of problems, but so long as safeguards are strong and appropriate the net benefits the mining in- dustry brings Australia will continue to be enor- mous. We rely on our mining industry to find, prove, develop and sell our minerals profitably, and my Government is committed to maintaining a healthy mining industry.

Jan 1, 1978

By R G. Richards

Although most New Zealand coals are low in ash, there are situations where high ash coals could be won. Not all high ash coals can be upgraded by physical means, since the ash is either inherent in the coal or bound in such a way to make its physical removal either impractical or uneconomic. Nevertheless, the authors believe, the situations where high amounts of ash can be economically removed by physical means to make a saleable product are considerable.

Jan 1, 1979

By R Kroukamp, G Rech

CRONIMET Australia in cooperation with Speciality Metals International, the mining lease holder of the Mt Carbine Tungsten mine, have demonstrated the preconcentration and processing of large (>12 million tonnes) tailings and mine waste dumps on site in far north Queensland. The first stage of this project has proven the economic viability of preconcentration using sensor-based particle sorting whilst ensuring high recovery of industry critical tungsten minerals – wolframite and scheelite. Sensor-based sorting technology have enabled the production of a sorter product to feed the existing wet gravity plant ensuring higher recoveries and increasing concentrate production. Processing of 1,000 tonne low grade samples using the TOMRA x-ray transmission (XRT) ore sorter installed on site, has reduced the volume of material entering the downstream wet processing plant by up to 60%. The sorted 10-25mm size range produced the highest upgrade ratio (product/feed) of 24:1 and achieved sorter concentrate grade of 1.52% WO3, sorter waste grades below 0.014% WO3 and metal recoveries of up to 93.4%. The appropriately sized, barren sorter waste material is also sold as aggregate and other quarrying products and thus adding to the overall economic benefit of the project. The utilisation of the sorting technology on site has produced an economically viable project, significantly reduced capital cost, and reduced the time to market of the final tungsten concentrate. The next phase of the project includes design and installation of a larger two sorter plant capable of over 150t/h feedrate.

Nov 10, 2020