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By D P. Blair

Rio Tinto’s Hope Downs Operations are currently mining iron ore in their South Central Pit. Prior to the commencement of mine operations, Hope Downs carried out an extensive archaeological investigation and identified an ancient rock shelter lying within the proposed mine boundaries. The site is significant to the traditional owners/custodians of the land in this part of the Pilbara, and thus the final pit design was changed to preserve the rock shelter, which now lies 30 m outside the mine boundary. In order to further preserve this ancient dwelling from blast-induced damage, blast design procedures were improved over time to minimise the vibration impact when blasting close to the shelter. Blasting and vibration monitoring commenced in May 2008 using pyrotechnic delay sequences and normal-direction firing. In October 2009 electronic delays were used to reverse-fire blasts close to the shelter in order to create a damage zone between the initiating holes and the rock shelter. A detailed statistical analysis of the vibration data shows a reduction in the higher levels of vibration for blasts fired after October 2009, which is most likely caused by the created damage zone. In May 2010, a site-specific vibration model was developed and implemented, and based on Monte Carlo waveform superposition. This model was used to give a further insight and improvement to the blast delay sequences when blasting close to the shelter. However, such models are expensive to implement and have limitations, which reduces their potential for estimating the probability of getting an excessive vibration due to a given blast design. In this regard, it is more realistic and significantly less expensive to use a recently developed probabilistic analysis based on simple charge weight scaling. This analysis shows that there was a higher probability of exceeding prescribed vibration limits at the rock shelter for blasts fired before October 2009 than there was for blasts fired after October 2009.

Nov 8, 2011

THE paper is principally eoncerncd with experimental work carried out the author whilst a number of the metallurgical staff at the Cockle Creek works. The metallurgical has been discussed sufficiently for the reader to follow the course of the experiments but the actual plant has only been described in so far as it effected metallurgical treatment, since the arrangement of such a smelter is a matter of common knowledge.The lead-roasting plant consisted of Godfrey roaster, Dwight-Lloyd maehines and Huntingdon-Heberlein pots. The usual treatment was in the Godfrey furnaces, followed by sintering in the Huntingdon- Heberlein pots. The paper is divided into two parts in the Godfrey furnaces and Huntingdon-Heberlein pots. An account of experiments on the utilization of the hood gases from the Huntingdon-Heberlein pots for acid making...

Jan 1, 1924

By C A. Chaves

During most of its history, the metallurgical industry has been seen as a source of pollution for the environment. However, during the second half of the 20th century, as the world environmental legislation became more protective and the global environmental conscience consolidated, this landscape began to change. Metallurgical activities have become increasingly related to the social and environmental impacts caused by human activities. With the adoption of environmental management in steel plants, there has been a significant change in steel-related activities which have begun to introduce modern plants, managed with environmental, social and productive efficiency. More and more, steel companies search for a decrease in negative impacts of their industrial operations on the environment, fitting them to the current environmental legislation and even increasing productivity and profitability. The steel industry has started to become a clean and more efficient industry. This work presents a case study of a sustainable steel plant project, located in an environmental preservation area. The project includes treatment and reuse of industrial liquid effluents, air emissions control, noise control, recycling, recovery and adequate waste management. It also incorporates production processes using clean technologies, capable of coproducing energy resources which may be used in the plant showing how is it possible to produce steel with environmental and social responsibility and even increase the enterpriseÆs profitability.

Jan 1, 2009

By J Walshe, G Duclaux, L A. Fisher, R Hough, J S. Cleverley, M F. Gazley

Characterisation of hydrothermal gold systems across multiple scales is increasingly important for our understanding of ore deposit genesis and for targeting new mineralisation. Published work on multiscale mineral system exploration focuses either on applying a single technique across scales or on incorporating a series of techniques across a limited scale range. Typically, these studiesÆ spatial scales vary from crustal to deposit-scale and have successfully linked the distribution and shape of major orebodies to fault systems or varying lithostratigraphy. But, is this scale small enough to answer fundamental questions about the relative timing, processes interactions and mechanisms involved in the formation of ore deposits? We illustrate the potential of a deposit to microscale study, using the Plutonic Gold Mine in Western Australia as an example, to better understand hydrothermal gold systems. Using an integrated approach combining lithological and alteration logs, various geochemical data set, meso- to microscale structural and textural observations and spatial data assimilation, we have revisited the fundamental processes involved in the formation of this significant gold deposit.CITATION:Duclaux, G, Hough, R, Gazley, M F, Fisher, L A, Walshe, J and Cleverley, J S, 2013. A multiscale approach to hydrothermal gold systems - unravelling mineralisation processes at the Plutonic Gold Mine, in Proceedings World Gold 2013 , pp 95-98 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Sep 26, 2013

By C Hedemann, N Silveste, H Davis, C J. Moran

For nearly two decades water scientists have been debating the need to use appropriate models for the questions being asked and the data available. This paper puts forward a rationale for a hierarchical framework for water balance modelling as it applies to mine sites. The hierarchy is based on the complexity of models and their data requirements. Scientific models are the most complex and require the most data; next is engineering models, then systems models and the simplest representations are given by conceptual models. A position is put forward that systems models have a range of uses that the others do not provide. A systems model, called SiteMiser, is described and its calibration illustrated. The model is applied to seven coal mines from the Northern Bowen Basin in Central Queensland. Currently, there is little relationship between total water use and coal production. This relationship is not any stronger when fresh (raw) water is compared to reused water. Leading practice water use levels are simulated for all sites. The simulation results demonstrate that there is considerable opportunity to reduce water consumption and, in particular, to import less fresh (raw) water to the sites.

Jan 1, 2006

Subsurface information from the "Upper Coal Measures" of the Sydney Basin is interpreted by means of structure contour maps, isopach maps and geological cross- sections. Particular reference is made to recent coal drilling operations by the New South Wales Department of Mines. The study is restricted to the onshore portion of the Sydney Basin.

Jan 1, 1972

By A Kondratiev, A E. Moiseev

Viscosity of oxide melts is one of the fundamental physicochemical properties that plays a crucial role in important technological and natural processes like slag flow, slag/metal separation, volcano eruptions etc. However, many oxides melt at extremely high temperatures and are highly corrosive in the liquid state, which makes experimental measurement of melt viscosity by traditional experimental techniques a difficult and expensive, if not unachievable, task. In this case it might be useful to employ other methods of viscosity determination such as modelling or simulation. In the present paper the shear viscosity coefficients of selected pure refractory oxides (CaO, MgO, Al2O3 and others) have been simulated at temperatures above their melting points via the classical molecular dynamics and compared to the available viscosity data (eg experimental viscosities, other model predictions) collected by the authors. The simulation has been carried out using the noncommercial molecular dynamics simulation package LAMMPS and the Born-Mayer-Huggins potential, which parameters for the selected oxides were taken from the literature. Several viscosity calculation techniques (the Stokes-Einstein and Green-Kubo equations, the so called Einstein relations, and the non-equilibrium molecular dynamics methods) have been applied to ensure a more reliable viscosity calculation. It has been demonstrated that the simulated viscosity of the selected melts agrees with the available experimental data. It has also been shown that the simulated viscosity of a number of the oxide melts investigated is close to that calculated by phenomenological viscosity models, which supports viscosity extrapolation from the corresponding binaries and ternaries, if no experimental data is present for unary systems. In general, it has been demonstrated that the molecular dynamics simulation could provide a reasonable estimation of viscosity if no other viscosity data is available.

Jun 19, 2024

The Douglas mineral sands deposit is located 75 km north of Hamilton in western Victoria, Australia. The deposit was discovered in the late 1990s by Basin Minerals Limited and purchased by Iluka Resources Ltd in 2002. Prestrip mining commenced in December 2004, with ore mining commencing in August 2005. Douglas is the first of several projects being implemented by Iluka Resources Ltd in the Murray Basin, with all heavy mineral concentrate planned to be treated at the companyÆs mineral separation plant in Hamilton. The mineralisation at Douglas lies along the south-eastern margin of the Murray Basin. It is hosted by marine Pliocene Loxton-Parilla Sands and consists of three discrete deposits; Bondi Main, Bondi West and Bondi East. The mineralised sediments dip at a low angle to the west and lie unconformably beneath a veneer of top soil (50 - 100 mm) and subsoil (up to 600 mm) and between three to 12 m of overburden. The barren overburden, characterised by high clay content (<53 ¦m material) generally provides a stark contrast to the sandy ore, which is between 1 m (parts of Bondi East) and 15 m (Bondi Main) thick. Both overburden and ore are removed utilising standard dry mining techniques using both scraper-bulldozer and truck-excavator combinations. All ore is delivered to run-of-mine (ROM) stockpiles before being reclaimed by front end loader into the processing plant. Grade control at Douglas is based around visual dig control aided by high precision survey, which enables accurate reference to the resource drilling and block model data. Vertical excavator faces, inclined scraper faces plus regular test pits and trenches provide opportunities for in pit mapping and sampling. This data is used to refine not only the resource estimate for Douglas but also the drilling, interpretation and resource modelling methods used for similar deposits across the basin. The foundations of the geological reconciliation process at Douglas are the in pit surveys undertaken each time the mining fleet has completed building a ROM stockpile. These surveys and the subsequent interrogation of resource models enable robust estimations of the heavy mineral content of the stockpiles, which are subsequently used to predict the daily input grades into the plant during their reclamation. Reconciliation of this daily data is then undertaken at the end of each month against metallurgical production data and plant balances. Learnings and results from the reconciliation process are used to further refine subsequent resource models and modelling methods.

Jan 1, 2009

By J M. Nel

Richards Bay Minerals (RBM) has recently undertaken an exercise to improve orebody basal definition. Older mineralisation bases (pre-2005) were highly erratic using old protocol reverse circulation (RC) (also known as Air Core) drilling and interpretation. The erratic nature of this estimation tool, resulted in impractical modelling towards the end of mineralisation (EOM), difficult mine design and unrealistic reconciliation. New protocol drilling, which includes high definition SONIC drilling data, has provided more data to be available for more accurate interpretation. Recent advances in drilling methodology has allowed for better penetration depths for SONIC drilling, which was previously restricted to approximately 80 m (pre-2005). This improved data set allows more emphasis on geological interpretation with factors such as lithology, slime content, and mineral species distribution. These factors when in unique combination enable more accurate and realistic EOM data points. These points are modelled into surfaces using conditional simulation techniques and result in a vastly smoother surface and consequently, a more representative resource.

Oct 5, 2011

In the past two and a half years, over 40 000 metalliferous mining and related services personnel have been trained through an Australian Generic Safety Induction system. This is almost half of AustraliaÆs metalliferous mining related workforce. This remarkable industry acceptance and delivery of safety courses is supported by Acacia Resources, Great Central Mines, Homestake, Newcrest Mining and WMC Resources, amongst hundreds of other mining, exploration and major contracting and services companies. MARCSTA; the Mining and Resources Contractors Safety Training Association (a pro-active not-for-profit self-help group of 24 major contracting companies) developed this generic safety induction. MARCSTA set out to find the æcommon groundÆ necessary to help address the evident safety problems and cost of re-training that were plaguing development of an internationally competitive and productive export industry. The incredible expansion of Australian mining during the decade fuelled a need for out-sourcing, resulting in much larger numbers of contractors on-site. At the same time, changes within Australian legislation, community expectations and the development of huge fly-in/fly-out operations and widespread skills shortages led to a rapid labour turnover and a higher paid workforce. Many Australian mining houses also ran international operations, particularly in South East Asia and head hunted people across the world. The skill levels fluctuated and fell at some local operations. Employers could no longer rely on systematic in-house training of permanent employees to improve safety and productivity as workers could and often did move on. Serious discrepancies in both quality and quantity of safety induction training and work practices occurred. Repetitive, boring and ineffective safety training became an embarrassing and costly burden for companies and workers alike. Then a spate of mining deaths sparked highly publicity, workforce concern and a demand for improvement from government, unions and corporate stakeholders. MARCSTA recognised it had to develop a high-quality safety-training program to satisfy the needs of all employers and be acceptable to others within the industry. This induction system had to be flexible enough to meet differences in legislation between states and industry sectors and be portable to enable cost and time savings for the new transient workforce. Changes in the last two years as a result of evaluating and incorporating various Taskforce inquiries into underground mining fatalities later led to the development of the MARCSTA Underground Safety Induction. This logical development added to the run away success of MARCSTAÆs General Safety Induction and was seen to be essential for many surface mines that were planning to develop underground operations. There are many lessons that MARCSTA learnt during its development that Pacific and South East Asian mining operations can benefit from. The most important of these are the support of stakeholders within industry and the recognition of higher safety and health expectations from workers and government. This goes hand-in-hand with the productivity and return on investment expectations of companies and their shareholders.

Jan 1, 1999

By Chaturvedula V. K

Pillar extraction carried out using various methods (split and lift, Wongawilli and Old Ben) involves the formation of narrow fenders (commonly 7 m of coal) formed by driving "splits" for lifting off with a continuous miner. The strata above a split and fender adjacent to the goaf consists of a cantilever beam (usually >3 m thick) that extends from the solid coal and bridges across the fender. Lifting off the fender from the split in safe conditions depends upon the bridging capability of the cantilever and the fender strength. The nature and competence of the immediate and near roof, the support capability of the coal fender and the presence of faults and or joints can adversely affect the bridging behaviour of the cantilever. Insufficient knowledge of these parameters can lead to extraction under dangerous conditions. Remnants of fenders ("stooks") also support the cantilever and their dimensions are critical to obtain regular caving and goaf falls. Stook area, goaf roof span and roof stand-up time after lifting can be related and only a relatively small increase in stook area of 10-15 m2 can lead to a significantly increased stand-up time, especially under a massive roof. Such conditions strongly influence the re- distribution of abutment stresses and can create increased outbye pillar loading. Based on detailed underground geotechnical investigations, it is concluded that strata caveability, roof cantilever behaviour, fender H:W ratio and remnant stook size are all critical parameters for successful and safe pillar extraction.

Jan 1, 1992

By D Mcleod, S Brindley, S Green

The design and engineering of flotation circuits is driven by numerous inputs, including (in no particular order) testwork outcomes, site considerations, type of separation required, energy sensitivity of the flotation response, personal experience and preference for flotation machines, maintenance access requirements, operability, level of automation and capital constraints.This paper discusses these and other issues in the Australian context and covers the flotation of copper/gold ores and polymetallic (copper/lead/zinc) ores. The paper discusses aspects of the following: how should testwork be done and what are the important inputs and outcomes? how should testwork results be interpreted and how does this impact on equipment selection? what processes can have a critical impact on flotation circuit performance, eg thickening and regrind? what options are available with the typical æflatÆ Australia site? how do you minimise capital cost and what impact can this have on flotation circuit operation and maintenance? how should circuits be controlled and operated? Particular focus is placed on some practical aspects of process design and engineering and the potential impact that engineering decisions can have on flotation plant operation.

Jan 1, 2005

By Q Wang

Net present value (NPV) has been the main criterion in mining project evaluation and production plan optimisation. It is a common practice in NPV calculations to take into account only the tangible cost items in the corporate accounting system. The costs incurred due to damage to the local ecosystem and environment are left out and treated as externalities. Such practice on the one hand underestimates the total cost of a mining operation and, on the other hand, ignores the difference in ecological/environmental impacts between different mine plan alternatives. This paper attempts to measure the ecological costs of mining and to incorporate such costs into the evaluation scheme in mining project evaluation and mine planning. The ecological costs of mining are estimated based on the areas and types of land (eg forest land, grazing land, crop land) damaged by mining activities and the carbon emission from fossil fuel consumption. For the land areas (and their associated ecosystems) directly damaged by mining activities, the ecological costs are measured by the prevention and restoration costs, the lost values of eco-services of the damaged land, including bio-product production, soil erosion control, water run-off control, oxygen release, air pollutant absorption and formation of soil nutrients. The ecological cost of carbon emission from the energy consumption of a mining operation is measured by the cost of cultivating the equivalent forest land required to uptake the emitted carbon. A case study on a large-scale open pit mining project is presented to demonstrate the influence of ecological costs on the mine planning outcome.

Sep 26, 2011

By K C. Runge, E Tabosa, A Jankovic

Flotation recovery in geometallurgical modelling is usually predicted based on relationships developed from batch flotation testing of different ore types. These batch flotation tests are usually performed at a constant set of operating conditions and at a fixed feed grind size P80. Usually the laboratory feed grind P80 is that which is expected to be produced in the full-scale flotation circuit for that particular ore type.Flotation recovery will be a strong function of the valuable mineral particle size distribution, with lower recovery of ultra-fines due to poor flotation kinetics, optimum recovery for the intermediate sized particles and lower recovery for the coarser particles due to poorer liberation of this fraction. This valuable mineral particle size distribution is not characterised by the solids P80 parameter alone. The proportion of material in each class will also be a function of the slope of the size distribution and the degree of preferential grinding of the valuable mineral in comparison to the total mass of the ore.This paper will demonstrate (through example) how these other size distribution parameters can change with a change in grinding technology, the size and operating conditions used in a grinding unit and the characteristics of the classification technology used in conjunction with the grinding unit. Case studies will be presented that demonstrate how this can result in these parameters being very different in laboratory testing to that produced in the full-scale comminution circuit. A rule of thumb that laboratory rod milling rather than ball milling produces a size distribution most similar to that of the full-scale grinding circuit will be challenged. These differences can result in a significant change in flotation recovery. It is therefore important to consider these parameters when developing a laboratory geometallurgical program, to enable more accurate prediction of the flotation recoveries that will be achieved in the full-scale process.CITATION:Runge, K C, Tabosa, E and Jankovic, A, 2013. Particle size distribution effects that should be considered when performing flotation geometallurgical testing, in Proceedings The Second AusIMM International Geometallurgy Conference (GeoMet) 2013 , pp 335-344 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Sep 29, 2013

By Bearman R. A, Parkin R. M

In the comminution industry cone crushers are widely used for secondary and subsequent stages of size reduction. Traditionally cone crushers have been operated and monitored manually. Alteration of discharge setting is now commonly achieved via hydraulic means, however, compensation of liner wear can still involve plant shutdown and loss of production. Drift in discharge setting due to liner wear is still a major problem that must be addressed to improve product quality, consistency and reduce recirculating load. The continuous demand for better quality products and the high cost of reprocessing or discarding unsaleable material, highlights the need for re-examination of the technology associated with the crushers to ensure optimum control and system efficiency. A collaborative project between Pegson Ltd, one of the leading UK manufacturers of jaw and cone crushers, De Montfort University Leicester, and Transfer Technology plc was established to address the technological requirement for automation of the control of cone crushers. The machine chosen for the study is a 900 Autocone cone crusher manufactured by Pegson Ltd. The design philosophy is based on a mechatronic approach providing a complete solution through a distributed network of intelligent sensors, artificial intelligence technology and adaptive control. The modular design of the system ensures a progressive sophistication in technology that allows the automation to be phased in as required. This will ensure maximum benefits to all sectors of the aggregate industry. It is estimated that the automation will result in savings of around ten per cent. The savings will result from minimising the production of unsaleable products by reliable condition monitoring and automation of the control and maintenance of system parameters to optimise system efficiency. Extension of the methods and principles into the mining sector is anticipated. The control over the size of crusher product will offer great benefits to the mining industry with significant implications for subsequent milling and beneficiation processes.

Jan 1, 1995

By S S. Kanchibotla, E J. Sellers, L Julian, A Musunuri

Fume events in coalmines are typically associated with wet conditions, soft ground and deep holes. An ACARP research project used laboratory and field testing combined with literature reviews, numerical models and field investigations to characterise the influence of these conditions on the propensity for fume. This paper highlights the results for soft ground and wet conditions and proposes a proactive fume mitigation methodology. A simple numerical model is used to show how fume arises in soft rock that yields more under the loading of high-pressure, water-resistant explosive blends than for ANFO. The blends cool more rapidly after detonation into the lower temperature zone favourable for NO2 production. Low-pressure, high detonation temperature explosives are loaded or charged into soft ground. Water resistance must be considered because soft, faulted and fractured ground can lead to fume from degradation by water flow and non-ideal detonation of product in cracks.A suite of tests were developed to quantify ANFO and emulsion blend performance over time that can be carried out in a mobile laboratory on-site. Index tests such as viscosity measurement and water resistance in beakers are proposed to quantify long-term product performance because small components, such as surfactant, prill impurities and prill fines, contribute to inconsistent product performance. Water ingress experiments and detonation tests aligned with field investigations identified and characterised the role of groundwater in damaging ANFO and causing fume.Fume risk management is achieved using a proposed proactive fume mitigation methodology to characterise influences such as seasonal rain variation, groundwater flow hydrogeology, rock mass strength and structure well ahead of blast design. The design of blasts and selection of explosive products to consider expected conditions will reduce fume, improve efficiency in the mine and offer cost advantages.CITATION:Julian, L, Musunuri, A, Sellers, E J and Kanchibotla, S S, 2015. Mitigation of post-blast fume in soft ground and wet conditions, in Proceedings 11th International Symposium on Rock Fragmentation by Blasting, pp 511–518 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Aug 24, 2015

By Laing W. P

Sedimentary structures are described from the WiIlyama Complex, New South Wales. Their presence confirms lithological layering within the metasediments as bedding. These primary structures occur not only in low grade rocks as previously reported by other workers, but also in areas of medium and high grade metamorphism.Sedimentary structures include graded beds, cross beds, ripple marks, and ball and pillow structures.The observed parallelism of the early schistosity and bedding in the Broken Hill area has previously led to the idea of transposition by isoclinal folding.In the areas mapped, small scale transposition is precluded on the basis of1. uniform facing of sedimentary structures over wide areas, and2. the existence of large areas in which the early schistosity is oblique to bedding.

Jan 1, 1975

By D M. Silva, J C. Alves

According to the literature, material transportation represents 50 per cent of the operating costs for an open pit mine. In this context, this paper proposes a multistage approach for dynamic truck dispatching in real open pit mine environments, implemented in the commercial package SmartMine®, marketed by Devex SA. The first stage of this approach defines the optimal number of trucks that maximises the tonnage production by means of a robust linear programming model, which considers the operational constraints of a real mining process. The second stage uses a dynamic dispatching heuristic joining computational simulation and multicriterion optimisation techniques for decision making for truck dispatching. Another relevant contribution of this work is the publication of realistic instances collected from a dispatching system managing an iron mine, containing information about the hauling and loading fleet, the equipment situation when the working shift starts, cycle times, the time line of special occurrences (such as equipment stoppages and loading equipment reallocation in order to satisfy the mine planning) and the tonnage produced. These instances were generated with the purpose of submitting the method to the test of a real situation that considers the uncertainties existing in the process studied. The proposed approach was validated by means of a discrete event simulation model applied to the previously designated instances. Using this multistage approach as a mechanism for dispatch decision making, it is shown that the haulage fleet productivity increased when compared with the real values reported from the instances. These results are important because they show that the proposed approach generates efficient dispatch decisions for trucks operating in a real environment, reducing operating costs, increasing production and making the mine more competitive.

Sep 26, 2011

The role of a project metallurgist is diverse and covers input into the resource definition, mining studies, metallurgical test program development, process engineering and plant design, cost estimate preparation and financial analysis aspects of project feasibility studies. Mining project schedule and cost overruns can often be attributed to cutting short metallurgical test work, engineering and cost estimating leading up to commitment to development. In a significant number of cases this may result from the lack of understanding and commitment by the project proponent to the requisite metallurgical and processing studies required during the various pre-commitment stages of a mining project. Metallurgical test work, process development, engineering and cost estimating requirements for each stage of pre-commitment development are described together with a summary of the ongoing role of the project metallurgist during detailed engineering and commissioning of a process plant.

Jan 1, 2008

By S Shafiee, N Abbate

The evaluation of mining projects requires a methodology that will give flexibility and manage the existing uncertainty within the projects. The discount cash flow (DCF) and other traditional evaluation approaches, which are widely used in evaluating a significant number of mining projects, have simply assumed that the main variables remain constant in their evaluation; elements such as discounted rate, mine life, operating cost and production rate. The DCF ignores managementÆs flexibility to adapt and reforecast and revise decisions. Real options valuation (ROV) is one of the modern evaluation methodologies that provide a tool to adapt and revise mining projects under uncertainty and future variables movements. ROV brings more variables into the evaluation model compared to DCF and assumes them as uncertain and dependent. Finally, ROV provides a range of solutions that can assist in managing this flexibility.This paper endeavours to compare ROV and DCF for mining projects comprehensively and applies these two techniques in the model. The paper shows that ROV will be inclusive of extra value in mining projects due to variables not allowed for, or even ignored, when the DCF model alone is used. One of the significant advantages of the ROV method is being able to evaluate mining projects under different scenarios from the inception of the projects. Furthermore, ROV gives the ability to evaluate the mining project while allowing for abandonment, temporary suspension, or expanding the mining project. In other words, the ROV evaluation process creates an analytical environment, which allows for optimisation of the mining plan within the mining project, as well as the ability to change the capital structure dependant on existing circumstances over the life of the project. The ROV is a new evaluation method that can add value in mining project analysis and offers opportunities to amplify gains, or to mitigate losses. This paper also discusses some of the reluctance to use ROV instead of DCF in current project evaluation.CITATION:Shafiee, S and Abbate, N, 2012. Now, this is the time for mining companies to choose - Real option valuation or discount cash flow, in Proceedings Project Evaluation 2012 , pp 225-234 (The Australasian Institute of Mining and Metallurgy: Melbourne).

May 24, 2012