Search Documents

By D-J Min

Strategies and achievements in the Asian steel industry to construct industrial ecological chain are reviewed largely in the case of Japan, Korea and China. Emphasis is placed on the development of resource circulatory system for the minimisation of various wastes and emissions of green house gases (GHG), toxic gases and polluting particulates. The minimisation includes:Rationalisation of iron and steelmaking processes; Implementation of available relevant measures/technologies; Life cycle assessment in designing steel from semis to assembled products; Reduction, reuse and recycling of materials and energies; and Utilisation of core competence technologies to process domestic and industrial wastes. In view of global nature of the above wastes- and emission-issues, inter-industrial linkage and international cooperation across the borders in the Asian countries have become more important. Inter-industrial linkage definitely serves to cut back the wastes and emissions. Examples of such linkage and factors influencing the sustainability of the linkage are described with expectation for further development of the linkage. Importance of international cooperation cannot be overstressed under the circumstances where steel production in China exceeded 220 Mt and world production exceeded 945 Mt in 2003 and is still increasing. Practical measures are discussed to enhance the linkage and cooperation for effectively promoting the reduction, reuse and recycling, including implications for the nonferrous industry.

Jan 1, 2004

By J T. Woodcock

This paper discusses characterisation techniques that can be applied to complex waste products from metal production and processing operations with the aim of devising treatment methods for upgrading the metal content for recycling. Two waste streams were selected to illustrate the role of characterisation in adapting mineral processing techniques to provide an effective recycling strategy. Waste products chosen were:aluminium dross, which contains metallic aluminium particles in a coarse matrix of many components; and steel shredder sludge that contains copper wire and other metallics in a matrix of plastic and natural fibres, iron oxides, metallic iron, and other compounds. Characterisation methods discussed include chemical analysis (XRF, ICP-AES, and selected specialised techniques), phase analysis (XRD, SEM, TEM, and optical microscopy), morphology (IFESEM), sizing analysis (screening, Cyclosizing, Infrasizing, Malvern sizing), and general techniques such as particle shape, surface area, and porosity determinations. The applicability of these techniques to the waste products is considered in relation to their advantages and disadvantages, and sampling issues.Treatment techniques considered for the two waste products included comminution, screening, air or water classification, simple water leaching, gravity separation, magnetic separation, flotation, and eddy current separation.Tentative flow sheets were developed for the two wastes. For aluminium dross, it was proposed to use fine crushing followed by water washing to remove soluble chlorides and aluminium nitride, and then desliming followed by flotation of the granular fraction to give a metallic aluminium-rich concentrate. For shredder sludge, it was proposed to use wet screening, water classification, and gravity concentration to produce a copper-rich product and magnetic separation to produce a metallic iron-rich product.

Jan 1, 2004

By P Carrasco, E Me, M Campos, J Tapia

Correct sampling practices are of vital importance to the mining industry; key decisions for the business are made on the basis of samples in all the value chain. Geology plays a relevant role in pre- and post-investment stages. Actually the understanding of natural variability is essential for geological modelling, geometallurgical modelling, mine planning, grade and process control. Improper sampling practices obstruct this objective introducing irrelevant variability components, which can cause monumental economic losses. A good approach to accomplish this understanding is the application of heterogeneity and IngamellsÆs tests, which are useful tools to quantify the variability of a certain well-delimited geological unit at different comminution scales. The application of heterogeneity test can help minimise Pierre GyÆs fundamental sampling error and to study the impact of other sampling errors. IngamellÆs test allows us to define the correct mass of sample for chemical analysis. This paper presents the results of several heterogeneity and IngamellsÆs tests done in Chilean porphyry copper deposits that belong to CODELCO Chile (Chuquicamata, Mina Sur, Radomiro Tomic, El Salvador, Andina and Teniente), in different geological units (endogenous oxides, exotic oxides, supergene sulfides and hypogene sulfides) and for several elements (Cut, Cus, Mo and As). These tests, considering the natural variability, have helped us develop accurate sampling protocols to minimise the fundamental error to acceptable levels. A major contribution of these tests (more than 30) is the generation of secure sampling protocols using the highest sampling constant obtained in the tests, for new porphyry copper deposits that donÆt have information given by heterogeneity and IngamellsÆs tests.

Jan 1, 2005

Ore deposit modelling is becoming an increasingly accepted tool in mineral exploration. Successful models have already been proposed for several ore deposits of base metals and gold, but tin has so far received comparatively little attention, perhaps because of an excessive preoccupatioi with alluvial operations. This situation is rapidly changing and some of the world's most profitable and newly commissioned tin mines are large, primary tin deposits. Some basic principles of ore deposit modelling are briefly reviewed and the fallacy of an excessive reliance on grade tonnage diagrams based on the tin industry worldwide is discussed. The four proposed models and submodels of large, hard-rock, tin deposits focus on basic concepts such as the spatial relationship with "tin granites", depth of emplacement and the level of erosion. General concepts are drawn. The modelling of large primary tin deposits is reviewed not only in its geological and exploration aspects but also in its mining and economic implications.

Jan 1, 1986

By D Audeyev

The Cooljarloo North Mine has been shaped not only by operational and processing challenges, but by climatic and economic factors. This paper outlines some of these challenges and discusses how the operating strategy has been altered over time to mitigate the impacts.Since commissioning the wet concentrator in 1999, there have been many typical operational challenges to maximising valuable heavy mineral (VHM) recovery. These include: varying in pit feed grades, different slimes types and volumes, sizing extremes between VHM and trash minerals and decreased equipment reliability handling rocky ore. These issues were successfully mitigated by: in pit extraction strategies, upgrade of the de-sliming circuit, thickener modifications and flocculent changes, installing upgraded and additional spiral capacity, and various Feed Preparation Plant screening initiatives. Combined with the ingenuity, persistence and patience of the operating team, VHM recovery >95 per cent has been achieved.However, typical processing challenges have not been the only hurdles. Reduced rainfall and water availability has necessitated the strategic co-disposal of tailings and slime to increase the speed of water recovery: groundwater abstraction and water storage strategies have also been altered. With an observed reduction in the speed and magnitude of groundwater recharge, overburden backfill scheduling has become a priority mine planning function.Combined with the above challenges, the prevailing foreign exchange rate and mineral product prices have impacted profitability. At the height of the Global Financial Crisis in 2009, major changes to the operating strategy were made to maintain a viable dry mining operation in 2010. Working with the mining contractor the existing scraper and semi-fixed Feed Preparation Plant set up was replaced with a movable in pit dozer trap facility. The end result of changes to the mining method and primary screening was a ten per cent reduction in unit costs. This article will elaborate on some of the above mentioned challenges and successes achieved over the past ten years of operating the Cooljarloo North Mine.

Oct 5, 2011

Minerals processing operations use a significant quantity of fossil carbon to provide energy and as reductant. Greenhouse gas emissions from the use of this fossil carbon contribute to the global increase in anthropogenic CO2 emissions to the atmosphere. In the spirit of fostering thinking about a step change in this situation, this paper explores opportunities for the use of sustainable carbon from biomass sources in a range of mineral processing operations. The exploration shows that many common processes are contenders for fossil carbon replacement and that feasible scientific research by minerals processing technologists would add to deeper understanding of the potential for a sustainable bio-carbon based industry. It is also shown that there are many dilemmas on the social, environmental and economic fronts to be solved before a biomass based industry could become a reality.

Jan 1, 2004

This paper covers only the energy uses of natural resources and does not deal with non- energy uses, which in 1975 were of the order of 10 per cent of the total consumption of energy resources. The United Nations `J' Series of Statistics ex- presses each of the various forms of energy in terms of its coal equivalent in metric tonnes and this basis is followed in this paper. One tonne of black coal (referred to as tce) has been taken as the equivalent of the following. 29 X 109 joules or 27.5 X 106 Btu 0.68 tonnes or 4.8 barrels of crude oil 750 cubic metres or 26.5 X 103 cubic feet of natural gas 1 ò5 to 3.3 tonnes of peat or lignite (world average 2.54; Victorian brown coal 3 0) 8055 kWh (at 3.6 X 106 joules or 3412 Btu per kWh at 100% efficiency) 2660 kWh at 33% efficiency of generation 50 grams of uranium present in natural uranium reactors (see note later under nuclear energy) 0.8 grams natural uranium in breeder reactors Nuclear and hydro electricity are expressed as the coal equivalent required to produce, at 33 per cent efficiency, the same amount of electricity. In other words, electricity produced by these sources is converted to its coal equivalent at the rate of 2660 kWh = 1 tonne coal.

Jan 1, 1978

By M R. Drumond

The present work presents a new theoretical interpretation of the flotation process, which can also be applied to other mineral processing physical unit operations. This interpretation is part of the æModelo OperacionalÆ (Operational Model) that was developed as an attempt to establish a new theoretical basis for mineral processing unit operations. In the case of flotation, a book was edited by one of the authors in Brazil (Mass Concentration by Froth Flotation, in Portuguese and Spanish).The model establishes a link between a natural phenomenon (migration of particles from the pulp to the froth) and a real industrial phenomenon (mass concentration by operational interference). In this model, flotation is viewed as a phenomenon of macromolecular mass transport (of particles) between froth and slurry phases. Mechanisms for mass transport and particle flow between phases as a function of the hydrophobic potential in each phase are discussed. By establishing the so-called equilibrium distribution curve between phases it is possible to calculate macroscopic balances that are related to metallurgical results, which in turn are a function of the operational line that is required by the process itself. The number of cleaning stages and their efficiencies can also be determined by simple laboratory-scale experiments.

Jan 1, 2005

By P Velletri, N Gaylard

The management of wear surfaces in mining operations has remained largely unchanged since the inception of mining. Sacrificial wear liners are installed on the inside of chutes, hoppers and other equipment used to transfer bulk ore to protect the asset from abrasive wear caused by the flow of material. These liners are generally replaced at fixed intervals which may be determined based on historical wear rates or may be driven by other maintenance requirements for that asset. This approach does not always yield satisfactory results, especially for critical assets where the impact of downtime on production can be substantial. For such assets, a condition-based maintenance strategy has the potential to significantly increase productivity and reduce the total cost of ownership associated with the asset. However, for such a strategy to be successful, timely information on the actual condition (remaining thickness) of the wear liners is essential. This paper describes the development and implementation of a wear monitoring system that can be used to remotely and continuously report on remaining liner material thickness in real time. It details some of the challenges that were overcome when developing the system, including the design of a patented thickness measuring system that can be used in a variety of liner materials and is tolerant to the presence of ore on the wear surface. The paper also explains how a cloud-based approach enables data from the wear sensors to be integrated into external systems such as a data historian, which has been demonstrated through a collaborative project with one of the largest iron ore producers in the Pilbara. This ability to combine real time liner thickness information with other data sources, such as throughput, provides the foundation for the transition to a condition-based maintenance strategy.

Nov 8, 2021

The Mt Keith Mining Alliance operates a fleet of large capacity hydraulic face shovels and more than 40 X 240 t capacity haul trucks to deliver annual production in excess of 40 Mbcm per annum. The Mt Keith Nickel mine is currently operating at a depth to 300 m below surface with a planned final depth of the order of 500 m. As is the case with any large open pit managing the health of the workforce on continuous shift operations is of critical importance to achieving outstanding safety and production outcomes. Fatigue management at Mt Keith is effectively managed by the personnel operating the mining equipment, with assistance and understanding of the management team and supervisors. The program has been driven through the introduction of Fatigue Champions and a comprehensive management plan that includes education, individual health plans and the use of new technologies. Mt Keith has been instrumental in trialling new technology which assists in monitoring fatigue in operations personnel. Insight into these developments is provided in the context of the overall fatigue management plan. The field trials of the OptAlert(TM) system and how it assists in measuring fatigue is explained. The implications for individual operators and the context for a fleet wide approach to fatigue management is also discussed. Mt Keith has recently completed the second phase of trials with the result that this new and exciting technology is being considered for adoption globally across BHP BillitonÆs open pit mining operations.

Jan 1, 2007

By K Williams, M Pender, T Honeyands, T Krull, D McCallum, R Holmes, R Orense

Bulk cargoes, including iron ore fines, must be shipped according to the rules agreed by the member states of the International Maritime Organization (IMO). One critical safety measure is the transportable moisture limit (T?ML) required for Group A cargoes (cargoes that may liquefy). A number of shipping incidents involving iron ore fines from India, where liquefaction of the cargo was suspected to be the cause, have brought the issue of iron ore fines T?ML into the spotlight. Extensive research has been undertaken by the major iron ore producers from Australia and Brazil to support the IMO in developing regulations for the shipment of iron ore fines. To this end, iron ore companies sponsored the AMIRA P1097 project to establish a modified T?ML test approach specific to iron ore fines. The project was undertaken by TUNRA Bulk Solids, CSIRO’s Centre for Bulk Solids and Particulate Technology and the University of Auckland, with project leadership provided by Creative Process Innovation. This program of work supported test work findings from the IMO Iron Ore Technical Working Group, which reported its findings in September 2013.The purpose of this paper is to present the major research findings from the AMIRA P1097 project, which includes a review of the original T?ML methods, highlights of the research that supported the new iron ore fines T?ML method and an outline of current iron ore T?ML requirements.CITATION:Williams, K, Honeyands, T, Holmes, R, Orense, R, Roberts, A, Pender, M, McCallum, D and Krull, T, 2015. Maritime bulk cargo transportable moisture limit requirements for iron ore shipments, in Proceedings Iron Ore 2015, pp 399–410 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Jul 13, 2015

Many persons hold the opinion that the metal indus- ries are fortuitous and that the occupation is one of sordid toil, and altogether a kind of business requir- ing not so much skill as labour. But as for myself, when I reflect carefully upon its special points one by one, it appears to be far otherwise. So wrote Georgius Agricola in 1556. He could have been espousing the sentiments of an indus- trial archaeologist investigating mining sites in 1986. South Australia has a very rich legacy from its industrial past-especially in the area of its mining history. Industrial archaeology, which is part of the broad field of archaeology, is concerned with the material and documentary remains of this industrial past. This includes the products and processes of manufacturing, industrial, technolog- ical and engineering activity and their relation- ships to people and the environment. `Archaeology' immediately conjures up the image of excavations in Greece or Eygpt. Excavation however is only a part of archaeological methodology. Industrial archaeology utilizes documentary historical rec- ords combined with field survey techniques (both above and below ground) to create a composite picture of the past. Interest in our recent past has burgeoned in Australia in the last few years. This interest manifests itself in many ways-the unprecedented popularity of Australiana and col- lecting, the plethora of Australian historic films, the growth of the National Trust, local historical societies and genealogical research. Fortunately these trends have been reflected in academic and legislative circles. Various univers- ities, institutes of technology and colleges of advanced education run courses in aspects of cul- tural resource management and conservation of the historic environment. These courses are com- prised of archaeology, architecture, geography, his- tory, materials conservation, museum studies, and national parks management and planning.

Jan 1, 1987

By S K. Panda, M A. Van Ende, S Chatterjee

Tata Steel Netherlands (TSN) aims to reduce its CO2 emissions by 35–40 per cent by 2030 and become CO2 neutral by 2045. A first step to reach these targets is via the utilisation of an Electric Arc Furnace (EAF), which will run on a mixture of high proportion of Direct Reduced Iron (DRI) and scrap. For an EAF operation, optimisation of slag chemistry is important to achieve the right mix of basicity (for refining especially dephosphorisation), foaming, volume (rate) and refractory life. Slag composition and rate can vary widely depending on the process variables like charge mix, charge composition, feeding rate, oxygen lancing, external carbon injection/addition, fluxing and refractory erosion/corrosion. Moreover, it is important to note that the slag composition and rate are ‘transient’ parameters and change throughout the heat. This makes all the dependent phenomena and/or outcomes transient as well. To describe all these effects simultaneously and be able to realistically simulate the EAF operations, a validated dynamic process model is important in the absence of real plant data. In this study, a validated dynamic EAF process model based on the concept of Effective Equilibrium Reaction Zone (EERZ) has been utilised to analyse the impact of high DRI industrial scale EAF operations on the transient slag characteristics – including slag volume (rate), composition, phases, solid fraction and viscosity. Simultaneously, the model is able to predict the impact on steel and offgas characteristics. Case studies were performed with 70 per cent DRI:30 per cent scrap mix considering both low and high-grade DRI. Both melting and refining aspects of the process including continuous feeding, arcing program, carbon addition, fluxing and oxy-lancing were considered.

Jun 19, 2024

By Orr D. B

This is a case history of prospec- ting carried out by Comstaff Pty. Ltd. over the Pinnacles Area, part 4 of Exploration Licence 5/63, 9 km north of Rosebery in Western Tasmania. Evidence is presented to show that A 0 soil samp ling is a viable prospecting method for outlining polymetallic sulphide occur- rences in areas where leached organic/ glacial soils are common. Diamond drilling of low threshold anomalies has intersected base metal mineralisation.

Jan 1, 1977

By R Araya, G Harbort, D R. Seaman, L Huynh, P D. Munro

In today’s operating environment many conventional cleaner circuits struggle to produce final grade concentrate with acceptable levels of non-sulfide gangue and/or penalty elements. This is primarily due to poor selectivity and the entrainment of gangue, and is further exacerbated by the processing of lower grade ores with more complex mineralogy that require finer grinding for liberation. In new concentrators, the standard approach to cleaner circuit design is to define the number of stages of mechanical cells required to achieve the desired concentrate grade. Residence time is the primary factor to size cells and to determine the number of cells required to attain target recovery. While it is required for recovery, a bank of mechanical cells is not the ideal solution to maximise concentrate grade. Relatively coarse bubble size means slow flotation of fines, requiring long residence times. The combination of long residence times and no froth washing means higher entrainment as the pulp becomes more barren and froth stability decreases down a bank.In recent years, the Jameson Cell technology has been retrofitted into a number of concentrators around the world to solve both cleaner circuit capacity and concentrate grade issues. Jameson Cells have been installed at the head of conventional cleaner circuits to produce final grade concentrate in a single step of flotation using a single cell (referred to here as ‘cleaner scalping’ duty). The experience gained from these installations has provided the platform for the design of improved and simpler cleaner circuits that will perform better and be more robust to operate. This paper analyses traditional cleaner circuit designs and explains the philosophy behind new hybrid cleaner circuits, which use Jameson Cells to produce final concentrate and mechanical cells for a ‘cleaner scavenger’ duty. The advantages of the new cleaner circuit design are demonstrated by a case study from an operating plant. Engineering studies show that the better metallurgical performance can be achieved with less equipment than conventional cleaning designs, reducing capital cost, operating cost, and with more than 30 per cent energy savings.Finally, the paper describes simple modifications to the standard laboratory flotation test procedures which accurately simulate this new cleaner circuit using routine equipment.CITATION:Huynh, L, Araya, R, Seaman, D R, Harbort, G and Munro, P D, 2014. Improved cleaner circuit design for better performance using the Jameson Cell, in Proceedings 12th AusIMM Mill Operators’ Conference 2014 , pp 141–152 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Sep 1, 2014

By J Franke, C Gonzalez

One of the regular tasks of geotechnical and mining engineers is the measurement and management of deformation in underground excavations. Although several methods are used to do so, the incumbent methodologies for monitoring deformation and ground support serviceability are limited to the use of visual observations or measurements at discrete points, resulting in a qualitative assessment only. The introduction of LiDAR technology allows a quantitative assessment across the entire excavation volume and its rock surface, by collecting a full three-dimensional image of the entirety of an excavation such as an underground drive, decline, or a tunnel. Comparisons between epochs of complete 3D data coverage allows for change detection over time that doesn’t feature otherwise typical omissions. The implementation of regular scanning has shown to be highly advantageous for mines with swelling or squeezing ground, but also at mines with rapid deformation. Despite the LiDAR potential, its adoption has been slow. A key reason for that is that working with point clouds is foreign to most geotechnical engineers. Point clouds have long been the realm of surveyors, but to fully adopt their use in geomechanics requires retraining, upskilling, and devotion by the individuals and the company. Sites are already stretched, so often there are insufficient resources to be applied to bringing the new technology into use. The solution to this hurdle is to partner with subject matter experts to achieve the desired high-quality outcomes without the commitment of time by geotechnical personnel. This paper presents a new solution of fully automated raw LiDAR point cloud data processing that not only enables geotechnical engineers to avoid having to learn unrelated skills by allowing for deformation monitoring without associated training or expertise, but it also provides instant reporting results as well as a sophisticated database with features otherwise not available. All data processing time and effort is completely replaced by an automated process which at the same time opens up the opportunity to monitor many more excavation volumes at a higher frequency than is possible with conventional tools and methodology.

Nov 29, 2022

By T Leach, F Kaiqiang

The Jianchaling gold deposit is located about 1200 km south west of Beijing in central China. The deposit was discovered in 1988 by the Northwestern Geological Exploration Bureau (711 Exploration Team). Sino Gold Limited, an Australian based company, developed the mine in 1998 and is currently operating a 1000 t per day underground mine, producing about 80 000 ounces of gold per year. The pre-mine resource for Jianchaling was 1.6 million tonnes at 9.85 g/t gold. The deposit occurs within the east-west trending Mesozoic Qinling-Dabie orogenic belt formed during the Yanshanian Orogeny. In the Jianchaling region, gold mineralisation is primarily hosted by regional west-northwest to east-southeast striking faults, the most important of which, the reverse sinistral F145 fault, hosts the larger gold deposits including Jianchaling. At the mine scale, the most important zone of mineralisation is localised within a shallowly north dipping dilation on the F145 fault. Proterozoic dolomite forms the hangingwall and serpentinite and talc schist the footwall to the fault. Within the footwall, serpentinite is the most important host rock to mineralisation. Initial alteration involves replacement of serpentine to dolomite ¦ pyrite, talc to ankerite ¦ pyrite, and magnetite and chromite to pyrite, the latter locally through a transitional hematite phase. Proximal to feeder structures, the carbonate minerals have undergone partial dissolution and replacement to quartz. Gold is related to arsenean pyrite and marcasite rimming and replacement of early-formed pyrite, and associated with iron release during the processes of dolomitisation, silicification and carbonate dissolution.

Jan 1, 2004

"Geometallurgy is a discipline that seeks to improve the sustainability of the extraction of metals and minerals by promoting the smarter use of non-renewable resources, better energy efficiency and greater use of renewable energy. To achieve these goals, development of innovative technologies and approaches are being developed along the entire commodity value chain, starting with exploration and extraction and extending to reuse and recycling. This paper discusses the geometallurgy of industrial minerals with special emphasis on kaolin, a versatile industrial mineral applied in ceramics, paper, paint, plastics, rubber, pharmaceuticals, cosmetics, ink, sealants, adhesives, sanitary ware, glass fibre, toothpaste, animal feed etc. Aspects of kaolin extraction in south-west UK are analysed from a geometallurgical perspective. While geometallurgy already features in kaolin extraction, its role can be significantly expanded by combining advanced in-pit characterisation and orebody modelling with integrated planning and control of the refining and calcination process. This paper highlights the importance of innovation in realising the full potential of geometallurgy.CITATION:Glass, H J, 2016. Geometallurgy – Driving Innovation in the Mining Value Chain, in Proceedings The Third AusIMM International Geometallurgy Conference (GeoMet) 2016, pp 21–28 (The Australasian Institute of Mining and Metallurgy: Melbourne)."

Jun 15, 2016

By M W. A Asad, E Topal, D S. S Sandanayake

Underground mine planning requires an optimal stope layout as a prerequisite for the definition of an optimal production schedule. The procedure to generate an optimal stope layout considers an orebody model and economic parameters as inputs. It evaluates all possible combinations of mining blocks and creates a set of stopes by satisfying the physical mining and geotechnical constraints. Thus, the procedure is computationally complex, and generating a solution to the problem is a challenge. This paper presents an implementation of a new heuristic algorithm that solves the stope layout problem. In two case studies, the algorithm achieves 11.2 per cent and 22.5 per cent superior solutions to the industrially available maximum value neighbourhood approach.CITATION:Sandanayake, D S S, Topal, E and Asad, M W A, 2014. Implementing a new heuristic approach to the underground mine stope layout problem, in Proceedings Orebody Modelling and Strategic Mine Planning Symposium 2014 , pp 243–248 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Nov 24, 2014

By J P. Sykes, A Trench

Mineral commodity prices are subject to volatility over both the short and longer run – driving fluctuating operating margins for mining companies over time. Such market dynamics influence mine operating decisions depending on the interplay of company-specific and mineral market factors. The company factors include corporate financial strength and price-risk management strategy, as well as mining practices and methods at the operation level. The critical mineral market factor is the price of the ex-mine product. This results from underlying microeconomic and macroeconomic root-causes pertaining to mineral supply and demand, in addition to the activities of financial participants within commodity markets.Significant changes in commodity prices of an extended duration, either up or down, remain the principal influence upon mine economics – and therefore on mining practices too. Accurate and precise forecasting of commodity prices (and of relevant exchange rates) continues to prove elusive both to mineral economists and market analysts. Thus, at any given point in time, there are often widely differing price forecasts available for both the relevant commodity and currency. Companies as a result are unclear how to respond in practical operating terms to such price-side uncertainty – other than to manage incremental capital and operating expenditure. Typical company – and industry financier – responses to the difficulty in predicting future mineral commodity prices are to take measures to manage uncertainties in mining project revenues and costs. These operating practices are prudent – yet come at an economic cost: that is, lost revenue and margin opportunity is inevitable in any such system not easily capable of responding to price volatility in the market. The mine of the future will seek to capture this lost economic opportunity. This paper presents a three-stage framework for analysing commodity price forecasts to aide understanding of the commodity price cycle and the periods of high-margin opportunity.CITATION:Trench, A and Sykes, J P, 2014. Perspectives on mineral commodity price cycles and their relevance to underground mining, in Proceedings 12th AusIMM Underground Operators’ Conference 2014 , pp 19–32 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Mar 24, 2014