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Portfolio management tends to separate the functions of Asset Allocation and Stock Selection, so the person responsible for reviewing an expert's report on a company would typically be choosing between companies rather than between a company and cash or bonds. How these choices are made depends on the investment time horizon, philosophy and style. Two styles, momentum investing and value investing are contrasted and the role of valuation methods within the framework of each style is evaluated. Finally, pricing is distinguished from valuation.

Jan 1, 1994

There exist many formulae for designing coal pillars. However, when applied to a given set of mining parameters, they lead to different pillar sizes and factors of safety. From the subsidence point of view, the pillars designed as protection pillars not only have to be stable, but also have to limit subsidence over them to a level acceptable to the structure being protected. The subsidence over a pillar of given width to height ratio depends upon the mining depth. A pillar may be stable, but the subsidence over it may be quite large and unacceptable for the structure. In many cases even though pillars may yield, they support the undermined strata and reduce surface subsidence. In addition, the yielding pillars eliminate peaks and troughs in the surface subsidence profile and reduce ground strains. In a given situation, whether a pillar yields or not depends primarily upon its width in relation to mining depth.

Jan 1, 1992

By K Rees

In the ideal world of an underground mining engineer, all narrow vein orebodies would be perfectly straight and continuous, thus would be a dream to mine. However, this is usually not the case. Narrow vein orebodies generally occur in association with shear zones and while shear zones do form linear trends, they most commonly preserve undulating expressions that need to be closely monitored, particularly when overprinted by post-formed structures. The surge in mines using fibrecrete as a primary form of ground support effectively reduces the time available for geological interpretation down to a 30 minute window between bogging and shotcreting. Thus, if the quality of the data collected is not up to scratch, then there is only a limited ability to reassess using 2D face photographs. To negate this, Xstrata Nickel AustralasiaÆs Cosmos mine has upgraded its data collection procedure. Geological information is now collected using photogrammetry survey, producing 3D images of the drive. Once created, the digital image of the drive is loaded into Vulcan, thus enabling geological interpretation to be carried out along entire drives, between levels and in association with all other data (eg drill holes, seismic data, etc). In addition to this, the 3D image can be used to accurately model the location of the ore, enabling stoping panels to be confidently positioned to maximise grade and minimise dilution. However, with the focus at Cosmos changing from narrow vein mining, to bulk mining methods in a more geotechnically complex terrain, the use of the 3D images has become paramount in understanding the structural geometry. Continual interpretation of the data has enabled drive profiles to be maintained through the increased use of ground support in poor ground and the redesign of development to enable optimal intersection of structures. Nevertheless, while the collection of quality data is important, it is only the effective use of the data, which enables significant gains in understanding.CITATION:Rees, K, 2012. The benefits of using photogrammetry in the geological interpretation of the Cosmos nickel mine, in Proceedings Narrow Vein Mining 2012 , pp 145-148 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Mar 26, 2012

By D Henderson, M Germain

The beneficiation of iron ore deposits to yield haematite and magnetite concentrates for steel making processes typically require the use of one or a combination of wet processing techniques based on gravity, magnetic or froth flotation processes. With the need for more cost-effective technologies with a lower water demand, a re-examination of dry processing techniques has been initiated. For example, a dry processing capability may offer an advantage where suitable quality and quantity of process water hinders the development of a particular resource. This paper describes recent laboratory test work for the production of high grade concentrates using dry electrostatic techniques for -300 ¦m haematite and magnetite ores and compares them with magnetic separation techniques.

Jan 1, 2009

By J Rock, K Bambrook

"Hanwha Mining Services was approached by Glencore Coal to provide a series of (trial) demonstration blasts at its Clermont coalmine. The intent of the project was to trial a bulk explosive product that would be able to provide sufficient energy for the ground type encountered without production of post-blast fume. Three blasts were loaded using the patented XLOAD bulk explosives with a density of 1.00 g/cc. XLOAD bulk products are water resistant explosives that can be loaded at densities much lower than traditional (generic) water resistant heavy ammonium nitrate – fuel oil (ANFO) or pumped blends with significantly reduced risk of fume. In addition, these products have detonation characteristics that generally deliver a higher heave partition than conventional bulk products and hence improve muck pile looseness and digability.The priority key performance measures included the absence of fume from blasting, being at least cost neutral and providing similar if not improved shovel dig rates. The design for the initial blast took a conservative approach to ensure the key blast outcomes of fume control and fragmentation were achieved.The second blast used the same pattern dimensions as the benchmark bulk product used in this area to provide a cost neutral comparison with the benchmark products that had been used over the prior six months. This resulted in a 20 per cent lower powder factor than would have otherwise been used. To test the suitability of XLOAD, this shot was slept for over two weeks between loading and firing in geology where the sleep time is typically kept to a few days to minimise the fume risk.The third blast utilised a slightly larger drill pattern to push the capabilities of XLOAD and provide a cost neutral comparison between the trial product and the traditional benchmark products. All three blasts were fired with no fume observed, no recordable incidents and good fragmentation. Shovel productivity from all three of the trial blasts was excellent with higher average instantaneous dig rates being recorded (average six per cent improvement against the instantaneous dig rates recorded for the benchmark blasts).Citation:Rock, J and Bambrook, K, 2016. Controlling Blast Related Fumes with Unconventional Explosives, in Proceedings Ninth AusIMM Open Pit Operators' Conference 2016, pp 39–49 (The Australasian Institute of Mining and Metallurgy: Melbourne)."

Nov 15, 2016

By G Harbort

Traditional engineering design for flotation circuits use the “Rule of Thumb” approach. Typically this uses a nominated maximum head grade for design. A scale-up factor is applied to laboratory flotation tests for residence time. This scale-up factor is usually based on a designers experience at other flotation sites and may or may not be relevant to the circuit being designed, or the flotation equipment being used. A small number of locked cycle tests are assumed to represent the ore body and the results of these are often used for financial analysis, independent of changes in mine plan throughput and mineralogy.The engineering “Rule of Thumb” approach is only strictly accurate where there is very little variability in throughput, head grade and mineralogy. It may provide accurate design for mature established operations where a brownfield expansion is being considered but is unlikely to provide accurate design for a new, greenfield site.The use of geometallurgical modeling with floatability component simulation provides a design methodology with significantly less associated risk. The use of geological data for optimisation of operating plants has become a significant part of the modern process mindset. The underlying principle is to use spatial metallurgical information to drive production planning, mine planning, blast design, blending strategies and plant set-up. At a design stage the process designer can use geometallurgical information to evaluate bottle necks and potential design flaws and propose the best investment strategy for the project benefit.This paper details the geometallurgical characterisation of the Andash deposit and methodology used to review the project’s detail design and projected production.

Aug 8, 2011

The segment of the Upper Cenozoic volcanic chain (CVZ) located on the western border of South America (16-28¦S lat.) is constituted by an association of strato- volcanoes and ignimbrite sheets, with high K calco-alkaline affinities. Strata-bound volcanoes, mainly of andesitic and dacitic composition, present along the whole chain, and various hydrothermal alteration zones, on the slopes and in the cores of eroded volcanic structures. Some of these altera- tion zones bear epithermal precious metal ores and sulphur deposits, which at present are being exploited. The studied Salar de Gorbea area, located in the Andes of northern Chile (25-26¦S lat.) contains a numer- ous group of Miocene to Quaternary stratovolcanoes, with advanced argillic and extreme silicification hydrothermal alteration in their cores and on their slopes, favoring the formation of great volumes of alunite within altered zones and sulphur deposits in the higher parts of the volcanic edifices. Simultaneously, siliceous hydrothermal breccia of the phreato-magmatic type, with evidences of hydromag- matic explosions are recognizable, allowing, in some cases, the ascent towards the surface of rock fragments belonging to the Paleozoic pre volcanic basement. Radiometric ages obtained in some of the hydro- thermal alteration zones (K-Ar in alunite) are slighty young- er than the unaltered rocks which constitute the strato- volcano. Trace element (Hg, As, Sb, S, Au, Ag, Cu, Pb, Zn, Mo) patterns in orientative rock samplings show that the studied alterations zones correspond to high sectors of the cpithermal system, without evidences of metallic minerali- zation on surface. The weak erosive action due to the ex- tremely and climatic conditions in this segment of the Andes, has not allowed the cropping out of deeper areas of the hydrothermal alteration zones, in contrast to other Miocene more eroded volcanic edifices and Miocene vol- canic terranes of the Andean Range.

Jan 1, 1987

By M Costa, L Polizzi

Process optimisation and continuous improvement are usually acknowledged when making a process more effective, efficient and transparent. During the last few decades, thousands of companies around the world have used total quality concepts in order to establish a continuous improvement process in their companies. Typically these companies apply some kind of Kaizen-type tools and expect results in the short term; however, the great majority of companies are poorly implementing these continuous improvement programs.Usually the most common reasons for failure of the program are lack of commitment from leaders, lack of discipline and engagement from the team to follow process and lack of clear targets for the program. When the results do not come at the expected timeline, it is common to simply drop the current process and apply a different approach from another company or consulting firm.This paper will explore some successful cases of companies that have invested time and effort to establish a reliable and sustainable process of continuous improvement. The focus will be case studies of mines and smelters around the world that use the plan–do–check–act (PDCA) cycle to increase productivity with the best services and lowest costs. The main tools and processes used by these companies will be discussed, as well as results achieved.CITATION:Costa, M and Polizzi, L, 2014. Introducing and sustaining a continuous improvement program in mines and smelters, in Proceedings 12th AusIMM Mill Operators’ Conference 2014 , pp 55–62 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Sep 1, 2014

By Carter NB

A statistically-designed experimental program has been used to study compositional and processing variables which influence the development of strength and reducibility of iron ore pellets. The effects of chemical composition and processing variables were investigated by indurating laboratory-made green pellets, of known composition, under approximately isothermal conditions in a pot- grate simulator. Some findings from a six- variable study are summarized in the form of contour diagrams and emphasize the importance of interactions between the variables. Production of strong, highly reducible pellets is possible over a considerable range of combinations of temperature and firing time. Abrasion index (AI) and cold compression strength (CCS) improve as both these variables increase, but reducibility (R) declines, so a compromise is required. When the lime level is too low to form enough slag for bonding, the AI and CCS may be inadequate. Larger additions of lime tend to improve AI and CCS, with only slight effects on R. Finer grinding of the balling feed (i.e. higher Blaine index) tends to improve Al and CCS without

Jan 1, 1980

By F Musa

One of the main energy efficiency opportunities identified from the majority of mine site energy audits is to optimize the comminution circuit to reduce energy consumption through improved throughput and product size distribution. Typical analysis reviews comminution process efficiency/inefficiency i.e. utilization of grinding mills, process bottlenecks and product vs. target size, to identify instances of overgrinding or undergrinding. From this, it is possible to establish the potential improvement that could be gained through formal plant optimization and what the optimization program would entail. It can also sometimes reveal immediate opportunities for process improvement. This paper presents steps that can be taken to optimize the efficiency of comminution circuits.

Aug 8, 2011

By Jepsen L, Gifford M, Thomas G. S

Mine planning requires careful prediction of both the head grade and tonnage of mineralisation. As part of the planning process, operators of the Murrin Murrin nickel/cobalt orebodies (located in the Eastern Goldfields province of the Yilgarn

Jan 1, 1998

By L N. Loganathan

Risk exposure in tunnel projects is extremely high due to various factors such as variability of subsurface conditions, selection of inappropriate design and tunnelling methods, improper risk assessment on adjacent surface and subsurface structures and utilities, and inadequate contractual practices. The risks in tunnelling must be borne by the contractor, designer and the owner of a tunnelling project. There have been a number of improvements in the last ten to 15 years in the manner in which tunnel projects are developed and implemented in terms of their design, construction, financing and operations. One significant improvement has been the manner in which underground conditions and their risks are being managed. Owners are less willing to transfer the full responsibility to the contractor for managing the underground conditions, although this is a familiar manner in which underground major urban projects have been previously contracted and managed. The owners of tunnel projects in Singapore have advanced the risk management process for their projects through geotechnical interpretative baseline reports (GIBRs), geotechnical data reports (GDRs) and project specifications (PSs). This paper discusses industry practice and its development as well as the application during the preparation and use in Singapore on the Deep Tunnel Sewerage System (DTSS) and the Marina Coastal Expressway (MCE) project in Singapore. The DTSS trunk sewer is 48 km and ranges from 3.3 m to 6 m finished diameter up to 50 m below the ground. The underground conditions ranged from Old Alluvium, strengths of about 1 MPa to competent Bukit Tima granite, with strengths of over 230 MPa. The total route length of the MCE is about 5 km. About 3.6 km will be constructed underground, consisting of dual five-lane carriageways. The underground construction will be cut-and-cover, and 2.6 km will be constructed about 13 m underground, and 1 km of tunnel will range from 13 m to 24 m as the tunnel passes under a 420 m wide reach of Marina Bay, whose crossing will be constructed as a two-phase cofferdam.

Jan 1, 2008

By Abbott T. M

Alcoa of Australia operates three Alumina refineries in the South West of Western Australia at Kwinana adjacent to the South suburbs of Perth and at Pinjarra and Wagerup in rural settings 100 and 150 kilometres south of Perth respectively (see Figure 1). Alcoa's total alumina production is currently around five million tonnes per annum and this will increase to 5.5 million tonnes by early 1990. Further expansion of production is likely if current world aluminium demand trends continue. Alcoa's refineries utilise bauxite mined in the nearby Darling Range which is low grade by world standards having around 32 % by weight extractable alumina (by comparison Weipa bauxite yields around 55% alumina). This means that for every tonne of alumina produced two tonnes of solid wastes remain and therefore while we in Western Australia can boast of hosting the largest alumina industry in the world with around 18% of total world production we suffer from having the lion's share or 40% of the world's bauxite residues to dispose of. In its Western Australian setting the management of these residues in a manner which is acceptable to the community creates many challenges. These are primarily due to the mass and volume of waste produced, its chemical and physical characteristics and the environmental features of the local area including close proximity of neighbours, competing land uses and the presence of natural resources such as surface water and groundwater. In addition the trend towards more stringent statutory environmental controls and greater political and community awareness of environmental issues means that we must be able to demonstrate improvements that will reduce the considerable adverse impacts of past practices. Of course we must also try to keep the overall cost of residue disposal as low as possible to maintain our competitiveness with refineries which may have much smaller volumes of waste to dispose of and less environmental constraints.

Jan 1, 1989

By Bhaskara Sarma P V R

Solvent extraction of cobalt from an ammoniacal ammonium sulphate medium was carried out using Di(2-Ethyl Hexyl) phosphoric acid in kerosene as diluent. The effect of ammonium chloride and ammonium sulphate on the extraction efficiency was studied. The extracted species in the ammonium chloride and sulphate systems were CoAz2HA.NH4CI and CoA3.HA.2(NH4)2SO4, respectively. Ammonia scrubbing and cobalt stripping studies were carried out from loaded and ammonia free organic Respectively.

Jan 1, 1992

By D Q. Zhu

In this paper, the pretreatment of concentrates by roller press was present to improve the granulation of blends comprising some 30 per cent iron ore concentrates and enhance the sintering performance. It is shown that by pretreatment of fine concentrates through roller press, the content of +3 mm fractions of granulation mixture and sinter mixture permeability are elevated by ten per cent and 35 per cent. In the meantime, a sinter productivity increase from 1.51 - 1.62 t.m-2.h-1 is attainted in pot tests with similar sinter tumble index and at lower coke rate. The mechanism of the pretreatment of concentrates process to improve sintering performance of fine iron ore concentrates was demonstrated by mineralogy that better permeability help form more calcium ferrite and good microstructure of sinter, further proven by the better metallurgical performance of sinter.

Jul 11, 2011

By F Tang, Ö K. Büyükuslu, M Baben, S Petersen

GTT-Technologies’ ChemApp for Python was developed to provide a powerful, easy to use interface to ChemApp for a programming language highly popular with scientists and engineers. It is used, for instance, by GTT to develop program modules such as the CALPHAD Optimiser for the FactSage™ software, by customers to move from interactive FactSage calculations to perform versatile scripting with Python, and by GTT and its partners in research projects in the area of materials informatics. Computational thermochemistry is fundamental for advancing sustainable metallurgy and creating new alloy compositions for engineering applications. Materials informatics involves handling vast amounts of data and complex workflows. GTT’s approach uses ChemApp for Python and the FactSage thermodynamic databases to design recyclable alloys from the start, incorporating a higher percentage of scraps while aiming to simplify the workflows to simulate material design steps. Challenges arise due to recycling scraps, introducing more elements for consideration. CALPHAD-based databases accurately cover materials from primary metallurgy, but additional data for minority and critical elements is crucial for precise computational modelling. GTT combines machine learning-based ab-initio databases with traditional CALPHAD databases to cover the complete chemical space with appropriate accuracy. The design of a hardfacing alloy through a high-throughput materials informatics approach is used as a demonstrator of the current possibilities.

Jun 19, 2024

By A Chadwick, J de Ross, C Adams

Imagine a æshinyÆ new mine, $1 B in the bank and record commodity prices. So how does a company and its management team create enough tension to maximise profit and to establish a culture that can weather the good and bad times?That was exactly the situation the team at OZ MineralsÆ world class Prominent Hill mine in South Australia faced in 2009.Three years later, the harder times have come - lower though still healthy commodity prices, rising industry costs, fierce competition for talent, geological and technical issues (common to developing mines). However, the company was able to maximise profit during the good times and equip the culture to deal with the tougher times with minimal turnover.Through the combination of simple systems and processes, people development, application of commercial technical acumen and a combination of yin and yang leadership, OZ Minerals has achieved something quite rare - sustainable continuous improvement.The journey started with a vision. The EGM Operations created the æsparkÆ. The dream was to create a æfranchise mineÆ that could be rolled out to new mines and acquisitions as the company grew. However, the real leadership came from his lieutenants who provided the important yin and yang. The GM commercial provided the tools, processes, systems and the bottom line focus. The GM operations focused on culture, leadership, training and sustainability. This powerful combination (along with some good old persistence) was able to create the critical mass required to make continuous improvement go æviralÆ.This paper explores this unique case to uncover the essential ingredients that were created and mixed together. It will touch on the key human, technical and system elements that helped achieve significant improvements in plant recoveries, mine throughput and operational efficiencies, while overcoming human capacity, geotechnical and contractual challenges.CITATION:de Ross, J, Chadwick, A and Adams, C, 2012. How to create a perfect storm, in Proceedings International Mine Management 2012, pp 239-250 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Nov 20, 2012

By M Camarda, A Pirson, F Vasconcelos, J Mesquita

ArcelorMittal Prijedor is a goethitic iron ore mine located in the north-west of Bosnia and Herzegovina, which mainly supplies ArcelorMittal’s European subsidiaries. Annual production of the asset stands at the level of 1.5–2.1 million tons of iron ore product which is sent to ArcelorMittal Zenica steelmaking plant. Two types of products with approximately 50 per cent Fe are generated in Prijedor through a process composed by crushing, screening, and magnetic separation stages. Within this process one of the tailings produced is called ‘ultrafines’. The ‘ultrafines’ product corresponds to the desliming hydrocyclones overflow in Prijedor plant, which is classified in a size fraction below 25 μm and corresponds to about 5 per cent of feed. This material is richer in iron than the coarser size fractions of the ore but do not present a good performance in concentration processes. In this way, several studies have been carried out during the last years to find solutions to use the ‘ultrafines’ material without success. In this context, the possibility of dehydroxylate the goethite contained in the material transforming the mineral into hematite and thus increasing the iron grade of the final product was investigated. During the research, several dehydroxylation tests with different temperatures and time of exposure were performed. Using dihydroxylation process at temperatures higher than 800°C it was possible to produce a material with 43 per cent Fe from the original 39 per cent Fe ‘ultrafines’ sample. In addition, the dehydroxylation tests confirmed that goethite becomes completely transformed into hematite at 400°C (with an exposure time of 60 mins) and material is completely sintered at 1200°C. A simulation study based on dehydroxylation tests results showed that it would be possible to use a ‘ultrafines’ product with Fe grade higher than 45 per cent to produce a material with 50 per cent Fe through a complete dehydroxylation process.

Sep 18, 2023

By M Ranjan, C R. Borra, P Palai, P P. Sahoo

Change in mould slag composition during casting of medium alloy steel is caused by the redox reaction between molten steel and mould flux. Mould flux generally contains a certain amount of SiO2, but elements such as Al, Mn and Ti in high/medium alloy steels reduce SiO2 in the mould flux, causing remarkable changes in the composition of the mould slag. As a result, the properties of the mould slag change greatly as continuous casting proceeds. This causes casting instability, process abnormality and casting defects. Effect of Ti as an alloying element in steel on mould slag is studied extensively through high temperature laboratory measurements and plant measurements. TiO2 gets picked up by the mould slag up to 3 per cent during casting a steel grade containing 0.1 per cent Ti. This changes the mould slag composition and results in decreasing the slag viscosity by up to 10 per cent and decreases slag break temperature by 30–40°C.

Aug 21, 2024

By M Berry

Consider these four questions:What is the definition of life-of-mine?When should life-of-mine planning seriously commence?When can life-of-mine planning seriously commence?What is the key input to effective life-of-mine planning?Whilst there is likely to be general consensus on the answers to the first three questions, the answer to the fourth question is open to debate. This author argues that understanding and managing risks and opportunities associated with geological uncertainty is the key input to effective life-of-mine planning, at all stages in the life cycle of a mining project.CITATION:Berry, M, ?2014. Effective life-of-mine planning by understanding and managing risks and opportunities associated with geological uncertainty, in Proceedings Life-of-Mine 2014 , pp 183–190 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Jul 16, 2014