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Banks' focus in using cash flow methods can differ markedly from that of equity investors. This paper attempts to explain and describe bankers' approach by: ò outlining the fundamental difference between banks' and investors' risk / return profiles. ò describing lenders' consequent use of cash flow methods in mineral valuation. areas. explaining lenders' specific treatment of key risk Fundamental to understanding banks' appraisal of mineral projects is the appreciation that lenders have a basically different risk profile and outlook from those familiar to equity investors. Lenders do not normally participate in any project upside. The economics of lending dictate that banks can only accommodate a low probability of loan default and consequently banks' principal focus in mineral ""valuation"" is ensuring an acceptably comfortable probability of debt repayment. A simple conceptual explanation of lenders' risk / return position is outlined.

Jan 1, 1994

By G Brewster

The Eagle on the Hill tunnels form part of an upgrade of Mt Barker Road, 15 km to the southeast of Adelaide. The upgrade significantly improves safety and reduces delays on this major road, which winds steeply through mountainous terrain. The twin tunnels each spanning 15 metres run in parallel for a length of 480 metres. The tunnels are excavated in slightly weathered high strength slates and very high strength quartzites of the Saddleworth Formation on the western margin of the Mount Lofty Ranges. Steeply dipping slate cleavages and the high fracture ratio result in many slope stability problems in the project area. The level of geotechnical investigation undertaken prior to the calling of tenders for the project was extensive. This included the excavation of a pilot tunnel along one of the tunnel alignments, which allowed accurate mapping and rating of the rock, resulting in an increased level of confidence during the tender process. One of the features of the winning alternative tender design was the use of canopy tubes, flexible steel ribs and shotcrete to replace up to 40 metres of deep portal cuts in unstable rock with driven tunnels. Slope stability issues were overcome with the use of rock dowels and shotcrete. The support concept allowed the safe driving of the tunnel portals with as little as two metres of overburden. The design incorporated lining drainage and criteria for fireproofing based on European experience to ensure the ability of the tunnels to remain stable in the case of a severe fire incident. The support design allowed for maximum flexibility with a range of support types able to deal with the varying ground conditions. Design development and support refinement continued throughout the tunnel construction phase with close liaison between the designer and the constructor. Monitoring and review of feedback from the construction site by the Sydney based design team was easily achieved by means of electronic transfer of photographic and survey information, telephone and fax communication and regular site visits. The contractor for this project is Macmahon Concrete Constructions Joint Venture (MCCJV) and the designer is Connell Wagner. Excavation commenced in January 1998 with tunnel breakthrough having been achieved in early-August 1998 and mid-September 1998 respectively. Concrete lining construction is scheduled for completion in April 1999.

Jan 1, 1999

By N Maistry, C Carelse, A Singh

Banded Iron Formations or more commonly known as BIF are sedimentary rock formations with alternating silica-rich layers and iron-rich layers that are mainly composed of iron oxides (hematite and magnetite), iron-rich carbonates, and/or iron-rich silicates. Considering the depletion of highgrade iron ore reserves in South Africa, there is a need to maximise resource utilisation through the exploitation of low-grade/uneconomic resources particularly BIF material, which makes up more than 65 per cent of current reserves. Previous test work conducted by alternative BIF sources globally indicates the need for fines processing in order to produce a concentrate. South African BIF however is amenable to coarse and fines processing producing an on-grade product or blended feedstock. C-Type material within South Africa’s Northern Cape Province grading at approximately 33 per cent Fe was supplied for research purposes. Top size optimisation via gravity Heavy Liquid Separation (HLS) tests was conducted. The laboratory results being perfect separation (Ep=0) were modelled to predict pilot performance, the results of which were tested on a pilot scale for the finest size fraction (-1 mm). It was observed that a top size of -2 mm provided optimum results in terms of upgrade and recovery, with crushing finer not necessarily producing superior results. At a target grade of 60 per cent Fe, recoveries of 65.6 per cent were achieved on the laboratory scale, whilst recoveries of approximately 58 per cent were achieved on the pilot scale. Targeting higher upgrades of 63 per cent would inevitably result in lower recoveries of 57.2 per cent on a laboratory scale and approximately 54 per cent on a pilot scale. This is in line with grades and recoveries achieved globally for BIF material albeit at finer grind sizes.

Sep 18, 2023

From August 1962 to June 1976 Peko Mines Ltd. produced Gold Bullion at the Peko Control Mill using 18x24 Denver Mineral Jigs and strake tables. Gold ores treated during this period were obtained from Orlando, Juno and Ivanhoe Mines and from the Warrego Mine after 1974, all in the Tennant Creek Area of the Northern Territory. With the downturn in copper prices Warrego Copper ore mining ceased and the copper Smelter closed down in February 1974, Warrego gold ore continued to be treated in the Peko Concentrator.

Jan 1, 1978

By B Prasad, M P. Roy, P K. Singh, C Drebenstedt

Blasting operations play a pivotal role in the overall economics of opencast mines. The blasting subsystem affects all the other associated subsystems, ie loading, transport, crushing and milling operations. Fragmentation control through effective blast design and its effect on productivity is a challenging job for the practicing blasting engineer due to inadequate knowledge of actual explosive energy released in the borehole, effect of varying initiation practice in blast design and its effect on explosive energy release characteristic. This paper describes the result of a systematic study on the impact of blast design parameters on rock fragmentation at two mines in India. Both the mines use draglines and shovel-dumper combination for removal of overburden. Despite its pivotal role in controlling the overall economics of a mining operation, the expected blasting performance is often judged almost exclusively on the basis of poorly defined parameters such as powder factor and is often qualitative, which results in a very subjective assessment of blasting performance. Such an approach is a very poor substitute for accurate assessment of explosive and blasting performance. Forty-seven blasts were conducted with varying blast designs and charging patterns and their impact on the rock fragmentation are documented. A high-speed camera was deployed to record the detonation sequences of the blasts. The efficiency of the loading machines was also correlated with the mean fragment size obtained from the fragmentation analyses.CITATION:Singh, P K, Roy, M P, Drebenstedt, C and Prasad, B, 2015. Blast design parameters and their impact on rock fragmentation, in Proceedings 11th International Symposium on Rock Fragmentation by Blasting, pp 755–762 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Aug 24, 2015

By Sparrow G. J

In a recently completed AMIRA project, 20 samples were searched for gold mineralisation using the automated location facility (ALF) for rare phases on a scanning electron microscope in the CSIRO Division of Mineral Products, Melbourne. The samples were submitted by mining companies in Australia, and Papua New Guinea, and included crushed ore samples, cyclone overflow and underflow products, a flotation concentrate, and 12 tailing samples. Their gold contents ranged from 600 to 0.2 g/t An. Native gold and gold minerals including a gold telluride, gold-silver tellurides, and a gold bismuth mineral, were located in the samples as free grains and associated with other minerals such as pyrite, magnetite, hematite, ankerite, copper sulphides, silicate minerals, and quartz. In the highest grade samples, both micron sized and 200 ¦m grains of gold were found with ALF. It would be difficult to locate such d wide size range of gold in a manual search. Gold mineralisation was located in the tailing samples assaying 0.4 g/t An and higher. In several tailing samples coarse grains of native gold over 40 p.m in size were located. One grain was estimated to have contributed 40 per cent of the gold in the sample. As well as locating gold mineralisation, the ALF examination resulted in the identification of uranium, mercury, and bismuth minerals in the samples. Knowledge of the distribution of these minerals in processing streams could be important in the operation of a concentrator.

Jan 1, 1992

In most mining operations the ore undergoes several processes such as drilling, blasting, loading, hauling, crushing, grinding and liberation to become the final salable product. Drilling and blasting is an important step in this process chain and itÆs results such as fragmentation, muckpile shape and looseness, dilution, damage and rock softening effect the efficiency of downstream processes. The value created per ton of broken ore is the difference between the price it commands when sold as the final product and the cost to produce it. Traditionally, the total process in the mining industry is classified into two groups as mining and milling. These are managed as separate cost centres inspite of the interdependency. Each process has a budget and production target and emphasis is usually on maximising production (tons) and minimising cost rather than the overall profitability of the whole business unit. The efficiency of each process is considered to be satisfactory as long as they are within budget and meet the production targets. The mine and mill managers usually try to optimise each process independently rather than the entire process. This paper discusses the potential pitfalls of decreasing the drilling and blasting cost per ton of broken rock without considering its impact on downstream processes. It introduces a holistic approach to blast optimisation by identifying and measuring the leverage that blast results have on different downstream processes and then optimising the blast design to achieve the results that maximise the overall profitability rather than just minimising the drilling and blasting costs. This paper demonstrates the benefits of such a holistic approach to blasting based on computer model simulations and field studies from metal and open cut coal mining.

Jan 1, 2001

By Martin T

High methane content of the medium volatile metallurgical coal mined from the Coal Basin mines causes very difficult mining conditions. Rapid desorption into the mine ventilation system limits coal production, requires huge fresh air quantities and creates mine safety problems. In workings deeper than 2000 ft (600m) gassy coal and heavy cover create outbursting conditions. Cross-measure methane drainage has reduced ventilation requirements on advancing faces, but degasifica- tion of virgin coal is needed to improve mining Conditions.

Jan 1, 1982

By D Sibthorpe

The employment of a tunnel boring machine (TBM) is the default delivery method for the realisation of traffic, utility and primary resource underground space worldwide, with hundreds of kilometres completed safely each year. This is not yet the case for the mining sector in Australia, specifically underground coal mining. The safety advantages of TBM delivery when compared to New Austrian Tunnelling Method (NATM) delivery, or that of drill and blast, remains unrealised.With coal access drifts ranging between 1000?m and 3000?m in length, the construction of these facilities using TBMs could be done in a fraction of the time when compared to current practice. TBM world records currently stand at 435?m/week or 1600?m/month for the 7.0?m to 10.0?m range. Resource owners and developers should embrace the opportunity to deliver access to their orebodies in only a few months, excluding machine assembly and disassembly time.There are challenges in utilising TBMs for construction of Coal access drifts, such as; TBMs generally being bespoke design, maximising capital efficiency for drift development, and geotechnical variances between projects. This paper explores safer and more cost-effective options. This paper also provides detail of how the configuration within a completed drift could be optimised to ensure all site specific needs are met with regard to future use of the drift. The paper also includes descriptions of the engineering solutions that are available for physical and atmospheric challenges specific to coal drift applications and how the TBM manufactures are adapting to the regulatory requirements are also covered.Due to downward pressure on high cost bases and ever increasing safety requirements the popularity of TBMs in the Australian mining sector can be expected to increase and eventually become the default delivery method for coal drift construction, building them cheaper, faster and?safer.CITATION:Sibthorpe, D, 2014. Coal drift construction by tunnel boring machine, in Proceedings 15th Australasian Tunnelling Conference 2014 , pp 671–682 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Sep 17, 2014

By H A. Linn, K Winn, C W. Lee

The Q-slope method for rock slope engineering was developed to enable engineering geologists and rock engineers to rapidly assess the stability of excavated rock slopes in the field and make optimal adjustments to slope angles as rock mass conditions become apparent during construction of road cuts or benches. An empirical relationship between Q-slope and long-term stable slope angle is now supported through over 500 cases studies from Asia, Australia, the Americas and Europe. This paper presents about the stability analysis by first-ever applying Q-slope method on abandoned quarry wall in Singapore. The 30 m high rock slope which is composed of monzogranite rock was severely damaged by blasting operation. As the rock slope is intended for public view the objective was to retain the natural outlook and without any artificial support application thus manual scaling was carried out to clear the loosed rock blocks. In the end stable slope angle of clean rock face is determined once again by Q-slope method.

Nov 29, 2022

By J Col, D La Rosa, W Valery, A Jankovic

Metso Minerals Process Technology Asia-Pacific and South America (MMPT) has been working with operations around the world to increase their efficiency through æMine-to-MillÆ or Process Integration and Optimisation (PIO) projects. These projects have delivered significant improvements in mine efficiency, mill throughput and reduced operating costs at mines around the world. The MMPT methodology involves rock characterisation, site auditing, data collection, modelling/simulation and implementation of integrated operating and control strategies on site. This results in significant benefits to the operations û for example, 5 to 20 per cent increases in concentrator throughput have been measured. MMPTÆs rock characterisation utilises simple and inexpensive measurements that can be performed by trained site personnel. The advantage of these measurements is that a large amount of data can be collected in a very short timeframe, as the samples do not require shipping to an outside laboratory. Typically, a PIO project starts with a site visit to perform blasting and process audits, collect high quality data including measurements of run-of-mine fragmentation and survey data around all crushing and grinding circuits. These measurements are combined with rock characterisation and the definition of strength and structure domains to model the complete production chain. Site-specific models of the blast fragmentation, crushing, grinding and flotation processes can then be developed. This proven methodology has applications ranging from greenfield projects to long-standing operations with AG/SAG or conventional grinding circuits. Process improvements can be higher mining productivity, higher mill throughput, decreased overall operating costs and higher flotation or leach recovery. This paper discusses a recent application of PIO conducted at a large open pit operation in South America and emphasises the potential that every operation has to ædo more with what they haveÆ.

Jan 1, 2007

By D Gericke, R Cooke

This paper presents an assessment of the status in design and operation of deep level backfill distribution systems by referring to case studies and practical experience. The improvements in design and operation of the systems can largely be attributed to an improved understanding of slurry flow behaviour and a corresponding integrated design approach that includes slurry flow modelling, system design and application of the latest technology. The conclusions summarise the lessons learnt from such case studies and stresses the importance of design reviews and audits of existing systems as a means to ensure that the mistakes of the past are not repeated in the future.

Jan 1, 1998

By D Craw, P V. Angus

Gold mineralisation at Macraes occurs as late quartz-carbonate veins within a body of sheared and hydrothermally altered Otago Schist, the Intrashear Schist. The alteration is characterised by the presence of rutile and the absence of epidote and titanite, indicative of an alteration fluid containing >10 mol per cent CO2. In areas of high strain, a fabric of black microshears develops, gradational to mylonitic cataclasite in the high strain zone adjacent to the hanging wall of the duplex shear zone. The microshears contain hydrothermal graphite, inferred to have been deposited from a methane-rich fluid. The mylonitic cataclasite is characterised by abundant pyrite, the absence of albite and extreme grain size reduction. Gold recovery in the CIL processing plant at Macraes can drop to 50 per cent or lower for some unfavourable ore types. Preg-robbing by a component in the ore, possibly graphite, was suspected as the cause. Mylonitic cataclasite was identified as the lithology responsible for the poor recoveries, with the capacity to bind about 30 ppm of gold in the leach tanks. A program of detailed geochemistry and quantitative grain-size measurement using Coulter analysis was undertaken to identify specific mineralogical factors associated with preg-robbing. The results indicate that pyrite, graphite, and extreme grain-size reduction are the factors associated with highly preg-robbing ores at Macraes. The evolution of the mylonitic cataclasite is accompanied by strong potassium enrichment, as muscovite, and depletion in sodium as albite is removed. This suggests that a simple powder XRD ratio of the albite to illite peaks would suffice to distinguish the preg-robbing ore for grade-control purposes.

Jan 1, 1999

By Kohra A, Shoji S

The amount of copper production by flash smelting process occupies about 17% (equivalent to 1.4 million t/year) of total free world production. In Japan, 650,000 tons of copper is produced annually by flash smelting. This is 65% of the gross copper production of Japan. To reinforce pollution control, promote energy saving, and enhance production efficiency by increasing the size of furnaces, conventional blast furnaces and reverberatory furnaces are being replaced with the flash smelters worldwide. The Ashio Smelter started copper production in 1884 and developed in association with the Ashio mine. In those days, the Ashio smelter produced copper by using the blast furnace process designed for the high-grade ore from the copper mine. At that time, this process was specialized in Japan. In 1956, for the first time in Japan, the Ashio Smelter introduced the flash smelting process developed by Outokumpu Oy of Finland (it is suitable for treating the copper concentrate, producing sulfuric acid and improving production efficiency). The flash furnace in Ashio, the first ever in Japan, had a capacity of 230 t/day for copper concentrate and was operated up to 1962. During this period, various operational troubles were solved, and further improvements were made; and, in 1962, a Furukawa-type flash smelting furnace was completed in Ashio. This improved version of a flash furnace had a capacity of 450 t/day. There was one flash furnace and one waste heat boiler, which were arranged in a unique pattern for that time. This furnace may be said to be the prototype of the present flash smelting process in the world.

Jan 1, 1987

By E Wargem

The conventional method of underground mining involves a process known as drilling and blasting to excavate valuable ore bearing minerals through the load and haul process. Drilling and blasting processes are completed for both the development of the tunnels used to access the orebody and for mining out the orebody itself. The former being called development drilling and blasting, and the latter production drilling and blasting. In either development or production drilling and blasting, the effective recovery will be largely reliant on the extraction of the initial void created in each blast cycle. In development tunnelling, the initial void is commonly known as a Burn Cut. The initial void created in production drilling and blasting has many names such as a Slot, Winze, Rise or Raise. There are drill patterns and charge designs used to create these initial voids in the production cycle. This paper discusses common slot or winze designs for production drilling and blasting; and various critical design criteria for these. The document also aims to provide a process for completing desktop reviews of current patterns employed on-sites and provides an initial guide in a process for improving the recovery of a slot, winze, rise or raise in underground mines.

Mar 29, 2023

By M Dean, M Nehring, P Knights, M S. Kizil

Integrated continuous mining techniques such as fully mobile in-pit crusher and conveyor (FMIPCC) systems offer inherent labour, energy and environmental benefits to deep pit metalliferous mines. However, before such systems become commonplace, a number of barriers must be overcome.This paper outlines a number of commonly perceived barriers to FMIPCC application, together with a number of suggested solutions. The paper advances a design approach for specifying FMIPCC systems for deep pit metalliferous applications. A novel FMIPCC configuration is advanced using a hydraulic excavator in backhoe configuration. Because of the requirement to minimise belt extensions, a mine planning approach is presented based on a series of parallel and radial belt conveyor moves.The FMIPCC system does not fully replace truck-shovel systems. In the proposed mine plan, sinking is undertaken with truck-shovel systems using a series of box cuts, whereas pit ‘widening’ activities are accomplished via the FMIPCC system. Because of inherent differences in mine sequencing, the net present value derived from the FMIPCC mine will differ markedly from that derived from traditional, nested-pit, truck-shovel mining approaches. Therefore, any comparison of the FMIPCC and truck-shovel approaches must take into account radically different mine planning approaches.CITATION:Dean, M, Knights, P, Kizil, M S and Nehring, M, 2015. Selection and planning of fully mobile in-pit crusher and conveyor systems for deep open pit metalliferous applications, in Proceedings Third International Future Mining Conference, pp 219–226 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Nov 4, 2015

By K Vallo, T Haimi, J Pihlasalo, J Hamuyuni, M Lindgren, F Tesfaye

Decarbonisation of the steel industry has recently attracted a lot of research and technological development. Most of the technological developments are centred around the replacement of blast furnace (BF), which has been the main primary smelting furnace in the ironmaking step of steel production. Replacement of the BF is not an easy task because of BF’s many established capabilities over the years, especially its ability to use low-grade iron feed. In this regard, Metso has developed its own technology, Metso’s Outotec direct reduced iron (DRI) smelting furnace, to tackle this problem. The recently developed six-in line electric furnace for DRI smelting can be used for primary smelting of DRI from blast furnace grade iron ore. Unlike the electric arc furnace (EAF), the DRI smelting furnace can handle larger slag volumes that emanate from the high gangue in BF grade DRI. Therefore, fluxing plays an important role in operating the DRI smelting furnace. This paper presents fluxing options and proposes slag quality and operating windows for the DRI smelting furnace. Also, the effect of slag on refractory durability will be discussed.

Jun 19, 2024

By G B. Douglas

Lime-based neutralisation has long been the remediation treatment of choice for acidic mine pit waters. While suited to the attenuation of acidity, lime-based neutralisation may be difficult to implement efficiently due to variation in quality and the partial loss of neutralisation efficiency due to armouring. Large volumes of gypsum-bearing sludge may also require mechanical dewatering and transfer to final voids prior to resumption of in-pit mining or closure. Thus, operational costs may be substantially higher than primary neutralisation alone. Lime production also results in large greenhouse gas (CO2) emissions.Hydrotalcites (HT) are a class of Mg-Al layered double hydroxide minerals with the composition Mg6Al2(CO3 )(OH)16.4H2O. A range of other divalent and trivalent cations may also readily substitute for Mg (eg Cu, Ni, Pb, Zn), Al (eg Fe, La, Ce) and metalloids/oxyanions (SeO42-, AsO43 -/CrO42 -, MnO4-) for CO3 into the hydrotalcite structure. A common feature of acid mine pit waters, often overlooked in assessment of potential remediation options, is the frequent predominance of divalent and trivalent cations as a consequence of partial decomposition of both ore and gangue minerals during in-pit wall rock leaching. Thus, given the presence of substantial divalent and trivalent cations in acidic mine pit waters, an opportunity exists to exploit and in effect work harmoniously with the prevailing pit water composition to form a polymetallic hydrotalcite.The utility of hydrotalcites in the remediation of acidic mine pit waters lies in their ability to incorporate a wide range of contaminants; instantaneous formation, often in a single step; simple post-treatment solute composition; rapid settling; low sludge volume; and the potential to form ore-grade precipitates potentially amendable to reprocessing to (partially) recover remediation costs. Examples of hydrotalcite formation as a method to remediate contaminated acidic mine pit waters at laboratory-scale to full-scale will be presented.CITATION:Douglas, G B, 2015. Whither lime? In situ hydrotalcite precipitation as a method of remediation for acidic mine lakes, in Proceedings Tailings and Mine Waste Management for the 21st Century , pp 97–104 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Jul 27, 2015

By J MacDiarmid

Atlas Copco is a leading provider of industrial productivity solutions (Atlas Copco, 2007) and one of the worldÆs largest suppliers of rock drilling equipment. The business division of Atlas Copco Construction and Mining Technique is based in +rebro, Sweden with the majority of their equipment produced in a number of facilities within the area. As part of the 2006 AusIMM/Atlas Copco Scholarship I was fortunate enough to visit these facilities to experience first hand this truly unique global company. Through numerous presentations on the various divisions and products manufactured by the company, I saw the broad range of products and services offered by the company and came to realise it is much more than just selling drills. Other highlights included a brief love affair, a tour of EuropeÆs largest underground mine (or factory depending who you ask), a drink at the ice bar at the ice hotel in JukkasjSrvi, and a number of dinners of reindeer. Overall this it was a truly amazing experience with all involved with the program going out of their way to ensure I got the most out of the trip. More importantly, through no effort at all, everyone naturally conveyed their passion for the industry and the company which is a great credit to the æAtlas Copco WayÆ thereby creating a company æcommitted to your superior productivity through interaction and innovationÆ.

Jan 1, 2007

By J Planner

As Australia’s coal and iron ore export volumes increase to meet international market growth, port terminals, mining operations and rail transport systems can be the source of increased dust emission. Current and future sustainable expansion must minimise dust emission from bulk handling and transport operations located in close proximity to residential areas. Lower level dust emissions can be controlled by operational measures such as water addition to products, and use of water spray on stockpile surfaces. Recent research has shown that higher levels of dust emission can be more effectively controlled by understanding and treating the dust characteristics of each individual bulk product. Application of this research, progressively being applied at Australia’s coal and iron ore port terminals and rail transport systems, is achieving compliance with health standards and minimising dust nuisance effects to an acceptable level.

Nov 22, 2011