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In formulating its strategic plan in 1998 the New Zealand Minerals Industry identified two related critical issues facing it. These are, broadly speaking, the issues of access to minerals; and the perception the public has towards the industry and its behaviour towards the environment. This presentation will report on the Industry's response to the public perception issue. The Industry has, through the NZMIA Council, and its Communication and Website Committees, developed and implemented strategies covering: communication through the print media, and through its website www.minerals.co.nz, a long-term educational outreach programme with schools, focussing on the significance of minerals, their contribution to community wellbeing and the negligible long-term environmental effects of the Industry's activities.

Jan 1, 2000

By S Paciornik

Computer-controlled microscopes with digital image acquisition and analysis led to the creation of the new field of digital microscopy. These techniques not only allow a certain degree of automation but have also brought new possibilities to microstructural characterisation. One of these new and promising possibilities is co-site microscopy, which links different kinds of information obtained from different microscopy techniques. The present work presents the development and implementation of a co-site microscopy methodology that combines images obtained by reflected light microscopy (RLM) and scanning electron microscopy (SEM). This methodology can improve the SEM analytical capacity by adding colour information from RLM. It involves the whole sequence, from image acquisition at the microscopes to the analysis of the phases using pattern recognition techniques. An automatic registration procedure for the two kinds of images was developed, allowing the adjustment of magnification, translation, rotation and pixel size, and the correction of local distortions. Thus, the images from RLM and SEM can be combined to build a multidimensional data set of each field, which can then be used in a pattern recognition approach to discriminate different phases. The methodology was tested with a copper ore sample, aiming at the discrimination of minerals that are not distinguishable with either RLM or SEM.

Jan 1, 2008

By R Stosch, D Lohberger, J Rodler, E Schnell and A Bassler, H Ramseier

In the last two decades three-dimensional (3D) computational fluid dynamics (CFD) simulations have become an important tool in engineering sciences. More recently, the safety requirements in underground railway stations have increased with regard to incidents. For this reason, existing underground stations (eg Munich, Strasbourg and Berlin) are being equipped with smoke extraction facilities to protect passengers from smoke and visibility impairment in the event of fire. In addition, designs of planned underground stations (eg Karlsruhe, Doha) also include these facilities.For the commissioning of ventilation engineering systems with complex structures, the functional testing of the whole technical installation are important, as are the acceptance tests of ventilation and equipment parts. This functional testing includes not only the technical inspection of the equipment but also the acceptance measurements of the capability of the equipment and the execution of hot- or cold-smoke tests to confirm the effectiveness of the ventilation system.Due to the fact that the overhead contact line and other sensitive installations were already installed in the tunnel roof at the time that smoke tests were proposed, hot-smoke tests with fire loads up to a maximum of 1 MW could only be executed. Therefore, the evidence of the attainability of the safety objective had to be provided computationally in this special case with a fire scenario of a heat release of 10 MW using CFD simulations.This paper presents the interplay between the results from acceptance testing and smoke tests and the use of 3D CFD simulation and virtual reality using the example of Allmend station, which was repositioned underground and is part of a new section of track from Lucerne railway station to Kriens in the Zentralbahn network. The steps of the verification and validation of the computer model are presented with the real tests and measurements.CITATION:Stosch, R, Ramseier, H, Lohberger, D, Rodler, J, Schnell, E and Bassler, A, 2014. Safety in underground railway stations – an example of the interplay between testing and 3D computational fluid dynamics simulation, in Proceedings 15th Australasian Tunnelling Conference 2014 , pp 103–112 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Sep 17, 2014

By S H. Begg

There is strong evidence that many major oil and gas (O&G) projects are plagued by large cost and schedule overruns, or significant underperformance in productivity. Similar evidence exists for large mining projects. This paper claims that uncertainty is the underlying reason why projects fail to deliver the metrics used to justify their investment, or to deliver the economic value possible if alternative decisions had been made.Most technical and economic analyses are performed to reduce uncertainty to help make decisions. Decision-making is about ranking alternatives and choosing the best; rarely are precise predictions required, if this is even possible. Better uncertainty assessment is one of the keys to better decisions, thus better business outcomes. To get better decisions it is suggested that the focus or reward/penalty incentives be shifted away from the quality of outcomes to the quality of decisions. High-quality decisions are those that are generated from the skilled use of the tools, methodologies and processes from the discipline of decision analysis.Uncertainty is quantified by probability, which is a degree of belief in the truth/falsity of some proposition about a quantity relevant to a decision, such as volume of in-place resource, future price or action of a competitor. The probability a person ascribes to a proposition depends upon their information set; hence probability is subjective – it is not an inherent attribute of the quantity of interest or the physical system.The above simple observations have profound implications for modelling approaches, how they deal with uncertainty, the use of data to help assess uncertainty and the reliability of information provided by subject-matter experts. The limited circumstances under which frequency data (from spatial or temporal variables) can be used to assign probabilities is also reviewed.People, in general, are subject to a range of biases and cognitive errors. Research with O&G subject-matter experts shows that their expertise offers little or no protection from making errors in probability assessments and other judgements.CITATION:Begg, S H, 2016. Decisions, decisions – uncertainty, variability, modelling and psychology, in Proceedings Seventh International Conference and Exhibition on Mass Mining (MassMin 2016), pp 9–18 (The Australasian Institute of Mining and Metallurgy: Melbourne).

May 9, 2016

Study on Dynamic Characteristics of Inertia Cone Crusher and Its Application

Sep 13, 2010

By H Arvidson, V Chamberlain, J Joughin, N Pollock, F Cessford, T Flitton, T Rowl

Environmental, social and governance issues (ESG) have become a defining feature in the marketplace to differentiate preferred investments. With the sustainability commitment and reporting landscape anticipated to evolve exponentially, it is now imperative to rapidly develop the approach taken by mineral companies to adequately identify and address ESG risks and opportunities in the reporting of Mineral Resource and Mineral Reserve (MRMR). MRMR cannot be effectively reported as technically and financially assured and realistically executable, if ESG is not integrated into the strategy, business model, input assumptions and process that defines and drives robust MRMR public reporting. Regulatory reporting codes across the globe are presently in various stages of being updated and modified to ensure ESG factors are appropriately covered as a key part of diligent and transparent disclosure. Security exchanges are making it clear that companies must not omit ESG risks from reports to investors. This paper discusses associated challenges for MRMR reporting and suggests avenues for improvement. Key themes include: the importance of procedure rather than prescription and checklists; how ESG criteria impact Modifying Factors and determination of Reasonable Prospects for Economic Extraction (RPEE); the need for financial models to account for material ESG commitments; the uniqueness of each mineral asset; the need for education, upskilling and accreditation of both ESG experts about MRMR reporting and equally Competent Persons in ESG matters; and the need for clear and balanced reports that meet the needs of end users. (RPEE is adopted here for simplicity and consistency, recognising that some reporting codes still include ‘Eventual’ in the term (ie RPEEE). Whilst RPEE and RPEEE are subtly different the intent is to point to the process of assessing ESG factors in determining reasonable prospects.) The principles of transparency, materiality and competence remain paramount when considering the impact of ESG matters on MRMR reporting, and this necessitates an inclusive, cohesive, and integrated approach to assessing ESG issues to ensure the necessary expertise and diligence is applied.

May 24, 2023

By P Shen, K Hattori, H Pan, E Seitmuratova

"An EXTENDED ABSTRACT is available for download. A full-length paper was not prepared for this presentation. Ore-bearing intrusions in the Central Asian Orogenic Belt (CAOB) were examined from nine mines: Boshekul, Nurkazgan, Kounrad, Borly, Aktogai, Koksai, Baogutu, Tuwu and Erdenet. The intrusions are diorite, granodiorite and tonalite with SiO2 contents ranging from 58 to 75 wt per cent, and show mildly fractionated rare earth elements (REE) ([LREE]N/[HREE]N = 2.7–4.7) – light REE and heavy REE – and varying Eu anomalies ([Eu]/[Eu]* = 0.58–1.4). The ratios of Sr/Y vary from 7.9 to 115 and the contents of Y from 4.6 to 23.9 ppm. The parental magmas of the intrusions are intrinsically oxidised. Zircon grains in the ore-bearing rocks from large- and intermediate-sized porphyry Cu deposits show high Ce4+/Ce3+ ratios characterised by 65–422 at Boshekul (>4.1 Mt Cu), 76–480 at Kounrad (>4.8 Mt Cu), 90–280 at Aktogai (>12 Mt Cu), 80–250 at Erdenet (>11 Mt Cu) 74–370 at Nurkazgan (>3.9 Mt Cu), 100–210 at Koksai (>1.6 Mt Cu), and 71–340 at Tuwu (~2.0 Mt Cu). In two small deposits, the ore-bearing rocks display low values of Ce4+/Ce3+; Borly (0.6 Mt Cu) ranging from 28 to 158, and Baogutu (0.6 Mt Cu) from 29 to 113. The Ce4+/Ce3+ ratio of 120 distinguishes large intermediate-size deposits from small-size deposits. This information is potentially useful in exploration for porphyry Cu deposits in the belt.CITATION:Shen, P, Hattori, K, Pan, H, Jackson, S and Seitmuratova, E, 2015. Granitoids associated with porphyry Cu deposits in the Central Asian Orogenic Belt – characteristics and oxygen fugacity, in Proceedings PACRIM 2015 Congress, pp 377–382 (The Australasian Institute of Mining and Metallurgy: Melbourne)."

Mar 18, 2015

By T N. Little

The grade control process undertaken at mines aims to maximise the value of the ore (valuable product) mined and fed downstream for processing or sale. The full range of grade control activities includes: reserve estimating, drilling/sampling, assaying, modelling, ore block design, blasting, ore mark out, excavating, stockpiling, processing and reconciling. Over the last 25 years, the grade control process has undergone significant improvements and this is in part due to the developments in grade control blasting. This paper discusses the development and classification of grade control blasting applications in surface mining. A review by the author in 1988 (Little and van Rooyen, 1988) is used as a benchmark for discussing the very significant progress that has been made.Two major technology initiatives have enabled this development. The first was the development of a method for the measurement and analysis of total displacement during the blasting process. Currently, the Blast Movement Monitor (BMM®) is a practical tool that has been used around the world to improve the industry’s understanding of three-dimensional blast movement dynamics. The second technological enabler was the development of electronic detonator systems. The unique aspects of electronic detonating systems are their higher accuracy and that all detonators are activated at time zero (initiation). From a grade control blasting perspective these features and other improvements allow experimentation and, ultimately, more complex, multiobjective blasts to be designed and implemented.This paper reports on a classification and review study undertaken by the author. In all, five selective blasting methods and nine bulk blasting methods are classified and reviewed. Five important observations are made: there is value in classifying the range of grade control blasting strategies, and the blasting objective framework presented is helpful in this regard the range of strategies available to designers is increasing as enabling technology develops, so too do the ambitions of blast designers and the expectations of downstream customersgrade control blasting and Mine to Mill concepts are merging, and this paper caters for this trend using multiple blasting objectiveshaving a technical primary blasting objectives framework, combined with the classification system presented here, should assist practitioners and stakeholders with lateral thinking in regards to future technological innovations, grade control blasting and Mine to Mill initiatives.CITATION:Little, T N, 2015. Classification and development in grade control blasting for surface mines, in Proceedings 11th International Symposium on Rock Fragmentation by Blasting, pp 343–354 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Aug 24, 2015

By A Golsby

Although much talked about, social licence to operate (SLTO) is a relatively new concept that has been deemed as one of the four biggest business risks to a mining project over the life-of-mine. There is no accepted single definition of SLTO and this author understands SLTO to be stakeholder perception of the legitimacy of a project, a company or an industry. At a specific site, and across different sites within the same organisation, SLTO ranges through different levels according to stakeholders’ degrees of acceptance in time and space. Management of SLTO is vital for the mining sector but is difficult as it is informal and intangible. Although there are no key performance indicators, there are certain indicators that enable relative measurement of the ‘level’ of the SLTO. Because of the importance of the SLTO, information management during the entire life-of-mine, from exploration to rehabilitation, becomes crucial for the continued operation of a project. This paper identifies ten basic principles for the management of information to support the SLTO.CITATION:Golsby, A, 2014. Managing information to support a social licence to operate, in Proceedings Life-of-Mine 2014 , pp 389–398 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Jul 16, 2014

This paper discusses the social and economic impact of mining, and in particular goldmining, on New Zealand. The range of topics covered and their complexity has confined us in this paper to highlighting the main points of concern û a detailed report is under preparation. A major problem in undertaking this study was the lack of hard data on important environmental, economic and social issues and if there is to be effective planning in the area of natural resource use this situation must be rectified. The following conclusions were drawn: Goldmining was very important in shaping New Zealand's early social and economic development, providing wealth, employment and impetus for social change.Foreign investment and technology has been an essential element in New ZealandÆs economic development.Mining is a small industry at present by this must not be allowed to obscure its potential to broaden New Zealand's economic base and provide foreign exchange.With modern methods, development of mineral resources and environmental protection are not incompatible but certain unique and irreplaceable areas must be preserved.There are problems in evaluating mining and other projects because different groups hold different values, and arguments often hinge on the valuation of costs and benefits rather than the technical aspects of the analysis.Mineral exploration is a high risk business and the potential returns must be sufficient to attract capital if New Zealand's mineral resources are to be developed.A resurgence of goldmining will clearly have obvious benefits for Waihi but the local community must plan carefully for their future. New Zealand will also gain valuable foreign exchange required for higher levels of economic activity.

Jan 1, 1981

By M Pepper, C R. Roche, G M. Mudd

"The Australian mining industries approach to life-of-mine planning has improved considerably in recent decades. It now needs to be matched by, and embedded in, mining governance systems that utilise a comprehensive whole-of-mine-life approach within a jurisdictional, industry and regional regime rather than just focusing on specific impacts in isolation. The need for a more comprehensive approach is supported by the many mining legacies, from historic, recent and some operating mine sites around Australia. There are sites that are leaving enduring environmental, community and public health impacts that are yet to be accurately assessed. While a number of these sites in Australia are estimated to be more than 50 000, this is probably an underestimation, with a lack of data and different state-based approaches complicating attempts to quantify mining legacies as a national issue. Qualitative assessments about the extent and nature of mining legacy impacts on nature and communities across Australia are also required if we are to understand and avoid ongoing and future mining legacies.This paper commences with an exploration of mining legacies as an umbrella term for previously mined, abandoned, orphan, derelict or neglected sites. This is followed by a discussion of the current status of mining legacies as an Australia-wide issue, contrasting the Australian response with overseas examples. Common themes from past workshops are explored recognising that mining legacies are a growing public policy issue and identifying key ingredients for a successful response. Supporting this, and based on national data which re-enforces the need for action, is the changing scale and intensity of mining in Australia that, while lowering costs for mine operators, increases the liability that may eventually fall to the state if mine sites are not rehabilitated effectively. Though a national issue, mining is a state and territory responsibility, so the current approach to mining legacies is then examined state-by-state. Given the widespread application and recent changes to bonds and levies in Western Australia (WA) and the Northern Territory (NT) the merits of both are examined with reference to specific case studies. Despite the current division of responsibility and diversity of approaches, however, mining legacies remain a significant and growing problem with a recognised need and repeated call for cooperation and coordination at a national and international level. Future action is addressed in the final section with reference to liability, responsibility, industry reputation, regulation and leadership.CITATION:Pepper, M, Roche, C R and Mudd, G M, 2014. Mining legacies – understanding life-of-mine across time and space, in Proceedings Life-of-Mine 2014 , pp 449–466 (The Australasian Institute of Mining and Metallurgy: Melbourne)."

Jul 16, 2014

NATURE OF ORETHE Edna May ore consists mainly of clean quartz of a moderately hard and tough nature. The gold content is "free" and fairly coarse, so that a large percentage is recovered by amalgamation. The ore is practically free from metallic minerals.GENERAL OUTLINE OF PLANT AND TREATMENTThe ore, received from underground in trucks, is broken by a jaw breaker, then stamp-milled, follow~d by partial filie-grinding in pans. Mercury is used both in the mill boxes and pans. The pulp, on leaving the pans, passes over amalgamating tables and is then elevated by tailings pulp to cone classifiers and separated into a sand and slime product, each product receiving a separate cyanide treatment-sand by leaching in vats and slime by agitation and decantation in a "Trent" plant. Gold solutions from both sand and slime are precipitated together by zinc shavings in the usual type of precipitation boxes. Accumulated slime is trucked from the dam to a vortex mixer and from this point receives with the cement slime the same treatment.ORE BREAKING AND TRANSPORTThe ore is trucked from the brace of the shaft along an overhead line to the breaker station. Hence it is, by means of a "kick-up" dumped upon a grizzly, set with 2-in. spaces, the oversize being broken by a 15 x '9 Fraser and Chalmer jaw...

Jan 1, 1919

By J P. Sykes, A Trench

"The common-held view of the future of copper mining is one of declining quality of mineral resources and increasingly limited long-term development options. This decline, in turn, is viewed as inevitably leading to increasing economic, socio-political and environmental costs. As a result, new technologies and innovations will be required to mitigate cost escalation. The future is therefore typically summarised as a battle of a ‘below-ground’ declining quality asset base pushing costs upward versus ‘above-ground’ technology and innovation driving costs downward. The role that high quality new mineral discoveries could play in mitigating industry cost pressures is typically understated, if considered at all. New high quality discoveries can be mined at lower cost than existing assets and potentially if discovered in the right locations within a more amenable contemporary environmental and socio-political setting. Such deposits, once discovered, would improve the overall quality of the industry asset base, as well as benefitting their owners substantially through higher margins. However, to target new high quality deposits explorers need some understanding of the nature of high quality copper mines in the long-term future. Conventional scientific and economic techniques for analysing the future of copper supply, generally by studying the project pipeline, ignore as yet undiscovered resources and also struggle to fully incorporate the multiple internal and external factors that could impact upon copper mining practices in the future.Scenario analysis is specifically designed to consider multiple factors interacting in the future, and is thus more creative than simply looking at the visible project pipeline. The use of scenarios is therefore potentially capable of providing insight into aspects of the future of copper mining about which little is currently known or that remains considerably uncertain. In this study, the Oxford University Scenarios methodology was employed to analyse different plausible futures for copper mining and the consequent implications for exploration targeting strategies. The scenario analysis highlights two key dimensions or axes that serve to map out potential industry futures: firstly the technical and economic optimisation of the existing industry; and secondly the generation of new prospects or ‘search space’ for the copper industry. These two axes in turn frame four different scenarios for the future of the copper mining industry. These copper mining scenarios are then compared to the 20 largest existing copper mines and projects, and their owners, to determine if any represent an appropriately robust exploration targeting proxy: none do. The paper therefore concludes that efforts by industry are required to generate mine concepts that would be viable across all scenarios, and thus act also as exploration targeting proxies. In the interim, companies will have to seek to build portfolios that create an overall robust asset base, out of individually less robust assets. Failure to do this implies that consequential, irreversible strategic decisions lie ahead for the copper mining industry, which may be a threat to both incumbents and the very industry itself. This situation makes strategic exploration targeting in the copper industry very difficult.CITATION:Sykes, J P and Trench, A, 2016. Using scenarios to investigate the long-term future of copper mining and guide exploration targeting strategies, in Proceedings International Mine Management Conference, pp 265-290 (The Australasian Institute of Mining and Metallurgy: Melbourne)."

Jun 22, 2016

Australian coals tend to be young in geological age and high in ash by world standards; preparation of the coal before marketing is almost universal. On the basis of float and sink data from 39 locations in the Eastern Australian coalfields, the coals are placed in four categories representing increasing difliculty in their washability characteristics. These seem to be related neither to the geological age nor the geographical position of the deposit and Hunter Valley coals, for example, span all categories. The influence of crushing on the washability of Australian coals is briefly considered and from limited data it is concluded to be appreciably smaller than for British or North American coals. A strategy for the float and sink analysis of Australian coals is proposed and the influence of washability characteristics on current trends in the selection of separating processes for coking and steaming products is discussed.

Jan 1, 1979

The Bega granite at Whipstick, N.S.W., consists of a granite metasomatically altered to leucogranites and a spessartite-granite. The ore occurs in pipes controlled by jointing and shows evidence of post-depositional tectonic forces.The principal ore minerals are molybdenite and bismuthinite, with minor amounts of uraninite, pyrite, gold, bismuth, joseite A, joseite B, tetradymite, chalcopyrite, arsenopyrite, and skutterudite. The gangue minerals are microcline, albite, quartz, muscovite, and spessartite, with fluorite, chlorite, magnetite, and biotite as accessory minerals.The intrusion of granite was followed initially by ascending metasomatic fluids which penetrated along joints to be trapped in the domed roof of the intrusion to form the leucocratic granite. Iron-manganese-rich fluids metasomatically altered the granite to a spessartitegranite which is associated with the later deposited ore.Quartz veins and dykes of varying composition post date the ore deposition.

Jan 1, 1968

The distribution of tin and iron between slag and metal phases at about 1150°C was studied in pot scale experiments. The distribution coefficient k = (Sn/Fe) In metal X (Fe/Sn) in slag was found to vary from about 300 for metal corresponding to nearly pure tin, to about 100 for metal of about miscibility gap composition (17' 4 per cent Fe). Results conformed reasonably well to a straight line relationship between log k and (l-2NFe), as expected on theoretical grounds, and are consistent with thermodynamic data for the Fe-Sn phase diagram and the reaction Fe + SnO = FeO + Sn.Calculations are presented indicating the feasibility of smelting low-grade tin concentrates in a two-stage counter-current reduction process.

Jan 1, 1966

By K Ringwood, J Cummings, C J. Moran

The development of a water accounting framework that enables consistent and contextual reporting of minerals operationsÆ water use, represents a key sustainable development objective that many Australian minerals companies have committed to. A future water accounting framework will require: key terms and definitions for water metrics for use in the Australian minerals industry that are consistent with the wider water sector, a suite of metrics representing key components of an operationÆs water balance, a calculation method for some of the metrics, and a reporting protocol. This paper presents the methodology that was used to derive these four components. Existing accounting frameworks were reviewed and key terms and definitions that were consistent with current regulatory requirements and voluntary approaches were proposed. A calculation methodology was developed to obtain some of the key indicators and variables that cannot be easily measured directly (eg water loss through evaporation). The adopted terms and definitions typically require a combination of empirical and estimated data. To test the proposed definitions and calculation methodology, values for water metrics were derived for eight sites, selected to test a variety of commodity and biophysical situations. The proposed framework and definitions could deal with the specific situations selected as case studies. The associated calculation methodology produced complete accounts at various levels. Some elements of the accounts could be directly checked against available data and simulations. The framework captured well variations in the reuse efficiencies; reuse efficiency could even vary for similar processes. It is concluded that this preliminary accounting framework provides a consistent language and metrics for quantifying and communicating water management, both at the intersection of the site with the surrounding landscape (through detailed reporting of site inputs and outputs) and within operational activities. Using this consistent framework for quantifying and documenting water use within an operation will provide a platform for compiling and comparing minerals industry water use with other sectors. This may support benchmarking activities within regions or companies and help demonstrate leadership amongst water users in water resource stewardship. The approach presented here is applicable to a wide variety of mining and processing activities, and biophysical environments, and following a period of stakeholder engagement and third party review, is being refined as a first step towards developing nationally consistent water use reporting for the Australian minerals industry.

Jan 1, 2009

By Wylie A. W, Mathew PJ

Bulk density and grade were determined on a variety of ore samples from the Mount Tom Price iron ore mine and the interrelationship between these properties and porosity deduced.Variable porosity is responsible for the wide scatter of data points and low accuracy of prediction in the grade of a single sample from grade/bulk density relationships.However, with a sufficient number of such data points, as from a nuclear geophysical borehole logging operation, the mean ore grade in an exploration-type drill hole (~63 per cent Fe) could be determined by regressionanal~sis with 95 per cent confidence intervals of approximately ± 1 per cent Fe. From the same logging operation, utilizing core data for calibration of the probe, the -mean fractional porosity for the drill hole (0·19 ± 0·016 at 95 per cent confidence interval) was deduced. This is less accurate than the corresponding result obtained on core material in the laboratory (0·20 ± 0·005).The range of porosity was from 0·08 for dense, high grade sectIOns of the ore, to 0·28 for friable ore of high grade or goethitic ore of lower grade. Shale band porosity ranged from 0·15 to anomalously high values of 0·48 believed to be caused by leaching of iron minerals from the shale. Porosity values for the iron ore component of the deposit are comparable to those found for the Cockatoo Island (W.A.) mine, and for sections of the Krivoy Rog (Ukraine) iron ore deposit of the Soviet Union.

Jan 1, 1978

The principal source of funding the working capital requirements of gold miners has traditionally been equity. However in the 1980s, with a substantial increase in activity in the exploration for, and the production of, gold the traditional sources of equity finance became no longer sufficient to meet demand. With the often high cost of raising equity, the need for developing alternative financing structures became critical, especially since the stockmarket crash of 1987 which at least until recently, adversely affected the amount of equity capital available for investment in mining.

Jan 1, 1994

LAKE MARGARET is situate high up on the West Coast Range of Tasmania, and lies in a roughly triangular valley formed by the ridge of Mount Sedgwick on the south, the ridge formed by Mounts Geikie and Tyndal on the west, amid a ridge connecting Mounts Geikie and Sedgwick on the east. Any description of this hydroelectric installation, however brief, naturally divides itself into the following sections:1. STORAGE BASIN, &c. 2. DAM. 3. PIPE LINES. 4. POWER STATION. 5. TRANSMISSION LINES. 6. SUBSTATION 7. VARIOUS WORKS utilizing the power.The Storage Basin used is the natural lake itself, which has a maximum length of 110 chains, a maximum width of 40 chains, and a mean arelj. of 300 acres. The water-level of the lake, which has been maintained by a natural dam, is 2143 ft. above sea-level. The approximate catchment area at present appropriated is 7 sq. miles, and the rainfall, on the average, about 144 in. per annum. It is possible to increase this catchment area by suitable races, &c. Dam.-The dam constructed is of very small dimensions, and is not a storage dam in the usual sense of the term. The natural storage ot-the lake itself was used by means of a channel cut through the natural dam and thence to the mouth of the lake, the lake level being thus temporarily lowered while the outlet pipes, screens, &c., were placed in position, and the channel was then closed again with a concrete wall in which the pipes and screens are set. This channel was cut partly through rock and partly through sand and conglomerate boulders for a total...

Jan 1, 1915