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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

By Hempenstall J, English W

Mine management has a responsibility under the various acts of state parliaments for the adequate ventilation of existing workings. It also has a need to plan adequately for the ventilation of proposed workings. Future workings alternatives have become progressively more complex and ventilation planning of the various possibilities must be undertaken within an atmosphere of rapidly changing market circumstances, etc. Any non-optimal solution will prove more expensive than necessary on both capital and cost bases. Clearly these increasing and alternative ventilation demands of coal mines in Australia have multiplied the work load of ventilation engineers. Management in general has for some time been aware of the advantages of using computers for commercial applications such as payroll and stores inventory. However, while the hand held calculator has replaced the traditional log tables and slide rules for smaller engineering calculations, the larger digital computer has not made the same

Jan 1, 1983

Brand se Baai, on the North-Western Cape Coastline of Southern Africa, is the site of the Namakwa Sands Limited Heavy Mineral Sands Mining Operation. The mine is a 14 000 000 tonnes per annum open-cast strip-style mining operation using truck and excavators to mine the sand. The orebody consists of relatively unconsolidated sands reworked by fluvial, marine and aeolian mechanisms. The total orebody includes three primary ore types, namely the Red Aeolian Sands, the Dorbank (a hardcap layer) and the Orange Feldspathic Sands, which forms the bulk of the resource. Mine planning and scheduling is done using a 50 m + 50 m variable bench height system with three primary bench heights. The Aeolian and Dorbank each have a bench that varies with their thickness of up to a maximum eight metres and the Orange feldspathic sand, a standard bench height of eight metres. For a number of years Namakwa Sands used a complex 2D, Datamine Based, macro system to perform the resource evaluation and mine design. As the mining operations expanded it became clear that a complete system redesign was required to cope with the increasing operational pressures coming to bear on the old system. The biggest challenges facing any replacement system are the sheer scale of the mining operation (16 km long and 7 km wide resulting in a minimum of 30 000 individual 50 m + 50 m mining blocks), the size of the geological data files (up to one gigabyte) and representing the benching system accurately (as the benches follow the topography and are not horizontal). In addition to these large-scale issues, the ability to run multiple mine design scenarios was required, an aspect which the old system was unable to perform adequately. Based upon these primary difficulties, a new business process was developed which required a complete rethink of the mine design methodology as well as the creation of a new system to deplete the resource model, produce monthly reconciliation evaluations and create a ultimate pit limit based on the operations mining cost model. Using a system based on the Earthworks Mine2-4D Mine Design and Scheduling System (with its mine design and scheduling specific tools), as well as a small, customised program, massive time-savings have been made. It is now possible to run several life of mine scenarios in the same timeframe that a single life of mine run took under the old system. This paper will present the methodology and business decisions behind the new Namakwa Sands system, and detail the restructuring and development used to deal with the large data set sizes and long processing times inherent in the old system. Future enhancements to the system that will make it more generically applicable to open-cast mining scenarios will also be dealt with.

Jan 1, 2003

By Xueqiu H

Since the hypothesis of coal and methane outburst mechanisms based on elastic mechanics gives no consideration to time, it cannot give satisfactory explanation of the outburst occurrence and its development. A creep mathematical model of coal containing gas has been set up through creep tests and analysis under a condition of triaxial compression. Such a model can explain the phenomenon of coal and methane outbursts successfully. The tests proved that there is no essential difference between the rheological properties of prone outburst coal and non-prone outburst coal. Outburst can take place in any kind of coal if the rheological conditions of coal containing gas are met. The creep mathematical model provides a basis for establishing a comprehensive index of coal and methane outburst potential.

Jan 1, 1992

By J Manuel, N Ware

Ideal iron ore sinter is produced by optimising the balance between coarse (+2 mm), stable ore nuclei and a reactive matrix consisting largely of fluxed -1 mm fines. The authors have previously published work evaluating the matrix melting behaviour of a number of fine ores, using techniques developed by CSIRO. The focus of that work was to demonstrate the contribution of the matrix to overall sinter quality, with the results showing a direct correlation between melting point, matrix porosity and strength. CSIRO has also developed a complementary test to study the behaviour of coarse ore nucleus particles in contact with the sinter matrix and provide an evaluation of their reaction and assimilation properties. This test provides valuable fundamental information that can be used to better understand the role of specific ore types and optimise blend composition.The CSIRO laboratory-scale assimilation test is carried out by embedding particles of ores of specific sizes into a fluxed matrix of known sinter blend composition, using real ores and fluxes, in a laboratory test that directly relates to pot-grate and plant sintering conditions. Samples are fired under controlled conditions in a tube furnace using a standard heating profile and a constant, low-oxygen potential atmosphere. These conditions simulate the actual sintering process while removing the effects of the many locally-variable parameters (eg temperature, oxidation potential and localised chemistry) that exist in the actual process, meaning that trends in behaviour can be more clearly seen. Designed as a compromise between the industry-standard pot-grate sintering test and a more fundamental test using chemical reagents, the aim is to isolate and evaluate the nucleus behaviour of an individual blend component to allow an improved understanding of the role that an individual ore plays in a specific blend. Measured cross-sections of the resulting fired samples provide a semi-quantitative measure of reactivity, while accompanying photomicrographs allow a qualitative assessment of assimilation properties (eg volume and distribution of secondary porosity generated during reaction).In this paper, to complement the previous work published on melting behaviour, nucleus particles were selected from hematite, hematite-goethite and goethite ores and embedded in a simulated plant sinter matrix. Drilled core particles of two sizes were tested at fixed temperatures simulating low- (<1300°C) and high-temperature (>1300°C) sintering conditions. The resulting assimilation properties are compared and discussed as a function of particle size, temperature and ore/sinter mineralogy. The implications for the contribution of each component to the prediction of blend sinter quality are also discussed.CITATION:Ware, N and Manuel, J, 2015. Fundamental nucleus assimilation behaviour of hematite- and goethite-containing ores in iron ore sintering, in Proceedings Iron Ore 2015, pp 77–82 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Jul 13, 2015

By D R. Chalmers

Coal dust explosions have occurred in coal mines across the world. The Mitsui Miike Coal Mine disaster in 1963 was an example of how this hazard was not managed effectively, resulting in the loss of 458 lives and hundreds of people sustaining permanent brain injury from carbon monoxide poisoning. Management of the risks for this hazard have been well documented and have been implemented in modern coal mines. A recent trend in some mines has seen the abolition of barriers on roadways on the basis that the risks are being managed by the current controls. These controls include stone dust application, trickle dusters, dust analysis and dust removal. This paper explores the science behind such controls and questions the need for barrier protection on belt roads.CITATION:Chalmers, D R, 2013. Cybulski revisited - Lessons on dust, in Proceedings The Australian Mine Ventilation Conference , pp 165-168 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Jul 1, 2013

By Martinick WG

In July 1986, Cable Sands (W.A.) Pty Ltd commenced mining for mineral sands at Minninup, approximately 16 km south of Bunbury, Western Australia.The area being mined is from the heel of the foredune to the rear of the hind-dune. The vegetation is mostly native vegetation with some old degraded pasture.The mining operation will be by suction cutter dredge, with continuous dredging, mineral separation and re-depositing of the sand.

Jan 1, 1986

By L. Gilbert

Recent changes to environmental legislation and trends in the environmental regulation of mining in the Northern Territory are being driven by (among other factors) Federal Government policies and international agreements on the environment. These trends are discussed and the expected application of the NT Water Quality Management Strategy (based on the National Water Quality Objectives) over the next few years is examined with respect to mine environmental management practices. Some of the potential conflicts and changes in approach which may develop are identified and examples discussed. Proactive means of integrating trends in environmental legislation with mine planning and waste management are discussed.

Jan 1, 1994

This paper aims to address the issue of the public's image of the extractive minerals industry. What is it about the industry that incites such negative feelings and are they justified? Are we really the 'rapists of the land' that many would have us believe? Has the industry really not improved since the old gold boom days?   I believe that the fundamental cause for the public's view is lack of knowledge and understanding of the industry as a result of the dislocation of the end production from its source. There are few people who look at a house, car, record, toilet, tooth-brush, bottle of coke or pair of glasses and see the mine site that supplied the source material. But the mine site and its products should be inseparably linked. This is one area where we should be educating the public û it is all very well being anti-development but the population as a whole is not really prepared to live without its 'mineral'-derived necessities. It is very easy to say that we do not want minerals development in New Zealand but are we prepared to live with the consequences, ie go without its products? We have a duty as a global citizen to develop our own resources rather than expect Third World nations desperate for overseas investment, often with governments who are not prepared to constrain or control their development, to be exploited. New Zealand is not the only 'beautiful' place in the world and we should be aware of the impact that our demands for resources have on the countries who supply us. We have a duty to be a good global citizen.   So how does the industry improve its public image? The key here has to be to educate. This does not have to be high powered or expensive but can be as simple as getting a few local kids' hands dirty panning, and gaining some firsthand knowledge of the industry. The industry also needs to be more pro-active in the public arena. Yes, the industry has skeletons, but the industry should be publicly displaying them û admit that things have gone wrong but let's do it ourselves and not leave it up to the environmental groups to accuse, point the finger and put the industry under public scrutiny. The industry should also be publicising its successes, inviting the local press, councils, etc to view the latest area rehabilitated. But more than anything else we must tell the public what the minerals industry means to New Zealand. Can they really live without us?

Jan 1, 1991

As mining and extraction processes improve and lower grade ores become economic, mining for most ores have extended to depths beneath the zone of weathering oxidation created over geological history. These deeper openings expose sulphidic formations and reduced mineral species as either primary ore or simply as accessory or gangue minerals in the country rock. This is not new, underground mining for primary base metal and gold have long been familiar with these problems, as have coal and uranium miners. The change is simply that the number of mines exposing sulphidic waste rocks, tailings to the atmosphere and/or leaving behind dewatered sulphidic rock surrounding the mine void has increased the number of sites from where acid mine drainage (AMD) may emanate with consequential problems for the hydrological environment including downstream catchments (Miller et al, 1996). The principles of ecologically sustainable development (Brundtland, 1987) have been more or less ratified by all the developed nations of the world and this has led, amongst other things, to an expansion unprecedented in the research and documentation of means for achieving long-term environmentally acceptable stabilisation of solid wastes of all sorts. These have revealed that AMD problems can be minimised and even reversed in many cases by the integration or co-disposal of biodegradable organic wastes with oxidising sulphidic wastes (Elliott et al, 1996). This paper considers how this might be achieved at mine sites in Australia and the results encountered at some relevant sites.

Jan 1, 1997

By V Gupta, Z Huang, S K. Biswal

G-Cell is a new design modification of the Imhoflot pneumatic flotation technology, which utilises a self-inducing aerator inside a downcomer, where bubble-particle attachment takes place. The present study has investigated the suitability of the G-Cell technology for cleaning fine coal using a 0.8 m diameter prototype unit at a coal preparation plant operating in the Midwestern United States. A slip-stream obtained from the overflow of raw coal cyclones operating in the plant, containing nominally minus 150 micron size particles and having ash content in the range of 40 per cent to 50 per cent and sulfur content in the range of 1.30 per cent to 1.50 per cent, has been used as the feed for the G-Cell. The performance data produced from the G-Cell tests are found to be very close to the ideal performance curves produced from release analysis. A statistically designed experimental program has been conducted to investigate the parametric effects on various key process responses, such as combustible recovery, product ash and sulfur rejection. The empirical models developed in this study have been utilised to identify a suitable experimental region for achieving a desired combination of response targets.

Jan 1, 2005

This paper describes the new iron and steelmaking process recently commissioned at NZ Steel. Ironsand mined and concentrated at Waikato North head is slurry pumped 18 km to the company's Glenbrook works. Ironmaking includes the direct reduction process pioneered at Glenbrook in the 1970s and a new continuous electric melter. The molten, high carbon pig iron produced is then fed to a vanadium recovery unit and on to the KOBM oxygen steelmaking vessel. Steel is cast into billets or slabs. The new plant, which is the first stage of a fully integrated works at Glenbrook, raises New Zealand Steel's production capacity from 150 000 t/y to 750 000 t/y.

Jan 1, 1986

The theme of the conference this year is diversification. One way to diversify is through acquisition. The principle underlying the winner's curse is that in competitive bidding situations where the value of the asset bid for is uncertain the winning bid will overstate the true value of the asset. The successful bidder is blessed with the winner's curse. What this paper will explore is to what extent this is true; how acquirers can avoid being blessed with the winners curse; and show how joint venture deal structures are used within the mining industry to avoid the winners curse.

Jan 1, 1996

This paper deals with the evolution of Canadian shaft sinking technology over the last 15 years. Most, if not all, shaft excavation projects in Canada prior to 1990 were sunk using traditional benching methods with labour intensive equipment. In the late-1980s, J S Redpath Limited of North Bay, Ontario, Canada, were contracted to deepen the shaft at Atomic Energy of Canada LimitedÆs Underground Research Laboratory (URL) located in southern Manitoba. The laboratoryÆs role was underground hydrological and geomechanical research, so the project offered both time and opportunity to conduct additional experiments while sinking. The offshoot of the research program was the true birth of the Canadian version of full-face, long round shaft sinking technology. Throughout the 1990s, this sinking method has been further refined over a number of shafts. The results have been faster sinking rates, a safer work environment and an overall improvement in project economics.

Jan 1, 2002

By G K. N Subasinghe

"In the design and operation of mineral processing plants, knowledge of the variability of ore properties and that of the expected metallurgical performance within the orebody is of great importance in order to avoid both production constraints due to inadequate design and less than expected metallurgical performance during operation. Of the many properties that determine the performance of downstream separation processes, such as flotation, gravity separation and leaching etc the liberation characteristics are of primary importance.Current methods of evaluating liberation characteristics of ores such as the use of Mineral Liberation Analyzer (MLA) and QEMSCAN techniques are expensive and suffer from the drawback that these tests are performed on comminuted particles at a given grind size and/or samples of product streams. This problem could be overcome by developing predictive models of liberation that can predict the grade distribution of comminuted products at any grind size based on texture of the parent rock. This paper discusses a procedure that has been developed to predict liberation using information obtained from a sample of the parent rock such as drill core, based on Barbery’s liberation models. The required characteristic statistical functions have been evaluated from image analysis techniques using scanning electron microscope (SEM) images of the parent rock and narrowly sized comminuted particles. Such information can then be used in a predictive model to predict or explain the variability of metallurgical performance at various grind sizes used in future operating plants. The model will predict not only the valuable mineral liberation but also gangue liberation, which will be useful to those who are looking to remove liberated gangue from comminution circuits.CITATION:Subasinghe, G K N, and Dunne, R, 2016. Predictive Model of Mineral Liberation for Geometallurgical Applications, in Proceedings The Third AusIMM International Geometallurgy Conference (GeoMet) 2016, pp 347–350 (The Australasian Institute of Mining and Metallurgy: Melbourne)."

Jun 15, 2016

By D L. Kennedy

It has always been a challenge to accelerate the underground development progress by increasing the advance rate of each development round. Surveys have shown that most of the development rounds have only been pulled 84 per cent to 94 per cent of the drilled length. Where bare detonators have been used as primers, less advance rate is expected. In order to obtain a good understanding of the influence of priming upon the advance rate in underground development, a series of high energy primer trials has been conducted by Orica Explosives in the goldfields using various types of Orica high energy Anzomex « primers. It has been shown that development face has been pulled an extra 140 mm to 420 mm by priming with Anzomex « K primers compared with conventional primers. From all the trials at different sites, we have seen that the face pulled using K primers was more square than that pulled using conventional primers. Virtually, no butts and toe were left on the face developed using K primers. Computer simulation has been conducted using either a conventional primer, a bare detonator or a K primer as initiator. The study compared the predicted crack patterns developed around the toe of the hole and it was deducted that a detonator-initiated hole would leave a butt some 200 mm longer than that from a conventional primer-initiated hole, and a K primer-initiated blasthole would give rise to stronger initial p-wave, promoting crack development around the toe and increasing the ability to pull close to the full depth.

Jan 1, 1999

In most States of Australia it is a legislative requirement for underground mines to have a separate means of egress from the normal means of ingress to permit the safe evacuation of workers to the surface in event of an emergency. Such egress may be in the form of a ladderway equipped shaft/underlie or trafficable incline/decline. Additionally, there is a general requirement to have one or more airways, separate to the main shaft or other principal entrance of an underground mine, extending to the lowest level to permit ventilation to all parts of the mine. Fulfilling these requirement is difficult in the development phase of a mine when access underground is achievable by only a shaft or decline in the process by being sunk. What is frequently practiced in Australia is for production to then commence, sometimes in association with continuing development, in the same configuration without the establishment of this separate method of egress to the surface nor additional airway/s with reliance on refuge chambers to cater for back up in any emergency. Not only, could this jeopardise the health and safety of workers in case of an underground emergency it could be construed as a statutory breach of legislation. While recognising that refuge chambers are often used throughout underground operations nowadays their equipping and the criteria for their location needs to be bought into focus. This presentation discusses how such legislative requirement can be met alongside the use and appropriateness of refuge chambers.

Jan 1, 1998

By K Hooper

Over the past 20 to 30 years statistics as a science has grown in significance. Not a day passes without reference to the latest statistics by the print, audio and audio-visual media. The Northern Territory Government has been part of this growth and like other public and private sector organisations collects a broad range of statistics. The Northern Territory Department of Mines and Energy participates in the government's statistics collection process. Statistics collected and published by the Department of Mines and Energy include geoscientific; mining and exploration tenure; environmental (e.g. mine site waste water management); production of minerals, oil and gas; mining sector employment; and occupational health and safety. The importance of statistics collection to the Northern Territory Government is discussed in the paper.

Jan 1, 1994

By P J. Harris, C T. OÆConnor

Collectors are used to impart hydrophobicity on particles thus increasing their chances of reporting to the froth phase. Also, the extent to which naturally hydrophobic gangue particles, such as talcaceous minerals, report to the froth can be reduced by the use of depressants. Thus the use of collectors and depressants will directly influence the extent to which hydrophobic particles report to the froth. However these hydrophobic particles will also have a direct effect on the characteristics of the froth phase, more strongly hydrophobic particles causing a reduction in the stability of the froth with the expected concomitant effects on grade and recovery. This study included microflotation (ie frothless flotation) and batch flotation of various ores using a number of different collectors and depressants and a newly developed froth imaging device (SmartfrothTM). Flotation performance was characterised by mass and water recovery, and recoveries and grades of the valuables. This paper shows how the various reagents influenced the behaviour of the pulp and froth phases. The critical importance of managing the type and dosage of reagents used in flotation with a view to optimising their influence on the froth phase is discussed.

Jan 1, 2005

By R L. Verburg, R Johnstone

DeBeers Canada Mining Inc (DeBeers) recently submitted an Environmental Assessment (EA) for its proposed Snap Lake Diamond Mine located in Northwest Territories, Canada. As part of the EA process, a site water quality management plan must be developed. Plan development requires an integrated approach such that the key factors influencing water quality can be identified and managed to minimise potential impact. A system model was therefore developed to simulate the site-wide water quality conditions and mass loadings to the principal environmental receptor of concern, Snap Lake, during operations and post-closure. Requirements of the simulation included integrating hydrology, geochemistry, hydrogeology and site management practices in a dynamic way. A unique feature of the site was the need to accommodate a complex flow system that included a feedback loop between lake water and mine water. A system model was constructed using the GoldSim software package that integrated on-site water quality and flow measurements, as well as results from independent groundwater flow and geochemical modelling efforts. The GoldSim model simulated concurrently the movement of 39 solutes through the subsurface mine and surface facilities. Solute sources considered included four different waste rock and tailings types, explosives use in the mine, treatment plant discharge, and recycled process water for dust suppression. Separate solubility constraints were identified for different regions of the flow system (eg underground mine; treatment facility; surface water bodies). Kinetic test data were used to derive temperature-dependent rate constants for use in calculating mass inputs from surface sources such as waste rock piles. The model generated water quality estimates over time for a variety of management scenarios at several potential discharge locations. The integrated approach used by the model was effective in identifying the significance of key factors influencing overall water quality such as explosives use, mine water inflow rates, waste rock reaction rates, site/mine management options, and effectiveness of treatment. The model provides an example of an effective tool for comprehensive, integrated system evaluation and management.

Jan 1, 2003