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By M Bird, B Oats, M Sganzerla

Mining operations are continually aiming to reduce operating costs to improve plant profitability. One way in which the Cannington operation sought to achieve this was by increasing the wear life and reducing the energy consumption of their flotation mechanisms. This was made possible using Outotec’s FloatForce mechanism. The FloatForce mechanism has been developed by Outotec over a six year period involving both CFD modelling and rigorous site testing. FloatForce delivers improved air dispersion and cell agitation efficiency; as such it can be operated at lower rotor tip speeds when compared to Outotec’s previous mechanism.Cannington trialled three FloatForce mechanisms in a train of ten OK38 zinc roughers. The mechanisms’ rotational speed was reduced by 10% compared to the previously installed MultiMix mechanisms. The purpose of the trial was to quantify the energy saving and assess whether there was any reduction in plant metallurgical performance.The trial was successful with FloatForce delivering a 17% reduction in power, an improvement in wear and improved recovery. Analysis of pre and post-installation metallurgical accounting data showed the following:The FloatForce installation resulted in a recovery increase of zinc to zinc final concentrate of 0.4 – 4.0%*The FloatForce installation resulted in a recovery increase of lead to zinc final concentrate of 0.0 – 0.3%*There was no statistically significant change in silver recovery to zinc final concentrate that can be attributed to FloatForce**95% confidence interval (CI) using multiple linear regression models.The Cannington operation is now in the process of further optimizing its power consumption and wear savings by changing the remaining OK38 zinc and lead rougher float cells to FloatForce mechanisms.CITATION:Bird, M, Oats, B and Sganzerla, M, 2015. Improvements in flotation cell maintenance, power consumption and operation at South32 Cannington, in Proceedings MetPlant 2015, pp 230–245 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Sep 7, 2015

By G J. A Dewar

The Australian Corporations Law generally requires Independent Expert Reports to be presented in support of capital raising or in defence of mergers and takeovers. The introduction of the VALMIN Code in 1995 (and its recent revision issued as the VALMIN Code, 1998) made Assessment and Valuation Reports in these circumstances much more comprehensible than before because of its key requirements for transparency and materiality. By forcing the Independent Valuer to provide an explanation of the reasoning behind the estimation of a particular resource asset, VALMIN allows the reader to clearly see any error or illogicality in the valuation methodology used and to seriously question or even reject the resulting value. Even though many elements of resource asset valuation practice are undeniably subjective, there must be some basis of objective rationality to it. Independent resource asset Valuers are the essential link between mineral explorers/miners on the one hand and brokers/analysts/fund managers/investors on the other. The minerals and financial industries both expect them to not use inappropriate or invalid valuation methods and illogical steps within these methods. This paper examines some of the less sensible ways in which some of the main techniques that Valuers commonly use to assess the fair market value of mineral properties have been applied in recent instances. The authors hope to discourage the adoption or perpetration of the æWhat-number-did-you-have-in-mind?' approach. It is MINVALÆs view that as many methods as possible should be used in any resource asset valuation. If any of the resulting estimates are in approximate agreement (particularly if they were derived using the less subjective of the available methods), ie if they cluster, they are probably more persuasive as being the Preferred Value of the asset than outlier values within the Valuation Range.

Jan 1, 1999

The work described herein is the opening phase of an extensive system of underground excavation undertaken under contract with a Malayan authority.The specifications called for the lining of all tunnels in earth or broken rock with circular segmented cast iron lining, similar to that of the London tubes, and it is the installation of these linings which it is proposed to discuss.Owing to the long deferred delivery quoted and the obvious need for speed of access to the internal installation, it was decided to defer driving the completed circular section and substitute two small timbered headings.These could later be opened out in turn to full section and lined without prejudice to traffic, since both of them had access to the internal workings.NATURE OF ROCKThe rock series through which the circular sections were driven consisted of:(a) A wide zone of intrusive porphyritic granite, consisting generally of orthoclase phenocrysts in a ground mass of micro pegmatite. This area showed advanced weathering, varying from a stage showing slightly tinted kaolin containing approximately 20% of small boulders to one of ultimate decomposition to pure kaolin;(b) A narrow zone of weathered augite diorite, consisting of rock masses of a maximum weight of some 100-150 tons, isolated by clay seams up to 1 ft. 6 in. in width.The whole area was in a state of quasi-hydrostatic equilibrium, which resulted in heavy pressure immediately after excavation. Freshly broken faces would appear to be quite solid but, within a few minutes, would commence to sweat and "slab off" under pressure and, unless support was placed promptly, the whole face would burst out and run from above. Mucking was slow, owing to the plastic nature of the clay and the ease with which it puddled into slurry.In zone (b) a good deal of trouble was experienced because of the fact that the somewhat heavy blasting necessary tended to cause movement of the large rock masses. Subsequent scouring out of the supporting clay bands by the waterflow permitted settlement of the ground on to the timbers and many reinforcing sets were therefore required.The timbering of the pilot headings and its relation to the cross-section of the circular tunnels is shown in Fig. 1. Top and side spiling was driven in the ordinary way, but in bad ground intermediate sets and breast boards had to be placed. These sets were usually withdrawn after the...

Jan 1, 1941

The emergence of China as a global economic power has not been without its birth pangs and the current coal market is testimony to this. Traditionally the coal market has been controlled by mature economies that functioned along balanced lines of supply and demand. The emergence of China and India as major forces in the international market has shifted this balance of power from mature economies to the developing economies of China and India. Of late Chinese Central Government policy has caused wide swings in the supply of Chinese coking coal and thermal coal to the international Asian markets. This has resulted in huge increases in demand for coal from producers in Australia, Canada, Indonesia, USA and Russia. Additionally since the late 1990s the liberalised Chinese economy has been growing by between nine to 12 per cent per annum. The corresponding rise in the standard of living of their 1.4 billion people has resulted in a strong demand for raw materials, initially met by domestic production and more recently met by the importation of raw materials including iron ore, oil, coking coal and thermal coal. Commensurate with this growth in China has been the emergence of India (pop one billion) as another major developing economy in the region. Whilst the Indian standard of living is lower than that of the Chinese, this subcontinent still has some 300 million people with middle class consumption demands. India is a major importer of oil, coking coal and thermal coal. It exports iron ore to China with growth parallel to China (seven to nine per cent per annum). These combined new demands from India and China have put unprecedented pressure on the global supply of coking and thermal coals. These pressures are reflected in the current world spot prices for coking and thermal coals which are at historically high levels. Whilst current demand from China and India is high it is anticipated that new projects will partially satisfy this increasing demand. Expectations are that overall thermal and coking coal prices will rise steadily. This paper seeks to identify the potential effects of Chinese and Indian economic growth on the international markets for coal.

Jan 1, 2004

For the purposes of this discussion it is assumed that contributors should express the thoughts that arise from their personal experience. So wide is the range of mineral deposits, and so varied the methods employed in their discovery and development, that no two geologists are likely to have been impressed with the same applications of their science. The author's own personal experience has been, during recent years at least, very largely concerned with the broader aspects of the employment of scientific method and geological knowledge to the problems of exploration and exploitation, for the guidance of the general public and governmental authority rather than of mine executives and directors. The view-point thus reached is likely to differ in many respects from that of men who are much more intimately concerned with the mining problems of a single metal or a single mining field, and for this reason a statement may perhaps supplement those from others whose experience has been markedly different.It may well happen that, at some not distant date in the future, when systematic and comprehensive instruction in economic geology is embodied in the courses- prescribed for mining engineers during their years of training, the author's comments will be quitesuperfluous; but at the present time they appear to him to call for expression.The Need for Training of Mining Men in Economic Geology.Contact over a period of many years with mining men who have had different kinds of training and experience has been convincing that there is a general reluctance to acquire a full rational understanding of the geological factors involved in exploratory and developmental problems. The correction of this attitude is regarded as vital to the industry and it is necessary to insist that the outstanding requirement of the present day is the utilization of all branches of geological, investigation in the field and the laboratoryby men who have had systematic and specialized training in these matters. The science of geology is many-sided, but is, nevertheless, whole and essentially indivisible. No one can afford to disregard any fraction of its content 'or any of its methods of investigation.The greatest advances have been made in the understarnding of the occurrence of mineral deposits by those whose knowledge Qfbasal principles, has been soundest, whose endeavour has been to ascertain all their relationships in space and time, whose attention to detail of all kinds has been keenest, and at the same time, whose capability to distinguish between major and minor features has been most marked.With the passage of the years and the accumulation of data from many lands, it has been possible to build up a great body of information regarding the primary deposition and secondary alteration of mineral occurrences, which is of the utmost value in guiding thesearch for new deposits to take the place of those that become exhausted. This heritage is due not only to the efforts of gifted in...

Jan 1, 1950

By C Li, D O’Dea, R Moreno-Atanasio, T Honeyands

The behaviour of iron ore granules in the feeding process of sintering is significantly influenced by the material properties of the granulated mix. Therefore, the measurement of key material properties of the iron ore granulated mix is indispensable prior to the simulation of the sintering process based on the discrete element method (DEM). In this paper, three key property parameters of the iron ore granulated mix, apparent density, elastic modulus and rolling friction coefficient, were measured in laboratory-scale experiments. For different sintering processes, the moisture content of the granulated mix normally varies according to the specific requirements for granule size distribution and operating conditions. Therefore, understanding the effect of moisture content on the property parameters of iron ore granules is very helpful in accurately determining the property parameters for DEM simulation work. In this paper, six groups of iron ore granule samples with six levels of moisture contents were prepared through granulation and the trends in apparent density, elastic modulus and rolling friction coefficient with the increase of moisture content were plotted and analysed based on the measurement results. The results show that as moisture increases from 6.9 per cent to 9.1 per cent, the apparent density decreases from about 3000 to 2800 kg/m3. With moisture increasing within the same range, the elastic modulus first decreases from over 200 MPa to below 100 MPa and then reaches a relative constant value of about 40 MPa at higher moisture contents. Rolling friction coefficients are measured using two methods with both indicating a similar trend, with the rolling friction coefficient first decreasing and then rising as moisture increases from 6.9 per cent to 9.1 per cent. The relationship between µr and µ’r is assumed to be similar to that between static and dynamic friction coefficients.CITATION:Li, C, Moreno-Atanasio, R, O’Dea, D and Honeyands, T, 2017. Variation in property parameters of iron ore granulated mix with moisture content, in Proceedings Iron Ore 2017, pp 79–84 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Jul 24, 2017

By Kelly E. G

NZ Steel's flushing slag typically contains 1.2 per cent V203. Extraction of vanadium from powdered slag using a salt (NaCI or Na2CO3) roast/leach process was investigated. With NaCl, optimum extraction conditions were a charge containing 10 per cent NaCI, roasting in air at 875°C for 4 hours, followed by leaching in dilute H2SO4. Extractions were typically 30-50 per cent. NaCI roasting did not chemically attack the slag; the phase transformations that occurred were due to high temperature oxidation. Slag particle size had a significant effect on extraction.Optimum conditions for extracting vanadium by Na2C03 roasting were 20 per cent Na2CO3 in the charge and roasting in air for 3-4 hours at 850-875°C followed by water leaching.Na2CO3 roasting involved chemical attack that resulted in the formation of perovskite (CaTiO3) and carnegieite (NaAISiO4).The extent of vanadium extraction depended on the amount of Na2CO3 added and the original slag SiO2 content.Compared to the separate roasting treatments, simultaneous treatment with NaCI and Na2CO3 gave lower vanadium extraction, while requiring considerably higher roasting times and temperatures.

Jan 1, 1982

Possibilities and Working of the Specific Agglomeration of Fibrous Materials and Residues Plant based fibrous materials are becoming of increasing interest in a multitude of industrial applications. Main advantages are the specific lower energy demand and virtually closed CO2 cycle, excellent mechanical properties based on low density as well as a high level of recyclables. In contrast, processing and handling of such materials is associated with a number of challenges. These challenges are mainly related to specific morphological characteristics in correlation to fibre length and structure (branching and splices). Specific problems in further processing steps including transport, dosage or storage for natural fibre compounding, result from form-locking bonds leading to burling, clusters or plaits. Technologies of fibre processing are well known, but other than textile based technologies they generally result in intermediate goods which do not allow direct industrial application. The investigation to be presented is based on results of recent research activities and shows two possible technical solutions of innovative fibre agglomeration procedures. These methods allow the conversion of middle to long fibres into a form, which eases further processing and dosage significantly and therefore allows free flowing too. The procedures are based on the working principles of rolling and winding technology. Within the work, both of the patented methods and their respected lab-scaled devices will be described. Further, results will be shown for an up-scaled rolling agglomeration unit applying the developed principle and consisting of multiple process zones. Possible variations of the resulting product characteristics and the impact of different process parameters will be discussed based on the trials with natural fibre (hemp and flax) agglomeration. As a main outcome of the research, product qualities can be supplied according to the requirements of the specific application in correlation to agglomerate strength, porosity or form. In conclusion, recent developments for specific methods of characterization will be depicted.

Sep 13, 2010

Stope back conditions in the cut-and-fill stopes at New Broken Hill Consolidated Limited often deteriorate to such an extent that, because conventional rockbolts are not able to maintain safe working conditions, square-set timber is installed. An attempt to eliminate this costly procedure has involved the use of long grouted rockbolts using high tensile prestressing wire. These bolts were developed in conjunction with the prestressing engineers of BBR (Aust.). This form of support has improved the back conditions, maintained safe working conditions, and delayed the introduction of timber in a number of stopes.Production from these stopes has been maintained at its previous level (at a rate approximately double that of a comparable timber stope).

Jan 1, 1974

By K Nilsson, D Connelly

Troy Resources acquired the Karouni Gold Project in Guyana, South America in 2014 and immediately proceeded to a Pre-Feasibility Study and project implementation. The study considered two open pit mines feeding a conventional carbon in leach (CIL) gold plant with a capacity of 1Mtpa. The study assumed a total of 2.61 million tonnes of ore with an average grade of 3.84 g/t gold with a recovered gold production of 303,526 ounces over a three year mine life.The project development involved drilling metallurgical test holes, securing second-hand major pieces of equipment where suitable, and arranging shipping to Guyana. The remote location meant logistical considerations were paramount. The plant consists of conventional two-stage crushing with single stage ball milling and a gravity circuit. The tailings circuit includes DETOX.The extremely high rainfall presented challenges with water management and the necessity to dispose of clean water to the environment. The DETOX was also mandatory due to the highly sensitive environment and past history in the area. The criticality of this meant that in the design, any cyanide in the tailings would precipitate in a plant shutdown.Lessons were learned and the project has been both profitable and successful for Troy Resources in a new operating location. In addition, the project has created jobs, delivered royalties and brought new skills into an area where previously there was little current mining activity.CITATION:Nilsson, K and Connelly, D, 2015. Karouni Gold Project from drill core to commissioning, in Proceedings MetPlant 2015, pp 197–206 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Sep 7, 2015

Geological maps, data, and prospectivity analysis relevant to mineral exploration in New Zealand have recently been released. Regional-scale geological mapping is increasingly available for the country through the QMAP 1:250 000 Geological Map of New Zealand programme. Published QMAP sheets Greymouth, Wakatipu, Waitaki and Dunedin cover large areas of interest for mineral exploration companies. The QMAP geological data are also available in digital form for use with other digital datasets using GIS software. Crown Minerals, in cooperation with GNS, have completed two gold prospectivity studies; the first covering mesothermal gold in the South Island, and the second encompassing epithermal gold in northern New Zealand. These studies have defined areas of interest for these two mineralisation types and assembled geological, mineral occurrence and production, geochemical, geophysical, topographic and cultural data into projects for use with GIS software. Included are the results of prospectivity modeling for gold using these data and specific mineralisation models. The prospectivity studies and relevant data are freely available on CD through Crown Minerals and are intended to encourage mineral exploration in New Zealand.

Jan 1, 2003

Permian coal seams from the Tomago Coal Measures in the Northern Coalfield, New South Wales, were analysed petrographically and reflectance measurements made for each. Vitrite contents were moderate to high for most of the coals but for two they were very low.The mineral-matter contents were low to moderate by Australian standards. Different profiles of a particular seam could be correlated by petrographic methods.Standard seam profiles were drawn up and from these an idealized Tomago seam sequence was compiled. All the coals were of high-volatile bituminous rank. Their carbon contents, but not thcir reflectances, varied significantly with the quantity of vitrinite present.

Jan 1, 1968

By P Fullagar

Automated multi-sensor core loggers (MSCL) measure petrophysical properties of diamond drill cores, including gamma density, P-wave velocity, electrical conductivity and magnetic susceptibility. A Geotek MSCL system has been used to record petrophysical data on archival drill core from Cadia East Au-Cu porphyry deposit, New South Wales, Australia, for correlation with metallurgical parameters. P-wave modulus, calculated from density and P-wave velocity, exhibits a correlation with small-scale crushability (A*b) test results, and hence offers a means for æcontinuousÆ characterisation of ore crushability at Cadia East. Magnetic susceptibility has proved to be a good indicator of alteration styles, and is a possible indicator of crushability.

Jan 1, 2009

Before presenting this address I desire to express my appreciation of the honour which has been conferred on me by my election as iPresident of The Australasian Institute of Mining and Metallurgy. At this stage it might not be out of place to recall that Broken Hill was the birthplace of The Australasian Institute of Mining and Metallurgy, originally formed as the Australasian Institute of Mining Engineers in 1893.In selecting for my address the topic of "The Broken Hill Mining Industry and its Contribution to the Economy of Australia" I realise it is impossible to cover fully every aspect of the nation's economy which owes all or part of its origin to the Broken Hill field. Nevertheless, I feel that some attempt should be made to give credit to the Broken Hill mining industry for its part in the progress which Australia has made over the past seventy years.. If we care to reflect for a moment it soon becomes apparent that, not only is the Broken Hill mining industry an important producer of base metals for domestic and overseas consumption, but its profits have provided the means whereby many of Australia's leading secondary industries have been established or built up. Examples which come to mind are the founding of the iron and steel industry by the Broken Hill Proprietary Company; the establishment of plants at Port Pirie in South Australia, and at Risdon in Tasmania, for the production of metallic lead and zinc; and also at Port Kembla for the smelting of copper ores. From profits derived from operations at Broken Hill, capital has also been provided to assist other new essential...

Jan 1, 1956

By B S. Utting, W J. Cowie

The alluvial gold industry of New Zealand is based on the placer deposits in Otago and on the West Coast. Production from these since discovery in the 1850s has been an estimated 480 t (15 Moz) of gold. Annual output has expanded continuously since 1980 and is expected to be over 2 t of gold for 1989. Following a historical review, the characteristics of typical operations, which use hydraulic excavators and mobile trommel units are discussed. Descriptions are then given of alluvial activities in Otago and on the West Coast.

Jan 1, 1990

Using DEM to Model Industrial Banana Screens

Sep 13, 2010

By P Cameron

MetPlant conferences have focused on ensuring mining projects are well designed then optimised to operate safely and effectively at the top end of world’s best practice to ensure shareholders are not just happy but delighted. This assumes the MetPlant was built right the first time. However, reality is, too often Plant Metallurgists (PlantMets) find after commissioning they are faced with the expensive task of correcting errors or modifying shortcomings to achieve product quality at name-plate capacity, i.e. get it right the second time. Why do companies spend good money to engineer an excellent feasibility study then allow “wise men” remote from the project team to impose cuts in budget and schedule, often under the guise of value engineering? Since mining is full of uncertainties, such actions can increase the risks of failure with the result that some MetPlants do not work well. Can PlantMets influence the remote wise men who often are also imposing the rules for lending and the required returns to appreciate the uncertainties of mining and their associated risks then let the project team get it right the first time? PlantMets can negotiate with the wise men from the outset of the project and bring them into an outer layer of the team where they can understand the risks then share responsibility and accountability to achieve the common goal of building a MetPlant which works well the first time and deliver the forecast profits. Since shareholders are not in the business to make losses they appoint a Board of Directors to deliver the best outcomes for the shareholders. Thus the Board should seek effective advice on the risk reward implications from the PlantMet before making their decisions.CITATION:Cameron, P, 2015. Do all metplants work well? PlantMets can ensure they do, in Proceedings MetPlant 2015, pp 2–9 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Sep 7, 2015

The Calypso geothermal field, mapped by the R V Sonne (cruise SO-135) in 1998, includes four main sites, the Northern Vent Area (centred on 37¦ 36.7'S, 177¦ 06.2'E, area 1.5 km2), Central Vent Area (37¦ 39.4'S, 177¦ 05.2'E, 1 km2), Southern Vent Area (37¦ 41.7'S, 177¦ 06.0'E, 1 km2) and Mercury Vent Area (37¦ 41.3'S, 177¦ 07.3 'E, 0.5 km2). Hydrothermal activity at the vent sites is controlled by minor, sub-parallel NE-trending normal faults. Gas bubble trails (C02) and shimmering hot water vent from fractures and joints between large blocks of silicified volcaniclastics and in depressions in the sediments at the base of these outcrops. Measured maximum vent temperatures are between 180¦C and 201¦C. Venting fluids are at, or just below, boiling for water depths of 200 m. Rock samples recovered by dredge from the sites include massive anhydrite, clay-altered pumiceous ash, silicified volcaniclastic sediments and volcaniclastic breccias cemented by sulphur. Clay-altered samples, dominated by randomly interstratified illite-smectite and accessory chlorite, indicate formation environments of 70¦C to 90 ¦C. Native sulphur is abundant throughout the samples. Fine-grained (<1 mm) disseminated pyrite and vein pyrite occurs in the clay-altered pumiceous volcaniclastics and argillites. In the Southern and Mercury Vent Areas, fine-grained orpiment, realgar and cinnabar have deposited in the sandy matrix of volcaniclastic breccias. Amongst the cinnabar, small (<2 mm) beads of native Hg formed on the surface of several rocks following their recovery. These samples also contained abundant light hydrocarbons, which coat the rocks with an oily sheen.

Jan 1, 1999

By B E. Hall, J Poniewierski, A J. Hills

Following a review of life-of-asset work at MMG’s Rosebery mine in which a proposal to increase production from 0.8 Mt/a to 1.2 Mt/a was mooted, questions were raised as to the seemingly arbitrary reasoning for the production increase. They included: Did the proposal actually add value? Was the production rate from the mine sustainable? Was it the best identifiable value-adding configuration?A multiple scenario analysis study commenced to model how various cut-off grade values against mill throughput, along with associated capital expenditure, would impact on the potential value of the operation. This was carried out utilising the ‘hill of value’ approach promoted by AMC Consultants.The traditional approach to these studies uses a constant cut-off value (NSR – net smelter return) for the whole mine analysis. This was thought to potentially introduce a large amount of variability to the model as different ore types were thought to have different processing costs and different underground lenses were thought to have different mining costs. With the aim of developing a consistent value measure that would be comparable between the lenses, an alternative measure was suggested for all ore block values in this model, irrespective of lens location.The new measure used was a mine variable value (MVV). This allowed for the variable factors of final metal concentrate production to be removed from the ore value. From a mining point this was the haulage distance from ore source to run-of-mine (ROM). For the mill it was the amount of reagents required, varying based on grade together with the amount of power required for crushing, grinding and tailings handling.From the initial run of the model, preliminary results lead to a conclusion of increased value being gained by either increasing cut-off grade or increased mill throughput rate. The validity of the result was tested using alternative price scenarios, which although changed the absolute value achieved did not significantly change the identified value-adding strategies. The realisation of these value increases identified are however contingent on higher sustainable development rates being able to be achieved mine-wide, higher backfilling rates being able to be achieved and overcoming recognised ventilation constraints. Further detailed studies are being put in place to identify the practicality of overcoming these recognised constraints and achieving the higher-value strategies identified.The ongoing objective of the hill of value model built is to keep the model alive as a life-of-asset planning tool and to continue refining the foundation data, such that various mining strategies can be analysed with increased confidence.CITATION:Hills, A J, Hall, B E and Poniewierski, J, 2014. Mining scenario analysis and mine variable value, in Proceedings 12th AusIMM Underground Operators’ Conference 2014 , pp 111–118 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Mar 24, 2014

Mining ventures are essentially risky businesses. Explorers and project developers (plus their investors and financiers) attempt to minimise the risks involved or at least manage them. Core considerations are the obvious technical and commercial risks, but the socio-political system and regulatory environment in which the project will operate can be more important. Successful mineral investments in a country depend upon obtaining realistic and reliable technical results in a country that provides certainty, to gain and maintain investor confidence in a project. Brief commentary is provided on the usefulness of professional accreditation and ethics plus other specific reporting codes (eg JORC/VALMIN Codes) in reducing risks by reinforcing high technical competence and reputable individual professional behaviour (particularly in the context of currently perceived high corruption levels in so many countries). These various risk components are reviewed, especially in a global context, to showcase New ZealandÆs current position. Successful projects are those which provide investors with credible and reliable optimal results in less volatile environments because investors/lenders hate uncertainty and surprises even more.

Jan 1, 2005