Search Documents

By J. W. Joubert, R. C. W. Webber-Youngman, M. D. Budeba

"SynopsisCost estimation for surface coal mines is a critical practice that affects both profitability and competitiveness. New mines require these costs to be estimated using available information before a project begins. The competitive advantage of a new mine depends on it being both efficient and cost-effective. Low-cost producing mines have a higher chance of survival in a low-price environment than do high-cost producers. The competitiveness and profitability of a coal mine is based on the costs of production and the supply position on the cost curve. There is no single method of cost estimation, and the available methods consider only one or a few variables, leaving out multiple variables that could significantly affect the estimation of mine costs. Mining companies are thus searching extensively for a method that will increase accuracy in the estimation and evaluation of mining projectsThis paper highlights the shortcomings of the available approaches and proposes a data envelopment analysis method to develop a frontier for effective surface coal mines, and the use of a parametric method for modelling the costs and productivity of new mines to ensure effective competitiveness. The models will extend the capability of estimation and the accuracy of estimates using the efficient decision-making units, by considering the optimal mine-specific and external variables affecting costs.IntroductionCoal contributes 25% of the world’s primary energy needs, after fuel oil, which contributes 35%. The world energy demand, estimated over the period 1990 to 2030, is expanding at a cumulative annual growth rate (CAGR) of 1.7% (Schernikau, 2010, p. 14). This emphasizes the need for enhancing the production of existing mines, as well as opening new mines in order to increase the supply of coal."

Jan 1, 2015

By J. Chai, H. H. Sedarat, Gary J. E. Kramer, A. Kozak

Precast concrete segmental lining systems have been gaining widespread use in seismically active areas and a single-pass version of such a system has been developed for use on the Silicon Valley Rapid Transit (SVRT) Project in San Jose, California. The response of tunnel linings to seismic shaking is often predicted using engineering judgment, elastic closed-form solutions and numerical modeling. Such analyses generally assume a continuous structural system and hence do not explicitly model the behavior of the jointed segmental lining. A number of analyses were performed to predict radial and circumferential joint behavior during seismic ovaling and wave propagation. These analyses included a complex, three-dimensional finite element based ground-structure interaction model that incorporates inelastic constitutive soil behavior, cracked concrete properties and no-tension, frictional segment joint surfaces. The paper discusses the results of the analyses and provides guidelines for the design of precast systems in zones of high seismicity.

Jan 1, 2007

I have chosen this subject in view of the fact that, while there are many and ample opportuuities of getting reliable assays made, there are but few who are in a position to obtain reliable data on the sampling of minerals and metals my long experience at Port Pirie, where, for five years, I had charge of the Refining and Sampling Mill, showed me how important it was that a correct sample should be taken.Weighing; This, to the ordinary layman, seems so simple that no expert knowledge is needed, but in actual practice there are hundreds of pounds to be lost by the lack of knowledge in this department.(1.) There is the matter of weighing in large or small quantities.(2.) The class of weighing machine used.(3.) The accuracy of weights used.We all know that, say, 1000 tons of ore cannot be weighed in one parcel; but the fewer the weighings the less loss to the seller (and usually wishes it weighed in small lots carefully) for it is a well known fact that the most sensitive scales take a certain weight to show distinctly the indication of the balance, or, in other words, what is known as "the pull of the scales." As for instance, 1000 tons weighed in lots of 1 c. each, taking the pull of the scale as being equal to 1 lb., would give a result of 9 tons loss to tbe seller, and as most of the ore sent to Customs works is worth 5. -£20 per ton-this would mean £180 loss to the careful man.

Jan 1, 1901

Sulfidisation Promotion Effect of Ammonium Sulfate on the Flotation of Copper Oxide Ores

Sep 13, 2010

By R. S. Dean

"Interest in the nitrogen content of steel has increased sharply in the last few years. Investigations have indicated that its presence in steel has an important bearing on high temperature brittleness3, magnetic properties4, room temperature hardening5, and shock resistance. The steel producer may therefore look forward with certaintly to the necessity of controlling this element in a considerable proportion of his product. The literature, however, reveals a great many contradictory statements concerning the percentage of nitrogen which must be present to produce given effects on the properties of iron and steel. Most of these arise from a misunderstanding of the nature of the iron-nitrogen diagram near the iron end and a lack of recognition of the effect of state of aggregation on physical properties although both have been fairly well worked out.My thanks are due to Mr. J. L. Gregg, Prof. R. H. Dowdell, Mr, R. F. Mehl and Mr. H. C. Vacher for suggestions in connection with the preparation of this paper, and to Mr. C. H. Hefty and Mr. G. T. Motok for furnishing a valuable bibliography and translations of articles by Must and Duhr.The iron-nitrogen diagram in the solid state, so far as it concerns the nitrogen content of commercial iron and steel, consists simply in a solubility curve increasing with temperature. The important thing about this solubility curve is that without cold wore the iron nitride when precipitated does not go into solution on heating for long periods below 300°C. This slowness of solution is probably due to the fact that iron nitride when present as a separate phase has at these temperatures an equilibrium pressure of several thousand atmospheres7 and that therefore each particle of iron nitride surrounds itself with a layer of nitrogen. The precipitation of such an unstable crystal presents points of interest thermodynamically but we can not go into these here. It is quite well established that it precipitate. It can not diffuse then unless this layer is broken through or the temperature and pressure are increased to a point where the nitrogen is absorbed at an appreciable rate in the surrounding iron. This rate will depend on the degree of unsaturation of the iron and the excess pressure of the nitrogen above equilibrium pressure. The degree of unsaturation is determined by the temperature alone so that the temperature at which the rate of solution of the nitride becomes appreciable will depend on the pressure of nitrogen developed. This, in turn, will depend on the balance between rate of decomposition of the nitride and the rate o: flow of the iron. In annealed iron, this temperature of appreciable solution rate is between 300 and 350°C.8 By cold work, however, the elastic limit of the iron is increased, and conditions for the nitride to go into solution are reached at a much lower temperature, giving rise to the so-called blue brittleness. This brittleness and hardening is due to iron nitride going into solid solution and is not precipitation hardening."

Mar 1, 1931

By J. Jeffrey Wagner, Michael J. Bailey, Peter M. Douglass

The Chambers Creek Interceptor Sewer Tunnel project consisted of 2-1/2 miles (4 kilometres) of nominal 9-foot (2.7-metre) O.D. tunnel driven through predominantly glacially overridden soils. Mole-Collucio Construction Company initially elected to drive the entire tunnel with a Lovat TBM. However, this machine could not control the fast raveling ground conditions which developed when the TBM encountered sands overlying very dense, hard glacial till or boulders. As a result, a shield and digger machine was brought in for a 1700-foot (518-metre) long segment. Pumped wells spaced roughly 50 to 125 feet (15 to 38 metres) apart were utilized to dewater about two-thirds of the alignment during construction. Initial support consisted of steel ribs and wood lagging, with a final lining comprised of pre-cast concrete pipe segments grouted in place.

Jan 1, 1985

As in other countries, gold mining inNew Zealand has been cyclic in character. Looking at these cycles may provide insights as to what may occur in the future and that is the basis for this study.   New Zealand has experienced four gold mining cycles. The first began in 1857, peaked in 1866 and terminated in 1890. This cycle was characterised by alluvial gold mining by individuals and small groups. This is referred to as the Labour Led cycle. The second cycle began in 1890 and reached its peak in 1906 and terminated in 1929. This cycle was characterised by the use of dredges in alluvial gold mining and was also the peak of hard rock mining. This cycle is referred to as the Technology Led Cycle. The third cycle peaked in 1940. This cycle was far less significant than the previous cycles, arising out of the depression when the unemployed embarked on small scale alluvial mining. This overprinted the continuing decline that occurred after 1906. This cycle is here referred to as the Depression Overprint Cycle.   The fourth cycle began in 1984 when production began to climb rapidly from a very low base. The growth in production was spurred by rising gold prices in the early 1980s resulting in relatively low grade gold-bearing alluvial ground becoming economic. But in the 1990s, production from the new hardrock mines in Coromandel and Otago has overshadowed alluvial production. This cycle is here referred to as the Price Led cycle.   What are the future prospects for gold in New Zealand? Although there are many factors involved, this will be largely determined by two factors; firstly, continued access to prospective gold-bearing properties, and secondly, the price of gold. Based on these factors, three future industry scenarios have been developed. The first of these is industry collapse, in which access to prospective property is constrained and prices mayor may not weaken. The second is industry consolidation, in which the available ground is accumulated by a small number of large companies who can use economies of scale to weather price fluctuations. The third scenario is industry growth, in which access to prospective ground is constrained in environmentally sensitive areas but is otherwise relatively unconstrained. Efficient companies are allowed to work in a policy and economic framework that allows them to make a major contribution to the economy.   While the industry cannot control these critical factors, a good knowledge of the positive role gold mining could play in the future economy may provide a framework by which the access issue, in particular, may be addressed from a balanced perspective.

Jan 1, 1994

Generating short- and long-term mine production schedules in isolation and independently from each other means that only a local optimum can be achieved when each scheduling phase is carried out. The globally optimal solution however, can be achieved when integrating scheduling phases and accounting for the interaction between short-term and long-term activities simultaneously. This paper addresses the task of integrating short- and long-term production plans by combining the short-term objective of minimising deviation to targeted mill feed grade with the long-term objective of maximising net present value (NPV) into a single mathematical model. A case study is presented which compares the present values of the same stope data set scheduled via separate long and short-term models and than by the proposed integrated model which applies a predetermined penalty for each tonne of metal deviation to target for the respective ore tonnage being processed. This allows an operation to obtain a globally optimal scheduling regime when taking into consideration the cost and loss of value resulting from fluctuations in grade to the mill over the short-term.

Dec 6, 2010

By R. Dippenaar

Traditionally, iron ore has been reduced with coke in a blast furnace and the hot-metal product of the blast furnace containing carbon, manganese, silicon, sulphur and phosphorous, was subsequently refined in a steelmaking furnace. During iron making as well as during steelmaking, significant amounts of slag are produced. Two decades ago, more than 13 m tonne of blast furnace slag and 4 m tonne of steelmaking slag per annum were produced in the USA alone. It is, therefore, not surprising that many attempts have been made to re-use iron and steelmaking slags. However, these slags are not merely metallurgical waste products but, on the contrary, their compositions and physical properties are judiciously designed to optimize the operations in the respective metallurgical reactors. The variation in composition and properties of blast furnaces lags are largely determined by the gangue in the ore and ash in the coke and much progress has been made in the re-use of such slag. With respect to steelmaking slag, emphasis has in recent years been placed on hot-metal treatment before refining and ladle treatment after decarburization. The bulk removal of silicon, phosphorous and sulphur from the hot-metal product of the blast furnace by specially designed slags prior to refining in a basic oxygen furnace, has reduced tap-to-tap time, lowered cost and produced steel of much higher quality. The use of synthetic slags in ladle refining techniques subsequent to decarburization in the basic oxygen furnace has resulted in reduced hydrogen and nitrogen contents and reduced solute impurities. Moreover, inclusion shape and composition control, again by the use of specially designed slags has led to the achievement of much improved mechanical properties of the steel. In these revised process routes, slag of different compositions are produced in the variety of unit processes and hence the re-use of steelmaking slags has become much more complex. Clearly, a thorough understanding of the design and use of these different slags is a pre-requisite to the development of re-use strategies. Japanese steelmakers have spearheaded attempts to reduce slag volumes in the individual unit processes and to strive towards ‘slagless steelmaking’ by recycling slags internally. Steelmaking slag volumes have been reduced on commercial scale from about 140 kg/tonne steel to 60kg/tonne steel. Moreover, model predictions have shown that, in principle, all slag can be recycled and the phosphorous extracted to produce fertilizer. This development is of particular significance since the supply of low-phosphorous iron ores is diminishing at an ever increasing rate. Keywords: slag, environment, iron, steel,

Jan 1, 2004

By AIME

Burton J. Westman-Besides decreasing the diamond size, there appear to be two other approaches open to overcome excessive diamond loss and, more particularly, the rapid diamond polish that took place in this quartz-feldspar rock. First, however, a short discussion of the diamond characteristics should be made in order to discuss the situation more clearly. The West African diamonds which we can assume were used. for this drilling have two disadvantages when drilling hard, exceptionally fine-grained rocks. These are rapid polishing and, if .the bit isn't "drilled in" carefully, a tendency to damage, resulting in excessive diamond loss. The normal wear resistance of any diamond is inversely proportional to the compressive strength of the diamond, therefore only the highest grade, of diamonds free from insipient fractures should be employed. Using upwards of 90 diamonds per carat instead of the20 to 30 per carat not only decreases the total projected area of the cutting points but increases the stress per point which, in turn, causes greater depth of penetration into the rock. Considering this depth of penetration, therefore, suggests an approach other than increasing the, number of diamonds per carat and that is to decrease the actual number of diamond points (also the carat weight per bit) so that the penetrating force on an individual diamond is increased. This penetration increases the chipping or rock shearing action.

Jan 1, 1950

By S. M. Spottiswoode

The aim of the hybrid location method is to improve seismic event locations by reducing the effects of errors in the wave velocity of ray paths between each event and each recording site. We report on further enhancements made to the hybrid location algorithm, which is based on the double-difference method developed by Spottiswoode and Milev1and Waldhauser and Ellsworth2. The term ?double-difference? refers to the residuals between the observed and theoretical travel-time differences and are obtained using either picked arrival times or various measures of time differences obtained from waveform pairs. These residuals are minimized for pairs of earthquakes at each station while linking together all observed event-station pairs. An important enhancement is that the double-difference term uses the median arrival time residuals to reduce the effect of outliers on the system of equations. In addition, the hybrid locations are further constrained by considering events of known locations, in this case along lines of development blasts. We relocated some 20 000 previously located seismic events in the Driefontein 5E area; 5 800 of these events were considered to have been development blasts and we constrained their locations to lie on the straight lines joining about 2 150 survey pegs from the mine?s database. Relocated events were shown to distribute more closely around advancing faces than had been the case before relocation. Wave velocities from the development blasts show evidence of anisotropy.

Jan 1, 2005

This paper is in two parts. The first covers the evolution of dredging leading to the development of the æNZ typeÆ large dredge and the second, current alluvial gold recovery practice in NZ. NZ was the first country in the world to adapt the bucket-ladder dredge to alluvial gold recovery. Between 1857 and 1907, gold worth (at today's NZ price of about NZ$600/ounce*) over $11 billion was exported û from a country with well under one million people at that time. Over 200 small dredges operated, mostly on the Clutha River, around the turn of the century, however by 1940, only 20 or so large machines remained, and the last of these, the 4000 ton 'Kanieri' ceased operations three years ago. Recently recognition of the superior digging power of the hydraulic backhoe and reintroduction of the simple 'trommel and riffleÆ plant with about 80 m3 /hour capacity has led to a proliferation of static and floating plants, there being at least 50 currently in operation on the West Coast and in Otago. There are signs however, that the process of evolution of such small unsophisticated plants into larger, more efficient units has begun again. * At the time of writing (October 1984) NZ$l. 00 = US 50ó. NZ dollarsare used throughout this paper.

Jan 1, 1985

By Benjamin A. Allou

La seule production de columbo-tantalite réalisée en Côte d?Ivoire est effectuée dans les éluvions et alluvions du gisement d?Issia, localisé au Centre- Ouest de la Côte d?Ivoire. Même si un lien direct avec les roches granitiques est suspecté, aucune attention particulière n?a été accordée à l?étude de la minéralisation primaire en relation avec l?évolution des granites et des pegmatites associées. Ces granites, qui sont en intrusion dans les roches sédimentaires du Protérozoïque inférieur, comprennent : le granite orienté à deux micas (Lobo), le granite orienté à muscovite dominante (Bitapia) et le granite porphyroïde non orienté à muscovite dominante (Issia). Les résultats de cette étude indiquent que les pegmatites à Nb-Ta-Be-Li sont liées au granite de type Issia. Les observations de terrain et les analyses sur roche totale des granites montrent que: (1) les trois principaux granites de la région sont de type- S et peralumineux dans leur composition, (2) ils ont été formés pendant la période tardi- à post-Éburnéenne, (3) le granite d?Issia fut le dernier à se mettre en place. Les pegmatites liées au granite d?Issia ont été classées en quatre types : Apegmatites stériles; B- pegmatites à Be; C- pegmatites zonées à Nb-Ta-Be; et Dpegmatites zonées à Be-Nb-Ta-Li. Les pegmatites zonées comprennent les zones suivantes: I- zone à aplite; II- zone graphique; III- zone à albite, microcline, béryl et columbo-tantalite; IV - zone à microcline massive; V- zone à quartz. Ces pegmatites présentent une zone d?altération métasomatique externe. La minéralisation de Ta, Nb et Be est liées à la zone III des pegmatites de types C et D, et celle de Li est associée aux greisens qui peuvent être observés n?importe où dans les pegmatites de type D. Les données de terrain et de laboratoire indiquent que le granite d?Issia est la roche parentale des pegmatites à éléments rares de la région. Les pegmatites minéralisées sont distribuées seulement autour du granite d?Issia et les patrons des terres rares des granites et ceux des pegmatites à éléments rares sont très similaires. Les analyses de la composition totale montrent un lien génétique entre le granite d?Issia et les pegmatites à éléments rares. Il est suggéré que les pegmatites ont été formées durant le transport et la cristallisation fractionnée du magma.

May 1, 2003

By S Telford, J Weir

Heathgate Resources Pty Ltd (Heathgate) operates the Beverley Uranium Mine in South Australia, located on the plains between the northern Flinders Ranges and Lake Frome some 600 km north of the state capital Adelaide. The uranium orebody exists in permeable sands within the confined, highly saline Beverley aquifer, approximately 125 m below the ground surface and the uranium is mined using in situ recovery (ISR) technology. The Beverley mine is a highly technologically advanced ISR mine and is operated in accordance with stringent safety and environmental standards. The mine is currently licensed to export 1500 t of uranium oxide (U3O8) per annum. This paper outlines the fundamental differences between ISR operations and the more traditional uranium production methods, such as agitation leaching and heap leaching, where the ore is removed from the deposit, stockpiled, crushed, milled and leached on the surface. Solids tailings from either the mill or the heap are finally deposited in a tailing storage facility. ISR mining differs from conventional mining because the ore remains in place underground (in situ) and the groundwater contained in the ore-bearing aquifer is utilised as the mining fluid. This is achieved by drilling into the deposit and installing wells for extracting and re-injecting the groundwater which is fortified with chemicals. The fortified groundwater (ie mining fluid) flows through the permeable sands containing the orebody, dissolving the uranium. The pregnant mining fluid is then collected and transferred to the recovery plant where the uranium is captured (on ion exchange (IX) resin in the case of Beverley). The barren mining fluid is then re-fortified and recycled to the wellfields. Once mining is completed in a wellfield, the surface infrastructure is relocated to a new wellfield, and the mined-out wellfield is rehabilitated to its original surface condition. A comparison of 'standard' hydrometallurgical plants, heap leach and ISR shows a number of key differences, such as the rate of leaching, the level of control available to the operators, and the type of contact/reaction that occurs. While limited in its applications, ISR mining has proven successful at Beverley and provides another mining and processing method for the production of uranium.

Jan 1, 2008

By Mao Bai

In predicting the integrity of under-mined structures, surface horizontal displacements and curvatures are frequently of greater importance than the more homogeneous vertical displacements. Accurate evaluation of mining induced subsidence and horizontal displacement further requires that the predictive model adequately represents the subsurface geology, mining geometry and extraction sequencing. The following documents an extension of the Subsidence Prediction and System Identification method (SPASID) to the evaluation of horizontal strains. Comparisons are made between predictions from SPASID and two other empirical methods against measured data from a case study. The system identification method is illustrated to predict horizontal displacements and strains most consistently with the in situ data.

Jan 1, 1989

By L. A. Neumeier

The Bureau of Mines evaluated creep properties of Zn-Cu-Ti alloys that were annealed after finish-rolling either cold) or at 480° F (249° C). Compositions ranged up to 1.25 pct Cu and 0.36 pct Ti. Most data are for sheet annealed after finish-rolling to 92-pct total reduction. Annealing times were varied at temperatures between 320° and 560° F (160° and 293° C). For a number of the alloys, annealing after hot-rolling at 480° F affects creep properties very differently in longitudinal and transverse sheet directions. The detrimental result is that the anisotropy in creep properties between the two directions can be vastly increased. Conversely, specific annealing treatments of certain heavily cold-rolled alloys result in surprisingly low anisotropy in creep properties and the low anisotropy coincides with excellent creep resistance for both directions. Supplemental data are presented on tensile, hardness, and thermal expansion properties, and microstructures.

Jan 1, 1972

By S. A. Falconer

The benefication of non-sulfide or non-metallic minerals by froth flotation has been practiced commercially for at least 30 years. In the pioneer stages of development of this flotation art, most of the promoters investigated were fatty acids or soaps that had been found to float sulfide minerals. When commercial application of froth flotation started to assume importance in the late 1920' s and 1930's, a great deal of fundamental research work was done in the laboratory (11-14, 19, 22, 23, 26, 29, 32). Among other subjects, this work included studies of the relative effectiveness of the different fatty acids and their salts on the flotability of various non-sulfide and non-metallic minerals. The successful present-day use of fatty acid and petroleum sulfonate type promoters results from better understanding of the principles of non-sulfide flotation plus the developnent of effective selectivity modifying agents. Many investigators have contributed to a greater appreciation of the numerous interrelated factors involved in fatty acid and soap flotation of non-sulfide minerals. Of these, mention should be made of recent fundamental studies by Tagart and Arbiter (31); Wolstenholme and Schulman (35); Schulman and Smith (28); Wark and his co-workers(3,4) Du FIietz(l5); and J. Leja(24). According to J. Rogers, K. L. Sutherland and E. E. and I. W. Wark(27), "the basic requirements for a 'collector' in flotation are that it shall form a film over the surface of the mineral to be floated and that this film should be oriented so that hydrocarbon (non-polar) groups form the effective surface." When modified in that way, the mineral surface possesses some degree of air avidity. All investigators would agree with Taggart, Taylor and Ince (33)that such a film can be produced only if the collector compound contains an active (polar) group to be attracted to the mineral surface, as well as the non-polar group. The commonly used anionic-type promoters for non-sulfide, non-metallic and metallic oxide ores include: 1. Fatty acids, and their soaps and emulsions. 2. Fatty acids residues — "pitches" and "foots." 3. Sulfonated and sulfated fatty acids and so-called "petroleum sulfonates." 4. Paraffin chain salts — sulfonated and sulfated higher alcohols. 5. Cyclic organic acids or salts, such as naph-thenic acid and naphthenates. Certain fatty acids are more effective than others as promoters for particular minerals under certain specified conditions. Some of the more costly fatty acids or collectors of the paraffin chain salt type may give improved selectivity in some instances and are being used commercially in a limited number of operations. Local availability may dictate the choice of the fatty acid used — for example, the use of palmoil fatty acid for flotation of copper carbonate ores in the Belgian Congo. Coconut oil fatty acids have also found limited use.

Jan 1, 1961

By Andrew G. Martin

In 1991, Modular Mining Systems began marketing a Slope Monitoring System (SMS) now installed at twelve mines. The SMS uses automated wire line extensometers to monitor field conditions frequently. Every few minutes, the slope displacement values and current temperature are transmitted to a central computer via a packet radio telemetry system. The desktop workstation receiving the data continuously provides updated displays of active slope monitors and generates audible and visual alarms if movement exceeds user specified thresholds. The computer system also generates numerous graphs and reports for quick analysis of slope stability. This work describes the functionality of the SMS, details improvements to the SMS hardware and software developed for several clients, outlines different installation techniques needed for wall rock and spoil monitoring, and interprets slope movement data using illustrations of stable and unstable conditions.

Jan 1, 1996

By H Han, W Wang, E Zhou, D Duan

"In this study, physical, chemical and microscopic characteristics of high phosphorus oolitic hematite were studied firstly. Based on which, the new methods of high phosphorus hematite used in the æsolid state reduction by rotary hearth furnace - magnetic separationÆ and iron nugget by rotary hearth furnace direct reduction processes were discussed. The results showed that high temperature, low basicity and high carbon content is conducive for the apatite in iron ore to reduce into molten iron, but not conducive to the removal of phosphorus. Through optimisation of process parameters, dephosphorisation rate of high phosphorus hematite is more than 60 per cent by æsolid state reduction roasting-magnetic separationÆ process while that is up to 80 per cent by iron nugget process. This study can provide theoretical and technical basis on economical and rational use of high phosphorus oolitic hematite.CITATION:Han, H, Duan, D, Zhou, E and Wang, W, 2013. New methods for high phosphorus oolitic hematite dephosphorisation by direct reduction process, in Proceedings Iron Ore 2013, pp 391-396 (The Australasian Institute of Mining and Metallurgy: Melbourne)."

Aug 12, 2013

By N Cusworth

The development of a resource project inevitably requires the investigation of a vast range of issues across most engineering disciplines û mining, metallurgical, chemical, civil, electrical, mechanical and environmental û as well as the geosciences. It is also a characteristic feature of the resource industry that no two orebodies û and hence no two development projects û are the same. So these technical issues have to be addressed to a greater or lesser extent in evaluating any resource projectÆs development potential. Not surprisingly then, technical issues tend to predominate when assessing the development potential of a project in the process typically referred to as ædoing a feasibility studyÆ. But the principal purpose of a æfeasibility studyÆ is to determine whether a development opportunity makes good business sense, not just whether it is technically possible. Resolution of technical issues is often seen as the primary focus of a feasibility study, whereas in reality, these technical issues are the basis upon which an asset delivery and business plan is built. This is not to say that technical issues are unimportant û they are a prerequisite to the demonstration of a projectÆs viability. The feasibility study process must therefore demonstrate that not only have the technical issues been satisfactorily addressed, but also that the broader commercial, economic and social issues have been considered in the development of a comprehensive business plan, which includes an assessment of the risk-reward profile of the proposed development. This paper will present a framework for the conduct of æfeasibility studiesÆ and provide guidance to minimum standards and best practice.

Jan 1, 2007