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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

Completing its historical role the opera tion of copper blast furnace of the Saganoseki Smelter was terminated in 1970, but it left some interesting data on metal lumps formed at the furnace bottom. Analysis disclosed the lumps to be speiss containing 100 to 10,000 g/t of Au and Ag and stratified to iron speiss and copper speiss. Solidifying temperatures of iron speiss and copper speiss being approximately 1,090¦C and 800¦C respectively, copper speiss precipitated at the lower side. The distribution coefficient of Au and Ag between matte and speiss (g/t Au(Ag) in matte / g/t Au(Ag) in speiss) is in the range of 1 x 10 2 to 2 x 10 ' and 1 x 10 1 to 5 respectively. The higher Cu % is in speiss, the-more An and Ag are distributed into speiss. Except for a few data, these results comfotm well to the range of distribution equilibria of Au and Ag in matte and speiss systems by Gerlach and Others.

Jan 1, 1980

Recent and on-going studies on the leaching of gold, the properties and activity of carbon, developments in the elution of gold from carbon, and methods of recovering gold from solution are reviewed. Emphasis is placed on Australian contributions, and their impact on gold metallurgy. Consideration is given to the future development of selective solvent extractants, ion exchange resins or alternative reagents for cyanide.

Jan 1, 1987

By Foudoulis C, Smith CB, Drew RM, Sun S-S, Sheraton JW, Hall AE

Primay (syngenetic and protogenetic) inclusions - i.e. minerals formed during or before diamond growth and encapsulated in the diamond - provide important information on the origin of diamond. Recent Rb-Sr and Sm-Nd dating of such inclusions has yielded crystallization ages older than their volcanic host, implying that diamonds are mantle xenocrysts. In this paper we report results of studies on the nature of syngenetic inclusions and the carbon isotopic compositons of the host diamond from the West Australian diamond deposits at Argyle and Elllendale. The Argyle diamonds are dominantly, of eclogitic paragensis and are characterized by strongly C depleted compositions. We have recognized an association of stone morphology, inclusion type and carbon isotopic composition amongst the Argyle stones, and on the

Jan 1, 1989

By R R. Lovel

In this paper, life cycle assessment methodology has been used to assess the variations in water use associated with different metal production and processing routes and provide insights into the value derived from water usage in the minerals sector. Using water consumption data derived from the literature it has been shown that the æcradle-to-gateÆ water consumption (or embodied water) for production of the various metals considered in the study ranged from 2.9 m3/t for steel up to 252 087 m3/t for gold. The results largely reflect the grade of the initial ore used to produce each metal, and can be approximated by the following equation: W = 167.7 G - 0.9039 where: W = embodied water (m3/t refined metal) G = grade of ore used to produce metal (per cent metal) The study showed that indirect water consumption in the metal production life cycle, in particular that due to electricity generation, can make a significant contribution to the embodied water value, eg aluminium production. When expressed in terms of m3/t ore, the results for all metals considered indicated that the embodied water is roughly, on average, three times the water consumption of the mining and concentration stage. It was also shown that the economic value per m3 of water consumed for the minerals industry exceeds that for the agricultural and industrial sectors, supporting the view that allocating water resources to the minerals industry has a strong underlying economic basis. Water reforms currently taking place in Australia aim to address issues such as competition for water access, reduced security of supply and increase in cost. Consequently the minerals industry, along with others, can be expected to come under increasing pressure to reduce fresh or raw water use and to integrate water use across sectors. While water recycling is an obvious candidate to help reduce water consumption in the minerals industry, issues such as water quality, among others, will influence the extent to which this can be achieved. In addition, wastewater volumes can be minimised using techniques such as pinch analysis to establish and use the minimum water requirement for the process. The use of dry or near-dry processing technologies, for which the demand for water is small or zero, may be a more radical solution to the water consumption problem; however, it is possible that the introduction of dry processing would bring with it a new set of problems, including dust.

Jan 1, 2006

City Resources Limited selected Vanuatu as a target area for epithermal gold mineralization because of its relatively unexplored character and its location on the southwest Pacific rim. During 1985 a systematic program of reconnaissance prospecting was completed on six islands within the Vanuatu group, using a helicopter and a specially designed exploration support vessel with on-board assay laboratory. Within a period of 4 months, reconnaissance prospecting of all six islands was completed, two previously unknown epithermal gold provinces had been discovered, and six major prospects warranting detailed exploration had been identified. Factors which contributed to the success of the program include (i) a flexible management approach, (ii) the mobility and access provided by the support vessel/helicopter combination, (iii) rapid assay turn-around, and (iv) adherence to basic prospecting techniques. The relative merits of various sampling media are discussed.

Jan 1, 1987

By Murdaugh W

The application of photogeological techniques and analysis of more advanced remote sensor images can be a cost and time effective tool in the search for desert placer gold deposits. Examples are given of regional analysis using standard false color composit Landsat images and conventional black and white aerial photography. The examples include identification of sites to sample to evaluate the pathways of .alluvial gold migration and identification of potential sites of concentration. The results of these studies developed an increased number of target areas and exploration in proceeding with promising results. In addition to the development of additional target concepts and identification of specific target areas data useful to evaluation of mineability can also be obtained from photogeological investigation. Some indication at least can be obtained of the existence of duricrusts and salines that may hamper mining. Identification of possible sources of water is another important task in the desert environment. In addition indications of the clay content of the material to be worked is very important because of its economic impact on operational costs and overall recovery. The application of photogeology to these questions is discussed.

Jan 1, 1988

The 5.6 km Canning Tunnel was constructed to improve water supply from Canning Dam to the Perth metropolitan area. The site area is in the Darling Range which is essentially a laterite-capped plateau-remnant underlain by Archaean granitic rocks, intruded by dolerite. Two arrangements were available. After geotechnical investigations which included geological mapping, seismic refraction geo- physics, diamond drilling and mechanical rock testing, a single tunnel was selected in pre- ference to two short tunnels and a connecting pipeline. The tunnel is hydraulically equivalent to a fully lined tunnel 1.83 m in diameter and 5 580 m long. The alignment diverged from a straight line so that the initial upstream section was almost normal to the contours which allowed for minimal support requirements in a weathered zone. Although steel and con- crete lining was needed at both ends, the main section of the tunnel was unlined except for a concrete floor. A sand and rock trap with a capacity of 46 m3 was constructed near the outlet portal to collect debris and sand down to a size of about 2 mm. Portal excavations were in highly to completely weathered rock which extended 56 m into the tunnel at the upstream end, and 18 m at the downstream end. Conventional drilling and blasting were used for tunnel excavation with survey control by laser. Breakage lEngineering Geologist, Mines Department, Perth, W.A.

Jan 1, 1976

By McGuckin P. H, Logan A. S

The BHP Minerals' Cannington silver-lead-zinc deposit is located approximately 190 km south-east of Mount Isa. The deposit, is hosted by Proterozoic rocks beneath a thin cover of younger sediments, and contains a total estimated resource of 45.3 million tonnes at 11.1 per cent lead, 4.4 per cent zinc and 500 g/t silver. The deposit is separated by faulting to form a shallow, lower grade Northern Zone and a deeper, higher grade Southern Zone (Roche, 1994). Contract development of an exploration decline to test mineralisation in the Southern Zone commenced with the excavation of a boxcut in August 1993. The complex variably deformed Proterozoic sequence interpreted from drill core and intersected in the exploration decline has required a high level of practical rock mechanics input to achieve: ò appropriate support designs, ò a high quality of installation, and ò required development advance schedules. The Norwegian Tunnelling Index (Q System) in conjunction with regular face mapping is used as an operating tool to assist in decision making for ground support. Line mapping, discontinuity analysis and wedge assessments are conducted routinely to optimise ground support requirements in the decline, intersections and all other underground excavations. Throughout the project, an emphasis has been placed on developing a strong working relationship with the contractor to achieve quality assurance program targets.

Jan 1, 1995

By Hanes J

More than 200 bursts in coal occurred at Leichhardt Colliery prior to December 1978 during mine development in the 6 m thick Gemini seam at depths approximating 400 m. Three large bursts each displaced more than 300 tonnes of coal and stone. Two of these which occurred in continuous miner developments, are described and compared. Geological settings, mining strains including induced cleavage and roof failures associated with bursts are described. A shotfiring technique replaced mechanised mining following a major incident at the colliery. Present mining procedures, the apparent improvement in stability of workings and ongoing geotechnical monitoring programme are discussed.

Jan 1, 1980

The Split Rock low grade copper prospect was discovered in 1969 by Cyprus Mines Corporation using stream geochemistry. Cyprus "Imes carried out geochemical and geophysical investigations, geological mapping, and percussion and diamond drilling, and concluded that the grade of mineralisation was too low (0.1% copper) to be of interest. In the present study, the geology was remapped and very substantial differences from the previous observations are recorded. (lineraliced acid dykes in a 1 000 foot hole drilled by Cyprus Mines had a total inter- section of almost 300 feet with an average crade of 0.4% copper. Surrounding drill holes at distances of 500 feet did not intersect +hese dykes. This group of drill holes occupies a small part of an area about 2 km by 1 km which was affected by intense quartz sericite pyrite alteration along many fractures with an associated soil copper anomaly. It may be that the quartz sericite alteraiion with feeble copper mineralisation represents hydrothermal alteration emanating `rom a mineralised intrusion of which the dykes mentioned above are off shoots.

Jan 1, 1978

By E Giles

Pike River Coal Limited (PRCL) is opening a new underground coal mine in the Paparoa Ranges north-east of Greymouth. To access the coal reserves, PRCL have had to build a 13 km access road through regrowth and virgin forest, and appointed McConnell Dowell Constructors Limited, with URS New Zealand Limited as their consulting engineers, to construct the final access link: a 2.3 km long, 5.5 m wide and 4.5 m high incline tunnel. This paper discusses the logistical issues of construction in an isolated pristine forest in mountain land and how they were addressed. It provides an overview of the 90 per cent complete tunnel and how challenging rock conditions have been mastered. It outlines briefly the remaining work which is construction of pit bottom workings where the mine infrastructure will be housed and construction of a 110 m deep, 4.0 m diameter, vertical ventilation shaft.

Jan 1, 2008

By Lyman GJ, Davis JJ

Models which have been presented in the literature consider only selected aspects of dense medium cyclone operation, are empirical in nature and generally relate only to severely limited ranges of operating parameters. This paper reports progress towards development of a more comprehensive and robust model. The data base consists of partitioning parameters developed using density tracers and conventional coal sampling and analysis techniques, together with recordings of parameters such as cyclone dimensions, feed pressure, medium size distribution and product media densities.. These data were drawn from 15 Australian coal preparation plants. To elucidate the effects of important operating parameters on medium behaviour and on the partitioning of large particles a series of pilot scale tests was also conducted. The present model consists of eight sub-models which relate to particular aspects of dense medium cyclone operation such as medium flowrates and densities, or size- by-size separation densities and Eps. The model structure follows a logical progression which clearly demonstrates the importance of understanding medium behaviour before attempting to predict partitioning performance. The model also attempts to define the conditions under which yield losses due to unstable "surging" discharge may occur.

Jan 1, 1987

By Christie GB, Mainwaring DE, Leong YK

High solids brown coal slurries have been prepared with concentrations approaching those achieved with bituminous black coals. The high inherent water content and macroporosity of Victorian brown coals have been reduced in a controlled manner by chemical and mechanical means. The hydrophobicity of the coal surface has been increased sufficiently to reduce the tendency for swelling and water uptake. This together with densification has allowed the solids content to be progressively improved from 25% solids with raw coal to 65% solids with modified coals. Both raw brown coal and modified brown coal suspensions show shear thinning behaviour resulting in lower viscosities at higher flow rates. All coal suspensions displayed a yield stress once sufficient solids concentration was achieved. This yield stress can be used in the prevention of solids settling. Under simple shear mixing the network structure that provides the yield stress quickly breaks down to a low viscosity fluid with reduced yield stress and a pumpable consistency. The time necessary for structural recovery is in the order of days permitting shut-down and start-up of fuel delivery systems.

Jan 1, 1987

By B Olsson, C Glassock

Computer simulation modelling (discrete event) has been used at Olympic Dam (OD) to model the handling of ore from the point of extraction at the stope drawpoint through to the ore stockpile on the surface. Computer simulation is a well accepted tool for modelling the behaviour of such large and complex operating systems. It is a particularly useful technique in complex operations where there are multiple interactions between the inputs and outputs of various unit operations. In this instance it can be utilised during the early stages of a project, for example, as part of the business case definition phase or the early engineering phase. A well constructed and tested simulation model provides a sound base upon which informed business decisions can be made. Furthermore, the behaviour of the model with varying inputs can help build a solid understanding of how the asset behaves when varying inputs and constraints are imposed upon it and, as a result, the major points of leverage that designers and operations personnel have to affect the real world behaviour of those assets. Better decisions can be made when the right facts can be examined, various options explored and conclusions tested. Simulation modelling is one of the tools available to make this process work.

Jan 1, 2005

Polish coal mines are well equipped with methane monitoring systems,nevertheless the worsening conditions force a continuous impro- vement in the field of environmental monitoring. Application of modern electronic components make it possible to design the new modular telemonitoring system incorporating the best features of the older systems,widely employed in Polish collieries, eliminating their weak points. Several new sensors and portable instru- ments for methane monitoring and early fire detection have been developed and tested in mining conditions.

Jan 1, 1988

By Hutchings SG, Skimmings T

This paper describes the results of the field application tests at Miike Colliery on the integrated automatization of the longwall mining system for medium thick coal seam. The purpose of the research is to develop an automatic longwall mining system which can be controlled accurately from outside of the face, and the ultimate goal is an eliminate of men from the face. Presently, the field test is being conducted in Yotsuyama mine following to a success in the performance test on surface. Remote Batch Control System for shield supports has been adapted to operate all supports from the control panel located at the entrance of the face. Remote monitoring and control system of the drum shearer has also been tested. The system makes it possible to operate the shearer either at the main gate or full automatic. Productivity and safety will be substantially improved as those systems enable to eliminate all workers from the face under the severe working conditions with high ground pressure and hot and humid atmosphere due to increasing mining depth. So far, we have been satisfied with the results of the field test and those system will be an effective countermeasure to operate the face with a high risk of rock-burst.

Jan 1, 1987

ABSTRACT' The first references to gold in New Guinea were by the Portuguese in 1525. The first significant discovery and gold rush was on Sudest Island in 1888 and was a natural extension of the rush that surged up Australia's eastern coast and ended at cook- town. Prospectors made a series of minor discoveries in coastal regions before the first large discovery at Wau/Edie Creek/Bulolo in 1925. Major post war gold discoveries were made at Bougainville, Frieda River, Porgera and Ok Tedi. On Misima Island a large bulk low grade deposit has been recognised surrounding old gold workings. Gold exploration has increased drama- tically since the lifting of a 3 year moritorium on new exploration areas in Noverrber 1982. A new bulk low grade gold discovery has been made on Lihir Island, north of Bougainville and a number of other promising areas are being drilled. Gold production is also expanding dramatically from current levels of 600,000 ounces to an anticipated 1.3 million ounces in 1985 with the opening of Ok Tedi. Other potential developments are likely to increase output above 2 million ounces by 1990. Papua New Guinea's world ranking as a producer is likely to move from 9th to 7th in 1985 reflecting the favourable geological potential, stable political environment and attractive development terms offered by the Government.

Jan 1, 1984

By Kellerwessei H, Oberheuser G

A major breakthrough in extending the life of the wear material of high pressure roll crushers when treating moist, highly abrasive material has removed the last impediment to the widespread acceptance of high pressure comminution in the minerals industry. The system is very energy efficient. It has been demonstrated that in the cement industry energy savings of up to 50 per cent have been achieved compared to conventional hall milling. Besides being energy efficient, the process provides some remarkable and useful effects; ò better liberation of mineral constituents (as proven for diamond liberation). ò preferential comminution where induced micro fissures follow grain boundaries. ò higher reactivity of the product due to micro fissures. All these points will be described here together with a review of current flowsheet design and incentives for the use of this method of Comminution.

Jan 1, 1993

By Knijnikov M, Cameron D

Coal Quality management and the control of the flow of coal through complex mining preparation and transport phases of standard mining operations has assumed greater importance over recent years.

Jan 1, 1998