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By E C. Holloway

"The financial valuation of mining assets has a number of fundamental differences to the valuation of many other asset groupings. One such difference is that typically, the greater proportion of both the cost and revenue sides of the cash flow are inherently governed by systemic market forces.As a result, the range of outcomes for the valuation of each mining asset is more unpredictable, with higher levels of risk and uncertainty. In contrast, the management function of many other non-mining businesses or industry groups can control at least a portion of the cash flow by maintaining the margin or controlling the sales price. The management teams of mining businesses and operations typically have limited options, and are thus price-takers for both costs and revenues. As mining is an inherently cyclical industry, large, long-life operations can exist through several price cycles, making valuation both subjective and challenging.The outcomes of both static- and stochastic-based valuations, as well as the internal probabilities of the associated cash flow statements, are significantly impacted when the correlations between the appropriate parameters are quantified, modelled and incorporated into the valuation framework. The appropriate parameters for correlation modelling primarily include those that are governed by systemic market forces. Applying this process results in a different risk profile for the asset by allowing the risks resulting from systemic market movements to be more accurately quantified and then objectively minimised. This process also reduces the level of residual uncertainty in the valuation outcome.This paper presents a valuation methodology to pragmatically incorporate this level of valuation sophistication and statistically quantify the associated increase in the level of confidence of the valuation outcomes reported.CITATION:Holloway, E C, 2016. Correlated valuation methodology, in Proceedings Project Evaluation 2016, pp 181–200 (The Australasian Institute of Mining and Metallurgy: Melbourne)."

Mar 8, 2016

By D Connelly

Silver and gold bearing ore from the Troy Resources NL Casposo Gold-Silver Project, located within the San Juan Province of Argentina contains a complex mix of gold, silver, electrum and silver sulphides in the ore. Casposo is a typical low sulphidation epithermal style gold–silver deposit where mineralisation is hosted within rhyolite – andesite flows and breccias. Veins are typically banded quartz–chalcedony colloform - crustiform banded with quartz - carbonate infill. Mineralisation is associated with an assemblage consisting of quartz, chalcedony, adularia, calcite, illite, sericite and trace sulphides. Gold and silver occur as electrum, native silver, sulfosalts and silver sulphides. This paper presents a case study that describes the process selection, development and engineering of a tailored process plant for the recovery of gold and silver from this ore.The original feasibility study, modelling, metallurgical testwork and engineering studies are outlined. The final flowsheet was based on minimising capital cost, operability, recovery and minimising technical risk.The process flowsheet uses the traditional Merrill Crowe route because of the high silver to gold ratio in the feed and achieves maximum gold and silver recovery while providing a common facility for future ore body treatment.

Aug 8, 2011

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

A Kellogg type computer model of the slag fuming process is applied in reverse to derive some thermodynamic properties of components in lead blast furnace slag. At 1200¦C, the average activity coefficients calculated were 3.40 (S.D. 0.50) for ZnO referred to the pure solid; 0.657 (S.D. 0.022) for PbO referred to the pure liquid; for the ratios y 3.175 y (referred to the Feo.9450, Fe304 pure solids) 4.19 (S.D. 1.15), and for yCaS/ 1CaO (referred to the pure solids) 5.10 (S.D. 2.96). Statistical relationships were derived for these activity coefficients and ratios as functions of the composition of slag, which contained in molar percentages 1.9 - 12.6% ZnO, 19.8 - 24.9% Fe0.9450, 0.9 - 1.6% Fe304, 0.002 - 1.9% PbO, 16.1 - 18.6% CaO, 25.9 - 31.0% SiO2, 4.8 - 5.5% MnO, 9.2 - 10.3% A101.5, 1.2 - 1.4% CaS, and 5.1 - 9.6% "Mgo" (the balance).

Jan 1, 1980

By G J. Harbort, K Lam, C Sola

The relationship between the geology of porphyry copper deposits and their processing performance is an area of interest. Being able to predict comminution properties of the ore from physical characteristics and geological descriptions would allow an increase in the precision of capital cost estimates, operating cost estimates and throughput rates. This geometallurgical approach would reduce the requirements for expensive comminution tests.As the comminution circuit is the highest capital cost item in the plant and a possible throughput bottleneck, understanding the variability in hardness within the orebody is critical. A geometallurgical model allows calculation of ore hardness values in mining blocks from ore characterisation data. This model subsequently uses a combination of simulation and power-based approaches to relate ore hardness and flotation feed size to grinding circuit throughput.This paper reviews the geometallurgical models developed for seven porphyry copper deposits and discusses the strengths and shortfalls of the methodology and similarities and differences between the different deposits.CITATION:Harbort, G J, Lam, K and Sola, C, 2013. The use of geometallurgy to estimate comminution parameters within porphyry copper deposits, in Proceedings The Second AusIMM International Geometallurgy Conference (GeoMet) 2013 , pp 217-230 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Sep 29, 2013

By Q Gong, J Li, J Zhao, Y Zheng

Excavation by tunnel boring machines (TBMs) offers many advantages over conventional excavation methods, in terms of safety level, working environment, advance rate and overall cost. While TBMs have been extensively used in civil tunnel construction, they are also viewed as a competitive alternative to the drill-and-blast method for underground mining, attracting increasing attention from the mining industry. This paper presents an overview and general assessment on applications of TBMs in mines, by reviewing more than 60 TBM applications in underground/open pit coal and hard rock mines around the world. The projects range from the early exploratory trials of TBMs in mines in Germany, England, South Africa and America in the 1960s and 1970s, to the ongoing projects in Australia, China and Chile. The paper focuses on the geological compatibilities, the problems encountered, the solutions undertaken and the lessons learned from those projects. The paper summarises the progress made in the past and highlights the challenges faced by TBMs in mining due to complex ground conditions and geometrical requirements. With the technological advances of TBM and experiences gained in the past, more applications of TBMs are expected in underground coal and hard rock mines.CITATION:Zheng, Y, Gong, Q, Li, J and Zhao, J, 2014. A review of the applications of tunnel boring machines in mines, in Proceedings 15th Australasian Tunnelling Conference 2014, pp 691–704 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Sep 17, 2014

By P Cleary, G K. Robinson, J Hilton, P Wilson

Concern has been expressed that Vezins can be biased when used for sampling fine materials if the cutter speed is as high as the 0.6 m/s which is often used. Using modelling techniques that consider airflow as well as particles, we have endeavoured to investigate sampling bias as a function of the size of fine particles, cutter aperture, cutter speed, shape of cutter blades, and the size of the gap between the inlet pipe and the cutter blades. Using crude estimates of the rate of airflow and a simple model of a single particle moving through air led to an approximate rule that bias will not occur due to mechanisms related to airflow for particles larger than about 200 microns; and bias will always occur for particles smaller than about 40 microns. For particles between these size limits, the extent of bias depends on particle density, cutter speed and cutter geometry as well as particle size.CITATION:Robinson, G K, Wilson, P, Hilton, J and Cleary, P, 2012. Avoiding bias when using vezins for sampling dusty materials, in Proceedings Sampling 2012 , pp 109-114 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Aug 21, 2012

By S Kowalczuk, S V. L Barrett

The potential for adverse surface settlement during tunnelling in soil and rock poses a significant risk to the successful completion of any tunnelling project. Undesirable ground movement may lead to unacceptable level of damage to surface infrastructure, buildings and the environment, resulting in safety concerns as well as causing significant delays and costs to a project. One of the empirical methods which is commonly used to predict surface settlement in the early stages of a project’s development is the volume loss approach as described by Mair, Taylor and Burland, 1996. This method was developed for use in soft ground; however it has also been applied in weathered and soft rock to provide an initial indication of potential surface settlements along a proposed tunnel alignment. This paper presents some initial thoughts on the use of this method in weathered and soft rock and the associated limitations which need to be taken into consideration when interpreting the results. This includes complex weathering profile cases where the strength and stiffness of the ground does not necessarily increase with depth.CITATION:Kowalczuk, S and Barrett, S V L, 2014. Initial thoughts on application of the volume loss approach for estimates of surface settlement due to tunnelling in weathered rock, in Proceedings 15th Australasian Tunnelling Conference 2014 , pp 641–646 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Sep 17, 2014

By Waijun Cheng, Guilin Xie

A microcomputer control system prototype of a Switched Reluctance drive for storage battery electric vehicle in coal mines is developed. The paper introduces the hardware components, the control strategy and the software unit. It is shown that

Jan 1, 1998

By F K. R Klose

Malmberget is a sublevel caving mine owned and operated by Luossavaara-Kiirunavaara Aktiebolag (LKAB), a Swedish state-owned iron ore mining company, in northern Sweden. The mine has an annual iron ore production of approximately 15 Mtpa. The current strategy foresees an expansion which will increase the mine’s depth considerably. Ventilation and air conditioning modelling for the planned expansion is ongoing. One of the most influential parameters for ventilation planning anddesign for a deep mine is geothermal gradient, which is crucial for the design of the refrigeration system. It is determined through virgin rock temperature (VRT) measurements carried out at various depth below the surface. This paper details these measurements and the determination of geothermal gradient for Malmberget Mine for the expansion study, which were necessitated by thelack of information for the focus depth and area.

Oct 12, 2022

By Hawkins L. V, Seedsman K

A combined reflection seismic and magnetic survey off the south coast of New South Wales has revealed six distinct reflection horizons within the Lower Triassic- Upper Permian sequence, and has enabled the upper part of the Illawarra Coal Measures to be mapped in considerable detail. Large magnetic anomalies in the eastern half of the survey area appear to originate in the Gerringong Volcanic Sequence which forms the magnetic basement in this survey. Small residual anomalies in the western half of the area can be correlated with small scale faulting and folding in the uppert part of the Illawarra Coal Measures, as revealed by the seismic reflection survey. A synclinal axis striking at approximately 55¦ has been mapped near the western margin of the survey area, and areas of faulting and folding have been outlined by com- bined analysis of seismic and magnetic results.

Jan 1, 1969

By J Meikle

A projected image is not always a true representation of a situation, or indeed an industry. This is often the case of the mining and minerals industry, which has frequently been portrayed in a negative light with a male dominance stigma attached. However, these issues can be combated for both the industry and its future, current undergraduate students, through undergraduate industry experience. In particular, vacation work enables female students to dispel many myths surrounding the industry and realise that the mining and minerals field offers career development for both genders. This paper will discuss how vacation work enables students to make important career decisions even before they have graduated. Industry experience provides undergraduates with the opportunity to gain practical knowledge relevant to their field of study. Additionally it allows students to observe the nature of the industry and the sacrifices necessary to advance careers. The prior insights into an industry are relevant to all students, but particularly female students, who might otherwise be dissuaded from a career in mining. This paper is written from the perspective of two female undergraduate students studying Mining and Minerals Processing Engineering.

Jan 1, 2006

By T Ireland, S Eratne, W Newns, P Spies

The approach to risk management during the procurement of major projects often has a significant outcome on the ultimate delivery of a project. The NZ$1.4 B Waterview Connection project is the largest and most complex project yet undertaken by the New Zealand Transport Agency (NZTA) and the procurement process for an alliance contract was refined to provide compliance with the International Tunnel Insurance Group (ITIG) Code of Practice for Risk Management of Tunnel Works (TCoP). The principle of shared risk within an alliance incentivises a common understanding of project risks prior to finalising the alliance agreement and therefore enables superior risk management through design, construction and beyond. Risk management practices need to be instigated well in advance of commercial phases, so that commercial competition does not lead to a significant elevation of project risk. In particular the practice of gaining commercial advantage by taking on a potentially unmanageable level of risk is one of the outcomes to be avoided by the TCoP.During the procurement phase the NZTA placed high value on design and construction mitigation measures proposed in order to address ground risks, as is appropriate for a major tunnel project. In order to achieve alignment on the level of geotechnical risks an Alliance Geotechnical Baseline Report (AGBR) process was developed.This paper describes the measures taken during the procurement process to achieve certainty with respect to outcomes and minimise project risks whilst also achieving value for money. Refinements to the procurement process to ensure compliance with the TCoP prepared by the International Tunnel Insurance Group (ITIG) are described along with the AGBR process applied as part of a suite of measures to achieve a successful procurement outcome.CITATION:Ireland, T, Spies, P, Eratne, S and Newns, W, 2014. Risk management and use of a geotechnical baseline report for a competitive alliance procurement?process, in Proceedings 15th Australasian Tunnelling Conference 2014 , pp 553–562 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Sep 17, 2014

By H Law, M Muller

Mount Isa Mines (MIM) Copper Concentrator currently utilises Agitair 120 banks for its roughing flotation circuit. Apart from a rotor change, the only other significant work completed to the Agitair banks since their installation and commissioning over 40 years ago has been a like for like refurbishment in 2016. The Agitair banks at the MIM Copper Concentrator currently utilise the Pipsa rotor design which progressively replaced the original Chile X rotor design in the 1980’s and 90’s in the copper concentrator. Since the development of the Pipsa rotors, modern rotors such as the Dorr-Oliver (DO) high shear rotors have been released to the market with proven recovery and concentrate grade improvements over previous rotor designs. This paper aims to detail the installation, testing and comparison of Pipsa versus Dorr-Oliver rotors in two different flotation sections of the MIM Copper Concentrator.CITATION:Muller, M and Law, H, 2018. High shear rotor trials in the Mount Isa Mines Copper Concentrator, in Proceedings 14th AusIMM Mill Operators' Conference 2018, pp 393–402 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Aug 29, 2018

By M Medina, J Alexander, R J. Longey

Capricorn Copper Pty Ltd (CCPL) are operating the Capricorn Copper Mine located at Gunpowder, Queensland. As current holder of the environmental authority for the site, CCPL have obligations to rehabilitate areas of the mine that are no longer operational and have the potential to cause/contribute to environmental harm. CCPL sought a voluntary Transitional Environmental Program (TEP) to provide an agreed program of works to cap and rehabilitate the former Mammoth Tailings Storage Facility. The voluntary TEP contained conditions that were required to be met, to reduce the potential for environmental harm from the facility. The former Mammoth Tailings Storage Facility commenced use in the early 1970’s, and is an unlined valley in-fill structure, contemporary in design compared with other such approved structures of the era. The decommissioned Mammoth Tailings Storage Facility, now known as the Old Tailings Storage Facility (Old TSF), has been a legacy source of contamination due to the existing capping not meeting modern cover criterion, and allowing oxidisation and infiltration to the underlying acid forming tailings resulting in Acid and Metalliferous Drainage (AMD) from the facility. A cover design for the Old TSF, and other mine waste storages onsite that required clay capping, had been proposed by previous operators. Under the TEP cover design phase, it was identified that a key constraint was the lack of significant quantities of low permeability clay onsite. The lack of available clay prompted the consideration of alternate lining materials for the Old TSF, with a Bituminous Geomembrane Liner (BGM) being adopted as the preferred alternative. The BGM compared favourably with clay-based materials on seepage analysis, and led to other benefits by eliminating the need for borrowing clay off site, reducing the site’s environmental footprint, and reducing construction time. The BGM cover system on the Old TSF is being monitored with the intent to use this as a case study to confirm expected performance, enabling the cover design to potentially be adopted on the remainder of the site’s mine waste storages that require capping.

Jul 1, 2021

Risk management has become an essential tool for mining companies to ensure their projects are well-managed and profit expectations are achieved. Risk management has also become a mandatory corporate governance requirement in Australia for publicly listed companies and equally important to attract investors. This paper provides a brief overview of the essential tools needed to implement a practical risk management framework to comply with the internationally recognised ISO 31000:2009 risk management-principles and guidelines from the perspective of small or soon to be producing mining companies. To?successfully?deal with the unknown and to manage the opportunities and risks involved with a mining project requires a clear understanding of the basic risk management principles. These include how to develop a project risk register, how to develop a project risk treatment plan and how to manage and monitor project risks to take full advantage of the opportunities presented.The first step is to identify and fully appreciate the risks that face a mining project. There are many risk identification methods that can be used including checklists, brainstorming and hazard and operability (HAZOP) studies. These often lead to a telephone book full of risks which are near to impossible to manage. A risk library specifically designed?for mining?projects containing no more than 100 risks will cover the major showstoppers, is practical and can be readily implemented and successfully managed.A risk framework also needs to be established which is compatible with the companyÆs structure and objectives. Once each risk has been assessed in regard to consequence and likelihood and the risk control systems are in place they need to be assigned to the responsible manager. The extreme or high risks will require a risk treatment plan to be developed. Risks will change during the life cycle of a mining project. Hence, a reliable monitoring system is also required for compliance.CITATION:Jones, J A, 2012. Mine project risk management, in Proceedings Project Evaluation 2012 , pp 117-122 (The Australasian Institute of Mining and Metallurgy: Melbourne).

May 24, 2012

By D Howe, J Conn, J G. McLellan, K Gates

The Red October Gold Mine, owned by Saracen Gold Mines Pty Ltd, is located approximately 80 km south of Laverton, Western Australia. It is considered to be of a similar nature to many of the Archaean granite-greenstone deposits in the Laverton Tectonic Zone, and presents as an intriguing and relatively young deposit in terms of developed structural and genetic models. Regional deformation events have been proposed for the area, and are relatively well accepted. The most important of these deformation events in the region were the D4b (WNW–ESE sinistral transpression) and D5 (ENE–WSW dextral transpression) which have been attributed to the main Au mineralising phases. At the local scale there appears to have been a rotation of the regional stress field to provide the optimum orientation of maximum principal stress for sinistral movement on the main shear zone.Fully coupled 3D finite element analysis (FEA) was used to simulate the geomechanical response of the system based on structural observations. The geomechanical modelling resulted in highlighting anomalous patterns of stress and strain and subsequent fluid flow as a result of the two main deformation events. The D4 simulation provided a good correlation with the known distribution of subsidiary structures on the main shear zone, and furthermore provided several geomechanical targets that suggested locations of additional subsidiary structures. The D5 simulation provided a great insight into the response of the main shear zone and known subsidiary structures also highlighting additional targets indicating potential for further mineralisation. These targets have since been followed up with a 732 m deep surface reverse circulation (RC) drill hole, resulting in the discovery of two high-grade shoots, with follow up testing currently planned for mid-2014.CITATION:McLellan, J G, Conn, J, Howe, D and Gates, K, 2014. Structural controls and strain partitioning in the Red October Gold Mine, Western Australia, in Proceedings Ninth International Mining Geology Conference 2014 , pp 315–322 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Aug 18, 2014

By H Arvidson, J Vann

When only wide-spaced drilling is available, for example at concept, prefeasibility and feasibility stages, properly implemented linear estimation (including ordinary kriging) predicts grade tonnage relationships that are over-smoothed compared to final production estimates (and production). Non-linear estimation and conditional simulation are alternative geostatistical approaches that can provide more reliable estimates of the recoverable tonnage and grade from wide-spaced drilling. Non-linear estimation and conditional simulation have been rarely used on iron ore deposits. However, these techniques have had wide application in other commodities such as gold and base metals. Conditional simulation has been used in the iron ore industry (eg Guibal et al, 1997); however, its use here is outlined as a means of generating non-linear estimates, not just its use for variability and drill spacing analysis. As a rule, regardless of commodity, the decision to use non-linear geostatistics will necessitate increased skills and require more time. This decision must therefore be justified in terms of cost-benefit. Such cost-benefit analysis is not straightforward, and to help an approach for determining when linear estimates are inadequate is presented. Recommend in this paper is a well-established non-linear geostatistical approach, the global ædiscrete Gaussian modelÆ (DGM) of change of support, as a tool to establish whether moving from linear to non-linear estimates will materially improve estimate results. Also discussed is the additional use of DGM as a block model validation tool. One specific factor contributing to the lack of application of non-linear geostatistical methods in iron is the added difficulties that arise when conditional simulation and non-linear estimates are required to reproduce the numerous and often important correlations between variables in iron ore deposits. Consequently, presented in the paper is a synoptic review of non-linear estimation and simulation methodologies applicable to correlated variables.

Jan 1, 2007

By F K. Altuntov

The study presented in this paper is based on the Kiirunavaara underground mine located in the northern part of Sweden. The deposit is mined using the sublevel caving (SLC) mining method. This paper briefly reviews the alternative SLC layouts, as well as presents challenges for the application. In Kiirunavaara currently, the traditional SLC design is employed, however, continuous improvement of material transportation systems used in mines generates a need for investigation of the current and future production area layouts in sublevel caving mines. When identifying the potential benefits of the alternative production area layouts, the production targets and effects must be further investigated to understand the benefits and potential effects. In this study, several different layouts have been investigated and evaluated. The designs include different development configurations and orepass infrastructure moved further away from the orebody and still require further investigation.

Mar 29, 2023

By J Webb

"It is vitally important in projects where the cut-off grade is low that there is no contamination during the sampling and sample preparation process, both in the ore and the waste zones. Failure to identify contamination could have devastating financial consequences for a project. The use of a variety of blank types is essential for ensuring that contamination is identified and eliminated at every stage of the sampling and sample preparation process. This paper examines an instance where an effective assay quality assurance and quality control (QA/QC) program was able to identify and eliminate a source of significant multi-element contamination in the prefeasibility stages of an open pit project. This examination includes the: evidence for contamination findings of the investigation process of resolving the problem and correcting the data evidence for both addition of metal and dilution through contamination potential impact on the project had this issue not been dealt with. It was through the use of a combination of blank types that the QA/QC process at Mount Isa Mines (MIM) identified a contamination issue at the first crushing phase of sample preparation. Identification of the contamination allowed MIM to stop assaying activities and work with the laboratory to correct the problem. The sampling program could then be continued with no further doubts about the sample preparation process. Contaminated samples were resampled from retained core. With the continuous monitoring provided by the blanks program, it was possible to ensure that only clean results went into the resource modelling data set. CITATION:Webb, J, 2014. When nothing is what you need – the importance of using blanks at all stages of sample preparation, in Proceedings Sampling 2014 , pp 49–54 (The Australasian Institute of Mining and Metallurgy: Melbourne)."

Jul 29, 2014