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The Closure Risk model was developed as a new tool to aid decision makers in the complex area of mine closure. It uses a simple analytical technique that allows the decision maker to simplify what is often a complex mine closure process into more easily managed sub components. This systematic approach ensures that critical factors in the closure process are not overlooked. It also allows the most important issues to be highlighted. The model can also be used to produce quantitative estimates of risk by weighting and prioritising the issues to produce the Closure Risk Factor (CRF). Field trials at several mine sites in the Northern Territory of Australia in 2001 tested the model. The trials confirmed that the model has significant potential as a tool for decision-makers to assess in a structured, systematic manner, the major closure risks at individual mine sites. The risks include not only environmental impacts but safety and health, community, legal, financial, technical and other issues. The trials confirmed the value of a team-based approach and the inputs of key staff including environmental, production, mine planning, and community liaison personnel as well as mine management. Although the usefulness of the qualitative component of the model was established, it was found that, due to the influence of subjectivity, the utility of the prototype model to determine quantitative risk was of limited value. Using a continuous improvement approach, improvements to the model were sought. A refined model, incorporating the Australian Standard 4360 definition of risk and facilitated in-house risk assessment sessions was developed and tested against the data obtained in the field trial. This model, while maintaining the qualitative strengths of the original, allows more accurate absolute and relative quantitative scores to be calculated. This in turn facilitates comparisons between the issues at a single site as well as between different mines.

Jan 1, 2003

In Finland fogging in mine ramps is a common problem. Fog forms when warm and humid exhaust air moves upwards the ramp, where the skin temperature of surrounding wallrock decreases to about 10¦C. Changes in fog thickness and lengths of fog-filled parts of the ramp depend at least on climatic conditions outside, diesel equipment usage in the mine, and the length of working sequence at a time. In this study fogging problems in three different mines, namely Orivesi mine, Louhi mine and PyhSsalmi mine, with different ore types, different layouts, and different depths are presented and compared. All these mines use diesel equipment and the ramp is used as an exhaust air route. In two of these mines the ramp is used as a haulage road and in the other for supply and repairing, checking, and surveying purposes. Measurements of humidity, temperature, air velocity, and dust content were performed in these mines. The measurement results, as well as field observations are presented, compared, and discussed. The results show that fog is observed in areas with high relative humidity values when air temperature and dew point temperature are less than 3¦C apart from each other. Air velocity values were high in many areas. In addition, measured particle concentration values were mainly high in areas, where fog was observed. A short literature review of recent fog formation studies is also presented. It demonstrates the complicacy of the fog formation process. Similarities and differences concerning fog problems in the ramps are found and presented. As already a lot of new information is gained, the continuation of research is considered plausible to find more economical ways of solving and preventing this problem in the future.

Jan 1, 2005

By Beattie T

For many years explosive sensitized explosives were assessed using the ballistic mortar. The standard test used lOg of explo- sive initiated with a detonator. Over the past 30 years many non- explosive sensitized explosives and blasting agents have been developed. Most of these new explosives and blasting agents cannot be tested in the ballistic mortar as they are not initiated by a detonator. It is also known that all explosives have a criti- cal diameter. When the cartridge diameter is less than the criti- cal diameter a stable detonation cannot be produced and the explosive fails to propagate. For many blasting agents the criti- cal diameters are greater than 50mm and such large diameters cannot be tested in the ballistic mortar. The underwater test allows explosives to be tested in diameters greater than the critical diameter and to be adequately initiated with suitable boosters. The effects of the explosive on the water are easy to measure and the test provides a safe, convenient and reproducible means of assessing explosive performance. The reaction products are allowed to expand to a low final pressure. The underwater test can therefore be used to give a measure of the total expansion work of explosives. The detonation of an explosive induces a shock wave in the surrounding water. The profile of the shock wave can be meas- ured 3-6m from the charge and the energy in the shock wave cal- culated. Measurements over a range of distances show that the shock wave is attenuated as it travels through the water and the attenuation is different for each explosive. This makes it difficult to estimate the energy dissipated in the water between the charge and a single gauge. The reaction products continue to expand and displace water. The bubble continues to expand until the kinetic energy of the water is zero. The gas pressure in the bubble is now lower than the hydrostatic pressure and the bubble radius is a maximum. The higher external hyrdostatic pressure causes the bubble to implode. The bubble energy is the work done displacing the maxi- mum bubble volume against the hydrostatic pressure and can befound from the bubble period. It is not always easy to find a large enough pond for the bubble to expand undisturbed by the water surface and the containing boundaries. This makes it difficult to determine the bubble energy accurately in shallow Ponds.

Jan 1, 1988

By J E. Everett

Ore selection is generally a highly subjective task, with emphasis on producing product with a consistent target grade matching a perceived market requirement. A composite selection criterion ‘Comp’ (a linear function of the grade vector) can be used to maximise ore tonnage at a specified target grade (in Fe and contaminants) extractable from a block model. The blocks correspond to the selective mining units, with grades interpolated from diamond drill hole data. An iterative procedure has been developed to identify the coefficients and cut-off value for the composite function ‘Comp’, maximising potential ore tonnage at target grade.Commonly, target grade is predetermined by marketing; however, there is no guarantee that maximising ore tonnage at a specified target grade maximises the potential value of the mine. If the value of ore could be expressed as a linear function of the grade components, then these coefficients would be appropriate for the selection criterion ‘Comp’. The cut-off value for ‘Comp’ would correspond to the marginal cost of production; all blocks with a ‘Comp’ score above the cut-off would be classified as ore; and the cumulative grade of these ore blocks would be the average product grade over the life of the mine.Unfortunately, no such value function for iron ore is generally available. Methods for estimating the value function are discussed, using the spot price and sensitivities based either upon operational tolerances for Fe and the contaminants or upon published price differentials. This approach has been applied to an anonymous Pilbara deposit with about one million blocks averaging 1.1 kt. It is shown how the optimal target grade, cut-off grade and maximum tonnage can all be explored as a function of marginal cost and iron ore price. Alternatively, given marginal cost and an iron ore price, the effects of changing the tolerances (and therefore the relative costs of the contaminants) can also be explored.It is suggested this procedure can enable informed decision-making for an iron ore mine. Rather than setting final policy for the entire life-of-mine, the method enables target grades and tonnage estimates to be revised by re-computation as the mine life proceeds to recognise changes in market conditions and knowledge about the resource.It should be emphasised that this paper is concerned with ore selection rather than ore sequencing. Appropriate ore selection is a necessary but not sufficient condition for maximising value. Having identified the set of blocks that potentially maximise value, the sequence in which they are mined will present a trade-off between producing at constant grade and extracting high value ore early. The sequencing issue is not considered here. It is shown that optimum ore selection for an open pit mine is independent of any consideration of discount rates, although ore sequencing will depend upon the time value of money if the product grade is to vary across time.CITATION:Everett, J E, 2015. Ore selection to maximise value, in Proceedings Iron Ore 2015, pp 443–448 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Jul 13, 2015

By R Williams, P Kohout, J Comins

The Northside Storage Tunnel (NST) is the largest tunnelling project ever undertaken in Sydney. The tunnel extends deep underground from the western bank of the Lane Cove river to the North Head sewage treatment plant (STP), with a branch tunnel from Scotts Creek connecting to the main tunnel under Tunks Park. The aim of the tunnel is to intercept wet weather overflows from four key points along the northernsuburbs ocean outfall sewer (NSOOS) and provide short-term storage and transfer of sewage to NorthHead STP for treatment prior to discharge to the ocean through the deep ocean outfall. The project was an ambitious undertaking by an alliance between the client Sydney WaterCorporationand the engineering firms of Montgomery Watson, Connell Wagner and Transfield to design andconstruct approximately 20 kilometres of tunnel, tunnel declines and shafts in just over three years. In order to achieve this tight timeframe construction of the NST has been undertaken simultaneously at seven construction sites located across the northern suburbs of Sydney. As with most tunnelling operations, tunnel boring machines (TBMÆs) and roadheaders dominated the excavation activities. Tunks Park and North Head STP are the major tunnelling sites. An access decline was excavated using roadheaders at both of these sites to facilitate tunnelling using TBMÆs. Three TBMÆs 3.8 m, 6.0 m and 6.3 m diameter) were launched from Tunks Park and one TBM (6.5 m diameter) was launched from North Head. At the overflow interception sites of Scotts Creek, Lane Cove River and Quakers Hat Bay two vertical shafts known as drop and access/ventilation shafts were constructed. These shafts would provide the linkage between the existing sewer and the tunnel. As their names suggest the drop shaft would convey the wet weather sewage overflows to the tunnel while the access/ventilation shaft would provide access during dry weather and ventilation during a filling event. The fourth overflow site of Tunks Park would use the tunnel decline as its link to the tunnel. Originally these shafts were to be excavated using the raise bore method. This technique however, is entirely dependent on the TBMÆs reaching the shaft locations at the specified time. This was not the case at two of the three shaft excavation locations and top down methods of excavation such as, a percussive cone fracturing (PCF), blind bore, mechanical excavation and drill and blast were investigated to ensure the project met its completion schedule. Traditionally project decisions are dominated by cost and schedule objectives. The contractual arrangement of the Alliance however, required that the objectives of safety, community and environment also be considered in any decision making process. Thus each of these top down methods of excavation were assessed against these five objectives. On considering all of these factors the use of explosives was considered to be the superior technique.

Jan 1, 2001

By Muller M, Ashley PM

Massive sulphide ZnPbCuAg deposits in the Halls Peak district of northeastern NSW are of the submarine volcanogenic type. They occur as a number of small lenses enclosed in shale and epiclastic rocks, in association with felsic volcanics of early Permian age. The deposits crop out in steep terrain near the eastern edge of the New England plateau. Local relief of 700 m and slopes up to 50¦, coupled with an average annual rainfall of about 1000 mm has led to local severe landsliding in previously mined areas. Mining from the 1890's to the 1960's has also resulted in unconstrained drainage of heavy metal-bearing acid waters and physical dispersion of finer grained metalliferous sediments into the Chandler River. Waters emanating from the main landslide area, from underground workings and draining scattered unconfined stockpiles of massive sulphide ore have pH values of 3 to 4 and contain elevated contents of Zn, Cu, Pb, Cd and Fe. Chemical mobility of heavy metals into streams occurs under low pH conditions with Zn exhibiting the greatest dispersion. Increasing pH conditions downstream cause precipitation of Fe phases and coprecipitation of heavy metals. Physical dispersion of secondary metal-bearing minerals into the surrounding creeks results in wt% levels of Cu, Pb and Zn in the stream sediments thereby exceeding the regional background values by one to three orders of magnitude. Areas disturbed by mining are characterised by lack of vegetation, biomagnification of heavy metals into algae and lower plants, and partial recolonisation by metal-tolerant grass species (Snow Grass, Poa sieberana; Blady Grass, Lomandra longifolia). Rehabilitation measures will have to include landslide stabilisation, impervious sealing or removal of sulphidic materials, import of topsoil and revegetation by metal-tolerant, slow-growing native grass and shrub species.

Jan 1, 1995

Getting it right is a very profitable outcome. Shareholders would ideally like to see their directors get it right all the time on the major economic decisions. But it is very difficult for mining directors to get it right all the time in such an uncertain environment. Primary decision-makers of companies with significant stakes in the mining industry should get it right much more frequently. The legal measures of evidence (beyond reasonable doubt and on the balance of probabilities) can be used to determine whether grade estimates (a key revenue variable) are realistic. The application of this approach can be far reaching. More frequently correct decision-making would result in more effective allocation of limited resources (capital and labour). In turn, this would result in higher financial returns and a more extensive mining industry.

Jan 1, 1994

By N Steenkamp, L Furstenberg, W Cele, M Richter

Managing productivity and improving efficiency for a healthy return on capital employed have become key mining industry strategies under prevailing tough global market conditions. However, achieving this in a multisystem environment such as a mining operation can be daunting. The field of discrete event simulation offers some relief, giving engineering teams insight into multivariable systems and stochastic processes. It allows for integrated system thinking and domain expertise to be woven into project thinking fibre. Directed system optimisation and therefore improved efficiency becomes possible. Furthermore, capital discipline accrues from optimal upgrade investments. This paper illustrates the practical application of this approach by reviewing a typical case study for a direct shipping iron ore operation. Dynamic simulation was used to establish maximum processing plant capacity under varying material characteristics and identify capital-efficient upgrades for increasing production.The study started with descriptive statistical analysis of existing data. Discrete equipment and system capacities were defined, followed by static plant mass balance calculations to establish bottlenecks and overall static capacity. Equipment ‘uptime’ and ‘downtime’ analyses established system and overall plant availability and utilisation. From this information, a dynamic simulation model could then be developed and initially calibrated against actual plant performance to verify its robustness. Once confirmed to accurately represent existing plant dynamics, system capacity response to variable changes could be tested to ultimately determine maximum plant capacity. Additionally, plant optimisation was incorporated to arrive at optimal upgrade points. Maximum capacity and necessary upgrades were established as a function primarily of feed size distribution. Additionally, the interfacing effects of rehandling feed material to the final product grade and potentially to life-of-mine were established as important outcomes. The results of the study illustrate the value of using dynamic simulation models to realistically and cost-effectively increase throughput.CITATION:Cele, W, Furstenberg, L, Richter, M and Steenkamp, N, 2015. Capacity evaluation of iron ore processing facilities utilising dynamic simulations, in Proceedings Iron Ore 2015, pp 597–604 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Jul 13, 2015

Mining the Carpathia orebody at the Ardlethan tin mine in the late 1970s involved an innovative approach to underground mining which stretched the limits of drilling and blasting techniques. Holes of up to 95 m in length were drilled and blasted from the surface to extract an orebody which extended from 45 m to approximately 95 m below surface. This approach resulted in the elimination of an underground drilling sublevel, thus minimising the costs and hazards associated with underground drilling and blasting. Now, almost 30 years on, this method would probably still be the most appropriate choice.

Jan 1, 2008

The old Trekelano mining area is situated in the Cloncurry Gold and Mineral Field 14 km east-south-east of Duchess. It connected with the main Cloncurry-Dajarra railway line by a private line from Juenburra, a distance of 10 km. The distance by rail from Townsville is 561 km. The area was first mentioned circa 1902 - 1903 when a very short report said, that a Tony Allis had taken a parcel of copper ore out of a mine which, he called æThe InheritedÆ. After that report, nothing further was printed until about 1906, when traces of copper were noticed on a wagon track going to Kiama Well. The Trekelano deposit did not outcrop, with the cap covered by about two metres of soil. The deposit was named after an early pastoral holding. The early prospectors were however disappointed by TrekelanoÆs low copper grades, approximately five per cent Cu. This is understandable when, in those days, about 25 per cent was the cut-off grade for mines in the district. Meanwhile, The Hampden Mining and Smelting Company were constructing a smelter to treat their sulphide ores at Kuradala that was replacing their high grade oxides ore. By about 1910, the Hampden Mining and Smelting Company was experiencing smelting problems, and needed suitable oxidised copper ore to blend with the Kuradala pyritic ore. Someone must have remembered the Trekelano low-grade oxides, resulting in agreement to mine and cart the ore to Duchess, from where it was railed to Hampden, as Kuradala was known at that time.

Jan 1, 1998

Direct smelting of copper in a single vessel has long been the extractive metallurgist's dream. Such a process offers the important alvantage. of (i) maximum use of the energy available from oxidizing the sulphur and iron of the concentrate: (ii) restriction of SO2 emissions to a single constant-strength source; (iii) minimum materials handling and (iv) elim-ination of at least one process step. Extensive developmental work was carried out in the 1960's and 1970's to implement such single-step processes. Some of the processes reached the prototype stage and it appeared that copper smelting technology was on the thresthold of a new, efficient, minimum-pollution era. Since that time, however, the forward thrust has slowed and single-step copper smelting is still a process of the future.The paper describes the potential advan-tages of single-step smelting; its history and current status; and the reasons why it has not been adopted industrially. It concludes that the potential benefits of single-step smelting are powerful and that many of the difficulties encountered in the 1970's will be overcome in the 1980's.

Jan 1, 1985

By Sloan GJ, Lysnar RD

Since the of Bergstrand's Geo-dimeter in 1946, and Wadley's Tellurometer in 1956, there have been numerous Electromagnetic Distance Measurement (EDM) instruments produced throughout the world by a variety of companies.This form of measurement has not merely replaced other methods of measurement, but has caused considerable change of emphasis in survey techniques. Major control surveys are now being accomplished using trilateration instead of triangulation. The surveying of open cuts or engineering work may be done in a fraction of the time and, in the majority of cases, to a greater degree of accuracy than with older methods.It is surprising that with this new tech-nology and development of EDM equipment which is compact, easy to use and no longer so expen-sive, no advance has been made in underground surveying. If we look at equipment being used by the majority of mining companies, we see that there have been very few changes since the Second World War. Very little research has been carried out to enable the surveyor to do his work more easily in conditions which, at the very least. are hazardous.

Jan 1, 1984

The optimisation of capital in the total planning context has broadly two components: ò maximising the efficient utilisation of capital against competing capital demands; and ò maximising the efficiency with which the industry's capital requirements are sourced. This paper focuses on the latter of these two concepts, as I wish to highlight that within the coal industry the inefficient sourcing of capital has resulted in the inefficient utilisation of capital. In discussing the optimisation of capital within the coal industry I would like to outline three fundamental issues which currently impact the industry and its application of capital: Initially, from the perspective of an independent investor, the perceived risk associated with investing in a volatile industry cycle has not permitted appropriate funding structures to be created thus leading to an inefficient utilisation of capital. Secondly, investors seeking out a windfall gain have established a practice of trading in the assets rather than encouraging recapitalisation. And lastly the mismatch of supply and demand leading to the establishment of new projects which include a percentage of offshore investment has fostered an environment of lower returns and subsequently a dilution of capital.

Jan 1, 1991

The Ida Valley in Central Otago is one of series of parallel basins filled with freshwater sediments. The basins are in fact tectonic depressions superimposed on NE trending grabenlike structures which occur in the area and are the result of block faulting possibly initiated in Cretaceous times and concluded in late Tertiary and early Quaternary. In Central Otago this tectonic event affected metamorphosed rocks belonging to the eastern facies of the New Zealand Geosyncline and collectively known as the Haast Schist Group. These rocks constitute the basement and the shoulders of the tectonic depressions. The Ida Valley occupies the depression wedged in between the Raggedy Range to the NW and the North Rough Ridge in the SE. The valley is approximately 38 km long, 3 to 7.5 km wide and is drained by the NE flowing Pool Burn, which meets the SW flowing Ida Burn. The resulting unified stream flows into the Manuherikia river which drains the next door depression to the NW. The present work deals with the Ida Valley basin and more specifically with the geology studied within two Prospecting Licence areas held by Gold Mines of NZ Ltd on the southeastern flank of the valley.

Jan 1, 1977

The comminution process indicates that the most energy-efficient comminution system would be one where the particles leave the breakage field as soon as they reach product size. Contrary to the free falling gravitational (vertical) flow in crushers, the grinding millÆs energy efficiency essentially depends on ore characteristics and the discharge rate of broken particles, which in turn depends on how efficiently the discharge pump (grate and pulp lifters) operates. The essential function of a pulp lifter is to transport the broken material and slurry from the discharge grate out of the mill. Hence, the design optimisation of pulp lifters affects not only the energy efficiency and throughput of autogenous grinding/semi-autogenous (AG/SAG) grinding mills, but also contributes other process benefits such as improved wear life and operator-friendly steady and smooth mill operation. Following its introduction in 2006, OutotecÆs patented Turbo Pulp Lifter (TPLÖ) design has been retrofitted at existing sites and also installed in some new ones around the world. This paper will provide operational experience and data on how the TPLÖ design has allowed AG and SAG mills to operate efficiently.

Jan 1, 2009

By A Torpy, N C. Wilson

Improvements in electron optics, field emission gun design, and X-ray detector technology have led to the development of a new class of microanalysis tools. By combining multiple wavelength dispersive (WD) spectrometers, spectral energy dispersive (ED) spectrometers and cathodoluminescence (CL) data sets, a wealth of information can be collected during routine electron beam mapping and analysis. In this paper, data collection on a field emission electron microprobe equipped with five wavelength dispersive, two silicon drift energy dispersive X-ray spectrometers and a wavelength dispersive linear array optical spectrometer has been automated with the optical, electron and X-ray signals being collected in parallel. To analyse the large hyperspectral data sets we have implemented an autoclustering strategy that can be used to produce a quantitative chemical phase map. The cathodoluminescence spectra can be deconvoluted to produce peak intensity maps, which are then converted into elemental speciation images with quantitative sensitivity down to parts per million levels. Both methods are illustrated using typical mineral processing examples, firstly a Ni-laterite sample is investigated with the fine-scale distribution of Ni examined in detail. Secondly, a scheelite sample with rare earth zoning in mapped and rare earth levels quantified.

Jan 1, 2008

By B J. Andrew, M R. Daley

Mount Isa Copper Mines is a world-class mining operation producing approximately six million tonnes of ore per annum. With over 50 years of mining history and over 76 million tonnes of underground resource remaining there are many challenges facing the mine technical team today and into the future. The mine consists of nine distinct areas: the Hangingwall Lens, Footwall Lens, 1100, 1900, N1100, N1900, 3000, 3500 and N3500 orebodies. Each of these areas have different characteristics, requiring varying methods of mine design and ground control for safe and efficient orebody extraction. Each of the areas operate with an independent sequence whilst interacting with the entire underground operation. Within the first five years after graduating mining engineers tend to orient their careers in either a technical or operations direction. Engineers working towards a specialised technical career will often be working as mine planning engineers, whilst others more focused in the operations stream occupy roles such as operations or project engineers. At this stage of a mining engineerÆs career they are not yet categorised into one stream or another, but career decisions made now can generally focus their ultimate career path in one direction or the other. Due to the size of the Mount Isa operations there are many opportunities for engineers pursuing both career path and plenty of room for growth forthose as yet unsure.

Jan 1, 2005

By M S. El Salmawy

In order to develop the HF-free flotation reagent system, the main objective of this investigation was to study the possibility of separation of quartz from feldspar using non-ionic surfactants as the collector. The non-ionic surfactants used were polyoxyethyl cethyl ether (PECE) and polyethylene glycol monocethyl ether (PGME). The flotation behaviour of quartz and microcline with PECE and PGME was investigated. Each surfactant was a good selective collector for quartz with its recovery being influenced by pH and surfactant concentration. Quartz is floated favourably by both types of polyoxyethylene non-ionic surfactant whereas microcline was not so much. The floatability of quartz increases as the oxyethylene length of surfactants increases. Zeta potential measurements in the system of PGME/mineral were also carried out. It was determined that in the absence of PGME the points of zero charge for quartz and microcline should be approximately at pH 2.5 and 1.8, respectively. The addition of PGME to the system causes both minerals to become less negatively charged. Differences in the zeta potential value between quartz and microcline, in the presence of PGME, were detected. It can be suggested that the interaction of the oxyethylene group to the microcline surface should not be as strong as that to the quartz surface. In the mixed surfactant system of PGME and dodecylamine acetate (DAA), a small addition of DAA causes drastic enhancement of quartz flotation in the wide pH range of 1 ~ 10. In the mixed surfactant system selective flotation of quartz from microcline would be anticipated at pH

Jan 1, 2005

By Dixon CA

In the early 1970s, Jim Walter Resources, Inc. (JWR) embarked on a coal mine expansion program that was unparalleled in the history of the United States. With a small nucleus of people then operating two rapidly depleting captive mines, action was initiated to develop four of the deepest mines in the United States. Because of the depth of these mines, operational and technical problems were anticipated. However, because of the high quality of the coal (Blue Creek Seam), the financial risks involved were acceptable. The total investment to get the expansion program completed (to get the new mines to full capacity) would represent an investment of over US$ 500 million.By the end of the decade of the 1970s, the Company had grown to 2100 employees who were producing 1640,000 tonne of saleable coal per year, a productivity rate of 3.9 tonne per man-shift. This productivity rate was not sufficient to maintain a profitable, viable organisation. Therefore, if the operations were going to survive, it would be necessary to improve productivity tremendously, a task which would tax the resources and imagination of all employees.

Jan 1, 1991

Companies involved in the mining industry are exposed to risks, referred to as corporate risks, as part of the business process. Directors and management should be aware of these risks and make appropriate business decisions to address each risk. If business risks are not addressed on a timely basis the consequences are likely to be serious and will adversely impact the ultimate success of the business.The key corporate risks are:Poor cash flow and treasury management. ò Incompetent or unmotivated staff.ò Poor product quality.ò Accounting systems that do not provide meaningful and timely information.ò Computer system deficiencies. ò Ineffective credit screening.ò Assets not adequately protected.ò New ventures undertaken that are either inappropriate or not adequately researched.Exposures to corporate risk should be dealt with by Directors and management by systematically identifying major risk areas and implementing appropriate internal and management controls to deal with such risk areas. Proper management controls and procedures include the setting of overall corporate objectives and policy, monitoring adherence to such policy, establishing early warning systems to highlight problem areas and maintaining security over assets.

Jan 1, 1990