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By White A. H, Gillies A. D S

In recent years the Australian gold industry has gone through a major expansion phase. The need for finance has led to adoption of different approaches such as the well known gold loan, forward selling, equity participation by suppliers and equipment leasing. During early periods of the expansion, significant new equity was raised chiefly for high risk exploration ventures. The major form of new equity finance was ordinary shares, often in 'No Liability' companies. The increasing capital requirement of the huge new development projects of the 1980s also spurred the use of debt finance. This trend was accelerated as high inflation and the taxation advantages of debt finance made borrowing attractive. This paper reviews major financing techniques used by the Australian gold industry with particular emphasis on the innovative financing techniques initiated recently. An analysis has been undertaken of the effects on the industry of issues such gold loans, forward selling, equity participation by suppliers, fly-in fly-out operations, contractor mining and equipment leasing. In order to achieve a better understanding of the innovative financing techniques, a survey of already published financial data from well known Australian gold mines was carried out. Data was collected from various published financial reports of gold mining companies. In addition, a questionnaire survey was sent to gold mining companies to assist the collection of further information. The results of this study show that there are a significant number of gold mines variously using gold loans, forward sales, contractor mining and fly-in and fly-out arrangements to finance their projects. Only four operations have vendor suppliers investing capital funds in their projects. Based on the findings of this study, conclusions and recommendations are drawn that these approaches are likely to be with Australian gold industry for some time in the future and will continue to be intensively applied to finance gold projects.

Jan 1, 1994

By S Wan, F Zhang, J You, K Tang, X Tang, C Bessada, A Canizarès, Q Zhang, L Lu

Microstructure of CaO-SiO2-based glassy samples with various Al2O3 contents were examined quantitatively by Raman spectroscopy and 27Al MAS NMR (magic-angle spinning nuclear magnetic resonance). Sequence of multiple cluster models of aluminosilicate system modified with Ca2+ and Na+ cations have been designed, and Raman spectra simulation were carried out after geometric optimisation by quantum chemistry (QC) ab initio calculation. The functional relationship between Raman scattering cross-section (RSCS) and stress index of silicon-oxygen tetrahedron (SIT) for aluminosilicates was established, which was applied to the calibration of experimental Raman spectra. Some five-fold coordinated aluminium (AlV, around 5 per cent) and less than 2 per cent sixfold coordinated aluminium (AlVI) were detected by 27Al MAS NMR, while most of aluminium remained in tetrahedral sites (AlIV). The hyperfine quantitative results of Raman spectroscopy and NMR showed a gradually production of AlIV with addition of Al2O3, along with the significant adjustment of Qi species distribution, in which Q1, Q2 reduced and fully polymerised Q4 increased while Q3 showed a non-monotonic variation and obtained the maximum at Al2O3 = 18 mol per cent. Furthermore, the effects of aluminium to bridging oxygen bond types (T-Ob, T = Si, Al) and the degree of polymerisation were also discussed in detail. The evolution of microstructure and its correlation with the viscosity of CaO-SiO2 based melts, incorporating various Al2O3 additives, have been investigated by employing in situ high temperature Raman spectroscopy at 1823 K and viscosity model. These structural features related to composition are essential theoretic foundation to understand their properties. The average Qi evolution culminates in an overall enhancement of the degree of polymerisation. Viscosity was determined utilising a rigorously selected viscosity model, elucidating a consistent upward trajectory as Al2O3 content is incrementally added. Furthermore, a quantitative analysis of the relationship between viscosity and structure was conducted based on the average number of non-bridging oxygen per network-forming tetrahedron (NBO/T). It provides valuable insights for examining and predicting viscosity behaviour of aluminosilicate systems.

Aug 21, 2024

Between 1966 and 1976, Australia moved from being a non-producer to a position of meeting more than ten per cent of world nickel demand. New mine developments beginning the early-1990s have the promise of more than doubling the country's world market share - from around eight per cent to perhaps close to 20 per cent. This new surge in activity - the so-called `second nickel boom' - has led to several developments which seem likely to have similar economic impacts to those of the late- 1960s and early-1970s. There are, however, some notable differences this time around. The impact of long distance commuting over the past 30 years has changed the regional development scenario. The gold industry is much stronger in Australia than it was in the late-1960s and this helps to place the importance of new nickel discoveries in a more realistic perspective. As potential players have jockeyed to complete feasibility studies and move into construction and production phases of new long-life mines, established suppliers clearly seem to be taking actions to discourage the newcomers. In what appears to be a classic oligipolistic market situation, the heightening of perceived entry barriers to the industry appears to be a particularly visible strategy undertaken. In the current scenario as well, greater vertical integration among producers appears a significant influence on market power.

Jan 1, 1996

By B Yang, L Wang, C Y. Ng

Flotation process intensification is often achieved through changing chemical reagent scheme or flotation machine or both, which likely brings a hefty burden to the flotation plants in terms of capital or operating expenditure. A novel approach to flotation process intensification is the use of acoustic sound, which has been demonstrated to be effective in improving the flotation of various mineral systems with different type of flotation cells. This approach was based on the dynamic stabilisation effect of acoustic sound on the flotation froth. The present work aims to understand the influence of various experimental conditions on the effectiveness of the approach. First, the effects of sound frequency and amplitude were studied with column flotation of silica particles. Results showed that the flotation performance was improved only within a certain range of frequencies and above certain amplitude. The study was then extended to the mechanical flotation of quartz particles with various size ranges and at two solids concentrations. With sound, the recoveries of different size fractions within the range of 20–212 μm were all increased. In particular, the recovery of 150–212 µm particles was increased from 0 per cent to approximately 25 per cent, demonstrating the potential for extending the upper limit of particle size in flotation by using acoustic sound. Furthermore, mechanical flotation of chalcopyrite particles at various collector dosages (50–150 g/t) was carried out with and without sound. Results showed that the increment of the final flotation recovery was increased with sound at different collector dosages. Overall, acoustic sound has the potential to be used as an effective and versatile method for flotation process intensification.

Aug 24, 2022

By R C. A Minnitt

The two methods for calibrating the parameters K and (alpha) for use in Gy’s equation for the fundamental sampling error (FSE), the duplicate sampling analysis (DSA) and the segregation fractionalised analysis (SFA) are described in detail. A case study using identical broken reef material from a Witwatersrand-type orebody is calibrated using the DSA and SFA methods and the results are compared. Classically, the form of Gy’s equation for the FSE raises the nominal size of fragments given by dN to a power of 3. Gy’s formula is a theoretical formula applicable in the case when fragments are randomly collected one by one, which is obviously never the case. This is because the fragment shape factor (f) and the granulometric factor (g) were introduced to take care of this anomaly. More recent formulae, such as those suggested by François-Bongarçon and Lyman, are empirically based formula. A later modification of Gy’s formula raises dN to the power ? (alpha), the latter term being calibrated with the coefficient K in the DSA and SFA methods. The preferred value of ? (alpha) for low-grade gold ores used by sampling practitioners in the mining industry is 1.5. A review of calibration experiments for low-grade gold ores using the DSA and SFA methods has produced values of K that vary between 70 and 170 and values of alpha in the range 0.97 to 1.30. The average value for alpha is found to be 1, rather than 3 as originally proposed in the classic form of Gy’s equation or the industry preference for 1.5. It is suggested that for low-grade gold bearing ores, the equation for the FSE should raise dN to a power of 1. Such an equation for the variance of the combined FSE plus the grouping and segregation error, now referred to as the short-term component of the quality fluctuation error (QFE1), greatly simplifies the characterisation of gold ores, which now only requires the calibration of K for a given mass and established fragment size. The implications for the heterogeneity test from the generalised equation are that provided the fragments have been screened to within a narrow size range, any particular size will return a value for K that is acceptable for use in the sampling nomogram.CITATION:Minnitt, R C A, 2017. A generalised form of Gy’s equation for gold ores – empirical evidence, in Proceedings Eighth World Conference on Sampling and Blending , pp 331–350 (The Australasian Institute of Mining and Metallurgy: Melbourne).

May 9, 2017

By K Dudley, D Readett

The design of entrainment control processes in copper SX plants has been studied by use of models based on achievable plant performance. A number of alternatives have been assessed for their suitability in minimising the transfer of deleterious species from PLS into the electrolyte. The position of the wash (scrub) stage in the circuit, either before or after the loaded organic tank, has been the subject of considerable debate. The modelling shows that at ænormalÆ entrainment levels, the performance of the circuits are very similar. However at high entrainment levels the selection of the wash after the loaded organic storage has significantly lower transfer of contaminants. When considering the inclusion of a loaded organic coalescer the results of the modelling again show that the best circuit has the loaded organic storage/coalescer before the wash stage. The overall control of EW contaminants includes both a wash stage and an EW bleed flow. The total water use for these two flows is shown to go through an absolute minimum. The minimum flow rate is not greatly dependant on the total entrainment from the SX settlers. This can be a useful operating strategy if the quantity of high quality water for make up is limited by the capacity of the water treatment plant (eg RO). However the minimum cost option is to maximise the flow of water to the wash stage and minimise the EW bleed stream. The main driver for this is the cost of the cobalt sulphate contained in the electrolyte. Some results from the latest circuit modifications at the Nifty and Girilambone Copper Projects are presented to confirm the benefits of using both coalescing systems and a wash stage. The EW bleed has been reduced to a level that is less than the loss internally in the SX stage to stage entrainment. There has been an occasional need to add chloride to the EW to maintain sufficient concentration to act as a growth modifier.

Jan 1, 2002

From depths of 400 - 600 m, coal is transported by a conveyor in a drift or a bulk winder in a shaft, whilst men and/or materials are transported by a slope hauler or a cage winder. Assessment of the effect of alternative combinations on the key cost factors - output, capital, labour cost and construction time - allows the optimum choice for particular circumstances, there being no uniform solution.

Jan 1, 1976

By P Wahyono, H Vega, S Riza, P Vergara, P Gonzalez-Carbonell

PT Freeport Indonesia (PTFI), operating in the Ertsberg Mining District in the Province of Papua, is developing the Grasberg Block Cave copper-gold mine. The site aims to output 160 000 t/d and will be located underneath the current Grasberg Open Pit. Initial studies of the potential to develop a block cave mine in the Grasberg orebody have revealed that the mine will require significant volumes of air. The Grasberg Block Cave (GBC) project requires four primary fans (3750 kW each) to support production at full capacity.Fan #1 commissioning was accomplished successfully on 9 February 2012. However, Fan #2 chamber, which is separated by a 20 m pillar, had not been completed. The main challenge was Fan #2 chamber still needed to be benched. The risk of damage to the critical infrastructure in Fan #1 chamber, including ground support, cracks in pedestals, and misalignment in the impeller shaft were considered. The challenges were blasting the bench without damaging the surrounding infrastructure, completing the work safely and meeting the schedule. This was achieved with the engineering control methodology. This paper summarises the benching process of Fan #2 chamber and its impact upon Fan #1.CITATION:Vega, H, Riza, S, Gonzalez-Carbonell, P, Wahyono, P and Vergara, P, 2013. Excavating an underground primary fan chamber that is adjacent to a fully operational primary fan in PT Freeport Indonesia's Grasberg Block Cave Mine, in Proceedings The Australian Mine Ventilation Conference , pp 115-122 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Jul 1, 2013

Exploration for uranium in Australia commenced only during the 1940s, but in this short period has been very successful as one third of the world's low cost uranium reserves have been discovered in Australia. Total uranium exploration expenditure in Australia up to the end of 1983 was $A(1983) 554 million; this discovered 20 potentially economic deposits and official reserves of 560 000 tonnes of uranium oxide at an average cost of $1 per kg of U 0 . An exponential 8 eserves indicates distribution of uranium r that there could be 54 undiscovered uranium deposits in Australia, each with reserves of 20 000 tonnes U308 or more, in addition to smaller deposits. Using a constant uranium price of $A(1983) 79 per kg, no deposit is economic at a grade below 0.12 per cent U 08 or with reserves of less than 3 000 tonnes. Selecting deposits with reserves of 5 000 tonnes U 0g or more as prime exploration targets, only 39 per cent of discoveries will yield a real internal rate of return (IRR) of 10 per cent or more. After committing a minimum exploration budget of $10 million to this search, an explorer has one chance between 7 and 12 of discovering a deposit that will repay the exploration investment.

Jan 1, 1984

By R Halatchev

Production scheduling optimisation in open pit gold mining is a complex problem as it is driven by economic criteria reflecting particular economic interests of the concerned parties in the mining business. The contemporary organisational forms of mining, such as owner-operator and contract mining, are a good example of this relationship. These forms are complex and contradictory by nature as the contractor aims to get more waste at the beginning of mine exploitation in order to make more profit with favourable discounting effect over time, while the owner-operator aims to mine less waste at the beginning, which is a precondition for implementation of the mine planning principle of waste deferment and maximising the net present value (NPV) by accounting for the time value of money. Both forms are vital for the successful performance of the Australian mining industry as their competition is a powerful driving force of the market-oriented national economy.The present paper offers a new vision about the economic effectiveness of contract and owner-operator forms in surface gold mining through the prism of a novel production scheduling approach with a multistage stabilisation of the mining rate that implements the mine-to-market concept of modelling. The comparison of the forms is demonstrated with a case study that reveals the specific features of the new scheduling approach and the benefits of its implementation in the exploitation of Australian gold resources.CITATION:Halatchev, R, 2013. Owner-operator versus contractor production scheduling - a vision for the effective exploitation of Australian gold resources by surface mining, in Proceedings World Gold 2013 , pp 255-266 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Sep 26, 2013

By T E. Norgate

Salinity in Australia is caused by over irrigation and land clearing for agricultural use over the last 100 years. It is now the biggest threat to the quality of land and water in the Murray Darling Basin and Western Australia. Pumping the saline waters straight into the ocean or transporting the solid residue (mainly sodium chloride) to the ocean after evaporation of the water is expected to cost the taxpayer millions of dollars every year. This paper proposes that the salinity problem of Australia, at least in part, can be converted to an asset rather than a liability if it is exploited and used to make value-added products. The more value made out of saline waters, the more saline water is processed and therefore the more salt is extracted from the land. The value-added products that can be made out of saline waters are numerous and diverse. Rough calculations show that value addition to the saline waters could potentially generate up to $A 200 million per annum business in the Murray-Darling Basin. Although it is a challenge to make cost competitive products and find markets for these products it is possible that up to $A 100 million per year may be gained from import substitution. Value addition to salinity would also reduce the threat on the environment and existing agricultural industry. Investment to add value to salinity will create business in the region, nurture the local small population communities, and increase services and long-term employment.

Jan 1, 2002

Many persons hold the opinion that the metal indus- ries are fortuitous and that the occupation is one of sordid toil, and altogether a kind of business requir- ing not so much skill as labour. But as for myself, when I reflect carefully upon its special points one by one, it appears to be far otherwise. So wrote Georgius Agricola in 1556. He could have been espousing the sentiments of an indus- trial archaeologist investigating mining sites in 1986. South Australia has a very rich legacy from its industrial past-especially in the area of its mining history. Industrial archaeology, which is part of the broad field of archaeology, is concerned with the material and documentary remains of this industrial past. This includes the products and processes of manufacturing, industrial, technolog- ical and engineering activity and their relation- ships to people and the environment. `Archaeology' immediately conjures up the image of excavations in Greece or Eygpt. Excavation however is only a part of archaeological methodology. Industrial archaeology utilizes documentary historical rec- ords combined with field survey techniques (both above and below ground) to create a composite picture of the past. Interest in our recent past has burgeoned in Australia in the last few years. This interest manifests itself in many ways-the unprecedented popularity of Australiana and col- lecting, the plethora of Australian historic films, the growth of the National Trust, local historical societies and genealogical research. Fortunately these trends have been reflected in academic and legislative circles. Various univers- ities, institutes of technology and colleges of advanced education run courses in aspects of cul- tural resource management and conservation of the historic environment. These courses are com- prised of archaeology, architecture, geography, his- tory, materials conservation, museum studies, and national parks management and planning.

Jan 1, 1987

By Seymour C. A

Peak Downs Mine, a five million tonnes a year coking coal operation, strip mines a, series of Permian coal seams. Seam thickness ranges from 0.5m to 5.0m, and seams consist of multiple coal plies with intermediate shale and mudstone partings. Four 47m3 draglines strip overburden to a cover depth of up to 60m. Coal loading is by 12m3 shovels and 14m3 to 18m3 front-end loaders. Parting removal takes place where the layer of shale and mudstone between seams exceeds 0.3m in thickness. Parting has been removed by a wide variety of earthmoving equipment in order to evaluate the problem and to select the optimum method from an operational and economic standpoint. Multi-seam stripping of the thicker seams is accomplished by working draglines from spoil- pile benches. Coal seams thinner than lm are recovered by dragline and stacked in the pit for later loading.

Jan 1, 1974

By Propster M, Choudhry M

THIS note gives comments on the paper by Kitaev et al on p. 68 of this book and compares results with those obtained by ourselves. We wish to say that the authors are to be congratulated on their sophisticated approach to an important problem and that it complements our efforts on flow maldistribution.1-5 It is our view that Eqs. (1)-(5) on p. 69 are impressive, but unfortunately with present day computers and computational facilities, it would be quite impractical to contemplate the numerical solution of these. Eq. (8) in the authors' paper, on p. 70, does provide the logical starting point for tackling flow maldistribution problems and strictly speaking this equation is more accurate than Eq. (1) in our paper in this book. We note in passing that there is direct experimental evidence to support the contention that our Eq. (1) is at least a reasonable approximation and one may question in a practical sense whether the refinement afforded by Eq. (8) in the paper by Kitaev et a/ is justified. While one must readily accept the appropriateness of Eq. (8) of Kitaev et al as a starting point, the subsequent mathematical manipulation by the authors is open to serious criticism. In order to solve this complex, non-linear equation Kitaev et al postulated irrotational flow, which afforded considerable simplification. One can argue simply on physical grounds that the assumption of irrotational flow is inappropriate, a fact which should be readily apparent on inspection of the flow fields shown in Figs. 2 and 3 of Kitaev's paper. It follows that while the starting point through the use of Eq. (8) is correct the results derived from this starting point may be suspect because of the erroneous nature of the irrotational flow assumption.

Jan 1, 1975

By B Besa, E K. Chanda

It has long been recognised that narrow vein mining needs innovative approaches to mine access and mining methods in order to improve the economics of this vital part of the mining industry. The mining equipment used currently requires large openings in narrow vein-type deposits making mining operations uneconomical. In view of this and other shortcomings of the current mining practices, a study was initiated to investigate the potential of using low profile electric loader with mounted conveyor in conjunction with the electric monorail haulage system (EMTS) to load and haul the blasted material, particularly in decline development and main haulages. Computer simulation based on the General Purpose Simulation System/Henrikson (GPSS/H) is used to model the system and evaluate its performance. The results are compared with those for conventional mining using trucks and loaders. The EMTS provides competitive haulage rates in substantially smaller excavations than is currently achievable. According to simulation results, the electric loader in conjunction with the EMTS had the same number of blasts as the conventional system and hence the same advance rate of 3.33 m per 12 hour shift. Furthermore, the total drill-blast-load-haul cycle time was less than the conventional system by one hour.CITATION:Besa, B and Chanda, E K, 2012. Evaluation of low profile electric loader in conjunction with electric monorail haulage system in narrow vein mining, in Proceedings Narrow Vein Mining 2012 , pp 221-228 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Mar 26, 2012

By Ichinose M, Tsuru T, Gotoh K

Since 1980, the Department of Mining Engineering at Kyushu University, in co-operation with the Ikeshima Colliery, Matsushima Coal Mining Co. Ltd., has been conducting a research project into longwall gateroad designs applicable to deep and poor strata conditions. During this period, the economic environment has drastically changed the situation of the domestic coal mining industry. Conventionally, the retreat longwall method, with re-use of gateroad, has been employed as it achieves higher recovery. However, from the view point of production efficiency, this method is not suitable because it requires intensive work in side packing and roadway maintenance. Therefore an interpanel-pillar system, or a two-entry gateroad system, was adopted to identify the factors responsible for excessive vertical closure in longwall gateroads. Field measurements and non-linear finite element analyses were undertaken to confirm the performance of this system. Study results indicate that the stability of the gateroad employing the rib pillar system is comparable to that of the conventional system of re-using Gateroads.

Jan 1, 1992

By He F, Zhu D

How to monitor and control the support and surrounding strata system on a longwall face effectively is one of the major research problems in ground control. Based on observations on movements of the support and surrounding strata of face No. 2703 of Dongpang colliery, the relationship between the downtime related to support and surrounding strata and other influential factors is analysed systematically in this paper. Monitoring indices and control measures are then determined by taking corresponding downtime as an objective function. When the monitoring method, developed from the above findings, was used on face No. 2703, the downtime due to support and surrounding strata was remarkably reduced, and the face advanced Normally.

Jan 1, 1992

By D E. Thorp

The mining and concentration operations of New Zealand Steel have been carried out initially from the Waikato North Head (WNH) deposit since 1969 and subsequently from the Taharoa deposit since 1972. Over the years the WNH operation has produced about 1.2 million tonnes of concentrate which has been converted into steel, while total exports to the Japanese Steel Industry from Taharoa reached five million tonnes in February of this year. Recent expansion plans both in domestic steel production and in the ironsand concentrate export market have made it necessary for the company to look closely at, among other areas, the mineral processing of the titaniferous ironsands in both deposits. This paper deals with the recent test work carried out at WNH and Taharoa on the use of the cone concentrator unit as a primary gravity concentrating unit ahead of the magnetic separation stages and as a cleaner concentrator following the primary magnetic separation.

Jan 1, 1977

By Cutmore NG

The moisture content of iron ore is important in handling, stockpiling, transport and further processing operations. Typically these ores contain both `free' and `bound' moisture, the latter being moisture that is not removed in a conventional laboratory determination of moisture by air drying at 105¦C, and it is the free moisture that is important in dust control and ore handling. The CSIRO Division of Mineral and Process Engineering has previously developed and commercialised gauges, based on capacitance and microwave techniques, for the on-belt determination of moisture in coal and minerals. However, these gauges determine total moisture, and have a different sensitivity to free and bound moisture in the material analysed. Consequently, the accuracy of determining total or free moisture alone may be significantly affected by variations in the bound moisture content. An investigation has been carried out on the simultaneous determination of free and bound moisture in iron ore fines (

Jan 1, 1993

By G T. Hefter, P Singh

Sulphur dioxide oxidation is an attractive alternative anodic reaction to the evolution of oxygen in copper electrowinning. Accordingly, the electrochemical oxidation of SO2 in aqueous 1.0 x 10-1 mol/L NaClO4 has been studied at pH 2.3 using platinum and glassy carbon electrodes. On the platinum electrode SO2 oxidation occurred on the forward scan at 0.96 V and on the reverse scan at 0.63 V. For GC, a single SO2 oxidation peak occurred at 1.40 V on the forward scan. SO2 oxidation on both electrode substrates was hampered by oxide layer formation. The electrode could be reactivated however, by oxide layer reduction. Although reactivation was most successful for platinum, SO2 oxidation on platinum is quite complex, with this evidenced by the reverse scan anodic peak. Glassy carbon shows simpler behaviour and thus, is the preferred substrate for SO2 oxidation.

Jan 1, 1998