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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 W Polkowski, M Tangstad, M Wallin, J Jiao

Fe-26Si-9B (wt per cent) alloy has been identified as a potential high-temperature phase change material (PCM) due to its attractive properties, such as its high latent heat of fusion and low volumetric change during solid/liquid transition. For the successful utilisation of this alloy into thermal energy storage (TES) systems, the development of a cost-effective production method is essential. Presently, the Fe-26Si-9B alloy is produced by mixing FeSi alloys with either pure boron element or FeB alloys. However, the use of pure boron is financially prohibitive, and the carbothermic reduction results in high greenhouse gas emissions and high energy consumption in the production of FeB alloys. In this regard, our study proposes a silicothermic reduction method to produce Fe-26Si-9B PCM by using FeSi alloys and B2O3-based oxides. Accordingly, the influence of various parameters on the production process was investigated, including operating temperature, holding time, B2O3 content in the added oxides, and initial Slag/Metal (S/M) ratio. Based on the experimental results, the optimal parameters for producing FeSiB alloys with over 9 wt per cent boron were determined. Consequently, it was documented that the FeSi alloys and the added oxides enriched with 50– 65 wt per cent B2O3 should be subjected to temperatures ranging from 1550–1650°C, maintain an initial S/M ratio exceeding 1, and ensure a holding duration beyond 1 hr. Moreover, the energy consumption of this process was estimated to be ~1.86 MWh/t metal and the mass loss was lower than 7 per cent. Therefore, silicothermic reduction offers a sustainable approach for producing FeSiB alloys with a boron content above 9 wt per cent.

Jun 19, 2024

By S R. Williams

There is a sense of geometallurgy being new; a new methodology for mining project development and improved operational strategy. One of the main challenges that any ænewÆ technology faces is a validation of the value and the need to produce case studies. However, producing case studies can often be problematic particularly given the long cycle from mineral deposit project, through feasibility and construction to stabilised operation of a mine.However, the roots of geometallurgy go back quite some time. Successful practices with geometallurgy can be seen from as early as the 1980s. Many times those practices were not called geometallurgy but something else and, in other cases, what can be seen are various components of the geometallurgical ævalue chainÆ.This paper will analyse a selection of published past practices from a geometallurgical perspective to demonstrate the value realised from the application of this methodology. The paper will then make some general comments on where this history of work in geometallurgy has lead us to and what are the challenges today for the geometallurgical effort.CITATION:S R Williams, 2013. A historical perspective of the application and success of geometallurgical methodologies, in Proceedings The Second AusIMM International Geometallurgy Conference (GeoMet) 2013 , pp 37-48 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Sep 29, 2013

By J P. Sykes, A Trench

"The common-held view of the future of copper mining is one of declining quality of mineral resources and increasingly limited long-term development options. This decline, in turn, is viewed as inevitably leading to increasing economic, socio-political and environmental costs. As a result, new technologies and innovations will be required to mitigate cost escalation. The future is therefore typically summarised as a battle of a ‘below-ground’ declining quality asset base pushing costs upward versus ‘above-ground’ technology and innovation driving costs downward. The role that high quality new mineral discoveries could play in mitigating industry cost pressures is typically understated, if considered at all. New high quality discoveries can be mined at lower cost than existing assets and potentially if discovered in the right locations within a more amenable contemporary environmental and socio-political setting. Such deposits, once discovered, would improve the overall quality of the industry asset base, as well as benefitting their owners substantially through higher margins. However, to target new high quality deposits explorers need some understanding of the nature of high quality copper mines in the long-term future. Conventional scientific and economic techniques for analysing the future of copper supply, generally by studying the project pipeline, ignore as yet undiscovered resources and also struggle to fully incorporate the multiple internal and external factors that could impact upon copper mining practices in the future.Scenario analysis is specifically designed to consider multiple factors interacting in the future, and is thus more creative than simply looking at the visible project pipeline. The use of scenarios is therefore potentially capable of providing insight into aspects of the future of copper mining about which little is currently known or that remains considerably uncertain. In this study, the Oxford University Scenarios methodology was employed to analyse different plausible futures for copper mining and the consequent implications for exploration targeting strategies. The scenario analysis highlights two key dimensions or axes that serve to map out potential industry futures: firstly the technical and economic optimisation of the existing industry; and secondly the generation of new prospects or ‘search space’ for the copper industry. These two axes in turn frame four different scenarios for the future of the copper mining industry. These copper mining scenarios are then compared to the 20 largest existing copper mines and projects, and their owners, to determine if any represent an appropriately robust exploration targeting proxy: none do. The paper therefore concludes that efforts by industry are required to generate mine concepts that would be viable across all scenarios, and thus act also as exploration targeting proxies. In the interim, companies will have to seek to build portfolios that create an overall robust asset base, out of individually less robust assets. Failure to do this implies that consequential, irreversible strategic decisions lie ahead for the copper mining industry, which may be a threat to both incumbents and the very industry itself. This situation makes strategic exploration targeting in the copper industry very difficult.CITATION:Sykes, J P and Trench, A, 2016. Using scenarios to investigate the long-term future of copper mining and guide exploration targeting strategies, in Proceedings International Mine Management Conference, pp 265-290 (The Australasian Institute of Mining and Metallurgy: Melbourne)."

Jun 22, 2016

The Northparkes E26 Mine is AustraliaÆs first block cave mine. This paper presents an outline of the design and construction philosophies that drove the project development and details the excavation, ground support and construction methods used. Features of the block caving method at Northparkes include:high production rates from multiple drawpoints;hard blocky ore fractured along gypsum veins; andloading/unloading of openings due to mining induced stresses.The drawpoints are subjected to high abrasion from the flow of ore, as well as impact from both secondary blasting and from the production LHDs. In order to withstand these harsh conditions and to ensure a low maintenance environment, a conservative approach to ground support was taken. The experiences gained during construction are discussed and whether the design expectations have been achieved. By installing a high level of ground support during excavation of the openings subject to mining stresses, a low maintenance environment has been constructed. Operating costs are therefore minimised and Northparkes E26 Mine continues to produce at the lowest cost per tonne of all Australian underground mines.

Jan 1, 1999

I have headed this paper with a question and for the impatient among you ûthe answer is no we have not run out of developments but, and it is a big æbutÆ, we need to be innovative and ahead of the game or ænoÆ will be æyesÆ before we know it.Why do I believe that our future lies in innovation? Thirty years ago, knowledge doubled every 14 years. It is now doubling every seven years. In 1965, Gordon Moore, one of the founders of the chip maker Intel, made an observation that growth in memory chip performance is doubled every 18 months which became known as MooreÆs Law. Now there is fibre law, where the transmission line capacity doubles every nine months and storage capacity, under disc law, doubles every 12 months. What does this mean? Well, firstly there is a massive rise in information flow and availability with no limits in growth for at least the next ten years. Secondly, unlike our grandfathers, we are most unlikely to be employed by the same firm for our working career - we may not even have the choice to stay with the same company. In a phenomenon Richard Foster and Sarah Kaplan (2001), borrowing from Schumpeter, termed æcreative destructionÆ, companies are unable to sustain market-beating levels of performance for more than ten to 15 years. In the 1920s the turnover rate of companies in the United States was 1.5 per cent, so a company could employ almost three generations from the one family. A company had a half life of 60 years. In other words, you could well be in the same working environment as your grandparents. Today the churn rate is estimated to be eight to ten per cent. A company has a half life of five to six years. So for large companies, as an employer or employee or as a contractor, your working environment has a 50 per cent chance of changing in five years. Innovation is the driver of this rapid rate of change. Innovation is not for the faint hearted (Cutler, 2001) but it is the core for success in the global economy. The rate of change in our world is not going to decrease. We must learn, not only to manage change, but to enjoy the process of changing û to ride the tsunami of the knowledge economy.

Jan 1, 2002

By M E. Barley, A D. George, M Kneeshaw

Detailed pit and outcrop mapping of sedimentary rocks and their alteration is providing insights into fluvial processes that operated during deposition of the world-class Yandi channel iron deposit. Five prominent rock units are traceable along the strike of the Yandi deposit and permit correlation of open pits and mesas. These units are the Eastern Clay Horizon (ECH), granule-pebble conglomerate (GPC), Main Ore Zone (MOZ), Basal Denatured Zone (BDZ), and Basal Conglomerate (BCONG). The upper part of the deposit is characterised by a transition from spheroidal grains with well-defined rims and nuclei to larger, subangular grains with poorly developed rims. The distribution of rock types and sedimentary features such as lateral accretion surfaces, channel scours and fills, graded bedding, cross-bedding, reworked horizons, and slumped strata are common at Yandi and indicate deposition in a fluvial system. Bedding is well preserved despite modification of original grain shapes and textures and introduction of secondary silica and alumina in the upper part of the deposit. The high lithic and clay content of the GPC and ECH possibly reflect changes in source area or a hiatus in deposition of the Marillana Pisolite. The MOZ and the BDZ may be the same depositional unit with the latter recording alteration by groundwater and destruction of primary textures and other sedimentary features. The BCONG is a channel lag deposit reworked during deposition of the MOZ. This interpretation is supported by the dominance of basement-derived lithic clasts, the presence of BCONG clasts, the variable thickness of the unit along strike and the presence of BCONG clasts in the BDZ.

Jan 1, 2002

By K Osten, N Scagliotta, G Lane

Oceana Gold (New Zealand) Limited operates the Macraes Gold Mine near Dunedin on the South Island of New Zealand. The orebody is mineralogically complex and comparatively low grade requiring a series of unit processes and resulting in a relatively complex plant. As part of Oceana GoldÆs ongoing Business Improvement program, a concerted effort has been made to focus on operational efficiency. One aspect of this has been the efficient use of energy in the gold recovery process. A benchmarking process has been developed for the Macraes operation that includes comparison with other operating mines and theoretical design. Criteria for determining operational efficiency have been developed. While benchmarking is, in theory, a simple process, this paper looks at putting benchmarking into practice by catering for variability in ore and associate processing methods. The unit processes discussed include the comminution circuit, flotation plant, pressure oxidation plant and gold recovery circuits.

Jan 1, 2004

By B Olsson, R Norman, M Volz

Australia has seen unprecedented demand for coal exports in the last ten years and this demand is set to expand further still according to many analysts. This rapid increase in demand has placed pressure on multi-user coal chains to guarantee the capability to meet the required demand, in terms of both current operations and capacity expansion.The projects required to deliver these forecast tonnages take place in an increasingly complex commercial and technical environment. These challenges include brownfield and greenfield projects, multiple rail and terminal service providers as well as a myriad of mine operators, all needing to operate in an increasingly integrated manner to get the most out of expensive shared assets.Increasing complexity and integration drives the need for more holistic and sophisticated analysis tools. The capacity of coal chain subsystems, such as mine, rail and port, can no longer be determined effectively in isolation. Understanding the nature of the interactions between these subsystems and the resultant capacity of the integrated system is the key to maximising value. TSG advocates the use of a total integrated system approach to understand the behaviour and performance of complex coal chains.Recently, TSG has worked in conjunction with the Integrated Logistics Company and a number of stakeholders in the Dalrymple Bay Coal Chain to deliver the first independent system master plan. This master plan has provided a quantitative and rational assessment of coal chain capacity in its current state and a prediction of its capacity once a pipeline of committed capacity improvements is in place. It is underpinned by a highly detailed discrete-event simulation model of the complete coal chain as an integrated system, including mine load-outs, rail, terminal and port operations.This paper provides an overview of the study and describes the differences between subsystem and total integrated system model performance.

Sep 26, 2011

By Mahyera A, Sakashita B, Ahmed U, Abou-Sayed AS

Gas in U.S. coals is primarily composed of 90 to 99 percent methane and up to 10 per- cent carbon dioxide. In composition and heat- ing value, this coal-bed gas is similar to natural gas and can be introduced directly into commercial pipelines after standard condition- ing. The high permeability cleat system in the virgin coal can be exploited in order to drain the coal gas well in advance of mining. Two premining drainage methods have been extensive- ly evaluated in the U.S.; they are 1) horizon- tal boreholes collared from within the mine, and 2) vertical drilling from the surface with fracturing. Limited-size fracture treatments are advocated in order to prevent potential roof damage and the need for added support. An engineering approach to predicting gas flow for different drainage techniques near mining locations is presented. Results can be used in design, i.e. pipeline, compressor. Coal gas drainage from a horizontal borehole and a treated (contained fracture) vertical well for a 6 foot seam have been evaluated. Based on these results, it was concluded that selection of gas drainage techniques will depend primar

Jan 1, 1982

By M Bilodeau, G Caro, R Beaudoin, D Labrie

In 2005, Dyno Nobel Canada Inc, DynoConsult and CANMET-MMSL used their pool of expertise in blasting, ground control, open pit and underground mining, mineral processing, information technology and applied mineralogy to launch a research project aimed at evaluating the role of electronic detonators in the development of a sustainable energy-efficient rock reduction process. The overall objectives were to improve health and safety in a mining environment and reduce energy consumption and greenhouse gas (GHG) production in the Canadian mining industry. The study was conducted in a quarry located in Nova Scotia, Canada, with the objective of taking advantage of the higher accuracy and flexibility of electronic detonators towards improving blast efficiency and measuring its impact on productivity in a quarry environment and energy savings. Optimising the blast sequence was the first aspect to be considered before starting to look at designing bigger blasts and achieving productivity improvements, without creating additional environmental concerns, as the quarryÆs location was representing a challenge in itself in the surrounding community. The use of high-speed cameras (500 fps) was an improved means of analysing blast dynamics during the firing sequence. Seismic monitoring and linear superposition techniques were also applied to validate the sequences to be tested in all three specific geological areas. The combination of field measurements allowed to identify the optimal blasting sequences that would then be delivered accurately with the electronic initiation systems. The data from 12 blasts (six with electronic detonators and six with pyrotechnic detonators) carried out in three different geological formations (soft, medium and hard rock) showed that the electronic blasting technology could increase rock fragmentation by 15 to 20 per cent. A more uniform distribution of rock fragment size was also obtained. Blast improvements on downstream processes resulted in a five per cent productivity increase in rock excavation and transportation, a ten per cent energy reduction in primary crushing and a 15 per cent increase in the primary crusher throughput. A prototype soft-sensor based on primary crusher data (eg energy consumption, throughput, feed and product size distribution) and a simplified computer process model were developed for online measurement of a rock operating work index. Furthermore, rock samples were collected and specimens were prepared in order to determine the tensile and compressive strength of the rock materials, evaluate the aggregate crushing work index and examine the development of micro and macro-fractures under binocular and scanning electron microscopy (SEM). Blast-induced rock damage was evaluated at the end of the laboratory testing program. A reduction in rock hardness by about 30 per cent was observed after blasting. However, the impact of the blasting method (eg using electronic versus pyrotechnic detonators) on the induced rock damage was either absent or not perceptible within the measurement technique accuracy and the number of samples analysed.

Jan 1, 2007

By J T. Sharp, M A. Styler, D McGowan, P W. Mayne

Static liquefaction is a geotechnical hazard in mine tailings facilities. Soils that are contractive in shear are susceptible to static liquefaction. Tailings facilities are dynamic structures, typically growing in height each year. Dilative tailings may become contractive under increased effective stress. In this paper we show that Cone Penetration Test (CPT) data can be used to estimate the future state of in-place tailings under changes in effective stress. Susceptibility to static liquefaction is typically evaluated with the CPT by using a clean-sand equivalent normalized cone tip resistance (Qtn,cs) or by estimating the state parameter (?). An alternative approach is to evaluate the soil-state using the yield-stress-ratio (YSR = ?’y/?’v0). If the YSR equals one it is on the normal consolidation line and the soil-state is contractive. YSR values greater than three are typically dense of the critical state line (CSL) and the soil-state is dilative. In this paper we review how to calculate Qtn,cs, ?, and ?’y; and how the YSR can be used to screen for contractive soil behaviour. Unlike Qtn,cs and ?, it is very simple to estimate how the YSR will change due to an increase in overburden stress. This YSR approach was evaluated at three locations that saw increases in overburden of 10 m, 20 m, and 25 m. We show that the ?’y calculations are consistent and the increase in effective stress moves the soil state towards looser soil states. CITATION:Styler, M A, Mayne, P W, McGowan, D and Sharp, J T, 2018. Predicting changes in static liquefaction susceptibility using cone penetration test results, in Proceedings Mine Waste and Tailings Stewardship Conference 2018, pp 317–332 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Jul 23, 2018

By D Prior

The Australian mining industry is a significant contributor to the nation’s greenhouse gas (GHG) emissions, and like any industry, it must make efforts to reduce these. Medium- and long-term strategies will include the replacement of diesel engines with alternative energy sources, but what can be done in the short-term to reduce diesel consumption and hence CO2 emissions? Haul trucks are identified as the major contributors of CO2 emissions in the mining fleet and this paper focuses on firstly identifying what drives haul truck emissions and secondly, discussing what is the role of the Fleet Management System (FMS) in reducing these. A key enabler of this is having a robust fuel consumption model within the FMS, and I describe how this may be done. Besides novel approaches to incorporating fuel consumption (CO2) management into truck assignment algorithms, this paper also describes how the FMS can be used to implement and manage procedures and policies to reduce haul truck emissions.

Jun 22, 2022

By E Christodoulou, L Zoumpoulakis

The kinetics of the thermal decomposition of MgCO3 was investigated using isothermal experiments performed in a thermogravimetric analyzer under a nitrogen atmosphere at 380¦, 400¦, 450¦ and 480¦C. The weight loss data as a function of time were modified to give the fraction that reacted (ß) and the rate of reaction (dß/dt) vs. time (t). Kinetic analysis of the experimental results, using three different methods, showed that diffusion predominates the MgCO3 decomposition over the investigated temperature range, with the data being best fitted by JanderÆs equation ([1−(1−ß)1/3]2=kt). The activation energy was estimated by Arrhenius plots using both the initial reaction rates and rate constants from fitting the above equation. The values estimated were 27.1 and 171.4 kJ/mol respectively.

Jan 1, 2001

By C Muñoz, N Ortega, J Vergara, D Avilés

Mass blasts have been the subject of extensive studies because of their potential benefits in mining operations. However, it has not been possible to advance due to the paradigm that states that the blasts near the designed final wall or to critical structures have to be low tonnage. Another reason is the absence of specialised simulation programs to more precisely determine the influence of the energy released by blasting to the rock mass. There are some studies that demonstrate the possibility of massive blasting that maintain the design of the final slope (Farias and Santander, 2014). It should be noted that these studies develop the concept that the size of the blast should not increase the peak vibration in the rock mass.The study was carried out in partnership with Los Colorados Mining Company. Analysis, reconciliation and wall control for two types of blasts were performed:blasting production: approximately 850 000 t, with special wall control considerationsblasting of approximately 950 000 t over the entire width of the bench.Monitoring systems were used in the near field and far field using examination of holes in order to obtain information to assess the impact on the rock mass and then to compare these to conventional blasting combining production and contour blasting.The results show that for a large blasted volume, production and/or those generated from toe to crest on the bench did not produce more impact in the rock mass than the conventional blasting.The conclusions drawn from this study are:an improvement in the excavation rate of 7500 t/h that is higher than the maximum rates normally obtainedthe peak vibrations of the P wave generated by both blasts did not exceed the peak particle velocity criteria (Vergara and Muñoz, 2014)holes examination indicating no difference in their entire length, in pre- and post-blast reviewover US$2 000 000 savings generated in the year (estimated by the client) (Avilés, 2014).CITATION:Vergara, J, Muñoz, C, Ortega, N and Avilés, D, 2015. Benefits related to applications of a mass blast in open cut mining, in Proceedings 11th International Symposium on Rock Fragmentation by Blasting, pp 625–632 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Aug 24, 2015

The green field site is one that has no history of mining and as such it presents the designer with a blank canvas, on which any number of drill and blasting options can be drafted. No matter which mining method is selected all technology and experience will need to be acquired from outside sources, applied quickly and produce the right results. North Limited, in joint venture with the Sumitomo Group (20 per cent), have developed AustraliaÆs first block cave mine at Northparkes in New South Wales, Australia. This innovative and large scale mining project was taken from a green field site in November 1993 to a fully commissioned block cave mine in December 1997. NorthparkesÆ Endeavour 26 mine is now producing at a rate of 3.9Mt per annum from a 27Mt ore block. Prior to 1993 no history of mining activity existed at Northparkes. The rock had never been blasted and many questions were raised about how it would behave. While it was clear that the Endeavour 26 (E26) orebody contained geotechnical properties appropriate to block caving, the blasting methods required to establish a block cave mine had never been used in Australia and no designs were available. The joint venture partners had no prior experience with block caving and it was immediately apparent that this blasting technology would have to be acquired from foreign sources and applied to the unique local conditions. Conceptual designs for the block cave drill and blast were first drafted in 1994, first issued for drilling in December 1995 and first blasted in January 1996. 470 km of drill metres and four million tonnes of rock were blasted to complete the undercutting project by September 1997. This paper will provide those developing new drill and blast projects with an inside view of how one small technical team solved many design challenges to successfully construct AustraliaÆs first block cave mine under strict quality controls and ambitious time constraints.

Jan 1, 1998

By T M. Brettell, D Sidea

The CSA Mine is located in Cobar, New South Wales and is operated by Glencore. Large scale underground production started from 1965, with zinc, lead, silver and copper extracted in the past. The current operations focus on copper, with a silver co-product.From 2014 to 2016, Cobar Management Pty Ltd (CMPL) undertook a major capital project to upgrade the primary ventilation system at the CSA Mine. This involved the development of ten raises using full-face raise boring from surface to a depth of 1450 m. The total length of the raises was approximately 2500 m. Geotechnical conditions were identified as a key project risk during the early planning stages of the project. Timely quantification of the geotechnical risks was required to minimise project delays and cost overruns. Geotechnical investigations were planned and conducted for each raise prior to pilot drilling and full-face back reaming.Nine of the ten raises had final wall camera and laser baseline surveys completed following full-face reaming. The surveys were conducted progressively, allowing ongoing back analysis and calibration of geotechnical evaluations as the project advanced.This paper presents the design and planning process of the raise bored excavations. It details the geotechnical investigation work undertaken to mitigate the geotechnical risks and the challenges and learnings from the project including the benefits of close collaboration between the parties involved.CITATION:Sidea, D and Brettell, T M, 2017. The CSA ventilation upgrade – geotechnical challenges and learnings, in Proceedings 13th AusIMM Underground Operators’ Conference 2017, pp 341–352 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Oct 16, 2017

By K Schonert, K Eichas

Electrostatic separation of non-conductive materials can be accomplished by triboelectric charging. The efficiency of convential separators becomes worse in the size range below about 100 ¦m. These problems are solved by developing a new double-drum-separator. The investigations have shown the possibility of separating very fine mineral mixtures (eg quartz/calcite) in a strong electric field after tribo-charging in a special dust-feeder. The paper reports about the influence of particle size and field intensity on the separation and deals furthermore with the problem of desagglomeration.

Jan 1, 1993

By D Brereton, C J. Moran

In this era of rising focus on the social and environmental costs and benefits of mining operations, the valuation methodologies used to assess such impacts become increasingly important. Within an industry dominated by an engineering culture that places emphasis on net present value (NPV) calculations using high discount rates, difficulties often arise when attempting to justify projects with longer-term, harder to quantify benefits. This is particularly so when these benefits fall in the social and environmental domains and involve other stakeholders. In this paper, we summarise the results of a recent literature review on this subject, which focused on the valuation of æBeyond ComplianceÆ initiatives in the mining sector. We discuss a range of approaches including the quantification of hidden internal costs, financial methods of incorporating risk into calculations, the integration of quantitative and qualitative information, and also the valuation of æexternalitiesÆ or costs and benefits borne by others. We then use a series of examples relating to the management of water in the minerals industry to illustrate how some of these approaches could be applied. There are high-level commitments from both individual companies and groups such as the ICMM to incorporate sustainable development criteria into decision-making processes within the industry. We conclude the paper by arguing that, to meet these commitments, there is a need for the industry to adopt a broader range of valuation methodologies than appears to be the case at present.

Jan 1, 2006

Outline of situations when valuations required - from capital raisings and takeovers, stamp duty, rates and capital gains tax, to probate and litigation between joint venture parties. Definition of types of exploration and mining properties as background to discussion on what methodologies to use (from grass roots to operating mine). Discussion on nature of alluvial deposits in New Zealand and how their characteristics and tonnage/grade uncertainties affect choice of methodology. Assessment of risk factors in New Zealand û technical, financial and socio-political (legislation, access, Maori land rights, environmental). Discussion of appropriate methodologies.

Jan 1, 1992