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The title of my address today is "Oil and Gas Valuations - A Simplistic View of Some Critical Issues". Alternatively I could have called this address "Pitfalls for investors' and corporates in accessing Independent Experts Reports" 'as in this brief 12 minute talk I will briefly comment on some common misconceptions with regard to the valuation of exploration areas and production interests, and comment on how the draft release guidelines address these issues.

Jan 1, 1989

Good morning. I am very pleased to be invited to present the Opening Address to this inaugural New Zealand Minerals & Mining Conference. It is indeed a pleasure to see so many representatives of this industry, which is so important to New Zealand's economy, present here today.   I extend a warm welcome to all delegates, particularly those from outside New Zealand. To those of you who have travelled from offshore, please closely observe our industry, and do not hesitate to ask Crown Minerals staff here for any further information you may want. I trust you will soon come to the same conclusion that my two following speakers have; that New Zealand is a good investment destination, and further that many of you will decide to invest in New Zealand's minerals and mining industry.   In New Zealand the minerals industry - minerals, coal and petroleum - together constitute an approximate $2.5 billion per year business. In broad terms this is about 3% of our Gross Domestic Product.

Jan 1, 1997

By M G. Shaw, M A. Rhamdhani, S P. Singh, A R. Duffy, B Eisenbart, A K. Shukla, G A. Brooks

The field of astrometallurgy is a growing area of study. Metal production on the Moon is likely to begin in less than a decade as major space agencies such as NASA (National Aeronautics and Space Administration) and CNSA (China National Space Administration) are preparing to construct permanent lunar bases. The utilisation of regolith to generate oxygen and metals is expected to be important in the development of a sustainable lunar habitat. This paper provides an overview of potential metallurgical processing methods for lunar conditions, emphasising the impact of lunar factors on slag chemistry. The interaction between regolith and the extracted metals, as well as their impact on slag composition and refractory performance, are critical considerations in metal production on the lunar surface. The initial research on lunar metallurgical technologies is focused on oxygen extraction and Fe-Si alloys are reported as the by-products of these processes. This paper delves into the fundamental thermodynamics associated with the carbothermic reduction of lunar regolith. Thermodynamic analysis using the FactSage™ ver 8.2 software package indicates that the Fe-Si alloy can be produced as a metallic product from the lunar regolith at temperatures ranging from 1400°C to 1600°C under terrestrial conditions. However, under ultra-high vacuum conditions (3 × 10-15 bar) on the Moon, the required operating temperature for producing ferrosilicon would be significantly reduced. Thermodynamic modelling results indicate that under lunar vacuum conditions, Fe-Si alloys only exist as solid phases at lower temperatures below 650°C. At higher temperatures, both Fe and Si are expected to be present in the gas phase. In this work, the carbothermic reduction of the Lunar Mare Simulant (LMS-1) is conducted under terrestrial conditions. The findings indicate that the process can readily yield Fe-Si alloys with 7–10 wt per cent Si at 1600°C. Additionally, energy dispersive spectroscopy (EDS) analysis of the resulting Fe-Si alloy indicates the presence of phosphorus up to 1 wt per cent.

Aug 21, 2024

My roots span four generations. My great grandfather, Christian Frederick Fisher, along with twenty-one others was drowned in the New Australasian mine disaster at Creswick in Victoria in 1882. My grandfather, also named Christian Frederick Fisher, escaped and then followed a career of shaft sinking for large companies and operating small mines (very unprofitably according to my father) when funds allowed. My father, an excellent practical mining and mechanical engineer, was also a small miner and my early entry into the industry was, like many before me, very basic. My introductions to the business end of a No. 4 shovel, drilling with hand steel and later with jack hammers without the benefit of airlegs, feeding heavy cordwood to hungry boilers and felling trees for mine timber soon dispelled any illusions I had that mining was a bed of roses.Before it became well known I knew "Life was not meant to be easy".In a family-owned small gold mine in a remote part of Cape York Peninsula in far north Queensland I was fortunate in obtaining an excellent grounding in reef and deep alluvial mining. Operating in vertical and underlie shafts the variable ground conditions often required close timbering. Steam pumps were used underground and steam winders for hoisting.The complete absence of municipal or government infrastructure in this remote mining field threw responsibility on each mine operator to be self-sufficient, and responsible for mine development and installation of crushing and milling equipment, accommodation and water supply. Conditions, although harsh, were acceptable in the 1930s, and fostered great self-reliance.The first crushing from our Black Cat Mine in 1935 returned nearly 200 oz from 10 tons of ore. Gold was then worth $13 an ounce compared to about $400 an ounce today; but in those depression years of the 1930s our operation was profitable.This basic education not only returned dividends when confronted with difficult mining problems, but created a deep respect for the miners who develop the small mines and who continue to contribute to the industry today, often under difficult conditions.Australia and mining are synonymous. The industry has been immortalised by the famous historian, Professor Geoffrey Blainey, in his book "The Rush that Never Ended".Initial gold discoveries were concealed and exploration was frowned upon by authority as being disruptive to early rural development. But with the discovery of gold in the Bathurst area of New South Wales by Hargreaves in 1851, the rush to the gold fields began followed by an influx of migrants. The traumatic effect on industry and society that followed, created the pattern of the love-hate relationship that at times became temporarily submerged, but is so evident today.In the harsh economic climate of the 19th century with low wages and no welfare, the opportunity to wrest riches from the earth was literally "rushed" by the adventurous, the poor, the rich, people from all walks of life. Pressures developed on preFederation Governments to provide law, order and infrastructure to the rushes that have never ended.

Jan 1, 1984

By Cotton R. E, Cox R

Digger Rocks is one of several nickel-bearing sulphide deposits localised within komaLiitic volcanics of the Forrestania Greenstone Bell within the Archaean YiIgam Block of Western Australia. Exploration and evaluation to April 1990 have delineated a resource, at a nominal cut-off grade of 0.5 per cent Ni, of 1.9 Mt at 1.1 per cent Ni within a lensoid sulphide body which strikes NW, dips 50°SW, and occurs at a depth of 30 - 110 m below surface. There has been no production from any of the Forrestania nickel deposits to-date. The deposit, comprising both disseminated and massive sulphides, has maximum dimensions of 400 m strike, 115 m vertically and 90 m true width. Generally the massive sulphides occur at the base of the disseminated sulphides, on or close to the base of the Digger Rocks dunite. The two main massive sulphide lenses have maximum dimensions of 120 m strike, 75 m vertically and 16 m true width (northern lens) and 60 m strike, 25 m vertically and 4 m true width (southern lens). The average grades of the massive and disseminated sulphides are 5.9 per cent i and 1.2 per cent i respectively. The massive sulphides generally have sharp hangingwall and fOOlwall contacts and display strong internal grade anisolropy.The massive sulphides are mainly within the supergene zone and consist of violarite, pyrite and marcasite. The disseminated sulphides are mainly within the primary zone and consist of pentlandite, pyrrholite, pyrite and minor chalcopyrite. Alteration zones, up to six in number, are complex in detail. The sulphides are capped by an average of 30 m of sub-economic, leached, siliceous, oxidised material.A genetic model for the deposit is described which places Digger Rocks in Category 2 (sulphides in large layered dunite bodies) of the latest classification of komatiitic nickel sulphide deposits in the Yilgam Block of Western Australia by Hill and Gole (1990).

Jan 1, 1992

By D-J Min

Strategies and achievements in the Asian steel industry to construct industrial ecological chain are reviewed largely in the case of Japan, Korea and China. Emphasis is placed on the development of resource circulatory system for the minimisation of various wastes and emissions of green house gases (GHG), toxic gases and polluting particulates. The minimisation includes:Rationalisation of iron and steelmaking processes; Implementation of available relevant measures/technologies; Life cycle assessment in designing steel from semis to assembled products; Reduction, reuse and recycling of materials and energies; and Utilisation of core competence technologies to process domestic and industrial wastes. In view of global nature of the above wastes- and emission-issues, inter-industrial linkage and international cooperation across the borders in the Asian countries have become more important. Inter-industrial linkage definitely serves to cut back the wastes and emissions. Examples of such linkage and factors influencing the sustainability of the linkage are described with expectation for further development of the linkage. Importance of international cooperation cannot be overstressed under the circumstances where steel production in China exceeded 220 Mt and world production exceeded 945 Mt in 2003 and is still increasing. Practical measures are discussed to enhance the linkage and cooperation for effectively promoting the reduction, reuse and recycling, including implications for the nonferrous industry.

Jan 1, 2004

By C Mason, A Littleboy

This paper presents the results of a large scale survey of The Australasian Institute for Mining and Metallurgy (AusIMM) membership. This survey aimed to understand and define the key issues and drivers that AusIMM members perceived would shape the development of the Australian minerals industry over the next 20 - 30 years. Nine hundred and fifty-nine participants rated the importance of 11 issues and six drivers (generated from interviews with AusIMM members), and 236 of these participants also provided qualitative descriptions of the future. Issues were defined as problems or opportunities for the minerals industry that may be controlled or influenced by the industry, while drivers were defined as those factors that will influence the direction of the industry that are not within the control of the industry. The quantitative data revealed that the top four issues, in order of their perceived importance to the Australian minerals industry, were: investment in exploration, workforce, health and safety, and innovation. The top three drivers in order of their perceived importance, were: economics of mining, global context and Australian society. While the top four issues were largely consistent across professional groups examined, metallurgy and mineral processing professionals rated water inputs and energy inputs significantly higher than the other professional groups. For the list of drivers, there was strong agreement regarding their ranked order of importance across the professional groups examined. Within the qualitative data, however, a single issue (technology) and a single driver (economics of mining) dominated participantsÆ descriptions of the future. These findings provide important input into a broader program of scenario development for the Australian minerals industry being undertaken by CSIRO and its partners. The results of this study demonstrate the importance of using a mixed methodology in generating these inputs to understand more fully how important stakeholders view the future and the factors that will shape it. The results of this study are also discussed with respect to the role that CSIRO may play in facilitating the exploration of uncertainty around the future of the Australian minerals industry.

Jan 1, 2009

THE area of the State of New South Wales is not great, nevertheless it has very large and important Mineral Resources. This is the more noticeable when the values of the annual mineral production from the individual States of the Commonwealth arecompared with the value of the New South Wales production. The principal minerals mined now are not gold, copper, and tin, as they were in the early years following the gold rush of 1851, the centre of gravity of commercial mineral activity having moved to coal and "oil-shale," water, limestone (with cement), silver-lead-zinc cadmium, sulphur, slate and other building and ornamental stone, road materials, and clays.From small areas totalling only 650 sq. miles, coal to the extent of 311,000,000 tons, valued at £151,000,000, has been won.The estimate of actual and probable reserves by the Mines Department within an area of less than 1000 sq. miles is about 14,000,000,000 tons, while the potential reserves within the remaining 15,500 sq. miles of concealed coal fields must be enormous. Even taking into account only the actual and pI:obable reserves in the 1000 sq. miles known, and assuming a depletion at the rate of 350,000,000 tons a year, or somewhat greater than that of the British Isles at present, and assuming an average value of £1 a ton, with money at 5% compound interest, then the present value of this coal (40 years of depletion) would be £5,575,000,000 approximately: truly an enormous present value for a business of 40 years, dealing only with 1000 sq. miles of country. The location of the main coal basin in New South Wales is one of great strategic importance. It lies almig and near a seaboard, with excellent facilities for anchorage; the coal is of very high quality, and is readily accessible; the climate is admirable. Were this same coal at Port Darwin, its commercial importance would not be be pronounced.

Jan 1, 1926

By V Kumar, A S. Venkatesh, R K. Upadhya

The enormous iron ore deposits of eastern India are part of the volcano-sedimentary basins containing iron and to some extent manganese deposits that belong to the Iron Ore Group (IOG) of Archaean Singhbhum Craton, occurring as western and eastern limbs of a broad synclinorium. The eastern iron basin contains typically huge amounts of blue dust and powdery ores. There is a remarkable difference between the western flank ores and the eastern flank ores and the present study is part of the eastern flank ores from Noamundi. Demand for sintered fines as blast furnace feed coupled with the higher export price for lumpy ores that produce enormous amounts of fines during processing has created a situation whereby both primary and secondary fines, such as classifier fines, are being increasingly used as sintered feed for blast furnace. Systematic mineralogical and geochemical characterisation indicates that in many cases the ROM and classifier fines have to be processed to increase their Fe content and at the same time reduce their Al, Si and P contents. The fines which are already at micron sizes are amenable for beneficiation using the Mozley mineral separator and sink float test. It was observed that beneficiation was better and significantly greater by the sink float method than the Mozley mineral separator. Mineralogical and chemical studies of the fines reveal that around 80 per cent of alumina bearing minerals (gibbsite, clay and silicates) are present in the liberated form. Microscopic studies confirmed that the iron minerals are well liberated by controlled grinding to -300 mesh sizes with the beneficiation of iron ore fines and low-grade ores carried out using the Mozley mineral separator and sink float test. Beneficiation using the Mozley mineral separator increased the grade of concentrate with increasing flow rate of water as well as increase in amplitude of oscillation of the tray, but not very significantly with the increase in slope of the tray. In this method, though, iron concentration improved from 47 to 63 per cent with a recovery of around 67 per cent. It is not suitable for industry scale operation as only a small quantity of ores can be handled at a time. Beneficiation using the sink float test produced a better result with the Fe content increasing from 47 - 49 per cent to 66 - 68 per cent with a recovery of approximately 58 per cent. Initial feed Al2O3, SiO2 and Fe contents of 9.85 per cent, 15.3 per cent and 49.8 per cent respectively were beneficiated to 2.13 per cent Al2O3, 1.5 per cent SiO2 and 67.5 per cent Fe in the concentrate, with a recovery of 54.1 per cent. In contrast, using the Mozley table resulted in beneficiable contents 66.3 per cent Fe, 3.01 per cent alumina and 2.05 per cent silica. The combined alumina and silica content for the Mozley Table was >5 per cent, which exceeds the industry requirement of

Jan 1, 2005

By G York

South African gold reserves extend to great depths. However, strategies for the mining of such deposits have changed only slightly over the past number of years. Regional support at depth is currently provided by rock pillars and backfill. Many problems have been experienced with these regional support practices at deeper levels. In this paper several alternative forms of regional support are described which include the use of concrete, the use of back area caving and confinement to strengthen pillars. These new concepts are supported by numerical and laboratory modelling and in situ results.

Jan 1, 1998

By B J. Wilde

Evaluating the resources and reserves in a mineral deposit requires many interdependent subjective decisions. The decision of stationarity is arguably the most important. This decision includes: the choice of domains that subset the entire deposit, modelling the boundaries of each domain, and understanding and considering the nature of the contacts between domains. Reasonable choices are made in consideration of the geological context, the available data, the goals of the study and the available resources for the study. This paper reviews aspects of the decision of stationarity in modern resource assessment with a focus on quantifying uncertainty and using numerical/statistical tools to help the geomodeller. The use of volume/distance functions to quantify uncertainty in domain limits is particularly important and is presented in detail. The use of contact plots provides help with the continuity of grades across domain boundaries. Realisations are not assembled as a branching combinatorial of all possibilities, but as a set of realisations that provide a measure of uncertainty. This paper amounts to a definition of stationarity for modern resource assessment.

Sep 26, 2011

The past year has been a difficult one for the mining industry in this country, but an active and successful one for the Branch. Membership has continued to increase, albeit at a slower rate than last year, and with the increase almost all from student membership. I dwelt at some length last year on the continued increase in student membership, which I ascribed largely to deliberate policies adopted by the Branch to foster this area of membership. I don't propose to reiterate these, suffice it to say that as usual, the Otago School of Mines has been a prolific source of student members, and it will be a pity if this source dries up û more on this subject later. In fact, students form just on 29 per cent of the Branch's total membership û a far higher percentage than for any other Branch in the Institute, whose membership as a whole comprises only ten per cent students.

Jan 1, 1985

By Parkes DB

The excavation of sandstone of generally medium strength for the Liverpool Link Line by Dosco Mark 2A Roadheaders has demonstrated the versatility and good performance of road- headers in suitable rock formations. A description is given of the strata traversed by the tunnels together with descriptions of equipment and crews, excavation sequences, operating difficulties and the results achiev- ed. In addition tunnel construction is des- cribed for a difficult section where there was only O.Sm clearance between invert and a four lane vehicular tunnel below, and O.5m clearance between tunnel crown and a century old sewer above.

Jan 1, 1976

Thank you for the invitation to this forum today. I have a hectic schedule in the Mabo legislation process but it is important not to lose sight of the bigger picture and to attend today to talk to you about the Government's role in the development of our country.More importantly, I hope over the next couple of hours to get some feedback on developments in this area from people very much involved on a day to day basis.

Jan 1, 1993

The Mammoth Copper Deposit consists of three distinct orebodies adjacent to the Mammoth Fault. This fault is arcuate, changing from a normal tension fault to a shear strike fault just to the north of the mine. Movement on the fault was probably contemporaneous with deposit- ion of the adjacent sediments. In the upper levels the No. 1 orebody occurs within a brecciated zone in the footwall of the fault, but at depth the No. 2 and 3 orebodies are stratabound by two brecciated lithologic horiz- ons. The host rocks are impure sandstones, arkoces and quartzites, which in the mine area are near the top of the Lower Proterozoic Myally Beds. Overlying these beds is a conglom- erate siltstone sequence which has been assumed to be the base of the Gunpowder Creek Formation. North and south of the mine the conglomerate rests on an erosional unconformity representing a major time break, but in the mine the uncon- formity and conditions of deposition of the conglomerate are obscure. Some mineralization is contained within the conglomerates. The sulphides present are chalcocite, bornite, chalcopyrite and pyrite. Chalcocite is dominant in the upper levels but could be en- riched by supergene processes. At depth, bornite becomes the dominant copper sulphide with lesser amounts of chalcopyrite, pyrite and primary chalcocite. Throughout the orebody minor digenite and covellite occur and arsenic is a minor constituent bound up with the pyrite. The bulk of the sulphides occur in stringers, fractures and breccia interstices but finer grained primary bedded sulphides can be observed. The genesis is probably a complex process in- volving active tectonic movements extending from deposition to post lithification giving numerous phases of brecciation and redistribut- Ion.

Jan 1, 1974

By Yin J, Sun H

A new technology has been introduced - the use of the High-Water Solidifying Material for providing pumped roadside supports to maintain a roadway for re-use in longwall retreating. As a gob edge support, its initial use at Hebi No. 1 Colliery was successful, providing acceptable performances in support and control of convergences and lateral closures of the gob-edge roadways. This acceptability applied to both first use and re-use when the roadway became a gateroad for the adjoining longwall, remaining stable throughout the associated loadings and convergences. The technology promises economic and social benefits.

Jan 1, 1992

By Caivin JS, Freeman CJ

The Fairbanks Mining District in central Alaska was discovered in 1902 and since then approximately 7.5 million troy oz of placer gold, 250,000 troy oz of lode gold, and several thousand short tons of antimony and tungsten hap been produced from an area of about 1000 km . Historic lode production was from high grade gold-quartz veins that averaged 1.3 OPT free milling gold. Five main types of mineral deposits' are recognized in the district. I. Conformable, stratabound volcanogenic zinc, antimony, lead, and copper sulfides in places containing gold, silver and tungsten in bimodal metavoleanics (Cleary Sequence). II. Complex precious metal-bearing lead sulfosalt-quartz veins in Cretaceous granitic intrusives. III. Tungsten skarns adjacent to granitic intrusives. IV. Gold-bearing polymetallic sulfide-quartz veins crosscutting metavolcanics and metasedimentary units of the Cleary Sequence. V. Antimony-bearing gash veins along axial plane shears in various lithologies of the Cleary Sequence. Type I and Type IV mineral occurrences are currently being evaluated as low. grade bulk tonnage (target model 16-20 'million tons of 0.05 to 0.15 OPT)'and high grade moderate tonnage (target model 0.5 to 2.5 million tons of 0.5 OPT) gold deposits. The host rocks for Type I mineralization occur over a 30 km strike length and are at least 300 meters thick. Stratigraphic, structural, fluid inclusion, and isotopic data suggest that the Type IV mineralization is related to remobilization of Type I

Jan 1, 1987

THIS SYMPOSIUM ON AUSTRALIAN BEACH SANDS IS MOST TIMELY; WHEN WE ARE APPROACHING PEAK PRODUCTION FROM THESE RESOURCES AND WHEN PRICES ARE GOOD, BUT THE RESOURCES CAN BE SEEN TO BE COMING TO AN END IN THE LIFETIME OF OUR YOUNGER COLLEAGUES - 20 TO 25 YEARS AS WE HEARD FROM ROY TOWNER TODAY. THE SPREAD OF PAPERS HAS BEEN 15 PERCENT EACH ON GEOLOGY AND THE MINERAL RESOURCES, WITH 25 PERCENT ON LAND USE AND ENVIRONMENTAL PROBLEMS. I AM PLEASED TO SEE 20 PERCENT HAS BEEN ON TREATMENT PROCESSES AND 25 PERCENT HAS BEEN CONCERNED WITH DOWNSTREAM USES. I SUSPECT THESE RATIOS ARE DUE IN PART TO THE WAY PAPERS WERE CALLED FOR, BUT THEY ALSO SUMMARISE CLOSELY THE BALANCE OF INTERESTS IN THE INDUSTRY. NOTE AGAIN; 30% CONCERNED WITH SUSTAIN -ING RESOURCES, BUT 25% WATCHING LAND USE AND IMPOSING CONTROLS; 20 % IMPROVING THE PRESENT PROCESSING, AND A HEALTHY 25% WITH AN INTEREST" IN WHAT HAPPENS TO THE MINERAL CONCENTRATES. I SHALL RETURN TO THIS FOURTH POINT AT THE END OF MY REMARKS. THE POSSIBILITY OF ADDITIONAL HEAVY MINERAL SANDS IN NEW AREAS WAS HINTED AT BY M.S. SHEPHERD (EG TERTIARY SHORELINES OF THE MURRAY BASIN). OLD FOSSIL SHORELINES, WELL REMOVED FROM PRESENT SHORES ARE AN IMPORTANT MINERAL SOURCE IN CHINA AND IT WOULD HAVE BEEN INTERESTING TO HEAR FROM THE SEVERAL COMPANIES EXPLORING IN THE MURRAY BASIN. I ALSO NOTICED THAT WHILST OUR MONAZITE

Jan 1, 1986

I take it the character of addresses to conventions, should, following precedent, avoid details, and treat subjects rather from a philosophical point of view so far as they will permit.In the subject about to be treated on, an endeavour will be made to find here we stand as regards the past, in order that we may the better, hope to look correctly in the direction to be followed.It may be assumed that the main object of the Institute is to forward mining interests and the ways in which engineers can aid those interests are many. If all of us were to try to follow many of those interests we should become like" jacks of all trades and masters of none". Mining engineering is consequently subdivided, all are necessary to the common end, and it is on one of those divisions I have undertaken to address you. The subject or steam pumping is a large one, and I regret, not having received such longer notice as would have enabled me to do better justice to the subject, and more respectful regard for yourselves. I must, however, under the circumstances, crave your generous consideration, and hope the topics mentioned may furnish material for discussion and future papers of far more value than this one, Ind.eed, the subject is so illtimately and historically associated with mining that if treated on its merits would be highly interesting or could be made so in more capable hands.

The sulphide ores of the Kalgoorlie goldfield have long been looked upon as' refractory, involving special metallurgical treatment. For many years two kinds of treatment have been practised-(l) wet treatment, including fine grinding, amalgamation or concentration of the free gold, concentration of the sulphide minerals with subsequent roasting and cyanidation, and cyanidation or bromo-cyanidation of the residue from the concentrating operation; (2) dry-crushing of the ore and roasting the whole of thecrushed ore, amalgamation of the gold in the calcine during fine grading, followed by cyanidation. The wet treatment was advanced a stage further when, in 1929, the Lake View and Star Ltd. adopted large scale flotation. As a consequence, however, further metallurgical problems were introduced. This paper covers the investigation, ,of one of the most prominent of these problems.Flotation preceded by strakes was satisfactory to a point.The flotation concentrate consisted largely of auriferous pyrite and tellurides, and the gangue minerals in the concentrate were practically barren.Several sources of loss of gold values were, however, found to be associated with this circuit, viz.-(a) There was the loss of gold in the flotation tailing.(b) Loss by dusting during roasting of the flotation concentrate.(c) Loss of gold in the cyanided residue.

Jan 1, 1937