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By M Haydon

How do you portray a large structurally and stratigraphically complex deposit to return a meaningful resource estimation, and produce a geological model that is useable for planning on a daily basis? The George Fisher Mine is located 22 km north of Mount Isa and forms part of XstrataÆs Zinc Group operations. It is currently a major producer of zinc, lead and silver in the region with an estimated total resource for all categories of 127 Mt at 100g/t Ag, 5.3 per cent Pb and 9.2 per cent Zn (June 2005). Production in 2005 totalled 2 647 492 wet tonnes for 317 699 kg Ag, 140 317 tonnes Pb and 230 331 tonnes Zn from underground operations. George Fisher (GF) consists of two deposits that are structurally complex on a mine scale, George Fisher North (GFN) and George Fisher South (GFS). Regional faulting has resulted in a 2 km long package of variably pyritic shale and siltstone that separates the deposits. This paper looks specifically at GFN. Distinct correlations exist between the two deposits based on stratigraphic matches; however, orebody characteristics, geometry and fault architectures differ significantly between the two. The deposits consist of multiple, sedimentary-hosted, stratiform orebodies from 2 to 25 m wide, separated by waste intervals of variable width. Each ore-waste interval is modelled as an individual geological domain. Structurally, George Fisher North (GFN) contains a series of major late-stage NE faults with dextral offset(s) of up to 130 m. Further complexity is added by NS, NW and NNE striking fault orientations that can produce either a loss or repeat of stratigraphy, local drag folding, orebody attenuation and block rotation. Due to this structural complexity and orebody offsets, domains at GFN are further divided into fault blocks (FB). The GFN model comprises eight FBs over a strike length of 1 km, all of which are modelled independently. As drilling progresses and additional resources are converted, further FBs will be added at major fault offsets to accommodate orebody and model expansion. This will be in addition to what is already a large and time-consuming data set to manage and update. For example, each FB has 18 domains each with two constraining wireframes (hanging wall and footwall). Each wireframe has several sets of point data depending on the type of data available, ie diamond drilling, mapping or interpretation points. This equates to over 1100 separate files to manage. Additional wireframes and files are also required for major structures, daily planning requirements and block model runs. In total some 1500 files are managed, updated and maintained for GFN alone. The ongoing need to expand as a business and optimise production in the current economic climate where there is a global demand for metal has led to an increase in production at GF. This has resulted in a rapidly growing data set and highlights the importance of practical and efficient modelling to achieve a meaningful resource estimate. This paper focuses on the geological modelling, modelling approaches and techniques employed for the GFN deposit.

Jan 1, 2006

By R Witt, M Lowing

Tanking of tunnels is now often specified when inflows exceed as little as 1 L/s/km with a unit distance of 100 m. To demonstrate inflows over a 100 m segment of a tunnel are less than 0.1 L/s with a standard error of 0.01 L/s by timed, gravity filled, volume measurement up and downstream of the segment, the measuring cylinder volume (L) must exceed 10 Q, where Q is the flow in L/s, and the number measurements taken and averaged must exceed 20 . If a standard error of 0.02 L/s is acceptable then 5Q2 measurements must be taken and averaged. If gravity filling is not possible then the number, n, of repeat pumped container measurement required is given by: where: is the 100 m section leakage is the volume filling time is the standard error of volume measurementZ is the standard normal variateK is a coefficient dependent on physical measurement conditions Based on analysis of field data an indicative coefficient of variation of volume measurement is ~0.05.

Jan 1, 2008

By G I. Lumley

‘Every mine is a pilot’ is an attitude which encourages the mining paradox of optimistic mine plans and equipment under performance; propped up by an environment lacking accountability. The premise that ‘every mine is a pilot’, appears to underlie the development and operating approach to most mines. It is the hypothesis of this paper that many mining companies, development teams and their managers largely ignore what is done elsewhere. Anecdotally, most planners don’t know whether the selected rates are high or low (rates based on theoretical models tend to be high – certainly higher than what most companies can achieve). Mines then consistently operate the equipment at rates well below targets; often more than 20 per cent below. Further to this paradox, mine performance data demonstrates the average mine is currently operating their equipment at levels of output not much more than half the output of those in the top ten per cent. On the whole mines don’t know the potential of their equipment and therefore don’t put appropriate plans in place to do better. After all, when ‘every mine is a pilot’ there is little reason to look to one’s peers for an indication of potential. This paper will outline why every mine is not a pilot and how mines do value some knowledge, but not as much as they should. This paper proposes a two-pronged approach to address this issue in the area of equipment performance. This approach is to:1. engage in better forecasting of equipment rates and better subsequent performance through benchmarking against industry standards2. provide conditions for more accountability.These parameters are linked and proper implementation of them will address the losses which many shareholders and financiers have incurred when investing in companies with unrealistic mining plans.CITATION:Lumley, G I, 2016. Is every mine a pilot? In Proceedings International Mine Management Conference, pp 75-88 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Jun 22, 2016

The difficulty in creating and obtaining a competitive edge in the mineral industry is rapidly increasing. The Kiruna Iron Ore Mine in the far north of Sweden is currently thriving on the world market through firm managerial strategy. LKAB believes in upgrading its raw material to produce a high quality iron ore product for sale to steelworks throughout the world. It is vital that this product is also of uniform quality and quantity to provide quality assurance to customers. The first link in meeting these product requirements starts in the underground workings. Mining methods and operations are of large-scale. Automation and continuous production streamline operations and reduce operating costs. These factors have built Kiruna Iron Ore Mine into the world's biggest, most modern, underground iron ore mine. To remain competitive on the world market, LKAB relies heavily on research and development. The mine is currently in a phase of upgrading its operations. A 25-tonne Toro electric loader is being tested to improve the rate of output of ore from the mine. Long hole drills are being improved to increase accuracy and efficiency. An electronic detonating system will improve detonator delay precision. Projects are underway to better understand ore flow mechanisms from a caving orebody. Benefits include improved ore recovery along with better rock quality control at the caving front. The continued updating of mining operations at Kiruna will enable LKAB to continue to maintain its competitive advantage on the world market in the production of high quality iron ore products.

Jan 1, 1997

Resue or split face firing has the potential to separate ore and waste rock into separate muck piles within a stope. Thus split face firing has the potential to reduce dilution of the ore stream to be transported to the surface for subsequent processing. It also potentially reduces the total amount of broken rock needing to be transported out of the mine as the waste material is physically separated from the ore as part of the blasting process. Waste can therefore be used directly from the stope to backfi ll other mining areas. This paper reports on the results of split face firing trials at the Hillgrove mine in NSW and analyses the results of these blasts.

Aug 1, 2010

By A M. Lechner, S Arnold, M J. Gillespie, P D. Erskine, D R. Mulligan, A T. Fletcher, A Gordon

Mine ecological monitoring schemes are often conducted only to address compliance and in some cases do not have the sufficient statistical power or understanding of ecological systems to assess, quantitatively, the meeting of rehabilitation targets or mine impacts. Monitoring schemes for rehabilitation commonly rely on analogue sites or premining baselines (reference sites) to assess whether rehabilitation sites are ecologically similar and thus successfully rehabilitated. In the case of monitoring for mine impacts, if the impacted sites diverge from reference data, the site is considered to be impacted. Fundamental to any monitoring scheme is testing the sampling design to ensure that it can detect these differences if they are present through adequate sample sizes (ie statistical power). However, a good understanding of the ecological system is required to ensure that differences detected are ecologically significant. Modelling ecosystem properties can provide a quantitative understanding of how ecosystems change over time and space, in response to natural environmental variations and thus aid in determining significant ecological differences. Furthermore, modelling methods can be used to predict future ecosystem states. Within the ecological literature, guidelines for robust statistical monitoring designs and modelling methods exist but are not routinely being used in the mining industry. This paper uses simple examples to discuss: problems with current compliance monitoring methods; importance of robust statistical techniques; and how modelling can assist rehabilitation assessment and guide monitoring schemes. The aim of this paper is to describe general monitoring and modelling methods that could be potentially used for mine site monitoring and closure assessment. These methods are often considered by mining companies as an extra expense that provide little practical benefit, and the domain of academia; however, engaging these methods may be more cost-effective in the long-run than conducting untargeted monitoring schemes that give no confidence to regulators on whether rehabilitation criteria have been met. Furthermore, monitoring programs in mining contexts provide a good opportunity to better understand long-term ecological patterns and test the application of more rigorous modelling approaches as the life of many mines tends to be greater than ten years.CITATION:Lechner, A M, Arnold, S, Fletcher, A T, Gordon, A, Erskine, P D, Gillespie, M J and Mulligan, D R, 2012. Embracing modern ecological methods - Monitoring and modelling for mine closure, not compliance, in Proceedings Life-of-Mine 2012 , pp 25-32 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Jul 10, 2012

By E K. Chiw, S-M Jung, S M. Masuka, ika

The world reserves of high-grade iron ore have depleted necessitating the need to utilise any existing natural iron ore deposits to meet the demands of the world’s expanding economy using hydrogen in the reduction process to curb CO2 emission. These low-grade ores include iron ores with high phosphorus content. The thermodynamic conditions in the blast furnace allow for the reduction of phosphorus that readily dissolves into the molten iron. Phosphorus in the gaseous state readily dissolves into the molten iron and therefore must be removed due to its negative influence on the mechanical properties of steel. The removal of phosphorus from molten iron is difficult causing the phosphorus to concentrate in metallic iron. The aim of this study is to provide basic knowledge on the phosphorus distribution after reduction using the CO-H2 and possibly provide the optimum conditions for phosphorus partitioning into slag, increasing the probability of its removal by magnetic separation. Total porosity, pore size distribution and surface area of the pellets used were measured using a mercury pressure porosimeter. The reduction was carried out using thermogravimetric analyses (TGA). The reduction rate increased with increasing H2 and was highest when 100 per cent H2 was used. Metal elements distribution in the reduced pellet was clarified using electron probe microanalysis (EPMA) and showed that phosphorus was distributed in the same areas as Ca. More phosphorus was concentrated in slag when 50 per cent CO–50 per cent H2 was used, increasing the probability of dephosphorization using magnetic separation. The concentration of phosphorus into slag was related to the rate of reduction. Further investigations into the reduction kinetics of this ore by CO-H2 is suggested to validate these findings. Nevertheless, a comprehensive thermodynamic analysis of the reduction of phosphorus containing phases found in iron ore with carbon, CO and H2 was provided to assist in selecting the optimal reduction experimental conditions.

Sep 18, 2023

Underground excavations are subjected to complex stress changes caused by nearby mining, but may also be affected by repeated dynamic loading from blasting and seismic events. In some cases, the combined, cumulative effects can lead to unforeseen damage, displacement and instability. Simulating dynamic loading of an underground excavation is a very complex task. The state of rock mass stress, damage and deformation must first be simulated sufficiently requiring small-scale structures to be explicitly modelled. Supporting elements must be represented with high similitude and then the dynamic event must be applied to the system in the case of blasts, or evolve as a consequence of rock mass instability for seismic events. A special case is for the effect of pit blasting on underground excavations - discontinuous rock phenomena at scales from mine, to bench, to pillar, to tunnel need to be captured and this represents one of the most computationally intensive tasks in mine simulation. Recent advances in computer power allow these tasks to be completed at a mine scale, incorporating discontinuities and geological detail matching the best practice for static Finite Element analyses. The results are a worthwhile contribution to mine decision-making, but require careful interpretation and thoughtful inputs - even more so than quasi-static analysis - as the cumulative effects of unfavourable modeling practices are greater. Some learnings from experiences with mine scale, discontinuum dynamic simulation are summarised, including a discussion of considerations of scale and similitude for this type of analysis.

Nov 25, 2010

By B Dodd

This paper details how the Australian Securities and Investments Commission (ASIC), as a disclosure and conduct regulator, approaches regulation of continuous disclosure, capital raising and control transactions in the mining and resources sector, and the reasons for the approach. In examining this topic the paper considers the Joint Ore Reserves Committee (JORC) Code (JORC, 2004), the VALMIN Code (VALMIN Committee, 2005), the relevant ASX Listing Rules and the relevant provisions of the Corporations Act 2001 (Corporations Act). This paper discusses ASICÆs approach to expert reports and disclosure with reference to Regulatory Guides 111 Content of expert reports and 170 Prospective financial information.CITATION:Dodd, B, 2012. Issues in capital raisings and disclosure, in Proceedings International Mine Management 2012, pp 3-14 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Nov 20, 2012

By P Swart, A Fletcher, P D. Erskine

Glencore Coal Assets Australia (GCAA) operates five coalmines in Queensland and has rehabilitated thousands of hectares of mined land across these sites. Accordingly, GCAA seeks to continually improve rehabilitation outcomes over time and work towards progressive rehabilitation sign-off. The ultimate test of rehabilitation success is the attainment of an agreed land-use target, whether for biodiversity conservation or some type of agricultural production, and the ability of the rehabilitated landscape to resist degradation and retain desired functions (eg biodiversity protection or grazing productivity). However, success must be based on documented evidence that can demonstrate adequate progress towards rehabilitation targets and is assessed at appropriate intervals. To assist this task, a stepwise decision guide for the GCAA monitoring program was developed to ensure consistent monitoring data is collected across the range of sites. This presentation will discuss some of the processes that were followed to allow GCAA to identify appropriate metrics to assess rehabilitation success efficiently over thousands of hectares.CITATION:Erskine, P, Fletcher, A and Swart, P, 2016. Preparing for progressive mine rehabilitation sign-off in Queensland, in Proceedings Life-of-Mine 2016 Conference, pp 148–150 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Jun 28, 2016

One of the earliest and continuing challenges in driving sustainable development in large scale resource industry projects is around the issue of assessment û how do you measure the sustainability of a mineral operation? One of the key road blocks when confronted with this challenge is the temptation of technical folks to reach for a definition of sustainability or sustainable development. But definitions, by definition, have boundaries and limitations that serve to constrain thinking û they limit the thinking of what we can achieve with sustainability (it also acts as a barrier that constrains innovation). Rather than seeking definitions, better understanding of the core perspectives around sustainability and their application to the minerals industry provides a much more powerful platform from which to conduct assessments. But it is only when these perspectives are combined with the right framework and supporting techniques that the complex becomes doable. With the support of the perspectives and the framework, various assessment and measurement methodologies can be used; the challenge is communicating to stakeholders the sustainability character of the project in ways that are meaningful and to which people can connect. Assessment is not about finding the best or most accurate methods that fulfil strictly academic and possibly abstract requirements. The challenge is to help people understand what the impacts are, and what the value contributions will be, in a format and language that make sense in their world-view.

Jan 1, 2009

By L O. Filippov, A Piçarra, I V. Filippova, N P. Lima, K Silva

The reverse cationic flotation using the starch as depressor of iron oxides is the most efficient upgrading process when is applied to the simple systems composed by hematite/magnetite and quartz. The fundamental studies performed with iron ore samples from different deposits over the world (Brazil, Russia, Mexico) confirmed the inefficiency of starch when the silica content in the concentrate is controlled by Fe/Mg-bearing minerals. The main approaches for solving these issues focused on using new collector formulations or new depressants. However, the alternative depressants tested inhibited flotation of quartz or were less efficient as iron oxide depressant. In this work, a comparison between new amidoamine collector with conventionally used etheramine and oleate collectors in the flotation of pure minerals and actual iron ore samples was performed. The electrophoretic mobility, contact angle and infrared spectroscopy measurements allowed to deduce the hindrance effect as main mechanism of selective adsorption of the amidoamine on the quartz surface compared to hematite and kaolinite. Molecular modelling studies revealed that this steric hindrance effect can be explained by the combination of the "shield" formed by the coordinating water molecules on the (001)-D2 hematite surface and the large volume of the amidoamine head group. The amidoamine tested as collector without use of a depressant showed excellent flotation selectivity allowing the total flotation of quartz from a mixture with hematite. High collector performance and selectivity were confirmed during reverse flotation of quartz using continuous flotation column (D = 500 mm; H = 4000 mm) and allowed to produce the iron concentrates with more than 60 per cent of iron from the rejected slimes samples of Vargem Grande 2 processing plant (Iron Quadrangle, MG, Brazil). The new collector allowed to develop flexible flotation flow sheets to process the iron ore with a complex gangue mineralogy and unlock the old altered tailings and slimes product as new resources

Aug 24, 2022

By P F. Hodkiewicz

"Our understanding of mineral resources relies on three basic steps: data capture data interpretation model construction. Until recently, all three of these steps required significant time and manual effort to produce a single resource model for mine planning, typically taking more than a year to progress from drilling to the final block model. Over the past several years, BHP Billiton has been developing innovative workflows in rapid resource modelling projects to significantly reduce these time constraints and make the process more productive by replacing manual activities with automated ones. Rapid resource modelling is the process of combining recently developed off-the-shelf technology with internal technology developments to fundamentally change the way we collect, interpret, model and evaluate geoscience data. Initiatives include automated systems and standardised workflows to make it safer, faster and cheaper to continuously update multidiscipline resource models. Specifically, rapid resource modelling workflows combine: real-time analysis of drill holes and drill samples with downhole tools and hyperspectral scanning systemsautomated interpretation of drill hole intervals based on pattern-recognition algorithmscontinuous modelling workflows using implicit modelling software. This paper outlines technology developments and workflows that provide a more thorough understanding of mineral resources to support faster and more informed strategic, planning and production decisions.CITATION:Hodkiewicz, P F, 2014. Rapid resource modelling – a vision for faster and better mining decisions, in Proceedings Ninth International Mining Geology Conference 2014 , pp 183–188 (The Australasian Institute of Mining and Metallurgy: Melbourne)."

Aug 18, 2014

By D Kepert, C Simpson, D Edwards

Channel iron deposits (CID) currently supply over 40 per cent of the seaborne iron ore trade out of the Hamersley Province. The two well documented producing systems (Robe and Marillana palaeochannels) were both discovered during early reconnaissance mapping principally by BHP Billiton (BHPB) and Geological Survey of Western Australia (GSWA) during the mid 1950s to early 1960s. Both crop out extensively over the majority of their length. Hot on the heels of Fortescue Metals Group 2004 - 2005 discovery of approximately 2.6 billion tonnes (Bt) of undercover iron ore mineralisation in the Chichester Range, the Fortescue Exploration Department turned its attention elsewhere throughout the Hamersley Province. Reappraisal and analysis of publicly available data and ground truthing of developing models led to the recognition of the Solomon palaeochannel system. Subsequent exploration defined a world-class Resource of some 1.9 Bt of iron ore mineralisation of which the great majority is buried CID. Apart from the Marillana CID system, the Solomon region is the only major CID with significant tonnes of sub two per cent alumina CID with over 500 Mt delineated to date. Exploration has also outlined significant supergene bedded and detrital iron ore mineralisation. Ongoing drilling is expected to increase the resource base both in terms of tonnes and confidence. This paper outlines the principal contributing factors which led to the discovery of the Solomon CID and compares its geology with the Robe and Marillana palaeochannel systems.

Jan 1, 2009

By M G. Hawtin

The Rocklands copper project is a multilode, iron oxide copper gold (IOCG) + cobalt mineralised system located in the Eastern Fold Belt of the Mt Isa Inlier. Rocklands orebodies cover a range of oxidation zones from oxide, to supergene and primary. Each zone contains different economic minerals of interest. The supergene zones contain significant amounts of native copper and the primary zones are dominated by chalcopyrite. The juxtaposition of these oxidation zones and minerals make it an interesting mineralisation system.Current mine production sampling collects a nominal 3 kg drill chip sample from a 1 m composite, RC drilled interval. A site specific sampling procedure was needed to quantify introduced sampling error when taking grade control samples. Due to oxidation and mineralogical variation in ore zones we needed to develop a practically achievable sampling methodology that ensures minimum sample mass and sample error requirements are achieved to ensure ‘representative’ samples for all ore types.These issues are planned to be resolved using an experimentally derived method using principles from the Theory of Sampling. This method uses an experimental calibration of parameters K and a for Gy’s fundamental sampling error formula using a modified 32-piece sampling tree experiment to compile sampling nomograms for the primary and supergene ores. This paper demonstrates the process undertaken to improve the quality and standard of existing mine production sampling procedures at the Rocklands operation.Results indicate a sample mass of 5 kg for RC drill chips is appropriate for both the primary and supergene ores to achieve a fundamental error below 0.01 or 10 per cent relative error, which is slightly higher than the existing sampling protocol of 3 kg. An additional experiment is recommended to compile sampling nomograms using the exact laboratory comminution and mass reduction stage information to assess the use of a 3 kg sample. The results also indicate no changes are required to existing sampling protocols when sampling RC drill chips in primary and supergene ore at Rocklands.Sampling nomogram results also provide a useful ‘rule of thumb’ reference guide to other mining and exploration companies to help understand minimum sample mass requirements and sampling error during exploration drilling, resource evaluation and mining production stages when targeting similar IOCG mineralised systems. A sample mass of 5 kg is recommended when RC drilling similarly IOCG mineralised prospects and deposits in the Cloncurry area. Future test work is recommended when additional open cuts become active as well as including resource drilling drill core to provide better three-dimensional sample representivity.CITATION:Hawtin, M G, 2017. Minimum sample mass from reverse circulation grade control drilling at Rocklands copper project, in Proceedings Tenth International Mining Geology Conference 2017, pp 337–346 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Sep 20, 2017

By A Kobzev, C Robben

Sensor-based particle sorting of gold ores is the masterclass of preconcentration. The technical challenges of a grade in ppm scale makes a direct detection with currently available technology in milliseconds impossible. Consequently, the detection and classification of particles into ore and waste classes relies on detectable proxies which are the foundation for the classification. These must be reliable and repeatable across the ore bodies processed in future. A sensor-based particle ore sorting equipment must therefore be calibrated systematically by understanding the gold deportation in different lithological groups. Also, it must be in best operational state to minimise possible misplacement. The technical challenges are met by a stringent financial regime governing the business case. Many gold ore sorting projects require a stable grade of gold in the rejected waste significantly below 1gr/t. Two examples are introduced in this paper:  The pilot results and operational experience of X-ray transmission (XRT)-based particle ore sorting for pebble sorting of sulphide associated ore;  Laser-based particle ore sorting for pebble circuit of an orogenic, quartz associated gold ore. Usually, sensor-based particle sorters are installed in the crushing section of a plant. However, for large capacity plants, the number of equipment required, and the associated material handling costs result in significant capital and operating expenses for plants with 1200tph run-of-mine capacity. As a conclusion, it was decided to investigate sensor-based particle ore sorting applied to the pebble stream of two existing semi autogenous mills.

Nov 10, 2020

By X Dahe

SLon vertical ring and pulsating high gradient magnetic separators possess excellent mineral processing ability and have been widely applied to process oxidised iron ores. SLon centrifugal separators are applied to clean the SLon magnetic concentrate and remove quartz and other gangue minerals associated with a small portion of magnetite.This paper introduces the application of this technology in Hai Nan, Da Hong Shan and An Shan for processing oxidised iron ores.

Jul 11, 2011

By I Canbulat, A Mcquillan

This paper presents a parametric analysis showing the impact of virgin in situ stresses on a shallow (less than 100 to 150 m) high slope in a jointed sedimentary rock environment. Slope stability is assessed at varying ratios of slope orientation and horizontal stresses. The results of this study indicate stress conditions should be included in stability assessments of excavated slopes, particularly where structure is orientated perpendicular to the direction of horizontal stress. Some consideration of stress state is applied in deep open cut pits (eg those with planned excavations of 400–1200 m) (Myrvang et al, 1993; Stacey et al, 2003; de Bruyn et al, 2014; Kozyrev et al, 2015). Dodd and Anderson (1972), Kalkani and Piteau (1976), Lee (1978), Coulthard et al (1992), Noorani et al (2011) have studied the effect or horizontal stress and its impact on slope stability, showing that tensile stresses tend to develop at the crest of the slope, with larger tensile zones for higher horizonal stresses and steeper slope angles (Stacey, 1970, 1973; Sjoberg, 2013). However, the consideration of virgin stresses on shallow slope stability is less frequent (Lynch et al, 2005; Dight, 2006; Lucas, 2006; Sjoberg, 2013). This has led many geotechnical engineers to believe the impact of virgin in situ stresses on open cut slope stability is minimal and not worth time or consideration in modelling, or their effects on slope stability are still poorly understood (Stacey et al, 2003; Sjoberg, 2013).

Nov 29, 2022

By Woodcock J. T, Zhu T, Sparrow G. J

A lead-zinc-pyrite flotation middling was pressure oxidised to give residues containing iron hydroxy sulphates (a mixture of basic iron sulphate (BIS) and a hydrated iron sulphate (HIS)) and lead sulphate. Direct thiourea leaching of this residue gave over 90 per cent extraction of gold and silver, but thiourea consumption was high (56 kg/t) because of soluble iron(M) in the residue. Attempts were made to decrease the thiourea consumption by removing the water-soluble iron(M) or reducing it to iron(II). Water washing of the pressure oxidation residue removed most of the hydrated iron sulphate but little of the basic iron sulphate. Iron removal was only 12-20 per cent, depending on the number of washes, from one sample which was low in HIS, and 40-45 per cent in another which was high in HIS. Iron extraction was not appreciably increased by using dilute sulphuric acid (with or without additions of sodium sulphite), dilute phosphoric acid, or sodium chloride solution (150 g/L NaCI). Direct thiourea leaching of the water-washed residue gave over 90 per cent extraction of gold but only 49 per cent of silver, with a thiourea consumption of 27 kg/t. However, the application of a water wash followed by reduction of dissolved iron(III) with sodium sulphite in the presence of thiourea, and then thiourea leaching resulted in over 98 per cent extraction of gold and silver for a thiourea consumption of 26 kg/t.

Jan 1, 1991

By O C. Aitken

Mining project developers are committed to taking on all the challenges and obligations of financial risk management. It is interesting that our current models of project finance have not changed markedly in principle for some 700 years, yet the rules which prepare the way for effective project assessment and subsequent loan management still do not seem to be well understood by project or corporate developers. Probability and gravity fill the opposing trays of the golden balance of financial risk. Understanding the relationship between these opposing, but intimately related elements is critically important for successful risk management. It is important to move beyond the qualitative approach and use quantitative methodologies to measure the financial impact of the occurrence of each major risk. We live in a world where the only constant is change and thus it is not surprising that a bankerÆs life is still governed by assessing, measuring and pricing risk. Banks are attracted to funding well managed companies with strong cash flow projects. But we are more risk averse compared with the credit appetites of late last century. This attitudinal shift has resulted in tougher term sheets for the early 21st century, encompassing more conditions, warranties, undertakings and stronger cash sweep provisions. Banks require well balanced portfolios to achieve an acceptable spread of risk, thus there is a more restricted market for small company lending than that available to large multi-project corporate entities with less concentrated risk profiles. Because of this focus, junior company debt finance remains comparatively expensive and especially so for more challenging geographical and political environments.

Jan 1, 2004