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The hoisting system at the Newcrest Telfer mine is designed for a final duty of 7.35 million tonnes per annum at a hoisting distance of 1450 m. In terms of hoisting capacity (t/h) times hoisting distance it is one of the largest friction hoist installations. Initially, the hoist will be equipped for hoisting 6.5 Mtpa from 1100 m depth. This new drive technology is now well proven by ABB for mine hoist applications with the first installation in commercial operation since July 2001. To date 17 systems for medium voltage drives and another five for low voltage drives have been purchased from ABB for mine hoists. This paper will also deal with skip design and powerful data loggers with diagnostics for local and remote monitoring that are installed in the Telfer mine hoist.

Jan 1, 2005

By Dodd SF

Valuation of mining companies and their underlying assets prepared by brokers' analysts are, by necessity, approximations. The reliability of the valuations is entirely proportional to the quality of available data, the reliability of forecasts and the nature of underlying commodity price assumptions. The latter is perhaps the greatest single cause of gross variations in company and asset earnings estimates and- valuations. Assumptions are often necessary regarding commodity price achievement based on commodity hedge positions. Public disclosure from listed companies provides a sound base from which to project earnings, cashflows and balance sheets. The uncommon disclosure of projected production and cost schedules often reduces the reliability of future estimates. The application of reserve and resource estimates is contentious with practitioners applying differing weightings to importance of resources in estimating mine lives (and therefore cashflow streams). Valuation methods applied in equity markets usually focus on relative value and the identification of pricing anomalies. The commonest ""rules of thumb"" applied in the valuation of mining companies (and therefore their underlying assets) is with the use of year specific price/earnings (P/E) and price/cashflow (P/CF) ratios, with low multiples suggesting undervalued assets, high multiples overvalued situations (but these rules can often be clouded by market expectations of underlying commodity price movements). Another simply applied valuation tool is to examine the examine the value placed on reserves and resources by the market. Inexpensive gold in the ground (expressed as $ of market capitalisation per ounce of reserves or resources) might indicate a buying opportunity, but the market does discount the value of gold in the ground prior to mine development and where development risk is perceived.

Jan 1, 1994

By D Craw

The Rise and Shine Shear Zone is a mineralised low angle deformation zone traceable for at least 7 km through biotite zone schist of the Dunstan Range, central Otago. Rocks from the shear zone obtained from recent drillholes are unweathered and facilitate paragenetic studies. There is a progression of mineral deposition from semiductile foliation-parallel shearing, to subsequent folding, and brittle fracturing. Sheared rocks are dominated by microshears containing fine grained hydrothermal muscovite and rutile that has recrystallised from metamorphic muscovite and titanite respectively. Euhedral pyrite occurs within segregations in the schist and is locally brecciated by the shears.   Arsenopyrite occurs within microshears and is intergrown with hyrothermal muscovite. Fractures within relatively undeformed schist are filled with ankerite, siderite, chalcopyrite, sphalerite and galena and these veinlets also crosscut the microshears. Locally the schist is folded and zones of brecciation, silicification and vein deposition overprint the rock. Vein quartz and albite predominate and arsenopyrite and gold infill breccia matrix and crosscutting veinlets. Sulphide deposition began in the later stages of metamorphism with pyrite deposited in quartz-albite segregations. Subsequent shearing caused brecciation of some grains and accompanied deposition of arsenopyrite ¦ gold and rare sulphides along foliation-parallel microshears. Minor amounts of chalcopyrite, sphalerite and galena were then remobilised in ankerite veins that crosscut the shears. In areas of high strain, arsenopyrite was then deposited as euhedral grains in veins and breccias. Synmineralisation deformation caused the brecciation of some grains and gold was deposited infilling fractures in the arsenopyrite. The paragenetic sequence shows gold mineralisation occurred in two distinct sets of structures (semiductile and brittle) that formed at different times in the formation of the shear zone.

Jan 1, 2006

By A R. Penney

Since mining-induced seismicity first became apparent at the Beaconsfield Gold Mine in 2002, there has been an ongoing program of geotechnical investigations to understand the phenomenon and allow for the development of strategies to manage the risks it posed to personnel, the business and the community at large. Studies resulting from a seismically induced rockfall on Anzac Day 2006 have been extensive, and have advanced the understanding and management of seismicity at the mine. Enhancement of the mineÆs seismic array, implementation of extensive monitoring of ground behaviour, improved ground support and reinforcement design, and ongoing numerical modelling provide a technical framework for the management of seismicity. In addition, extensive involvement of the workforce in risk assessment and the development of standard work procedures (SWPs), has contributed to a æbest practiceÆ approach to manage seismic hazards at the mine.

Jan 1, 2008

By M A. Llano-Serna, D J. Williams, L Bu

Tailings dam failures continue to occur worldwide at an unacceptable rate, averaging two events annually over the last 100 years. Furthermore, tailings dams continue to grow in size, increasing the potential release of tailings and water should they fail. Tailings are generally deposited in a slurry state, with the potential to flow if containment is lost. Understanding the generation and propagation of excess pore water pressure on failure is critical to predicting the flow and run-out of tailings. This paper presents numerical modelling using the material point method indicating that tailings run-out processes may be self-enhanced by the excess pore water pressure induced during the collapse of the containment. Moreover, it is shown that geomorphological features, such as the slope and its surface roughness downstream of the tailings dam, influence the pore water pressure dynamics upstream of the advancing toe.CITATION:Llano-Serna, M A, Bu, L and Williams, D J, 2018. Excess pore water pressure induced during tailings run-out, in Proceedings Mine Waste and Tailings Stewardship Conference 2018, pp 377–383 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Jul 23, 2018

By D Sibthorpe

The employment of a tunnel boring machine (TBM) is the default delivery method for the realisation of traffic, utility and primary resource underground space worldwide, with hundreds of kilometres completed safely each year. This is not yet the case for the mining sector in Australia, specifically underground coal mining. The safety advantages of TBM delivery when compared to New Austrian Tunnelling Method (NATM) delivery, or that of drill and blast, remains unrealised.With coal access drifts ranging between 1000?m and 3000?m in length, the construction of these facilities using TBMs could be done in a fraction of the time when compared to current practice. TBM world records currently stand at 435?m/week or 1600?m/month for the 7.0?m to 10.0?m range. Resource owners and developers should embrace the opportunity to deliver access to their orebodies in only a few months, excluding machine assembly and disassembly time.There are challenges in utilising TBMs for construction of Coal access drifts, such as; TBMs generally being bespoke design, maximising capital efficiency for drift development, and geotechnical variances between projects. This paper explores safer and more cost-effective options. This paper also provides detail of how the configuration within a completed drift could be optimised to ensure all site specific needs are met with regard to future use of the drift. The paper also includes descriptions of the engineering solutions that are available for physical and atmospheric challenges specific to coal drift applications and how the TBM manufactures are adapting to the regulatory requirements are also covered.Due to downward pressure on high cost bases and ever increasing safety requirements the popularity of TBMs in the Australian mining sector can be expected to increase and eventually become the default delivery method for coal drift construction, building them cheaper, faster and?safer.CITATION:Sibthorpe, D, 2014. Coal drift construction by tunnel boring machine, in Proceedings 15th Australasian Tunnelling Conference 2014 , pp 671–682 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Sep 17, 2014

By D Preedy, J K. Claflin, S R. J La Brooy

This paper summarises the lessons learned during a recent carbon reactivation kiln upgrade project at the Sukari Gold Mine in Egypt. The kiln is being replaced to ensure that the plant achieves full value from the current throughput expansion from 5 to 10 Mt/a.The suitability of the original engineering design criteria for kiln selection and the adequacy of the original kiln are reviewed in the light of the carbon chemistry, operating experience and a site inspection of the kiln. Particular aspects of the reactivation facility are discussed including: predrying, preheating, feeding, gas seals, kiln heat transfer, steam injection, counter-current sweep gas flow, carbon cooling, fines minimisation and removal.Design criteria for a carbon predryer, reactivation kiln and cooler combination for carbon heavily fouled by high molecular weight frothers and collectors are discussed and the abridged Ausenco datasheet for the combination is presented.Responses to a request for a budget price sent to most of the worldÆs suppliers of carbon regeneration kilns are summarised.CITATION:Claflin, J K, La Brooy, S R J and Preedy, D, 2013. Ausenco carbon reactivation design criteria, in Proceedings World Gold 2013 , pp 401-410 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Sep 26, 2013

By A Mehrani, F Zamani, A Dehghani

Vibrating screens play an important role in the dry classification circuit of Gol-e-Gohar iron ore processing plant. This circuit was designed to classify the autogenous mill discharge and produce a suitable feed, with K80 about 450 ¦m, for dry magnetic separators. Three parallel vibrating screens produce more than 50 per cent of the separatorÆs feed. The efficiency of the magnetic separator is greatly affected by feed size distribution. In this work, the JKSimMet 5.1 software was used as an analysing tool to assess the flow rates and USIM PAC3 software as the simulation tool to control and optimise the vibrating screens. Samples were collected and the circuit was mass balanced. Then the vibrating screen was simulated and adjustment parameters such as cut-point, bypass and imperfection factor were determined. The product streams of vibrating screens can also be predicted.

Jan 1, 2007

By R Berthelsen

The Peak Gold Mines Pty Ltd (PGM) operations are located approximately 9 km south of Cobar, NSW. PGM currently mines and treats ore from three separate orebodies within 5 km of the original plant. Production from the original Peak orebody ceased in April 2002, with ore currently sourced from underground at New Occidental and Perseverance, while New Cobar supplies ore from an open cut mine. In March 2003, Wheaton Minerals Asia Pacific purchased the operation from Rio Tinto who operated the mine for around ten years. The Perseverance deposit is situated between 600 and 1000 m south of the Peak orebody. Access is via shaft from Peak to 630 m below surface and then by decline to the northern end of the deposit locally known as Zone A. Development of the resource commenced mid 2002 to set up for a long hole open stoping operation at 25 m level spacing. The first production stope was successfully brought on line December 2003. The Perseverance deposit is hosted by sediments and volcanics along the eastern margin of the Devonian Cobar basin and is one of many deposits with the Cobar Gold Field. The Cobar Gold Field has produced approximately 2.5 million ounces of gold since 1880. The Perseverance area had long been considered prospective due to the presence of old workings at the southern extensions of Peak line of lode. Significant mineralisation was first discovered at Perseverance in 1994 when PGM drilled a hole targeted 950 m below the historic workings. The target was based on an apparent plunge to the stratigraphic controls to the Peak Orebody. Subsequent exploration within and around the ægreaterÆ Perseverance area has been significantly aided through the use of downhole electro-magnetic surveys due to the close spatial association between gold and sulfide mineralisation.

Jan 1, 2004

By L D. Redden, M G. Nelson

Mechanical flotation machine design is typically based on hydrodynamic analysis, with scale-up calculated by geometric proportionality. End users often specify and purchase machines on the basis of retention time, characterised by the æ$/m3Æ approach; they may also consider the manufacturerÆs installed base. In some applications, end users also consider specific energy and the impact of energy consumption on operational costs. In other cases, a decision may be based on machine type (forced-air versus self-aspirating) and perceived metallurgical or operational advantages of one machine type over the other. With regard to metallurgical performance efficient bubble-particle contact is very important and is primarily influenced by two factors:the concentration and size distribution of bubbles in the machineÆs contact zone (the volume enclosed by the disperser); and the number of times that slurry is pumped through the contact zone. The second factor is a function of the machineÆs pumping rate and its retention time. Field data show that pumping efficiency is independent of aeration rate. In this paper, a new dimensionless number for the characterisation of flotation efficiency is presented. The contact frequency number (CFN) is defined as the number of times a given volume of slurry passes through a machineÆs active contact region, and is given by: CFN Qp/Qf, where:Qpis the pumping rate through the contact regionQfis the volumetric feed rate to the machine

Jan 1, 2005

By K Smith

This paper presents an assessment of the Robertson (2010a) method within the CPTu inversion parameter framework of Been et al. (1987), using CPTu calibration chamber data presented by Jefferies and Been (2015) and in other literature to assess the validity of the method, with particular focus on applicability of the method to TSFs (i.e. its applicability to loose silts and silty sands). The assessment demonstrates that although the method estimates values of k consistent with calibration chamber data, the method estimates values of m that are generally 1.5 to 2 times greater than calibration chamber data. As a result of this, the method generally overestimates Ψ for values of Ψ less than 0, and underestimates Ψ for values of Ψ greater than 0. This may result in both overly conservative assessment of materials as potentially liquefiable and unconservative predictions of material behaviour for loose materials.

Jul 1, 2021

By G Balog, T Ormerod, D Sidea

Carrapateena is a copper-gold sub level caving operation located in the Gawler Craton, South Australia. One of Australia’s largest undeveloped copper deposits, the project will be a 4.25 Mtpa underground operation, with an estimated mine life of 20 years (OZ Minerals, 2017). First concentrate production was achieved in December 2019, within the Iron Ore Copper Gold (IOCG) hematite breccia complex. The Carrapateena orebody is overlain by 500 m of barren sediments of the Stuart Shelf, which hosts two aquifers. The cover sequence is dominated by shales, quartzites and sandstones in order of thickness. The cover sequence presented challenges to the mine ventilation system as a result of highly variable rock strengths. On this basis, the site developed the first vent rise, Vent Rise 5 (VR5), earlier than required as a means to test the empirical stability assessment. Assessment for VR5 was completed in 2017, with the mine yet to develop through much of the cover sequence. Due to the geotechnical data available at the time, it was anticipated that break out would occur within the vent rise walls as a function of the low strength Woomera shales. VR5 was developed to 4.5 mᴓ in late 2018. The timing of the VR5 development enabled the site technical team to calibrate empirical stability factors for the assessment of future vent rises. At the time of writing, four additional vent rises have been successfully developed to a diameter of 5.5 m. No significant overbreak has been observed within any of the vent rises. This paper is intended for geotechnical practitioners designing large-diameter vent rises in geological environments similar to the Stuart Shelf where a similar approach to vent rise design may be warranted.

Mar 15, 2021

By N Jeannee, L Rattmann, M W. N Buxton, A deJong, K Nienhaus, A Soares, P Graham, A Korre, J Benndorf, D Buttgereit

The flow of information, and consequently the decision-making along the chain of mining from exploration to beneficiation, typically occurs in a discontinuous fashion over long timespans. In addition, due to the uncertain nature of the knowledge about deposits and the inherent spatial distribution of material characteristics, actual production performance often deviates from expectations. Reconciliation exercises to adjust mineral resource and reserve models and planning assumptions are performed with timely lags of weeks, months or even years.The key concept of real-time mining promotes a change in paradigm from discontinuous intermittent process monitoring to a continuous process and quality management system in the resource extraction process. The framework includes a real-time feedback control loop that rapidly links online data acquired during extraction at the mining face, material handling and processing with a sequentially updatable resource model. This will allow near real-time optimisation of decisions related to long-term planning, short-term sequencing and production control.The proposed framework integrates the following building blocks in a holistic manner: automated sensor-based material characterisationonline machine performance measurementsunderground navigation and positioningunderground mining system simulation and optimisation of planning decisionsupdating techniques for resource/reserve models.This paper introduces the real-time mining concept and the building blocks and provides a review of the state-of-the-art. Technological readiness of necessary building blocks is assessed, and critical gaps for further technology development are identified. The value added is illustrated by means of a case study.CITATION:Benndorf, J, Buxton, M W N, Nienhaus, K, Rattmann, L, Korre, A, Soares, A, deJong, A, Jeannee, N, Graham, P, Buttgereit, D, Gehlen, S, Eijkelkamp, F, Mischo, H, Sandtke, M and Wilsnack, T, 2015. Real-time mining – moving towards continuous process management in mineral resource extraction, in Proceedings Third International Future Mining Conference, pp 37–46 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Nov 4, 2015

The excavation of a tunnel through rock and mixed ground of basalt and silty clays presents a challenge to engineering organisations. Such was the situation facing the Melbourne and Metropolitan Board of Works (MMBW) in constructing the 15.3 km, 5.5m dia. tunnel component of the new Western Trunk Sewerage System. The tunnel geology showed that there were two distinct components to the excavation - rock and mixed ground. By drawing on extensive experience in the use of Tunnel Boring Machines (TBM's) used previously by the MMBW and using techniques developed for predicting TBM per- formance, a comparison of the options of drill and blast versus TBM was made. The conclusion was that TBM methods would provide the best solution to the problem. Tenders were called for the supply of a TBM. A performance specification was used to attract tenders offering designs which re- flected the state of the art on an internation- al level. Particular features required by the MMBW were included in the specification. The excavation planning and operation are described in this paper. The production achieved has shown that the TBM can very adequately handle rock excavation (best weekly production 167.9m). Extreme conditions of mixed ground with heavy groundwater inflows have been handled using an auxiliary thrust system to maintain gripper reaction through the soft ground encountered.

Jan 1, 1987

By Gillies A. D S

Rail, port and shipping charges represent 30 to 50 per cent of landed costs for Australian coal mines selling to Asia. This proportion is higher for sales to Europe, yet it is in Europe where Australian producers are aiming for increased market share. The landed cost of coal to the international customer is the key parameter which determines market competitiveness. The objective of this study is to examine Australian export coal competitiveness in terms of transport distance. The approach used examines world coking coal and steaming coal production and the transport distances between major exporting regions and importing countries. Reference is made to the importance of land transport costs and a comparative approach for emphasising the relative magnitude of this factor is developed. Models developed are examined in terms of Australia's exports and a conclusion is reached that a reduction in rail freight costs would be an effective measure for improving the competitiveness of Australia's coal industry.

Jan 1, 1994

By A L. de Ambrosis, S J. Clarke, R Bertuzzi, J Redelinghuys

The M2 Upgrade Project involved widening 15 km of the existing M2 Motorway, which is a key route in Sydney’s road network. The Norfolk Twin Tunnels in North Epping convey traffic over a 460 m length of the motorway. The project involved widening the twin tunnels to provide a third lane and breakdown lane in each direction.The widening of the tunnels was fundamentally different to other ‘greenfield’ tunnel projects in that the operation of the tunnel was maintained throughout construction, with motorway traffic permitted close to the excavation faces on a daily basis. The widened works had to integrate with the existing tunnel support, construction details, and mechanical and electrical infrastructure.The existing tunnel afforded the opportunity to review existing ground conditions in the tunnel. Exposures were mapped within the tunnel, and key design parameters were back-analysed from the original monitoring data to provide increased confidence in the assessed impact from the widening works.Traffic capacity of the tunnels was maintained by detailed staging of the works, and included the ability to reopen the tunnels at short notice.A permit to tunnel system was developed to manage the risks associated with re-opening the tunnel to traffic. A comprehensive suite of instrumentation was maintained to provide reliable monitoring data to support this process. Emphasis on the robustness and reliability of tunnel instrumentation provided increased confidence in the adequacy of the tunnel support being installed. The monitoring was routinely compared with design predictions to check the adequacy of the support measures being installed and confirm the design.The approaches and methodologies developed for the widening of the Norfolk Tunnels were effective in maintaining the safe operation of the tunnels throughout the two years of construction, and provide a framework for increasing the capacity of existing tunnel infrastructure in the future.CITATION:Clarke, S J, de Ambrosis, A L, Bertuzzi, R and Redelinghuys, J, 2014. Design and construction for the widening of the M2 Norfolk Twin Tunnels, in Proceedings 15th Australasian Tunnelling Conference 2014 , pp 591–602 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Sep 17, 2014

By J Lea, D C. Kettlewell

The Carina iron ore deposit lies 105 km northeast of Southern Cross, WA. The area designated the Yilgarn Iron Ore Project (YIOP) is comprised of five prospects along an east-southeast trending greenstone belt that extends from the Helena-Aurora Ranges in the northwest to the Yendilberrin Hills in the southeast, over a strike length of approximately 40 km. The YIOP project encompasses the previously identified iron deposits of Bungalbin, Bungalbin East and Mt Walton. The Carina deposit was discovered by Polaris Metals NL in May 2007. The Carina deposit is located within and parallel to the structurally complex northwest trending Mount Dimer shear zone. The volcanosedimentary Archaean-aged greenstone sequence consists of ultramafic and mafic lavas and flows with interbedded sediments dominated by chert and banded iron formation (BIF). Supergene enrichment processes formed a goethite orebody replacement of BIF sequences within a doubly plunging synclinal fold structure. Mineralised outcrops dominated by goethite form a low ridge 1500 m long, up to 90 m wide and drilled to over 200 m in depth. In the vicinity of the Carina deposit, iron occurrences have been identified over at least a 12 km strike length and the exploration potential of the area is identified as 30 - 40 Mt. Polaris Metals began exploration in the area in 2006. Target generation in the area used existing state geological survey maps and regional magnetic survey data to focus on BIF occurrences associated with major structures. Early field investigations resulted in the identification of a large outcrop of predominantly goethite mineralisation at Carina. Detailed geological and structural mapping was completed, followed by close-spaced reverse circulation and diamond drilling. The mineralisation is predominantly goethite with specular and coarse platy haematite localised along structures that cut the goethite mineralisation. Mineralised zones are moderately vuggy and larger cavities occur in proximity to fault zones that transect the orebody. A capping by a thin veneer up to 9 m thick of canga or ferricrete occurs in places. By December 2008, 178 reverse circulation and 11 diamond drill holes (seven surface holes, four tails) were completed. The current JORC-compliant resource estimate is based on assays from 72 RC drill holes and using a 55 per cent Fe cut-off stands as an Inferred Resource of 27.9 Mt at 58.6 per cent Fe, 1.3 per cent Al2O3, 3.7 per cent SiO2, 0.09 per cent P, and 10.1 per cent LOI. Assaying has recently been completed and will be incorporated into a new updated resource later in 2009.

Jan 1, 2009

Over the past 5 years, Bougainville Copper Limited has undertaken a number of major plant expansions to the copper concen- trate production plant at Bougainville in the North Solomons Province of Papua New Guinea. These projects have scheduled three additional ball mills, three new banks of Outokumpu flotation cells, four additional tertiary screens, two additional tertiary crushers, and more recently four high capacity 24.5m dia. tailing thickeners. The value of the five separate projects totalled more than A$100 million. A requirement of commissioning and bringing on line of each of these projects has been to minimise both operational losses and copper concentrate production. The commissioning has been successfully implemented by detailed planning of the commissioning work in conjunction with the plant operation. Planning has been detailed for each man involved on an hourly basis, highlighting the work required on each commissioning task that is to be undertaken and the time expected to achieve activity Completion.

Jan 1, 1986

By A Purvee, M F. Lee, L J. Mollison

Oyu Tolgoi is a large Cu-Au porphyry deposit in the south Gobi desert, Mongolia. The first of several deep, large-diameter, concrete-lined shafts, Shaft 1, is nearing completion. It will have a finished depth of 1380 m at a diameter of 6.7 m. These shafts will provide access to and hoisting capacity for block caving of deep underground ore. Geotechnical site investigations, and associated predictions of stability and ground support requirements, are compared against actual construction performance. Routine mapping is essential, along with checks against predictions and informing the contractor of ground conditions and variances.Advance rates are compared against predicted rock mass quality. A reasonable correlation exists between Qwall and advance rate. Overbreak and concrete liner thickness is related to the blockiness quotient, RQD/Jn.A ætool-bagÆ of just a few support elements (chain-link mesh, fibrecrete and 2.4 m long friction anchors and resin grouted re-bar bolts) was able to cope with the ground conditions encountered. QA/QC procedures are essential from the factory, through site storage to installation.

Jan 1, 2008

By K Morrison

Australia’s ageing population means that by 2050 there will be 2.7 people of working age to support each Australian aged 65 years and over compared with five working people per retiree today and compared with 7.5 in 1970 (Swan, 2010). This means that there is going to be a greater demand on social services – for medical and aged care – from a smaller private income base. How will this gap be met? Australia is fortunate in that it has vast resources of mineral wealth; from iron ore, nickel and gas in Western Australia to the giant copper and uranium deposits at Olympic Dam in South Australia.The prospect of a meaningful profit based tax on this vast mineral wealth has been lost through Australian government’s handling of the issue in 2010 and with an industry fiercely opposed to the prospect of a mining tax. Hence, new ways of thinking are required. This paper looks at the issues facing the implementation of a novel scheme whereby Australia leases the mineral resources it extracts and thus derives income over the decades the metals are in-use in pipes, wires and structures with a premium paid for unreturned material or that used in dissipative applications. Applicable minerals could include copper, aluminium, nickel and rare earths. If Australia simply digs up and sells the metals once, the buyer becomes custodian of that resource and they benefit from controlling the future ‘above-ground’ resource stock.A complementary driver for a leasing scheme is the increasing importance of chain-of-custody following initiatives of the Responsible Jewellery Council with gold and diamonds, now with the potential to extend across commodities. The Australian minerals sector could thus position itself as a premium supplier with high social and environmental credentials.Recognising the implementation challenges, this paper includes a review of how such a system could be enforced to ensure that the metal is tracked throughout its life. It concludes with a discussion of the rates and terms should such agreements hold and suggestions for institutional arrangements for enforcing compliance.

Nov 22, 2011