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By G. M. J. van Heerden

Paper written on project work carried out in partial fulfilment of B. Eng (Mining Engineering) degree The Union Section of Anglo Platinum is situated ±18 km west of the town of Northam on the north-western rim of the Bushveld Igneous Complex. Both the Merensky and UG2 reefs are mined. Support of the Merensky stoping areas with rock bolts is specifically problematic due to the stoping width restrictions varying around 90 cm. The installation equipment of in-stope rock bolts and the effectiveness thereof in the Merensky stoping areas was critically evaluated. In order to do this a background research on the need for better on-the-face support had to be conducted. The need for improving the rock bolt drilling and the equipment had to be investigated and the financial implications and justifications for the improved equipment examined. To conduct the search an overall study was done on the rockfalls and safety aspects throughout the platinum industry in South Africa and specifically Union Section. It was found that most of the rock falls in the Merensky stoping areas of which ± 70% are less than 1.2 m in thickness generally occurs within 4 m from the face and causes ± 60% of the in-stope injuries. Serious shortcomings had been identified with respect to the airleg, rock drill machine and the drill steels used in the drilling of the rock bolt holes. Through experimentation, using a testing frame built for this purpose on surface and with the co-operation of mine staff and suppliers, a number of possible modifications were identified and tested. This resulted in the final product with which it was possible to drill a 1.2 m hole in the hangingwall of the stopes ranging with an angle to the hanging from 90° for a 90 cm stoping width and 67° for a 80 cm stoping width. It is confidently concluded that this system will effectively improve the total face support and result in a substantial reduction of rock falls and consequently the occurrence of injuries and fatalities in the Merensky stoping areas. The installation of rock bolts on the face with the modified drilling equipment will increase the direct support, but the system has a potential of a substantial reduction in the profile stick support density and an increase in productivity in the stoping areas due to fewer occurrences of rock falls. It was finally concluded that effective modifications to the drilling equipment for rock bolt in-hole drilling could be made and the installation thereof in the stope face is adequately justified.

Jan 1, 2002

[Dr. N.A. Barcza (Chairman) Mr. R.J. Linnell (Vice Chairman) Mr. J. Basson Dr. L.A. Cramer Mr. W.A. Gericke Dr. N.C. Machingawuta Mr. C.S. Mahony Dr. L.R. Nelson Mr. D. St J. Slater Mr. B.J. van der Walt INFACON X TECHNICAL PROGRAMME COMMITTEE Dr. L.R. Nelson (Chairman) Mr. W.A. Gericke (Vice Chairman) Mr. W. Barrett Mr. T.R. Curr Dr. O.F.R.A. Damm Prof. R.H. Eric Mr A.M. Hearn Mr. A.R. Jamieson Dr. N.C. Machingawuta Mrs. L. Mthombeni Mr. F.X. Prins Mr. J. van Tonder ]

Jan 1, 2004

By R. Khanna, M. Dubikova

A variety of carbonaceous reducing materials are being used for the production of ferroalloys. Reductant materials include not just carbons such as coke, coal, char but also bio-carbons in form of charcoal produced from different types of wood. This paper discusses critical properties and reactions of carbonaceous materials and their significance in dictating reductant performance. Main considerations include among others, gasification of reductant, dissolution of carbon into molten metal, and direct reduction of slag by solid carbon. These are discussed in relation to material properties such as structural order, mineral matter content, composition, physical characteristics etc. A brief review of both conventional and novel approaches towards characterisation of carbonaceous materials has been included. Due to complexity and heterogeneity of carbonaceous reducing materials and a wide range of process requirements, the selection of the most appropriate reducing agent will depend on a number of considerations such as the availability of raw material and associated costs, product and process requirements and environmental aspects of waste gas emissions.

Jan 1, 2004

By L. Jurca, C. Gligor

After 1990, a great process of re-organisation and economic reform has occurred in the Romanian mining sector and especially in the pitcoal mining in the Jiu Valley. This process has included both legislation and the main aspects for getting an economic efficiency in the environment issues and for dealing the problems with social impact. Accordingly, starting with the year 1993 a new mining method has been introduced to turn efficient the pitcoal mining, and we speak about mining with caved in bed. This method has two variants: - with transverse strips and caved in bed; - with long face and caved in bed. Each of the above-mentioned variants has in turn several subdivisions, depending on how the longwall is prepared and on other characteristics. By using this method, the output has increased compared to other mining methods. The main safety aspects concerning caved in mining refer to: - great emissions of methane; - technical aspects (a mining method system, supports, discharging process); - pressure driving (analysed for the case of mining with long face, with transverse strips as well for the case of transverse strips when mining a subsequent sublevel).

Jan 1, 2003

By P. den Hoed, R. I. Rambiyana

"Four sulphide minerals - pyrite (FeS2), pyrrhotite (Fe1-xS), pentlandite ([Ni,Fe]9S8), and chalcopyrite (CuFeS2) - contain the base metals and most of the iron in concentrates of platinum group metals (PGMs). In the pyrometallurgical processing of PGM concentrates these sulphides form a matte during smelting, and iron and sulphur are removed from the matte during the converting process. This paper discusses the roasting of Merensky concentrate in air before smelting, with the purpose of reducing the matte load to the converter.Roasting tests were conducted in a bench-scale rotary kiln at temperatures from 350°C to 700°C. The concentrate tested contained 17.4% sulphur and consisted of 23% pyrrhotite, 16% pentlandite, 11% chalcopyrite, and 2% pyrite. The particles were fine (d50 = 22 µm), and all the sulphide particles were liberated. Roasting in air at 550°C and 650°C for 20 minutes removed respectively 60% and 70% of the sulphur. The iron in the sulphides was oxidized to Fe3O4 (magnetite) at temperatures below 500°C and to Fe2O3 (haematite) at temperatures above 550°C. At 700°C the bed sintered and copper oxides formed. At temperatures below 450°C oxidation was incomplete: pyrrhotite remained and only 30% of the sulphur was removed. Smelting tests were conducted to assess matte fall and the deportment of copper and nickel to matte. It was evident that roasting resulted in lower matte falls (a drop of approximately 60%) compared with matte falls from unroasted concentrate. The iron and sulphur levels in the matte were reduced to below 3.5% and 22% respectively.This paper also briefly describes the mechanisms by which pyrrhotite, chalcopyrite, and pentlandite are oxidized during roasting. For chalcopyrite, the mechanism proceeds through an intermediate solid solution phase, which extends from Cu1.02Fe1.04S2 to Cu2.04Fe0.72S2 to a copper-rich solid solution of bornite (Cu4Fe1.4S4-Cu2S). The oxidation of pentlandite proceeds through a monosulphide solid solution (Ni0.39Fe0.53S-Ni0.74Fe0.15S) to a solid solution of heazlewoodite ([Ni,Fe]3}xS2). These mechanisms are explored in relation to chemical thermodynamics and microstructures."

Jan 1, 2015

The coal-based power generation industry faces increased pressure from all sectors to improve its environmental performance. This is due to increased awareness of and concerns regarding greenhouse-and acid-gas emissions, toxic metal releases (to both air and water) and water availability. A methodology to assess this industry?s environmental performance is needed. Such a methodology should assess all environmental impacts accurately, recognizing the irspatial and temporal dependence, and taking into account the social acceptability of technologies employed. Here, we develop a methodology to determine the environ-mental impact associated with solid wastes generated by this industry, and apply this to the specific case of ash management. More specifically, the case study compares the environmental footprint of an ash deposit for a number of operational water management scenarios. The methodology considers leachate generation processes from ash impoundments to obtain a time-dependent concentration profile of mobile constituents at the interface between the ash impoundment and the surrounding environment. This leachate prediction modelling is subsequently linked to plume dispersion modelling tools to determine the fate and transport of leached components, predominantly salts, into groundwater. Together, these provide a measure of the extent to which a land mass is affected by leachate migration from the deposit. To determine the exact boundary between regions of acceptable and unacceptable risk to the environment, we use Ecological Risk Assessment concepts. In this way it is possible to obtain a time dependent affected land footprint which could be used as an indicator of the environmental impact of solid waste management practices. This information can be included in a set of environmental criteria which form the basis of an overall environ-mental impact assessment, using tools such as Life Cycle Assessment (LCA). The value of LCA is that its structure is consistent with accepted models of environmental decision making, where different approaches to valuation in impact assessment assist in prioritizing impacts on the basis of their perceived significance. The proposed ?affected land footprint? metric represents a significant improvement over current LCA impact indicators for solid waste management practices. Keywords: Environmental Impact Assessment, Environmental Risk Assessment; Life Cycle Assessment; coal ash; leachability; salinity

Jan 1, 2002

By M. Hopf

The use of water-cooled copper components as sidewall elements of submerged arc furnaces and other pyrometallurgical applications has become increasingly common. The high cooling efficiency of copper has made it possible to increase the service life of furnace refractories when compared to conventional refractory linings. However, even the self-healing effect of ?freezing? worn areas of the lining does not necessarily protect the copper coolers against wear or corrosion completely. In order to avoid furnace explosions, various methods have been used to monitor the wear of coolers. Unfortunately, these have not been able consistently to identify localized wear. Thos Begbie (South African) and SAVEWAY (German) jointly developed technology to embed a line sensor into the copper cooler during the casting process. This system allows an exhaustive monitoring of the copper cooler. A SAVELINE sensor is placed inside the copper-cooling panel between the water-cooling passage and the hot face of the panel. The sensor follows the meandering shape of the cooling water channels. In the first instance, the sensor provides analogue information as the thickness of the copper reduces. Secondly, this wear signal will be confirmed by a signal of interruption if the sensor is washed away. Because of the structure of the sensor, a self-diagnosis is possible and indications can be confirmed (double proofed).Subsequent to the manufacture of some test pieces, coolers for a large submerged arc furnace were manufactured. The sensorized coolers have been installed at the intermittent surface (slag line) where the largest amount of corrosion has been encountered. The system has been operating since December 2005 in what is considered one of the largest submerged arc furnaces in South Africa. Keywords: Pyrometallurgy, furnace, copper coolers, freeze lining, monitoring, Saveway

Jan 1, 2006

By C. Scheffer

This paper describes a model that can simulate the behaviour of a pneumatic intensifier that is generally referred to as an ?air pump? (AP). The AP is used in many South African underground mines, and utilizes compressed air with pressures between 0.3?0.6 MPa to pump water up to pressures of 12?18 MPa. The high pressure water is used in numerous underground mines to pressurize props and roof bolts that act as safety and roof support devices. The simulation model reproduces the intensifier's operation under various conditions and therefore can be used to investigate the AP's sensitivity towards environmental conditions, design parameters (such as spring stiffness, plunger diameter, nozzle diameter etc.) and operating conditions. Model validation by comparison with laboratory experiments showed good correlation. The model can subsequently be used to investigate design changes aimed at improving the AP's performance and reliability over a wider range of operating conditions.

Jan 1, 2005

By M. Jele

? Sulphuric acid plant in umbogintwini. ? Double absorption plant, capacity of 550MTPD. ? Build by simon curve during the year 1973. ? Side stream plants such as: ? Liquid SO2 Plant, ? Liquid SO3 and ? Oleum plant

Jan 1, 2009

The January General Meeting of the Institute was held in Kelvin House, Johannesburg, on 15th January, 1969 at 4.30 p.m. Mr R. C. J. Goode (President) was in the Chair. There were also present eighteen Members, including Messrs F. P. Bath, H. Britten, J. K. E. Douglas, P. Lambooy, V. C. Robinson, W. T. Stobart and P. W. J. van Rensburg (Council Members), Messrs J. C. Hall, P. C. Pirow, Dr D. I. Legge, Messrs E. R. Rudolph, H. R. Reid, Dr N. Stutterheim, Messrs B. F. van der Merwe, L. W. P. van den Bosch, D. T. Watt, M. Youngworth and T. Zadkin. Two Associate Members, Dr P. R. Jochens and Mr D. A. Viljoen. Two Students, Messrs R. P. W. Henrard and D. Ossin. Sixteen Visitors, including Messrs I. Barnes, B. F. Bath, S. Botha, P. A. du Plessis, K. Edwards, Dr F. S. Fulton, Messrs H. Grant, B. Havenga, L. Kok, Dr D. Lasar, R. Sandler, C. W. Wolhuter and J. D. Young. Secretary, Mr D. C. Visser. Total present: Forty. MINUTES The President: "May we confirm the minutes of the meeting held on the 20th November, 1968, as published in the December, 1968, issue of the Journal?" Agreed. MEMBERSHIP The President: "I have much pleasure in announcing that the names of the under-mentioned candidates, having been published in accordance with By-Law 5.2.2, Council has elected them to membership of the Institute in the following grades: Members: Basil James Jackson and James Petrie Archibald. Associate Members: Ronald Creasy, Hugh Angus McCallum and John Barton Cunliff. Graduate: Hermanus Isak Johannes van der Merwe. Affiliate: Edgar Ramsay. Student: Petrus Daniel Wolmarans. MEMBERS TRANSFERRED TO A HIGHER GRADE From Affiliate to Associate Member: Neil Bradfield and Mervyn Bayard Allman. "I welcome the newly elected members to the Institute and congratulate those members who have been transferred to a higher grade." (Applause). GENERAL BUSINESS The President: "Are there any matters to raise under this heading? If not, we will proceed to the next item on the agenda which is the presentation of today's paper."

By J. N. Van der Merwe

"A major shortcoming of the statistical back-analysis of coal pillar strength is that it relies on the asmined pillar dimensions, not taking into account time-related pillar scaling with subsequent reduction in pillar width. The paper describes an investigation where the rate of pillar scaling was applied to the pillars in the databases of failed and unfailed pillars. The reduced pillar sizes were then used in the same method of statistical back-analysis that had been used in the past.This resulted in an equation for pillar strength which predicts significantly greater pillar strength than the previous statistical analyses, which is similar to the strength which had been found earlier by direct testing of large specimens underground. It is concluded that the lower strengths found by previous statistical analyses are due to the incorrect pillar width being used and that by adjusting the pillar sizes to compensate for scaling, more credible results that correspond to direct testing are obtained.As the newly derived strength equation is time-dependent, it follows that the safety factors and probabilities of failure are likewise time-dependant. An equation to determine the probability of failure is also developed. This results in the safety factor being close to unity at a probability of failure of 50%, which is aligned to statistical expectation. IntroductionSince the Coalbrook mine disaster, caused by massive pillar collapse, there have been several attempts at analysing and defining the strength of coal pillars. It was realized in the very beginning that performing classical strength tests on coal specimens in a laboratory and then transferring those results to real coal pillars could not be successful. The scatter of results is one problem and, more seriously, there is a size effect (at least for small specimens) that made the transformation of strength results to much larger coal pillars underground all but impossible.Two main schools of thought then emerged. Some researchers preferred to perform direct strength tests on large specimens underground, while others relied on statistical back-analysis of failed and unfailed pillar cases, attempting to determine the differences in size and shape that would allow a satisfactory prediction of failure. The latter school of thought resulted in the method that was widely accepted by the South African coal mining industry, described in the landmark publication by Salamon and Munro (1967)."

Jul 1, 2019

By M. L. Smith, G. Karunatillake

Lead-zinc production at MIM, Mount Isa includes three mines, a lead concentrator, zinc filter plant and lead refinery. Lead production is vertically integrated with lead-silver bullion shipped from Australia to London for refining. Zinc is sold as a concentrate. All three mines have reached varying states of maturity mining a multitude of orebodies having significant variation in grades and metallurgical recovery for three metals. Based on current levels of measured resources, the remaining project life is at least ten years. The objective is to schedule production over the life of all three mines so as to maximize the present value of the complex. Additional scheduling complexity arises out of the implementation of long-term schedules, capital expansion projects for both mining and processing, the presence of substantial inferred reserves and interactions with MIM copper production. A large-scale, time-dynamic, life-of-complex Mixed Integer Program (MIP) production schedule was formulated to optimize lead/zinc cash flow based on a detailed life of project production scheduling study. The requirements for such a study are detailed herein. The operational feasibility of the MIP solution is compared against a non-optimal approach to strategic life-of-mine scheduling. The strategic planning emphasis placed on the MIP is compared to the implementation of a life-of-mine schedules at Mount Isa using spreadsheets and other popular commercial mine schedulers.

Jan 1, 2003

By J. N. Van der Merwe

The data base of failed coal pillars in South Africa was analysed with regard to the time of failure in an effort to develop a method to predict how long after their formation coal pillars will fail. It was found that meaningful results could only be obtained by splitting the data base up into groups that displayed similar behaviour. It was postulated, based on observation and experience, that coal pillars fail by a process of progressive weakening progressing into the pillar from the edges. Minimum pillar dimensions to ensure failure were calculated?these were the dimensions that corresponded to a minimum ?real? factor of safety. From the scaling distance required to reach the minimum safety factor, rates of scaling for the failed pillars were calculated based on the observed real lives of the pillars. It was found that the rates of scaling were unique for different mining areas and that they correlated directly with mining height and inversely with time. Using the derived scaling rates, the predicted pillar lives were back calculated for the pillars in the data base of failed pillars. In two of the three groups, the predicted lives correlated well with the observed lives on a one-to-one comparison. In all cases, the predicted lives were in the same time range as the observed lives. Overall, the frequency of predicted lives closely replicated the observed frequency of observed lives of the pillars in the data base of failed pillars. The method was successful in distinguishing between the data base of failed and a representative sample of intact pillars. While the predictions matched the observed lives of failed pillars, the predictions of expected lives for intact (hitherto unfailed) pillars were orders of magnitude greater. It is now possible to estimate the frequencies of future pillar failures for the purposes of mine closure and undermining of surface structures within broad bands.

Jan 1, 2003

By H. J. Glass

Collection, preparation, and analysis of blasthole chippings is expensive. Frequently, interpolation of grades at unsampled locations is considered using techniques like kriging. A pre-requisite for kriging is that an experimental variogram is established. In order to assess the quality of the experimental variogram, a measure is developed in this paper. The measure is derived from analysis of the time-honoured expression relating the variance, semivariance, and covariance. It reflects the weighted average deviation of the summed semivariance and covariance from the biased variance. The proposed measure allows assessment of the influence of key variables on the quality of the variogram. Using simulated data, it follows that the quality improves with an increasing number of samples, increasing density of the sampled locations, increasing regularity of the sampling pattern, and increasing uniformity of grades in the absence of correlation. Application to real data shows that the minimum number of samples could coincide with a marked decrease in the value of the measure. Establishing a threshold value is subject to further research. Keywords: variogram, variance, covariance, semivariance, minimization, sampling.

Jan 1, 2003

Standards And Laboratory Monitoring In Gold Assay Key Components Of Best Practice

Jan 1, 2005

By B. J. Kloppers, J. V. Z. Visser, C. J. Horn

"The long-term plan (LTP) in a mineral resource company is defined by the quality of the mineral resource and represents the result of a series of trade-offs to fulfil internal organizational as well as external business and legislative requirements, ensuring ultimate delivery on the defined organizational strategy.The LTP should as a whole align to a coherent and well-defined organizational strategy, working towards a clearly defined objective while still allowing a tactical response to short-term requirements of the organization. The ability to respond tactically to changes in environment, like the unprecedented five-month strike in 2014 on the platinum belt following the 2012 Marikana incident, is a measure of the flexibility of the plan given the agreed strategy.This paper describes the Lonmin process of linking company strategy with long-term planning, tactical planning, and the execution of the plan through an annual planning cycle to maximize organizational flexibility. This flexibility enables mining companies to respond to the many internal and external forces that impact on both strategy formulation and delivery of results that meet shareholder expectations."

Jan 1, 2015

By C. Mosoane

ERPM was formed in 1893 and as a result of its age, a large volume of data exists in a paper-based format and it was decided to electronically capture data in one of two critical mining areas?namely at Far East Vertical (FEV) Shaft Area (Lower Areas) and Hercules Shaft Area (Upper Areas). The life of mine is dependent on tonnage and grade from these areas. Geostatistical evaluation of the gold reserves has been applied on an ad hoc basis in the Hercules Shaft Area and on a continuous basis in the FEV area. This is the first evaluation using geostatistics that was performed on the Upper Areas. This paper is based on the premise that regardless of cut-off grades, geostatistical estimation (kriging) estimates and locates reserves better than ?traditional? methods e.g. polygonal method, inverse squared distance method and it endeavours to estimate and locate the high grade reserves in the Main Reef Leader of Upper Areas.

Jan 1, 2003

Stope support systems, typically consisting of props and packs, are used extensively in the gold and platinum mining industry to stabilize the rock mass in the excavation vicinity and to reduce the hazard associated with rockfalls and rockbursts. The design of stope support systems was historically based predominantly on past experience and practices, and cost considerations. The recent development of a new and improved support design methodology, has led to the potential for significant increases in worker safety and support cost savings. This paper reviews some of the fundamental rock mass and support criteria that form the basis of the improved support design methodology. The considered design criteria are the height of potential fall; quasi-static stope closure rates; dynamic stope closure rates; compressive hangingwall stresses; discontinuity spacing, orientation and interface properties; effect of support length (stoping width); effect of compression rate; consistency of support performance; a real coverage; support spacing; and zone of support influence. The proposed support design methodology combines both the zone of influence and key block stability theories, resulting in optimized support systems for rockfall and rockburst conditions. The site-specific methodology consists of two stages: (i) a tributary area analysis, and (ii) a zone of support influence and a stability analysis, considering hangingwall failure due to buckling, shear and block rotation, which gives maximum safe spacing of individual support units. The methodology is suitable for designing support systems for both blocky hangingwalls and hangingwalls fragmented by face-parallel extension and shear fractures.

Jan 1, 2001

By J. Whitford

The established crown pillar extraction method at Gold Fields Australia Ltd.’s Crusader Mine, leads to the significant dilution and poor recovery of ore due to caving of the overlying loose rockfill. The application of selectively injecting specifically developed ‘FB200’ ettringite (calcium sulphoaluminate hydrate) type cement grout into loose rockfill to form a stabilised rockfill material, enables an artificial crown pillar to stabilise the surrounding rock mass and prevent caving of the overlying loose rockfill during crown pillar extraction. Investigation of the geomechanical criteria for crown pillar extraction beneath stabilised rockfill has enabled the safe and efficient extraction of two crown pillars at the Crusader Mine. La méthode actuelle d'extraction des piliers horizontaux à la mine Crusader dont la propriétaire est le Goldfields Australia Ltd amène à une dilution sensible du minerai, à cause de l'effondrement du remblai peu compacté qui se trouve au-dessus. Par moyen d'injection sélective du coulis de ciment FB200 ettringite (sulfoaluminate de calcium hydraté) qui a été développé spécifiquement pour cette application, un pilier artificiel est crée et celui-ci empêche l'effondrement du remblai pendant l'extraction du pilier de minerai au-dessous. A la suite des études géotechniques de la méthode, deux piliers horizontaux à la mine Crusader ont été extraites, de manière efficace et sûr. Die feststehende Krone Pfeiler Extraktionsmethode beim Crusader Mine von Gold Fields Australien GmbH, führt wegen caving des overlying lockerer rockfill zur bedeutungsvollen Verdünnung und schlechtem Wiederfinden des Erzes. Der Antrag, ausdrücklich entwickelten 'FB200' ettringite selektiv zu spritzen, (Kalzium-sulphoaluminate-Hydrat) Art kittet Mörtelschlamm in lockeren rockfill, um ein stabilisiertes rockfill-Material zu bilden, ermöglicht einem künstlichen Kronenpfeiler, die umliegende Steinmasse zu stabilisieren und caving des overlying während des Kronenpfeilerherausziehens lockeren rockfill zu verhindern. Untersuchung der geomechanical-Kriterien für Kronenpfeilerherausziehen unter stabilisiertem rockfill hat dem sicheren und tüchtigen Herausziehen von zwei Kronenpfeilern beim Crusader Mine ermöglicht.

Jan 1, 2003

South Africa remains the largest global producer of gold, accounting for 11.3 per cent of total world mine production, which amounted to 2520.2 t in 2005. The benefits and disadvantages associated with hedging practices in general, and among South African gold producers is examined. The wide variety and unique nature of risks faced by the mining industries provide a strong case for hedging. Only the principles of hedging, such as selling ounces of gold in the ground at a pre-agreed price for delivery at a future date as a cost-effective mechanism for price risk management, is discussed. Progressive and cumulative increases in the volume of forward sales in the major producing countries are considered by many to be the cause of the declining gold price over the past decade. In spite of negative publicity, forward selling continued as an industry-wide practice until recently (2002) when the global hedge book contracted by 352 t; contraction amounted to 158.6 t in first quarter of 2006. The objectives and benefits of hedging include continuity and stability of cash flows, stability in price achieved, reduction of frictional costs, and creating an effective management tool. The importance of a defined hedging strategy in reducing uncertainty about the hedging objectives is essential to a successful hedging policy. Historical patterns in hedging revenues at an industry level indicate five distinct periods during which the fortunes of hedgers have fluctuated. Finally, since 2001 the rising gold price and reduced price volatility through the consolidation in the global price means that the need to stabilize revenue flows is less urgent. This has meant that hedging is becoming progressively less important for the mining industry at large.

Jan 1, 2007