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Discounted cash flow (DCF) methods are well suited and recommended as a primary valuation method for mineral assets for which there are at least indicated resources and some form of feasibility study containing engineering, production and capital and operating cost data. DCF methods are also applicable as a secondary or check valuation method for exploration properties for which no technical study has been prepared. For projects where little or no engineering, production and/or cost data is available, the process of formulating a project concept by specialists who do not possess experience and expertise in the relevant technical faculties is totally rejected as a basis for applying DCF techniques as a primary valuation method. Such an approach runs counter to The Australasian Institute of Mining and Metallurgy (AusIMM) requirement to apply relevant expertise to specific aspects of mineral valuation. Technical and commercial inputs to mineral valuation should be reviewed by specialists who have specific expertise in the relevant disciplines, and should be tempered by the quantity and quality of technical evaluation which has been undertaken and the development status of the asset.

Jan 1, 1994

The subject of government involvement in industry is, to say the least, a touchy one. For many it conjures up thoughts of socialisation or nationalisation. For others it is a desirable objective and is seen as a means of social reform by giving government a greater say in the control and distribution of human, financial and natural resources for the betterment of the community. Whatever your point of view, it is difficult to deny that government involvement exists to lesser or greater degrees in all industries. The mining industry is no exception and the degree of government involvement is probably greater than it is in other industries. I think it is important to remember when talking about government involvement in industry to recognise that there are different types of involvement and that all governments have a right, if they so desire, to become involved in whatever way they choose. The decision of a government to increase its direct or indirect involvement must, of course, be taken in the national interest. Governments, if we are still old fashioned enough to believe in ministerial and electoral responsibility, must make up their own minds about whether their actions are in the national interest and they must be prepared to accept the consequences of that action, good or bad. For instance, they must decide

Jan 1, 1975

By Ehlers HK

Mount Isa Mines Limited has 25 rod and ball mills of various sizes installed in two Concentrators at Mount Isa. A continuing investigation into installation, design and materials of liners for these mills has been in progress since the early sixties. Both manual and mechanical methods of liner installation are used and described. Materials for the various applications have been evaluated, mainly by field trials. Design of liners has also been evaluated by field trials and the history of trials in No.4 Concentrator is given. The purpose of the investigation has been to reduce the cost of mill lining and the life of many linings has been greatly increased as a result of this work.

Jan 1, 1978

The Kundana underground narrow vein gold mine had a recent history of large and damaging seismic events. Following a period of seismic events on 30 July 2001, in which nine miners were temporarily entrapped at depth due to falls of ground in several parts of the decline, the mine operation was required to develop a seismic management system to mitigate seismic risk to the operation. A micro seismic systems and boundary element modelling of mine sequence highlighted large-scale footwall faults and the mining of gold bearing shear veins to be focal structures for seismic energy release between depths of 300 m to the base of mining at 650 m. The integration of seismic data, identification of geological structures and mapping of zones of failed rockmass led to the successful generation of a non linear boundary element model and a seismic hazard strategy. This enabled mine sequences to be assessed daily, monthly and periodically for potential seismic hazards and therefore assigned both economic and personnel risks for the recovery of the ore reserve at the Kundana Underground Operation.

Jan 1, 2005

By Batterham RJ

A 'research model' can be used to investigate cause and effect relations and generally improve the understanding of extractive metallurgical processes. As such, it is a useful research technique which complements the traditional methods of laboratory and plant measurement. The procedure of model development is iterative and involves observation of the process, hypothesis of phenomena, prediction using mathematical descriptions of the phenomena and comparison of predictions with real-world measurements. Lack of agreement of predictions with real-world measurements usually indicates an inadequacy in the hypotheses and necessitates revision. Experimentation has an integral role in the process of model development but its emphasis is different from that when experimentation alone is used to study processes. Since a process as a whole is investigated by using a model, experimentation is restricted to the study of specific phenomena to aid the description of these in the model, to the characterisation of the raw materials (for initial values of the model parameters) and to the measurement of physical and chemical constants required in the model equations. Similarly, plant measurements are made for the purpose of comparison with the model predictions not to establish cause and effect relations. This makes plant experimentation much simpler and cheaper'since most measurements-can be taken during normal operation.

Jan 1, 1984

Electromagnetic methods used in geo- physical prospecting for conductive ore bodies have proved successful in Canada,Sweden and other countries. In Australia however the depth of weathering generally exceeds 30 metres. This introduces a problem of highly conductive overburden and renders equipment useful elsewhere virtually ineffective. A discussion of several EM prospecting techniques is presented and a new system under development at James Cook University using V.L.F. transmissions capable of indicating changes in impedance (not only highly conducting media) is outlined.

Jan 1, 1974

Rock bolting provides a supplement or alternative to conventional timber and steel supports. The tensile strength of the bolts lies within a range established by manufacturing quality control. Rock bolt testing determines the ability of the rock, anchor and individual bolt as an assembly to accept load. The.test is performed to the yield strength of the bolt or anchor and deflection is observed. The anchorage index, inches deflection per 1000 lb load increment, is a measure of anchorage quality. This allows comparison with anchorages under ideal conditions. It also permits comparative assessment of roof bolt anchors in a particular environment.

Jan 1, 1971

By S C. Dominy

A high nugget effect and the presence of coarse gold characterises many vein-gold deposits. The effective sampling of these deposits is often difficult because of the relatively low concentrations involved and erratic nature of the gold. Geological complexity often compounds this effect. Underground development, in-fill drilling and bulk sampling/trial mining are often required to delineate Ore Reserves. Winzing is an historical technique that was used to gather geological and sampling data during underground exploration. It permits access to the mineralised structure below the current datum to help determine viability. Winzing has always been considered an arduous and dangerous task. Modern technology has led to the development of the Mobile Supersucker, essentially a giant vacuum cleaner. This system permits safe and efficient winzing activities, and allows the collection of bulk samples for grade estimation. Bulk samples from horizontal development have long been collected to help define mineable grade. However, when defining blocks below current development, there has been over-reliance on ineffective æsmall sampleÆ drill data. The Mobile Supersucker permits safe and cost-effective development of winzes and off-winze sublevels.

Jan 1, 2003

Existing fluid flow techniques may be readily applied to the design of ranges for seam gas drainage. The Reynolds number characterises the flow regime within the pipe and it can be used in conjunction with data on absolute pipe surface roughness to determine the system friction factor. The application of the solution to the isothermal compressible flow equation utili- sing Moody friction factors and the concept of equivalent length of pipe for fittings and valves provides a practical method for sizing gas ranges. The physical capacity of a range can be decreased by the existence of significant quantities of water in the range and also by the ingress of air into the system at poor pipe joints etc. Both problems can be elimin- ated by adequate attention to design detail.

Jan 1, 1982

By Warren M

Many Australian tunnelling and mining companies regularly investigate different methods or equipment in an attempt to keep ahead of their competition. Sometimes the result is a new approach or process which wins a tender or provides an advanced solution to a problem.The Australian Government has a policy of encouraging forward thinking among Australian companies and provides a range of incentives. One of these incentives is currently available retrospectively to 1985 - 86, and the registration process is relatively simple with only one form to be completed. Companies who investigate methods of raising productivity could be reimbursed for the costs of the investigation.

Jan 1, 1993

Project Hobson involves the replacement of an existing 90-year-old above-ground sewer that crosses Hobson Bay in Auckland, New Zealand, and which is nearing the end of its economic life, with a 3 km long, 3.7 m internal diameter segmentally-lined bored tunnel. The $118 M project will offer several benefits to the owner, Watercare Services Ltd, and the local community:provide capacity to meet projected growth in the region,virtually eliminate wastewater overflows into Hobson Bay and the Waitemata Harbour, andremove an obtrusive visual feature and open up the bay for recreational purposes. The geology in the region is a sedimentary formation, which has been significantly influenced by volcanic activity; 49 volcanoes are present within 20 km of the nearby city centre. The geology along the alignment is dominated by two palaeovalleys which have been infilled with a combination of marine alluvium and volcanic deposits. Watercare Services Limited has elected to manage and share tunnelling risk through, among other key measures, the implementation of a geotechnical baseline report (GBR); one of the first uses of this type of document in Australasia. This paper describes the general principles behind the use of a GBR, the development of the GBR used in Project Hobson and some lessons learnt.

Jan 1, 2008

Within the Business Process Improvement Program initiated at Placer Dome during 2003 was the Business Performance Management Project (BPM).BPMÆ s aim has been to extract productivity improvements from individual business units by providing a model for implementing leading practice based management process within the Placer Dome Group, sharing management best practice, injecting new management techniques and instilling a continuous improvement culture. The installation of an underground dispatch system has been a key component of the BPM project at Osborne Mine.Information capture and analysis allows for corrective action to be planned and executed before there is a material impact on the performance of a business unit. This paper briefly describes the principles and practices of effective business performance management, the four processes of a management operating system namely; strategic and tactical planning, implementation and reporting. The identification of business drivers, their measures and associated key performance indicators is discussed. The benefits of an underground dispatch system at Osborne with respect to safety, production and maintenance is described along with the installation process within the mining department that included its configuration, resourcing and roll out.

Jan 1, 2005

By P Gardner

The Kanowna Belle gold mine in Western Australia has reached a depth of 1000 m on the way to 1300 m. A feasibility study undertaken in 2006 identified the mining of E-Block as both technically and commercially feasible. One of the major risks identified in the study was the ventilation capacity, as the existing primary ventilation system would not support the production schedule for mining and a major system upgrade would be required. Failure to provide the necessary airflow would put the project at risk. A review of the airflow requirements and infrastructure options detailed in the feasibility study was undertaken to ensure that the assumptions and design were optimised. This review recommended a minimum airflow of 206 m3/s, but by acknowledging the necessary constraints imposed by mining at depth and re-engineering the mine layout to optimise the primary ventilation circuit, this requirement was reduced to 160 m3/s. This represents a 22 per cent reduction in airflow and a reduction in capital cost that will see mining at depth become economically feasible at Kanowna Belle. This paper discusses the processes that led to a redesign of the mining layout and highlights the importance of including the ventilation network in the optimisation process.

Jan 1, 2008

By Urabe T

In June 1989 a diving cruise of the French submersible Nautile has been carried out on the North Fiji basin spreading ridge. The objective of the cruise was the geological and geochemical study of the active spreading axis and associated hydrothermalism processes. This operation was the third cruise of the French-Japanese STARMER project following two cruises of the R/V Kaiyo in 1987 and 1988.INTRODUCTIONAfter the Seapso III cruise (Auzende et al., 1986, 1988a and b) of the R/V Jean Charcot in 1985, the objective of the Kaiyo 87 and 88 cruises was the complementary Seabeam mapping of the North Fiji Basin spreading axis between WS and 22'S and a systematic sampling (water and rocks) and deep towing (TV and photos) at about every ten milles along the axis.

Jan 1, 1990

By G P. J Dijkema, M A. Reuter

From a material cycles perspective all processes are interconnected and consequently a process can never be evaluated as an isolated and independent unit. This also holds true for the evaluated co-incineration options. Environmental and sustainability issues for example, such as raw material and energy utilisation or air pollution, are a resultant of the whole system of industrial activities. It is therefore important, not to optimise a single process or industrial activity, but rather the whole system. Although engineering procedures for the design of individual industrial units are well developed, the problem of determining the best arrangement of these interconnected units is often far more difficult. Regulation that manages the arrangement of the units for waste processing is still under construction. In the evaluation of co-incineration, analogous principle from process control can be used: feedforward control. This principle includes the determination of which outlets can be used for all process outputs, hence avoidance of any æunusableÆ products or wastes possibly arising from co-incineration. To establish the extent, to which produced wastes are usable, a system overview is necessary, in addition to in-depth information on the subsystems, which produce and can consume wastes. Material cycles modelling can be used as the basis for a tool that supports the development of a suitable playing field. It should provide overview of the system and in-depth information on its subsystems. This tool then represents an attempt to bridge the gap between æholisticÆ industrial ecology and process engineering.

Jan 1, 2000

Early in 1930 William S. Robinson, Managing Director of Zinc Corporation Ltd., anticipated a rise in the price of gold and a devaluation of the Australian currency. 'WS', as Robinson was known, formed a.syndicate in London, which later became incor- porated as Gold Mines of Australia Limited (GMA) to invest in gold mining properties in Australia. GMA examined many prospects and subsequently undertook the development of several mines in eastern Australia. The syndicate also held a number of options and several large reservations for gold exploration in Western Australia over which it was proposed to carry out an aerial survey and thorough scien- tific assessment. To do this Western Mining Corporation Limited (WMC) was incorporated in Melbourne on the 2nd March 1933. The founding chairman of WMC and GMA was the highly respected `Collins House' figure, Sir Colin Fraser. The aerial survey was carried out, and a group of eminent geol- ogists from Harvard University examined many prospects and identified several which warranted development. To finance these activities `WS' formed Gold Exploration and Finance Co. of Aus- tralia Ltd. (GEFCA), in London in July 1934. GEFCA ultimately held 95% of WMC and 62% of GMA. The finance came mostly from London based South African mining companies which had been subscribers to his earlier syndicate plus some American inves- tors. (The Group Structure in 1936 is shown in Appendix `B").

Jan 1, 1988

The published safety policy of Mount Isa Mines Limited, together with details of the organisation and control techniques adopted by management to pursue an active safety programme within the company, is presented. The importance of communication by management through the organisational hierarchy and procedures instituted to ensure rapid and concise feedback on safety concerns are detailed. The paper also describes the role of the occupational health department and safety committees in assisting management to monitor the safety effort of supervisors and employees. Current safety performance levels are tabled together with details of some aspects of the programme on which safety effort will be concentrated in the future.

Jan 1, 1975

By Elber L, Whiten WJ, Cunningham KD, King GL, Bailey CW, Clay PA

The Savage River Mines concentrator treats magnetite ore at about 300 tonne/h, and produces feed for a pelletising plant. The plant incorporates two parallel grinding lines, each consisting of an autogenous mill, in closed circuit with a screen, a rougher mag- netic separator, a ball mill in closed circuit with parallel cyclones, and a finisher magnetic separator. Significant fluctuations in ore grade and grindability make it difficult to maintain pro- duct size in the narrow range desired, and to achieve maximum possible throughput at the same time, using the present largely manual control system. The present paper describes the develop- ment of a control system based on a mini- computer. It has been possible to implement a scheme of on-line estimation of product size which is sufficiently accurate for use in an automatic control system. The size estimation is essentially derived in terms of plant variables which control the ball mill cyclone cut size. Three control functions have so far been implemented and tested. These are control of the feed rate to the autogenous mill, control of water addition to the autogenous mill, and control of the ball mill sump level.

Jan 1, 1978

Deposits of manganese oxides and silicates in the Tamworth area were re-examined. The major deposit at Danglemah consists chiefly of rhodonite and the rare silicate tephroite. It is considered that the manganese was deposited with the original sediments, the silicates being formed later during the intense folding and low-grade metamorphism of the enclosing rocks.INTRODUCTIONMany small deposits of manganese oxides and silicates occur along a belt of eastern New South Wales and Queensland.Some fifty occurrences, most of which have been subject to mining activity, were described by Lloyd (1943) and some of this information was summarized by Knight (1947). The ores have been mined on a small scale since 1884. Small supplies of battery grade ore were won from a number of deposits, while larger quantities of metallurgical grade were sold to the steel industry. Maximum production was in 1918, when 6,500 tons were mined.The siliceous nature of many of the ores and their occurrence in the neighbourhood of granite batholiths led earlier investigators to consider the deposits to be of hydrothermal origin, associated with the granite intrusions. The present work questions this viewpoint.In this investigation, three of the chief deposits in the Tamworth area were seen. These were at Danglemah, which is being mined at present, and Mount Jasper and Manganese Mountain, which were mined in the past. The Danglemah mine is the most accessible and yields the best material...

Jan 1, 1962

By R Farana

The future challenges in mining instrumentation, mainly on future intelligent mines, are to continue providing instruments with the highest level of reliability at the lowest possible cost, and also to take advantage of technology existing in other industries and to adapt it to the mining context. New wireless instruments (smart sensors, smart actuators, smart controllers) would also be very useful, as well as instruments fully adapted to the monitoring of large movements that are observed, in both underground and open pit mines. Mining instrumentation is found to various degrees in most mines, both open pit and underground. Smart mining instruments present a certain number of aspects specific to the environment in which the instruments are installed. Namely, the instruments can be installed either for short-term or long-term purposes. The mining industry is always looking for useful instruments that can provide relevant information on ground behaviour adjacent to mining stopes or permanent infrastructure. The instruments must meet the various criteria, and must also evolve with the new mining technologies that are continuously being implemented. A strong collaboration between the mining industry, research organisations, and instrument manufacturers is the key to meeting these objectives. This contribution describes the current trends on smart sensors and smart instrumentation with Wireless LAN support.

Jan 1, 2003