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FINANCE FOR EXPLORATION Two factors have basic importance in relation to the availability of finance: the apparent success of continuing exploration activity and tax concessions. It is not proposed to discuss the effect of existing tax incentives, as these have already been outlined and are generally accepted as being reasonably attractive; certainly not a deterrent to possible investors. However, it is obvious that the greater the tax incentives, the greater the amount of money that will be attracted, and the wider the number of people who can be brought into the pool. If, as is suggested, the chance of discovery is related to expenditure and effort, then the more money attracted, the better the prospects of significant finds. It is probably correct to assume that the largest expenditure in mining will come from, or be induced by, people expert in the field, people who are fully aware of the risks and benefits and perhaps making conservative decisions because of this awareness. Insofar as the general public is concerned, while in the first burst of enthusiasm it will frequently follow any promoter, in the long run it too will become more sophisticated and will strongly support only those promoters and companies of good repute and proven record.

Jan 1, 1971

By A Sellgren, M R. Carstens, R Visintainer

There is a wide variety of industrial pastes or non-settling slurries pumped in mining, dredging and reclamation projects as products, refuse and tails. The types and/or names of some of the common ones are alumina red mud, phosphate clays, tar sands mature fine tails, tar sands (CT) consolidated clays and fly ash. The pipeline performance or friction of these varies dramatically with the type, its concentration and the particulars of the actual slurry making it difficult to select pumping equipment and to design associated pipelines. The GIW Hydraulic Laboratory in Grovetown Georgia has tested a number of these slurries over the last 30 years for various mining customers. Where available in the public domain and/or where permission has been obtained, the results of those tests are presented in this paper in a form usable for pipeline and pump system designers and users.

Jan 1, 2005

By C A. Fleming, C J. Ferron, P T. OÆ

A new process is described which allows for direct recovery of base and precious metals (Au and PGMÆs) from sulphide concentrates or other feedstocks. The process was developed initially for application to ores or concentrates that are too low-grade for economic treatment by the conventional smelting and matte leaching process (for PGMÆs). It is now believed that the process may be widely applicable to a variety of materials including PGM concentrates containing high amounts of chromium or magnesium. Operating conditions have been identified under which gold, the PGMÆs and the base metals dissolve simultaneously in a pressure leaching autoclave. The product of this leaching process can then be treated by one of several flowsheets, of which the preferred will likely involve solid/liquid separation, followed by precipitation (or adsorption on activated carbon) of gold and the PGMÆs, followed by copper solvent extraction/electrowinning. Depending on the concentrations of nickel and cobalt, the copper raffinate would either be partially recycled to the autoclave to allow Ni/Co concentrations to build up, or it would proceed directly to a Ni/Co refinery. This paper deals with the pressure leaching process and the recovery of gold and the PGMÆs from the pressure leach product.

Jan 1, 2000

By Tomlinson R. C

The paper will briefly describe planning in the National Coal Board (NCB) and the contribution that operational research makes to it. It will then give details of some of the models in use and will finally consider critically the problems of looking ahead to the next century.

Jan 1, 1977

This paper considers the standard of ore reserve assessments required by lenders when presented to support requests for project based loans. The way lenders use this information to structure a suitable financial package shows why ore reserves should be measured by industry set standards. This in turn raises questions concerning the assumptions used to derive mineable reserves from geological reserves. Consideration of the variety of related problems highlights the need for assessments to be defined according to acceptable standards. These should also address the suitability of the methodology to the assumed configuration of the orebody; the degree of variance and relaibility of estimates of grade and tonnage presented; and the estimation of probability that ore will in practice fall within the defined limits. In an increasingly international marketplace it is appropriate to compare Australian industry requirements to those of similar overseas industries, in this case the United States. Lenders would like to see that individuals responsible for the preparation of ore reserve estimates are certified on the basis of their skill and expereince by an industry body such as The AusIMM. The paper discusses how each of the parameters indicated above may impact upon a lender's assessment of the viability of a project. A number of practical examples are presented where inaccuracies or inadequacies in ore reserve information have led to reduced project performance.

Jan 1, 1987

By Groves J

The sizing and classification circuits at the Mt. Newman Beneficiation Plant have performed satisfactorily. Investigations have been aimed at solving minor problems and achieving small' improvements. Emphasis has been placed on cost reduction rather than metallurgical performance. It has been found that some circuits will give better performance with the sieve bends removed. 1.0 BACKGROUND Mt. Newman. Mining operates a major iron ore mine in the Pilbara region of Western Australia. Rainfall is sparse (average 250 mm/year). Current mining is all above the water table. What rain there is tends to run off quickly instead of soaking in. The total operation produces about 30 Mt/ year of saleable product. Most of this product comes from high grade crushing plants where ore from the quarries is simply crushed and conveyed to product stockpiles. About 3 Mt/ year comes from the Beneficiation Plant.

Jan 1, 1984

By J-M Rendu

Substantial progress has been made over the last ten years in the development of uniform national and international standards covering the definition, estimation and public reporting of mineral resources and mineral reserves. Agreement between the major participating countries has been reached, which includes the requirement that a Competent Person prepare and approve publication of mineral resources and reserves. Most national regulatory organisations have accepted the new standards and have included them in the rules that must be followed by mining companies operating under their jurisdiction. These developments are the result of a concerted effort on the part of professional societies, national regulatory agencies, international organisations, and many dedicated individuals. The historical development of these standards is summarised in this paper. Accepted definitions of mineral resources and mineral reserves are discussed, as well as the definition and role of the Competent Person. Additional effort is needed before the international standards are fully understood, accepted and followed by mining companies, regulatory agencies, the investment community and the general public. Steps being taken toward development of an International Code are outlined.

Jan 1, 2002

Research and Technical Services, Department of Mines Western Australia The nine papers received for this technical session cover a very wide range of hydrological problems in various parts of the world. Three of these papers deal with hydrological predictions for new mines, while three are concerned with the prediction of water chemistry. The three remaining papers deal with gas injection as a dewatering tool, discharge formulae verification and the use of a physical model to predict subsurface strata movement and fracture development due to longwall mining. Hydrological problems in mine planning represent a major risk in many mining operations, booth as a potential life or equipment hazard and a major financial risk. The initial paper selected to review was therefore one by the president of a gold mining company, rather than by one of the specialist scientists, to remind us all that the main reason problems are faced and overcome in the mining industry is usually a commercial one. In one commercial undertaking, the ability to accurately assess future risk is a highly desirable planning tool and hence in mining, the ability to predict the nature and magnitude of hydrological problems is n i-an varxi imnnrfant

Jan 1, 1988

By Hannan JC

Consent to develop and operate a new coal mine in New South Wales (NSW) will be conditional upon a number of environmental controls. In NSW, applications for any new major development associated with coal mining are determined by the Minister for Planning and Environment. The environ- mental conditions placed on the development consent, the coal mining lease and the approvals, and licences under the pollution control legislation amount to a substantial component of any new project's commissioning considerations. The nature, scale and location of projects and the principles of pollution control on which conditions of State Pollution Control Commission (SPCC) approvals are based have a considerable influence on project planning. The design, construction and operation of coal mines in NSW has been progressively modified over the past 15 years, to incorporate increasingly stringent requirements for environmental management. These requirements are in turn, a reflection of a greater community demand for environmental protection.

Jan 1, 1986

Computers are playing an increasing role in the management of technical data in mines. Companies are re-assessing the role of their data processing departments as users demand computer resources in non-accounting areas. Data of all kinds is now being seen as a, company resource, and the role of computing professionals is to help to manage the data flow, not merely to manage computers. The concept of distributed data bases puts the responsibility for data entry, editing and updating with the user. This challenges conservative views of centralized control of computing, suggesting, instead, centralized co-ordination. A survey of the possible applications of computers in technical areas points up the special requirements of handling raw, processed and consolidated technical data. Technical data bases have become flexible as mini- computer hardware and software have rapidly developed. Management has the ultimate responsibility for efficiently administering corporate data bases, and it must ensure suitable policies are developed for this purpose, with enough flexibility to cope with the impact of fast changing technology.

Jan 1, 1980

New Zealand's Land and Income Tax Act 1954 contains unique incentives for companies engaged in mining certain specified minerals or petroleum. Sections 152 and 153 provide for the taxable income of such companies to be based not on profits made but on dividends paid to shareholders. A significant saving in tax results, particularly where profits are not distributed: but the Act attempts to ensure that undistributed profits are used for further mineral exploration and development. To encourage investment in the mining industry, persons taking up shares in a company mining for the specified minerals or petroleum are entitled to a one-third deduction in respect of monies paid on the shares and used by the company for its purposes; and company shareholders may make loans to the company and write-off such loans for tax purposes to an amount of up to half their taxable income. Maximum utilisation of the tax incentives calls for careful consideration as to whether a mining or petroleum company should be financed by way of loan capital or share capital.

Jan 1, 1971

By Kershaw MG

At the Risdon plant of the Electrolytic Zinc Company of Australasia Limited, impurities toxic to the electrolytic production of zinc metal, notably arsenic and antimony, have traditionally been coprecipitated when precipitating iron as ferric hydroxide. With the development of a new lead/zinc mine at Elura, New South Wales, it was anticipated that the concentration of impurities, particularly arsenic, in the zinc sulphide concentrates treated at Risdon would increase. This suggested that an increase in the capacity of the iron purification step in the Risdon plant would be required to cope with the higher input of these impurities.Laboratory investigations showed that the additional capacity would be achieved, either by a massive increase in the amount of iron used as the "collector" in the process, or by a two-stage process. The latter approach was preferred as an increase in the amount of iron precipitated would lead to much higher operating costs and overloading of the existing equipment.

Jan 1, 1985

One of the more recent developments within the mining industry has been the adoption of formal continuous improvement programs. A continuous improvement (CI) program was launched across Kalgoorlie Consolidated Gold Mines (KCGM) in early-2002. The purpose of this program was to identify further operating improvements within departments. The focus of the continuous improvement program was not only on the areas of the operation which were performing below expectations but also on areas of the operation which were performing well but could still be further improved.The effectiveness of a continuous improvement program depends on the stability of the processes in place and the participation of many employees from all levels of the business.Continuous improvement has had some successes and failures at KCGM and this paper will discuss both within the open pits department. Further improvements that could be made to the process will also be discussed. Kalgoorlie Consolidated Gold Mines Fimiston operation is located in the Kalgoorlie Goldfields and it the largest gold mine in Australia producing over 800 000 ounces of gold per annum.

Jan 1, 2004

Near Kangiara in south eastern New South Wales, Australia, a number of polymetallic (copper, lead and zinc, with minor silver and gold) mineral deposits occur within a relatively broad volcanic rock belt, intercalated with limestones, sandstones and shales, of Silurian age. The Kangiara deposit was the most significant for the region.Adjacent to the Kangiara deposit, the unaltered country rocks are more rhyolitic than elsewhere in the volcanic rock belt, and the mineralization is accompanied by silicification, chloritization, sericitization and argillization. The host rocks typically contain a higher K20:Na2O ratio than the volcanic rocks not associated with mineralization.In the Kangiara deposit the mineralization consist of massive (in part banded), fragmental, disseminated and vein-type copper-lead-zinc ores, with the massive and fragmental types divisible into pyrite-rich, chalcopyrite-rich and sphalerite-galena-rich varieties. With respect to this mineralogy, the ore textures and sulphur isotope compositions the deposit can be compared to the stratiform mineralization associated with Silurian acid volcanic rocks at Woodlawn, Captains Flat and elsewhere in the Lachlan Fold Belt, as well as the Tertiary Kuroko deposits of Japan.

Jan 1, 1990

The Curragh mine has complex operating conditions. The mine operates in four seams to produce two coal qualities and is divided into five pits which have different qualities and coal preparation characteristics. The combination of all of the necessary controls to achieve maximum resource utilisation has necessitated the development of suitable software to assist the quality control engineering function. The required software had to be able to plan the optimum yield of coking coal whilst achieving the quality parameters for the coking coal and co-produced steam coal. The program has been designed to evaluate all of the mine faces available for coking coal production. The optimisation of coking coal production is planned and co-produced middlings steam coal determined. The optimum steam coal product is determined using the middlings in combination with bypass production.The computer software to carry out these functions has been designed by using an exploration data base as the raw data source. The program accesses this data and uses a coal preparation prediction program to determine the yield vs. ash relationship for each coal face. A linear program selects the optimum -combination based upon equal incremental ash values. The final output lists feed tonnages, coal preparation conditions, product tonnages and full coal quality data.

Jan 1, 1985

By G L. Simmons, K M. LeVier, R Kappes

The low potential hydrophobic state of pyrite in amyl xanthate (PAX) flotation with nitrogen is of particular interest with regard to the N2TEC flotation technology currently being used for the recovery of auriferous pyrite at NewmontÆs Lone Tree Plant in Nevada. Initially, the N2TEC system had been found to operate satisfactorily, but cyanide in the flotation mill water appeared to be responsible for a loss in pyrite recovery. This supposition was confirmed with laboratory experiments, and a program was initiated to study flotation chemistry variables by electrochemically controlled contact angle measurements. Experimental results show that activation of pyrite in such cyanide solutions can be achieved more effectively with lead than with copper. Subsequently, based on these fundamental studies, significant improvement at the Lone Tree Plant was achieved by lead activation, in which case the recovery increased to expected levels. The effect of activator is particularly significant not only with respect to pyrite depression by residual cyanide, but also with respect to collector (PAX) consumption and the initial state of the pyrite surface. Experimental results show the importance of the pyrite surface state and the rather interesting features of the activation process.

Jan 1, 2005

The problems associated with achieving adequate accuracy for on-site axial flow fan performance measurements are discussed. The ability to test accurately rests heavily on equipment and installation design detail.Aerodynamic performance trials frequently cannot be carried out due mainly to the poor standard of installation design. In a majority of cases this results in unsteady, non-uniform inlet flow conditions to the fan. Details of installation design features and instrumentation, necessary for successful testing, are given for different types of installations and methods of testing. These cover both conventional practice, and new innovations which can provide solutions to difficult problems. Quantitative aspects of flow measurement are considered for various fan and duct configurations.Although the main emphasis is on large primary mine ventilation units which require on-site testing, the principles outlined have wide application to many other types of fan installation.

Jan 1, 1973

By Henderson J, Ward RG

Dissolved oxygen has been measured directly using a rugged, reliable, accurate electrochemical probe system developed for steelworks application by B.H.P. Central Research Laboratories. Furnace measurements show that the steel is generally supersaturated with oxygen and that oxygen contents vary considerably from heat. to heat. Ladle measurements also show considerable heat-to-heat variations. Analysis in terms of ladle deoxidation chemistry differentiates between carbon monoxide controlled and manganese silicate controlled oxygen levels. Deviations from these levels are sometimes due to aluminium present in other added ladle alloys but in some cases the plant applicability of laboratory derived equilibria is questionable.

Jan 1, 1972

By Barber J

The manganese ore of Groote Eylandt is a shallow sedimentary deposit of Cretaceous age. There are a number of deposits which vary greatly in ore texture, density, percentage of matrix and thickness. The thickness in the present five operating quarries varies from 1-5 metres. The mine output in 1973 was 3 million tonnes of which 60% was blasted, the remainder ripped and bulldozed. The shallow deposit and its varying thickness create rather unique blasting problems which must be overcome in order to produce a minimum overall mining cost but not necessarily resulting in a minimum drilling and blasting cost per tonne. Future planning envisages the introduction of site mixed slurry explosives following test work and the application of a twin boom single operator rotary percussion drill. The paper outlines the overall developments,present and envisaged practices and the reasons for these changes.

Jan 1, 1974

By Adranyl W. W

Sub-level caving with bottom ore drawing has gained wide acceptance in rich, soft, low magnetic iron ores because it provides moderate ore dilution and ore losses. The main problem here is the high rock pressure exerted on sub-level drives situated in the sub-level sill pillars. To reduce this effect, the ore block is divided into panels. This paper illustraes the method of determining the maximum panel width providing low maintenance cost of sub-level drives.

Jan 1, 1995