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The Joint' Venture Method is a procedure for assessing the value of exploration properties, particularly those for which resources have yet to be delineated. It aims to convert the terms of an actual or synthetic joint venture into the equivalence of an arms- lengths cash transaction between a willing seller and a willing buyer. This paper sets out one approach to achieving that conversion. It discusses both simple and complex cases and gives some examples from both public and private documents. It also includes some case studies in which the Joint Venture Method of valuation can be compared with values derived for the same project using other methodologies including actual cash deals. The Method has failings in both mathematics and logic. However because it does reflect or simulate an arms-length deal which takes into account past exploration effort and expenditure and an assessment of prospectivity at a particular point in time, it is felt that it can provide a reasonable approximation of trade value or asset value of a prospect, particularly if used in conjunction with other methods.

Jan 1, 1994

By S D. Dessureault

In large coal strip mines, there are many different processes at work: stripping, overburden removal using trucks/shovels, cast blasting, slot dozer pushing, more fragmentation and further truck/shovel benches. A key component to each of these steps is the use of machines. In modern operations, most machine costs are tracked within Enterprise systems that transact costs and repair work order management. Similarly, in contemporary mines most machines are tracked using technology that provides precise performance measures for each key process. Such technologies include productivity monitors on draglines, dozers and drills and fleet management systems for trucks and shovels. Linking these two sources of seemingly disparate data û costs and performance by machine û would allow for the precise calculation of unit costs by specific machine. This is similar to an activity-based costing system, except in this machine-based system, calculations are made at an even finer granular level. There are many uses for such an integrated information system in mine planning and performance management, both in real-time and through historical analysis.A real-time fleet costs (FLC) measurement process was developed as part of a larger blending-related, multi-million dollar project centred on a centralised remote control room developed at the University of ArizonaÆs Mining Information Systems and Operations Management Mine Control Center. The FLC component of the overall blending system would allow a mine controller to manage the equipment fleet by viewing its cost in real time and, when mixed with other revenue-related components, the exact profit. For example, a mine controller may show high utilisation while still maintaining a production surplus. This could occur, for example, if the equipment is driven long distances. This might appear in traditional performance metrics as æhigh production performanceÆ, but in reality may prove less profitable. This paper discusses the technical development of the FLC, its deployment and its impact on controller performance, and compares mine profitability before and after its application.

Sep 26, 2011

Traditionally trucks have dominated haulage in open pit mines. Only recently have conveyors begun to be used in the long haul and high lift duties of surface mines. Steep angle conveyors are proven versatile systems for elevating or lowering materials continuously at steep angles to 90¦. This paper describes the design of a bucket-type steep angle conveyor that was developed as a joint research project between the Western Australian School of Mines and the Maanshan Institute of Mining Research in China. The steep angle conveyor can be used as a viable option for transporting blocky ore from open pit mines. A pilot conveyor was constructed and tested to determine its technical and operational feasibility. Furthermore, a computer model based on Matlab mathematical modelling software was developed to simulate the performance of the pilot conveyor. The model enabled to determine the design parameters of industry-scale conveyors to yield satisfactory performance. These conveyors become very cost-effective for those mines having large mine lives and depths greater than about 500 metres.

Jan 1, 2003

By T Laurencont, C Unger

The Mount Morgan minesite, located approximately 40 km SW of Rockhampton in Central Queensland, comprises 270 ha of unrehabilitated land which is the currently the major source of acid mine drainage run-off and seepage to the adjacent Dee River. Additionally, the minesite hosts an Open Cut Pit which contains 9000 ML of acidic and metal-rich water. In the absence of active management of water in the pit, there is a 50 per cent probability of an uncontrolled spill occurring in future years. The development of a contingency plan for management of overflow from the pit in the short term, has incorporated findings from numerous studies relevant to the Open Cut Pit including, but not limited to, water balance, contaminant source identification, toxicity testing, water quality profiling and limnological modelling, and estimates of probability of overflow. Extensive stakeholder consultation and peer review were also undertaken during the formulation of the contingency plan. The medium-term goal of lowering the water level in the pit to reduce the current high probability (50 per cent) of uncontrolled overflow to acceptable levels of risk is proposed to be achieved by a campaign of chemical water treatment. The treated water will be discharged to the Dee River, and sludge returned to the pit. The methodologies used for the selection and development of the water treatment process, that is proposed to involve treatment with lime, are described. Water treatment is the short- to medium-term component of a long range rehabilitation plan for achieving a negative pit water balance, and sustainable management of acidic water across the whole site. Achieving this ultimate goal will involve: reducing the inputs of water to the Open Cut Pit such that the annual water balance is zero or net negative, thus removing the need for water treatment in perpetuity; maximising, by surface rehabilitation works, the quality of run-off reporting to the Dee River; and minimising the volume of acidic seepage reporting to the seepage interception system. Possible strategies for achieving this long range goal consistent with overall site rehabilitation objectives are currently being developed and costed.

Jan 1, 2003

By Schon RW, Stephens CJ

The Whitsunday Volcanics occupy most of the offshore islands from the Whitsunday Group, southeastwards through the Cumberland and Northumberland Groups, possibly extending to the mainland adjacent to Shoalwater Bay, a distance of 370 km. Some of the islands of this group are granitic, but preliminary Rb-Sr data indicate these to represent Permo-Triassic basement. Cretaceous volcanism is interpreted to have occurred during initial rifting prior to the continental breakup of northeastern Australia and subsequent development of the Tasman Basin.The volcanics comprise mainly lithic ignimbrites, with local development of inter-bedded surge and bedded tuff, accretionary lapilli tuffs, lithic concentration zones, and lag deposits. Isolated fluidual rhyolite and dacite domes occur. The deposits are considered subaerially emplaced. A Rb-Sr isochron age for volcanism of 110 Ma is determined from new data. The total thickness of the volcanics is unknown, but a minimum thickness of 4-5 km on Whitsunday Is. is suggested. Eruptive centres are inferred to be distributed throughout the volcanic zone. The volcanics are cut by numerous, dominantly near N-S, dykes ranging from dolerite through to rhyolite in composition.Chemically, the volcanics and dykes exhibit a continuous range of compositions from basaltic andesite, through andesite, dacite, to rhyolite, with minor more alkalic compositions. Phenocryst mineralogy in the silicic rocks is mainly plagioclase, augite, and Fe-Ti oxides, with less frequent quartz and hornblende occurrence. Sr and Nd isoptic compositions for volcanics and dykes are close to mantle values. These data are tentatively interpreted in terms of a lower crustal magma arc source separated from the mantle only a geologically short time prior to Cretaceous magmatism.

Jan 1, 1990

By A Jurg, F Leclercq

The total drill and blast concept is widely known in the mining industry. On the contrary, the quarry industry rarely adopts such working methods. Based on the experience of the CBS quarry in the North of France, this paper shows how up-to-date blasting technology and simple control methods can significantly improve the overall Mine to Mill efficiency of a quarry. The CBS quarry, in partnership with the EPC group and Nitro- Bickford Company, adopted a new working process three years ago aimed at increasing blast performance and related productivity of the downstream process (loading, hauling and crushing). The pattern geometry of each blast is controlled and explosive charging is carried out following the æconstant specific energyÆ CSE concept. This method provides a homogeneous fragmentation distribution and reduces vibration peak-particle-velocities. The impact on downstream productivity is controlled by means of a simple information management system, which collects and measures key parameters of the production process such as; hauling cycles, crusher throughput, secondary breaking and vibration peak particle velocity. This information system has clearly proved over time that consistent blast quality could be achieved, leading to a 30 per cent improvement in quarry productivity. Improved energy control of blasting through optimisation with electronic detonators, allowed a significant reduction in vibration impact on the environment. Improvement in blasting security, reduction in the environmental impact and productivity enhancement are major benefits that quarries can obtain from these CSE optimisation blasting methods.

Jan 1, 2007

By Penttila V

The Paleoproterozoic Hitura Ni-Cu deposit in western Finland is in an ultramafic igneous complex composed of two subvertical plug-shaped bodies embedded in intensely migmatised felsic gneisses. The ultramafic complex is not far from a north-south trending graphitic and sulphidic gneiss zone interpreted to be a primary sulphide-graphite unit in the metasedimentary sequence. The sulphide accumulation exists as a zone parallel to the contact of the northern ultramafic body. The ultramafic rock types, now mainly serpentinites, have primarily been olivine adcumulates in the core grading to olivine orthocumulates and pyroxenites towards the margins. Coarse-grained felsic pegmatite veins injected serpentinite where they now exhibit prominent zoned alteration rims of chlorite, antophyllite and talc. The serpentinite core of the body was primarily an olivine adcumulate derived from a tholeiitic or high-Mg basalt parental magma with about 11 wt % MgO. Metamorphism and alteration have totally changed the igneous mineral compositions and the rock types are serpentinites (from olivine adcumulates), ambhibole-bearing serpentinites and amphibole-chlorite rocks (from pyroxenites). As the result of CO2 alteration talc is an accessory mineral throughout the serpentinite. Like silicates, also sulphide minerals are altered. In the core of the body the low-grade sulphide dissemination still reveals primary igneous interstitial forms. The core sulphides are now mackinawite, pentlandite and valleriite instead of primary igneous pyrrhotite and pentlandite derived from Mss. At the marginal zone the heavy dissemination and net-textured sulphides display pyrrhotite-pentlandite-magnetite intergrowths with magnetite films along cleavage of sulphides, mackinawite in pentlandite and exsolution textures of different low-temperature pyrrhotite phases as the result of alteration processes. Mechanically weak rocks, complicated structures and textures of the ore, magnetite and mackinawite intergrowths in pentlandite and readily-floating MgO silicates cause problems in exploitation of the deposit. Solution to problems come from selective stoping, three-step classification in grinding, froth-washing technique and on-line process control based on ore type determination from process data using an expert System

Jan 1, 1996

By Stewart WJ

Australia's first offshsore well was spudded in on 27th December 1964 and resulted in the discovery of the Barracouta gas field. Further exploratory drilling led to the discovery of the Marlin gas field in December 1965, the Kingfish oil field in April 1967 and the Hblibut oil field in June. 1967. In September 1968, a small oil reservoir was found in a sand below the main Barracouta'gas reservoir. The Snapper gas field was discovered in May, 1968 Information on exploration activities associated with the discovery of oil and gas in the Bass Strait area may be found in the paper, "Exploration in the Gippsland, Bass and Otway Basins, Australia" by B. M. Hopkins. _ Development of the commercial fields is being undertaken on an equal participation basis by Hematite Petroleum Pty. Ltd. and Esso Exploration and Production Australia Inc. Esso Standard Oil (Australia) Ltd. is responsible for the design, construction and operation of the production facilities.

Jan 1, 1970

Mining software packages are used extensively in industry for resource estimation as well as for mine design and operation. Research undertaken in the W H Bryan Mining Geology Research Unit at the University of Queensland has shown that modifi

Jan 1, 1994

By M Littlefair, D Gribble, R Rounsley, I Te

Low-density explosives (LDE) have applications where the explosive properties of ANFO are not well matched to the rock. In particular, rocks that are of low strength and/or well fragmented in situ. Dyno Nobel Asia Pacific (DNAP) has developed a new LDE, BlastLiteTM, which can be used as a cost-effective replacement for ANFO with excellent detonation characteristics. The product is based on ANFO with the addition of a bulking agent. The key to the product lies in the ability of the bulking agent to form a homogeneous blend with ANFO without the need for any emulsion matrix to bind the product together. This results in an LDE of low cost and high weight strength compared to existing commercial LDE products. The product has been trialled extensively and has proven to provide results that are equivalent to, and often better than, ANFO with reduced powder factors. This paper details the laboratory development and results of field trials for DNAPÆs LDE solution: BlastLite.

Jan 1, 2004

By Kuipers A. J

Aberfoyle has been applying computer methods to mine geology in small to medium-sized underground mines since the early 1980's. Recently, the installation of DATAMINE software at the Hellyer Mine in Tasmania has allowed development of computerised applications which assist both mine geologists and mine planning engineers on a daily basis.Comprehensive data is entered into a database prior to survey coordinating to produce a processed database which can be accessed for construction of a variety of plots. The folded and faulted nature of the orebody contacts at Hellyer has necessitated the use of the structure contour method to provide a complete 3-D spatial interpretation. Computer-generated contact intersection points are hand-contoured before digitising and wireframing as a digital terrain model. This wireframe model can be sectioned in any plane for mine planning.

Jan 1, 1990

Gold is actively precipitating at grades up to 80 g/tonne at and near the surface of the Waiotapu geothermal system, located in the Taupo Volcanic Zone of New Zealand. Many characteristics of this active system makes it analogous to the environment deduced for epithermal precious metal mineralisation in the circum Pacific region.The near surface area of the geothermal system is approximately 17 km2, caused to an extent by the upflow of deep, neutral pH fluids being deflected into a lateral flow of several km. This fluid has pervasively altered the rhyolite pyroclastic and ash deposits to an assemblage generally characterised by the term propylitic; major vein mineralisation is not observed. The temperatures at the 1100 m limit of drilling are 300¦C, and decrease to the surface along a boiling point curve.Condensation of steam and H S (subsequently oxidised) at the surface (derived 2from deep boiling) results in the formation of heated acid sulphate waters. These have caused a shallow (50 m) cap of advanced argillic alteration. Mixing of this oxidised condensate with the deep neutral pH fluid appears to be the principle cause of gold deposition from thiosulphide complexes. The major focus of gold mineralisation is in Champagne Pool, a hot spring which fills one of several 900 year old hydrothermal eruption craters.

Jan 1, 1984

By G W. Scott, H M. Lukey

The Lake Superior Region has been a producer of iron ore for over 150 years. Early mining operations concentrated on direct shipping ores, which are the result of post-depositional upgrading principally by deep weathering. As direct shipping ore reserves became depleted, the focus changed to the production of iron ore pellets from taconite. The post-depositional processes responsible for upgrading taconite are regional metamorphism, contact metamorphism and hydrothermal processes (Clout and Simonson, 2005). While these processes are important in iron ore genesis they can also contribute to liberation problems and in some instances reduced pellet quality (Han, 2004). Low-grade metamorphic mineral assemblages can negatively impact liberation and pellet quality. Low-grade iron formation may contain a suite of carbonate minerals including ankerite, dolomite, kutnohorite, siderite and magnesiosiderite. Variation in the distribution and composition of siderite and magnesiosiderite makes controlling the MgO content of pellets difficult. Carbonate minerals also require calcination in the pellet induration process, which requires additional heat to be added to the system, slowing down the induration process and reducing throughput. Prediction of carbonate mineralogy and carbonate mineral chemistry is an important goal of ore characterisation for pelletising properties. Contact metamorphism causes changes in mineralogy and grain size (Klein, 1973; Gunderson and Schwartz, 1962). Increasing the grain size of magnetite should improve its liberation characteristics. However, plant grinding targets may not allow the coarse-grained, more easily liberating magnetite ores to increase throughput and can actually result in decreased throughput due to recirculation. While magnetite and martite ores are well understood (Lukey, Johnson and Scott, 2007) late open-space filling microplaty haematite ores are not. These ores, while composed of similar minerals, have a unique genesis that results in fine grain size and complex textures that present liberation challenges and often make interpreting laboratory metallurgical test results more difficult.

Jan 1, 2007

Longwall mining in Australia is approaching maturity. Longwall production from 'state of the art' Australian longwall mines now rivals similar US based longwall operations. Regrettably however, Australian gate road development rates in general fall short of the required development to longwall production ratios that are required to sustain annual longwall production capabilities. By contrast, most US based longwall mines achieve the required development to longwall production ratios to sustain their longwalls. This is despite many having to drive three heading longwall panel gate headings to meet regulatory requirements.

Jan 1, 1998

By Thomas CG, Armstrong GJ, Lynch KS

A small glass walled pot grate has been used to simulate drying of iron ore pellets in a travelling grate plant. This equipment has enabled the effect of decreasing grind and de- creasing pellet bulk density on plant production to be quantitatively predicted. These predic- tions are compared with plant experience. The use of the laboratory simulator in comparing the effect of various additives on plant production is also described and substantial improvements in both the goethite and free-water drying periods are predicted.

Jan 1, 1972

By Menne D. M, Ladyman R

Camel Creek Mine operated by Lynch Mining Pty Ltd is located 65 km west of inghain and 160 kin north west of Townsville in North Queensland. (Figure 1). The Camel Creek gold mineralisation was discovered in mid-1987 in an area previously known for its tin workings. Mining commenced in January 1989 after an oxide reserve of 1.2 million tonnes @ 2.1 g/t gold had been delineated. The first gold pour was in May 1989. The mine developed into a medium sized open cut operation, with full site facilities. The initial mining rate was 500 000 tpa utilising run-of-mine (ROM) heap leaching to recover the gold. By the end of 1990 the wider orehodies were mined and efforts were focused on the narrow orebodies, of width typically less than three metres. Smaller earth moving equipment was employed to selectively mine the narrow orehodies leading to a decrease in the mining rate to 200 000 tpa. The Red Gold deposit (80 000 tonnes « 3.0 g/t to 18 in vertical) was mined in mid-1990 and ore was hauled approximately 8 kin to the Camel Creek heap leach operation. The ore was hauled in a dedicated campaign after being stockpiled. The cost of dedicated ore haulage ensured that only the more exceptional of the remote orebodies could be mined in this manner. The Golden Cup orebody, some 20 km from Camel Creek, was too distant to permit ore haulage. However, this prospect contained sufficient gold (initially 90 000 tonnes @ 3.0 g/t) to warrant the installation of a small mobile adsorption facility. Construction of the second heap leach operation commenced in late-1990. Gold production commenced in early April 1991. Mining of several smaller orebodies remote to the second heap leach facility has been undertaken and further mining is planned. This paper outlines heap leaching practice at Camel Creek Mine and summarises the success of the Golden Cup heap leach.

Jan 1, 1994

By Kramadibrata S

Over the years many attempts have been made to develop a means of assessing the excavatability of rock. Most of them are based on an empirical rating system while some authorities still propose the use of seismic velocity as a direct predictor of the rippability of a rock mass. On the other hand there are a number of classical models which have been developed to define the cutting force required at the pick or tooth of continuous miners.While these methods have been applied with various degrees of success to the design of excavation systems there is no generally acceptable method of defining the excavatability or cuttability of a rock mass in terms of the machine power required to generate a particular rate of production.The authors have attempted to overcome this deficiency by recording the intact and rock mass properties at a number of surface mines where continuous miners were in use and to use this data to examine the relationships between the relevant dimensionless groups developed from a dimensional analysis of the problem.The results obtained are encouraging and it appears that this new approach to the problem could lead to civil and mining engineers having a means of predicting the cutting power required to excavate rock at a given rate at any site.While this paper does not include a review of past work it refers to a number of key publications which will give the reader an excellent introduction to the subject.It is important to point out that the research work reported in this paper is part of a doctoral research project at Curtin University of Technology on the Influence of Intact Rock and Rock Mass Properties on the Design of Surface Mines. One of the major objectives of this project is to explore the possibility of developing a technique for predicting the excavatability of rock in surface mines at the design stage.This paper therefore commences with a brief reference to the continuous surface miners in use at the test sites followed by some original work by the authors in applying Dimensional Analysis to analyse the macro-performance of mechanical excavators. Following an analysis of the experimental data the authors validate the wider use of the model by referring to its successful application in predicting the power required to excavate rock by continuous surface miners at other sites.

Jan 1, 1995

By Lawson F

Narrowly sized samples of synthetic chalcocite (Cu2S) and covellite (CuS) were leached in oxygenated acidic sulphate-chloride solutions. Chalcocite leaches via a two-stage process, the first stage being much more rapid than the second. The apparent activation energies are 42.7 kJ/mol and 68.2 kJ/mol respectively, indicating that both stages are controlled by surface chemical reactions. The leaching of covellite is also chemically rate limited with an apparent activation energy of 77.0 kJ/mol. The shrinking core model is able to be used to describe the leaching processes of both copper sulphides. Over 97% of copper present in chalcocite dissolved in 0.5 M H2SO4i0.5 M NaCl solution under one atmosphere pressure of oxygen at 85¦C in three hours from particles 36 pm in diameter while only 85% of the contained copper in covellite particles 13 pm in diameter dissolved in the same solution under the same pressure at 90¦C in six hours. About 99% of the sulphide sulphur in chalcocite was oxidised to elemental sulphur while only 90% of sulphide sulphur was converted to elemental sulphur during covellite leaching. The mechanism proposed for the two-stage leaching of chalcocite particles is as follows: in the first stage, cuprous ions rapidly diffuse to the external reaction surface where they lose electrons and go into solution as a complex cupric chloride ion CuCl'. The second leaching stage begins when covellite is formed at the external surface. Copper again goes into solution as the CuCl* ion. The mechanism for leaching synthetic covellite is similar to the second leaching stage for chalcocite except that the leaching rate of synthetic covellite is substantially lower than that of the newly formed 'covellite'. Elemental sulphur formed on the particle surface retards the dissolution processes during both chalcocite and covellite leaching. The presence of chloride ions is necessary if essentially all of the copper from chalcocite is to go into solution. When no chloride ions were present, the leaching rate of both newly formed and synthetic covellite was almost zero. The main role of chloride ions in both chalcocite and covellite leaching appears to be to disrupt the passivation film of sulphur on the particle surface.

Jan 1, 1989

By S S. Kanchibotla, D La Rosa, R W. Pesch

The Porgera Joint Venture and Dyno Nobel have commissioned a joint project to optimise the drill and blast operations to increase the overall profitability of the mine. One of the aims of this project is to increase the throughput of semi autogenous (SAG) mills by optimising the blast fragmentation. A number of test blasts were conducted during the period May 2000 to January 2002 and the ore from these blasts was campaigned through the mill. The data from these trials suggested up to 15 per cent increase in the SAG mill throughput with high energy blast designs. However, changes in ore geology (shape, structure and hardness) and potential ore dilution/loss and wall damage have raised concerns about the economic benefits of these designs over the entire orebody. The lack of a system to track the economic benefits of these modified designs has also compounded these concerns. PJV and DynoConsult, the consulting arm of Dyno Nobel have initiated steps to minimise the potential for ore dilution and wall damage resulting from these modified designs. DynoConsult worked with Julius Kruttschnitt Mineral Research Centre (JKMRC) to develop and implement a blast management system to track the quality of blast implementation and down stream process benefits. This paper discusses the implementation of the system and the results achieved to date.

Jan 1, 2003

Magnetic separation using particle rotation in a continuously rotating magnetic field offers very low to insignificant non-magnetic particle entrapment, and precise magnetic fractions. The precision of rotating magnetic field separations makes the method ideal for dry laboratory magnetic analysis work, where conventional laboratory magnetic separators can give misleading or uncertain data. The very low entrapment characteristics make the method ideal for entrapment-critical separations within the diamond exploration industry or in gold recovery. A single wet rotating magnetic field (RMF) unit is able to achieve a cleaner separation (at similar or better recovery rates) than a three-stage separation using conventional wet drum separators. The RMF separator is able to work effectively at particle sizes below 50 ¦m, and RMF separation could, at least in theory, be used down to single domain particle sizes. Rotating magnetic field (RMF) separation is carried out by magnetically spinning the particles at frequencies up to 300 Hz. The particle rotation itself may be used to roll the particles out of the separator. At angular velocities of 100 Hz, magnetic flocs are unable to form, and any entrapped particles are energetically expelled. In an RMF separator, the outer drum can be stationary while the inner magnet rotor rotates, allowing, for example, the injection of cleaning water underneath the separating magnetics to help remove small suspended non-magnetic particles.

Jan 1, 2000