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By Sorentino C

Mineral valuation may appear to be a special field of financial valuation when in fact it is a subset of general investment decision theory. The only significant difference in mineral valuation is that in the case of valuing an on-going mineral asset, ie a mine, often there is no initial capital outlay involved. One is required to determine what the mineral asset as it stands is worth. But this is the same problem as determining the maximum one could pay today and not incur a loss over the life of the asset. In other words one needs to determine the Net Present Value (NPV) of the asset. The two most widely used discounted cash flow methods, NPV and Internal Rate of Return (IRR) came of age with the rapid adoption of the personal computer and spreadsheet programs. The two methods are directly related as the IRR is a special case of NPV. NPV measures the absolute increase in real wealth that can be expected from a certain investment, which makes it particularly suitable for mineral asset valuation, but ignores the efficiency of the investment. In contrast, IRR gives the expected efficiency of the investment but ignores the increase in wealth aspect. IRR has two serious theoretical weaknesses; multiple IRR's and a very rigid assumption about the rate of return of reinvested proceeds, plus if no initial equity expenditure is involved there is no IRR. The choice of the ""hurdle"" rate can also be a problem and in certain circumstances one can obtain different rankings of mutually exclusive projects using IRR and NPV. Although NPV and IRR supposedly measure financial risk, in fact they only address a very narrow area of risk, namely the time value of money given the real discount rate. They side step the issue of what the real discount rate should be and varying degrees of risk. The classical way to establish the real discount rate is to use the weighted average cost of capital.

Jan 1, 1994

A test model is presented for the simulation of dewatering by gas injection of a porous aquifer above longwall workings. A finite difference model used in the oil industry was modified to match the underground mining conditions. The model is suitable to cope with the problem of dewatering reservoirs of low transmissivity. After comparing more versions, it has been concluded, that the investigated dewatering method can be proposed under special hydrogeological conditions only.

Jan 1, 1988

By Grace B, Cunningham D

The poor quality of bore waters available to the Australian mineral processing industry creates a climate for crystallization of calcium based scales. If ignored, calcite and/or gypsum buildup can cause loss of production and costly unscheduled maintenance. This paper discusses the factors which contribute to scale forma- tion, methods used to monitor buildup and preventative measures (mechanical and chemical) that can be used. A case history il- lustrates the value of using chemical antiscalants.

Jan 1, 1991

By Woodcock J. T, Rummel P. H, Sparrow G. J, MacRae C. M

An automated method, which is believed to be the fastest in the world and which can be used by mineralogically-untrained technical assistants, has been developed for the rapid location of native gold particles and other gold minerals down to 1 pm in size in ores, concentrates, and tailings using a scanning electron microscope. Searching of a 25 mm diameter polished block in 1 pm steps usually requires 3-4 h. Examples of the location of native gold and gold tellurides in drill core sections, in crushed ore samples and gravity and flotation concentrates, and in various metallurgical test products are given. The results have application in ore exploration, in guiding metallurgical test programmes, and in assessing metallurgical per- formance in testwork and in operating plants.

Jan 1, 1991

By Miller M. J, Bauer J. C

The continuous copper drossing process operated at Port Pine since 1962 has had limited copper removal capacity as determined by a maximum tolerable Cu/S ratio in feed and the level of sulphur in blast furnace bullion. Recent process development has been to overcome these limitations to meet increased copper throughput requirements. A sulphur addition system was developed and installed in August 1987. The system has capacity to increase sulphur input by over 150%, meeting the increased copper capacity requirement and also allowing independence from the upstream process for sulphur supply. Developments in process understanding have been applied within the limitations of the existing furnace design with a 10% increase in the maximum tolerable Cu/S ratio.

Jan 1, 1989

By Heidecker A

Several types of drainage structure providecost-effective environmental controls for water supply to Charters Towers and its mining industry. Drainage groves maintain bank-levee, channel, pool, and spring structures. Failure of drainage structures leads to anoxic fermentation of channel fill releasing residues, such as arsenic, which would otherwise pass harmlesly by fixed on sedimentary particles.Experiments along drainage structures indicate that productive agroforestry could be integrated with expeditious development of groves to cope with environmental change.

Jan 1, 1990

By R Lurf, C Weber

In the frame of this paper a holistic dynamic process model approach is presented in order to introduce operational and technical excellence in drilling and blasting. Both on a macro and micro level the single process parts of drilling and blasting are outlined and their interaction is explained. The use of this approach for closing the gap between process planning and process implementation is explained and an example of the value generated is given.

Jan 1, 2007

By Unver B

Longwall advance mining is still the predaninant system of coal extraction in the U.K., contribiiting to sane 70 % of underground coal production. Gate roadways providing access to a longwall advancing coal face are maintained adjacent to a rib pillar under high strata abutment pressures and the caving rock mass. It is very difficult to realistically model such access roadways using mathematical or numerical techniques and hence, predict roadway closure. For the past 15 years, a research group in Nottingham University has been engaged in the study of longwall gate roadway stability using observation methods. Gate roadway deformations have been measured in 224 gate roadways and a comprehensive data base has been established. The paper describes the statistical analysis of this database and presents sane. predictive equations which will enable a forecast of the gate roadway closure to he made. Further field work to validate these equations. is described together with an error analysis. The results are very promising and indicate that it is possible to predict gate roadway closure in the U.K. within practical limits of Accuracy.

Jan 1, 1986

The mine manager is one of the oldest jobs in the world. Over many centuries the fundamentals of how this job was approached did not change much. However since the later part of the 1980s there has been a dramatic shift in the expectations and role of the mine manager as the pressures of globalisation and consolidation have increased the size of companies and the production levels of mining operations. The changes have been dramatic, with demanding requirements on mine managers to continually improve the skill levels of people, to apply and develop rapidly changing technologies and to consider far broader business issues that need to be managed in a truly globally connected world. This paper will attempt to outline some of the issues, the complexity surrounding them and some of the approaches that have been made to manage them. There is not a single correct answer or approach, but there are many key success factors that have led to some amazing levels of performance being achieved as we go deeper, broader and literally move mountains to meet the customerÆs needs for today and tomorrow. This contrasts with many mining operations in developing countries that still have a traditional approach to how they mine. Society is the river of life that continually flows and changes the environment that surrounds it. The pressures from the customers and world growth, shape and force alterations to be made in an industry that has to live with the far greater primal and uncompromising forces of the earth we mine. This has led to some paradigm shifts in how we accept what we manage. TodayÆs mine manager must manage a far broader range of issues, than just how do we get tonnage out of the mine and product out of the ore. These include but are not limited to technical, commercial, product quality and end use understanding, employee and community issues, environmental and the ever increasing complexities of sustainable development. Organisations will have to look at how they structure their management of the business to manage functions to meet the complexity of different stakeholders needs û the business, the employees, the customer and the broader community within an environment that is becoming more attuned to the harm impacts to the world in which we operate. The attraction and retention of skilled people that contribute to the value and worth of the corporation, will become critical to sustain a companyÆs growth. One of the fundamental elements of successfully doing this will always be the skills of the mine manager and his/her extended team with the continued development and support that they will need to meet these demands.

Jan 1, 2006

By McKenzie C, Michaux S

Modern quarrying operations focus attention on blasting operations as a critical component in the overall cost-effectiveness of quarrying. Generally, optimisation of blasting has been linked to the processes of drilling, explosive consumption, secondary breakage, and product haulage to the primary crusher. This approach gives no consideration to the impact of primary crusher feed size distribution on downstream processes, or on the quality (ie shape and strength) of the final product. Blasting operations can be manipulated to produce a wide range of muckpile size distribution. This paper presents the results of studies into the impact of muckpile fragmentation on downstream crushing and screening operations, and includes measurements of primary blast oversize and muckpile fragmentation, together with measurements of size distribution, circulating loads and flakiness for various process streams throughout a quarry processing plant. This paper is an extension of other studies investigating the prediction and control of fragmentation from blasting, and the role of explosive performance in controlling muckpile fragmentation.

Jan 1, 1995

By Parker RJ, Swindells CF

The authors have used the geotechnical study for design of the South Wall of Mt. Newman Mining's Mt. Whaleback Mine to illustrate how geotechnical studies can be economically justified. This is achieved by relating the savings resulting from increased ore recovery and prevention of failure to the cost of the study. An outline of the geotechnical study is provided in the paper, including a brief description of the innovative methods used to investigate geological structure of the mine and descriptions of the methods of slope reinforcement adopted.

Jan 1, 1986

By A G. Thompson, E Villaescusa, D Howard

The Western Australian School of Mines (WASM) has developed a facility for the static testing of full-scale ground support elements (Morton et al, 2007). The test facility consists of several stiff steel frames used to support the sample and a screw feed jack is used to load the sample. A large-scale punch test method has been developed to load various shotcrete configurations. The shotcrete is sprayed on to a rock substrate containing a centrally located circular disc. The rock and shotcrete sample is placed on to the sample frame and restrained on all sides. The circular disc is displaced at a constant rate by the screw feed jack which in turn loads the sample. Instrumentation measures the displacement and the load being applied to the sample through the loading disc. The testing method is described in detail and the results from the testing program are presented. The results show that it is possible through laboratory testing to simulate some of the mechanisms of shotcrete support reactions better than conventional beam and panel tests.

Jan 1, 2008

Evaluation of tyre chains has been taking place at King Island Scheelite for several years. Results indicate that tyre life has been greatly improved in all cases. Good cost sav- ings are resulting on small loaders. The worth of chains is difficult to prove on larger loaders under the conditions at King Island Scheelite. However, the dramatic decrease in the number of punctures has convinced the Company that chains are worthwhile on some larger loaders.

Jan 1, 1977

By Gillies A. D S

The paper presents a review of research in the area of explosible coal dust with respect to safety in the underground mining environment. Research over the last several decades has concentrated on generating dust clouds in small scale laboratory explosion chambers to study flammability limits and the physical and chemical variables which affect explosion propensity. The validity of this approach is discussed and the results obtained for a range of coal types compared.

Jan 1, 1994

Leichhardt Colliery is developed for underground mining of coal seams at depths exceeding 280 m. Investigations of the area were conducted in phases, each designed to delineate seam characteristics more accurately and to indicate with increasing precision the nature of local geological features and the ranges of those coal properties susceptible to variation. The investigational campaign is described phase by phase summarizing evaluation of the area at the conclusion of each phase. Predictions of geological conditions likely to influence engineering planning are contrasted with actual conditions observed during trial mining.

Jan 1, 1974

By Mckenzie CK, Scott A

The injection of coal as an auxiliary fuel in ironmaking blast furnaces has been introduced on many furnaces worldwide. This paper examines the present practice of coal injection and discusses future directions for the technology. This has been undertaken through the use of a heat and mass balance model which predicts the replacement rates of coke by coal and the effect of coal injection on blast furnace productivity. The results indicate that future pulverised coal injection could replace substantial quantities of metallurgical coke, but that the energy balance economics of individual steel plants will have a dominating influence on the future of the technology.

Jan 1, 1987

A nuclear technique utilising the gamma-ray resonance scattering process is used at Isa Mine for the determination of copper in drill core and bulk mineral samples. The Copper Bulk Analyser (CBA) provides quick and accurate non-destructive copper analysis of drill core at costs two to three times cheaper than conventional chemical techniques.The almost immediate availability of sample results enhances the efficiency of the mine geologist in the duties of grade control, design of diamond drilling programmes, and input to planning. The unit has proven to be a reliable and accurate production tool requiring a minimum of technical support.

Jan 1, 1990

By Valenta R. K

Copper-gold deposits associated with iron oxide rich rocks (ironstones) form a distinctive and significant ore association which occurs widely, but not exclusively, in the Proterozoic. The ironstone association is geochemically distinct from the BIF-hosted gold association (Phillips and Groves, 1983). Not only is the former association higher in its copper and commonly uranium, FEE, ¦bismuth, molybdenum contents, but also the ironstones in many cases do not originate as chemical sediments. Although both associations form in metamorphic environs, they reflect differing tectonostratigraphic settings and with consequent differences in ore-forming fluids and ore-forming mechanisms. This paper discusses the nature and origin of the ironstone-related copper-gold association, with particular reference to the Tennant Creek district in northern Australia, and emphasises the two stage origin of mineralisation. The genetic model developed has significant implications for other ore-bearing environments.

Jan 1, 1990

By Quast K

A series of laboratory flotation tests were conducted to evaluate the effectiveness of various depressants as arsenic (and zinc) depressants in the lead cleaner stage of the NBHC mill at Broken Hill. The depressants used included potassium cyanide, ferrous sulphate, sodium hypochlorite, potassium ferricyanide and two Cyanamid commerical depressants, Aerodepressants 610 and 633. A standard roughing stage was completed before the addition of the reagents in the cleaning stage. All reagents tested produced significant arsenic depression, with the best results being obtained with the addition of potassium cyanide and sodium hypochlorite. Some of the depressants activated the zinc in the process of arsenic depression. The best result was obtained with the addition of 90 g/t potassium cyanide at a pH of 10 when arsenic recovery was only 1/4 that of the value obtained for the standard test.

Jan 1, 1991

By Waters JC

Pseudoclastic hydrothermal alteration textures occur within quenched coherent dykes forming part of a subaqueous dome complex (-4 Ma) on Ponza Island, Italy. These textures are similar to those observed in considerably older (-500 Ma) subaqueous volcanic rocks at a number of localities throughout the Mount Read Volcanics in Tasmania and elsewhere in ancient volcanic sequences of this type in Australia. This is significant because the processes of formation, hydrothermal alteration and secondary mineralisation of ancient volcanic sequences may be better understood if we can make comparisons with modern analogues. Observations at Ponza imply that these pseudoclastic alteration features form synvolcanically or immediately after dyke emplacement and lava extrusion. This is compatible with scenarios presented for their formation in ancient sequences in the Mount Read Volcanics, Tasmania.

Jan 1, 1995