Search Documents

By G Fahey, S Rose

"Mining geology as a defined profession is only about 100 years old. The successful modern mine geologist needs to be a multidisciplinarian, but also needs to maintain a focus on the key outputs of the role. The technical skills needed in the role have increased as mining methods move to increasingly mechanised techniques. As well as being the guardian of the orebody and ensuring minimal dilution to expected ore grades, the mine geologist should be competent in the 12-point mine geology process. The mine geology process should include:a statement of purpose (a ‘mission statement’)geological mapping/logging system that supports consistent and regular geological data collection, storage, and interpretationsampling system that can produce representative samples and fits in with the mining scheduleassay database with relevant controls to ensure only ‘clean’ data is loadedsimple quality assurance / quality control (QA/QC) system for samples and assays, with a response process to react to out of specification resultsconsistent method of exporting, visualising, processing and interpreting assay data to create mining blocksdevelopment sign-off system so that all development and stoping is controlledproduction tracking system to monitoring and reporting what ore and waste volumes have been moved from the face, to any intermediate stockpiles, the run-of-mine (ROM) pad and into the crusherreporting system for daily, weekly and monthly reporting of tonnes and gradesdocumentation so that the grade control system has simple, but effective descriptions of how it works, who has responsibilities, and authorities, and be easily maintainedreconciliation system to compare resource and reserve to grade control and to mined and milledtraining system so that the geology team can quickly become competent.In this paper, the authors discuss the requirements of each point, and comment on common shortfalls observed by them over several years’ experience on producing mines worldwide.CITATION:Rose, S and Fahey, G, 2014. Modern mining geology, in Proceedings Ninth International Mining Geology Conference 2014 , pp 461–466 (The Australasian Institute of Mining and Metallurgy: Melbourne)."

Aug 18, 2014

The Sishen iron-ore-mine produces 3 pro= ducts with size gradings of 25 to 8 mm, 11 to 5 mm and 5 to 0,2 mm and has a product capacity of 20 Mtpa. Ore is produced at an average Fe content of 66,2 % Fe for the two coarser pro= ducts and an average of 65,3 % Fe for the fine ore product. Three stage crushing is practised to re= duce the run-of-mine ore to -90 mm after which it is screened into five different size frac= tions of which four are heavy media beneficiated in static baths and cyclones and the fifth frac= tion discarded to slimes dams. A final three stage crushing and screening process is employed to produce the final three Products which are homogenized by means of blen=ding systems nrinr to despatch.

Jan 1, 1987

By R Bertuzzi

"This paper presents preliminary results of ongoing research being carried out at the University of New South Wales Australia (UNSW) into improved methods for estimating rock mass strength. In this paper the rock mass strength of Hawkesbury Sandstone is assessed. An estimate is first made based on an extensive database of intact rock strength data being collated by the author and the assumption that rock mass strength can be determined following the geological strength-index (GSI) approach. The resulting strength envelope is then compared with nine documented case studies where stress induced failure has occurred in tunnels excavated within Hawkesbury Sandstone. The case studies cover a range of conditions: construction dates from 1880s to 2006 spans from 3.2 to 12.5 m depths from 17 to 124 m excavation methods of drill and blast, roadheader and tunnel boring machine (TBM).Finite element modelling is used to assess the likely magnitudes of the principal stresses that were present at the time of the failures. The finite element models are interrogated to provide the values of major and minor principal stresses in and around the mapped failure zones. Failure and stable points are then compared to the proposed strength envelope(s) of Hawkesbury Sandstone derived using the Hoek-Brown and the spalling criteria. The ability of the Hoek-Brown rock mass strength criterion to differentiate between the ‘failed’ and ‘stable’ zones is considered to be remarkable.CITATION:Bertuzzi, R, 2014. Estimating the rock mass strength of Hawkesbury Sandstone, in Proceedings AusRock 2014: Third Australasian Ground Control in Mining Conference, pp 417–424 (The Australasian Institute of Mining and Metallurgy: Melbourne)."

Nov 5, 2014

By K G. van den Boogaart, U Mueller

"An accurate prediction of benefit for some types of ore may require not just the ore grade, but a whole compositional characterisation of the estimates; that is, its full mineral composition including waste composition and nuisance elements. An example is Nickel laterite ores, where Ni/Co content must be complemented by estimates of many other elements, as these might have a notable impact on ore processing.Estimates are often obtained with (co-)kriging or co-simulation; however, geostatistics applied to compositional data may yield spurious and inconsistent results because of the constant sum constraint. The log-ratio approach avoids such problems. It proposes a three-step procedure: data are mapped to a set of log ratios of components; for example, the additive log-ratio transformation (alr) transformed scores are modelled with an appropriate fully multivariate geostatistical toolbox; for example, direct/cross-semivariograms and co-kriging or co-simulation results are back-transformed to the original units.Some practical aspects may make the application of this technique difficult: the assumption of Gaussianity and the high dimensionality of the compositions combined with the need for using multivariate methods. This contribution compares several ways of treating compositional data (combining normal score transformation, log-ratio transformations, and minimum/maximum autocorrelation factor (MAF) decomposition) with respect to their ability to generate sensible simulations. The various approaches considered are illustrated with a Nickel laterite data set for which ten variables are available. Both theoretical considerations and illustration results suggest that the best combination is (log)ratio-normal score transform-MAF, in this order. The factors so obtained are closer to Gaussian, approximately spatially decorrelated and can be simulated independently. Simulations can later be recombined to alr-simulations, which in turn may be converted back to point compositions. The resulting simulated compositions are compared with a full Gaussian co-simulation of the raw data. The log-ratio methods show reasonable to good reproduction of mean values, and distribution of the data set and by construction satisfy the total sum constraint, in contrast to the simulations based on raw data for which the total sums fluctuate strongly.CITATION:Mueller, U, Tolosana-Delgado, R and van den Boogaart, K G, 2014. Approaches to the simulation of compositional data – a nickel-laterite comparative case study, in Proceedings Orebody Modelling and Strategic Mine Planning Symposium 2014, pp 61–72 (The Australasian Institute of Mining and Metallurgy: Melbourne)."

Nov 24, 2014

By S Gezgin, F Beckstein, M Müller, D Rapp, D Sergeev, J Qi, A Lichtinger

Salts and their mixtures play an important role for industrial and energy sectors, eg metallurgy, biomass gasification and combustion, nuclear and solar powerplants and electrochemical processes. Depending on the composition of salts (eg Li+, Na+, K+, Mg2+, Ca2+ // NO3-, F-, Cl-, CO32-, SO42-, etc), the temperature range for different applications can vary starting from room temperature and going up to 1500°C. For the proper design and modelling of heat exchangers and other equipment, it is necessary to have reliable and validated data sets of thermophysical properties. The 50 mol per cent NaNO3 – 50 mol per cent KNO3 salt mixture as a well-studied composition was selected for validation of relevant thermophysical properties (heat capacity, enthalpy of phase transitions, thermal expansion, viscosity and thermal conductivity). To study these properties of the liquid phase, special crucibles and approaches should be implemented. Verification of these crucibles for different methods (differential scanning calorimetry (DSC), thermomechanical analysis (TMA), laser flash analysis (LFA) and rheometers) has been performed. The low thermal conductivity of salts is one of the main problems in implementing latent heat storage. In this project, the authors intend to develop a fundamental solution to this problem using chemically bonded metals with salts. These are known as metal-salt solutions. To fit the main parameters of new phase change materials to the requirements of thermal energy storage, a wide variety of possible combinations should be considered. CALPHAD modelling is used together with thermal analysis for the development of a consistent thermodynamic database including chloride salts (Li, Na, K, Mg, Ca // Cl) and corresponding metals (Li, Na, K, Mg, Ca). The results of the study of quasibinary and multicomponent metal-salt (eg Mg-KCl and Ca-KCl) systems as well as the selection of suitable crucible materials and challenges by studying of these systems will be discussed.

Aug 21, 2024

By C M. MacRae

The characterisation of high-P iron ores by field emission gun electron probe microanalyser (FEGEPMA) was carried out to determine elemental associations in iron oxides sensus lato and, using this knowledge, to speculate on possible P incorporation mechanisms in goethite. Quantitative data was collected from two goethite-rich bulk ores and results showed that in both samples goethite was the main repository for phosphorus. The P-rich goethite also contained elevated levels of both aluminium and silicon.To understand the mechanism of P incorporation in goethite, high-P grains were located by coarse mapping of polished blocks with the FEG-EPMA. Analysis of element distribution maps collected on the P-rich grains showed that low-P regions within grains were typically associated with low-Al and high-Si, whereas high-P regions were associated with high-Al and low-Si. Based on follow-up quantitative analyses, a coupled substitution mechanism for phosphorus incorporation within goethite was proposed: 2Si4+ = 1P5+ + 1Al3+. Additional quantitative analyses on further examples indicated the mechanism was only valid for Si contents in goethite of <1 wt per cent.Preliminary transmission electron microscope (TEM) studies confirmed the presence of P, Al and Si in goethite.

Jul 11, 2011

By Clifford C. E

The Black Star and Racecourse orebodies below 15 level contain a major portion of the primary silver-lead-zinc ore reserves of 56 million tonnes at 150 g/t Ag, 6.4% Pb and 6.5% Zn at Isa Mine. Extraction from this area is scheduled to begin in the early 1980's. Mining in this block will be quite com- plicated as the ore is contained in a dozen separate orebodies varying in width from 3 m to 20 m with only narrow barren pillars between them in some cases. Mining objectives which consider metal recovery, costs, environmental and safety factors, operating requirements and rock mechanics are used to compare proposals. The planning work involved in formulating mining proposals considers disposition of reserves, scheduling factors, sequence of extraction, extraction methods, haulage set-up and ventilation requirements.

Jan 1, 1979

By J Zhou

Gold in sulfide ores is associated predominantly with sulfide minerals and occurs as both microscopic and submicroscopic particles. In non-refractory sulfide ores, gold occurs mainly as coarse- and medium-grained particles. Minute inclusions and submicroscopic gold usually account for a minor portion. In contrast, gold in refractory sulfide ores occurs mainly as minute particles and submicroscopic gold, and microscopic gold usually accounts for an insignificant portion. In gold ores containing carbonaceous material, the preg-robbing nature of carbonaceous material may impose challenges on gold extraction and cause gold losses. To extract gold from refractory sulfide ores, the ore needs to be finely ground and preoxidation is often required. Sulfide host minerals must first be oxidised to create a porous structure through which the cyanide leach solution can penetrate to reach the colloidal gold particles. The oxidation is traditionally achieved by roasting, autoclaving or bacterial oxidation. In carbonaceous sulfide ores exhibiting a preg-robbing nature, the carbonaceous material needs to be treated by roasting, autoclaving or other means to minimise the preg-robbing effect. As a predictive and troubleshooting tool, the gold deportment study plays an important role in gold metallurgy. It determines the deportment of gold in an ore or mill product and identifies the mineralogical issues that may affect or may have affected gold extraction. The information acquired from a gold deportment study can be used to assist in process selection, flow sheet development, recovery improvement and reagent optimisation.CITATION:Zhou, J, 2013. Deportment of gold in sulfide ores and implications for gold extraction, in Proceedings World Gold 2013 , pp 433-442 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Sep 26, 2013

By T J. Napier-Munn

This paper proceeds from the premise that process improvement is a key part of the mineral engineer’s role, and one in which he/she can make a significant contribution to shareholder value. It presents four tools to help with process improvement projects. Two are designed for process monitoring, to determine as soon as possible whether there has been a true change in performance: the cumulative sum (cusum) control chart plot with V-mask, and the control chart using a process model. The other two are used for process optimisation: simplex self-directing evolutionary operation (SSDEVOP), and a response surface model developed using a central composite rotatable experimental design (CCRD). These methods are robust, have a rigorous theoretical basis and are easy to implement. They also promote project continuity which increases the chances of success, particularly in fly-in/fly-out (FIFO) operations. Variants are used in other industries, but they are rarely if ever applied in mineral processing to-day for reasons which are unclear. The paper gives examples of the application of each method in concentrators which demonstrate that they have the potential to be useful additions to the mineral engineer’s professional toolbox.CITATION:Napier-Munn, T J, 2014. Cunning solutions to process improvement, in Proceedings 12th AusIMM Mill Operators’ Conference 2014, pp 5–10 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Sep 1, 2014

Rather like the mythical "Economic Man" "an employer" in this context must necessarily be an abstraction, and the views possessed by such an abstraction, a composite of many views known to have been expressed. Not even the complex Conciliation and Arbitration legislation in this country provides any helpful specifications, except in one peculiar particular. The Australian Conciliation and Arbitration Act provides an almost totally tautological definition, except in that one oddity referred to above. It is this : "An employer means any employer in any industry, and includes any person who is usually an employer in an industry, and also includes a Club." No doubt there is some perfectly justifiable reason for such specific and unique particularity in an otherwise meaning- less definition. That need not trouble us in this exercise.

Jan 1, 1982

By A K. Ghosh, J Chung, E Topal, M Asad

"Many open pit (OP) mines with considerable vertical extent are approaching the end of their life-of-mine; some of them are seeking the opportunity to make the transition from OP to underground (UG) mining. The decision on the best location for transition from OP to UG mining should be addressed at the strategic mine planning stage. Conservatively, the transition to UG mining is considered near or after the exhaustion of the reserve within the ultimate pit.However, if UG is evident and exclusively viable from the inception, defining the best location for the transition through a conservative approach may not be an optimal option to explore. This clearly establishes the need for a mathematical model that aims to maximise the project value and considers OP and UG mining with crown pillar (CP) requirement simultaneously. Underground mine layout varies from one UG mining method to the other, and consequently the variation in the location of transition is eminent. Thus, focus on the selection of UG mining method must be a part of this analysisThis paper presents an implementation of an integer programming (IP) based mathematical model that evaluates the changes in mining layout and the project value under possible variation in the transition point from OP to UG mining for stoping and block caving methods. An IP problem is a mathematical optimisation or feasibility method in which some or all of the variables are restricted to be integers. The outcome of the implementation reflects that mining strategies with OP transition to stoping and block caving methods generated higher values than OP-only mining strategy. The case study not only demonstrates the difference in mining layout for both stoping method and block caving method, but also reflects that a joint consideration of OP mining, UG mining and CP placement helps to achieve maximum project value and resource utilisation.Citation:Darbritz, J, 2016. Remediation of Wall Failure at Kalgoorlie Consolidated Gold Mines' Golden Pike Cut-back 2016, in Proceedings Ninth AusIMM Open Pit Operators' Conference 2016, pp 96–103 (The Australasian Institute of Mining and Metallurgy: Melbourne)."

Nov 15, 2016

By J Kwiri, T Zvarivadza, R Mitra, F Cawood

It is crucial to record ground movement of any magnitude to enable the safe and economical design of excavations and infrastructure. The DigiMine Laboratory is equipped with technologies to record such movements. This paper analyses the effectiveness of the Digital Mine instrumentation in recording earth movements in light of the Botswanan earthquake which occurred on the 3rd of April 2017 at 17:40 UTC. Recordings from the Digital Mine are compared with other ground sensing technologies which also captured the event (USGS and GEOFON systems). USGS and GEOFON system’s recordings suggest that, there are a number of possible mechanisms that could have resulted in the earthquake as discussed in the paper. Compared to the USGS and GEOFON systems, DigiMine system could not provide an analysis that could give possible source mechanisms. However, the system’s success in recording the Botswanan earthquake, is an indication that the system works and can be further developed or improved. For a comprehensive analysis, more data from various sensors needs to be collected. For example, DigiMine connecting to the national seismic monitoring system or to the local mine’s seismic monitoring system. Such connections will enable the development of a better self-analysis system and possibly prediction of future events. More importantly, it will contribute to better understanding of regional seismicity and its potential impact on excavation design. CITATION:Kwiri, J, Zvarivadza, T, Cawood, F and Mitra, R, 2018. How efficient is DigiMine technology in recording earth movements? A look at the Botswanan earthquake, in Proceedings The Fourth Australasian Ground Control in Mining Conference (AusRock), pp 414–419 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Nov 30, 2018

Reconciliation involves the collection of tonnage, grade (quality) and contained metal (product) data from disparate and hopefully independent sources. Examples are exploration data, production sampling data from blastholes or drawpoints, and process plant data. These data may be compared by means of ratios (factors). The F1 factor usually relates short-term (ore control) model tonnages, grades and metal content to ore reserves depleted. The F2 factor usually relates received-at-mill tonnages, grades and metal content to delivered-to-mill = production tonnages, grade and metal content. The F3 factor is F1 × F2 and enables a comparison of a mineÆs ability to recover the tonnage, grade and metal content estimated in ore reserves. The F1 factor measures the accuracy of orebody knowledge in the ore reserves to the demarcation of ore and waste by ore control (short-term model). The F1 factor may be used to check and calibrate the selectivity of mineral resource models and/or planned dilution assumed in transfer from mineral resources to ore reserves. The F2 factor enables a check on unplanned dilution entering the ore stream between ore control and the mill. Using the factors it is possible to calculate a monetary value on improvements in the accuracy of orebody knowledge, selectivity and the effects of dilution and ore loss. Reconciliation should be an implicit part of the mining process, and reconciliation targets should be a key performance indicator for well-run mines.

Sep 26, 2011

THIS paper is not intended to be a detailed description of the lead, smelting plant at Cockle Creek, as this has been covered in previous papers for the Institute in 1918, Proceedings No. 31, by other members of the staff; but the idea is to give some of the practices and conditions peculiar to these works, also to give some experiments carried out and the conclusions arrived at. Unfortunately, owing to the closing down of the smelting and refinery plant at these works, sone of the experiments could not be carried to a more definite and commercial basis, but they are given in the hope that they may be of interest to members, and may perhaps suggest further thought along the lines indicated.ROASTING AND SINTERINGThe greater part of the ore treated at these works came from the Central mine, Broken Hill, but, in addition, a large quantity was purchased from other parts of New South Wales and from Tasmania. This purchased ore was seldom received in the form of a concentrate, but initially in its crude state, and therefore had to be crushed. The crushing was done in a Krupp mill, and the ore then added to the roasting mixture. This addition of crude ore was one of the main...

Jan 1, 1923

Folklore suggests that oxidation is detrimental to sulfide mineral flotation, and in many instances is the reason given for values reporting in the tailing. However, while a considerable body of work examining galena oxidation is available in the literature there are very few studies that investigate the consequences of galena oxidation on its subsequent flotation in base metal sulfide ores. This work clearly demonstrates that pyrite forms a galvanic couple with galena, due to the large difference in their rest potentials, and results in accelerated oxidation of galena, particularly as the pyrite content of the ore is increased. The most obvious effect of the galvanic oxidation of galena by pyrite is the release into the system of galena oxidation products, providing an ample supply of lead ions available to activate gangue minerals, most notably of which in lead/zinc ores is sphalerite. The inadvertent activation of sphalerite by lead ions inevitably leads to the recovery of liberated sphalerite into the lead concentrate, and as a consequence a reduction in the lead concentrate grade. That is, a loss of selectivity for galena against sphalerite. If galena oxidation is excessive not only is there a considerable loss in lead concentrate grade, but also a marked decreased in lead recovery as the flotation rates of the gangue minerals increase, until they rival that of galena.

Jan 1, 2005

By S P. Young, K R. Monro

Reducing metal prices have forced mining operations to become more efficient and innovate in order to do more with the existing base. Much of this effort has focused on improving the efficiency of load and haul operations. The key to this is to understand and quantify where delays and missed opportunities exist. Metrics such as utilisation of availability, efficiency utilisation and asset availability are helpful indicators of performance; however, uptime-based time usage models and performance analysis tools using productive operating time models help to identify additional improvement opportunities.Phu Kham is a copper-gold mine operated in the Lao People’s Democratic Republic (Laos) since 2008 by PanAust Limited. The mine is a single large open pit of 450 m depth, running a fleet of 51 100 t class rigid dump trucks and 300 t and 200 t shovels controlled with the aid of a fleet management system in order to achieve ex-pit material movements of 56 Mt/a.Commencing in late 2014, a range of initiatives were implemented in order to improve the efficiency of the mine haulage fleet. These include hot seating of all operator changeouts via changeout ramps, split shifting of crews to minimise queuing delays, maximising blast volumes and minimising blast event days to reduce blast exclusion delay events including opportune refuelling of equipment during blasting events, inspections of trucks during refuelling events, implementation of a dedicated haul road services team to help reduce wet weather related delays and infrastructure development for haul path efficiency improvements.These and other initiatives have allowed the mine haulage fleet utilisation of availability (UofA) to be sustainably increased from 85 per cent to 97 per cent (see Figure 1), efficiency utilisation to increase from 85 per cent to 90 per cent, and productive operating time (POT) to increase from 73 per cent to 84 per cent. The corresponding increases in efficiency of the haulage fleet has allowed an equivalent reduction of eight haul trucks from the fleet to meet continuing life-of-mine production requirements.CITATION:Monro, K R and Young, S P, 2016. Truck haulage improvements at the Phu Kham mine – the journey to 97 per cent utilisation of availability, in Proceedings International Mine Management Conference, pp 339-346 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Jun 22, 2016

By S O’Connell, M Scholz, A Robertson, M L. Bloss

The value created in any mining operation is a function of the mine plan. The quality of this plan is dependent on the strategies employed during definition drilling, resource estimation and mine planning. This paper presents opportunities to improve the value of an operation through better strategic management of these core activities. Case studies undertaken recently at Olympic Dam are presented to support the conclusions presented in the paper.CITATION:Bloss, M L, O’Connell, S, Robertson, A and Scholz, M, 2016. Do we maximise the value of our operations through our definition drilling, resource estimation and mine planning strategies? In Proceedings International Mine Management Conference, pp 9-20 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Jun 22, 2016

By M Boon, M Franklin

This paper outlines the journey of cultural maturation and management system development at the Mt Rawdon (MRO) gold mine from its acquisition by Evolution Mining Limited (Evolution) in late 2011 to 2016.Evolution embarked upon a series of projects that aimed to improve the operational consistency and implementation of change on-site, while leveraging off the existing strengths of the operation. This document describes the gaps that were identified, the processes used to close them, and the resulting cultural change and production outcomes, with a specific focus on how to optimise the culture at any mining operation.MRO had a history of four owners in less than three years when it became a key asset of Evolution. The site leadership team (SLT) decided to influence the culture at MRO by reviewing and upgrading the existing management processes.The first priority was to improve transparency and collaboration at the SLT level, followed by improving competency in project management. The next phase was to strengthen the internal communication using a deliberately designed network of meetings, communication screens and other initiatives. Once there was some traction, the focus moved toward increasing production volume and decreasing cost per unit by improving short-term planning and execution capability. Together with other initiatives, this resulted in improved collaboration between all functions, which in turn netted over 37 per cent mining production uplift.Following solid success, a process of prioritisation and alignment management was implemented. This supported the ‘Mine to Mill one operation’ ideal and allowed the SLT to decide month-by-month what actions were to be prioritised. These priorities incorporated production realities and longer term imperatives of the balanced business plan.Much of this work was completed during a period of declining gold prices and a relentlessly strong Australian dollar, making it difficult to justify spending money on improvement projects. This work proved critical for the operation’s long-term survival.CITATION:Boon, M and Franklin, M, 2016. Improving consistency of delivery at Mt Rawdon Operation, in Proceedings International Mine Management Conference, pp 305-320 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Jun 22, 2016

The Managalase area is remote and little visited by geologists or prospectors. Yet it holds the key to the tectonics and petrology of this part of Papua. The eastern Managalase plateau (M, Figure 1) lies between the Hydrographers andesite volcano (H) and Sesara shoshonite volcano (S) to the south of Popondetta on the Papua Peninsular. It contains over 30 small volcanic centres in an area of only 400 km2 . To the south and west lies the basic-utrabasic belt (B-UB) of the Morobe arc. This is the leading edge of oceanic plate obducted over the Owen Stanley Metamorphics during the lower Eocene time. To the east and southeast lies the Cape Vogel geosyncline where the western end of the Woodlark basin spreading centre enters mainland Papua. The extension of the spreading centre as a suture might pass as far as the southern margin of the Musa Coastal plain. A new pattern of plate tectonic motions has been determined by the global positioning system and the southern margin of the Woodlark plate has been redefined (Tregoning et al, 1998; Taylor, Goodliffe and Martinez, et al, 1999). The Managalase plateau is margined by two inferred faults. These outline a cusp protruding from the main basic-ultrabasic belt where these rocks are near the surface. The westerly arm of the cusp passes through the centres of the Hydrographers and Mount Lamington andesitic volcanoes. Mount Lamington overlies Quaternary alluvium and underlying Tertiary sediments (Arculus et al, 1983) but members of the basic-ultrabasic belt crop out on the southern flanks. The easterly arm of the cusp is an inferred shear zone (and ? fault) connecting up with the terminus of the suture on the Musa coastal plain. Movements on the two faults forming the cusp are thought to have produced the conjugate N-S, E-W faults on the plateau (Ruxton, 1966). To the east, and isolated, are the two large andesitic stratovolcanoes of Mounts Victory (V) and Trafalgar (T) which together form Cape Nelson. Mount Victory was last active in the 1890s. The Waiowa shoshonitic volcano explosion centres (W), last active in 1943 - 1944, lie near the suture adjacent to the actively rising Goropu mountains. Extension in these mountains is clearly demonstrated by the soil profiles being skeletal along a bounding fault and ageing uphill. The incision of small parallel ravines also dig deeper further upslope from the fault. To the south-east of Mount Suckling (K) the Dayman Dome is also an expanding mass. The Owen Stanley fault is parallel, and located to the south of the suture. The Mesozoic metamorphics form the backbone of the Papuan Peninsula. The intramontane Musa Trough is thought to date from the mid-Tertiary. At the eastern end of the trough Pleistocene and Recent ultrabasic breccias and alkali basalt crop out (Green, 1961).

Jan 1, 1999

By T Y. Dube

In this paper current net present value (NPV) based mine valuation techniques that take into account market and private risk are discussed and analysed. Potential pitfalls that arise from the application of a portfolio, market or commodity based risk metric to a mining project are identified. An alternative non-simulative framework for quantifying and factoring market and private risk in NPV calculations is proposed and then applied to a hypothetical case study in an attempt to overcome identified pitfalls. Mathematical proof that a static discounted cash flow (DCF) calculation can underestimate or overestimate mine NPV is presented, the conditions for each are outlined and the degree of underestimation defined.CITATION:Dube, T Y, 2012. How the use of market-based risk metrics can undervalue good mining projects and overvalue poor ones, in Proceedings Project Evaluation 2012 , pp 29-34 (The Australasian Institute of Mining and Metallurgy: Melbourne).

May 24, 2012