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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

There is a link between the requirements of society and the determination of curricula in tertiary educational institutions. Mineral resources exploration provides a strong example of this link. The resources exploration business engages in scientific, engineering, commercial and management activities in an endeavour to discover economically extractable commodities. Most geoscience and geotechnical graduates are employed by the mineral industry for resource exploration and development. This industry comprises a wide range of employer groups which include the Bureau of Mineral Resources, CSIRO, energy authorities, State geological surveys, State water commissions and private companies. Such employers are variously charged with the task of understanding and utilising earth resources to the benefit of society. It follows therefore, that undergraduate education and post-graduate specialization should be directed towards meeting the needs of employer groups in the geoscientific and geotechnical fields. In the past the training of most Australian geologists has emphasised classical science. This type of training remains of primary importance in the early undergraduate years but there is a need for modern educators to recognise the increased desirability for the inclusion of geotechnical subjects in the curriculum. Modern geo-education should address four main sectors when deciding curricula:

Jan 1, 1986

In south-eastern King Island, sediments and lavas of possible Upper Proterozoic to Lower Cambrian age have been intruded by Lower Carboniferous granitic rocks.Within the contact aureole of the Bold Head adamellite north of Grassy the sediments and lavas have been metamorphosed to hornblende hornfels facies grade. The thermal gradient within the contact aureole was small, as the hornfelses exhibit no mineral zoning over a distance of 700 ft from the adamellite.Skarns occur both within the adamellite near its contact with the country rocks, and within the country rocks as partial replacements of three dolomitic limestone horizons. The latter type, the exoskarns, commonly have an andradite-salite mineralogy and carry economic concentrations of scheelite. These resulted from the replacement of carbonate beds due to both diffusion and infiltration metasomatism. Silica, tungsten, minor sulphides, and water were introduced from the adamellite, while aluminium and iron diffused from the enclosing pelitic sediments. Calcium released during marble replacement countered the loss of iron and aluminium in the pelitic hornfelses transforming them to diopside-rich rocks.Endoskarns within the adamellite are the result of two way diffusion across the contact; calcium, aluminium, and iron diffused from sediment to adamellite as silica, potassium, sodium, and water diffused from adamellite to the sediments. From estimates of the lithostatic pressure and mole fraction of CO2, the mineral assemblages of the hornfelses imply that the temperature of metamorphism lay between 530° and 710°C. This temperature range is in good agreement with minimum temperatures, between 610° and 710°C, for the recrystallization of the marbles of the contact aureole, calculated from the determinations of the solid solution of the magnesite molecule in calcite.

Jan 1, 1971

By J Herbertson

æZero waste steel making productionÆ has already been the subject of several studies and also the successful result of some companies. Regarding waste and by-products, slags are the largest in terms of weight, although among the least hazardous. All steelmakers around the world are presently looking into profitable solutions, according to their local conditions: environment constraints, available markets, and mode of operation. Today the major technical methods of slag value capture include different levels of magnetic separation and screening to remove entrained steel, for production of aggregate in civil works. A survey of different retrieval processes shows that pyrometallurgical processing of steelmaking slags will increase the recovery ratio of iron and other metals. In the process, the remaining part of the material, a mixture of metallic oxides, can be easily transformed into hydraulic binder such as cement. Can steelmakers consider the slag as a co-product, and not only a waste or by-product? The ability of pyrometallurgical processes to treat other wastes and by-products generated in the steelplant is an opportunity for the steelmakers to reach the æzero waste productionÆ status. A technical survey of the experiences and possible solutions of pyrometallurgical processing is presented as well as technical descriptions of technological, economical and profitability analysis in relation with foreseeable markets.

Jan 1, 2002

Production scheduling is an important element of the mine planning process. The production schedule specifies the quantities of mineral to extract, the source of this ore, the timing of extraction and, where necessary, the quantity and timing of backfill placement. These details are important in linking long-term strategic goals to short-term operational planning. Mine scheduling techniques form the basis for communicating information concerning the overall impact of design and planning changes to a wide range of people at many levels within an organisation. Consequently the techniques used for mine scheduling must support the decision-making process by consistently providing high quality schedules in response to revised and updated data. A new mixed integer programming (MIP) model has been developed to generate optimal production schedules for underground stoping operations. The model maximised the before-tax Net Present Value of the production schedule while satisfying constraints such as contained metal tonnage, hoisting capacity, stope geometry relationships and stope backfilling demands. Zero-one variables were used to represent the decision to extract or backfill each stope in a particular time period. Continuous variables, capable of having non-integer values, were used to denote the quantity of ore or backfill associated with a specific stope in a given time period. A case study is presented to demonstrate the significant improvement in before-tax NPV over a comparative manual production schedule in a large underground mine. The MIP model allows for further modification to reduce solution times and meet the needs of individual mines.

Jan 1, 1995

The use of pipeline-c to carry crude'oil and petroleum pro-ducts is a reliable and economic*Way to transport large quantities of oil. The length and size of these pipelines have continued to grow throughout the world as the demand for petroleum has in-creased and as the price of other transportation-methods has risen. At the present time pipelines 'can move a barrel of oil a distance of 100 miles at an average cost of ,80.06 U.S. dollars.The major elements in pipeline design are discussed. Methods of calculating pressure drop and horsepower requirements are pre-sented. These are variations of standard equations.in which the elements of each equation are expressed in terms common to the petroleum industry. Major equipment is discussed., particularlyas it relates to operation and economics.Cost data are presented to aid in preliminary economic ana-lysis. Curves illustrate the cost of oil transportation at flow rates between 10,000 and 500,000 barrels per day and permit the selection of pipe diameter-which will result in minimum operating costs.

Jan 1, 1962

By J, J M. Young, P T. Nielsen, R Zhu

Improved understanding of the variables that influence hydrocyclone performance is of increasing interest to the iron ore industry, where hydorcyclones are widely used to deslime fine ore. In many cases, the impact of particular variables is not quantified sufficiently well experimentally to ensure that industrial performance will match expectations. The current work focused on developing and implementing a systematic methodology to evaluate and compare the performance of four different hydrocyclones in a desliming application. A critical component of the project was the design and construction of a pilot-scale hydrocyclone rig using state of the art monitoring and sampling methods. A wide ranging test programme was conducted to quantify the effect on metallurgical performance of the key hydrocyclone variables such as pressure, feed density, vortex finder size, spigot size and hydrocyclone make/overall design. Details of the experimental approach are presented, along with a discussion of the sizing analysis methods used. Performance criteria were established to assess the four hydrocyclones. The effects of each major variable were quantified over a wide range of conditions. The results show that clear performance differentiation was achieved, enabling the selection of the optimum configuration. The results from this work demonstrate the benefit of objectively assessing the performance of nominally equivalent units in selecting an optimum configuration that best satisfies the performance criteria.

Jan 1, 2002

By B McIntosh

Sustainability in its simplest assessment has been defined as æmeeting the needs of the present without jeopardising the needs of future generationsÆ. For the mining industry alone, this statement could indeed be interpreted by the many cynics in our community as an oxymoron; as miningÆs very existence requires the extraction and consumption of finite resources. However for the future of industry as a whole, the integration of mining, minerals processing and manufacturing presents us with a unique opportunity to achieve sustainability through the continued supply of metals and materials for society, in a manner which can achieve positive social outcomes through a triple bottom line approach.The Kwinana Industrial Area has been Western AustraliaÆs premier heavy industrial precinct for more than 40 years and its prevailing level of prosperity will ensure it remains a significant contributor to the State economy through the 21st century.The Kwinana industries depend on each other for the production of essential raw materials vital to their manufacturing and refining process, an innovation that also has significant environmental benefits.Formed in 1991, the Kwinana Industries Council strives to foster positive interaction between member companies and with the local community.The aims are:to co-ordinate the activities of Kwinana industries on a range of common issues; provide effective liaison with the local community; promote a positive image of Kwinana industries; highlight contributions to the community by Kwinana industries; and work towards the long-term viability of the Kwinana Industrial Area. The Kwinana Industries Council facilities these aims by focusing on developing and employing leading edge technology, giving workplace health, safety and environment top priority, and taking a committed, responsible and pro-active approach to environmental protection, whilst forging a two-way partnership with the local community.The sustainability of industry is the key objective for the Kwinana Industries Council and through the involvement of the 13 member companies industry strives to:achieve efficient processing of resources to provide a range of goods and services needed by the community; achieve acceptable and decreasing level of environmental impact; provide jobs and income for our community; and engage co-operative projects that benefit the local communities, the State and Australia.

Jan 1, 2004

A statistical investigation of folding at Mount Isa disclosed similar patterns in both the shales and the "silica dolomite" zones. Analysis of these patterns yields 3 groups of folds fully developed north plunging folds, fully developed south plunging folds, and flexuresrepresenting stages of development of folds. Interpretation of results indicates that a regional force from a southerly direction was responsible for the folding.The general pattern of shearing is allied to that of folding, with the exception of bedding-plane shearing. Many shears resulted from continued application of force on folds which ruptured after overthrusting. Other shears resulted from rupture of the more incompetent shale members, without associated folding. The shear pattern is consistent with the theory of a regional force from a southerly direction.INTRODUCTIONThe notes on folding and shearing presented in this paper are part of a current study of the structural geology of Mount Isa.FOLDING 1Measurement of FoldsInvestigation of folding underground involved the measurement of plunge, strike and dip of the axial plane, and the order of magnitude of each fold, together with its location and the rock type. The total number of folds measured was 701, of which 411 occurred in shale areas and 290 within the "silica dolomite" zones. All folds measured are located on main levels, from 7 level to 13 level inclusive. The sections of the mine involved are the Black Star, Black Rock and Racecourse. Detailed investigation of folds on the upper levels (4, 5 and 6) has not yet been done, but observations there suggest...

Jan 1, 1961

Drilling has disclosed a sequence of Cainozoic sediments immediately to the west of the Ediacara mineral field containing little or no dolomitic debris in the lower and middle sections, but with gravel beds of dolomite derived from local rocks in the upper part. It is suggested that the lower and middle sequence of Cainozoic strata was deposited over the area of the Ediacara Range, and that this range was uplifted, probably as a horst block, during Quaternary times and was first exposed to subaerial erosion during the upper Pleistocene epoch.Lower Cambrian dolomites with associated stratiform lead mineralization, which formed the target of drilling on the western downthrown block of the Ediacara Fault, were eroded before deposition of Cainozoic sediments.Intense leaching of basal Cambrian dolomites around the periphery of the Ediacara Basin took place during Mesozoic and Tertiary times. This leaching process has resulted in enrichment of copper and lead mineralization in a thick marginal zone of residual clayey material overlain by dolomitic collapse breccia. These zones of leaching and enrichment were preserved under Cainozoic sediments which have subsequently been eroded. The Ediacara Fault appears to have been a major conduit for mineralizing fluids and is the main lineament of the Torrens Hinge Zone. Contemporaneous movements on this fault have controlled rates of depositionand thickness of sediments across the fault during Adelaidean and Cainozoic times. Though latest movements of this fault have been west block down, the predominant movement has been east block down with associated thickening of sediments to the east in the Adelaide Geosync1ine.

Jan 1, 1972

As a basis for my address to you tonight I thought it might be opportune if we considered the great history of the mineral industry in Australia, and the contribution it has made to the development of the country. While it is perhaps interesting to review the achievements of the past there is also the opportunity to examine the developments of the future.The names generally given to the three periods of man's life on the earth-the Stone, the Bronze, and the Iron Ageand to which should perhaps now be added the Atomic Age, imply the vast importance of the progressive steps in 'man's discovery of minerals and the means of working them. They tell the story of his advance from the flint knife to the bronze celt, and then to the keen-edged iron weapon, and now to the possibilities of the peaceful application of atomic energy. Not only have the stories of gold, iron, copper and tin told a great deal of the history of the progress of mankind, but they have also traced the commercial and industrial growth of Australia over the last century.Gold in the 1850's was responsible for the most significant period of immigration Australia has ever had-when the population almost tripled in the ten years to 1860. Minerals were also responsible for opening up Australia and determining the pattern of settlement. As mineral finds were made, railways were constructed to these fields, then agricultural development followed.Then, as the industrial era started, minerals provided the raw material for Australia's rapid industrial expansion, and they have all contributed to the extent that they have made...

Jan 1, 1960

The five main ways in which coal is used are1. for electricity generation,2. as a lump fuel for domestic and industrial purposes,3. for gas making,4. for making carbon for chemical and metallurgicalindustry, and5. as a source of coal tar and coal-tar chemicals.In the past about 80 per cent of Victoria's brown coal has been used for power generation and the rest for making a lump fuel, in the form of briquettes. Some of these briquettes have been used for gas making, and a carbon industry based on them has recently been commenced, and could expand rapidly. However the enormous increases expected in power requirements, approximately a doubling every 10 years, will ensure that even if the manufacture of carbon increases dramatically and a large amount of coal is used for other purposes, the brown coal industry will always be dominated by power generation. As new fuels such as natural gas, oil, and nuclear fuel become available at competitive prices these will take their share of the power generation load.Natural gas or oil, or possibly pumped storage hydro, will almost certainly be used for all future peak-load stations, comprising around 40 per cent of the total installed generating capacity, but new base load stations will continue to be designed for brown coal operation until about the mid-1980s, by which time nuclear power stations will become competitive. By this time Victoria will have installed about 6000 MW capacity of brown coal stations, burning around 50 million tons/year of coal, compared with 18 million tons/year at present, with perhaps 15 million tons/year being used for other purposes.This consumption of 65 million tons/year should then remain fairly stable over the life of the power stations installed, well into the 21st century. Brown coal therefore appears to have an assured place in providinga major part of Victoria's fuel requirements, despite the diversification in fuel usage pattern which appears certain to occur with the recent developments in new fuel resources.

Jan 1, 1971

One of the great attractions of academic life, for those who enjoy the opportunities of university teaching, is the continual contact with some of the most able young minds which each rising generation produces. So when I was asked to give a paper at t

Jan 1, 1994

Zinc enters into solution on aeration of sphalerite in deionised water. It has been observed that less zinc dissolves in a copper vessel than when the same operation is carried out in a glass vessel of similar shape and size.

Jan 1, 1980

By A Struminski

The principles of occupational risk evaluation resulting from the improper ventilation of the underground mines were presented. It was shown that the risk level implies the appropriate planning and usage of prevention methods. That approach is fundamental in the ventilation, fire and climate safety management in the copper ore mines. The paper uses the adequately modified Risk Score method.

Jan 1, 2003

Despite improving technology, better training and the use of modern monitoring and communication systems there is a disproportionate rate of diameter occurrences in the mining industry. The use of appropriate plans and a practical approach and managing risk can reduce the number of occurrences and ensure better control of emerging situations when they do Occur.

Jan 1, 1998

Concrete has been used for many years in block caving, principally for drift and drawpoint linings. This paper describes the requirements for concrete in this application, the required properties, the mix design, and transportation and placement systems. In addition a concrete mix design rationale is also proposed.

Jan 1, 2000

Thank you for the invitation to this forum today. I have a hectic schedule in the Mabo legislation process but it is important not to lose sight of the bigger picture and to attend today to talk to you about the Government's role in the development of our country.More importantly, I hope over the next couple of hours to get some feedback on developments in this area from people very much involved on a day to day basis.

Jan 1, 1993

Stope control information at the C.S.A. mine is obtained by diamond drilling inclined holes from within the stapes. Practical mining outlines are determined from complicated ore contours by a joint mining engineering and geological study. Production holes to achieve this outline are individually marked up and checked. Stope control also extends to selective mucking of ore mixtures for metallurgical reasons and to marginal ore and waste mixtures for economic reasons.

Jan 1, 1969

Papua New Guinea is geologically prospective for large, medium and small mineral discoveries. All profitable developments to date have been very large mines but for every large mine there should be many small mines which could be developed under appropriate circumstances.The Papua New Guinea Government should, with appropriate changes to fiscal, legislative and policy regimes, create a favourable exploration envir-onment to encourage a major increase in exploration by small exploration companies and subsequent discoveries and mine development.

Jan 1, 1994