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By M. Rudolph, R. Tolosana-Delgado, E. Schach, M. Buchmanna, G. van den Boogaart, U. Peuker

The multidimensional characterisation of processes based on various particle properties is a key requirement for a detailed prediction on certain process streams. To access the relevant particle properties (e.g. particle size, particle density and mineral content) automated mineralogy (i.e. Mineral Liberation Analyser) is applied. The kernel density estimation is used to transfer the received discrete particle data into continuous distributions without the necessity of binning the information and the related loss of information. From these continuous distributions, multidimensional separation curves are estimated. The uncertainty of these representations is tracked via bootstrap resampling. For the evaluation of the separation efficiency of the multidimensional separation curves, the statistical entropy is calculated. The statistical entropy represents a local (for each property combination) as well as a global (for the investigated property range) measure of separation efficiency and can be weighted with various property distributions (e.g. mass or mineral mass distribution) to allow for a comparison of different parameter settings and processes. With the help of a case study of a dry magnetic separation of a cassiterite bearing skarn ore from the Erzgebirge (Germany), the methodology is presented and the results are discussed in detail. Keywords: Multidimensional, magnetic separation, kernel density estimation, mineral liberation, statistical entropy

Jan 1, 2020

Careful monitoring of the position of the cave front is essential for well-managed block cave mining. Seismic monitoring systems yield 3-D information about the location of fracturing ahead of the cave. However, because the a seismic gap between cave surface and seismogenic zone is of unknown extent, the cluster of micro-seismicity can only yield an upper bound for the cave height. The large velocity contrast between the fractured rock in the aseismic gap and the broken loose material within the cave can be used by an inversion procedure to find a few simple geometric parameters (such as height of the top of the cave) if a simple 3-D shape?for example a paraboloid?is assumed for the cave. Ray-tracing must be used as the large velocity contrasts cause seismic waves to bend around the cave, but the inversion takes the form of a minimization problem in only a few dimensions and so the computational time is feasible. This technique has been successfully tested on realistic synthetic data.

Jan 1, 2007

By D. F. Malan

This paper describes the development and implementation of amine-wide continuous stability monitoring system at the Declines Section, Anglo Platinum Union JV. The Declines Section at Union JV experienced a number of large panel collapses during 2005 and 2006. As well as posing a major safety risk, the panel collapses had a major effect on production since the Declines Section is a semi-mechanized operation. The collapses would often extend into the mechanized strike roadways, resulting in a loss of access to both current and future production faces. The collapses have been largely overcome owing to a change in support design and the implementation of a mine-wide stability monitoring programme. This paper describes the precursors to collapses, which were identified using continuous closure measurements and the remedial measures taken. It also outlines the design and introduction of a robust and reliable monitoring tool, which is now used on a mine-wide basis to provide early warning of large-scale collapses.

Jan 1, 2010

By P. Mühlen, C. Nelson

Process control optimisation depends a lot on the availability of timely data from production to give operators a chance to make adjustments before potential process upsets or disruptions happen. A lot of data is already available with newer and updated machine technologies, but what about the process upsets coming from the raw materials that we use? They are natural products and therefore they are not of a stable composition or mineralogy. The production process depends on a certain chemical or mineralogical stability of the raw materials when they come to a roaster, kiln or sintering stage. Only then can the proposed reactions take place and the equipment be operated at stable temperatures. Laboratory analytical technologies have the limitation that they depend on representative samples and have a long time delay. Therefore online (real time) analysers are used nowadays in mining applications to obtain an early indication of the actual mined or to-be-processed ore. Most available technologies can only analyse inorganic content on an oxide or elemental level. Near infrared (NIR)- based online analysers can overcome that limitation and give a real time analysis of organic as well as inorganic composition, if required on a mineral level. The paper will present two case studies where the NIR online technology was successfully adapted.: a) Optimising refractory gold ore processing at the Goldstrike roaster operation b) Optimising the sinter process at a Japanese manufacturer. Keywords: Analyser, NIR, online, realtime, gold, roaster, iron ore, sinter, mineral phase analysis

Jan 1, 2020

By T. Mahlangu Mahlangu, T. Fungene, K. C. Sole

"Although oxygen is widely employed as the oxidant of choice in gold leaching by cyanide, its low aqueous solubility presents some drawbacks in practical application; hydrogen peroxide has therefore been considered as a possible alternative. The aim of this investigation was to study the catalytic decomposition of hydrogen peroxide, which generates an oxidizing intermediate species, and to understand its effect on cyanide destruction. Operating conditions that facilitated the effective decomposition of hydrogen peroxide were established by varying the pH and catalyst type and concentration. The oxidizing intermediate, detected using an indirect technique, was found to be the hydroxyl radical (OH?). OH? is commonly generated in acidic solutions, but this work demonstrated that it is also produced at the alkaline pH values necessary for cyanide gold leaching. The effects of free and complexed iron and copper catalysts on the oxidation and consumption of hydrogen peroxide and cyanide were also investigated. It was shown that the cyano complexes of Fe(II) and Cu(I) are also effective as decomposition catalysts. Hydrogen peroxide concentrations above 0.01 M decreased the free cyanide concentration, which was attributed to the probable formation of the cyanate anion (CNO-). Although cyanide consumption increased due to its oxidation in the presence of OH?, excessive cyanide consumption in the presence of copper was attributed primarily to its complexation by the unstable copper(I) cyanide species. Rate constants for the decompositions of H2O2 and cyanide by ferrocyanide and copper cyanide were calculated; the latter was identified as being a better catalyst. IntroductionLeaching of gold from its ores using cyanide has been employed for well over a century (Habashi, 2016). Addition of cyanide converts the gold into a cyanide complex (Au(CN)2 -) that is soluble in water (Wang and Forssberg, 1990). The leaching reaction can be represented as Equation [1]:"

Dec 1, 2018

By K. Isaac, S. O. Bada

This research focuses on the co-firing of discard coal with refuse-derived fuel (RDF) to utilize this abundant resource in South Africa for energy generation and reduce the volume of waste disposed of at landfills. The potential of a coal with a high ash content (> 40%), which is a grade used in some power stations in South Africa, and its combustion compatibility with two different RDFs in terms of emission reductions has been established. Gaseous emissions and ash residues from the combustion and cocombustion of the coal, two different RDFs and coal/RDF blends of different proportion were analysed. One of the RDF samples contained mostly paper (PB) and the other mostly plastic (PL). Co-combustion ash from the discard coal and RDFs showed a decrease in chloride and alkali metal contents as the coal ratio in the blend increased. The slagging propensity of the co-fired blends was found to be very low, while the propensity for fouling decreased from high to medium for all the blends with < 75% RDF. Cocombustion of RDF with coal showed a decrease in SO2 emissions from 387 ppm (discard coal) to 50 ppm for the sample containing 25% coal discard plus 75% PL. A 15% PL to 85% coal blend also reduced NOx emissions from 145 ppm (100% PL) to 88 ppm. The lowest CO2 emission observed was 6000 ppm for the blend of 85% discard coal plus 15% PB. It was established that the most favourable fuel blend that can produce the lowest sulphur emissions if used for power generation is the 25% coal discard plus 75% PL sample.

Aug 2, 2022

By E. M. W. Skinner

Various models of near-surface kimberlite pipe emplacement have been proposed over the years. These include a top-down, phreatomagmatic model, a bottom-up, embryonic pipe model and three top-down explosive dyke models. AU of these models consider kimberlites as essentially the same rock type. However, different kimberlites have different pipe shapes and contain different rock types with very specific mineral assemblages and textures and therefore are likely to have been emplaced by different processes. Some authors have considered local geological differences as the principal reason for the contrasting geology but others argue that, while geological differences might contribute locally the petrographic peculiarities of particular kimberlites may be due mainly to inherent compositional differences specifically in the ratios of juvenile CO2 and H2O.

Jan 1, 2010

By M. A. El-Sayed

"Double oxide films (bifilms) are significant defects in light alloy castings that occur when, during melt handling, the oxidized surface of the melt is folded over onto itself and then entrained into the liquid metal, encapsulating a portion of the local atmosphere. These defects create crevices in the final castings and have been shown to decrease tensile and fatigue properties, and also to increase their scatter, making casting properties unreproducible and unreliable. This paper reports on two different experiments performed to study the behaviour of such defects in Al alloys. In the first experiment and as a proxy for a bifilm, air bubbles were held in an Al-5Mg alloy melt for varying periods of time before the melt was allowed to solidify. The composition of the gas content of the bubbles was subsequently analysed using mass spectrometry to ascertain how it changed with time. In the other experiment the influence of the age of bifilms on the mechanical properties of Al-5Mg castings was assessed by holding castings in the liquid state for different times before solidification, followed by mechanical property testing and SEM and EDX studies of the fracture surfaces of tensile test bars. This research could provide a better understanding of the behaviour of double oxide film defects, and may lead to the development of new techniques by which these defects could be eliminated, or at least deactivated, in light alloy castings. Introduction One of the major structural defects affecting the reproducibility of mechanical properties of aluminium castings is the double oxide film defect (El-Sayed and Essa, 2017; El-Sayed and Ghazy, 2017). This type of defect is usually created as a result of poor filling system design. Owing to the very high reactivity of liquid Al-Mg alloy with oxygen in the air, the surface of the liquid metal can be considered to be permanently coated with an oxide film (Weigel and Fromm, 1990). As a consequence of surface turbulence, the oxidized metal surface can become folded over onto itself, but not fused, and then submerged into the bulk liquid, with a portion of the mould atmosphere being entrapped within it (Campbell, 2003; Al- Sayed, 2016; El-Sayed, Hassanin, and Essa, 2016)."

Nov 1, 2018

This paper describes DRA?s involvement with the expansions at Tati Nickel, Phoenix Mine, that have taken an initial plant design of 3.6 Mtpa (originally built by Murray & Roberts), up to 5 Mtpa, and eventually 12 Mtpa capacity. Initially, the plant could not achieve the design name plate capacity for the first few years of operation, as a consequence of the notoriously hard and abrasive nickel ore affecting primarily the operation of the crusher circuit. In order to extend the life of mine, Tati? assessed and then redefined the mining plan, choosing to increase the Phoenix mine reserves to a lower cut-off grade. In order to increase nickel units produced, the concentrator had to therefore treat additional tonnage at lower head grades. Site investigations and field tests around the comminution circuits are outlined, indicated that the milling circuit could be increased to 650 tph, from the initial design of 470 tph, for a similar feed grade and recovery. A project was initiated to debottleneck the crusher circuit and achieve the new target throughput. (Project 5M). This was followed by a feasibility study of the impact of pre-concentration by DMS, which after promising laboratory tests, was followed up with the installation of a 200 tph ?demonstration? plant. The success of this demonstration plant provided the impetus to expand the supply to the 5 Mtpa mill from a large preconcentration stage. A gyratory crusher (one of the largest and most powerful) will receive ore directly from the open pit operation, feeding into a secondary-tertiary crushing plant followed by a modular DMS preparation circuit. Four large DMS processing modules have been installed to treat the tonnage, with high expected rejection levels. Finally a review of the DMS process capability on an ostensibly disseminated micro-gabbro nickel ore is given, which shows the remarkable impact that preconcentration can have on an operation, both in terms of profitability and a successful process ?expansion?. The performance of the DMS plant has significantly extended the life of mine, allowing the mine to significantly reduce mine cut-off grades and curb its previously selective mining practice.

Jan 1, 2009

By M. Kumral, S. Hmoud

Optimising the configuration of infill drill holes is an important step during mineral exploration campaigns. However, this optimisation process encompassing all possible drilling configurations within a mineral deposit is highly combinatorial and hard to solve in a reasonable time. This paper proposes using spatial clustering algorithms to divide the orebody into contiguous zones and target the best zones with infill drilling in order to reduce the size of this optimisation problem. Several clustering algorithms are assessed in a spatial context on hypothetical datasets. This evaluation shows that the hierarchical density-based spatial clustering application with noise (HDBSCAN) algorithm can be used in combination with the uniform manifold approximation and projection (UMAP) dimensionality reduction algorithm to identify contiguous zones in the orebody.

Sep 1, 2021

By J. C. Barry, J. H. van Laar, P. L. Crouse, H. Bissett, I. J. van der Walt

"Plasma-assisted spheroidisation of metal powders offers several technical advantages with respect to both the ease of materials handling and powder-metallurgical item manufacturing. Advantages include improved flowability, increased powder packing density, elimination of internal component cavities and fractures, changes in morphology resulting in decreased friction between particles and contamination during pneumatic transport and enhanced particle purity. In this empirical study, spherical iron particles were produced using a microwave plasma operating at atmospheric pressure and characterized using optical microscopy and SEM techniques. Iron powders were fed into the system at fixed operating conditions, resulting in particles with spherical structures. The theoretical estimate of the time required for melting to occur is 1.6 ms, an order of magnitude smaller than the actual residence time. IntroductionParticle design and functionalization has become an increasingly popular aspect of materials synthesis and powder-metallurgical item manufacturing. One such technique involves the spheroidisation and densification of feed materials, typically in the form of chemical powders with wide particle size distributions. The major benefits of powder spheroidisation include improved powder flowability, increased powder packing density and powder purity, reductions in internal voids and defects, as well as the ability to manipulate the particles surface morphologies (Boulos, 2004). Thermal plasma processing has the potential for scale-up and for producing industrial quantities of spheroidised powder.Thermal plasma technologies offer a wide spectrum of material synthesis and treatment options, amongst others the synthesis and spheroidisation of nano-sized ceramic and metal particles (Kumar and Selvarajan, 2006). The spheroidisation process occurs within the plasma discharge via in-flight heating and melting of the powder feed material, given high enough plasma temperatures (Fridman, 2008, p. 495). Surface tension in the molten droplets results in spherical, or nearly, spherical, powder particles being formed upon exiting the plasma discharge where the droplet undergoes rapid cooling and freezes. Quite often, the bulk density of these spherical particles is higher than that of the starting material (Boulos, Fauchais and Pfender, 2013, p. 42). The different plasma spheroidisation techniques reported include radio frequency (RF) induction thermal plasmas (Jiang and Boulos, 2006; Karoly and Szepvolgyi, 2005; Yuming, Junjie and Yanwei, 2013), nontransferred direct current (DC) thermal plasmas (Chaturvedi et al., 2014; Kumar and Selvarajan, 2008; Suresh, Selvarajan and Vijay., 2008) and microwave-assisted plasma processing methods (Chen, Gleiman and Phillips, 2001; Vanamu et al., 2004; Weigle et al., 2004)"

Jan 1, 2016

By V. Sheikhzadeh, M. Saghaeian, N. Esmaeili, R. Hejazi, A. Dehghani Ahmadabadi

High Pressure Grinding Rolls (HPGR) are mostly used prior to pelletising processes to increase the specific surface area (SSA) of iron ore concentrate. For expressing SSA, the Blaine index is utilised as one of the most important dimensional properties of iron ore pellet feed. ISO 21283 is a standard test method that explains the manual of Blaine air-permeability apparatus for determination of this parameter. In this standard, the disaggregation method is based on passing the minus of 1 mm samples from the 0.150 mm sieve. The disaggregation process has an effective role on the results of Blaine airpermeability test especially for regrinding HPGR products. In this research, firstly the Blaine index of samples was measured without disaggregation. Following this, disaggregation was done by passing the minus of 1 mm samples through three sieves with different dimensions, 0.150, 0.090 and 0.045 mm, separately, and the Blaine index was calculated for each one. Finally, lab-mill with rubber balls, called Jar mill, was investigated as another option. Screen analysis and image analysis with SEM were performed to evaluate the effects of the sample's disaggregation on the size distribution and agglomeration of samples. The results showed that the disaggregation method with sieve size 0.150 mm, according to ISO 21283, was not applicable for HPGR products because the particles were still stuck together. In addition, the disaggregation method with the sieve size 0.045 mm or with Jar mill offered reasonable results. Keywords: Disaggregation, Blaine index, specific surface area, regrinding HPGR, ISO 21283, Jar mill

Jan 1, 2020

By B. Besa, S. Nalukui

Globally, the demand for mineral products is ever increasing. Extraction of these mineral resources results in the continuous production of a huge volume of waste material, including tailing dumps. The mass of tailings usually exceeds the actual resource and often contains hazardous contaminants. This study investigated the effects of tailings disposal on soil, water, and air quality in the Nampundwe area. Water, soil, and dust samples were collected from different locations in the surrounding communities. The constituents analysed in the samples included copper, cobalt, iron, sulfate, and silica. According to the results obtained, some seepages occurred from the tailings impoundment to the shallow aquifer in the area. However, the general water quality meets the Zambia Environmental Management Agency (ZEMA) statutory limits. Recorded concentrations of sulfate (1500 mg/l), copper (1.5 mg/l), cobalt (1.0 mg/l), iron (2.0 mg/l), and silica were between 0.003 mg/l and 705 mg/l, which is far below ZEMA’s statutory limit. Silica concentration was also evident in the air. The highest concentration recorded was 260 ppcc (particle per cubic centimeter) recorded in July 2019 from the northern direction of the tailings dam. The concentration was below the statutory limit of 350 ppcc. The topsoil from the northern part of the tailings recorded a silica dust concentration of 39.9 ppcc. Iron was evident in the underground soil with a concentration of 8.01 ppcc, cobalt 0.005 ppcc, copper 0.051 ppcc, while sulfate was recorded as 0.41 ppcc.

Oct 9, 2024

By M. Z. Emad, A. Khan, N. Abbas, K. G. Li

Probability-based empirical methods were employed as an alternative approach to predicting uncertainties associated with rock mass properties. The focus was on developing probabilistic spreadsheets to forecast rock mass classification indexes. Histograms were constructed to describe the best distribution in predicting rock mass properties. The developed models also offer utility in predicting the impact of discontinuities within the rock mass on rock strength and rock mass classification systems. Statistical analyses identified volumetric joint count, joint spacing, joint frequency, and rock strength as the most influential parameters. Moreover, the statistical analysis revealed varying degrees of correlation among different rock mass properties. While some properties demonstrated significant correlations suitable for modelling, others did not align well with any correlation model. The results highlight the need for a comprehensive approach to rock mass characterization, considering multiple factors beyond volumetric joint count. Geological complexities, including tectonic activity and weathering processes, may obscure direct correlations. These results emphasize the importance of empirical modelling and detailed site investigations for accurate assessment of rock mass quality and stability in the Himalaya.

Jun 10, 2024

By C. Chingwaru, W. Chingwaru, J. Vidmar

"Zimbabwe is endowed with rich deposits of minerals such as diamonds, platinum, coal, uranium, lithium, gold, antimony, iron, and chrome. Bioleaching has been implemented as an efficient and low-cost method to extract metals such as copper, cobalt, and gold from sulphide and/or ironcontaining ores and mineral concentrates in a number of countries around the globe. Zimbabwe, despite being a world leader in mineral wealth, has gone through years of economic stagnation which have brought with them energy shortages. Bioleaching is an innovative way to recover minerals from ores using relatively low-capital-cost and non-polluting technology. Principally, iron- and sulphur-oxidizing bacteria can be used to oxidize iron and sulphide to ferric iron and sulphuric acid, respectively, and the ferric iron oxidizes the insoluble metal sulphides to soluble metal sulphates that can be readily recovered from solution. Although some minerals such as gold are inert to biological reactions, they can be liberated using bacteria that act on certain types of ores and other minerals that co-occur with these minerals. The geology of the mineralized areas in Zimbabwe, rich in chalcopyrite / pyrite, allows a number of microorganisms to be used for the extraction of minerals by bio-oxidation. This paper reviews the potential of bioleaching in the country. IntroductionZimbabwe has rich deposits of minerals including diamonds, platinum, coal, uranium, lithium, gold, antimony, iron, and chrome. Bioleaching is defined as the use of microorganisms to facilitate the extraction of metals from sulphide or iron-containing ores or concentrates (Rawlings, 2004, 1997). Bioleaching has been shown to be an efficient (Blowes, Ptacek, and Jurjovec, 2003; Nordstrom and Southam, 1997; Schippers, 2004) and low-cost (Schippers et al., 2010) method to extract minerals in many countries around the globe. For example, aerobic Fe(II)- and sulphur-oxidizing bacteria have been shown to be up to two orders of magnitude more efficient in the oxidation of pyrite than the chemical processes (Blowes, Ptacek, and Jurjovec, 2003; Nordstrom and Southam, 1997; Schippers, 2004). Additionally, bioleaching can be used to extract minerals from low-grade ores, sulphidic waste rock dumps, and tailings efficiently (Schippers et al., 2010)."

Jan 1, 2017

By J. K. Pothal, S. Basu, R. Barik, P. K. Senapati, A. Dubey

The aim of this paper is to study the characteristics of limestone particles (size varies from 4 mm to 20 mm) during its transportation from open cast mines through pipes. The influence of four different size fractions of limestone samples (4–6 mm, 6–10 mm, 10–15 mm, and 15–20 mm) on pipe flow characteristics during vertical transport in a 100 mm NB hose pipe was investigated. The flow velocities in the vertically lifting pipe was varied from 0.95 m/s to 2.78 m/s and a rotary feeder of 2 to 4 tonne/hr. capacity was employed to feed the limestone samples to the lifting pipe. The pressure drop data for the different size fractions of limestone samples at different mixture velocities were analysed. The effect of input volume fraction and superficial velocity of limestone samples on hold-up ratio were discussed. It was indicated that there was no substantial increase in pressure drop of slurry samples in the studied range of concentrations (CW = 4.22% - 12.54%), particle size, and low to medium range mixture velocities with respect to water run head loss data. The hold-up for the larger size fractions (15–20 mm) of limestone samples was found to be significant as compared to smaller size fractions, which may be due to terminal settling velocities of individual fractions of the studied samples.

Mar 4, 2025

One of the key issues facing gold producers is the management of cyanide and the implementation of the International Cyanide Management Code. Many operations now use cyanide destruction processes to ensure that the material being discharged to the tailings dam is compliant with regulatory requirements and the International Cyanide Management Code. One of the problems for operations is the quantification of both cyanide species and their reaction products throughout the leach and destruction circuits. Therefore methods have been developed utilizing high performance liquid chromatography (HPLC) to measure free cyanide, cyanide complexes of metals such as copper and iron, and other species formed from reactions in leaching and cyanide destruction, including cyanate, thiocyanate, and sulphur species (eg. sulphite, thiosulphate and sulphate). This enables a complete mass balance for cyanide and sulphur in both leaching and cyanide destruction. This paper outlines the methodology which has been developed and discusses the application of these methods in the fundamental research currently being conducted on the impact of sulphide minerals in cyanidation and cyanide destruction chemistry.

Jan 1, 2009

By D. Sethuram, P. G. Koppad, S. Iyengar, R. Shobha

TiB2 and CeO2 particle-reinforced Al6061 hybrid composites were manufactured using stir casting and hot rolling techniques. The base alloy and composites were hot-rolled at 500ºC and a 50% reduction was achieved through 12 passes. The effect of varying TiB2 and CeO2 particle additions on the microstructure and mechanical properties of the Al6061 matrix was studied. Scanning electron microscopy showed uniform dispersion of both the reinforcements, with good interfacial bonding. Microhardness and tensile properties like yield and tensile strength were found to be higher for hybrid composite with 2.5% TiB2 and 2.5% CeO2 compared to Al6061 alloy and other hybrid composites. The increased tensile strength is attributed to good dispersion and interfacial bonding between the particles and Al6061 matrix. Fracture analysis using a scanning electron microscope revealed ductile fracture for the Al6061 alloy and mixed characteristics of ductile-brittle fracture for hybrid composites

Oct 1, 2021

By A. N. Brown

The importance of the minerals industry in the economy of the country is discussed, and the tremendous changes that have taken place over the past two decades, including the widespread application of computers and the use of mechanization, are outlined. A discussion of the future of the minerals industry points out that, with the rise in the price of gold, the life of the gold-mining industry can be expected to extend beyond that previously predicted, and that the demand for uranium, which has been depressed, is uncertain. As a result of the oil crisis, the demand for coal has increased and large expansion programmes are planned. These involve coal exports and the use of coal for the generation of electric power, for the production of liquid fuels, and for the smelting of metals. Technical challenges face engineers in every avenue of the minerals industry: in deep gold mines, underground coal mines, strip coal mines, and open-pit mines. Studies indicate that only one-third of the demand for trained mining and metallurgical engineers is being met and that the position is worsening. However, there are indications that the industry is succeeding in attracting more engineering students, and the supply is expected to improve. These efforts should be co-ordinated, expanded, and intensified. There is a need to ensure that sufficient teaching staff of the right calibre and experience are attracted to universities and technikons. The first degree course is comprehensive and basic, and specialization through post-graduate study should be encouraged. The influence of national service on the education and training of engineers is discussed.

Jan 1, 1982

By J. D. Austin

Currency fluctuations affect the rand revenues of all exports of mineral commodities, as well as influencing their price on local markets. Of the more than 50 mineral commodities produced by South Africa, about 75 per cent derive 40 to 100 per cent of their revenues from exports. . Although supply and demand are largely beyond its control, management can maximize its revenues despite fluctuating overseas prices and exchange rates by using the right market at the right time. Management can operate in the futures markets, which involve a specific commitment to deliver a specific quantity of a standardized commodity at a set time in the future and at a price that is determined on a futures exchange in open auction; or management can use the options market, in which a producer can insure against the risk of a falling price by taking out a put-option, which gives the holder the right (but not the obligation) to sell the commodity at a stated price at an agreed time in the future. In the forward markets, management has three available tools; forward currency transactions, trading of currency options, and money market hedges. Revenues, currencies of exchange earnings, purchasing power of the rand, and world price trends are shown in over 40 diagrams and tables for the main mineral commodities produced in South Africa.

Jan 1, 1984