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By R Garzon

For resources projects with healthy net present value (NPV) and low cash flow volatility, conventional discounted cash flow (DCF) analysis will continue to provide the dominant investment decision-making criteria. However, DCF analysis can be biased because it often applies a single risk-adjusted discount rate (RADR) to compare the value of projects with different risk characteristics. Many of the difficulties with DCF modelling arise from analystsÆ inability to determine appropriate risk discounts and to estimate expected spot prices inputs for the commodities produced over the life of the project. Modern asset pricing (MAP) is a very valuable complement to DCF analysis in addressing some of these issues. Most papers dealing with MAP, however, while academically rigorous, tend not to be explicit in terms of practical application of this methodology in routine project evaluation. This paper has the objective of reviewing the MAP methodology and of demystifying its complexity, by providing a simple but realistic step-by-step evaluation of a mining project, comparing its DCF and MAP NPV values. The paper concludes that MAP provides a minimum, risk-adjusted æfloorÆ value, thus representing a valuable complement to any DCF valuation.

Jan 1, 2007

Lead Removal from Contaminated Soils with Chelating Agents

Sep 13, 2010

Improvement of Phosphate Ore Flotation Performance Through Sized Flotation

Sep 13, 2010

In eastern China, most of the copper skarn deposits occur in folded troughs which are controlled by the EW-trending faulted fold systems (the Pal-Asian geotectonic domain), and the NNE-trending rift or fault zones (the Marginal-Pacific geotectonic domain), particularly the later. From the north to the south, there are four troughs hosting the main copper skarn deposits in eastern China: the Yanliao Trough, the Yangzi River Trough, The Qiantang-Yuanshui Trough and the Zichen Trough. There are more than 30 copper skarn deposits in eastern China, and ore reserves of each deposit are between 30 to 100 Mt with average grades over 1% Cu.    Most of the large copper skarn deposit-related intrusions are Mesozoic in age (170 to 100 Ma) and were emplaced during the Yanshanian Movement. Outwards from the intrusion bodies, both the skarn alteration and mineralisation show certain patterns of zonation. Mineral assemblages indicate a relatively high oxidisation state during metasomatic alteration and mineralisation. Sulphur isotopic work indicates that most d34S values of the sulphides are between ~4 to 3ë suggesting a common magmatic sulphur source. Fluid inclusion and oxygen isotopic studies suggest that early-stage fluid shows magma-related fluid characteristics although meteoric water was involved during late-stage alteration.

Jan 1, 1995

Newcrest Mining Limited (NML) owns and manages the Ridgeway Gold Mine (RGM) located outside Orange in the state of New South Wales. RGM is a new underground sublevel caving (SLC) operation that is ramping up production to 4 Mtpa. The success of the SLC method at RGM is strongly influenced by production drill and blast practices. Distinguishing features of the Ridgeway SLC operation include choke blasting against broken rock, drawpoint brow preservation, loading of blastholes with different in-hole bulk emulsion densities, precharging of production rings and routine drawpoint fragmentation assessment. These areas are described in the context of RGMÆs required blasting objectives, production drilling and charging activities and innovative practices.

Jan 1, 2002

A key issue in maintaining the mining industryÆs social contract to access community-owned resources, is the need to be able to demonstrate professional management of resource extraction and the risk associated with mining hazards. Significant failures such as disease relating to coal dust and asbestos and mine disasters such as Moura, Appin and Gretley have resulted in judicial and legislative interventions that respond to the community outcry but do not necessarily effectively manage the longer term risk in a sector driven by new technology. With the implementation of recent amendments to the Queensland Professional Engineers Act, senior engineers in all industries including the mining industry are required to be registered and to demonstrate that they have æmaintained competency in the practice of engineering in the area of engineering for which the (engineer) is ... registeredÆ. This may be facilitated through a report produced by an æAssessing EntityÆ. These entities are approved by the Minister on advice from the Board of Professional Engineers, Queensland. Engineers Australia and The Australasian Institute of Mining and Metallurgy (The AusIMM) are the two professional bodies approved as æassessing entitiesÆ charged with facilitating successful implementation of the process established by the legislation. The scope of the legislation covers engineering enterprises in Queensland and engineering activities elsewhere that may have been designed in Queensland. There is currently a challenge to determine what the necessary health and safety competencies for the mining industry are and how the maintenance of these competencies will be assessed. The different approaches taken by the two assessing entities are compared and contrasted. At the legislative level, establishing an obligation to assess professional competency is simple, but at the level of the profession, it is new ground that warrants a substantial research and development input. The challenge is to develop criteria by which the quality of such system can be assessed. The comparison is made by considering such issues as equity, effectiveness, efficiency, objectiveness and transparency. These five indicators are considered in terms of how they are applied in other sectors and how they might be applied in the mining sector.

Jan 1, 2009

The use of mining by-products for beneficial use may face approval, and acceptance barriers. This paper described the use of a sustainability framework to assess the safety, effectiveness and economic value of modified bauxite residue (Alkaloam«) for use on agricultural land in the Peel-Harvey region of Western Australia. The results indicate the merit associated with using this by-product from a safety and, private, community and environmental value perspective. They may be used to indicate the worth of pursuing any future community acceptance and agency approval process.   The use of Alkaloam« for beneficial use on agricultural land in Western Australia was first investigated over 25 years ago. Efforts to gain regulatory approval and community acceptance of Alkaloam« have had a complicated and enduring history. Understanding and assessing the value of a by-product using social and economic considerations, in conjunction with an environmental assessment, provided a more complete evaluation to that previously used.

Jun 1, 2010

By S M. Stewart

Building and Maintaining Community Relationships   In mining terms, the town of Waihi is distinctive with the Martha mine situated right in the heart of the town. MarthaÆs central location and other mining activity nearby means there is an increased community focus on the happenings at the mine and the effects and impacts of mining. While WaihiÆs proximity to the mine is unique, all mines have a community context that they operate within.   Issues of proximity simply heighten awareness and emphasise the need for building and maintaining good community relationships. In the three years we have been working alongside the Waihi community, we have worked together with concerned and supportive residents, representatives of Newmont Waihi Gold and representatives of Hauraki District Council, to develop a collaborative framework for addressing the economic, social, environmental, cultural and spiritual wellbeing of the people of Waihi. This could not have occurred without the genuine commitment of all participants.   This collaborative focus has resulted in some tangible progress in Waihi which, in part, stems from people taking an interest in the town because the town is taking an interest in itself. As we have worked and learned within the process of building and maintaining a collaborative and sustainable community environment, we have tried to adhere to a philosophy and a set of basic principles. We believe that this approach, combined with a teachable skill set, helped to create the opportunity to develop a truly collaborative community environment which continues to grow. Our paper will describe this philosophy, these principles and the skill set that we have applied.   The application of the process in Waihi has resulted in a series of outcomes unique to Waihi. These outcomes include formation of the Waihi Community Vision committee, the Vision Waihi Trust and the subgroups set up to further the interests of particular groups, for the collective benefit of all the community.   Based on our experience of other situations, and on the way the Waihi process has developed, we believe that the identified principles and skills can be transported and used in other cultures and contexts. While the resultant outcomes may differ, the underlying principles will still apply. Progress will come from creating a sustainable environment within which the community (including residents, industry and regulatory authority) can determine its own internal relationships and the vibrant growing sense it has of itself.

Jan 1, 2006

Use of Impact Crushing for the Enrichment of Low-Grade Colemanite Concentrates This paper presents the results of an investigation into the enrichment of -25+3 mm low grade colemanite concentrates exploiting differential breakage properties of various minerals associated within the ore sample. Boric acid production process requires concentrates containing at least 42 per cent B2O3, hence concentrates below this grade either stock piled or further treated to increase B2O3 content. The low grade concentrate is obtained as a by-product of Emet Colemanite Concentrator and the B2O3 content may vary around 37 - 38 per cent. The sample used in the experimental studies assays 37.52 per cent B2O3. In the experimental procedures the sample was crushed using a laboratory size horizontal shaft impact crusher and the products were classified into different size fractions by screening so that any improvement by size could be observed. In the tests the effects of parameters such as the revolution speed of the crusher and heat treatment was checked. Test results prove that boron contents show a tendency to increase as the particle size decreases. As a result of the experimental studies a colemanite concentrate assaying 42.13 per cent B2O3 is produced with 76.55  per cent recovery. Arsenic content is seen to change inversely proportional with the B2O3 content of the concentrate such that it drops from 1016 ppm from the as received sample to 676 ppm in the concentrate.

Sep 13, 2010

By J Lea, P Hatherly, J L. Edwards

Coal exploration has traditionally involved the acquisition of data to enable a resource to be quantified and qualified to the extent that its economic potential can be determined. This process commonly relied on: drilling to determine the depth and thickness of coal seams, broad characterisation of the overburden and interburden, and to provide cores for coal quality analyses; basic wireline logging to cross-check the depth and thickness of coal seams and provide some indication of rock mass strength; and basic surface geophysics and remote sensing to identify major geological structures. In recent years, the adoption of the JORC Code as a basis for the reporting of resources and reserves has placed a greater emphasis on the need for detailed, reproducible data sets that not only satisfy the traditional requirements of mine planners, but also satisfy the governance requirements of corporate and financial institutions. Similarly, the development of sophisticated numerical modelling techniques for use in both open cut and underground mine design, has seen a greater demand for precise geotechnical data, in situ stress characterisation and hydrological information as routine input to the design process. These requirements, coupled with the prevailing trend toward high capital, relatively inflexible mining techniques less tolerant of geological surprises, and the need for consideration of environmental issues such as groundwater impacts and surface subsidence, requires that modern exploration programs be multifaceted, and designed to commence capturing data relevant to ædownstream issuesÆ even during the initial phases of exploration planning.

Jan 1, 2009

By D Flint, O Rindriatmoko

PT FreeportÆs Deep Ore Zone (DOZ) Mine is the latest block cave mine within the East Ertsberg Skarn System (EESS).Issues with undercutting and stress concentrations at the extraction level were experienced, leading to reduced pillar strength.The extraction level-related issues became more pronounced, leading to local panel drift collapse, in an area that was over 100 per cent extraction. A review of ground conditions, panel collapse descriptions, and factors contributing to panel collapse are presented in this paper.

Jan 1, 2005

By Y Xie, D Willingham

Predictive maintenance (also known as ‘condition/health monitoring’) refers to the intelligent monitoring of equipment to avoid future failures. In contrast to conventional preventive maintenance, the maintenance schedule is not determined by a prescribed timeline; instead, it is determined by analytic algorithms, such as machine learning, using data collected from equipment sensors and/or via simulation.Predictive maintenance offers the following benefits for operators and equipment manufacturers:- reduces equipment downtime by identifying issues before failure, thereby enabling convenient scheduling of equipment service and extending equipment lifetime- determines the root cause of the failure, enabling appropriate service to be performed without utilising resources to determine a diagnosis- avoids the unnecessary costs of maintenance and unexpected failures- improves safety and product quality.Algorithms and data are critical to predictive maintenance success. Sensor data is first preprocessed using advanced statistical and signal processing techniques; it is then combined with predictive modelling techniques, such as machine learning, to estimate equipment health.Once tested, predictive maintenance algorithms may be used in an operational setting within an IT environment, such as a server or cloud. Alternatively, algorithms may be implemented in an embedded system directly on the equipment, allowing for faster response times and significantly reducing the amount of data sent over the network.CITATION:Willingham, D and Xie, Y, 2017. Predictive maintenance modelling for bearing-based equipment, in Proceedings Iron Ore 2017, pp 627–630 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Jul 24, 2017

By T Trott, M Lewis, G Lumley

The analysis of equipment trends in The AusIMMÆs revision of Monograph 19 - Australasian Mining and Metallurgical Operating Practices (AMMOP) (in prep) in the paper by Graham Lumley raised some interesting, and in parts disturbing, trends in the Australian open cut mining industry. According to the Australian Bureau of Statistics (2011) the productivity of the whole mining industry is down by 34 per cent since 2001. In terms of open cut equipment, median output for draglines is down by 15 per cent since 2003, electric rope shovels are down by 41 per cent since 2003, hydraulic excavators are down by 39 per cent since 2008, front-end loaders are down by 39 per cent since 2007 and trucks are down by 41 per cent since 2006. Clearly e boom has not been good for the efficiency of the mines. During this same time, best practice (defined as the average of the top ten per cent by annual output per unit of input) has declined, but not by as much as the median (eg shovels down by eight per cent, excavators down by 19 per cent and FELs down by five per cent). This paper will build on the analysis of AMMOP to understand the differences occurring between median and best practice and identify the factors contributing to the decline in performance. As the industry enters a period of potentially lower prices for commodities and reduced margins, pressure will be brought to bear on mine sites to start moving more with the equipment they have. An understanding of where efficiency has been lost will be a key component in that. The information contained in AMMOP, and the subsequent analysis of that information in papers such as this one, will be crucial to reversing the decline in open cut equipment performance.CITATION:Lumley, G, Trott, T and Lewis, M, 2012. Reversing the trend in open pit mining equipment output, in Proceedings Eighth Open Pit OperatorsÆ Conference , pp 75-82 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Sep 18, 2012

Thank you for your introduction and the opportunity to speak at such an important forum. I feel honoured to be the Tas McKee speaker for this yearÆs conference. I can honestly say that Tas McKee typified the spirit that has ensured the survival of the mining industry despite the modern-day challenges that we encounter. He was one of the most influential people in the New Zealand minerals industry. In 1938, with his father and brother, Tas established Lime & Marble Limited. Over its history, this company evolved from its original base of marble mining to diversify into gold mining and exploration for other industrial minerals, uranium, precious and base metals. He was truly a pioneer that persevered against the odds.   That leads me to the subject of my discussion today. I am going to delve into todayÆs challenges as they apply to gold companies. While we gold miners should be generating record returns, the gold industry shareholder return performance in this buoyant market has barely equalled that of the gold price. It is a dilemma but one that can be resolved with the right strategy.

Jan 1, 2006

By X Zhang, B McFadzean, P E. Ngoepe, B Nemutudi, P P. Mkhonto, S Pikinini

There is still a huge challenge in efficiently recovering the arsenides minerals that are largely concentrated in the Platreef Bushveld Complex which constitutes about 21 per cent of the platinum group minerals (PGMs). Therefore new collectors are required to improve the recovery separation of hard to float minerals, in particular sperrylite. The triazine modifications are promising reagents for mineral flotation and have not been given much attention in minerals processing. The adsorption of sodium 2,6-dithio-4-butylamino-1,3,5-triazine (SDTBAT), sodium 2,6- ditrithiocarbonate-4-butylamino-1,3,5-triazine (SDTTCBAT) and sodium normal butyl xanthate (SNBX) on sperrylite (100) surface were performed to identify a well performing collector molecule. We observed that the triazine collectors preferred to bridge on surface As and Pt atoms through the S atoms. We found that the adsorption energies were in the order: SDTTCBAT > SDTBAT > SNBX, indicating that the SDTTCBAT had strong exothermic adsorption on sperrylite and pyrite. These results showed that the ditrithiocarbamate had a great influence in the adsorption strength on the sperrylite surface. Importantly it was found that the triazine collector had stronger adsorption than the xanthate, which portrayed a promising replacement of xanthate collector. These results paved a way for design of novel collector for sperrylite and other chalcogenide minerals to improve their recovery.

Aug 24, 2022

By M Foster

The new environmental legislation of 1986 was left incomplete and to date remains so. The 'missing' process by which environmental consideration should be applied was never embodied in law and has predisposition to a wide interpretation. The Resource Statutes which govern land use and development place demands on the environmental process without that definition. The Resource Statutes are themselves under review by Government. There is a new Government Department of Conservation. It is still in its early days and facing a challenge to compose its role as a steward over large tracts of land holding significant marketable resources, animal, vegetable, mineral, and abstract. It has also taken over numerous consent and advocacy roles in legislation beyond its own empowering Act. Enter the mining company, anxious if not able to get an easy passage for consents to prospect and mine, then at least to have a clear path to tread to get there, within a fixed time period. Whichever options appear available to process environmental approvals, public participation is that being favoured most by the regulatory bodies. Where a public notification of consent applications is mandatory, public participation should lead to the fastest track available.

Jan 1, 1988

By M Svartsjaern, D Saiang and K Mäkitaavola

The Kiirunavaara mine is a large-scale (28 Mt/a) iron ore mine located in northern Sweden. The mine is owned and operated by Luossavaara-Kiirunavaara Aktiebolag (LKAB) using sublevel caving (SLC). The SLC area underlies an open pit decommissioned in the 1950s, the current main SLC haulage level is situated at an depth of 1100 m. The main orebody dips 60 degrees to the east with a distinct boundary defining the hanging wall to the east and footwall to the west. Since the 1980s damage has been observed both in the footwall rock mass as well as on the footwall crest of the open pit. Recent investigations indicate that the underground footwall damage is primarily controlled by large-scale slope failure mechanisms. Structurally controlled near-vertical planar shear failures in the upper footwall appear to be driven or facilitated by a step-path like curved shear failure situated in a zone starting ca 250 m, and intersecting the SLC about 100 m above the active mining level. To confirm this failure evolution a pilot underground measuring system has been designed and installed to monitor the expected rock mass displacements indicated by numerical models based on the above mechanisms. The systems consists of 50 m time domain reflectometry (TDR) coaxial cables installed in the footwall both across and away from an estimated damage extent boundary to monitor shear movements along natural joint surfaces. The TDR installation is combined with long extensometers to facilitate differentiation between diffuse shear and rock mass normal expansion. Additionally, a low-tech system of tape extensometer lines are installed in drifts and stopes running perpendicular to the ore strike to monitor horizontal displacements in the infrastructure as the footwall ‘slope’ loses confinement during mining advance when the mined out areas are replaced by caved rock from the hanging wall.CITATION:Svartsjaern, M, Saiang, D and Mäkitaavola, K, 2016. Underground footwall monitoring at the sublevel caving mine – Kiirunavaara, Sweden, in Proceedings Seventh International Conference and Exhibition on Mass Mining (MassMin 2016), pp 773–780 (The Australasian Institute of Mining and Metallurgy: Melbourne).

May 9, 2016

Surface Chemistry of Iron Ore Throughout a Processing Plant

Sep 13, 2010

By A B. Christie

The Institute of Geological and Nuclear Sciences' Mineral Resources Programme is currently carrying out research under two major projects:   HAREM (Hauraki Andesite Rhyolite Epithennal Mineralisation) The Hauraki Goldfield lies within a belt of andesite-dacite-rhyolite volcanics of Miocene Pliocene age which is underlain by a basement of Mesozoic greywacke. It contains some 50 separate epithermal gold deposits and is a world-class gold and silver producer. The HAREM project is aimed at improving models of the epithermal gold mineralisation, and to better understand the processes and controls of origin, transport and deposition of the gold.   MARGO - (Marlborough Gold) The MARGO project is aimed at determining the geological factors that controlled the formation of the Mesozoic mesothermal gold-antimony-tungsten deposits in the Marlborough Schist belt. Following reconnaissance work on 12 deposits, our current work is concentrated on deposits in the Wakamarina valley.

Jan 1, 1994

By D J. Brake

The correct specification and then selection of primary or major fans for an underground mine is a critical decision not only in terms of fan capital and operating costs, but also safety and reliability which usually has a major impact on mine production. In addition, fan manufacturers may spend tens of thousands of dollars preparing proposals for a purchase enquiry for primary fans especially where they have complete responsibility for the installation (turnkey projects). There are many good reasons to thoroughly and fairly adjudicate fan tenders. This paper describes the process to achieve this starting with the initial fan specification through to the final award.CITATION:Brake, D J, 2017. Fan specification and tender adjudication for mine ventilation engineers with particular reference to turnkey projects, in Proceedings Australian Mine Vent Conference 2017, pp 245–252 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Aug 28, 2017