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Project-finance risk assessment is mature and approached systematically. Mining industry due diligence remains fragmented with specialists addressing different aspects of the project such as reserves/JORC, environmental impact, commodity market, even financial analysis/ modelling. Each professional has a natural tendency to believe that the risk factors they have examined are the key ones necessary to be reviewed, as if their review will stand in isolation from others in the way a project materialises. By first laying out the project risk categories and risk matrices, this paper examines the due diligence process with a keen eye to the risk assessment and overlap/interaction. Some cross fertilisation of due diligence techniques from other industry sectors is placed into the mining context. Six case studies are then presented with regards to due diligence features in each projectÆs feasibility review or financial information/ offering memorandum. A power case first shows the differences between the due diligence expectations of banks versus bond financings. Then some Australian and Indonesian mining development cases are analysed to see the due diligence learning points. Some of these were project/due diligence failures. The conclusion focuses on the value of a systematic risk assessment for project evaluation, all from the project-finance perspective.

Jan 1, 2007

Distinguished guests ladies and Gentlemen. As many of you know, before I became a Labour Member of Parliament, I had an unusual career path for a politician, in that I spent quite a few years working in the business community. In other words, I was mainstreamed before I was institutionalised. Given that some of this time was spent working for the then Macraes Mining Company Limited, now Gold and Resource Developments NL, I feel that I may have a perspective on how things are seen, on both sides of the fence. In terms of public perception and esteem I am not sure which career option was the step up and which was the step down. So far what I have found very familiar, is that in both roles there is a gulf between the reality and the perception of that reality - a gulf that is both huge and hard to bridge. I think it is a point worth making here amongst another busy industry cluster, that we can all too easily get so embroiled in the day to day activities, that we lose sight of how this might look to those running on a different treadmill. I can still remember scratching my head at the beginning of some days, as I worked to get new mining projects started that I knew were going to bring real jobs and economic benefit to New Zealand, but ending the day feeling like I may instead have been proposing bringing back both strip mining and slavery. If I learnt one valuable lesson out of that time it was this: .... mining has become so publicly demonised on the road to ecological nirvana, that even attempting a lucid dialogue on mining issues, with some, is incredibly difficult.

Jan 1, 2000

Radio Detection and Ranging is an active form of remote sensing. The-imaging system sends out a source of electromagnetic energy to 'illuminate' the terrain and then records the energy returned. The wavelengths used by radar are in the microwave region and vary from a few millimetres to about a metre. Radar systems are independent of lighting conditions and weather. In addition, targets may be illuminated in the optimum direction to enhance features of interest. New Zealand was one of the principal investigators on the Shuttle Imaging Radar (SIR-B) experiment, part of the payload on Challenger Mission 41-G in October 1984. Data collected over New Zealand was restricted to two very poor quality optical images and one poor quality digital data take. The digital image covered the ranges between the Hawke Bay-Wairoa Basin and the Volcanic Plateau. Variations of texture in this image frequently were indicative of variations in lithology and induration. The image also clearly depicted major faults where these had had a significant effect on the topography.

Jan 1, 1986

By S Serp, M Duchateau, P Chevreux

Molten salt reactor (MSR) is a promising advanced reactor system aiming to the transmutation of minor actinides such as americium in order to reduce the inventory of ultimate nuclear waste. The fuel is a molten salt in which actinides are homogeneously dissolved in the liquid phase. A chloride salt may be retained for this concept, as it provides low melting point, high solubility of actinides, harder neutron spectrum. To avoid corrosion and precipitation issues, molten salt composition has to be carefully controlled with impurity content as low as possible. Obtaining pure actinide chlorides without contaminants such as oxide, oxychloride, hydroxide and water is still a challenge. To prepare actinide-bearing salt, the chlorination of actinides oxides was investigated in an unstirred reactor under flowing gas as solid-gas reaction. The carbochlorination of PuO2 were performed in the temperature range of 600 to 800°C with chlorine gas as a chlorinating agent and the presence of solid carbon. PuCl3 was successfully synthesised by this method and characterised by X-ray diffraction measurements but some impurities such as oxide phase remain inside the formed product. Refinements of anhydrous and hydrated PuCl3 phases by Le Bail method were also performed for crystalline materials definition. Conversion mainly depends on the chlorinating temperature and the contact between the oxide and the chlorinating agent. A conversion value of 70–80 per cent was achieved at 700°C from PuO2 with quite high specific surface area. The conversion rate was not improved with increasing the chlorination time. The volatilisation of Pu was observed during the carbochlorination experiments. To avoid a loss of Pu caused by sublimation, the chlorination temperature should be limited to 650°C despite that the conversion of PuO2 to PuCl3 was enhanced by increasing temperature. Both carbochlorination and hydrochlorination of AmO2 were also carried out leading to the formation of AmCl3. These first results suggest that americium oxide was chlorinated more readily than plutonium oxide. The purity of produced PuCl3 and AmCl3 still deserves further investigations.

Jun 19, 2024

A major problem in open pit mine planning is to determine the optimum pit limit of the mine. The optimum pit limit is the one with maximum discounted net profit and satisfies technical conditions. A number of optimisation techniques have been proposed for determination of pit limits. Among these techniques, those based on graph theory are suitable to solve the three-dimensional (3D) problem. In this paper, two maximum flow methods named, Dinic's algorithm and Push-Relabel algorithm have been used to find the optimum pit limit of an iron ore mine. This method has been implemented in Gol-e-Gohar iron mine in south east of Iran in order to find the final pit limit. Issues, like properties of the mine and orebody, are studied. These properties include wall slope, sulfur and phosphor grade restrictions. The result shows that these properties have significant effect on the determined pit limit.

Dec 6, 2010

In November 1969, New Zealand Steel Ltd pioneered the commercial use of the SL/RN solid fuel direct reduction process to make sponge iron as a feed material for electric arc furnaces. Serious process problems with the use of green balls and coal injection were progressively overcome. The process was developed by New Zealand Steel along a radical route, of feeding the fine grained raw ironsand concentrate and coal directly to the kiln. Contemporaneously with this development of direct reduction, steelmaking process innovations were made that enabled the arc furnaces to operate successfully with the high volumes of acid slag. The further expansion of New Zealand Steel's primary steelmaking capacity to replace the currently imported hot and cold flat rolled products is under consideration. The requirement to produce about 600 000 tonnes of steel slabs will be an opportunity to further modify iron and steel making plant and processes to optimise the economics. The conceptual and preliminary engineering selection of options is described.

Jan 1, 1980

Study on Rational Process Flow Sheet for Beneficiating Low-Grade Cu, Mo, Bi, S, W Polymetallic Ore

Sep 13, 2010

By A B. Christie, R L. Brathwaite

Since the first occupation of New Zealand in 800 - 900 AD, various useful minerals, rocks, and energy resources have been identified and extracted. The Maori prized greenstone for ornaments, tools, and weapons, used argillite and obsidian for tools, and decorated their carvings and bodies with colours made from clays, limonite, and vivianite. They were aware of coal (waro), but are not known to have used it for fuel. Before 1840, visiting whalers used coal from Shag Point to heat their trypots. Mining activities got underway in the 1840s, with the finding of manganese oxide deposits in the Bay of Islands, Kawau Island, Waiheke+ Island, and Taieri Mouth. Secondary copper ore was mined on Kawau Island (1846 - 1869), and native sulphur was exported from White Island to Europe. The discovery of gold at Coromandel in 1852 and a few years later in Northwest Nelson and Otago opened the way to gold rushes in these areas and subsequently in Marlborough and Westland. Mining of alluvial gold evolved through sluicing to the invention of gold dredges; first (1863) was the simple spoon design, but later (1881) large steam-powered bucket-ladder machines weighing around 3800 tonnes were built. Most of the gold dredges had gone by the early 1960s, following a revival in the 1930s, but one large dredge operates today on the Grey River. Other mining events included: underground mining of coal from 1849 and underground mining of lode gold from 1863 in the Coromandel, Reefton, and Otago fields. Most outcropping coal deposits had been discovered by 1870. Building stones were used by the early settlers for construction of houses, churches, banks, public buildings, and some universities from 1836. Aggregate for roads, railway ballast, and concrete, and limestone for cement and fertiliser, and clays for bricks and china have been quarried for many years.

Jan 1, 1993

Improvement of Phosphate Ore Flotation Performance Through Sized Flotation

Sep 13, 2010

By G E. Smith, G N. Lye

Wall control blasting practices are necessary to reduce the impact of blasting on mine faces but can also have a significant negative impact on mine productivity and operating costs. The conventional practice in deep open pit mines is to use so-called trim blasts adjacent to pit walls. To provide burden relief these trim blasts have fewer rows than full production blasts and are fired to a cleared free-face; hence they are termed æunchokedÆ. This practice leads to scheduling constraints on the pit operations and can cause ore dilution due to excessive muckpile movement. The use of such trim blasts stems from the perception that increased wall damage results from æchokedÆ blasts. These concerns are based on the unproven assumptions that blast vibration levels and explosive gas penetration increase with increased blast burden and face confinement. This paper describes work undertaken as part of a major investigation into wall control blasting at the KCGM Fimiston Mine, Kalgoorlie, Western Australia. It details a study to assess damage effects due to blast burden. Borehole air pressure measurements and borehole video camera inspections were done behind a series of single blastholes drilled with varying burden distances, as well as behind a dedicated trim blast and a full production blast. It was found that the measured damage effects, including visible rock cracking, dilation, and the limited extent of gas penetration behind the blastholes, did not vary significantly with burden or blast type for the cases tested. This result was in complete agreement with detailed vibration measurements conducted by Blair and Armstrong (2001) during the study, which found that vibration was independent of blast burden. As a result of these investigations, changes to the blasting practices at the mine were implemented. Dedicated trim blasts and free-face blasting have been replaced by modified production blasts and the practice of æchokingÆ blasts has been introduced. This has resulted in a significant improvement in productivity and cost savings without compromising pit wall integrity.

Jan 1, 2001

By D J. Kilkenny

Work practices involved in shaft construction can be aligned with current industry standard operating practices. However, the working environment during conventional shaft construction introduces unique conditions which can not always be overcome by hard engineering controls. To provide an improved working environment, future shaft diameters will generally be greater than has historically been the case for the Australian hard rock mining industry. This paper aims to explore both what can be constructed from the contractors perspective, and how does an owner extract maximum business efficiency from an asset that in many ways is likely to be larger, more complex and more expensive than initially envisaged.Newcrest Mining Limited, or an associated company, has constructed two major shafts over the last seven years. In both cases, Byrnecut Mining, or an associated company, was the contractor engaged for the shaft sinking activity. The first is the 1127 m deep, 7.0 m diameter production and intake airway at the Telfer Gold Mine, the second is a 295 m deep, 5.5 m diameter split shaft at the Gosowong Gold Project in Indonesia that was primarily designed as both an intake and exhaust airway. Importantly both shafts are designed to provide emergency egress from the respective underground operations.From an Australian shaft sinking perspective, the construction of these two shafts resulted in the following learnings: •constructability is of equal importance to desired functionality;•allow six months of interactive design between the owner/engineer/contractor/regulator to get it right;•shaft sinking and equipping are intimately entwined, therefore engineering of both needs to be complete prior to any activity commencing; and•the mobilisation of both equipment and experienced personnel to a new shaft sink takes up to eight months.Shaft sinking is not extinct in the Australian hard rock mining industry. But, if you are considering constructing a shaft, approach it as a long life asset, front end planning to a high level of detail is required to unlock its full value. Think – plan – think and remember it’s going to take 12 months to get from the whiteboard to firing the first cut.

Mar 21, 2011

Mechanism of Modified Sodium Silicate on Fluorite Ore Flotation

Sep 13, 2010

By D C. Grant, D J. Goudie, E Baird

The Scanning Electron Microscope – Mineral Liberation Analyzer (SEM-MLA) laboratory, as part of the Core Research Equipment and Instrument Training (CREAIT) network of laboratories at Memorial University, NL, Canada, has recently published efforts towards increasing the throughput of automated mineralogy systems by producing single-step trans-vertical moulds, rather than traditional 30 mm polished epoxy moulds. Due to the small particle size of iron ore grains in the -200 mesh size fraction (<75 µm), not all of the surface area on a mould is needed for measurement in achieving good statistical representation. In a new study, trimming of the excess area of a mould results in a smaller sample and increases the quantity of unique samples that can fit in a newly designed trans-vertical adapter for a FEITM MLA 650 field emission gun (FEG) scanning electron microscope. The complete analysis, using a newly designed sample block holder capable of holding 98 samples, required 57 hours of running time where each sample had an average of 33?400 particles measured and identified. The analysis was calibrated to allow for off-line discrimination of hematite/magnetite. The calculated Fe-assay values derived from MLA results were compared to those from bulk sample chemical assay. This shows the Fe assay having a correlation coefficient of >0.99 when the particle count is greater than 20?000. This study represents the most expedient method yet reported to prepare well-polished samples and analyse them in a timely manner that can allow for quicker results in process mineralogy.CITATION:Grant, D C, Goudie, D J and Baird, E, 2017. Analysis of individual - mesh iron ore samples in a single Scanning electron microscope automated mineralogy session, in Proceedings Iron Ore 2017, pp 535–540 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Jul 24, 2017

Kinetic Dependence of Refractory Gold Sulfide Biooxidation Using Different Microorganism Association In this investigation, refractory sulfide concentrate from a deposit located in northern Russia was treated using biohydrometallurgical technology. The objective of this work was to compare the accelerated refractory sulfide concentrate biooxidation abilities of the pure and mixed mesophilic and moderately termophilic acidophiles cultures. Pure culture of Acidithiobacillus ferrooxidans and two associations of the: Acidithiobacillus ferrooxidans + Acidithiobacillus thiooxidans and Acidithiobacillus ferrooxidans + Acidithiobacillus thiooxidans + Leptospirillum + Sulfobacillus were used in this investigation. Results of sulfide concentrate bioleaching were analysed using the enzyme catalysis theory. Different effective kinetics parameters were calculated for Michaelis-Menten equation, such as Michaelis' constant and maximum rate of the enzymatic reaction. It was shown that the increase of microorganisms' species decreased Michaelis' constant. Lower Michaelis' constant characterises increasing bacteria ferment affinity to substrate (treated concentrate). As a result, the rates of sulfide minerals biooxidation have increased. This investigation has demonstrated that cultures of the different microorganism species, including moderately termophilic, allow to enhance different parameters of the biohydrometallurgical technology for the refractory gold sulfide concentrate treatment. We can see that bacterial leaching stage duration decreased and sulfide minerals oxidation increased. When the bioresidues were subjected to the hydrometallurgical stage, which includes aeration and sorption cyanidation, the operation factors were also enhanced. The decrease of aeration duration and the growth of the precious metal extraction by sorption cyanidation was achieved. Cyanide consumption was also reduced. The results of this investigation were used in design of an industrial plant.

Sep 13, 2010

Application of Kriging in Approximations of Grained Materials Characteristics Distribution Functions

Sep 13, 2010

Clinoptilolite as a Low-Cost Solution to Remove Heavy Metals from Water in Mining and Mineral Processing Industry

Sep 13, 2010

Study on Basic Theory of the Grain Settlement in Fluidised Bed This paper takes thick goal grains (less than 1.5 cm) as research object. According to different densities and particle sizes, thick goal grains are divided into 20 kinds of narrow density and narrow size level average grains. Free settling and hindered settling tests are respectively carried out in ?100 fluidised bed thick goal separators. Hindered settlement includes hindered settling velocity test and measurements of suspension density. Results show follows. (1) Fluid state in separator belongs to transition region. Alien's law is the appropriate formula of thick coal particles free settlement terminal velocity. (2) The main factors affecting hindered settling velocity are the number of solid particles in medium and the structure feature of the particle group. The bigger volume fractions of solids ? is, the smaller decreasing velocity coefficient of particle hindered settlement ¯ becomes. In the organism from bottom to top, density of suspended particles in fluidised bed gradually decreases, but near the top of the suspended particles, the density increased slightly. With increase of density and size, suspension density reducing extent increases from bottom to top of separators.

Sep 13, 2010

Technical Challenges in the Flotation of Molybdenite from Porphyry Copper Ores

Sep 13, 2010

By A J. Weston

Block or panel caving technology is far removed from that of the top slicing and block caving of the late nineteenth or early twentieth centuries. The rapid mechanisation and expansion of these methods in the late twentieth century was as much a result of the change of the technology of the unit operations of development, ground support, drilling and blasting and transport as it was of the advances in geotechnical understanding and practice. The small footprint gravity and scraper block caving mines with boundary weakening, rail transport and shaft hoisting of the early to mid-twentieth century have been replaced by massive high lift panel caves using preconditioning of the ore, large load-haul-dump units, adjacent crushers and conveyors to surface. The technology changes in the unit operations are described and the drivers for these changes examined.CITATION:Weston, A J, 2016. The evolution of block caving technology, in Proceedings Seventh International Conference and Exhibition on Mass Mining (MassMin 2016), pp 265–274 (The Australasian Institute of Mining and Metallurgy: Melbourne).

May 9, 2016

Pilot-Plant Testing of Ammoniacal-Cyanidation for Gold Recovery from Copper Gold-Bearing Ore The results of pilot-plant tested ammoniacal-cyanidation of gold recovery from copper gold-bearing ore are presented in this paper. This ore is from a deposit of Russian Federation with gold and copper grade 9.5 g/t and 0.4 per cent, respectively. Copper is largely present as malachite and azurite. The presence of chalcopyrite and bornite is also observed. In order to recover gold, gravity is recommended. Two options of ammoniacal-cyanidation using leaching of gravity tails, CIP and filtration, were tested. It was found that ammoniacal-cyanidation using filtration of leaching tailings and recycled solutions is the most optimal option. The proposed flow sheet provides for 89.7 per cent gold recovery from gravity tailings at the consumption of NaCN 0.9 kg/t and (NH4)2CO3 7.5 - 9 kg/t. Compared to conventional cyanidation, this technology decreases the consumption of sodium cyanide from 4 up to 0.9 kg/t at the same gold recovery. It can be recommended for the treatment of copper gold-bearing ores with the similar composition.

Sep 13, 2010