Search Documents

Resources and reserves are critical inputs into the determination of an operating mineÆs financial results and balance sheets, but how well understood is this fact. Do the investors, directors, accountants and geologists/engineers responsible for preparing or relying on relevant aspects of the end results properly understand the inputs and outputs and the associated risks that may be established. The first step is to understand how financial reports are impacted. The most obvious, and best known, impact is in the calculation of depreciation and amortisation charges against long term assets. In addition, however, there is a requirement to regularly determine whether asset book values are impaired û this is nearly always performed globally by the preparation of a discounted cashflow model for a mine which is usually based on a mine life as determined from the resource and reserve statement û the particular driver here is normally the short and long term production plans. A key aspect of the short term production plan is that it would normally not assume that the reserve and resource statement implies consistent grade, stripping ratios, etc. However, outside of the early years of a plan, more generic assumptions of these variables are often made in conjunction with the reserve and resource statement. Depending on the timeframe of the detailed production plans, this can have a large impact on a projectÆs net present value. Other financial balances that may also be impacted include restoration and rehabilitation provisions, retrenchment provisions and deferred or equalisation stripping accounts. The age old question of whether all reserves should be used or whether some or all of the resources should be included for financial reporting purposes has never been adequately resolved. It is our view that there should be no prescriptive answer to this question but judgement of all professionals involved in the process needs to be included. Furthermore, the company needs to be able to support their conclusions with well thought out and appropriate answers. This may not be in line with the approach that certain accounting standard setters may be proposing or taking, and this paper will outline the current status of global requirement and the likely future directions. Whether reserves or resources are utilised, does not change the key requirement that those preparing or using reserve and resource statements need to understand key aspects. For example: geologists/engineers do they know how reserves or resources will be used? have they imparted information on variability of key drivers such as grade or depth or dilution? do they know that major financial/business altering decisions may be made based on the analysis? accountants do they understand where the numbers have been derived from and the assumptions that may have been made in their determination? do they understand the degree of accuracy (or inaccuracy) that may exist particularly with resources)? do they understand the history of resource reconciliations and what it may mean for the future? directors do they understand the processes undertaken by the company to prepare the financial report and the interaction between the geologists/engineers and accountants? do they understand the potential sensitivity of results to the input variables? Financial reporting is extremely reliant on the use of the reserves and resources, however, the geologists/engineers, accountants and directors do not always understand the interactions between themselves which may lead to misleading public reporting. More education and communication between various parties is needed.

Jan 1, 2002

By N Hungerford, A Coote, S Doyle, D Henderson, F Della-Pasqua

A systematic, detailed airborne geophysical programme carried out in the Taupo Volcanic Region (TVR) in 2005 by Glass Earth NZ Ltd culminated in the identification of 21 epithermal gold targets. In this paper we present the follow up ground-truthing results from the first target drilled, Tahunaatara (TAH).   The Tahunaatara target was identified by means of a multi-disciplinary integrated approach (ôdata interventionö) that defined and ranked the target as being highly prospective for epithermal gold mineralisation. A follow-up ground resistivity survey over the target area revealed the presence of a ôresistorö buried beneath an extensive cover of recent volcaniclastic material. Geochemical soil sampling carried out in conjunction with the resistivity survey yielded anomalous gold values.   The host unit at TAH consists primarily of flow banded rhyolitic lavas, volcaniclastic deposits and tuffs of the Ohakuri Ignimbrite with small outcrops of silicified bedded breccias forming local topographic highs. Results from the first orientation drill hole show wide zones of intense silicification, clay alteration and mineralisation. Sulphide mineralisation is disseminated throughout the core in association with hydrothermal replacement and also occurs in association with quartz veins and infill in fractures (sulphide-only veinlets as opposed to quartz + sulphide veinlets). Textural evidence from drill core indicates that hydrothermal fluid flow was multi-staged with potential for multi-stage gold, and other elements. The presence of polymictic hydrothermal eruptive breccias indicates a hydrothermal vent system.   Alteration varies from argillic to silicic, with pervasive adularia and vuggy silicification also present. Chlorite is minor and associated with quartz, illitic clay and adularia. Assay results currently available confirm the presence of anomalous gold values in association with zones of vuggy silica deposition and intense silicification.

Jan 1, 2006

By R Byrnes, P Hensley

The outstanding environmental management initiatives undertaken by Novacoal at its Western Main Site near Lithgow in New South Wales over the past five years are detailed in this paper. These initiatives have been based on a combination of proven and innovative investigation and implementation techniques, close consultation with regulatory authorities and full support by colliery management. The results of these initiatives have enabled the colliery to exceed its pollution control obligations from a base well below industry standards. The initial poor condition of the mine was the result of over 50 years of traditional mining which paid little regard to environmental management. The transformation of the colliery within such a short period, with limited capital, is considered a model for the N.S.W. coal industry.

Jan 1, 1995

Separation of Minerals Using Electrical Fields The mineral processing industry requires alternative separation techniques to help deal with rising energy costs and decreasing ore grades. Dielectrophoresis is one possible technology. It uses non-uniform electrical fields to separate particles on the basis of their permittivity. In order to determine its viability, the dielectrophoretic force was measured for individual chalcopyrite particles in ethanol. The measurements were made by attaching the individual particles to glass fibres and measuring how far they were deflected by a non-uniform electrical field. Six sizes of chalcopyrite particles were tested and the force was found to increase as a function of particle radius cubed. The particles were also positioned at different points in the field in order to determine the effect of the electrical field gradient. The force was found to increase with the inverse cube of the distance from the centre of the particle to the pin electrode. With the effect of these parameters fully characterised, the single particle test cell can be used to determine the permittivity of single particles of various composition.

Sep 13, 2010

Truck fires in a tunnel can create heat release rates (HRR) significantly higher than 100 MW. Because of a fast spread of smoke and heat the self-rescuing period is shortened significantly. Furthermore, it was experienced that firefighters are not able to approach the fire because of enormous heat and radiation. As consequence, the fire may spread to adjacent vehicles, which is reported for distances of more than 50 m. Tunnels can be damaged severely by fires and the repair works causes long closing time of tunnels. In addition to direct costs for the refurbishment of the tunnel, further economic losses will occur due to the closure time. Conventional deluge systems in Japanese and Australian road tunnels have been known since the 1960s. During the last years the research work was concentrated in the development of more effective and cost-effective solutions based on water mist technology. Orientating fire tests as well as specifications of minimum requirements were carried out within the European research project UPTUN. This basic work was extended by the safety of life in tunnels (SOLIT) research project, funded by the German government. The scope of SOLIT was not only to study the effects of water mist fire suppression systems in tunnels, but also the interactions with other safety systems, such as fire detection, passive fire protection or ventilation. Furthermore, the integration of active fire suppression systems into a holistic tunnel safety system was part of the work program. Within this research project a large-scale fire test program with more than 50 fire tests, including 25 truck fires with a potential HRR of almost 200 MW, was carried out in the test tunnel of San Pedro des Anes (Spain). Furthermore, a two-week testing and training period with the Madrid Fire Brigade was carried out after the SOLIT program. Two fundamental results were achieved during the fire tests:Primarily, water mist systems are able to control the HRR of fires in tunnels, so the atmosphere will be improved significantly. Hazardous effects of toxic smoke on people will be reduced and due to the reduction of temperatures and radiation, a firefighterÆs approach is improved significantly. Furthermore, the fire spread will be hampered and the thermal load on the building structure also be reduced. Secondarily, due to positive interactions with the ventilation system, the effectiveness of a tunnel ventilation system, longitudinal as well as semi-transversal, is increased significantly. Based on the results of the SOLIT research project, a water mist system was applied into several parts of the M30 tunnels in Madrid. As a basic principle the technical equipment and the methodology of implementation comply with the UPTUN 251 guidance, recommending minimum standards for water-based fire suppression systems in tunnels.

Jan 1, 2008

By W J. Cowie

Several years of operating experience of over 100 gold recovery operations on the West Coast has provided a database from which the basic operating costs of these types of operations can be characterised. Using figures generated from the averaging of plant operating costs throughout the region and financial modelling using Lotus spreadsheets has been developed to analyse both existing and proposed developments. This type of modelling has several uses: 1. Identification of the impact on profitability of changes in management practices, finance costs, operating costs and revenue streams. 2. Project evaluation and planning. 3. Profitability projections for development financing. 4. Troubleshooting with existing operations. 5. Valuation of existing operations and properties.

Jan 1, 1987

Grade control is a real challenge, and better sampling and modelling practices are among the tools that have proven efficient in improving it. Although based on rather trivial examples, this paper addresses the following important issues: How much of a challenge is it? How and to which degree can it be improved? And what kind of economic benefits should be expected in return for the corresponding efforts?

Jan 1, 1999

By B M. Wilson, B J. Turner, S Sinclair, R J. Buerger

The Trident Gold Deposit is centred on the historical Higginsville Mining Centre, between the world class gold centres of St Ives (+15 Moz) and Norseman (+6.5 Moz) in Western AustraliaÆs productive eastern goldfields. It lies towards the southern end of the Norseman-Wiluna Greenstone belt in the Archaean Yilgarn Craton. The current in situ resource for Trident is estimated at 840 000 ounces, with production to date in excess of 500 000 ounces.Trident is hosted primarily within a thick, weakly differentiated gabbro with subordinate mafic and ultramafic lithologies and comprises a series of north-northeast trending, shallowly north plunging ore zones. The deposit comprises two main mineralisation styles; thin, lode-style, nuggety laminated quartz veins (Athena and Artemis) that formed along major shear zones primarily at the contacts between the various mafic and ultramafic lithologies; and large wallrock-hosted ore-zones comprising sigmoidal quartz tensional vein arrays and associated metasomatic wall rock alteration (eastern zone, western zone and Apollo) hosted exclusively within the gabbro.The thin laminated quartz vein lodes are important to the Trident Gold Deposits production profile as they constitute 33 per cent of the metal from only 14 per cent of the tonnes. The delineation, grade estimation and extraction of these lodes require a disproportionate amount of geological and engineering input due to the small scale variability in width, grade and direction. Over time, a robust and thorough process has been developed at the Trident Gold Deposit to understand and then successfully mine these complex mineralised systems.CITATION:Sinclair, S, Wilson, B M, Buerger, R J and Turner, B J, 2012. The mining industry needs to be shaken and stirred, in Proceedings Narrow Vein Mining 2012 , pp 155-166 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Mar 26, 2012

By K Broadley

Risk and dispute resolution are linked. Dispute resolution techniques are brought to bear on a dispute - which is an outcome of a risk being wholly or partially realised. There has been an increasing awareness by business of risk as a component of doing business. There is an accompanying awareness of the need to manage risk - including legal risk. Many companies have undertaken a systematic review of their potential risks and endeavoured to put in place systems to help to avoid or manage risks. A legal risk management program will not prevent disputes arising. However, such a program should prescribe how that dispute will be managed. The management of the dispute will involve consideration of the dispute resolution procedure to be adopted. The most appropriate processes will take into account the practical, personal and commercial considerations surrounding the dispute and be as efficient, cost-effective and user friendly as achievable in the circumstances for the benefit of all the parties. Carrying on business in South East Asia, whether as an explorer or a mining operator, brings additional considerations to bear in legal risk management and the dispute resolution process. A significantly different perspective is required due to the varying nature of the legal systems in many South East Asian jurisdictions. These jurisdictions often have relative uncertainty as to the law. This impacts on the dispute resolution processes and also raises further timing and cost issues. The authors contend that this is all the more reason to endeavour, as practically as possible, to adopt a legal risk management and dispute resolution profile which will provide business with the greatest prospects of maintaining control of the dispute resolution process. This presents a greater chance of a successful outcome to the dispute. In these times of increasing pressures on profitability because of low mineral prices, all costs of a minerals business are being reviewed. In such times, a significant legal dispute may have even greater potential to adversely impact on the companies concerned, together with the careers of the people involved. In this paper possible approaches to managing disputes and a case study a legal dispute in which Freehill Hollingdale and Page were involved are discussed. The dispute concerned an international mining company developing a gold mine in Indonesia and one of its contractors in Indonesia. Described is how that dispute was resolved. This achieved a very satisfactory result for the client - all things considered. Given the æadditionalÆ problems associated with ascertainment and enforcement of ærightsÆ in South East Asia, the longer the parties can retain control over their dispute the better off they will be. For this reason, the authors set out in this paper the main additional dispute resolution tools available - that are appropriate for use throughout South East Asia.

Jan 1, 1999

Lime and cement manufacturing has a proud history in Otago, with the earliest lime kilns appearing around 1849 at Caversham and Kaikorai in Dunedin . At Dunback or Makareao (to be precise) three well-type kilns were built by the government in 1899. In 1909 these kilns were leased to the then Milburn Lime and Cement Company. They erected a large brick Schmatolla kiln in 1909, elliptical in plan and fired by coal gas. The kiln operated up until 1944 before being left derelict. The quarry which supplied the kiln also supplied the Burnside Cement works from 1929 up until its closure in 1988. The quarry was shifted to the top of the hill in the 1950s.

Jan 1, 1992

By H Chen

"An EXTENDED ABSTRACT is available for download. A full-length paper was not prepared for this presentation. The Mesozoic iron oxide-copper-gold (IOCG) mineralisation in southern Perú and the northern Chile coastal IOCG belt have emerged as two of the major exploration targets in the Central Andes in the last two decades. These Mesozoic Andean IOCG deposits formed in two mineralisation epochs, the Middle-Late Jurassic (170–150 Ma) and Early Cretaceous (130–110 Ma), with the major Cu-rich IOCG deposits located in the Early Cretaceous mineralisation belt. The early studies in some IOCG centres support a magmtic-hydrothermal model for both Cu-rich IOCG deposits and broadly contemporaneous Cu-poor ‘Kiruna-type’ magnetite deposits. However, recent evidence from field, geochronology, fluid inclusions and stable isotopes show that in the major Central Andean deposits (eg Raúl-Condestable, Mina Justa in southern Perú, La Candelaria-Punta del Cobre and Mantoverde in northern Chile), the incursion of evaporite-sourced basinal brines or sea water may be a prerequisite for economic Cu mineralisation. Moreover, the Cu-poor massive magnetite deposits could be interpreted as a product from iron oxide melt, with minimal intervention by non-magmatic fluids. Therefore, they could represent two contrasted deposit types and contain little genetic relationships. The different roles of magmatism during the Mesozoic are responsible for the variable mineralisation in the Central Andes, including IOCG, magnetite and ‘manto-type’ deposits. The ore modelling for both the Middle-Late Jurassic and Early Cretaceous metallogenic epochs in the Central Andes are reconstructed.CITATION:Chen, H, 2015. The Mesozoic iron oxide-copper-gold (IOCG) mineralisation in the Central Andes – a refined IOCG ore-forming model in the Palaeozoic Continental Margin, in Proceedings PACRIM 2015 Congress, pp 251–254 (The Australasian Institute of Mining and Metallurgy: Melbourne)."

Mar 18, 2015

The offshore Maui gas/condensate field was discovered by Shell BP and Todd on Services Limited in 1969. Subsequent appraisal drilling and negotiations with the Government led to a development agreement, æThe Maui White Paper' being concluded in 1973. Part of this agreement provided for the Government to take a 50 per cent shareholding in the field. The field is comprised of a double domed anticlinal structure containing two gas reservoirs at depths ranging from 2700 - 3000 m. Water depth is 110 m. The development plan called for two standalone steel platforms to be installed sequentially over a period of some years depending on gas demand. The first platform (MPA) was put in place in 1976 but difficulties were experienced with piling and drilling of the 12 (later increased to 14) wells did not start until 1978. First gas was piped ashore late in 1979.

Jan 1, 1994

Bubble Load Measurements in Flotation - A Critical Review of Current Practice

Sep 13, 2010

By R L. Brathwaite

The orogenic gold deposits wall poster is one in a series of posters on different mineral deposit types being produced by GNS Science to raise awareness of the characteristics of New Zealand mineral deposits and their prospectivity. Orogenic gold deposits are typically quartz vein deposits formed in fault and shear systems at crustal levels within and above the brittle ductile transition zone, at depths of 3 12 km and temperatures from 200¦ to 400¦C. In New Zealand, orogenic gold deposits are found in regionally metamorphosed sedimentary rocks of Paleozoic and Mesozoic age. The deposits in Paleozoic rocks include those at Golden Blocks in Northwest Nelson, Lyell and Reefton on the West Coast, and Preservation Inlet in Fiordland. Quartz veins are developed along shear zones that dip steeply and generally strike parallel to the axes of folding in the greywacke and argillite/slate host rocks, although most are discordant to bedding. The lodes are typically less than 1 m wide and extend an average 200 m horizontally and vertically, but the Birthday Reef at Blackwater, Reefton, the largest quartz vein deposit in Paleozoic rocks, averages 60 cm in width and was mined over a strike length of 1070 m, and to a depth of 830 m. Disseminated gold occurs adjacent to the quartz lodes at Globe-Progress and some other Reefton deposits. The deposits in Mesozoic rocks are hosted in schist of Otago and Marlborough, and schist and greywacke of the Southern Alps. The lodes are typically lensoidal, less than 1 m wide and localised along single or multiple parallel shear zones that generally dip steeply, and are discordant to the schist foliation and bedding. A notable exception is Macraes, where the lodes are developed in the semi-concordant, low angle Hyde Macraes Shear Zone that has a strike length greater than 25 km.

Jan 1, 2005

Zircon producers are often required to lower impurity levels to meet customer specifications as most of these impurities adversely effect the end use. For example, zircon sand in foundry applications needs to be free of any surface impurities (eg clay, gibbsite and goethite) which otherwise could cause sintering or fusion between cast metal and the zircon mould. Light coloured ceramic grade zircon, typically low in iron oxides and titania, is preferred in ceramics applications. The presence of impurities in zircon sands is a problem in the magnetic and electrostatic separation stages of their concentration. Previous work (Aral et al, 1997) showed that impurities in zircon sand concentrates occurred in the form of stains on grain surfaces, discrete gangue minerals and in the mineral grains. The gangue minerals such as rutile, garnet, xenotime, monazite, spinels, ilmenite, and aluminium silicates in the concentrate in some cases (Aral et al, 1997) contribute significantly to the impurity content of the concentrate. A careful hand picking of the impurity grains from a Western Australian zircon sand showed that the impurity content of the concentrate could be lowered significantly as a result of the removal of the surface stained grains and gangue minerals. The hand-picked ædirtyÆ fraction, comprised about eight per cent by weight of the concentrate, and consisted mostly of iron-oxide/hydroxide-stained zircon, silica grains and rutile, and occasionally ilmenite, monazite, gahnite and other (unidentified) coloured grains. The chemical analysis of the remaining æcleanÆ fraction showed that the major impurities (Fe and Ti) were reduced significantly (Table 1). The reduction in the uranium content was about 30 per cent. The other measured impurities, P, Mg, Al, Th, and Ca remained mostly unchanged as shown in Table 1. The contribution of ilmenite to the overall iron content of æcleanÆ zircon was insignificant as it comprised about 0.1 per cent weight of the æcleanÆ zircon. Rutile was the major source of titanium contamination (about one per cent by weight). Recent work (Aral and Calle, 1999) on zircon sand concentrates from the Murray Basin showed that, under the electron microprobe, the bulk of the impurities occurred in the dark back scattered electron (BSE) regions of the zoned zircon grains. The impurity contents of the light BSE regions and unblemished (unzoned) grains were low. The impurity content in zoned zircons has been investigated on single, relatively large, crystals (McLaren, Gerald and Williams, 1994; Smith et al, 1991; Romans, Brown and White, 1975). These studies generally aimed to investigate the incorporation of U in zircon as zircon is used extensively for U-Pb geochronology owing to its relatively high content of uranium. Smith et al (1991) identified a striking difference in composition between the areas of lower (dark BSE) and higher (light BSE) average atomic number in the zoned zircon. Their work showed in particular that the zones of lower atomic numbers contained very significant amounts of trace metals such as Y, REE, Nb, U, Al, Fe, Ca, Ba and, by difference H2O. In this paper the impurity distribution in zoned zircon grains was investigated on statistically significant number of grains before and after a leach treatment. The distribution of impurities was also measured in unblemished areas to compare the results.

Jan 1, 2000

By G R. Howard, G Back

Management of information systems for data collection is essential to maintain data integrity and continuity, and manage loss control on a large world-class mine such as Telfer Gold Mine. This paper aims to describe the individual systems and protocols of geological data capture at Telfer, then focus on Quality Assurance Quality Control data as an example of loss control in practice. Loss control systems are required to provide capacity, flexibility, structure and management tools to enhance data interrogation. The data that have been collected can then provide geological, financial, environmental, and contractual information to optimise management of business best practice. Telfer Gold Mine is a wholly owned and operated subsidiary of Newcrest Mining Limited. The mine is located in a remote area of NW Western Australia, and has been operating for 20 years. Geological data have been collected at Telfer since 1973. The data include drilling, assay, geological, survey, structural and geophysical data. Data management has evolved through many systems with data stored on many different hardware and software platforms. Commencing in 1995, collation, standardisation and validation of the historic data was completed. This has resulted in the first Access based drill hole database incorporating all available drilling data. This drill hole database, now hosted in SQL Server, is the hub for all geology related data management systems. The Telfer Gold Mine Geology Department has developed a series of inter-related database systems in order to manage the core geology business issues. Databases relating to drill hole planning, drill contract management, geological logging, accounting (standard costing, forecasting, invoice reconciliation), quality control (QAQC), and environment rehabilitation have all been developed to manage loss control. Management effort to provide adequate data systems and protocols has driven the system from concept to utilisation. The improved productivity, data integrity and data analysis capabilities provided by the new database systems at Telfer have allowed for greater confidence in decision making. Systems such as the drill hole and QAQC databases, when utilised in the proper manner provide up-to-date data analysis for resource audits and contract negotiations. The loss control systems are essential to maintain confidence in data integrity and hence directly effect the future of mining at Telfer.

Jan 1, 2000

By N J. Welham

This paper reports on an innovative professional development program for school science teachers run collaboratively between the Centre for Sustainable Resource Processing and Murdoch University. Ultimately the initiative aims at increasing the pool of school students with strong science and mathematics backgrounds while highlighting the challenging careers available in the mineral resource sector including the gold industry. The program is unique in that it seeks to develop a network of science teachers who may participate in a series of workshops, short courses and tours over several years. The objective is to raise secondary school studentsÆ awareness of potential careers within the minerals sector by exposing teachers to a real life, hands-on look into the mining and minerals resource industry. Though the program includes the breadth of the resource processing sector, the potential value to gold processing is in developing a greater pool of potential employees. The initiative allows teachers to develop a better insight into the practical applications of the theoretical sciences they are required to teach. The evolution of the program from the first trials with Western Australian teachers to the introduction of the initiative to Queensland teachers are reported on. Additionally, the results of a pilot study involving 40 participating teachers are described. This study used a questionnaire and follow-up interviews to gain quantitative and qualitative feedback from teachers. There is evidence that the professional development program has resulted in teachers acquiring a new found appreciation for the application of the fundamental chemistry and physics they teach within the school curriculum. Also reported are associations between teacher participation in this professional development program and changing attitudes towards the industry in a positive way. Finally, there is some indication that these positive teacher attitudes may result in their students developing a better understanding of the diversity and availability of career paths within this industry.

Jan 1, 2007

INAP was formed in 1998 by a number of major mining companies, with a view to sharing acid rock drainage knowledge and experience, and to coordinate global research on the management of sulfidic mine wastes. INAP is now moving to further strengthen its global role by networking with regional organisations that are active in the area of ARD, including MEND 3/NEDEM 3 in Canada, the ADTI in the USA and ACMER in Australia. The INAP-Regional Organisation partnership will be formally launched at the 6th ICARD.

Jan 1, 2003

The 1999 edition of the Australasian Code for Reporting of Identified Mineral Resources and Ore Reserves (the æJORC CodeÆ) became effective in September 1999 and is the latest revision of a Code which was originally issued in 1989, but which has an ancestry dating back to the first JORC report released in 1972. The modifications introduced in 1999, which are briefly discussed in this paper, substantially improved the document, but did not materially alter the fundamentals of the Code, these being the Mineral Resource/Ore Reserve classification framework and terminology, and the requirements and guidelines for public reporting of Resources and Reserves. Codes or guides similar to the JORC Code exist or are under development in other countries, including the United States of America, Canada, the United Kingdom and South Africa. It is pleasing to note that the 1999 JORC Code has been used as a model by these countries in developing their latest standards, and has been a major influence in the formulating of international reporting standards. The JORC Code is primarily a document covering the reporting of the results of mining companiesÆ activities to the public. However, mining geologists are interested in practical assistance and guidance in carrying out their duties. The JORC Code provides this in four ways. It establishes a framework within which those preparing and publicly reporting Mineral Resource and Ore Reserve estimates must operate, by setting standards for the classification and reporting of Resources and Reserves and for qualifications of Competent Persons. It establishes the division of responsibility between the companyÆs Board of Directors and Competent Persons with respect to the preparation and reporting of Resources and Reserves, and empowers Competent Persons to materially influence how their Resource/Reserve estimates are reported to the public. It provides an extensive, detailed and practical check list of criteria to be taken into account in the preparation of Mineral Resource and Ore Reserve estimates. Finally, it provides a strong measure of due diligence protection in the event of litigation if it is followed with diligence and honesty.

Jan 1, 2000

Miners and explorers in New Zealand are expected to consult with stakeholders, keep out of core conservation areas, and operate a high standard of environmental management and rehabilitation. These requirements are not difficult to meet, but many of the industry's own actions have brought it to a low level of general public esteem in New Zealand. Reasons for this are discussed, drawing examples from the Maruia Society's experiences with the industry since the mid-1980s. The boundary between core conservation areas and other land is not easily drawn, and the Maruia Society has sought to work with the mining industry to promote legislation for net conservation benefit trade-offs. However this initiative was not successful. Today the industry, unlike most other major industry sectors in New Zealand, has no accord with the country's conservation movement.

Jan 1, 1997