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The theme of this paper is the development of-the project feasibility study which includes discussion of the work which is carried out in preparing the project feasibility study, the necessary evaluations and structures that are employed to ensure that not only does the feasibility study itself stand up to scrutiny and is sound, but also that the investment the company is proposing to develop, "the project", is an investment decision which will represent good returns to the company. This theme is particularly relevant when there are competing divisions within the company and only limited cash resources are available to make the correct investment decision. Thus various potential investments may be evaluated against each other to determine which project will be given the go ahead for development. This paper will particularly focus on the various investment analysis techniques that are used and discuss the work that is required in preparing the project feasibility study and specifically the interaction of the project team members and the thought process that must be undertaken to complete the project feasibility study. Finally comments will be made on tax planning issues particularly with respect to taxation of gold production to be introduced in January 1991. Some ideas are presented which may help and possibly improve the financial position of the projects being reviewed. Further, it is suggested that the thought process which goes with the financial engineering aspects of a resource project can be widened to take account of taxation issues and tax planning to ensure the rise of the project feasibility and hence the decision to proceed to development by the project sponsors.

Jan 1, 1990

By Muir DM, Ritchie IM, Gibbons SL

Fundamental studies on the transformations of iron oxides have been carried out and related to the solution conditions in the Becher Process. The results show that a number of iron oxide interconversion reactions occur in the aeration reactor with the products depending on the pH, temperature and oxidation potential of the aeration liquor. It is concluded that the lack of process control in the aeration reactor of the Becher Process significantly hinders the ability to predict and produce high quality single phase iron oxides of a consistent colour.

Jan 1, 1989

How the Australasian and Canadian Codes (VALMIN and CIMVal) approach mineral property valuation is described. Brief comment is also made on the International Valuation Standards CommitteeÆs interest in a global valuation standard for Mineral (Extractive) Industries and the South African SAMREC initiatives to adopt a VALMIN-like Code. The conventional tripartite classification of valuation approaches into those that are Market-based, Income-based and Cost-based is outlined. It is best practice to use as many of these approaches as possible (and as many methods as reasonable in the particular circumstances), given the quantity and quality of the data available on the Mineral Asset (which depends upon the state of development of the mineral property). The use of specific methods must satisfy the basic considerations of logic and reasonableness and the purpose of the valuation. The competence, judgement and repute of the valuer are critical factors, since all valuations are time and circumstance specific. What constitutes æMarket ValueÆ in the different jurisdictions is discussed and definitions are given. Challenges facing the globalisation of a VALMIN-type Code for the international Minerals Industry are the influence of real estate valuers and the US jurisdictional idiosyncrasies. This is mainly due to a fixation on real property rights with a preference for using real estate-like comparative sales techniques (Market Approach) to the exclusion of Income-based approaches; a regulatory reluctance in the US to accept that Resources have considerable value; and the International Accounting Standards BoardÆs preference for Historical, rather than Current Value, accounting.

Jan 1, 2002

The purpose of this paper is to cover in a general way the extent, geology, quality of product, working methods and trials of the coal mining industry. of New South Wales from 1946 to the present day, with particular reference to the Western field.It must be clearly understood that any opinions expressed are those of the author and not necessarily those of the Joint Coal Board.The extent of the Western coal field at the present stage of investigation may be said to be from a few miles east of Katoomha to a few miles north-west of the township of Ulan, the total distance being 150 miles.To the west of a line from the Western Highway from Lithgow through Wallerawang, PortIand, Tyldesley, Ben Bullen, Kandos and Rylstone, there are no signs of coal except for one or two outiiers in the neighbourhood of Portland. To the east of this line the coal-bearing areas extend to the seaboard approximately 80 miles to the east.GEOLOGY AND CHARACTERISTICS OF THE COAL SEAMSThe Western coal measures belong to the Upper or Newcastle series, which have been correlated with the Sciritheru or lllawarra, and the North-western or Gunnedah measures. Being close to the margin of the coal basin the Western measures have an average thickness of only 200 ft. to 500 ft., or approximately one-half of the maximum development of the Newcastle measures. They are underlain by Upper Marine beds which in turn rest directly on Devonian rocks.

Jan 1, 1954

Bio-Oxidation of Arsenic and Stibium Bearing Gold Ores Bio-oxidation of arsenic and stibium bearing gold ores with acidithiobacillus ferrooxidans was studied. The preoxidation results show that the best bio-oxidation technical parameters are the initial pH in the range of 1.8 ~ 2.0, particle sizes under 0.074 mm, temperature in the range of 25¦C ~ 30¦C and rotating speed of the orbital incubator in 100 rpm ~ 160 rpm. The leaching results show that If the ore, of which contain 10.37 per cent arsenic and 36.81 per cent stibium, is not bio-oxidised, gold leaching is only about 41 per cent, after 8 days oxidised, the result is about 76.55 per cent, which improved about 35.62 points. The relationship between gold leaching and arsenic oxidation is direct proportion, furthermore, it needs only partly oxidise and higher gold leaching could be get, for example, gold leaching is over 90 per cent when asenic oxidation is 60 per cent. The results will provide theoretical and technological supports of bio-oxidation arsenopyrite for pretreating refractory gold ores.

Sep 13, 2010

The Aberfoyle Tin Mine lies on a wide sloping bench about 2,000-2,500 ft. above sea level, at Rossarden, 14 miles north of Avoca, in north-eastern Tasmania. The quartz-cassiterite veins were discovered in 1916, but mining did not begin until 1926. Trenching revealed seven small tin-bearing veins within a width of 57 ft. of Palaeozoic slates and sandstones, and it was assumed that the mineralization extended beneath the adjacent cover of Permian strata, but the presence of the main vein system (the 26 Vein System) was not suspected until the Aberfoyle Fault was discovered late in 1928.The mine has now been developed on thirteen levels, to a depth of 1,350 ft. The lower limit of economic mineralization appears to lie at about the ll-level, which is 1,060 ft. vertically below the concealed outcrop of the main veins. Production of tin and tungsten concentrates began in 1932, and to date more than 550,000 tons of ore have been mined for a recovery of 8,856 tons of tin concentrates, and 3,056 tons of wolfram concentrates, valued at approximately £6,500,000.This paper reports part of an investigation undertaken by the Mineragraphic Investigations Section of C.S.I.R.O. to study the mineral composition of the ore in relation to the apparent failure of cassiterite and wolfram mineralization to extend below the present working limits of the mine, and was first issued as Mineragrapnic Report No. 639.GENERAL GEOLOGY:The deposit consists of a series of quartz veins in a northsouth trending sheeted zone, transecting folded slates and...

Jan 1, 1957

The recent paper by Bain (1981) contains an unfortunate, and potentially misleading typographic error. On page 9, second paragraph, Bain states that, "some samples of drill core from the (Candlow) Formation ... contain up to 90 ppm gold and 2 000 ppm arsenic". The gold value should read 90 ppb. In fact, in the original version of the paper (Bain, 1980), the gold value quoted was actually 60 ppb.Bain also refers briefly to some geochemical data which is attributed to me, and which I feel require some clarification.In addition, the paper contains some factual errors relating to the occurrence of carbonate and potential host rocks to Carlin-type gold deposits in the Candlow Formation.

Jan 1, 1981

Owing to the increased consumption of sulphuric acid; Australian manufacturers have, from time to time, been seeking for a satisfactory source of sulphur that would make them independent of foreign supplies.Some years ago a considerable amount of acid was obtained from the roasting of Spanish pyrites. This ore, in 1913 or thereabouts, cost 16s. per ton f.o.b. Huelva, and freight to the eastern seaboard of Australia was about 20s. per ton. As the ore contained 48% to 50% of available sulphur, it was costing roughly 9d. or 10d. per unit, and, in addition, the cinder, after roasting, was a product of considerable value to smelters, containing as it did a high percentage of iron suitable for fluxing, and appreciable values in silver and gold.

Jan 1, 1925

A variety of environmental financial assurance instruments are in use across the globe. This paper reviews some of the more common forms currently used in New Zealand, Canada, USA and Australia. In order to be effective, the form of assurance instrument selected needs to be aligned with a countryÆs specific environmental objectives, geography and political climates and also allow for a healthy investment climate. Industry and Government both have a strong interest in ensuring financial assurance criteria meet these objectives.   Recently Golder Associates have been involved in financial assurance assessments for various mining and quarrying companies across the South Island. Multiple stakeholders and regulatory agencies can make the setting of effective and fair financial assurance criteria a complex exercise for both regulatory agencies and industry.  The author relates experience gained in assessing financial assurance under current New Zealand legislation (RMA, 1991), effectively dealing with issues such as ôdouble bondingö and overviews potential approaches to dealing with transitional issues for historic and existing operating mine sites.

Jan 1, 2006

The mining industry in Australia frequently uses the services of specialist engineering and managing contractors and consultants for a majority of the work required for project development, from feasibility studies to project commissioning. The project owner's prime objectives are to achieve predictability and competitive advantage for their project. As the majority of this work will be carried out by contractors, the effective evaluation, selection and management of these contractors in the most appropriate forms of contracts is an essential ingredient to project success. The first stage to project development should be for the owner to examine its own resources to establish the role that it will fill and thereby identify the role and scope of contractors' involvement. Once the owner has developed this work plan, the selection of contractors and consultants should be structured to ensure that the owner acquires the appropriate expertise and experience to achieve its project objectives. The sequence of selection procedures is: 1. Pre-qualification of prospective contractors according to the owner's adopted criteria, through the use of a pre-qualification questionnaire. 2. Evaluation by the owner tender board according to predetermined mandatory criteria. 3. Preparation of tender documents for submission to qualified contractors. 4. Evaluation of tender submissions by the owner tender board using a pre-determined, weighted matrix of technical and commercial criteria. 5. Final selection and contract negotiation.

Jan 1, 1990

The disasters between 1920 and 1979 in coal mines in Queensland and New South Wales due to underground fire, gas or coal dust explosion or to gas or coal outbursts, have been assessed. The evidence relating to disasters caused by gas explosion points strongly to divergence from safe mining practice as the main cause. There is a need for greater training and education of personnel, closer analysis of gas reports, better monitoring and testing procedures, improved ventilation standards and a policy where safe working practice is actively encouraged. Conditions in the New South Wales occurrences of gas explosion were similar to those at Collinsville, Queensland in that dykes, igneous sills, burnt out coal and faulting were common to all. Information on outbursts indicates that contributing factors were intrusions, depth of cover, fault zones and other geological disturbances, methods of work, pressure and type of gas.

Jan 1, 1982

By Hennessy F. L

IntroductionEvolution of the Present SmelterRoastingFiringHearth SlopeDust HandlingFurnace DetailsSmeltingFurnaceFeed DeliveryPulverised Coal FiringWaste Heat BoilersDust HandlingAir PreheaterReverberatory Slag DisposalConvertingVesselsAir SupplyMatte TappingConverter Slag HandlingPurchased Ore PlantINTRODUCTIONSmelting in blast furnaces commenced at Mount Morgan in 1906, when copper, which interfered with gold recovery by chlorination, became an asset. After various changes in blast furnace practice, reverberatory smelting com...

Jan 1, 1952

Whilst much has been written in past years by geologists, scientists, mining engineers, etc., regarding the well·known and justly notorious anticlinal, or, as they are more commonly known, " saddle" reefs of Bendigo, comparatively little noticehas been given to the synclinal or "inverted saddle "reefs and their relationship with each other. In taking up the question of the synclinal folds, I recognise that it is a large undertaking to confine within the limits of a short paper, and at the same time convey a comprehensive idea of their characteristics, and the importance of their relationship with the anticlinal folds, in the general question of practical mining. However, from a practical point of view I consider the question of great importance, and if an interest in it can be awakened, more particularly among practical men, the object of this paper will be achieved.Before entering into the subject I must briefly state some facts, and perhaps some theories, in respect to the deposition of the Lower Silurian rocks, and their subsequent buckling up, as now seen on the Bendigo gold-field. At the same time, I do not intend to go very closely into the geological aspect of the question, as I wish the paper to be considered as a practical one.

Jan 1, 1902

As this is the first occasion I have had, and probably will be the only opportunity I shall have, of addressing such a large gathering of members and of student members of the Institute, I desire to- express my very deep appreciation of the honour 'you have paid me in electing me to the office of President for the current year. I realise also that such selection is a tribute to the Company which controls operations here, the centre selected for the annual meeting, but nevertheless there is afforded to the recipient a great deal of pride and of pleasure to hold the highest office in what is, in my opinion, undoubtedly the most important engineering society in Australasia.The past year has witnessed an unprecedented and unparalleled event in the history of the British Empire, and I think that we must all feel a wonderful sense of proud patriotism; the whole world was forced to admire the public calm and the dignity which accompanied the change in our Sovereign Ruler, and great tribute is due to the statesmanship of the Prime Minister, Mr. Baldwin. At this time, we should, I think, place on record our prayer, in common with all his people, that His Majesty, King George the Sixth, may enjoy a long and prosperous reign.The meeting at Port Pirie recalls one who did so much for the advancement of mining and metallurgy, especially in Australia. I refer to the late Mr. Delprat, who, as General Manager of The Broken Hill Proprietary Company Limited, had under his control for many years the smeltery in this centre. As you are aware, he had been elected an honorary member of this Institute, as well as of our sister Institutes in England and in America...

Jan 1, 1937

Cessation of mining on the Bendigo goldfield makes it evident that, as the older generation fades away, knowledge of the famous Bendigo saddle reefs will be limited in the future by their written records. It is important therefore that the summarised account by D. E. Thomas (1953) in the Geology of Australian Ore Deposits should not be misleading. Fig. 6 in this article is stated to portray a cross section and longitudinal section through a series of gold shoots in the Garden Gully 300 ft. reef. The gold shoot along the capof the saddle reef is represented as extending down the east leg in a series of prongs, with the tips of the prongs about 50 ft. apart. It is the purpose of this note to indicate that this illustration can be suspected to be a diagram of the old stopes instead of a diagram of the distribution of gold in the quartz.The original sketches of Figs. 6 and 7 in Thomas' account were extracted, I believe, from the field note books of H. S. Whitelaw, years after his death in the late twenties. Whitelaw was stationed in the Bendigo office of the Geological Survey of Victoria, carrying out geological surveys of the Bendigo mines. He was there for many years before the Gold Research committee started its investigations in 1916 and he was acutely aware of the problem attached to the distribution of gold in the reefs. He had felt concern that manyauriferous reefs were being mined without adequate study and record and he decided, as he expressed it to me, to pick up what he could as he went along. There can be little doubt that the diagrams of Figs. 6 and 7 are products of this resolve.Opportunities to investigate gold occurrences at Bendigo were limited before 1916 because the field was operated by Manuscript received at The Institute 18th November, 1960.

Jan 1, 1961

A study of the electrolysis of PbS in molten PbCl2 showed cathode efficiencies which increased with current density at fixed sulphide concentrations, and decreased with increasing sulphide concentration at fixed current densities. The anodically produced sulphur dissolved rapidly in the melt, the rate increasing with temperature and sulphide concentration. Experiments with diaphragm cells, made to determine the relative effects that dissolution of lead and sulphur have on the cathodic current efficiency, demonstrated that dissolution of sulphur was the major contributor to the lowering in efficiency.

Jan 1, 1973

Previous methods for measuring the flow of solids in Jnrdraulic conveying have not considered the important effects of slip velocity and particle concentration. In this paper an extension of the method proposed byShirato et al. (J. Chem. Engng. 'Japan, 1: 164-167) for determining mass flow in a vertical conduit is outlined.The present method consists of measuring' the volumetric flow of the slurry (by a magnetic flow meter for instance) and the density of the slurry in two pipe sections of different diameters. Effects of variation of slip withparticle concentration, not previously considered, are allowed.Problems involved in estimating the density of a slurry from differential pressure measurement are discussed.The major problem is the uncertainties in estimating frictional losses due to the wall in two-phase flows. The greater reliability of a more "direct" technique, such as by 'Y-ray absorption, for measuring solid concentration is emphasized.

Jan 1, 1971

In formulating its strategic plan in 1998 the New Zealand Minerals Industry identified two related critical issues facing it. These are, broadly speaking, the issues of access to minerals; and the perception the public has towards the industry and its behaviour towards the environment. This presentation will report on the Industry's response to the public perception issue. The Industry has, through the NZMIA Council, and its Communication and Website Committees, developed and implemented strategies covering: communication through the print media, and through its website www.minerals.co.nz, a long-term educational outreach programme with schools, focussing on the significance of minerals, their contribution to community wellbeing and the negligible long-term environmental effects of the Industry's activities.

Jan 1, 2000

Advances in Coarse Particle Recovery - Fluidised-Bed Flotation

Sep 13, 2010

By Warren L. J

The effectiveness of shear-flocculation as a method for upgrading simple mixtures of ultrafine (1-11 \lm) scheelite and garnet was evaluated. Statistical methods were used in the design and analysis of the main test program.The stirrer speed, stirring time, and initial weight ratio were all found to have significant effects on both the recovery and grade of the floes produced. The particle sizes also had an effect on the final grade. There were several important interactions between factors which also affected the results. Optimum conditions for shear-flocculation were established, and under these conditions about 80 per cent of the scheelite could be recovered at a grade which depended on the composition of the starting mixture. Starting with mixtures containing 10 and 50 per cent scheelite, the best final grades were between 20 and 50 per cent and between 70 and 90 per cent respectively, the actual value depending on the particular combination of particle sizes.

Jan 1, 1977