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The Government signalled its intention in the Economic Statement on 17 December 1987 to improve the fairness of the taxation system and to facilitate the process of economic adjustment by: removing tax concessions that benefit some taxpayers at the expense of other taxpayers,ensuring that those who can afford it shoulder their fair share of the tax burden,securing a revenue base which will provide sufficient resources to maintain effective social services,reducing artificial protection and concessions that discriminate against some sectors, and encouraging confidence through an economic environment with a medium-term orientation. The Government has clearly stated to all sectors that tax preferences will be phased out and businesses need to look inwardly to their investment policies if they are to survive in an open economy. This paper will address the effect of these Government objectives on the taxation structure for all forms of mineral exploration in New Zealand. The present tax structure will firstly be analysed, in particular setting out the tax advantages available to the industry. The effect of changes to the tax system within the recent past which relate to mineral exploration will then be examined. Finally the paper will address the question of possible future changes, particularly in the light of Government's intention to move towards a tax system which does not provide an advantage for any one sector of the economy.

Jan 1, 1988

Consents Required for Overseas Persons Overseas Investment Regulations 1974 Foreign investment proposals must be reviewed by the Overseas Investment Commission to ensure that these are in accord with national interests. Consent must be obtained from the Commission for: 1. New investment proposals which include: a. An overseas person acquiring 25 per cent or more of any class of share in a company. b. A New Zealand company issuing shares to an overseas person where this will result in that person owning 25 per cent or more of the company. c. An overseas person acquiring business assets for consideration in excess of $100 000. d. An overseas person commencing business in New Zealand. 2. Borrowing in New Zealand: An overseas person must obtain consent to raise funds in excess of $300 000 in New Zealand. 3. Borrowing Overseas: New Zealand incorporated companies must obtain consent to borrow overseas. Current policy is borrowing will be approved where the loan is for a specified fixed term of one year or more.

Jan 1, 1982

New Zealand's Land and Income Tax Act 1954 contains unique incentives for companies engaged in mining certain specified minerals or petroleum. Sections 152 and 153 provide for the taxable income of such companies to be based not on profits made but on dividends paid to shareholders. A significant saving in tax results, particularly where profits are not distributed: but the Act attempts to ensure that undistributed profits are used for further mineral exploration and development. To encourage investment in the mining industry, persons taking up shares in a company mining for the specified minerals or petroleum are entitled to a one-third deduction in respect of monies paid on the shares and used by the company for its purposes; and company shareholders may make loans to the company and write-off such loans for tax purposes to an amount of up to half their taxable income. Maximum utilisation of the tax incentives calls for careful consideration as to whether a mining or petroleum company should be financed by way of loan capital or share capital.

Jan 1, 1971

This paper compares and evaluates the impact of income tax and value-added tax on the decision to explore for minerals or to develop a mine in four countries: Australia, Papua New Guinea, Argentina and Indonesia. Three aspects are considered in depth:- domestic tax rules applicable to mining projects;- taxation of foreign mining investment and foreign providers of expertise;- taxation of project finance (other than equity) from foreign sources.Specific tax issues discussed include tax deductibility of various costs, treatment of tax losses, special tax incentives, comparative treatment of various corporate structures, non-resident withholding taxes, and tax costs of various forms of project finance. The paper also illustrates the comparative impact of income tax on rates of return by means of a simulation of a mining project in each of the four countries. The simulation demonstrates why the highest rate of return may be obtained in Argentina and the lowest in Australia.Relevant features of the income tax systems in each country (at 15 February 1990) are summarized and compared in several tables annexed to the naner.

Jan 1, 1990

By C Caris, K Fowle, M Schmid, E van Wyk, D Schofield, A Squelch, M S. Kizil

This paper has been written collaboratively by members of the International Mining VR Group. It is the first of a series of papers. Mining in the 21st century is a high technology industry that strives to reduce risk and improve safety through the use of improved processes and procedures. This risk reduction process is aligned with the innovative use of technologies often developed for other industries. Computer-based visualisation systems and their content are such innovative technologies, in particular the use of virtual environment systems and mixed reality. A primary objective of developing virtual environment systems and the mixed reality content displayed in them for the mining industry is to allow mine workers and operators to practice mine processes and demonstrate competency in tasks that will be encountered in day-to-day mining operations at mine sites. It is anticipated that providing easy access to virtual environment systems will facilitate the avoidance of high-risk situations through improved knowledge, skills, understanding and decision making. Via virtual environment systems mine workers will also be able to practice infrequent or emergency events and maintain preparedness for such events. Day-to-day mining practices can also be evaluated. The rapid pace of technology innovation and the decreasing cost of simulation hardware and software present a plethora of technology to the uninitiated. This can be confusing. In this paper taxonomy is presented that classifies hardware, what it can display and also content that can be included or displayed on the various computer-based visualisation systems. The taxonomy provides insight into where technology can and may be implemented in the future as virtual environments are a dynamic and evolving technology. The taxonomy should also assist in the decision making process when scoping or selecting technology for a particular purpose.

Jan 1, 2008

The last decade has seen a very rapid development in TBM tunnelling. Some trends are purely technical or economical and others relate more to preferences of different interests. Power levels have more than doubled and thrust levels too. Shield machines are developed to be able to handle harder rock and the open TBMs are made more feasible for `difficult' rock. What is right and what is wrong is more a matter of opinion, but one thing is certain: TBMs now are a useful tool and no longer an experimental work-shop for the enthusiasts.This paper highlights some recent developments and indicates some probable future ones. A few features that have increased the open TBMs' ability to cope with ever harder rock and also to overcome problems with poor rock are discussed in detail, using the Atlas Copco JARVA Mk 27 -the most powerful TBM built so far - as a reference.

Jan 1, 1993

By Zamel G. I, Zenari L. P

Technological developments in modem Tunnel Boring Machines (TBMs) and associated back-up equipment are offering significant alternatives for mining operators to consider, in the selection of equipment for coal mine development drifts, roadways, longwall gate roads as well as metalliferous mining declines and development drives.Greater flexibility in handling variable ground conditions, muck disposal and radius of turn as well as advance rates, are just some of the areas where modem TBMs can accomplish the flexibility that mine operators require to achieve cost-effective developments.Compact TBMs are achieving this acceptance because of the fundamental design of a shielded machine containing electrics and hydraulics within the forward shell, ability to achieve tight radius of curvature and grades, and ability to provide highly flexible support systems to meet all possible ground conditions.However, a single TBM design will not suit all mine developments, as each development method - while having common goals with all mine developments - will also require certain unique criteria to be fulfilled.

Jan 1, 1993

By P B. Card

"The website www.economicevaluation.com.au, which had its origins at the Project Evaluation Conference 2009, provides a free way for industry professionals to teach themselves economic evaluation. At its core is a set of fast-moving modules and three worked examples.The website recognises that economic evaluation is a discipline with a hierarchy of three levels:decision-makingevaluating the project/businesshands-on modelling.There are a set of modules for each level that describe the concepts and activities in detail. These emphasise that the most important and rewarding work is the evaluation of Level 2. The economic model created in Level 3 is merely a working tool and should not become a sophisticated ‘trophy’ in Excel that only one or two people can comfortably use.Hands-on modelling contains three sets of practices designed to make any model rigorous and intuitive so that it can be easily understood and used by others in the project team. Even if the model develops into a long, detailed and complex workbook, it should remain easy to follow and be intuitive. The website advocates freedom to devise any architecture that best suits the project under study, but promotes rigour through the following practices:four cash streams and graphsthree architectures – concept, prefeasibility and feasibilitysix principles.The modules in the Level 2 evaluation use conversational language to describe in detail the broad range of activities needed to properly understand and characterise a project/business. It stresses that net present value is nothing more than the mathematical treatment of a whole set of opinions, is not an absolute truth and is only a fraction of the evaluation process. The modules describe in detail the range of economic metrics that should be computed and the full spectrum of equally important characterisations required to make the decision in Level 3.CITATION:Card, P B, 2016. Teach yourself economic evaluation, in Proceedings Project Evaluation 2016, pp 160–171 (The Australasian Institute of Mining and Metallurgy: Melbourne)."

Mar 8, 2016

By Robinson KJ

Education in Australia now has to respond to a very wide political and policy agenda. The political emphasis is upon increasing participation and retention rates with a view to greater graduation rates in `high-tech' disciplines. There is an implied linkage between `education' and `economic well-being'. Our argument is that equalitarianism in education tends towards mediocrity. In this context many Geoscience educators view the future with pessimism. The argument is that science has been `sold short' and needs revitalising. We contend that Geoscience coursework should be a feature of both secondary and tertiary education in Australia. To this end we propose six policy initiatives to increase the content of Geoscience in education programmes.

Jan 1, 1989

Project delivery in our current market is not as efficient as it could be. Industry at large (both client and consultant), is diligently following the engineer, procure, construct, manage (EPCM) or engineer, procure, construct (EPC) delivery models and not necessarily appreciating the underlying principles that make them the effective tools they were to start with. We often misinterpret project management with EPCM and end up with a literal and superficial interpretation instead of the disciplined risk reduction and business value capture exercise it is intended to be. One of these underlying principles is the project team as resource or commodity depending on which perspective we follow. Some of us understand this principle only too well and succumb to the temptation to take advantage of the imbalance in the understanding of EPCM by selling bodies and hours. Value and return on investment do not always come into the equation. The latecomers and aspirants are struggling with this as a barrier of entry into this lucrative market, since as we all know - people as commodity was becoming and still is a scarce resource. Clients are also waking up and asking why 1000 engineers on the floor are better than 100, when engineering design in all aspects of industry, new technology aside, is mature. Why is it that we start with a clean sheet of paper with every project or that neighbours in the same industry segment and location just happen to have completely unique conditions and circumstances that require totally original design (Local conditions aside)? The answers to this question appear when we explore the role of the project team and how it is structured. We will need to investigate team culture and levers for success. Then we will formulate a business case for a team to be able to follow traditional project management practices with EPCM delivery models but yet end up with an alternative look, feel and result. An outcome where more input is not necessarily better and the client and consultant both are aligned with success measured in dollars and a win-win outcome for both parties.

Jan 1, 2009

Two years ago I was sitting in a big lecture theatre at the School of Mines in Kalgoorlie at the annual New LeadersÆ Conference listening to a guy tell us all how much he loved his job, travelling the country ælegallyÆ blowing stuff up à and getting paid to do it. I would have paid to see and do the things he spoke of à now IÆm that guy. From finishing a mining engineering degree at the University of Ballarat, through the job hunt, to firing environmental blasts in Tassie and designing and implementing construction blasts in the middle of the Gold Coast. My name is Rohan Stevens and IÆm a blast-o-holic. While the æjob huntÆ we all embark on toward the end of our degrees is a stressful time, itÆs also very exciting in the current climate. There are a number of things I have learnt through both my hunt for the job that best suited me and working for the worldÆs largest explosives manufacturer. If at least you donÆt benefit from my learnings IÆm certain you will enjoy hearing about (and viewing) some of the work I have had the opportunity to be involved with over the last 18 months with Orica Mining Services.

Jan 1, 2008

Currently there is considerable interest in the production of DRI in Western Australia to take advantage of intense interest from the Asian market. Most DRI is produced using gas-based processes and is used as a feedstock in electric arc steel furnaces, otherwise known as mini-mills. This paper critically examines the technical and economic issues of various gas-based DR processes available today and recommends the most effective and attractive processes suitable for Western Australian iron ores.

Jan 1, 1996

By Wharton P, Voigt R

In order to do the discharge estimation better, it is valuable to find out appropriate formulas for estimating discharge in various pits, based on accumulating data, summarizing discharge patterns applying optimum seeking method and principle, by seeking redical exponent with help of the method of exhaustion, as well as testing and making statistics, in accordance with the quality standards established by our practical experience.

Jan 1, 1988

By Vernon PN

The Eossing Uranium Mine is a high tonnage low grade open pit operation using acid leaching for uranium extraction and ion exchange and solvent extraction for solution purification. Advanced technology, much of it computer based, has led to major economies that have contained operating unit costs over the last four years in the face of double figure inflation. An improved ore reserve block model and mine planning system have achieved a considerable reduction in the stripping ratio. Drilling and blasting costs have decreased some 25%, mainly by the introduction of heavy ANFO explosive. A centralised computer control centre for the metallurgical plant has increased labour productivity resulting in improved process control. The all-staff workforce is united with management in the objectives of creating a safe, healthy, working and living environment and a prosperous company, capable of contributing to the wellbeing of the nation and the shareholders. This situation has been brought into being by an equal opportunity policy coupled with a management system emphasising open two-way communication through all levels in the organisation. The success of this policy is highly apparent in the morale and productivity of the workforce.

Jan 1, 1986

By McCarthy PL

Widespread interest in reopening Victorian gold mines, regenerated by increased gold prices, has highlighted the technical problems prevailing. A combination of historical lease legislation, minimal recent mining activity, forms of mineralisation, high insurance rates and tortuous approval requirements for mining mean the potential investor assessing an old mine must address a wide range of technical problems. The requirements for establishment of ore reserves and attraction of capital for mine development are fundamental. Underground reef mining was historically generally on a small scale, and as mining on many fields ceased about the turn of the century, past geological and production records cannot be correlated to personal experience and comment. The impact of modern mining technology on future reef mining will be to reduce operating costs and significantly improve historic metallurgical recovery. Roth these are commensurate with increased capital costs. Workers compensation rates currently applicable in Victoria are many times higher than in other states, adding significantly to operating costs. Establishment of a pilot plant testing facility in central Victoria would provide an invaluable service in treating bulk samples essential for grade and recovery assessments of Victorian ores.

Jan 1, 1982

By Mitchell G. W, Purvis A. H

The Lady Loretta silver-lead-zinc deposit lies north of Mount Isa in folded and faulted Proterozoic carbonate sediments. The deposit was discovered in the late 1960's as a result of a soil geochemical survey. Subsequent surface drilling outlined mineralisation folded into a synclinal structure extending to a depth of 460 m and containing exceptionally high grades within the keel of the syncline. Pancontinental Mining Limited and Outokumpu Oy of Finland acquired the property in 1985.

Jan 1, 1988

By Bell MG

At various decision points in the development of a project, a developer, joint venture partner or financial institution may require an independent review of the basic assumptions and technical aspects of the project. This type of review or technical audit is becoming a more common feature of the project development process. This feature has evolved because of the need of investors and lenders to be more confident of the viability of a project by the confirmation of its technical and cost aspects. Technical Audits offset some uncertainties introduced by the combination of longer development periods for, projects and the highly dynamic world economic scene. This paper reviews the place, nature and process of the technical audit by examining the circumstances when it might be needed, the typical scope of work or brief, the responsibilities of and relationship between the auditor and the client, and the auditing procedure. Detailed aspects of technical audits are discussed followed by a case study of the Hail Creek Coal Project Audit.

Jan 1, 1983

By M S. Tuohy

Poorly judged or under-appreciated change plays a role in many major accidents. In particular, operational changes related to continuous improvement, maintenance and introduction of new technology can lead to unintended safety (and other) consequences. This paper provides an overview of the role of management of change in preventing unwanted impacts on safety, community relationships and the environment. It draws on a range of incidents covering mining, minerals processing, refining and smelting where inadequately assessed or ineffectively implemented change led to significant safety, environmental or community consequences. The paper will also highlight cases of well-managed complex change and the underlying model of decision-making in place to make those decisions. All these examples are drawn from Atturra’s experience in response to accidents or working with sites to improve their management systems. The paper will report on the challenges of applying conventional risk assessment approaches to complex or technically significant change. These typically result in either onerous and lengthy change procedures that are prone to workarounds or poor implementation. Conversely, ‘light touch’ or efficiency driven change processes present the risk of intended consequences by failing to bring appropriate expertise to bear in decision-making. Such balances can be resolved by considering the designation of ‘technical authority’ with appropriate expertise to consider the change and deconflict any production, cost or schedule trade-offs. Finally, the paper will reflect on the key components of management of change systems in the context of major accidents, highlighting good practice in how they are implemented. This will consider the integration of existing corporate processes, risk management and organisational structures into management of change systems, not just the content of change forms and procedures.

Apr 16, 2024

By A Winchester, D Grant

The massive 1100 Orebody in Mount IsaÆs X41 Copper Mine has been extracted over the last 40 years form north to south utilising sublevel open stoping methods.De velopment has continually stepped ahead of production to provide access to new primary stoping blocks. The remaining secondary pillars contain stopes with one, two or three fill mass exposures and were constrained by access requirements and stope extraction turnaround time.The remaining southern mining areas consist of large 40 m wide by 300 to 400 m long east-west transverse pillars that have been left to provide access for ventilation and service requirements. Three large transverse cross-cuts or transverse pillars û 4180 x/c, 4010 x/c and the Panel pillar now remain. The 4180 x/c was the last major transverse pillar to be successfully broken.This transverse pillar is being extracted in a retreating sequence, creating 3SLOS stopes due to the surrounding backfilled stopes.In recent years the extraction of the first, and most critical, stopes in the transverse pillars have resulted in large changes to the induced stress field. This paper describes the extraction of the 1.1 million tonne stope P418 in the 4180 x/c pillar.T echnical challenges that were faced and how they were overcome to allow for the successful extraction of the stope are described.Critical to the success of the P418 stope extraction were the rehabilitation methodology used; extraction strategy modifications to address deteriorating ground; mass firings with multiple directional changes; managing the exposure of backfill of variable strengths; and geotechnical monitoring prior to, during and after extraction.

Jan 1, 2005

By J McNee

Pike River Coal Limited (PRCL) is developing the Pike River Coal Mine in the Paparoa Ranges of New ZealandÆs South Island. The mine is being developed to extract a coking coal deposit of the Brunner Seam, some 46 km northeast of Greymouth, using a combination of continuous miners, road-headers and hydraulic extraction.   The mining area is located within Department of Conservation (DOC) land and is adjacent to the escarpment of the Paparoa Range and the Paparoa National Park. The mine will use its elevation advantage to hydraulically flume coal from the working faces to the pit bottom area where it will be slurried to approximately 35 per cent density of solids and pumped down a slurry line to the coal prep plant some 10.5 km down the Pike River Valley. The coal will be sold on the export market as a high quality coking coal for international steel making.   PRCL faces significant challenges to achieving the goal of cost effective production. The remoteness, high rainfall (greater then 6 metres per year on average), temperature variation and restrictions on access to this subalpine environment have driven the project to develop some distinctive solutions. These include the establishment of survey control in such a difficult environment with vertical and sub-vertical rock faces, significant vegetation and steep slopes by using helicopter survey, aerial photography and LIDAR (Light Detection And Ranging) aerial survey. PRCL has also commenced designing the placement of the main ventilation fans in an underground chamber in the stone drive.

Jan 1, 2007