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In mineral asset valuation the use of any valuation method requires the input of competent and independent technical professionals. A resource valuation must be as transparent as possible to allow others to assess the validity of their underlying assumptions. Materiality is a dominant factor in all valuations and a valuer should set out the basis for the subjective decisions made in this regard. Any valuation methodology must comply with the requirements of the law, practice notes and guidelines issued by the various relevant authorities and professional bodies. The valuation methodology chosen to value a mineral asset depends upon the amount of data available on that asset and the reliance that can be placed upon those data. Mineral assets generally fall into one of three broad categories, depending upon their state of development, ie whether they are at the exploration, development or operating stage. Naturally there are transition phases. Hence, there are ""Grass Roots"" Exploration Areas and Advanced Exploration Prospects; Pre-Development Projects and Developing Mines; and Operating Mines. The features of each of these mineral asset status categories are described, mainly in terms of the confidence in the contained identified Resources/ Reserves. The various subjective methodologies available for the valuation of ""Grass Roots"" Exploration Areas and Advanced Exploration Prospects -are specifically reviewed. The pitfalls in adopting a ""recipe"" approach are noted. It is the author's view that the Expected Value Method (based on the probability adjustment of the output of a Discounted Cash Flow/ Net Present Value model) has little application in the valuation of exploration mineral assets, so it is only briefly addressed. The methodologies reviewed are listed below. ò Multiple of Exploration Expenditure Method (expenditure based). ò Joint Venture Terms Method (expenditure based). ò Geoscience Rating Methods (eg Kilburn - area based). ò Comparable Market Value Method (real estate based). ò Rules of Thumb (eg $/Resource or production unit; % of in situ value). Some recent Prospectuses are used to provide examples of their misinterpretation and misapplication.

Jan 1, 1994

Better quality at lower cost is today's formula for remaining competitive in a world market. For an integrated steel company, high quality low cost steel production must originate before the blast furnace. In 1979, when U.S. Steel initiated a Quality Management Program throughout its steelmaking operations, efforts began at the coal, ore and flux mines. The objective was to improve the quality and reduce the variability of the critical parameters for steelmaking raw materials, to get the blast furnaces, and subsequently the melt shops, under optimum control. The general details of U.S. Steel's Quality Management Program are discussed and how it was used to promote the desired improvements in steelmaking raw materials. Some of the outstanding results obtained by the cooperative efforts between the mines and the steel plants are reported. The lessons learned by U.S. Steel were through upgrading existing operations and facilities. These principles should now be applied to new projects and the benefits of good quality management should commence from the time new projects are Commissioned.

Jan 1, 1986

By Valenta R. K

A technique is presented for the integrated forward modelling of the three-dimensional structure and the geophysical response of multiply deformed terrains. This technique allows information collected by field geologists and geophysicist to be reconciled by the development of a simplified kinematic structural history of the area. The structural modelling simulates the deformation history of the area in terms of a succession of structural events, such as folds, shear zones and intrusions. The interaction of these events with a starting stratigraphy results in the prediction of the geometry of the structures. By specifying geophysical rock properties for the units in the initial stratigraphy predictions are possible for the potential field anomalies for gravity and magnetics. This approach is suited to a range of applications, and its uses in the modelling of regional structures, testing of geophysical data processing, volume balancing, multiply constrained inversion and training are discussed.

Jan 1, 1995

By K H. Esbensen

The Theory of Sampling (TOS) has contributed significantly to chemometrics by allowing data analysts to become more aware of total measurement uncertainty as total sampling error + total analytical error. This has allowed a new view on, for example, validation of multivariate data models and their performance. This keynote focuses mostly on the reverse perspective: how can chemometric multivariate data modelling be of help in an augmented sampling context? The basic principles of multivariate data analysis are presented and application examples are outlined from several areas in the geosciences to facilitate answers to the question posed, including a geochemical multivariate anomaly concept defined by a multivariate background model. Applications from geochemical prospecting, geochemical mapping, environmental chemistry and anthropogenic outlier recognition are outlined, as are the interdependent relationships between geostatistical modelling (variographics) of singular variables versus linear combinations of a multitude of variables, in chemometrics called scores. The potential synergy between chemometrics and TOS is far from exhausted at this time; much work remains.CITATION:Esbensen, K H, 2014. Theory of sampling in a multivariate perspective – what can chemometrics contribute?, in Proceedings Sampling 2014 , pp 7–10 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Jul 29, 2014

By Wooller R

The 3-D regular block model used for long term mine planning at Hamersley Iron did not fulfil the requirements for short term mine planning in terms of accurate representation of geological structures, contacts and boundaries in the orebodies. A computer model, based on zone plans, is being created as a single orebody model for all phases of mine planning. The zone plan is the primary interface between the geologists and mining engineers. It is essentially a bench plan at mid-bench height showing geological structure, material type boundaries, the grade and physical characteristics of ore blocks. The method allows for the dilution of ore zones by waste material. The stratiform nature of the orebodies allows zones of varying grade to be readily delineated on the plans. The Zone Plan Model (ZPM) is the interface between geological and mine planning computer systems. It is the basis of all mine planning with applications including long and short term mine plans, reconciliations, general ore reserve estimations, pit design and general model enquiries. The system was designed to be user driven. The user has complete control at all times as all computer generated data are fed back to the user who may then elect to override the computer. Various controls were built into the system to ensure model validity and integrity. The system has proved to be invaluable as a tool for users with little or no computing experience.

Jan 1, 1986

By Mould G. R

The paper presents a general background to the subsidence research programme being undertaken by the Department of Mineral Resources and Development in New South Wales. The results of the studies undertaken over the last ten years are summarised. The differences between these results and those obtained by the National Coal Board are discussed. The results of a study carried out on the effect of total extraction beneath a freeway in the southern coalfields are discussed in some detail. The procedures developed for the const- ruction of a 500 mm diameter natural gas pipe- line crossing a number of collieries in the northern coalfields are also outlined. The future direction of the Department's subsidence research programme is discussed.

Jan 1, 1980

The high-shear colloidal mixer is generally recognised as the most efficient method of mixing cement based grouts. Only recently however has this technology been applied to the production of cemented rockfill (CRF) for use in underground mines in North America. Traditionally, paddle type mixers have been used to produce the cement based slurries required for the preparation of CRF. While considerable success has been achieved with these mixers, tremendous advantages are attained with the colloidal mixer. The combined effect of the highly efficient mixing action and the ability to mix low water/solids ratios, allows for reductions in the cement content for a given strength requirement. Cement can also be replaced by cheaper fillers such as flyash, resulting in further cost savings. Although large-scale dedicated CRF batching plants are typical, there is a growing need for mobile plants capable of operating anywhere underground. The compact size and rapid batching speed of high-shear colloidal mixers has allowed them to be incorporated into skid mounted systems capable of producing and discharging cement based slurries onto rockfill aggregate for the production of CRF. In many cases run-of-mine development waste can be used as CRF aggregate with these slurry plants thereby reducing the cost of waste rock removal. These relatively low cost portable plants have now allowed several mines to economically recover isolated pillars and realise positive returns on their investment.

Jan 1, 1998

The paper examines the difficulties encountered by objectors to mining privilege applications. It describes the various involvements of the environmental defence society in the mining controversy and makes some comment on the proposed amendments to the Mining Act 1971.

Jan 1, 1981

By Van Deventer J S J

The first step in the design of a process to treat a possible economic precious metal deposit should be an examination of the mineralogy of the ore. Using this and other initial tests, the extractive metallurgist can design a process to treat the ore. In the field of precious metal metallurgy, little emphasis is placed on the mineralogical information available to the metallurgist. The information is of far more use to the geologist and the mining engineer. Diagnostic leaching was designed to open up the field of mineralogical analysis to the metallurgist. When a mineralogist looks at the deportment of gold in an ore, he is usually looking for an element which is present in parts per million, so that errors in sampling are multiplied dramatically. Diagnostic leaching offers a cheap, simple, practical alternative. In order to determine with which minerals the desired precious metal is associated, a specific mineral is first eliminated using a selective oxidative leach, and cyanidation is used to extract the precious metal (in this case gold and silver) liberated by the destruction of this mineral. The precious metal extracted can be measured in solution to give a fairly accurate record of the amount of the precious metal associated with that mineral. Furthermore, the residue from this first stage can be subjected to another selective acid leach, and the process repeated. The procedure can be varied to suit the mineralogy of the matrix material. At the end of this diagnostic leach the metallurgist is left with a complete record of the deportment of the precious metal. He can now use this information to design a metallurgical flowsheet to treat the ore. Diagnostic leaching is thus an analytical tool which can be used by the metallurgist not only to examine new ores, but also to look at problems occurring at existing plants. The procedure is not only limited to ores and residues but in fact can deal with any type of intermediary product that occurs on a plant. The information gained from analysing an intermediary product can give a useful indication of how well a unit process is working, eg flotation, roasting, etc.

Jan 1, 1992

By Robertson A. D C, Cranfield L. C, Murray C. G

Most base and precious metal mineralisation in the Gympie Province is genetically linked to intrusion of branitoids of Late Permian to Late Triassic age. Most lodes are hydrothermal quartz and quartz-calcite veins at intrusive contacts, within either the granitoids themselves or the country rocks, and commonly associated with dykes. Other types of intrusive related deposits are disseminated porphyry type Cu, base metals in skarns, and Mo in quartz pipes and veins. Although the Late Permian-Late Triassic granitic intrusives can be subdivided in terms of age, it is not yet possible to relate deposits of particular metals or styles to granites of a specific age on a regional scale.Some significant mineralisation is not associated with granitic intrusions. This includes the Gympie goldfield, by far the largest known deposit within the Gympie Province. Gold occurs in quartz veins crosscutting Early Permian volcaniclastic sediments and also in NW striking fault zones. The source of the mineralisation is unknown. Gold and silver also occur in epithermal, disseminated and breccia hosted deposits within Late Triassic continental volcanics. Epithermal Hg mineralisation at Kilkivan may be related to Early-Middle Triassic volcanics.

Jan 1, 1990

By N Strong

Cracow is a high-grade; low-tonnage underground gold mine located approximately 500 km north-west of Brisbane in Central Queensland. It is a steeply dipping, narrow vein, epithermal gold and silver deposit that is accessed via a decline from surface. Cracow is owned by joint venture between Newcrest Mining (70 per cent) and Sedimentary Holdings (30 per cent). The orebodies are 5 m wide on average and the ore is extracted via sublevel open bench stoping. Stopes are extracted to a strike of approximately 25 m before being backfilled with waste. Prior to the introduction of electronics, the mine would remove a small amount of the previous backfill out to create a void, and then begin blasting two to three rings at a time, with the ore being extracted between each blast. This method caused the ore to be blasted onto the waste backfill resulting in dilution of the high-grade ore. It also meant that the extraction of each stope took a number of weeks and numerous blasting events. In the fourth quarter of 2005, the mine struck a geotechnically sensitive stope, where all 20 rings had to be extracted in a single shot or risk possible geotechnical problems that could sterilise the ore. Due to the limitations of NONEL« delay detonators the mine could not fire all the rings in a single shot and needed to use an electronic detonator system to extract the stope. Some unexpected benefits to the mine were increased fragmentation, reduced vibrations, reduced dilution, improved efficiency and improved hanging wall and footwall conditions. After the success of this first electronic shot, the mine has since moved to firing all their stopes with electronic detonators. With electronics the mine has been able to fire much larger blasts, and has in fact moved to firing their blasts in the opposite direction, firing towards the draw point instead of into the waste backfill, thus reducing ore dilution.

Jan 1, 2008

By Wang S

Fragmentation is the basic concern in rock blasting and serves as the main measure of blasting effectiveness. A good estimation of fragment size distribution before blasting is very useful and helpful for selecting the proper equipment for loading, transporting, and crushing rocks. A fragmentation model is presented that is based on a hole by hole analysis and correlates the rock properties, burden, spacing, and explosive column with the blasted volume and fragmentation obtained. The drill bench is divided into three separate areas corresponding to different breakage mechanisms. They are: 1) a main breakage or casting area, 2) a secondary breaking area, and 3) an overbreak area. The boundary of the main breakage area is found from the magnitudes of strains in the stress waves and the tensile strength of the rock. The secondary breaking area is determined by stress wave reflections at discontinuities and interactions between colliding stress waves from adjacent boreholes. The overbreak area is that beyond the main breakage area "where the reflected tensile waves no longer break the rock. This analysis is applied on a hole by hole basis to locate the breaking points. Then connecting the breaking points on each side of a borehole forms the triangle of the main breakage area. This is repeated for the next hole and the remaining area is the secondary breakage area. After the angle and area for each hole are found the Kuz-Ram model is used to predict the fragmentation size distribution for each hole. Then summing up the size distribution for each hole gives the total fragmentation distribution. This analysis has been successfully applied to field tests performed in a limestone bench where the entire spoil pile was screened to determine the fragment size distribution. Knowing the explosive and rock properties the breaking area was found for each hole, the strain and stress values, the breaking point, and angle of breakage (104 degrees). The fragmentation size distribution was then calculated and compared to the field data with excellent agreement.

Jan 1, 1990

By Miskelly N

Construction of the Ranger uranium project located 230 kiss east of Darwin in the Northern Territory commenced in January 1979. Energy Resources of Australia Ltd (ERA) was incorporated in February 1980 to acquire all the rights in the project. The total cost to ERA of these rights was $407 million, made up of $125 million in cash to the Federal Govern- ment and the issue of 125 million $1.00 shares at par, plus a payment of $16 million in cash to each of Peko-Wallsend Ltd (Peko) and EZ Industries Ltd (EZ).

Jan 1, 1983

By K-S Kim, C-Y Kim, D-G Kim

In tunnel construction or other underground construction, a detailed knowledge of the rock mass ahead of the face is essential for both safety and efficiency of work. Many tunnel collapses have been reported to occur because of lack of appropriate information, such as the geological conditions ahead of the tunnel face. One of the methods which can identify rock mass conditions is the application of drill monitoring data obtained from blasting drill holes, which can detect abrupt and unexpected changes in ground conditions, geological structure and the mechanical and physical properties of rock mass. This paper presents a new approach to how drill performance parameters can be used for prediction of geological conditions ahead of tunnel face. The predictions are based on monitoring the drill parameters of instantaneous advance speed, torque and tool pressure. In order to assess conditions ahead of tunnel face, tunnel seismic profiling (TSP) and a horizontal boring investigation were undertaken and the obtained data compared to the drilling data. The predicted results using drilling performance parameters correlated well with geological conditions ahead of tunnel face.

Jan 1, 2008

This paper presents a new idea in field data collection for geological and scientific data. The computer keyboard has been replaced by a barcode wand driving a spreadsheet style editor. To use the full capabilities of computer hardware currently available, geotechnical and geological data can be entered and validated in the field, in a structured format, for later transfer into modem geological modelling databases. An example, using a geotechnical borehole log, explains the principles discussed. The generic nature of the Datcol system is illustrated by the application developed using the Norwegian Geotechnical Institute Rock Mass Classification system. A brief description of a modem spatial relational database is also given with particular reference to underground engineering.

Jan 1, 1993

By Mullens P

Recent advances in technology have allowed many of the problems of directional control of long diamond drill holes to be overcome. Three case histories are presented, from Cobar, Hilton North and Mount Isa Mine, in which careful hole design and the use of wedges and down-the-hole motors have allowed tight directional control of drilling. Substantial savings in time and cost were achieved in all three cases.

Jan 1, 1990

By Harraway DH, Tanner AC

The various circuits tried!at Mount.Isa Mines during the period 1959-1963 to improve the differential%f lotation of galena and sphalerite are reported. The benefits and disadvantages of 'the various circuits are discussed. An analysis of ore charao-beris;ics.and their effect on flotation is followed by the d~soription,of a proposed".cirouit in the process of install-ation.

Jan 1, 1963

It is a privilege for me to participate in this vitally important discussion of The Role of Governments in the Management of Resources. The distinction of my fellow participants is evidence that this event is a matter of extreme importance and attracts international attention. In the management of natural resources, government and private enterprise share awesome responsibilities for the economic well-being of nations. Mining and its relation to the prosperity of nations is almost as old as recorded history. Copper was being mined and extractive metal- lurgy practised at Timna in Israel's southern desert as far back as 4000 B.C., and the rich mines of Laurium not only saved the Greeks from Persian domination 2500 years ago, but also provided Athens with a monopoly of silver in the Mediterranean world. This bolstered the economic power of Athens and led to the golden age of Greek commerce and culture.

Jan 1, 1978

An integrated computer system (the Short Term Mine Management System) has recently been developed by B.H.P. Steel Long Products Division in Whyalla, South Australia for use in their open pit iron ore mines.The system incorporates blast design, comprehensive blasthole data handling, grade coilrol, stockpile scheduling and management and reconciliation within a single, user friendly computer package. The blast design system allows the blasting engineer to design the layout of holes for a production blast using geological information projected from the bench above to aid in appropriate blasthole positioniog in particular rock types. The grade control system allows mining blocks to be designed and evaluated from blasthole information using interactive graphics processes. The handling, storage and reporting of blasthole survey, assay and geological logging data forms an integral part of this system. Stockpiles can be constructed from a number of mining blocks to reach a specified target grade using the stockpile management system. Although not yet integrated, the reconciliation system will reconcile stockpiles back to mining blocks and to the geological model.

Jan 1, 1990

In many mining operations, the truck and loader equipment represents the bulk of the invested capital and the majority of the mine operating cost. The profitability of these mines is therefore critically linked to the efficiency of the truck and loader operations. The various factors which affect the productivity of trucks and loaders are analysed by computer simulation, and the results presented in a form allowing assessment of the importance of each factor on overall productivity.

Jan 1, 1983