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Currently there are in excess of 200 companies listed on the New Zealand Stock Exchange and the total market value of all the listed shares amounts to $4.6 billion. The number of listed mining companies stands at nine and with a market value of $35 million accounts for less than one per cent of the total market capitalisation. In comparison, the Australian mining and energy sectors account for nearly 50 per cent of the total market capitalisation, which currently exceeds A$41 billion. Surprisingly the share markets in both countries were primarily founded on the discoveries of minerals last century.

Jan 1, 1982

By R Garzon

For resources projects with healthy net present value (NPV) and low cash flow volatility, conventional discounted cash flow (DCF) analysis will continue to provide the dominant investment decision-making criteria. However, DCF analysis can be biased because it often applies a single risk-adjusted discount rate (RADR) to compare the value of projects with different risk characteristics. Many of the difficulties with DCF modelling arise from analystsÆ inability to determine appropriate risk discounts and to estimate expected spot prices inputs for the commodities produced over the life of the project. Modern asset pricing (MAP) is a very valuable complement to DCF analysis in addressing some of these issues. Most papers dealing with MAP, however, while academically rigorous, tend not to be explicit in terms of practical application of this methodology in routine project evaluation. This paper has the objective of reviewing the MAP methodology and of demystifying its complexity, by providing a simple but realistic step-by-step evaluation of a mining project, comparing its DCF and MAP NPV values. The paper concludes that MAP provides a minimum, risk-adjusted æfloorÆ value, thus representing a valuable complement to any DCF valuation.

Jan 1, 2007

Large mining operations need equipment that consistently performs as expected. The most effective way of ensuring this is to have a defined life cycle with an optimised maintenance strategy. The determination of this life cycle is an economic decision, influenced by the construction and utilisation of the equipment. An effective life cycle costing (LCC) tool must be able to process the many variable factors involved.Many factors influence the costs that are associated with a machine over its life. The most variable of these are the costs of maintaining the equipment. Maintenance costs are dependant not only on the utilisation of the machine, but also on the strategy that has been developed to support the machine through its life. A combination of supplier support, component changes, regular servicing and unscheduled maintenance needs to be modelled, based on a variety of drivers. Traditionally spreadsheets have been used to model these factors, but the increasing complexity of the situation can make spreadsheets unwieldy and difficult to manage. A database solution that breaks each activity into its constituent components, links them to an associated mine plan driver and then aggregates the result is the ideal tool to provide a time based cost profile. The evaluation of a number of scenarios, representing different maintenance strategies/life cycles can be rapidly undertaken. Auditability through inbuilt tools is required to provide easy tracing of data. Use of the host company's account structure allows for reporting against the standard chart of accounts.

Dec 6, 2010

Triboelectrostatic Producing Ultra-Clean Coal

Sep 13, 2010

By M J. Nugus, F Clark, E J. Hill, J T. Carswell, J S. Cleverley, N H. S Oliver

High-nugget gold orebodies are difficult to model in 3D because samples from diamond drill core are generally too small to provide reliable estimates of the gold content of the larger body of rock, and therefore interpolation of gold assay values between drill holes is also unreliable. As a result, gold resources are generally underestimated in areas of high nugget. In practice, proxies for gold mineralisation, such as presence of alteration, specific structures or high vein density, have been used by geologists to predict rocks which are favourable for mineralisation. However, there has been no automated method for combining the predictive capabilities of several proxies, except by human judgement.We have been developing a method to combine several different types of geological features or geochemical analyses into a single measure using conditional probability. Conditional probability provides a meaningful numerical measure for the favourability of rocks for containing high-grade gold mineralisation. This measure can be interpolated in the exploration space, providing a sound basis for a 3D model of the orebody. We have developed this technique using data from the Sunrise Dam Gold Mine, which is a high-nugget orebody hosted in a structurally complex Archaean greenstone belt and which has historically proved to be a very challenging orebody to model.CITATION:Hill, E J, Nugus, M J, Clark, F, Oliver, N H S, Cleverley, J S and Carswell, J T, 2013. Predictive three-dimensional modelling of nuggety gold orebodies, Sunrise Dam, Western Australia, in Proceedings World Gold 2013 , pp 463-468 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Sep 26, 2013

By M Davis

Increasing growth in the minerals industry over the past decade has raised the question of whether the standard of training for new geologists has been negatively impacted. This hypothesis was tested by means of a survey. Factors considered included the quality of training and whether it has changed over the past 50 years, preferred styles of training compared to styles of training received and whether the quality of training provided by a company changed with the type or size of company. Data from 435 survey respondents showed a consistent standard of training, but a significant increase in the level of responsibility allocated to new geologists. Those with increased responsibility also had reduced access to additional support and were often asked to perform tasks for which they had little or no training. New geologists were more likely to receive better quality training in a large company (over 100 employees) that owned the mine or exploration lease. A more structured training program was more likely to provide a higher quality result than those with minimal or no structure.

Aug 22, 2011

By D Cork, R Peet

"Methane is a signifi cant greenhouse gas. Methane is released from coal seams during the mining process, both in surface and underground operations. This uncontrolled release is termed æfugitive emissionsÆ and in underground mines is transferred to the atmosphere in ventilation air, known as ventilation air methane (VAM). The global VAM emissions are over 369 Mt of CO2-e/a (Butler, 2011; US EPA, 2010). Coal mines may abate this VAM or consider abatement should there be a price on carbon. These fugitive emissions are heading towards ten per cent of AustraliaÆs emissions by 2020 (Department of Climate Change, 2011).There are safety issues involved in VAM destruction. Due to the nature of coal, and coalextraction, unpredicted methane spikes above the lower-explosive-limit (LEL) can occur in theventilation air; for example outburst events or ventilation failure. This could lead to a mine fi re ifthe mine ventilation air was connected to a VAM abatement plant and the risks are left unmitigated.CorkyÆs is working with the mining industry to directly address these safety issues. CorkyÆs calltheir technology VAM RAB, which stands for ventilation air methane regenerative afterburner(VAM RAB). VAM RAB utilises the principles of a thermal oxidiser.This paper discusses fi ve independent layers of protection (ILPs) to fi rst stop methane reachingthe thermal oxidiser and secondly prevent the fl ame front from burning away from the VAMRAB. The test work completed or contemplated includes safety integrity level (SIL) assignmentto various vents, barriers and door systems to prevent a fl ammable mixture reaching the VAMRAB, proven rapid response methane monitoring sourced from the petrochemical industry, anddefl agration experiments to test the eff ectiveness of the passive geometry and active engineeringcontrols. These experiments and SIL assessments indicate that it is possible to safely connect theVAM RAB to a working coal mine.Further work is required to upscale the pilot safety work. Refi nement to the design is possible;for example improvement to safety duct controls once trialled at demonstration scale plus thermalenergy capture for power generation or other applications to provide heat. Nevertheless, thispaper shows how safety issues can be managed by a multilayer of protection approach usingvents, barriers and doors, and appropriate thermal oxidiser geometry."

Jun 1, 2012

By I T. Ross

In the last 50 years there have been tremendous improvements in equipment used in development on underground mines. Compressed air powered jacklegs have been replaced by high powered electro-hydraulic drifters on sophisticated drill jumbos and load haul dump units have taken over from small shovels and rail cars.Despite the increase in power applied in key parts of the development cycle, average advance rates have fallen and costs have increased. The factor that is most often regarded as the main contributor to slowing advance rates is increased support requirements. Whilst there is no denying that the drive to improve safety has resulted in the requirement for more bolting and the installation of a skin support (mesh or shotcrete), this is not the only factor.Within the industry as a whole, many of the basic principles of development appear to have been lost over time. This paper looks at a historical case study and discusses some of the features of old development cycles that are no longer in use. This highlights some of the basics that appear to have been forgotten. These may be indicators to what may provide improvements in the conventional drill and blast development cycle.CITATION:Ross, I T, 2014. Development – back to basics, in Proceedings 12th AusIMM Underground Operators’ Conference 2014 , pp 67–74 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Mar 24, 2014

By P Holt, M Allen

On the first of July, 2012, the Australian GovernmentÆs Clean Energy Act commenced. From this point, a price of $23/t of CO2-e will apply to facilities that trip the liability threshold. This first part of this paper concentrates on the mechanics of the Clean Energy Future legislation and how it will be applied to the mining and mineral processing industry.The second part of this paper contains analysis of the data presented for typical mine operations. Methodologies for constructing a carbon strategy are also presented. This will entail determining what the objectives of the carbon strategy are, and defining what the strategic priorities for a business should be. An action plan to address the risks identified from the Clean Energy Act is also developed as part of the strategy.Details such as the advantages and disadvantages of opting into the carbon price scheme for liquid fuels are shown. Other considerations such as the ability to acquire permits through the carbon farming initiative or through overseas clean development mechanism projects are explained.CITATION:Allen, M and Holt, P, 2012. Implications of the carbon price and developing a carbon strategy, in Proceedings International Mine Management 2012, pp 105-114 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Nov 20, 2012

At its Port Kembla Plant, Australian Fertilizers Ltd. manufactures Superphosphate and other Phosphatic Fertilizers.Phosphate Rock is received from Nauru and Ocean Island. It contains water insoluble tri-calcium phosphate, Ca3(PO4), to an average of about 86%.It is crushed to pass a 20-mesh x 26-gauge woven wire screen, and is then treated with Sulphuric Acid to give the product Superphosphate with a water solubie prosphate content of 20.5%, estimated as P205. Sulphuric Acid is made by the chamber process. Three sets of chambers are installed, on,e five-chamber set of timber frame work construction and the other two of more recent date, each with four chambers of steel frame work construction. A fourth chamber set is now being built.Sulphuric Acid is delivered for use. at about 70% H2S04, the strength depending upon the rock used.Mixing - The crushed rock and sulphuric acid are mixed in weighed and measured proportions respectiyely in one-ton batches in revolving cast fron pans, mechanically stirred. The mixture, while still slurry, is run into a closed horizontal concrete cylinder (den) where, with the completion of the chemical reaction, it rapidly sets as Superphosphate.Approximately fifty batches are required to fill a den. When full, the den is opened ana the mass cut out by a revolving cutter. The product is elevated and conveyed to any required position in the Superphosphate storage shed, where it dries and matures.Despatch - As required, the Superphosphate is excavated by a two ton grab and conveyed from the matured "dump" to bagging units where it is disintegrated, screened and bagged at twelve bags to the ton. The filled !Jags are closed by machine and delivered to railway trucks immediately.Mixed Fertilizers - Sulphate of Ammonia, Sulphate and Muriate, of Potash, and Blood and Bone are mixed with Superphosphate and thoroughly incorporated to give different mixtures to meet special plant requirements.

Jan 1, 1938

By M J. Schultz, R L. Rude, D M. Tomko

The US Mine Safety and Health Administration (MSHA) conducted compliance assistance diesel particulate matter (DPM) sampling throughout the underground metal and non-metal mining industry. Based on that sampling, MSHA identified mines that were having difficulty meeting the DPM limit. To provide further assistance, MSHA then visited approximately 60 of the mines that were experiencing difficulty complying with the DPM standard. As part of these visits, DPM exposures were measured and control technologies for DPM were observed and assessed. Controls consisted of ventilation, clean engines, environmental cabs, alternative fuels, diesel particulate filters (DPF) and work practices. The focus of the follow-up compliance assistance visits was to assess control effectiveness and to make recommendations to mines experiencing difficulty in meeting the DPM standard. At each mine visited, the ventilation controls were evaluated, engine emissions were determined for equipment in use, environmental cabs were examined, and operational practices were noted. Additionally, control technologies, including alternative fuels and DPF were evaluated in several mines. A comparison was made of mine and section airflow to equipment particulate indices. Based on engine emissions, horsepower and operating time, the contribution of individual engine emissions to total emissions was made. Environmental cab integrity, positive pressure and air filtration systems were checked and operational practices relating to DPM exposure were assessed. This paper summarises the preference and magnitudes of controls that were typically used or needed for successful control of DPM. Additionally, results of the assessments of alternative fuels (including bio-diesel and water emulsion fuels) and DPF are presented.

Jan 1, 2005

By G R. F Alvear Flores

Mineral resources are becoming more complex in composition and structure making it more difficult to produce clean concentrates for primary metal smelting. In parallel, providing technological solutions to the recycling and recovery of end-of-life materials is becoming more important in moving towards the goal of increasing circularity. The availability of fundamental thermodynamic data and advanced thermodynamic tools greatly assists in evaluating these complexities and their impact on existing and new processes. In addition, it is fundamental to support the economic performance of smelters. This paper describes several examples on how fundamental work can be applied to industrial processing..

Jun 17, 2024

By T O Aspinall

The Australian mineral industry involves a diverse range of expertise and skills. Within that, the mining industry, representing mine planning, mine management and equipment operation, has capital intensive, high productivity equipment and a small but skilled workforce. Continuing education for all personnel in the workforce after formal school courses will be an important contribution towards improving competitiveness. The non-tertiary sector represents a significant proportion of the workforce and requires as much attention as the tertiary educated group. Competency Based Training is now being developed for the mining industry in Australia under the National Training Board and the mining industry is well represented in establishing standards and curriculum. TAFE is a major source of accredited courses but some mining companies are also developing internal courses not necessarily for external accreditation. Articulation of such accredited courses to tertiary mining engineering courses has been considered. The education and training of equipment operators through continuing education requires attention to operating skills, an understanding of the productivity factors under the direct influence of the operator and providing product quality to the customer. The education and training of mining engineers has been widely covered and continuing close involvement of the mining industry is required to ensure well balanced courses in technical and interpersonal skills as well as motivation to continue learning for life. Postgraduate research is a part of continuing education but the mining industry has to continually address the adequate recognition of post-graduate qualifications for the increased technical or management expertise and the development of better analytical and problem solving skills which can be directed towards improving competitiveness. More attention has to be paid to providing adequate financial incentives to attract suitable students, particularly after attaining some experience, and to address their professional career path with a company so they are not significantly disadvantaged by undertaking post-graduate studies. The Chartered Professional Engineer status as provided by The Institution of Engineers, Australia to qualified candidates is being considered by The Australasian Institute of Mining and Metallurgy as a further recognition of a member's specific expertise and competence in mining and metallurgical engineering. Continuing education plays a major part in the maintenance of the expertise and competence required for a professional engineer to develop and also to retain chartered status. Continuing education will be a significant part of the education and training of all the mining workforce towards improving the competitiveness of the mining industry. The major challenges will be the motivation of all towards lifelong learning and the integration of the various programs towards providing the opportunity for a steady and satisfying career progression.

Jan 1, 1994

By D Abbott

Mining in Western Australia places significant economic and environmental responsibility on Government and the mining industry. Groundwater abstraction is regulated by the Department of Water. The Department has recently issued a guideline for Pilbara mines, and this paper focuses on the Pilbara for its examples and studies. The guideline is intended to form the basis for developing a statewide policy, consistent with reporting and assessment policy.With rapid expansion of the mining industry between 2005 and 2008, the groundwater resources in the Pilbara region of the State are under increasing pressure. Significant new management and regulatory issues arising recently include: cumulative impact assessment; disposal of dewatering excess by discharge, sharing or reinjection; life-of-mine approvals and closure planning; closure water quality including metals concentration in pit lakes; and in situ leaching mining methods and their impacts on regional water resources (and change of State Government Policy with respect to uranium mining).

Jan 1, 2009

By J-S Han, J-M Yao

"An EXTENDED ABSTRACT is available for download. A full-length paper was not prepared for this presentation. The Shagou deposit is located along NE-trending faults within the high-grade metamorphic basement of the Xiong’er Terrane in the Qinling orogenic belt. It is a large Ag-Pb-Zn deposit hosted in the Taihua Supergroup and has proven reserves of 1.54 Mt of ore with grades of 767 g/t Ag, 13.24 per cent Pb and 4.31 per cent Zn. The hydrothermal ore-forming process can be divided into early quartz-pyrite, middle quartz-polymetallic sulfides and late quartz-carbonate stages. Four types of fluid inclusions (ie pure carbonic, carbonic, pure aqueous and aqueous) can be distinguished in quartz. Fluid inclusion, hydrogen, oxygen and sulfur isotope systematics indicate that the ore-forming fluids are initially deeply sourced metamorphic water with meteoric water gradually mixed in the later stages. Sulfur isotope data show that the ore-forming fluids originated from both the Taihua Supergroup and the sedimentary successions of the Guandaokou and Luanchuan Groups (CSC) located to the south of the Machaoying Fault. A genetic model of the Shagou deposit is proposed as follows: CSC subducted northward along the Machaoying Fault beneath the Xiong’er Terrane during the Mesozoic collision between the North China Craton and South China Block. Subsequent dehydration resulted in the devolatilisation of fluids rich in CO2. These fluids migrated upwards, reacted with the Taihua Supergroup and formed the Shagou deposit.CITATION:Han, J-S, Yao, J-M and Chen, H, 2015. Fluid inclusion and isotopic constraints on the mineralisation of the Shagou Ag-Pb-Zn deposit, Henan Province, China , in Proceedings PACRIM 2015 Congress, pp 615–618 (The Australasian Institute of Mining and Metallurgy: Melbourne)."

Mar 18, 2015

Detachment of Particles from Bubbles in a Stirred Cell

Sep 13, 2010

By F F. Pitard

The optimization of metallurgical processes requires knowledge of the heterogeneity carried by constituents of interest. The common scenario, almost an industry standard, is to rely on the engineering firm who in turn relies on favorite manufacturers of sampling equipment to provide the appropriate sampling systems in the plant to perform accurate metallurgical accounting. This sequence is flawed from the beginning to the end because everything should be based on a careful understanding of the Theory of Sampling (TOS) by the company project team and their expert who invariably would suggest various approaches and different sampling systems.The necessary progressive and iterative approach should be that the company’s project team (mining or other industries) would do its home work to have a good understanding of the geometallurgy, mineralogy and texture of the ore in each geological unit so consultants and engineers would have the best information to start with. Then a reputable sampling expert would recommend which sampling systems are needed, so the company would require engineering firms to follow pre-established, non-negotiable requirements, and finally select the sampling equipment existing on the market today that is most likely to lead to accurate and precise enough metallurgical accounting.It is the author’s experience that when this necessary progressive and iterative approach is bypassed, sampling systems installed in the plant are likely to transgress the most elementary rules of sampling correctness. Invariably the argument is that the company cannot afford correct sampling systems for metallurgical accounting as suggested in the Theory of Sampling. There is nothing that is farther from the truth when later problems will develop and inevitable reconciliation difficulties with miners and geologists become daily routine with impossible answers; as a last resource the sampling expert may be called to perform a post-mortem analysis.The progressive and iterative approach suggested in this paper should be a due diligence requirement for any bank providing a loan for an important new mining project; anything less is most likely to generate unpleasant financial losses; historical, well-known examples are referred to.CITATION:Pitard, F F, 2015. A progressive, iterative approach leading to reliable metallurgical accounting sampling systems, in Proceedings MetPlant 2015, pp 78–91 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Sep 7, 2015

Technical Challenges in the Flotation of Molybdenite from Porphyry Copper Ores

Sep 13, 2010

By M McCarthy

Over the last six years Mandalay Resources has increased production rates and improved safety outcomes at its Costerfield mine in Victoria, Australia. This mine is an underground operation utilising narrow mining techniques to extract vertical veins, and produces up to 80 000 equivalent ounces of gold per annum, in both gold and antimony value.The operational challenges of narrow vein mining include controlling overbreak when veins being mined are only 300 mm wide. The mine has developed methods and modified equipment to suit extraction of these veins. Productivity improvements over the period have involved development of a stoping method and equipment to suit 1.8 m wide development drives. Over the last five years and during a skills shortage, recruitment, training and retention of personnel has been key to keeping corporate knowledge and skills to execute a careful efficient mining technique to minimise overbreak.Managing an underground operation close to nearby residents has unique challenges. Historically Victorian residents had family members work as underground miners; however, in the current day with few underground operations in this jurisdiction, community knowledge of mining has decreased. The Costerfield Operations are only 100 m from the nearest residence and the company values community engagement, partnership and investment with local Heathcote organisations.The mine has invested substantially in executive coaching of its leadership team early, which has paid dividends in problem solving potential of that team and ensuring the operation delivers on its promises to all stakeholders. The operation has become safer and employees are now more aware of their individual contribution in producing safe, efficient gold and antimony that benefit the whole operation, community and the region.CITATION:McCarthy, M, 2016. Costerfield – a narrow vein case study, in Proceedings International Mine Management Conference, pp 331-338 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Jun 22, 2016

By T Baumgartl, D Mulligan, R Haymont

Mining at the Mt Leyshon Gold Mine in semi-arid north Queensland stopped in 2002. Newmont Australia has recently initiated a thorough post-closure water management study of the site by revisiting the existing information and conducting new water-related investigations. The focus of this paper, which is the first publication on post-closure environmental management of the site, is an overview of the site water quality in view of the sources and spatial distribution of polluted mine water, and also the performance of cover systems in controlling water flux though mine wastes. Since the mine closed the rehabilitation of waste rock dumps and tailings dams have significantly improved water quality in the surface receiving waters. However, the Scats Stockpile, the Heap Leach and Old Plant areas, which can potentially produce acidic waters, enriched with heavy metals and arsenic, are the top management priority. Modelling of the potential transport of contaminants in groundwater needs further investigations. A detailed examination of the waters in seepage sumps showed high concentrations of manganese, cobalt, nickel and selenium, which were previously overlooked. The study also showed distinctive chemical signatures for waters at different locations: the waters draining from scats, supergene materials and waste rocks have distinctly lower pH and higher concentrations of dissolved iron, sulfate, heavy metals, Mg, Mn, U, Se and As. While, the tailings sumps are more alkaline, and are enriched in Na and Cl. The southern tailing sump is characteristically As rich. The waters draining from the supergene materials have higher Cu concentrations. Assessment of the cover monitoring systems showed that although covers pass the design criteria, automated recording of data may ignore any failure of the monitoring system. Recalibration of the moisture sensors not only showed realistic moisture values compared to rainfall data but also showed that the permanently installed system records values that are higher than those of the mobile system. Event-driven recording of data overlooks infiltration events. Besides, with a higher time resolution (daily measurements) the breakthroughs could be clearly detected. Modelling of the water balance in covers is underway and an example is given here. Newmont is currently reviewing water management options and is willing to share the lessons learned.

Jan 1, 2006