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By A J. Cornah

"The mine geologist’s role in classifying ore from waste during grade control represents a critical link in the mining value chain. Any improvement in the ore/waste selection success rate (thus reduction in misclassification) which can be delivered by the mine geologist represents a value proposition. Improvement achieved without additional operating cost (for example extra drilling and sampling) will directly and immediately add value to the mining operation and therefore clearly must be pursued. Such improvement may be leveraged from existing resource drilling data which are typically less numerous but better quality than the grade control data. They are usually excluded from grade control estimates (termed the ‘base case’ approach here) because of the differences in quality.Various specialised geostatistical tools are available to account for differences in precision and accuracy between data sources during spatial estimation. This paper uses a conditional simulation (CS) case study to assess the benefit of integrating resource data into grade control estimates through ordinary kriging (OK) of pooled data sets, cokriging (CK), and ordinary kriging with variance of measurement error (OKVME) when the grade control data are:unbiased but increasingly imprecisebiased and increasingly imprecise. The premise assumed is that the resource data are unbiased and precise.The paper demonstrates that, if appropriately handled, resource data may be used to improve grade control estimates and thus improve ore/waste selection success without additional operating cost. Where grade control data are imprecise but unbiased it is recommended to integrate resource data using OKVME. This re-appropriates kriging weights from less precise to more precise data locations and improves the grade control estimation precision compared to the base case; it consequently provides an improvement in the grade control selection success rate. If grade control data are associated with significant bias, integration through CK is recommended as the biased data are zero sum weighted. CK consequently provides an unbiased estimate with some improvement in estimation precision compared to the base case and consequently improvement in the ore/waste selection success rate.CITATION:Cornah, A J, 2014. Incremental improvement of grade control models using resource data, in Proceedings Ninth International Mining Geology Conference 2014 , pp 387–396 (The Australasian Institute of Mining and Metallurgy: Melbourne)."

Aug 18, 2014

CSA mine, which is a deep level copper operation, located 12 km north of Cobar, NSW, currently uses a top down stoping method, utilising cemented hydraulic backfill (CHF) to fill and stabilise the stoping void thus assisting the extraction sequence. The stope sequence then requires development back through the CHF stope so that the necessary infrastructure for the subsequent stoping, such as raise bore pads can be sited. The primary and secondary support installed in the CHF consisted of 100 mm thick fibrecrete from floor to floor with 7 + 2.4 m long resin support tendons installed at 1.5 m ring spacing. This support system relied on the resin achieving a quality bond with the CHF, and also the fibrecrete developing early structural strength due to the use of an accelerator. In addition to the delays in the excavation turn around time, it was felt that a superior support system could be designed. Such a system was designed; risk assessed, tested underground, and trialled in selective CHF digouts, and eventually signed off as the chosen support method in CHF digouts. This paper discusses the change from a passive support system used in CHF digouts to an active support system using Swellex bolts and weld mesh, which has provided an active support system, that is superior, faster to install, reduced the excavation turn around time and is overall a cheaper support system.

Nov 25, 2010

By R Fanni, D Reid, M Kulessa

Recent updates to Australian industry guidelines emphasise the importance of the assessment of liquefaction potential of tailings. This includes assessment of the cyclic liquefaction potential, and the post-seismic strength of tailings expected to undergo strength loss from seismic loading. Despite this increase in focus, a relatively small number of Australian tailings appear to have been characterised through cyclic and post-cyclic testing. This paper presents the cyclic characterisation of four Australian tailings, consisting of iron ore, lateritic nickel, vanadium and bauxite residue. Material was obtained either from surficial tube sampling or through remoulding samples in the laboratory from slurries. Testing consisted of monotonic, cyclic and post-cyclic tests for each material. For three of the materials, laboratory-scale shear vane testing was also performed to provide a comparison to post-cyclic strengths from direct simple shear.The results indicated cyclic resistances consistent with the results of other tailings presented in the literature. The lateritic nickel tailings provided the greatest cyclic resistance of the four materials tested, followed by the vanadium tailings. This was somewhat consistent with expectations for material behaviour based on index properties. Post-cyclic strengths were seen to decrease as cyclic strains increased, consistent with typical observations in the literature. Following significant cyclic straining, in some instances the post-cyclic strengths approached those obtained through residual shear vane testing. This provides further insight into the strain-dependent nature of post-cyclic strengths for some materials. The implications of these observations on the post-seismic stability condition are discussed.CITATION:Reid, D, Fanni, R and Kulessa, M, 2015. Cyclic and post-cyclic behaviour of four Australian tailings, in Proceedings Tailings and Mine Waste Management for the 21st Century, pp 207–214 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Jul 27, 2015

By S Hall

Mining schools around the world, many unfortunately now closed, were often established to teach the techniques of narrow vein mining and associated processing to students studying part-time while working in the industry. This arrangement ensured graduates (or æassociatesÆ) had a mix of skills and knowledge invaluable to the industry.It is argued that there is still a need to educate students in these narrow vein techniques and that there will be a growing demand for such graduates with a high level appreciation of this type of mining. There is also a need for innovation in narrow vein mining and processing to develop specific technologies and allow the use of techniques applied in æbulk miningÆ to achieve improvements in productivity, safety and economic performance.This paper aims to review the situation with regard to education and innovation in narrow vein mining.CITATION:Hall, S, 2012. Narrow vein education - back to the future?, in Proceedings Narrow Vein Mining 2012 , pp 23-26 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Mar 26, 2012

By Y Pan

The recycling of steel is a crucial aspect of the shift toward a sustainable metals industry. The emphasis on steel recycling through the introduction of the scrap based mini-mill concept is also matched with a desire for greater product quality and reduced environmental impact, which, in turn, has generated important innovations. There have been significant advances in the technology for recycling steel over the last 20 years and this paper will provide an overview of these developments and discuss future directions in steel recycling including scrap management, control of tramp elements, electric arc furnace technology and ladle metallurgy.

Jan 1, 2004

By P Crittenden

Thiess Pty LtdÆs Australian Mining business unit used 7.6 PJ of energy in the 2007/2008 financial year. This represented more than 85 per cent of Thiess Pty LtdÆs total energy use and therefore meant that the Australian Mining business unit is required to conduct energy efficiency assessments and report publicly on the outcomes by December 2008 under the Federal GovernmentÆs Energy Efficiency Opportunities (EEO) Act. Thiess Pty Ltd has a policy commitment to sustainable development throughout its operations. This includes minimisation of its carbon footprint and the Australian Mining business unit has a strong focus on efficiency in all of its operations. It approached the energy efficiency assessment as an opportunity to further improve and build on its energy efficiency and greenhouse gas reduction focus in the business. As a mine contractor, Thiess faced a number of challenges in designing an assessment process that would be both effective and efficient to deliver. For example, unlike most other companies involved in the Energy Efficiency Opportunities program, the energy use associated with the Australian Mining business unit is not fixed to any single geographic location in Australia. Mining vehicles are moved from site to site according to the specific requirements of mine owners and the timing associated with the commencement and completion of contracts. Thiess departed from a traditional æsite by siteÆ based assessment and designed a ærepresentative assessmentÆ approach that involved detailed investigation of data across all sites and a focused assessment on a single site.Data and analysis was an essential part of the assessment and indicators at company, mine and site level were essential in identifying opportunities and tracking progress. Forty-six potential energy saving opportunities were identified and four of these are currently being implemented. The projects being implemented are: payload management, automating mobile lighting equipment, plant idle time management, and turbo idle downtime. The potential savings from the four major projects that have been identified are approximately 150 800 GJ/annum, equivalent to 10 600 tonnes of CO2-e/annum with a simple payback period of less than two years. Beyond the fuel savings however, there are a number of other benefits from the assessment, including operational efficiency, reduced maintenance costs and even a potential reduction in the number of vehicles required to complete the work. The EEO assessment has significantly increased the importance and urgency of energy efficiency and facilitated the sharing of good practice across all Thiess operations. Not only have four projects been adopted for immediate implementation but a further pipeline of projects is available for future possible implementation. This case study describes: how Thiess conducted its assessment including the use of energy data and indicators, the opportunities identified that are currently being implemented, and the lessons learnt and how other organisations can use these to improve their approach to energy efficiency assessments. This case study is a more comprehensive version of a case study developed for the Commonwealth Department of Resources, Energy and Tourism. The assessment results reported in this case study are drawn from the Thiess Energy Efficiency Opportunities Report 2008.

Jan 1, 2009

The Louvicourt Mine is located 600 km north of Montreal in the province of Quebec, Canada. The owners are Aur Resources Inc (30 per cent), mine operator, Novicourt Inc (45 per cent) and Teck Corporation (25 per cent). It is an underground mechanised operation with a total work of 290 employees. Since 1994, the mine production is 11 120 456 tonnes at 3.60 per cent Cu, 1.51 per cent Zn, 26.07 g/mt Ag and 0.96 g/mt Au. At a rate of 4300 tonnes per day 365 days per year. Louvicourt Mine is a copper operation since 80 per cent of our revenue is from copper. The mining method is transverse blasthole stoping, mining primary and secondary stopes. The stope dimension is 15 m wide by 30 m high and 10 m to 80 m long for primary stopes. The secondary stopes are limited at 25 m long. Close to 100 000 metres of production drilling per year is required for 115 mm and 165 mm diameter holes. Backfilling is done with pastefill from the start of the operation in 1994. The binder ratio is 4.5 per cent in primary and two per cent in secondary stopes (80 per cent slag and 20 per cent cement). Development requirement to maintain production was 5000 m from 1996, 1997, 1998, 4200 in year 1999, 3200 m in year 2000 and an average of 2500 m in 2001 and 2002. Typical 6.0 m + 4.3 m, 4.9 m + 4.6 m and 4.5 m + 4.6 m headings. In addition more than 1500 metres of development will be excavated in/under paste backfill before 2004. A total of 60 mobile units are required among which for lateral development (three two boom electric hydraulic jumbos û AC Boomer 322, four electric hydraulic roofbolters û Maclean MEM-928 and AC Boltec PL350 and two anfo loader truck û Dux) and for production (four ITH drills û MTI, one electric hydraulic longhole drill û AC Simba H1357, eight LHD û AC-Wagner ST8-B, 1 LHD ST-1000 and two haulage 30 tons trucks û Dux. The 1 January 2002 reserves are 4.1 M tonnes grading 3.1 per cent Cu and 1.9 per cent Zn at an NSR (Net Smelter Revenue) of $US 53. The operating mining costs were at an average of $US 23 from 1996 to year 2000 and $US 25 in 2001. The operating costs ranged from a low of $US 0.41 per pound of copper in 1999 to a high of $US 0.49 per pound of copper in 1998.

Jan 1, 2002

By M I. Roberts

As Australia’s mining industry painfully retrenches, mining executives and managers strive to remain viable by seeking significant productivity increases directly through process improvement and indirectly by improving leadership and workplace culture, the most powerful determinant of productivity. Culture is the combination of people’s attitudes and behaviour, together with leadership values and focus.Comprehensive new and automated data collection and management systems promise much for improving productivity, yet despite rapid advances in measurement and sharing of data, the use of data can reduce productivity unless behavioural aspects are considered and designed as part of implementation. This is because systems drive behaviour that in turn shapes attitudes to determine culture.Experience from many mine sites and other industries in three countries confirm that the most powerful drivers of people’s behaviour are the Measurement-Analysis-Reporting system and business leadership.This paper discusses fundamentals of practical, statistically valid process measurement, analysis and reporting systems before discussing associated leadership considerations for sustained improvement in safety, productivity, employee retention, leadership, accountability and commercial returns.The key to productivity improvement is improving core processes and important support processes. In turn, the key to process improvement is identifying the major process components and their interaction by measuring and then analysing their variation and level of performance. Understanding variation is often neglected yet is usually highly significant. It is essential that the fundamentals of statistically valid yet practical process and data analysis are understood and incorporated into system design to ensure productive, informed behaviour.The design and use of Measurement-Analysis-Reporting systems influences behaviour most profoundly and determines people’s effectiveness. Behavioural aspects are detailed by focusing on six primary drivers of human behaviour and five basic systems for managing businesses. These are integrated in a seven-step process and productivity improvement methodology that combines statistical, analytical, systems and behavioural factors.The paper includes development, implementation and tracking of a project plan for improving management and leadership systems to drive aligned behaviours. This key leadership responsibility is essential for improving performance to get the most from capital while providing people with the opportunity to develop greater autonomy, which is essential for self-discipline, responsibility, initiative and accountability.CITATION:Roberts, M I, 2015. Integrating measurement, systems and leadership to build safe, productive cultures, in Proceedings Third International Future Mining Conference, pp 73–82 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Nov 4, 2015

By M Berry

Consider these four questions:What is the definition of life-of-mine?When should life-of-mine planning seriously commence?When can life-of-mine planning seriously commence?What is the key input to effective life-of-mine planning?Whilst there is likely to be general consensus on the answers to the first three questions, the answer to the fourth question is open to debate. This author argues that understanding and managing risks and opportunities associated with geological uncertainty is the key input to effective life-of-mine planning, at all stages in the life cycle of a mining project.CITATION:Berry, M, ?2014. Effective life-of-mine planning by understanding and managing risks and opportunities associated with geological uncertainty, in Proceedings Life-of-Mine 2014 , pp 183–190 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Jul 16, 2014

By Akerkar D. D, Dey M. L, Mathur S. B, Chowdhury S. K R

The extraction of gold and silver from chalcopyrite concentrates has been investigated. In view of the recent interest in non-cyanide leachants for gold and silver, one such alternative reagent, namely thiourea, has been employed in the present work. Precious metal leaching was attempted from received copper concentrates as well as pre-oxidised concentrates. Pre-oxidation of the concentrates was carried out by three different methods, namely roasting, pressure oxidation and biological oxidation. After pre-oxidation and leaching of the base metals, the leach residues were subjected to further leaching for precious metal extraction. The results obtained on the extraction of gold and silver from received concentrates as well as pre-oxidised concentrates are presented and the effectiveness of the three pre-oxidation routes employed is compared.

Jan 1, 1992

By D François-Bongarçon

After a review of the progresses made on the liberation factor theory since its inception by Gy (1982), a new and surprising result of great practical importance is presented: the liberation factor. First introduced simply as a number between 0 and 1, then shown to be the ratio of two variances, is now shown to be well approximated by the proportion of liberated mineral.CITATION:François-Bongarçon, D, 2017. Evolution of the concept of the liberation factor and a surprising new result, in Proceedings Eighth World Conference on Sampling and Blending , pp 307–310 (The Australasian Institute of Mining and Metallurgy: Melbourne).

May 9, 2017

By J Lea, D C. Kettlewell

The Carina iron ore deposit lies 105 km northeast of Southern Cross, WA. The area designated the Yilgarn Iron Ore Project (YIOP) is comprised of five prospects along an east-southeast trending greenstone belt that extends from the Helena-Aurora Ranges in the northwest to the Yendilberrin Hills in the southeast, over a strike length of approximately 40 km. The YIOP project encompasses the previously identified iron deposits of Bungalbin, Bungalbin East and Mt Walton. The Carina deposit was discovered by Polaris Metals NL in May 2007. The Carina deposit is located within and parallel to the structurally complex northwest trending Mount Dimer shear zone. The volcanosedimentary Archaean-aged greenstone sequence consists of ultramafic and mafic lavas and flows with interbedded sediments dominated by chert and banded iron formation (BIF). Supergene enrichment processes formed a goethite orebody replacement of BIF sequences within a doubly plunging synclinal fold structure. Mineralised outcrops dominated by goethite form a low ridge 1500 m long, up to 90 m wide and drilled to over 200 m in depth. In the vicinity of the Carina deposit, iron occurrences have been identified over at least a 12 km strike length and the exploration potential of the area is identified as 30 - 40 Mt. Polaris Metals began exploration in the area in 2006. Target generation in the area used existing state geological survey maps and regional magnetic survey data to focus on BIF occurrences associated with major structures. Early field investigations resulted in the identification of a large outcrop of predominantly goethite mineralisation at Carina. Detailed geological and structural mapping was completed, followed by close-spaced reverse circulation and diamond drilling. The mineralisation is predominantly goethite with specular and coarse platy haematite localised along structures that cut the goethite mineralisation. Mineralised zones are moderately vuggy and larger cavities occur in proximity to fault zones that transect the orebody. A capping by a thin veneer up to 9 m thick of canga or ferricrete occurs in places. By December 2008, 178 reverse circulation and 11 diamond drill holes (seven surface holes, four tails) were completed. The current JORC-compliant resource estimate is based on assays from 72 RC drill holes and using a 55 per cent Fe cut-off stands as an Inferred Resource of 27.9 Mt at 58.6 per cent Fe, 1.3 per cent Al2O3, 3.7 per cent SiO2, 0.09 per cent P, and 10.1 per cent LOI. Assaying has recently been completed and will be incorporated into a new updated resource later in 2009.

Jan 1, 2009

By P W. Wypych, D Curry, A P. Grima

The market has become highly competitive for engineering and equipment vendors, who are challenged to reduce costs while improving efficiency and productivity of mine operations through plant improvements and expansions. Although conveyor transfer systems account for a small percentage of the infrastructure cost of a mine, they form an integral part of the process supply chain. Malfunctions or suboptimal performance can result in substantial financial cost from delayed start-up, unscheduled downtime, reduced throughput and increased maintenance costs.Discrete element modelling (DEM) is a powerful simulation method used to virtually prototype and test the performance of transfer equipment throughout a design cycle. When developed and applied correctly, DEM can provide insight into performance that exceeds the traditional analytical methods, especially when dealing with complex ore properties, behaviour and/or situations.Using case studies sourced from the authors’ recent research and industrial project work, this paper will address the industry goal to increase efficiency and productivity as well as the methods available to the engineers responsible for delivering designs that meet the aims of this strategic approach.The main focus of the paper will be the new calibration technology, which has been developed by the authors to generate DEM material models that are linked to real-world properties and flow behaviours via unique dynamic testing and innovative parameter calibration methods. These calibrated DEM material models can be deployed by engineers into their existing workflows, whether it be for feasibility studies, concept or final design, plant troubleshooting or optimisation.This new technology allows engineers to gain greater insight than that provided by traditional approaches to the design of transfer chutes and other process equipment and also allows informed design decisions to be made that meet industry efficiency and productivity requirements.CITATION:Grima, A P, Curry, D and Wypych, P W, 2015. New discrete element modelling calibration technology to facilitate the increased efficiency of ore handling and processing operations, in Proceedings Iron Ore 2015, pp 449–464 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Jul 13, 2015

By R W. Shaw

The MTM Process targets treating lower grade and/or problem concentrates that are not attractive to smelters. The process has been developed at laboratory scale for copper and is based on a related development for zinc that has been extensively developed both in the laboratory and through pilot testing. The basis of the process is novel ammonia-ammonium chloride leach chemistry adapted to give high copper extraction whilst being selective over iron, arsenic and many other elements. The preferred flow sheet depends on location, especially infrastructure and utilities. These impact upon the leach and crystallisation stages more than copper reduction.

Aug 24, 2022

The JORC Code contains a mandatory classification system for Mineral Resource and Ore Reserve estimates for public reporting. The classification is a statement of the Competent PersonÆs confidence in the estimate and an attempt to convey that confidence to the various users of the resource estimate. In general the classification process is either largely subjective, relying on the Competent PersonÆs experience, or relies on statistical measures derived from the estimation process, or is derived from an estimated level of confidence in the outcome. However, the statistical measures may not necessarily relate to the overall confidence in the resource or reserve which must take account of the confidence in the geological inputs to the estimation.In addition to the traditional deterministic interpretation and estimations adopted by geologists, semi-quantitative techniques are now available to improve the estimation of confidence while continuing to involve the Competent PersonÆs experience in the process. Methods for quantifying confidence in mineral resource estimates for advanced projects and operating mines have also been developed.Classification is undertaken primarily as a communication tool between the estimators and the other stakeholders in the process. A brief examination of the stakeholdersÆ requirements is included.

Sep 26, 2011

By I Zh Bunin, V A. Chanturia, V G. Minenko, M V. Ryazantseva, A L. Samusev

A promising source for the extraction of rare metals and REEs in Russia is the eudialyte ores of the Lovozero deposit, which do not contain active uranium components. The eudialyte ore reserves of the Lovozero Massif are considered virtually unlimited and therefore have the potential to become a primary source of a number of rare and rare earth metals. The goal of this study was to comprehensively examine the effect of the parameters of high-power nanosecond electromagnetic pulses (HPEMP) and dielectric barrier discharge (DBD) on the leaching performance of eudialyte concentrate and the selective separation of zirconium and REEs from productive solutions. Using scanning electron microscopy and infrared spectroscopy, the mechanism behind the intensification of acidic dissolution of eudialyte as a result of pretreatment with energy impacts was described. During the HPEMP treatment, weakening and destruction of the eudialyte surface was observed, which at the substructural level is expressed in the deformation and local destruction of Si10O27, Si9MO30 resulting in formation of microcracks. During the DBD treatment, the formation of characteristic defects was observed in the form of imprints of dielectric breakdown microchannels and individual mineral fragments. Pretreatment of eudialyte concentrate using HPEMP made it possible to increase the recovery of zirconium into the pregnant solution of leaching by 3.4–4.3 per cent (from 86.6 per cent to 90.9 per cent) and by 4.1 per cent (from 86.6 per cent to 90.6 per cent) when using DBD. The increase in the total recovery of REEs was 1.2–1.8 per cent (from 87.7 per cent to 89.2 per cent). The effect of pH values, solution temperature, initial concentrations of valuable components on the successive recovery performance of zirconium and REEs from the pregnant solutions nitric from the acid leaching of eudialyte concentrate by chemical precipitation was examined. The possibility of selective separation of the zirconium product and rare earth elements with a zirconium recovery of 99.95 per cent and a REE recovery of 87.5 per cent was established. REE loss with the zirconium product was 8.0 per cent and 4.5 per cent with the spent pregnant solution.

Aug 24, 2022

By P Fuller, A R. Penney

Re-commencement of mining in the Western Zone of Beaconsfield Gold Mine following a seismically-induced rockfall fatality in April 2006 required a change of mining method involving drilling and blasting from specially developed drives in the footwall of the orebody. Broken ore is mucked remotely from ore drives on each level. Support in the footwall drives is required to maintain stability during their development and as stopes are retreated, which increases induced stresses and further seismic events are triggered. The paper outlines the challenges involved and methods used to select the footwall drive support to handle both static and dynamic load demand. The importance of load development in the support system, its displacement capacity, the compatibility of support elements and energy absorption capacity of the support system are highlighted. It is usual in any support selection process to ensure that capacity exceeds demand to create a factor of safety. In this case the demands on the system relate to load, displacement and energy absorption and the support system capacity for each must ensure that appropriate factors of safety for each are achieved. The paper shows how these factors are not independent and that selecting a high factor of safety for load can lead to compatibility problems with support elements in the support system.

Jan 1, 2008

By H Tran

Local communities are undertaking an increased role in mine project decision making processes, associated with growing pressure and expectations from regulators, financiers and the general public. This is particularly evident in international projects within developing economies. Environmental and social issues are often complex. Solutions demand difficult choices and trade-offs between sustainable development dimensions: economic growth, social equity and environmental integrity. Proactive stakeholder engagement can play a critical role in assisting decision-makers in determining the operational reality of sustainable development by jointly exploring project trade-offs between proponents and affected stakeholders. Good stakeholder engagement has other potential benefits, ranging from reduced financial risk due to regulator delays, legal disputes or negative publicity to increasing market share through good public image. Approaches to consultation and disclosure have changed from short-term regulatory based focuses, to longer-term, strategic tools for relationship building, proactive risk management and new business identification. Approaches to consultation form a significant opportunity to contribute to overall social sustainability. This paper discusses, based on authorsÆ experience, the broader concept of stakeholder engagement and its contribution to social sustainability of the mining industry. The focus is on key considerations for an effective stakeholder engagement. Three case studies outline how broad based, proactive stakeholder engagement can contribute to improved operation and overall sustainability. The case studies include: a greenfields project in Ghana; a long-term mine in Australia; and an open-pit mine in Vietnam.

Jan 1, 2009

By K Saito, M Hasegawa

Removing sulfur and phosphorus from molten iron can be expressed by the following reactions, respectively. [S]Fe + (O2-)slag = (S2-)slag + [O]Fe [P]Fe + (3/2) (O2-)slag + (5/2) (FeO)slag = (PO43-)slag + (5/2) Fe(liquid) These equations indicate that desulfurisation and dephosphorisation have opposite oxygen potential conditions. If a small amount of desulfurisation slag not removed is carried over to dephosphorisation process, the reaction of sulfur mentioned above proceeds toward left hand resulting in increasing sulfur content in molten iron. For better understanding of such re-sulfurisation reaction in hot metal pre-treatments, the present study aimed at evaluating the effect of iron oxide on the sulfur distribution ratio between slag and hot metal. To measure sulfide capacities and FeO activities simultaneously at temperatures below the melting point of pure iron, CaO-SiO2-FeO and CaO-Al2O3-FeO ternary molten slags were brought into equilibria with copper-iron-sulfur liquid alloys, and the equilibrium oxygen partial pressures were determined with an electrochemical technique involving the stabilised zirconia solid electrolyte. The experimental results showed that the sulfide capacity increased with an increase in FeO content, and this trend was consistent with the fact that FeO was basic. Although the addition of FeO raised the FeO activity and oxygen potential, the calculated value for sulfur distribution ratio between slag and hot metal increased with increasing FeO content.

Jun 19, 2024

By E C. Holloway

"The financial valuation of mining assets has a number of fundamental differences to the valuation of many other asset groupings. One such difference is that typically, the greater proportion of both the cost and revenue sides of the cash flow are inherently governed by systemic market forces.As a result, the range of outcomes for the valuation of each mining asset is more unpredictable, with higher levels of risk and uncertainty. In contrast, the management function of many other non-mining businesses or industry groups can control at least a portion of the cash flow by maintaining the margin or controlling the sales price. The management teams of mining businesses and operations typically have limited options, and are thus price-takers for both costs and revenues. As mining is an inherently cyclical industry, large, long-life operations can exist through several price cycles, making valuation both subjective and challenging.The outcomes of both static- and stochastic-based valuations, as well as the internal probabilities of the associated cash flow statements, are significantly impacted when the correlations between the appropriate parameters are quantified, modelled and incorporated into the valuation framework. The appropriate parameters for correlation modelling primarily include those that are governed by systemic market forces. Applying this process results in a different risk profile for the asset by allowing the risks resulting from systemic market movements to be more accurately quantified and then objectively minimised. This process also reduces the level of residual uncertainty in the valuation outcome.This paper presents a valuation methodology to pragmatically incorporate this level of valuation sophistication and statistically quantify the associated increase in the level of confidence of the valuation outcomes reported.CITATION:Holloway, E C, 2016. Correlated valuation methodology, in Proceedings Project Evaluation 2016, pp 181–200 (The Australasian Institute of Mining and Metallurgy: Melbourne)."

Mar 8, 2016