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By Wayne Phillips, Anatalia Silva, Robert Henderson, Tondo. Luis

"Kinross’ Paracatu Mine has 20 years of operational success as one of the lowest grade milloperated gold mines in the world. At year end 2005, Paracatu’s Proven and Probable Reserves were 1.18 billion tonnes at a grade of 0.40 g/t Au, containing a total of 15.2 million ounces of gold.In 2005, the plant processed 17 Mt of ore and produced 180,519 ounces of gold at a cash cost of US$274/oz. An investment of US$470 million has been approved to expand production to 61 Mtpa in 2009 which will extend mine life to 2036. During the period from 2009 to 2013 the project is expected to produce an average annual output of approximately 557,000 ounces of gold at an average cost of sales of approximately $230 per ounce.The soft, friable ore containing readily leachable gold associated with sulphides lends itself to simple processing. The process flowsheet consists of crushing, grinding, gravity recovery, flotation, concentrate leach and carbon adsorption to produce bullion bars. This paper describes the current operation, the deposit’s unique metallurgical features and the future expansion plant that has been designed to optimise recovery of gold.INTRODUCTIONRio Paracatu Mineração (RPM), a wholly owned subsidiary of Kinross Gold Corporation, operates the Paracatu mine. The mine is located in Brazil, 230 km south west of Brasilia in the north west portion of the State of Minas Gerais. The city of Paracatu, which has a population of 83,000 people, is just 2 km south of the mine."

Jan 1, 2007

By Victor Azbe

Introduction Lime enters our daily life in many ways. Our building, chemical, agricultural, sanitary, and industrial endeavours depend on it to such a great extent that it could probably be called the most important inorganic chemical, and the extent to which it is used might be considered an index of industrial development. Industrial limes vary greatly in quality, due to internal structure and other characteristics. They may be good or bad, sensitive or slow to react. While improper manufacture may not greatly alter the appearance of the lime, it may affect its properties considerably and thus its suitability in the many processes in which lime is used. In some of the processes, one kind of lime is wanted, in others another. While the nature of the stone from which it is made has much to do with whether a lime is suitable or not, its burning and hydration are the crux of the matter. Up to not so many years ago, the knowledge of lime burning was rather imperfect and it is only relatively recently that its manufacture is approaching the state of a higher industrial art. This slow development was in part due to lime manufacture being scattered among many small concerns who, independently, either lacked the inclination or could not afford to strive for a higher technical development.

Jan 1, 1946

"In a continuing investigation into the development of uranium alloys for armament applications, some complex base alloy corn positions were modified by varying the amount of alloying elements and by removing one or two of the alloying elements in turn from the base alloys. These uranium-base alloys were specially formulated in a search for heat-treatable, high-strength, ductile, high-density alloys. All alloys studied were ternary, quaternary or more complex alloys of uranium with molybdenum, zirconium, niobium and vanadium. Each cast alloy was studied under three different heat-treatments, and its mechanical and corrosion properties were determined. It was found that although most of the alloys studied had the hardness and strength required, they were extremely brittle and notch-sensitive under tensile stresses."

Jan 1, 1968

By J. P. Dick

THIS paper is a description of the milling practice and metallurgy at the Moneta Porcupine mine, Timmins, Ontario. The results obtained with an all-cyanide circuit and later with flotation followed by cyanidation are described. The ?investigation which prompted the various changes in milling practice have also been dealt with. Moneta ore is possibly the most refractory now being milled in the Porcupine district. This is due to the ultra fine state in which the gold occurs and to its intimate association with pyrite. No doubt there is ore of similar characteristics on the neighbouring properties but it probably forms only a small portion of the tonnage being mined, whereas at Moneta the bulk of the ore requires an extremely fine grind to liberate the gold. The fineness to which an ore can be ground economically has gone far beyond what was thought to be the limit only a few years ago. Formerly, a set of standard screens was all that was required to measure the fineness to which an ore was ground. At present, the Haultain infrasizer is practically indispensable, and the nominal micron has become a familiar unit of measurement to all those dealing with the problems of fine grinding.

Jan 1, 1941

By S. Rajeswari, D. Gopi

"Pitting corrosion inhibition of 304 stainless steel (SS) in groundwater with a ternary inhibitor mixture (phosphonic acid + bivalent cation + various surfactants) was studied with different environmental variables such as temperature, pH, dissolved oxygen and chloride ions. Critical pitting potential and corrosion potential were calculated for these test media using electrochemical techniques. Under the tested condition, the localized corrosion resistance of 304 SS was determined and the results are discussed. IntroductionPitting corrosion of metals and alloys is a major cause of failure in chemical processing desalination plants, scrubber for flue gas desulphurization (FGD) plants, water storage tanks and pipelines, petroleum refineries, etc.Heat exchangers and condensers in inland thermal and nuclear powerplants utilize groundwater as a coolant, but materials of construction are generally prone to localized corrosion.Localized corrosion attack can be initiated when the passive film on the metal is disrupted. The presence of certain aggressive anions such as chlorides (Cl-) can migrate to the actively corroding area and stabilize pitting corrosion. Attention has been focussed on improving the resistance of stainless steel against localizedcorrosion in aqueous environments.One of the most accepted methods of avoiding corrosion is by the addition of chemicals (inhibitors). Over the past two decades, some phosphonic acids have been explored due to their good corrosion inhibition efficiency and low toxicity (Fang et al., 1993; Karman et al., 1998; Rajendran et al., 1998; Gopi and Rajeswari, 2000a). Bivalent cations like Zn2+ are often applied as additives to inhibit the metal dissolution (Sekine and Hirakawa, 1986; Aruna Bahadur, 1998)."

Jan 1, 2003

By R. Siy, O. Neiman, B. Hilscher

"A full-scale prototype of “Jameson Downcomer” technology has been installed and tested on a Tailings Oil Recovery (TOR) vessel in Syncrude’s Mildred Lake extraction plant. Jameson Downcomers are a type of mineral flotation equipment used in the coal industry that Syncrude has extended to the recovery of secondary bitumen in the oil sand extraction process. The TOR vessels are currently being operated as single-gravity separation vessels, in series with the Primary Separation Vessels (PSV’s). We have developed a model to differentiate between “floating” and “non-floating” bitumen in the PSV’s, and then applied it to verify that the current TOR performance only captures the “floating” bitumen by simple separation. The existence of “non-floating” bitumen provides an opportunity for recovery enhancement by means of the Jameson Downcomers. To achieve bitumen recovery enhancement, middlings slurry is withdrawn from the TOR vessel, and passed through a number of parallel Jameson downcomers, within which the slurry is accelerated to a high-velocity free jet, and impinged upon the slurry surface inside the downcomer, in the presence of air. The aerated slurry is returned to the middlings zone inside the TOR, resulting in an incremental recovery improvement of bitumen in the TOR. The operation of the downcomers is thought to produce suitably small air bubbles for the flotation of bitumen, either by fluid shearing during the slurry jet impingement, and/or by micro-bubble nucleation. This full-scale prototype design has met or exceeded the recovery expectations of the original Research piloting, recovering at least 40% of the non-floating bitumen. In Syncrude Extraction, this provides high business value by a separation efficiency gain achieved with modest expenditure. As well, the system has demonstrated excellent operability and maintainability.INTRODUCTION Syncrude Overview Syncrude Canada Ltd. is one of the largest producers of crude oil from oil sands. Our crude oil production facility has the capacity to produce over 15% of Canada's total oil requirements. To do this, we surface mine oil sand, extract the raw oil known as bitumen from the sand using water-based processes, and upgrade that bitumen into sweet light crude oil by fluid coking, hydro processing, hydro treating and reblending. Our final product, Syncrude Crude Oil (SCO), is sent by pipeline to three Edmonton area refineries and to pipeline terminals which ship it to other refineries in Canada and the United States. The Syncrude operation is comprised of four major technology areas: Mining, Extraction, Upgrading and Utilities. As well, Syncrude invests more than $40 million annually in science and technology, and is among the top 50 companies in Canada for Research and Development (R&D) investment. Syncrude holds 21 active Canadian and U.S. patents."

Jan 1, 2012

By Arthur Notman

Since addressing the Institute a year ago on The Future of the Copper Industry (l), many things have happened, most of them bad. It has been a hard year for profits and prophets. It was, therefore, with consider-able perturbation that I accepted the gracious invitation of your Committee to reappear. On reviewing my remarks of a year ago, I. have wondered whether, under pressure of more important matters, the Committee had neglected to make a note of them, or whether they felt that further explanations from me were in order. In either event, I am glad that I am here and welcome the opportunity to make any contribution I can to a clearer understanding of the problems of copper to those concerned. The English-speaking nations own 80 per cent of the present world-production of the metal. Col. P. E. Barbour, Secretary of the Mining and Metallurgical Society of America, and I recently completed an estimate of the known world resources of copper. We placed the figure, in round numbers, at 100,000,000 tons of metal. Of this amount, about one-third lies in the United States, one-third in the British Empire, and one-third in South America; and all but 4 per cent of this is owned by British Empire and United States capital. Our figures do not include any estimates for Russia, Japan, or Europe, on which there are no available data. It is true, consequently, that the British Empire and the United States are the ones concerned. It seems to me to be a matter of great importance to the world at large, and of even greater importance to those nations themselves, that the known sources of supply of this metal, so essential both in peace and war, rest so strongly in their hands. I cannot believe that in the long run they will neglect their responsibilities in the wise administration of these resources.

Jan 1, 1932

By R. W. Mei, R. A. Strombom, D. J. Moore

"Heat-shrinkable cable accessories are solving problems in the mining industry. This paper describes a range of products used by the industry, including low-voltage splices, high-voltage splices to 8.7 k V, cable repair sleeves, mining cable terminations used on system voltages up to 25 kV and motor connection kits up to 8 k V. Technical procedures and designs are illustrated.IntroductionThe development of high-performance heat-shrinkable materials slightly over 20 years ago proved to be one of the major technological breakthroughs in power cable accessories. Heat-shrinkable products were introduced initially for use as low-volt age cable accessories in the aircraft and electronics industry. A program of continuous development and product introduction now enables the manufacturer to offer a broad range of products for mining, industrial and utility electrical systems.With the advent of atomic energy, an important discovery was made-exposure of some plastic materials to high-energy electrons can cause the permanent crosslinking, or intermolecular joining, of adjacent molecules. Once the material has been crosslinked, it will not melt or flow at any temperature.The unique properties of heat-shrinkable products also result from the exposure of special thermoplastic formulations to high-energy electrons. Because of crosslinking, these products have perfect elastic memory. The heat-shrinkable products are supplied in expanded condition. When heated, they will shrink and tightly cover the object over which they have been placed. 'The functional and operating demands of mine cable accessories exceeded the classic electronic applications of heat shrinkable materials. These demands required a very sophisticated program to develop materials and adhesive systems that could endure the operational environment associated with the mining industry,Ease of assembly, low installed cost and operational reliability are among the main reasons for the acceptance of heat-shrinkable mine cable accessories in electrically powered mines. For over a decade, these systems have been demonstrating proven performance."

Jan 1, 1980

By Tiziana Apuani

The study refers to an area of about 70 km2, extended in the Italian Central Alps along the the San Giacomo Valley where different civil and mining works are present The regional geological setting is related to the Pennidic Nappe arrangement, characterized by the emplacement of sub-horizontal gneissic bodies resulting from the Mesoalpine isoclinalic folding of crystalline basements, emplaced throw East, and separated by matasedimentary cover units. The investigated geological rocks, belong to the ?Tambò?Unit, overlapped by its meta-sedimentary cover and by the ?Suretta? Unit. The tectonic contact gently dips to the E?NE. The valley, furrowed by the Liro Torrent, follows a N?S striking tectonic lineament, almost parallel to the nappe contact. A number of more then 70 sites, distributed in the studied area, were chosen and detailed structural and geomechanical field surveys were performed to characterize the rock masses, its intact rock and discontinuities. The procedure identifies the number of joint sets, their representative orientation, the set spacing, the type of movement, the amount of dilatation, the degree of alteration, the roughness coefficient, the presence and nature of infill. Rock mass quality indexes, such as the Rock Mass Rating (Bieniawski, 1989) or the Geological Strength Index (Hoek et al. 2002) have been evaluated in each surveyed site. The work is a contribute in assessing how the geometrical and geomechanical properties of the rock masses can be regarded as regionalized variables. The spatial distribution of these properties is a function of the geological and structural phenomena at which the rock masses have been subjected. The presented geostatistical analysis regards the spatial variation of the orientation of the most representative joint set.

May 1, 2009

By R. Ramírez, N. Aslin, G. Ríos, T. Bravo, A. R. Almansa

Lacy copper has been an on-going concern at Atlantic Copper for at least 10 years and was first reported to Glencore Technology in mid-2010. Over the past 12 years, many of the plates were replaced due to age and general deterioration however; plate passivation and lacy copper issues have persisted. After analyzing all the possible causes of this phenomena, it was found that the problem is caused by a degradation of stainless steel as a consequence of the deposition of Sb oxides. These deposits act as passivating agents of stainless steel, which reduces the density of copper nuclei, causing defective copper deposit, with low thickness and ductility. After doing several tests for reducing/removing the phenomena, the over-riding factor was found to be the anode-cathode overlap. An adequate overlap eliminates the problem of "lacy copper". This was verified during an eight month trial with anodes extended 2.5cm in length. Longer anode not only avoids the appearance of lacy copper, but also recovers cathodes that already have lacy copper. On the other hand polishing of plates only gives rise to a temporary solution that requires on-going polishing, to avoid the re-appearance of lacy copper. INTRODUCTION The electrolytic copper refinery of Atlantic Copper in Huelva (Spain) was commissioned in 1970 with an initial capacity of 40,000 t of cathodes per year. In 1975 the copper refinery was expanded to 108,000 t/year. From 1994 to 1996, a new expansion together with the implementation of ISA permanent cathode technology led to a capacity of 215,000 t/y. Since 1995, a progressive increase in the current density up to 350 A/m2 has been accomplished, which together with an increase in the number of cells from 1,120 to 1,204, has led to the present cathode production capacity of 290,000 t/y A lack of copper deposition in the lower part of the steel permanent cathodes was first reported in 2010. This phenomenon is known as “Lacy copper” because of the appearance of the copper deposit as it can be seen in Figure 1. The occurrence of this phenomena was relatively low and was assumed to be originated by an excessive anode scrapping. Nevertheless, in December 2015 Lacy Copper was observed in a significant amount of copper cathodes giving rise to the following issues: Increased tramp copper – housekeeping and maintenance problems Poor appearance of cathode deposit and untidy looking bundles

Jan 1, 2019

By M. Veiga

"Mining is an energy and water intensive activity. Increasing energy efficiency and reducing water consumption are two of the key requirements in moving toward a more sustainable mining industry. Water reduction, reuse and recycle options are reviewed, identifying cases where these options have been implemented. Then a novel mine water network design method is described, which analyzes a mine/mill water system in order to identify areas where water requirements and water system energy requirements can be reduced. First, a site water balance is determined and major water consumers and sources are specified. Next, multiple possible combinations of supplying water to mine and mill consumers are compared. Finally, low energy and water combinations are identified.INTRODUCTIONMining consumes vast quantities of energy: The whole mining and metals sector consumes over 12% of the world’s energy (DOE, 2009). Mining also requires large quantities of water, although mining water consumption is a relatively small portion of the overall world water use. Even in relatively dry, mining-intensive countries like Australia and South Africa, mine water consumption is only 2-3% of national water demand (Brown, 2003). However, at the local level, when mining takes place in areas where water is scarce, mine water consumption can severely impact local supplies. In addition, acid rock drainage, leaks from waste impoundments, or direct disposal of tailing into waterways can contaminate surface and groundwater (MMSD, 2002). Mine water systems can be large energy consumers, but better mine water systems can reduce both water and energy consumption. Improving water system design and practice are key strategic requirements in moving toward a more sustainable mining industry.This paper addresses conventional base-metal or precious-metal mine sites, which consist of an underground or open pit mine and a mineral processing plant, or mill. Ore is extracted and processed through the plant to produce a saleable product. Tailing, or waste material, is then deposited in a tailing storage facility (TSF). Any rock removed from the mine with no economic value, or waste rock, is stored without being processed."

Jan 1, 2010

By Kimiz Dalkir

Some things to keep in mind? ! What is your role in knowledge management? ! What knowledge-related challenges are you facing today? ! How does important knowledge get shared in your organization? ! Can you name factors that enable/block innovation and organizational learning in your work context? A brief history of KM? ! Top-down / imposed ! Rigid / bureaucratic ! Slow deployments ! Expensive ! Unpopular: empty libraries, info-junkyards, low adoption rates ! Problems measuring success ! The result: traditional KM is not the answer

May 1, 2003

By V. A. Cooney

Introduction For the compliment paid me by the Institute's kind invitation to speak this afternoon, I am very grateful. For the astuteness of your officers in determining that encouragement should be given, through the medium of a paper, towards accident prevention in coal mines, the coal industry cannot but be grateful. Some day, and let us hope soon, a more developed paper may supersede this one. In the meantime, if some knowledge of what one coal field has been able to accomplish, even in the initial stages of its effort, will induce other fields and other sections of the mining industry to launch similar experiments, much good will result and a more developed dissertation on the subject will make its appearance.

Jan 1, 1946

By K. Nasrallah

"The Dumont deposit is a large (1,179 Mt proven and probable reserve) low grade (0.27% nickel), nickel sulphide project located in the Abitibi region 25km west of Amos, Quebec. Royal Nickel Corporation acquired the project in 2007 and has since taken the project from a scoping study in 2010 through to completing the feasibility study in July 2013.The Dumont deposit in a nickel deposit with the recoverable nickel contained in three minerals; pentlandite, haezlewoodite and awaruite. The minerals are recovered by a combination of flotation and magnetic separation. Over the course of the studies many flowsheet design decisions and changes were made. This paper outlines an overview of the project, flowsheet design including the comminution circuit, desliming and awaruite recovery. The overall resulting flowsheet that was used for the feasibility study is then presented along with the confirmatory locked cycle testing that showed the feasibility design basis was able to produce the predicted concentrate grade and recovery.IntroductionRoyal Nickel Corporation (RNC) is a mineral resource company headquartered in Toronto, Canada, primarily focused on the exploration, evaluation, development and acquisition of base metal and platinum group metal properties. RNC's principal asset is the Dumont Nickel project (Dumont project) located in the established Abitibi mining camp, 25 km northwest of Amos, Quebec. RNC acquired a 100% interest in the Dumont property in 2007. The mineral claims covering the Dumont deposit are currently held 98% by RNC and 2% by Ressources Québec.The Dumont project is located in the province of Quebec in the municipalities of Launay and Trécesson approximately 25 km by road northwest of the city of Amos, 60 km northeast of the industrial and mining city of Rouyn-Noranda and 70 km northwest of the city of Val d’Or."

Jan 1, 2016

By M. W. Lewis, J. Werner

Fluctuating metal prices, declining head grade, and increased operational costs are forcing many open pit mining companies to look to their balance sheets for significant cost reductions in order to remain competitive. Maintenance continues to represent a significant proportion of the total operating costs in the mining industry. Compared with the other major cost components of the mining process, very little effort has gone into maintenance optimization. The potential payoff from maintenance optimization on the cash cost of the commodity is enormous. A large percentage of these costs are incurred in unscheduled maintenance events, which typically cause serious disruptions to the production process. These maintenance-induced production losses can be a significant contributor to the overall operating costs. A structured proactive maintenance approach using the latest advances in technology can achieve dramatic cost reductions and productivity improvements. Remote condition monitoring systems are becoming increasingly commonplace and have the potential to identify problems prior to failure. Detection of equipment degradation prior to failure will enable repairs to be scheduled thereby reducing costs and interruptions to production. Remote condition monitoring technology has evolved rapidly in recent years, with a host of new tools becoming available to assist mine operators in improving their maintenance operations. These tools have capabilities such as remote real-time vital signs and performance monitoring, alarm/event handling, trend analysis, and maintenance workflow management. When these monitoring tools are used in conjunction with a mine management system, the vital signs data can be integrated and associated with maintenance history, predictive maintenance data, operational information, and geographical information. This integrated approach to the management of vital maintenance data will help shift the mobile equipment maintenance paradigm from reactive to proactive. This paper will introduce a proactive approach to the management of the maintenance process and the tools required to facilitate this process.

Jan 1, 2005

By M. Ramström

"In 2002, Atlas Copco Rock Drills AB released the new rig control system (RCS) technology for all of its drill rig types. RCS opened the way for a new generation of computerized drill rigs based on modern, standard PC-computer technology. Drilling accuracy, information logging, reduction in manpower in some types, and serviceability have all taken a quantum leap forward when compared with previous generations of drill rigs. RCS is modularized and distributed by means of CAN-bus technology. This technology, which is well proven in automobile applications, forms the communication backbone of the rig. The modularity facilitates almost unlimited possibilities for the expansion and adaptation of drill rig functions."

Jan 1, 2005

By J. H. Archibald

"IntroductionShot-saws are used for sawing rock throughout the dimension stone industry especially in granite quarry mills. Shot-saws, as currently designed, have an inherent wear problem which leads to slow cutting rates and repetitive blade changes which consumes much time. Because the saw blades are made from steel the abrasive shot used with them is limited to a certain hardness which effects the over-all efficiency of the sawing operation. Suggestions are made toward optimization of blade design and the sawing process. Blade DesignA common steel blade design is shown in Figure I. Note the perforations in the blade. These perforations or holes in the blade serve two or three purposes. The most obvious reason is to allow the abrasive shot a pocket in which to collect at the bottom of the blade, so that it can be distributed from these pockets into the cutting zone underneath the blade. The abrasive is fed to the saw in a slurry and usually comes in from the top. The blade must then cut a kerf wider than itself in order that the abrasive grains have a path leading from the top of the blade, down along its sides, and finally reaching the pockets and cutting zones. This circuitous path followed by the abrasive leads to side wear on the blades and high friction which can lead to blade buckling in severe cases. However, the fluidized path of the abrasives down the sides of the blade serves another purpose which is a positive gain if conditions are properly controlled. The abrasive slurry interacts with the perforations of the blade, the blade itself and the rock. This gap and the perforations in the blade, which are fluid filled, are sites of constant shearing motion. Eddy currents form in these gaps and pockets which tend to stabilize the blade by setting up balanced hydrodynamic forces which otherwise might not form in a non-perforated blade. A stable blade produces a more uniform cut in the rock. The third and final reason for the perforations are to allow the blade to wear in such a fashion that new pockets are always being formed and, consequently, new cutting surfaces between these pockets are also formed."

Jan 1, 1993

By R. Grant, C. Bazin

"Brunswick Mining has investigated grinding media optimization for the purpose of improving the flotation feed and regrind product size distributions to enhance metal recoveries. This paper presents the findings of on-going testing of various sizes and shapes of grinding media. Plant observations combined with estimated breakage rates demonstrate the importance of appropriate selection of media sizes on the milling operation.IntroductionBrunswick Mining and Smelting is located near Bathurst, New Brunswick, and operates one of the world's largest lead and zinc mines. The ore mineralogy and processing flowsheet have been described elsewhere (Petruk and Schnarr, 1981; Shannon et 01., 1993). Despite the 25 years' milling experience, there has been considerable disagreement as to the required grind size (Grant et 01., 1991). Since 1964, fineness of the flotation feed ranged from 60% to 80% passing 400 mesh (37 um) and averaged slightly above 71% in 1992. Results from mineralogical analysis (Petruk and Schnarr, 1981), laboratory and pilot plant experiments, as well as plant sampling (Grant et al., 1991; Hendriks and Ounpuu, 1985; Shannon et al., 1993) indicate that improved metal recoveries can be achieved by an increase in the fineness of grind, and more specifically by maximizing the amount of material in the 15 urn to 25 um range.This paper shows the results obtained so far from the evaluation of the effect of grinding media size and shape on grinding mill efficiency. The problem of finding optimum grinding media size, shape and composition has been recogrtized since the early 19405. The main criterion for the selection of media size is the size of the material to be ground (Bond, 1958). Although several relationships have been proposed to assist in the selection of grinding media size, none of them are entirely satisfactory (Wills, 1988). Other approaches using the breakage rates and process simulators were developed to help in the selection of grinding media size (Austin et al., 1976; Lo and Herbst, 1986; Concha et 01., 1992; Samskog et al., 1990; Martinovic et al., 1990). Although considerable effort was put into the analysis of grinding media size, very little information is available on the effect of grinding media shape (Norman and Decker, 1985, p. 3C-4). Norris (1952), Kelsall et al. (1973) and Herbst and Lo (1989) have shown that balls are more efficient than other shapes of grinding media including truncated cones and cubes."

Jan 1, 1994

By Lawrence Devon Smith

"The concept of risk is well established in the mining industry. It is acknowledged when estimates of reserves are expressed as proven or probable, when mining and metallurgical recoveries are applied to the ore, and when contingencies are added to costs. However, it is difficult to provide a quantitative assessment of risk. The significant sources of risk in a mineral project and how these are addressed in project evaluations are discussed. The discount rate is examined as a fundamental means of reflecting risk in discounted cash flow evaluations. Current industry practice is discussed, and a methodology for the analysis of risk levels is proposed that assesses the constituent components of the discount rate: real interest, mineral project risks, and country risk.IntroductionThis paper examines the components of the discounted cash flow discount rate and proposes a method of estimating project-specific discount rates. The motivation for this work comes from experience of project evaluations in which owners and purchasers had agreed on virtually every aspect of the evaluation except how much the project was worth. Agreement was reached on reserves, grad~, recovery, capital costs, operating costs, taxes, and, by combining these components, even on the fmal cash flow values. The only difference in opinion concerned the discount rate to be used in the calculation of the net present value. Depending on the life of the project, such differences of opinion can cause a variation of more than 50% in the value placed on a project! This is illustrated in Figure 1."

Jan 1, 2003

By Norman O. Lotter, Dominic Fragomeni, Lori J. Kormos, Guy Comeau, Antonio Di Feo

"A performance opportunity was identified for the Raglan concentrator operation by changing the selection of xanthate from Potassium Amyl Xanthate (PAX) to Potassium Isobutyl Xanthate (PIBX). This opportunity was identified by a Statistical Benchmark Survey of the operation and QEMSCAN measurement of these survey samples, in which fine liberated pentlandite was found in the final tailings. This was confirmed by some laboratory scale flotation testwork using High- Confidence Flotation Testing. A statistically designed plant trial was implemented in 2007 to measure and confirm the performance gain. This trial design used on-off switching following a three-month reference distribution of normal operations using PAX. This layout provided both external and internal reference distributions on PAX to be established. These were used to evaluate the internal reference distributions on PIBX. This trial format was deliberately designed so as to block out the effects of autocorrelation in the operations data. In this way, small but significant metal recovery gains may be measured and proven in a plant trial. The paper describes the case study to show that this approach successfully blocks out autocorrelation in time, which is an obstacle in analysing concentrator operations data. The results showed that the PIBX had produced clear and statistically significant recovery gains for Ni, Cu, Pt and Pd. Adjusted for feed and concentrate grades, these recovery gains were: Ni: 1.00, Cu: 0.96, Pt: 5.07 and Pd: 1.90%.INTRODUCTIONConcentrator OperationsMilling and flotation, sometimes accompanied by gravity separation, are well-established unit processes. These have traditionally been used to treat ore that has been mined, producing a lowbulk concentrate containing a high percentage of the paymetal(s) in the ore mined. These concentrates are more economically treated in subsequent beneficiation processes than the ore from which they were produced.This choice of a concentration process results in a significant and variable paymetal loss to the concentrator tailing. This tailing is discarded and disposed of in an impoundment area, and has no immediate business use. This paymetal loss forms the largest loss of paymetal in the entire flowsheet by which refined, or saleable, metal(s) are produced [Cramer, 2001]. The question arises as to whether any particular concentrator is performing at its full potential, and how this answer may be determined. In a concentrator operation, there is always an ongoing performance improvement programme for this reason."

Jan 1, 2009