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

Jan 1, 1994

Since the mid-1970s there has been increasing attention in the South Pacific area to the problems of disaster planning and management at various levels, mainly from regional through national to provincial levels. This concern has been expressed in a variety of ways. International aid donors have made their views known in commentaries or reports. Seminar discussions have been organised at the regional level (such as at Suva, 1976; Suva, 1979; Tonga, 1982 and Suva, 1983). In-country training workshops or meetings have been organised (such as the "Disaster Preparedness Workshops for Non-governmental Organisations" in Pacific countries, jointly run by the Australian Red Cross and the Australian Overseas Disaster Response Organisation and supported by AIDAB, in Vanuatu, 1985; Solomon Islands, 1985; Western Samoa, 1986; Fiji, 1987; Tonga, 1987; Lae and Port Moresby, Papua New Guinea, 1988) or held outside the area (ACDC at Macedon, 1981). Training and/or research institutions have been established such as the East-West Center, Honolulu, and the Asian Disaster Preparedness Center, Bangkok (more Asia oriented). As part of the East-West Center Pacific Islands Development Program's Disaster Preparedness Project, a detailed manual of disaster preparedness and response procedures and guidelines has been published (Carter, 1984).Table 1 and figure 1 show that the area with which this discussion deals is a highly fragmented island region, comprising many small, some minute, nations, both in land area and population. The social structure is predominantly rural, with the capital city often making up a small part of the total population and, in absolute terms, little more than a small town. Outside the administrative and governmental activities concentrated in the capitals, in most cases the indigenous inhabitants depend on subsistence agriculture or on usually a monocultural concentration on a cash crop, most frequently coconuts.

Jan 1, 1990

By Payne AR

The high cost of gateroad repairs and maintenance in U.K. longwall coalmining is a clear indication of the failure of permanent support systems to fulfill their prime function, i.e. control of strata movement. The main component of gateroad support is the pack, the design and materials of which have experienced an important development process during the last 10-15 years. More recently, research investigators have attempted to give a design basis to pack quality and dimension, and reference is made to two theoretical approaches. In the course of a current research programme based upon in situ monitoring, interim design recommendations have been proposed as a means of effecting improvement in support efficiency. Identification of characteristic deformation behaviour forms the basis of the recommendations made and the subsequent improvement in gateroad performance reported.

Jan 1, 1986

Diamond drilling is a relatively new commodity in terms of drilling. The first known diamond drilling activities were carried out in the Swiss Alps around 1863 when the Swiss engineer M Leschot designed and made a tube with a diamond set face which was used in probing ahead drilling for the Mont Cenis tunnel (Figure 1). Craelius AB which today is a part of the Atlas Copco Group was formed in 1886. The name Craelius is a family name and the founder of the company was Per Anton Craelius (Figure 2). He went to the United States to study this new technology using diamonds to extract core samples and when he returned to Sweden designed his first diamond drilling machine. It was a man-powered drill needing a crew of six men, two to crank the unit, one to feed, two to power the flush pump and a foreman (Figure 3). As time passed through research and development, the original design was improved and manpower was substituted for steam engines and later combustion engines or electric motors (Figure 4). During the 1930s the drills radically changed designs and took the form of the short stroke drills which to a certain extent are still in use today. The original design of these drills have been refined during the years, hydraulic chucks, gear boxes and other improvements have been added.

Jan 1, 1995

By A Tomsett, R Kidd, Z Casley

Bivariate recoverable resource estimation aims at predicting the recovered metal for a secondary variable when a cut-off is applied to a primary variable. The choice of a consistent geostatistical model is advisable to allow a robust estimation from exploration data of the primary and secondary metal recovery functions on a generic selection block (selective mining unit û SMU) within large panels. Ore processing decisions at Lihir Gold LimitedÆs Lihir Gold Mine are based on the gold and sulfur estimates of SMUs from production (grade control) data. The predictive model from exploration data at Lihir is based on the estimation of a recoverable resource for gold by Uniform Conditioning (UC), with an estimate of the sulfur grade being provided by Ordinary Kriging of panels. While univariate UC is adapted to the diffusive nature of the gold mineralisation (Ladolam orebody) at Lihir, the independent estimation of sulfur, through ordinary kriging, fails to capture the potential spatial correlation that exists between gold and sulfur mineralisation. This paper presents a practical implementation of bivariate UC, which better represents in the resource model the spatial correlation between gold and sulfur. Incremental economic gains through improved definition of material categories and scheduling are investigated, and the particular impact on the process of geological interpretation and domaining is emphasised.

Jan 1, 2009

By K B. Barnard, M D. Urbani

A synergistic solvent extraction (SX) system for nickel and cobalt recovery using Versatic 10 and decyl-4-pyridinecarboxylate was tested with BHP Billiton pilot plant leach solution. Another synergistic SX system for cobalt and zinc recovery was successfully tested using Baja MiningÆs pilot plant leach solutions. Synergistic SX systems have also been developed to separate iron, zinc and copper from nickel and cobalt for Minara Resources and to separate manganese from magnesium and calcium in waste stream for HiTec Energy. The gypsum precipitation problem at the former Bulong operation could have been alleviated using a Versatic 10 and CLX50 synergistic SX system. These synergistic systems have shown high selectivity for target metals over impurity metals and would largely improve SX plant operation. Maintaining a æhealthyÆ organic is very important for efficient plant operation. Careful analysis of plant organic at CSIRO has been used as a tool to pre-empt and/or solve problems in operating circuits. Work performed to assist operators has included assessing plant organic solutions to highlight impurity build-up with time, assessing reagent stability under prescribed operating conditions, correlating organic composition with impurity transfer and crud analysis. An independent estimate has determined that work in this area by CSIRO has provided over $50 M in benefits to the industry.

Jan 1, 2005

The seam gas content at Westcliff Colliery is 12-15m3/tonne of coal.Composition ranges from 99% CH4 to 52% C02 in one area. Desorption rates are proportional to gas contents and CH4 is preferentially desorbed. A crushed zone of reduced permeability advances with the face - at Westcliff ribside crushed zones are 2.5 to 6.5m wide. Poor strata control widens crushed zones. 12 months of pre-drainage allowed 2 heading development and longer pillars to be used in a virgin area instead of 3 or more headings without drainage. Machined coal may lose as much as 1.6m3/tonne being conveyed out of Westcliff Colliery. Experience differs from mine to mine. Permeation is affected by time, strata movements, changing water content, and changing stress. Permeabilities vary from lOmd for Pittsburgh Seam to less than 1 and for the Bulli Seam. All these data and differences await further investigation.

Jan 1, 1982

By Tomlinson R. C

There are two main aspects of coal preparation to which the operational Research Executive of the National Coal Board has applied computer models. The first is in the planning of preparation plants and the first part of this paper discusses Simprep, a computer package that was designed to help on these calculations. The other is the development of control schemes to improve quality control, and the second part of the paper deals with the development of simulation techniques for this purpose.

Jan 1, 1977

Epicentres of recent shallow earthquakes in the region (3-12¦S, 126-150`E) were plotted to identify the various plate boundaries in the region, in particular the southernmost one marking the northern edge of the Australian plate. New and published fault plane solutions were examined to determine the style of faulting and state of stress along the Australian plate boundary. From east to west the boundary is first a subduction zone along the Solomon Islands, then a spreading centre across the Solomon Sea, a zone of compression and left lateral strike slip along the Papua Peninsula, almost pure thrusting across the centre of New Guinea and lastly left lateral strike silo through Irian Taya to the outer Banda Arc. The principal stress is very consistent, trending NW to NNW in a near horizontal plane, from the triple junction of the Pacific, Solomon Sea and Australian plates in the east to the Banda Sea in the west. Only along southern Solomon Sea plate margin which is a divergent boundary, is the stress different in type and direction.

Jan 1, 1987

By T Kitajima, T Kawaguchi, T Nakamura

Carbothermic reduction of iron oxide is an attractive mechanism to produce metallic iron, since it can directly utilise coal as both reductant and fuel. To improve energy efficiency and productivity of the metallic iron production based on this mechanism, the combustion bed process packed with the composites of iron oxide and coal powder was experimentally evaluated. The process has a potential of high heat efficiency since it can automatically utilise the heat of reduced materials as that necessary to the subsequent reduction of the composite by a large heat exchange rate between the packed particles and gas flowed across the bed. However, it is hard to perfectly prevent the reoxidation of formed metallic iron in the bed. The present paper reports the effect of coal content, pellet size and so forth on the reduction/metallisation degrees of the samples after the reduction experiment. It also discusses the effect of pretreatment of the composite pellets using CaO bearing materials to suppress the reoxidation of formed metallic iron in the bed.

Jan 1, 2000

By White A, Price G

The main assets of a mining company are its orebodies; the second are the people who find and use them.The graphs in Figure 1 were derived from a paper by Rob Macdonald of Rothschild Australia presented to The AusIMM Centenary Conference in Adelaide earlier this year. They show that the value of the industry on the Australian Stock Exchange halved over the past decade, despite the re-investment of capital equivalent to its full market capitalisation. Why is this so? The average dividend yields for the ASX Mining Index was never above five per cent during that period and barely averaged 2.5 per cent. Why then is $Ai million capital re-investment per employee since 1960 not enough to generate a rate of return to investors better than lousy bank interest? Do the investing public no longer regard our industry's assets to be world class?

Jan 1, 1993

By Zamel GI

The utilisation of fossil fuels, including coal (of which Australia is a large producer and exporter) is a significant contributor to the emission of greenhouse gases. Methane gas, formed during the coalification process, is present in coal seams to varying levels depending on the rank and depth of the deposit. This gas usually escapes to the atmosphere during mining operations without prior conversion to C02 or utilisation as fuel. The quantity of methane released can represent from less than one percent to more than five percent of the carbon content of the coal mined. Per unit of carbon, methane has a greenhouse impact many times that of C02. The emission of uncombusted methane to the atmosphere can therefore represent a greenhouse impact of similar porportions to that of the CO2 formed by combusting the mined coal. However, greenhouse emissions from coal can be minimised by collecting the coal seam methane and converting it to water vapour and the less damaging form, CO2. If such conversion is carried out while performing useful work, the methane can further reduce greenhouse emissions by displacing other fossil fuels. Technology has been developed to allow coal seam methane gas to be economically collected in a pure form, uncontaminated with air. This pure methane can be used to supplement natural gas supplies, to generate power or for the production of chemicals or substitute transport fuels. By collecting and utilising coal seam methane, the greenhouse impact from the mining and use of coal can be minimised, with significant reductions possible in the case of gassy deposits.

Jan 1, 1989

By Reid A. F

Since early 1971 Western Titanium N.L. has been operating an ilmenite upgrading plant on a commercial basis at Capel, Western Australia. In their process ilmenite is pre- oxidized, then reduced in a rotary kiln to a mixture of metallic iron and titanium oxides. The iron is leached out by accelerated rusting in aerated water, leaving a product with titanium content, expressed as Ti02, of about 92%. Samples from different stages of the up- grading process, representing operations over the last two years, have been studied in detail by X-ray diffraction methods, and the sequences of phases and reactions occurring have been determined. Quantitative X-ray studies showed the ilmenite feed materials to consist of a mixture of ilmenite and pseudo- rutile. Pre-oxidation of the ilmenite at =1000¦C leads to the formation of rutile plus a Fe2TiO5-FeTi205-Mn2TiO5 solid solution. The final reduction product consisted of a mixture of metallic iron, reduced rutile and a FeTi05-MnTi205-Ti305 solid solution. The relative amounts of these reduction products were very sensitive to the initial concentra- tions of the minor constituents manganese and magnesium. The effects of variation of ilmenite feed rate, reducing atmosphere,- reduction temperature and controlled addition of magnesium were also studied.

Jan 1, 1973

Experience in evaluating grade control at operating mines has shown that a number of similar errors re-occur in diverse settings. These can be broadly classed as technical errors, and procedural or grade contra management errors. Examples of typical errors are presented a; generalised case studies. A brief explanation of why the recommender solution worked is also presented for each case.

Jan 1, 1993

ADDRESS BY THE PRESIDENT OF THE INSTITUTE (MR. J. G. SYMONS) IN PRESENTING THE CERTIFICATE TO ROBERT COLVILLE BRADSHAW, O.B.E.Today it is my privilege and pleasure to introduce to you, Robert Colville Bradshaw. O.B.E., the third New Zealander to be honoured with Honorary Membership of The Institute. Sir William Hudson and Mr. C. H. Benney were the others.Mr. Bradshaw has been an Affiliate Member of The Institute since the formation of the New Zealand Branch in 1966. Like his friend Matt Benney. Bob Bradshaw is an accountant by training. Last June he retired as senior partner of the firm of chartered accountants, now known as Wilkinson Wilberfoss, with which he served from January 1929.Mr. Bradshaw grew up in New Zealand attending the Terrace School in Wellington, the New Plymouth Boys' High School where he was a boarder, and completing a Bachelor of Commerce at the university now known as the Victoria University of Wellington. He is an elected Fellow of the New Zealand Society of Accountants and an Associate of the United Kingdom Institute of Cost and Works Accountants.

Jan 1, 1977

An investigation was made into the mineralogical characteristics of the upper portions of the 650 and 750 copper lodes. The investigation was based on a comprehensive suite of geological specimens representing all types of mineralization encountered during mining until the end of 1954 and the chief aims of the investigation were to determine (a) the minerals present and their textures and associations, (b) the paragenetic sequence of deposition of minerals in the orebodies, (c) significant changes, if any, which could be found in the orebodies with depth, and (d) the nature and mode of occurrence of nickel in the ore. The general structure of the orebodies is outlined and their mineral composition given. 10 textures exhibited by the ore minerals are described and a paragenetic sequence of events in the formation of the copper orebodies is outlined. No decrease in the complexity of the sulphide mineral textures with depth could be seen and no evidence was found to suggest that the tenor of the ore would decrease with depth although some factors which may eventually limit the extent of the orebodies are noted. The mode of occurrence of minor elements in the orebodies is described. Notes on the occurrence of pyrite, aikinite and berthierite in the orebodies is given and the orebodies are considered to be identified with LiIidgren's mesothermal type of sulphide ore deposit in which considerable replacement of older by younger generations of sulphide minerals occurred.INTRODUCTIONA mineragraphic study was made by Stillwell and Edwards (1945) of a suite of specimens submitted by Mount Isa Mines Limited from the Mount Isa Black Star copper orebodies with a view to determining 1. the nature, extent and association of arsenic, antimonyand bismuth minerals, 2. the mode of occurrence of silver and 3. whether galena and sphalerite occurred in minute forms and below the sizes readily observed in hand specimens.

Jan 1, 1961

The mineral pulp as it passes through grinding-classification, flotation and solid-liquid separation is examined in the context of it being a particulate fluid. By focussing on the complex viscosity and yield stress of the fluid, new control strategies are discussed. The mineral-particulate fluid is dominatred by non-Newtonian rheology (ie shear thinning, shear thickening, shear yield stress and compressive yield strength). The control of this Theology is seen to be dependent on the fundamental practice-particle interaction forces and with adequate information, it is possible to use the complex shear properties to advantage. The advantages, in terms of final waste and concentrate management, to high weight per cent solids in the mineral particulate fluid, are explored and control strategies outlined.

Jan 1, 1993

By R A. Eggleton and, P de Caritat, K M. Scott

The Portia Au and North Portia Cu-Au-Mo prospects are located on a magnetic structure called the Benagerie Ridge Magnetic Complex, comprising varying pyrite-bearing Proterozoic albitite, phyllite and carbonaceous phyllite. The prospects are covered by up to 75 m of Cainozoic sediments, which comprise from top down, surface soils, Quaternary sediments, the Miocene Namba Formation and the (Late-Oligocene?) Portia Unit.The Portia Unit is dominantly clay-rich with local sand-rich base and it fills palaeo-topographic lows and a palaeo-valley that incised into the weathered basement rock (saprolite). This sedimentary unit hosts the majority of the Au grains found at Portia, with additional Au grains also present in the underlying saprolite. The North Portia prospect comprises saprolite hosted Cu-Au-Mo, with elevated concentrations of As-Pb-V present in the northern part of the prospect. These two groups of elements are delineated using factor analysis, and are regarded as the pathfinder elements for the North Portia mineralisation.Secondary Cu minerals including covellite and native Cu are present in the lower saprolite, and are stable under reducing conditions in the saturated zone.In the upper saprolite (unsaturated), Cu, Au, As, Mo and Pb are associated with Fe-oxides, mainly goethite and hematite. Saprolite leached of Fe generally contains low pathfinder elements concentrations.

Jan 1, 2004

By S Shipard

Filters are used in water treatment and hydrometallurgical process plants for objectives such as generating a dry spadable solid, pumpable high density slurry or high purity filtrate. The priority objective of every polishing filter, sometimes also termed clarifying filters is high purity filtrate and these are found in many diverse industries and even different applications within the same industry.To generate a high purity filtrate, process designers have the choice of many different polishing filter products, but in reality very few polishing filters are based on fundamentally different filtering concepts.This paper reviews the technology merits of well-known and the more recently developed polishing filter products and aims to assist metallurgists and engineers with the selection of an appropriate polishing filtration technology for pregnant liquor filtration and other process applications, plus a guide to best practice.CITATION:Shipard, S, 2013. Polishing filters for mineral processing plants, in Proceedings MetPlant 2013 , pp 118-125 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Jul 15, 2013

By Ward S. C, Gardner J. H

In 1990, Alcoa of Australia Limited was elected to the Global 500 Roll of Honour of the United Nations Environment Program for the environmental management and rehabilitation of the bauxite mines in Western Australia. This award placed Alcoa in the international best practice category. The story of constant improvement spans more than 20 years from a 'trial and error' start to a strategically focussed and research driven program today. The main driving force has come from within the company, against a set of strong corporate values and a well publicised Vision based on 'excellence through quality'. Along the way public opinion, action group protests, increased legislative controls together with the professional competence of internal and external environmental resources have all played a part in arriving at the level of current environmental management and mine rehabilitation performance. There were numerous lessons learned here during the evolution and maintenance of best practice. These included: I . To work diligently in obtaining a vision or strategic intent on mine site rehabilitation and environmental management - don't be easily dissuaded.

Jan 1, 1995