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By S Wainio, P J. Beckett, T Miller

Lichens are a symbiosis of fungi and algae. Air borne elements and gases are absorbed very efficiently over the entire surface of the lichen, because they have no protective structures such as a waxy cuticle or stomata. A survey in 1977 (one year before the Sudbury Regreening program began), indicated that several Cladonia spp had invaded the soil in Sudbury’s open birch woodlands. Pollution sensitive species such as Cladonia rangiferina and C. mitis occurred 20–25 km from the smelters. It was anticipated that the improvements in air quality and reclamation efforts would allow a natural invasion of pollution sensitive species into what once was a lichen desert that surrounded the smelters. The purpose of this project was to study the invasion of terricolous (soil-inhabiting) communities of lichens and mosses on reclaimed land in the Sudbury region 45 years after commencement of the Sudbury Regreening Program.

Aug 2, 2023

By H Han, d S. Hapugoda, L Lu

With the recent rapid development of Chinese steel industry, the world iron ore resources of good quality are depleting rapidly. As a result, iron ore deposits of lower quality have been or are being developed to meet the market demand and are becoming increasingly important to iron and steel companies. As concentrates have advantages of high Fe grade and less harmful impurities, they are ideal sweeteners to maintain sinter grade and quality when high proportions of low-grade ores are used in the sinter blends. However, due to their fine nature, addition of concentrates will inevitably increase the proportion of adhering fines and reduced the proportion of nucleus particles of the sinter blends, which can adversely affect the green bed permeability and sintering productivity. In the present study, lab scale sintering tests were carried out under the conditions similar to the sintering process to examine the effect of concentrates on the high temperature sintering characteristics of sinter blends and the structure and strength of the resultant sinter analogues.

Sep 18, 2023

By S M. W Rajaratnam, P Varma, T L. Sletten

Mining employees undertaking shift work are at considerable risk of experiencing sleep disturbances and circadian rhythm disruptions. In the complex, high-risk environment of mining, these sleep and circadian disruptions lead to adverse impacts on employee health, alertness and safety. Evidence-based tools that effectively target improvements in sleep health amongst shift workers are needed. Variability in work hours and individual differences in the response to shift work mean that a ‘one-size-fits-all’ solution is often insufficient in complex work environments. Currently no interventions provide tailored support for shift workers based on their rosters, personal commitments and sleep habits. Existing technologies, such as smartphone applications and watches, allow sleep monitoring, but their strategies are targeted towards night sleepers, which does not translate to shift work contexts. To address this, our team has developed an innovative digital tool that implements biomathematical models to provide automated, personalised sleep and circadian intervention strategies to optimise sleep, alertness and performance during shift work. The tool uses mathematical models of sleep and alertness regulation that provide physiologically optimal times for an individual to sleep when experiencing circadian disruption. This program of work included co-designed development of a world-first app with shift workers and the examination of the preliminary efficacy of the intervention for improving sleep, alertness and performance.

Apr 16, 2024

Towards Improved Hydrocyclone Models - Contributions from Computational Fluid Dynamics

Sep 13, 2010

Solid Energy New Zealand (SENZ) uses a 20+ year period for integrated planning of all its business activities. It has an ongoing program of coal resource assessment to optimise future mines within this 20 year period, using a six step resource and mine planning process. Desktop review and conceptual study at preliminary Levels 1 and 2 are based on general coal resource information. Further coal resource investigations are carried out for the more detailed evaluations in secondary assessment, prefeasibility study, feasibility study and detailed engineering from Levels 3 to 6. At Levels 1 and 2, completing conceptual planning, including preliminary resource evaluation and economic appraisal to the target cost uncertainty level of ¦33 per cent, is challenging in New ZealandÆs highly variable geological and geographical conditions. Where coal deposit geometries are relatively simple, approximate methods for determining pit limits using overburden strip ratios, seam thickness, physical boundaries, and quality cut-offs may be sufficient. Many New Zealand coalfields are however complicated structurally, with multiple seams and extensive folding and faulting. Coal seams are characterised by variable dip, thickness, and quality over relatively short distances. In the North IslandÆs Waikato coalfields, coal is typically overlain by weak sediments and clay rich strata that necessitate very flat cut and fill slope angles. The proximity of these deposits to major infrastructure (including towns, highways and rail lines), significant environmental features such as the Waikato river and lakes, and valuable dairy farmland, add further complexity. Traditional preliminary mine planning techniques applied in these conditions are insufficient. Pit optimisation software, widely used in the metalliferous mining industry since the 1980s, offers the ability to analyse many more specific factors affecting pit limits, mine layouts, and economics, with more rigour and for a much larger number of scenarios, than traditional methods allow. SENZ therefore decided to adapt and use æWhittleÆ pit optimisation software for Level 2 analysis of several Waikato opencast prospects. This paper describes this work.

Jan 1, 2005

By M I. Pownceby, N Karimian, A Frierdich

These may be found with goethite through mechanisms including direct substitution or coprecipitation of nanocrystalline phases. Understanding P incorporation in goethite has significant implications for Australia’s iron ore industry as it lowers their commodity value. The current study tests a novel low-temperature technique to extract P impurities from synthetic goethite phases under O2-free ambient conditions by utilising Fe(II)-catalysed recrystallisation. The objective of this study was to examine the effect of the Fe(II)-catalysed recrystallisation of goethite on the geochemical behaviour (mobility and speciation) of co-associated P. To achieve this, we tracked changes in labile P (aqueous and 1M NaOH extractable) concentrations over time in goethite suspensions which were reacted with Fe(II)aq for 14 days under circumneutral pH conditions and room temperature conditions. Temporal changes in Fe mineralogy were investigated via synchrotron-based X-ray absorption spectroscopy. Iron K-edge extended X-ray absorption fine structure (EXAFS) spectroscopy confirmed goethite as the only mineral phase in P-free treatments while goethite (~86 per cent) and feroxyhyte (~14 per cent) were the main phases in 1.0 per cent P-containing treatments after a 14- day reaction with Fe(II)aq. According to our findings, the treatment of P-goethite with Fe(II) for a duration of 7–14 days, followed by a 24-hour extraction of the reacted solids using 1M NaOH, results in the removal of approximately 79.5 per cent of the initial P content. This removal encompasses both the aqueous fraction (~4.5 per cent) and the surface adsorbed fraction (~75 per cent) from the 1 per cent P-bearing mineral phase. Notably, this approach demonstrates an improvement in P extractability, with approximately a 10 per cent increase compared to the 1 per cent P-goethite sample that was not reacted with Fe(II).

Sep 18, 2023

By T Perera, B Fan, S Thang, T Hsia

The mining industry is currently focusing to develop and adopt sustainable collector chemistry that can efficiently recover valuable minerals from their natural state. However, a limited number of research can be seen on the design and synthesis of polymeric flotation collectors. The focal objective of this research is to synthesise a more effective polymeric collector with advanced architecture to utilise in the mineral processing industry. Reversible Addition-Fragmentation Chain Transfer (RAFT) co-polymers with cardanol derivatives have the potential to selectively trap valuable metals in the flotation process in a more efficient way. Cardanol exhibits amenability to chemical modification for making tailor-made monomers that can further produce polymers with high value. The synthesis of a series of fit for purpose copolymers in this study was accomplished by RAFT polymerisation. The ability to design complex architecture is a significant advantage in engineering polymeric collectors by RAFT polymerisation. Initially, commercially available cardanol was converted to a cardanol based monomer and copolymerised with commercially available monomers to synthesise a series of novel cardanol based copolymers with predetermined molecular weights. The side groups of the copolymer were chemically modified to incorporate functionality that can be selectively adsorbed on the chalcopyrite surface.

Aug 24, 2022

By K Buda, W Staunton, M Hill, V Tjandrawan

One of the challenges facing the gold industry in the 21st century is the continuing need to identify new reserves of economically treatable ores. Discoveries of large, metallurgically simple orebodies are becoming increasingly rarer, forcing companies to investigate options for the processing of ores which may present recovery, economic and/or environmental issues, requiring innovative approaches to their treatment. Ores which contain naturally occurring carbonaceous material (æpreg-robbing oresÆ) are an example of one such ore type. NewmontÆs Jundee operation contains zones of carbonaceous ore within the oxidised orebody. A program consisting of detailed laboratory work and extensive plant trials has been undertaken to assess the options of the processing of this material. Laboratory tests demonstrated the advantage of carbon-in-leach (CIL) over direct cyanide leaching and carbon-in-pulp (CIP) for treatment of these ores. The laboratory program identified several factors which would enhance overall gold recoveries where preg-robbing ore was being processed, including: keeping preg-robbing ore separate from non-graphitic ore; maximising gravity recovery; and ensuring the plant operates in æpureÆ CIL mode, ie no leaching prior to first adsorption tank. Several plant trials were undertaken to assess the economic sustainability of treating moderate preg-robbing ores through a modified gravity/leach/adsorption circuit. Results indicated that where good operational control of the circuit was maintained to ensure high gravity recovery, minimal leaching prior to carbon contact, and maintenance of good, active carbon inventory, then acceptable and sustainable overall gold recoveries could be obtained. Using these relatively simple plant modifications potentially allows a plant to treat ores with preg-robbing index (PRI) values up to one. When PRI values rise to 1.3 - 1.6, leach recoveries can drop from >85 per cent to

Jan 1, 2007

By Seedsman R. W

Good roads are essential in moving men and materials to and from the underground workplace. Coffey Partners International Pty Ltd (Coffey) has recently completed a underground coal industry funded project on underground mine road construction and maintenance. This paper discusses practical approaches to construction and maintenance of underground mine roads using transferrable civil technologies and innovative techniques. Mine pavements are generally low-cost (relative to civil roads), constructed to varying standards using locally available materials to best meet the mobility needs of the mine. Performance of pavements is thus largely dependent on the environmental conditions, quality of the available road making materials, maintenance policies and available resources. The paper will detail `what causes bad roads?' in various underground environments, available management strategies, construction and water control techniques, road maintenance and vehicle considerations.

Jan 1, 1995

With the advent of the mini computer and the relational database project management has experienced a new lease of life. The project manager no longer has to wait days for his reports, and he doesn't have to thumb through a foot of four part stationery to find that one line of information. The new techniques bring characteristics that are music to the ear of the project team giving them a better chance of bringing the projects in on time and within budget.

Jan 1, 1983

By S Yang, J Wang, J G. Ning

A series of conventional dynamic uniaxial compression (CDUC) tests and coupled static-dynamic loading (CSDL) tests were conducted using a split Hopkinson pressure bar (SHPB) system to explore the dynamic mechanical behaviour and fracture characteristics of medium sandstone on a microscale in the laboratory. In the CDUC tests, the dynamic uniaxial compressive strength of the medium sandstone was rate-dependent, while the dynamic elastic modulus was not dependent on the strain rate. Then, we proposed a generalised model to characterise the rate-dependent strength from 17.5 s-1 to 96.8 s-1. In the CSDL tests, with increasing initial pre-static stress, the dynamic elastic modulus and dynamic strength increased nonlinearly at first and then decreased. The results show that two classical mechanical types (ie Class I and Class II) are observed from the dynamic stress-strain responses of the CDUC and CSDL tests. By means of scanning electron microscopy (SEM), the micro difference of post-loading microfracture characteristics in Class I and Class II behaviour was identified. In Class I behaviour, intergranular fracture (IF) usually initiates at or near the grains, most cracks deflected along the grain boundaries, resulting in a sharp angular edge, then coalesces to the main fracture surface that splits the specimen along the direction of stress wave propagation. In contrast, Class II behaviour results from the combined IF and transgranular fracture (TF).

Nov 29, 2022

By J Rutter, M NoppT

Ridgeway Gold Mine is part of Cadia Valley Operations which is wholly owned and managed by Newcrest Mining Limited. Ridgeway is an underground sublevel cave (SLC) operation mining approximately 5.6 Mt of gold-copper ore per annum. Ore tracking and accounting systems monitor gold and copper grades, copper mineralogy, host lithology and ore sizing. These factors have material impacts on concentrator throughput and metal recovery. Drawpoint recovered grades are routinely reconciled back to design data to monitor and assess draw performance. Grade control at Ridgeway has been based upon sampling the ore from SLC drawpoint bunds using 15 kg grab samples combined to form 30 kg samples prior to assay. This large sample size was selected in an attempt to representatively sample the coarsely-sized broken ore, the samples collected having a nominal diameter of about 130 mm. The assay results for gold and copper from these samples are extremely variable and the usefulness of the results has been questioned by the mine, particularly given the onerous and OH&S hazardous activity of handling large sample masses. Granulometry testwork at Ridgeway confirmed the extent of the relationship of decreasing sample grade variability with particle size. Based on this relationship, drawpoint sampling tests were carried out using 9 kg samples sieved to -45 mm at the drawpoint site. The gold and copper results from the finer 9 kg samples were significantly less variable than those from the normal, coarser 30 kg samples. The variance reduction was similar to that predicted from broken ore sample theory for the selected sample mass and nominal particle size. This relationship therefore allowed Ridgeway to assess the sample mass and particle size required to achieve a particular precision. In addition to improving the precision, the reliability of assay results from smaller samples from the fine particle fraction for drawpoint control depends on the accuracy of the results. The assumption is that the grade of the finer ore is similar to that expected from the lot, or that if a bias exists, then the extent of this bias is acceptable and consistent enough to be accounted for in the grade control system. The distribution of grade with particle size and the reconciliation of drawpoint sample and mine results is currently under investigation.

Jan 1, 2005

Applications of chlorine metallurgy to the extraction of metals often result in the production of volatile metallic chlorides, most of which condense directly to a solid phase at 1 atm pressure. A stirred-bed condenser suitable for the recovery of these materials is described.The unit, developed from the concept of a fluid bed condenser, has the advantages of versatility of operation and ability to control fog and dust formation. Test work using aluminium chloride vapour (as an example of a volatile chloride) gave recoveries approaching 100 per cent. The yield was dependent upon halide content of the vapour, flowrate, and, to a lesser extent, upon coolant temperature. Analysis of the heat transfer dataindicated condensation side coefficients in the range 10 to 30 B.T.U./hr sq. ft. 0p.

Jan 1, 1971

By Z R. Guo, Y Qiu, X F. Wang

Mechanical damage leads to the increase of effective stress of sediments, and pore closure hinders the discharge of methane gas. Ignoring the influence of mechanical damage leads to an excessive prediction of hydrate gas production. Therefore, a fully coupled model considering mechanical damage-chemical decomposition-gas-water two-phase seepage-temperature was developed in this study, and the model was verified by Masuda experiment. Based on the fully coupled model, the temporal and spatial evolution of the whole process of hydrate decomposition under the influence of three initial absolute permeabilities, three pressure drops and three water saturations were considered. The results showed that: • The gas production rate reached the peak value in a short time after depressurisation, and the peak value increased with the increase of the absolute initial permeability. The larger the initial absolute permeability was, the faster the damage variable reached the peak value. The porosity increased gradually before the damage variable reached its peak, and the gas flowed more easily. • When the pressure drop was low, the hydrate remained stable in solid form. As the pressure drop increased, the hydrate gradually began to decompose. The greater the pressure drop was, the faster the initial decomposition rate of the hydrate was. So the damage variable increased rapidly and the porosity increased continuously, resulting in a large gas production rate at the initial stage of decomposition. • The larger the initial water saturation was, the smaller the effective stress wss, resulting in the slow growth of the damage variable and the small change of porosity.While the gas relative permeability was small, it resulted in a smaller gas production rate, and hydrate decomposition was slower. • The damage variable showed a process of rapid growth first, then slowly increased to the peak, and then gradually decreased to a stable state. When the damage was considered, the hydrate decomposition time to the steady state was longer, and the gas production was about 80.68 per cent of that without considering the damage.

Nov 29, 2022

By S Meffre, S Golding, K Zaw, J McPhie, R James, S Suphananthi

The Chatree deposit is located in the central portion of Loei Fold Belt, which extends from Lao PDR in the north through centralThailand to Cambodia in the south. Epithermal gold-silver mineralisation at Chatree occurs as veins/veinlets and stockworks with minor breccia in volcaniclastic and volcano-sedimentary rocks of andesitic to basaltic andesite composition and Permo-Triassic age. This preliminary oxygen isotope study mainly focuses on vein quartz of Au-Ag bearing mineralization (Stage 2) and a few samples of late Stage 4 quartz ¦ calcite veins. Quartz from Au-Ag bearing mineralisation has oxygen isotope values ranging from 8.1 to 12.3ë with the lowest values generally occurring at the deeper level (140 m below the surface). The late barren quartz ¦ calcite veins (Stage 4) tend to have higher oxygen isotope values ranging from 11.9 to 12.0ë. The oxygen isotope composition of the Chatree ore fluids were calculated at 250¦C, 300¦C and 350¦C based on homogenisation temperatures of fluid inclusions. The calculated oxygen isotopic composition of the Chatree ore fluid ranges between -1 and 6ë that overlaps with both meteoric and magmatic compositions. This shift in oxygen isotope compositions may relate to processes such as water rock-interaction and/or mixing of meteoric and magmatic fluids. It is interesting to note that the lowest quartz oxygen isotope values are spatially more or less confined to the prominent structures in the centre of the major ore zones. These structures may have been acted as conduits for higher temperature magmatic fluids. The quartz oxygen isotope values increase outwards from the centre of the main ore zones to the margin of the pits possibly due to mixing of magmatic fluids with lower temperature meteoric water. Whole rock oxygen and hydrogen isotope studies are in progress to investigate isotopic trends in the wall rock away from the ore zone. The systematic variation of oxygen isotopes in quartz from the mineralised veins and adjacent wall rocks could potentially be used as a vector to ore. An EXTENDED ABSTRACT is available for download. A full-length paper was not prepared for this presentation.

Jan 1, 2008

The discovery of nickel sulphide deposits at Kambalda in 1966 heralded the development of ò an industry with a capital value of over $1.5 billion producing about 10% of the western world's nickel. ò an unprecedented exploration boom in which over $200 mil- lion was expended in 10 years in the search for nickel deposits. ò a major new class of nickel deposits stimulating exploration for similar deposits overseas. and rapidly propelled a struggling small mining and exploration company to become one of Australia's corporate giants, provid- ing a much-needed stimulus to economic activity in a region suffering from a severe downturn in its principal industry, gold mining. Production of nickel in Western Australia commenced at Kam- balda in 1967 and grew rapidly to a rate of over 30,000 t of con- tained nickel per annum in 1970, 40,000 t in 1973 and 50,000 t in 1975. Early production was aided by a shortage of nickel on the world market due to disruption of supply from the major Canadian producers, resulting in high free market prices for the metal. Since these early years, the industry has experienced a number of cycles of indifferent health due principally to market developments overseas, although the level of production of nickel in Western Australia remained fairly consistent. The two most serious of these, in 1977-8 and 1985-6, forced the closure of a number of mines. Current nickel prices are allowing remaining producers to enjoy a measure of relative prosperity, although there is little general speculation that this will be long-lived. Nickel deposits discovered in the exploration boom were almost exclusively related to ultramafic rocks. Volcanic peridotite (komatiite)-associated deposits, exemplified by the Kambalda ore- bodies, were the targets of initial exploration which was concen- trated on ultramafic sequences near lower stratigraphic contacts with underlying mafic rocks. Subsequently, discoveries made in coarse-grained dunites in interpreted intrusive settings broadened the search parameters.

Jan 1, 1988

This paper will examine the prospects for Queensland's non-fuel mineral industries as we approach the 21st century. The opportunity for growth is unprecedented. Exploitation of recent discoveries, proposals and developments in downstream processing are predicted to contribute to a doubling of the State's mineral exports to around $10 billion by the year 2000. In 1995 - 96 the value of Queensland's mineral production was $6 billion, comprising $1892 million metallic minerals, $127 million non-metallic minerals and $4 025 million total fuel minerals. For many years Queensland has been among the world's major producers of copper, silver, lead, zinc, bauxite and mineral sands. Recently Queensland has become an important producer of magnesia. Queensland's ability to compete results from its location close to rapidly developing Asian markets, the diversity of its major minerals and an increasing ability to add value to the resources base using competitively priced energy. Northwest Queensland is one of the richest base metal provinces on earth following the recent discovery of five world-class orebodies. Of these deposits, Osborne (copper-gold) has commenced production and Cannington (silver-lead-zinc) and Ernest Henry (copper-gold) are scheduled to be developed by 1997. Century Zinc Limited and the Queensland Government are negotiating with native title claimants on the development of Century (zinc-lead-silver). Expansion is in progress at the Mount Isa copper mine (renamed the Enterprise) and copper smelter and a high analysis fertiliser project may be developed based on Phosphate Hill. Korea Zinc Company Limited has reached agreement to construct and operate a 350 000 Mtpa zinc smelter/refinery near Townsville. There are future expansion prospects for the vertically integrated major industrial mineral operations based on Weipa bauxite and Kunwarara magnesite. Upgrading of the Boyne Island aluminium smelter will require a doubling of alumina consumption. Downstream processing options for Kunwarara magnesite are being investigated and are expected to lead to increases in production and the manufacture of a range of value-added products. At the Yabulu refinery near Townsville, nickel and cobalt production using imported ore is to be increased and a commercial cobalt plant is to be built. Additional opportunities for further processing and manufacturing are associated with proposed new mines at Ely (bauxite), Skardon River (kaolin) and Goondicum (ilmenite). Recently discovered resources of zeolite and perlite also offer exciting development possibilities. Other manufacturing opportunities such as glass and ceramics based on local and plentiful clay and silica sand could replace imports. Silica sand at Cape Flattery is currently exported and production is expected to double.

Jan 1, 1997

Boliden's Aitik open pit mine located in northern Sweden, will expand yearly production from 18 to 36 Mt of copper ore during 2010. The expansion includes a new concentrator located 3 km off the pit, two new apron feeder crushers connected to the ore storages and concentrator with conveyors at a total length of 7 km. The concentrator has two lines with autogenous grinding mills and flotation each with a capacity of 18 Mt. Consequently the mine operation has to be expanded. To achieve this, there was several parallel processes ongoing; investments in new equipment, reorganisations, improvement projects in maintenance and productivity. The Aitik 72 project was started to coordinate productivity and mine planning activities. Initially the long-term strategic mine plan called for a total movement of ore and waste to increase from 40 to 72 Mt but has today increased to 89 Mt. Productivity projects have been focused on load and haul activities such as fuel economics (Renstr÷m, 2007), effective utilisation of trucks partly by increasing manning levels, improved dispatch and shovel utilisation focusing on optimal use of loader/truck fleets. The eco-driving projects previously reported have reduced fuel consumption significantly. This project is also a productivity project, as part of the fuel savings comes from minimising idle engine hours due to queues, break-downs, operator shift changes, etc but also from under and overloading. Effective use of truck fleets, ie transport of material, loading and dumping, thus excluding non-productive engine hours has been an essential motivator when deciding the size and number of new trucks required. This has resulted in a reduction of the investment with at least one but maybe two trucks. A third major project was to optimise shovels together with truck fleet by improving short-term, up to two weeks, detailed planning of drilling and shovel activities. Daily scheduled breaks for maintenance as well as planning of shovel utilisation, down to shift level are included in the production plans. KPIs and online production reports, based on real-time monitoring of drill rigs, shovels and trucks, have been an essential tool used regularly to engage and motivate mine production personal and information reporting to management. Several projects have already reached their goals. The projects will continue throughout 2010 to ensure that productivity targets are met.

May 1, 2010

The difficulty in screening of ores when the moisture contents reach certain critical levels has resulted in mining circuits using wet processes for screening. While this has been acceptable in past years it is no longer acceptable in certain countries and where the mining company is looking to reduce its impact on the surrounding environment.   Various mining companies have been looking at ways to remove the need of using water, with all its inherent drawbacks and to be able to produce its desired products in a dry process.   This would have the benefits of less environmental impact and cost, (due to not requiring wet processing equipment), less power consumption (reduced equipment needed), no corrosion issues, no contaminated waste waters and reduced maintenance activities.   Until recently this has proven elusive or with technical restrictions with current available acceptable technologies for high capacity plants.   One major mining company began seriously exploring ways to overcome this dilemma so that they did not replicate their current ways of operating for their new expansion plans.   They partnered with Metso Minerals to undertake extensive groundbreaking laboratory test work and provide potential solutions as to how to solve this. The laboratory test work proved interesting enough to design, manufacture and test on the actual mining site a prototype screening machine in the circuit.   This break through in screening technology reduces the environmental impact on the area in which the mine is located by: eliminating the storage and use of water, reduction in energy consumption due to having no pumps in the plant, reduction in plant costs and the upstream affects on the environment process used to manufacture and ship the materials the plant structure is built from, and no large tailings dams to take up land space and affect the environment through groundwater/ water table contamination and the negative effects on animals and ecosystems Laboratory test were conducted and a full size machine was installed at the plant site along side conventional machines. The screen size (2.4 m wide x 6.1 long double deck) was determined by the size of screens currently in operation at the mine. The parameters that were explored were: types of screen surface (polyurethane, woven wire etc), types of screen motion (linear, circular or elliptical), angle of motion ( 40,45,55,60 degrees etc), and throw (amplitude), speed and 'g' force.

Jun 1, 2010

Solid EnergyÆs project evaluation process utilises a standard staged gate approach, with five levels leading ultimately to project execution (level 6). For a project to progress through each level, specific financial criteria need to be satisfied. Solid Energy primarily use value based (discounted cash flow) metrics to support investment decisions. Within this approach Solid Energy utilise a number risk-based techniques to quantify project uncertainty. This includes the use of risk-based probabilistic analysis using Monte Carlo simulation and probability-based scenario analysis. Figure 1 shows the net present value (NPV) cumulative probability. Project risks are identified through comprehensive risk workshops. The output of these workshops (list of key risks, ranges of uncertainty and probability of occurrence), is quantified within the financial models. Incorporating this risk information on a probabilistic basis allows an investment decision to be made with a robust knowledge of the range of possible project outcomes along with the likelihood (probability) of those outcomes occurring, for example 80 per cent confidence that the project value will be greater than NZ$10 M, 50 per cent confident it will be greater than NZ$50 M and ten per cent confident it will be greater than NZ$70 M. Incorporating risk implicitly into the financial analysis allows the business to easily evaluate/measure projects with different risk profiles. The detailed risk analysis does away with the complexity of arbitrary risk-based hurdle (discount) rates, as projects can be evaluated based on their specific risk characteristics. Whether a project will progress to the next level of investment and ultimately into implementation depends firstly on the value assessment in comparison with the associated risk/uncertainty, and secondly matching this with the businesses appetite for risk. At Solid Energy standard criteria are used for specific project evaluations, but in addition projects are considered on a portfolio or strategic basis also. Solid Energy attempts to maintain a mix of low risk (low value) projects with some high risk (high value) opportunities. The mix of projects must remain in line with the shareholdersÆ risk appetite. One of the keys to a successful investment decision is ensuring that the appropriate information is available to decision-makers so that they may proceed with a comprehensive understanding of the risks and impacts associated with the decision.

Jan 1, 2007