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By T. Celik, B. Genc, C. Musingwini

"This paper discusses a new methodology for defining and measuring mine planning software utilization in the South African gold mining sector within an evolving data-set framework. An initial data-set showing the mine planning software providers, their corresponding software solutions, as well as the software capabilities and information on the number of licences was collected and compiled in 2012 in an online database for software utilized in the South African mining industry. Details of the database development and implementation were published in the Journal of the Southern African Institute of Mining and Metallurgyin 2013. In 2014 the data-set was updated with additional and new information. Using the 2012 and 2014 timestamps, a methodology for estimating the software utilization was developed. In this methodology, the three variables of commodity, functionality, and time factor were used to define and measure the software utilization in order to ultimately inform decision-making strategies for optimal software utilization. Using six different functionalities, namely Geological Data Management, Geological Modelling and Resource Estimation, Design and Layout, Scheduling, Financial Valuation, and Optimization, utilization in the gold sector was measured. This paper presents the methodology employed for measuring the mine planning software utilization. The methodology is useful for stakeholders reviewing existing software combinations or intending to purchase new software in the near future and who want to estimate the comparative attractiveness of a certain software package. These stakeholders include mining companies, consulting companies, educational institutions, and software providers. The work presented in this paper is part of a PhD research study in the School of Mining Engineering at the University of the Witwatersrand."

Jan 1, 2015

By P. R. Brenchley

Main ore pass systems should last the life of a mine, and too often expensive and hazardous remedial measures are required to repair a damaged ore pass in an attempt to extend its life. In order to maximize the life expectancy of all ore passes at Moab Khotsong, ?wearing blocks? and ?softer support? systems, combined with basic rock engineering principles, have been implemented. Failure of an ore pass can have severe financial implications, both indirectly because the ore pass cannot deliver the broken rock either from level to level or directly in the shaft ore pass system to the required level for tramming to take place, and directly due to the cost of the repair work that is required. Several factors need to betaken into consideration so that production interruptions are eliminated or minimized. Investigations of damaged ore passes at Moab Khotsong and surrounding mines revealed some interesting mechanisms of damage, and some innovative methods of reducing or eliminating the damage have been implemented at Moab Khotsong. The system design was based on 30 years, experience in main shaft rock passes. The design was to counteract scaling, hang-ups and dust problems associated with main rock passes, and the objective was to increase the life of rockpasses. These problems, including the initial design aspects to try and eliminate the repair measures, are discussed in detail.

Jan 1, 2006

By Q. G. Reynolds

The presence of dust and fume suspended in the freeboard region is a common feature of the operation of direct current (DC) plasma smelting furnaces. This occurs primarily as a result of the use of fine feed materials together with the open-arc, open-bath operation of such smelters, and is exacerbated by the high velocities and turbulent mixing of the gas in the vicinity of the arc jet. Dust and fume losses into the furnace off-gas system can be significant in some cases and may have economic, operational, and environmental impacts on the process. A computational modelling study is presented in which the concentration of dust material was considered as a continuous field subject to a governing partial differential equation. Settling behaviour was calculated as a function of particle size, local gas/plasma temperature, and other physical properties. Development of the coupling between the concentration field and a magnetohydrodynamic description of the arc is shown, and the resulting models were used to compute various aspects of the behaviour of the concentration field in the arc region for a variety of furnace conditions. Time-averaged as well as transient models of the arc were used to generate the results presented. Qualitative case studies produced several practical suggestions for furnace operation, including increased dust capture by the bath when feed ports are located closer to the electrode, and the possible effects of feed segregation in the furnace freeboard based on dust particle size and density.

Jan 1, 2015

By Ishwinder Grewal, Michael Fullam

Many factors affect the overall performance of a gravity circuit beyond that of the primary gravity recovery device. It is critical to examine the gravity circuit in its entirety in order to determine the dominant operating variables that affect overall performance. Knelson has developed a mathematical model which has been used to assist in the design of gravity circuits, and in particular, in making accurate predictions of plant scale gravity recovery. More recently, inclusion of recovery by particle size class and additional data from various mine sites and research studies has made the model more robust. The model is now able to predict GRG (gravity-recoverable-gold) recoveries using various devices such as centrifugal concentrators, shaking tables, jigs and flash-flotation within the grinding circuit. The benefits derived by these recent advancements in modeling capability are two-fold; the first is as a tool to assist in circuit design and correct equipment selection and the second is as an analytical tool to help to evaluate and enhance the performance of existing gravity circuits.

Jan 1, 2006

By P G. Gaylard

The minerals Industry carries out over US$ 2 billion of R&D annually. The R&D is performed at three levels ? in house research facilities; on a one-on-one basis with a research provider; as syndicated (collaborative) research. The key to a successful R&D programme is project selection. It is suggested that at this time of ?bounty? for the minerals industry the research portfolio should contain some ?blue sky? but potentially long term significantly beneficial projects. This said, the projects should align the technical concepts with the business imperatives. AMIRA has found the ?Road Map? concept has assisted in defining areas for R&D. Examples of this methodology using a Copper Road Map developed by AMIRA for the copper producers operating in South America is presented. The benefits derived from syndicated research are also discussed.

Jan 1, 2007

By R. Lombard

"Water is a very important component in the production process at underground coal mines. Current unfavourable economic conditions have forced the coal mining industry to identify and address every possible bottleneck preventing optimal production. An increase in water-related downtime was identified as one of the bottlenecks at Goedehoop Colliery’s Vlaklaagte Shaft. The purpose of this project was to identify the various causes that contributed to the high downtime (501 hours in 2013, which led to a potential profit loss of R12.9 million) and to suggest possible solutions.After a thorough investigation the main causes of water-related downtime were identified as low water pressure and low water flow caused by pipe leakages and bursts. The main root cause for the low water flow and pressure was identified as being the low pressure resistance (1600kPa) of the thin-walled galvanized steel pipes used in the underground inbye water reticulation system. The pipes were selected according to the previous 1000 kPa pressure requirement for the continuous miner. However, the pressure requirement changed to 1500 kPa, which resulted in the pipes being exposed to much higher pressures than designed for.The water reticulation system was reviewed and current and future underground pipe layout and water requirements were determined for the shaft. The time frame in which the water consumption would be the highest was determined to be between 1 January 2014 and 7 September2014. Machine and sprayer specifications were used to determine theater consumption at the shaft. Three different solutions were considered to solve the water-related downtime problem and to ensure the efficient supply of water to the newly open sections. Permanent underground concrete dams, semi-mobile dams, or new pipe columns with a higher pressure resistance of 3200 kPa were considered. A trade-off study (taking into consideration cost, time to completion and ease of implementation, maintenance requirements, safety, and flexibility) was completed to determine which of these solutions would be most viable.Paper written on project work carried out in partial fulfilment of B. Eng. (Mining Engineering)"

Jan 1, 2015

By P. J. Knottenbelt

Outcomes from a workshop organized through the SAIMM revealed that the minerals and metals industry must develop its ?Engineering Team? if it is to continue to meet the challenges of globalization. The very economy of the country is largely dependent on a competitive and stable engineering team within the minerals and metals sector. With the Chamber of Mines (COM) passing on its education and training initiatives to the industry, the professional bodies like SAIMM must (despite meagre resources) continue the good work done through the COM in the past. The workshop highlighted recruitment and selection, further/higher education, socialization and initial training, deployment and retention and continuing education as priority areas. These are further detailed in this report. Office Bearers have considered the outcomes and the areas where the Institute should or should not be involved have been stated.

Jan 1, 2002

By M. K. Elmouttie, G. V. Poropat

Mapping of exposed rock walls provides data on geological features such as joints, bedding planes, faults etc critical to the economics and the safety of mine operations. Traditional, manual methods of mapping can be time consuming, error prone and limited in their coverage. New methods have been developed to map exposed faces remotely and safely however the benefits of these methods are only fully realised when exposed structures can be quickly and easily mapped using automated methods. This paper describes the application of an automated method of analysis of 3D images that provides users with the capacity to map exposed structures automatically. The method is based on the use of vector classification methods used in some neural network systems and provides rapid and reliable identification of exposed planes. CSIRO Exploration and Mining is applying these methods to 3D images for a range of applications from pit mapping to machine automation.

Jan 1, 2006

By G. E. Blight

Wind erosion can be a major cause of the loss and dispersion of tailings material from a tailings dam into its surrounding environment. Such dust dispersion can be a serious nuisance, as well as a health hazard to inhabitants in nearby settlements, and can also damage the health of animals, degrade crops, making them less marketable, and cause soil and water pollution. The problem of wind erosion can affect tailings dams in all types of climate, but becomes worse as climatic aridity increases. Because clouds of dust are often observed billowing across the top surfaces of tailings dams in dry windy weather, there is a common misconception that the dust arises from wind erosion of the top surface. As a result, much effort and money is vainly spent on treating the tops of tailings dams to prevent dust generation, whereas the slopes of the dams are the true major dust source. This paper briefly reviews what is known of erosion of tailings dams and then proceeds to describe the mechanics of wind erosion in general, and how it affects tailings dams in particular. Finally, recommendations are made for mitigating wind erosion of tailings dams and the resulting blowing dust.

Jan 1, 2007

By L. Malmgren, A. Ansell

This paper deals with the influence from blast induced stress waves on the performance of shotcrete support in the Kiirunavaara mine. Time histories of stress waves from blasting were obtained from measurements during production blasts in the mine, followed by failure mapping. A finite element model, consisting of beam and spring elements, was used to calculate the shotcrete response to vibrations from blasting. The modelling approach was similar to that of a building during an earthquake, with accelerations measured in-situ used as loads. The analysis showed that the calculated adhesive stresses exceeded the strength in the interface between rock and shotcrete near to the blasted ring. It also indicated that tensile rock failure did occur. These types of failure will presumably result in ejection of joint defined rock blocks or rock slabs and will require a ductile support, such as fibre reinforced shotcrete. The predicted failure was confirmed by the mapping, which also showed that the zone of failed shotcrete was much larger in areas with plain shotcrete compared to areas with reinforced shotcrete. L’influence de l’onde de pression générée par les sautages à la mine de fer de Kiruna sur la performance du béton projeté est étudiée dans le présent article. Les ondes créées par les sautages ont été enregistrées et les domages résultants ont été cartographiés. La réponse du béton projeté aux vibrations de sautage est étudiée à l’aide d’un modèle d’éléments finis, constitué de poutres et de ressorts. L’approche est similaire à celle d’un immeuble subissant un tremblement de terre, avec les accélérations internes utilisées comme charges. L’analyse montre qu’à proximité des sautages, la contrainte adhésive dépasse la résistance de l’interface roche-béton. L’analyse confirme aussi l’existence de ruptures en tension. Ces types de rupture induisent probablement l’éjection des blocks définis par les structures du massif rocheux et requierent un support ductil, comme du béton projeté renforcé par exemple. Le type de rupture est confirmé par les observations de terrain, qui montrent aussi une extension plus importante des domages lorsque le béton projeté n’est pas renforcé. In diesem Konferenzbeitrag geht es um den Einfluss, der aus einer Sprengung hervorgerufenen Schwingungswellen auf die Ausführung der Spritzbetonverstärkung in dem Kiirunavaara Bergwerk. Die Aufzeichnungen der Schwingungswellen von Sprengungen gemäß einer Fehlerkartierung beziehen sich auf Messungen, die während der Sprengungen durchgeführt wurden. Ein Finite Elemente Modell, bestehend aus Stab- und Federelementen, wurde für die Berechnung der Spritzbetondeformation in Bezug auf die Schwingungen aus Sprengungen angewendet. Die Modellierungsmethode war ähnlich der eines Gebäudes während eines Erdbebens anhand der gemessenen Beschleunigungen vor Ort, die als Lasten benutzt wurden. Die Untersuchung hat gezeigt, dass die berechnete Haftspannung größer war als die Festigkeit in der Verbindung zwischen Gestein und Spritzbeton in der Nähe des Sprengungscentrums. Die Analyse hat gezeigt, dass die Zugfestigkeit des Gesteins versagte. Diese Arten von Versagen werden als Folge der Herausnahme von Gesteinsbrocken oder Gesteinsplatten erklärt und benötigen eine faserverstärkte Spritzbeton. Das vorausgesagte Versagen bestätigte sich beim Kartieren, welches auch zeigte, dass die Zone des versagenden Spritzbetons in Bereichen mit unverstärktem Spritzbeton viel größer war als in Bereichen mit armierten Spritzbeton.

Jan 1, 2003

By K. N. Karparov

The classical limit equilibrium methods are suspected to be ineffective in predicting the potential for highwall failure in many instances in coal mines around the world. Slope engineers have for many years recognized a block thrust failure mechanism for slope failures, but little work had been done before 2000 to explain the actual mechanisms which must be responsible for the failure. The main reason for this is that limit equilibrium methods implicitly assume rigid blocks, and the resulting force equations must be satisfied everywhere simultaneously for them to have any meaning. This paper will show that the material involved in the slope failure is not rigid; indeed it undergoes considerable permanent deformation during failure. This observation allows the authors to treat the block boundaries independently, because they need not maintain a constant spatial relationship with one another, as is assumed in other methods. To enable analysis of this type the authors assume that the weight of the blocks is evenly distributed. This is reasonable, because the slope material is not strong enough to be self-supporting without some sort of constraint, or strong enough to be able to apply point loads to the surrounding material. The purpose of this paper is to extend the practical application of the analytical method developed from mechanism studies to provide an objective assessment of the risk of slope failure, and therefore guidelines for more stable slope designs. This work is based on studies carried out on two failures in an open pit coal mine in South Africa, and provides a methodology to assess the potential for failure more objectively than is possible with currently accepted methods, while at the same time remaining sufficiently simple to allow a ?back of the cigarette box? assessment by geotechnical engineers on site.

Jan 1, 2009

By N. B. Devi

The extraction of copper(II) from sulphate solution was investigated using LIX®984N in kerosene. The parameters that could affect the extraction, such as equilibrium pH, extractant concentration, salt concentration, various diluents, and temperature, were separately investigated. On the basis of slope analysis, the complex formed in the organic phase is proposed to be CuR2, where R is the anionic part of LIX®984N. The extraction equilibrium constant and Gibbs free energy ( G) of the extraction process were determined. The positive value of H obtained from temperature variation studies showed that the extraction process is endothermic. The extraction of copper was lowest when chloroform was used as the diluent. Separation and recovery of copper from a synthetic copper-nickel solution containing 6.35 g/L Cu(II) and 0.58 g/L Ni(II) was carried out using 20%(v/v) LIX® 984N. The separation factor ( = DCu/DNi) was found to be pH-dependent. A two-stage batch countercurrent extraction was carried out at an O:A ratio of 3:4 at equilibrium pH 1.05 for extraction of copper from copper-nickel solution, followed by copper stripping from the loaded organic phase with 15% H2SO4 at an O:A ratio of 3:1.

Jan 1, 2014

By D. A. Spencer, L. J. Gardner

In light of the apparent productivity benefits provided by mechanised stoping, Impala Platinum Limited commissioned a study to investigate its possible implementation for mining reserves located 1200 – 1700 m below surface. This paper records the methodology employed for designing a support system for such mechanised mining, as well as initial conclusions of the work done. Preliminary results show the concept to be technically feasible; work was however stopped due to financial non-viability. En considération des bénéfices de production apparents que donne l’exploitation par gradins mécanisée, Impala Platinum Limited a commissionné une étude visant à examiner sa mise en œuvre possible pour des réserves minières situées à 1200 – 1700 m sous la surface. L’étude présente rapporte la méthodologie employée pour créer un système de support pour ce genre d’exploitation mécanisée, ainsi que les conclusions initiales de ce projet. Les résultats préliminaires montrent que le concept est techniquement faisable ; cependant le travail fut arrêté à cause de difficultés de rentabilité. Im Licht des offensichtlichen Produktivitätsnutzens auf Grund mechanisierten Stossbaus, kommissionierte Impala Platinum Limited eine Studie, die dessen mögliche Implementierung für den Abbau von Reserven 1200 - 1700 m unterhalb der Oberfläche untersuchen soll. Dieses Elaborat dokumentiert sowohl die Methode die für das Design eines Unterstützungssystems für eine derartige mechanisierte Abbauweise angewendet wird als auch die anfänglichen Konklusionen der geleisteten Arbeit. Anfängliche Resultate zeigen daß das Konzept technisch durchführbar ist; die Arbeit wurde jedoch wegen der finanziellen Nichtrealisierarkeit gestoppt.

Jan 1, 2003

By J. P. Josien, J. F. Noirel, F. Lahaie, P. Bigarre, M. Al Heib

ABSTRACT: In June 2001, a fatal rockburst affected a longwall face in the Houillères du Bassin de Lorraine (HBL), France. Subsequently, a large operation of in situ stress measurements by overcoring was carried out with two main objectives: providing input data for the back analysis of the dynamic event and characterising the stress field in the next panels to be mined for identifying other potential high-risk zones. This paper makes a synthesis of the results of the overcoring tests performed and discusses those results in connection with the mining context, numerical model predictions, laboratory rock test results and microseismic activity. KEY WORDS: Mine, rockburst, stress, overcoring, measurement. ZUSAMMENFASSUNG: Im Juni 2001 hat ein Bergschlag eine Kohlengrube des Houillères du Bassin de Lorraine (HBL, Lothringen, Frankreich) schwer beschädigt. Nach diesem Unfall sind Spannungsmessugen durch Überborung durchegeführt worden, mit zwei Hauptziele : 1/ Daten zu liefern für die Retro-analyse des dynamischen Gebirgsschlag und 2/ die Spannungen in den zukünftigen Ausbauen so gut wie möglich zu charakterisieren, um eventuele andere Risikozonen festzustellen. Dieser Artikel stellt eine Synthese der erzielten Ergebnisse vor. Er diskutiert diese Ergebnisse in Verbindung mit dem gesamten Kohlengruben Zusammenhang, mit den Ergebnissen von numerischen Modellierungen, mit der Labor-Charakterisierung und mit der microsismische Überwachung. SCHLÜSSEL-WÖRTER: Kohlengruben, Bergschlag, Spannung, Überborung, Messung. RESUME: En Juin 2001, un coup de terrain a gravement affecté une longue taille aux Houillères du Bassin de Lorraine (HBL) en France. A la suite de cet accident, une importante campagne de mesures de contraintes par surcarottage a été réalisée, avec deux objectifs majeurs : fournir des données d’entrée permettant la rétroanalyse du phénomène dynamique et caractériser au mieux le champ de contraintes dans les futurs panneaux exploités afin de détecter d’éventuelles autres zones à risque. Cet article présente une synthèse des résultats obtenus, et discute ces résultats en liaison avec le contexte d’exploitation, les résultats de modélisation numérique, de caractérisation en laboratoire et de surveillance microsismique. MOTS CLES: Mine, coup de terrain, contrainte, surcarottage, mesure.

Jan 1, 2003

By M. Moseki

Paper written on project work carried out in partial fulfilment of B.Sc. (Eng.) (Metallurgy of Materials) degree This paper presents the research into melting of scrap for job creation purposes in rural areas. The research was done on behalf of Mine Recycling Services (MRS), the company that will implement the project. The project involves the research into available cost effective and easy to operate technology. The paper covers the experimental and theoretical work that was conducted. The results were used to determine the best equipment and method for melting and casting brass scrap.

Jan 1, 2002

The unpaved road network on a surface mine is extensive, comprising numerous roads of varying construction and material qualities with highly variable traffic volumes. Existing haul road maintenance management systems (MMS) work well for predictable traffic volumes, but for complex mine road networks, the MMS becomes onerous. This results in sub-optimal road maintenance strategies with the attendant increase in total road-user costs and reduction in service. A real-time maintenance management system was thus sought to overcome the deficiencies of existing MMS for mine roads. Since most large mines operate trucks with on-board diagnostic data collation, linked through a centralized communication and GPS backbone, it was proposed that road condition could be monitored on a real-time basis through on-board vibration signature analysis. The aim of this paper is to present the development of a real-time mine haul road maintenance management system. Following are view of mine road maintenance practices, the real-time system architecture is introduced and the results of a field trial of on-board vibration signature assessment is presented. The trial results are discussed in the light of road defect signature recognition, analysis, signature repeatability and system limitations. This approach has applicability to other situations such as a network of district roads, subject to an analysis of the economic feasibility. The paper concludes that modern technology has the potential to apply maintenance as and where needed with possible reductions in authority cost and an improvement in service provided for the road user.

Jan 1, 2003

By G. S. Hansford, J. W. de Kock, C. D. Levy

Rheological measurements on pulps from South African gold mines by G. s. HANSFORD, Ph.D. (Pennsylvania), M.Sc. (Cape Town), C. D. LEVY, B.Sc. (Eng.), and J. W. DE KOCK, Ph.D. (Cantab.), B.Sc. (A.I.C.) (Visitors) A method is described for the determination of the rheological parameters of a fast-settling slurry with conventional viscometric measuring equipment. The effect of concentration, temperature, and pH on these parameters is investigated. The results agree with those obtained by previous workers using different viscometers, but this method allows a more detailed characterization of all the properties. From a literature survey, two semi-empirical equations were found that allow the effect of concentration, temperature, or pH on the rheological parameters to be correlated.

Jan 3, 1976

By A. Bascetin

One very important aspect of mining is deciding what material in a deposit is worth mining and processing, versus what material should be considered waste. This decision is summarized by the cut-off grade policy. The cut-off grade strategy for an open pit mine influences the annual cash flows and affects the net present value of a project. The optimization of cut-off grade strategy requires the knowledge of detailed operational costs, mining sequence, mining operation, processing, and product constraints, as well as the grade distribution of a given deposit defined by pit, phase, and different material types. Cut-off grade optimization algorithms have been developed in the past. The most common criteria used in cut-off grade optimization is to maximize the net present value (NPV). This paper describes the determination of a cut-off grade strategy based on Lane?s algorithm adding an optimization factor based on the generalized reduced gradient (GRG) algorithm to maximize the project?s NPV. The introduced algorithm is a windows based program developed at Virginia Tech that is based on a series of Visual Basic routines within a spreadsheet environment (Excel).The benefits of the methodology are demonstrated using a hypothetical case study. Keywords: Cut-off grade optimization, net present value maximization, generalized reduced gradient algorithm method.

Jan 1, 2007

By C. Ringas

Pipelines are used extensively in industry to convey various products. Internal corrosion of pipelines can lead to perforation and leakage of the product. A growing problem, not often accurately recognized, is internal corrosion of pipelines caused by bacteria. Microbiologically-induced corrosion (MIC) refers to corrosion caused by a variety of micro-organisms. This form of corrosion is not widely recognized in many industries, although it is widespread and causes many corrosion problems in pipelines, both internal and external. Sulphate-reducing bacteria (SRB) are responsible for the bulk of the corrosion problems caused by MIC. Corrosion caused by SRB is found extensively in water pipelines conveying raw, potable and waste water, as well as in pipelines conveying slurries. This problem also occurs in pipelines conveying crude oil. This paper describes internal corrosion problems of slurry pipelines caused by bacteria and outlines mitigation methods to improve slurry pipeline integrity, thereby extending the life of such pipeline

Jan 1, 2007

By C. Hutton

"SynopsisThe last commodities supercycle (2003 to 2011) was characterized by a belief in volume at any cost, where absolute output was deliberately prioritized over productivity considerations. This practice fuelled overoptimistic forecasting and planning, which in turn contributed to the economic crisis that followed. The sudden collapse of commodity prices has resulted in mining companies scrambling to find the right balance between optimizing current operations and preserving sufficient flexibility to grasp future opportunities. The runaway costs of building and operating mines have almost squeezed out profit margins, while lower ore grades are inflating production costs. Mining companies therefore need to look at the business with fresh eyes, and develop strategies to attract equity capital as traditional approaches are simply not working anymore. This is especially so in the context of a dwindling investor base that continues to demand greater returns, despite a significantly lower appetite for risk. This paper revisits the micro-economic concepts and demonstrates how pressure from shareholders to prioritize output contributed to spiralling costs and value destruction. Practical techniques are described to model cost curves to optimize a Mineral Resource endowment and address the need to rightbalance a business and preserve agility.IntroductionHenry Lazenby (2014) for the Mining Weekly writes, ‘Bruised and battered, the global mining industry today is undergoing a sea change. Practices and policies that might have worked wonders in the past are not as relevant today, and new approaches to running profitable mining operations need to be found.’ One significant practice the mining industry had during the last commodities supercycle (2003 to 2011) was chasing volume at any cost; absolute output was deliberately prioritized over productivity considerations (Goldsmith, 2013). Lazenby contends that in the face of falling and volatile commodity prices, many mining majors ‘across all commodity groups are currently grappling with sagging profits and low company valuations. This is often regarded as the result of the were in pursuit of growing their output at all costs in a high commodity price environment.’ Lee Hodgkinson, KPMG’s Canadian mining industry leader and quoted by Lazenby, says that ‘mining companies are now trying to find the right balance between optimizing current operations and preserving their agility to grasp future opportunities. The runaway costs of building and operating mines have almost squeezed out profit margins [whilst] lower grades of ore are inflating production costs. Mining companies need to look at the business with fresh eyes, and develop strategies to attract equity capital as it seems clear that some of the traditional approaches to the mining business are simply not working anymore."

Jan 1, 2015