Search Documents

The theme of this paper is the development of-the project feasibility study which includes discussion of the work which is carried out in preparing the project feasibility study, the necessary evaluations and structures that are employed to ensure that not only does the feasibility study itself stand up to scrutiny and is sound, but also that the investment the company is proposing to develop, "the project", is an investment decision which will represent good returns to the company. This theme is particularly relevant when there are competing divisions within the company and only limited cash resources are available to make the correct investment decision. Thus various potential investments may be evaluated against each other to determine which project will be given the go ahead for development. This paper will particularly focus on the various investment analysis techniques that are used and discuss the work that is required in preparing the project feasibility study and specifically the interaction of the project team members and the thought process that must be undertaken to complete the project feasibility study. Finally comments will be made on tax planning issues particularly with respect to taxation of gold production to be introduced in January 1991. Some ideas are presented which may help and possibly improve the financial position of the projects being reviewed. Further, it is suggested that the thought process which goes with the financial engineering aspects of a resource project can be widened to take account of taxation issues and tax planning to ensure the rise of the project feasibility and hence the decision to proceed to development by the project sponsors.

Jan 1, 1990

Ferruginous manganese deposits have been known at Ripon Hills since the late 1950s. The main group of deposits occur in an area 6 km by 5 km and these were extensively investigated by Longreach Metals N.L. during1971 and 1972 for possible commercial exploitation.Ripon Hills is a dissectcd fault plateau 350 m above sea level formed by the uplift of a block of gently dipping Proterozoic shales, cherts, and dolomite. The plateau consists of chert breccia which is underlain by massive dolomite. The shales which are ferruginous and manganiferous overlie the chert breccia but are now only preserved, in places, in the broad depression and valleys of the plateau.The ore deposits occur as supergene replacement of the shales and were investigated by geological mapping, grid percussion and diamond drilling, and bulk beneficiation testing. Iron and manganese oxides erraticallyreplace Shale accompanied by the leaching of other minerals. The ore is composed of fine grained pyrolusite intergrown with fine grained hematite and locally containing extensively altered bixbyite and braunite. Thegangue mineral is mainly kaolin.The average grade, using a 15 per cent Mn cutoff, was 19 4 per cent Mn and 25·9 per cent Fe for a combined drill-proven, indicated, and inferred tonnage of 56,000,000 tonnes. The average depth of this mineralization from the surface is 11 m. Using a cutoff grade of 20 per cent Mn the average grade was 24·6 per cent Mn and 23·0 per cent Fe for a combined tonnage of 12,000,000 tonnes to an average depth of 8 m.The substantial drop in reserves occurs because a high proportion of the mineralized material contains less than 20 per cent Mn.It was shown that whereas the lower grade ore, despite erratic fluctuations in grade, could be beneficiated to specification grade by crushing, screening, and conductivity ore sorting, the higher grade ore could be beneficiatedto specification grade by crushing and screening only. The utilization of the higher grade ore was considered to constitute a more viable operation.There is potential for high grade manganese ore to be discovered in the Ripon Hills area at the contact of chert breccia and underlying dolomite.

Jan 1, 1977

The kinetic and practical aspects of the extraction of copper from copper-rich solutions by cementation on iron was investigated. Tests were made on the effect of stirring speed, cupric sulphate concentration, acid concentration, temperature, and ferric sulphate concentration on the reaction rate and excess iron consumption.Most kinetic investigations were conducted under a nitrogen atmosphere to prevent any oxidation of the iron or copper metals. The stirring mechanism for all tests incorporated the use of a rotating impeller above a static disc in the solution. The activation energy for cementation on the steel disc at high stirring speed was 8·6 kcal/mole, indicating a predominant chemical control.Increasing the pH first decreased, then above pH 3, increased the reaction rate. Additions of sodium sulphate also significantly increased the reaction rate.The use of high temperature and high pH under an inert atmosphere has been suggested for increasing the reaction rate and producing a high purity sponge copper product.

Jan 1, 1972

This paper describes the new legislative regime that will apply to the regulation of the minerals industry in New Zealand. The reform of New ZealandÆs minerals legislation was initiated in January 1988 when the Minister for the Environment, Rt Hon Geoffrey Palmer, announced the Governments intention to review all the major laws governing New ZealandÆs resources. The Resource Management Bill is scheduled for introduction to the House in December 1989 and its date of enactment is scheduled for June 1990. With some matters still to be determined (at the time of writing), this paper cannot be a definitive review and description of the new legislation, it is instead an attempt to outline the major features of the Bill, to date, that are seen as important to the mining industry.

Jan 1, 1990

By D. R. Brox, J. Levell

The Montana Tunnels Mine was mined out to a depth of 900 feet at the end of 1999. The first signs of instability were recognized in 1996 along the upper slope area of the northwest sector when the pit was mined out to a depth of approximately 500 feet. To extend the life of mining operations, it has been proposed to extend and steepen the northwest highwall to a depth of 1000 feet. Slope stability analyses were carried out using the UDEC software program to assess the stability and deformation of the proposed highwall design. Back analysis of an instability in 1997 along the upper slope section and highwall deformation to date has indicated reasonable agreement with the observed mode of failure and displacement monitoring results. The results of detailed analyses of the proposed highwall design have indicated very limited additional deformation, further development of tension cracks is unlikely and large-scale instability is not expected to occur. A total of 40% of additional mining has been completed and ongoing displacement monitoring to date has confirmed very limited additional movement and no further tension crack development.

Jan 1, 2001

By M. Kahn

This paper traces the rise of South Africa's mining industry in the context of the different state forms that oversaw its development. It commences with the mining-led industrial revolution through four periods of conflict, each of which contributed to a deepening of the industrial base, with constant battles between domestic and foreign capital and labour, and the rise of both Afrikaner and African nationalism. The role of state-owned enterprises has been crucial in shaping this dynamic so that at its peak the public sector and leading mining houses constituted two massive centres of power. This was followed by a thirty-year period of neo-liberal experimentation. The current debate on the 'developmental state' is an attempt to reconstruct the state as a counterweight to capital. It is argued that while the country has moved toward inclusive political and economic institutions, these are both limited by deep 'extractive' characteristics. This transformation failure provides a fertile ground for populism that presents one of the biggest threats to inclusive growth. Cited examples point to the many ways that states have sought to deal with the bonanza that conversion of mineral non-resources into resources brings. Such greenfield resources on state land, or in areas where the state holds monopoly rights, do not present ownership issues. It is suggested that this is the route that South Africa should follow, as the alternative will be conflictual.

Jan 1, 2013

By A. Bothma

The Impala No. 1A ventilation shaft is located approximately 15 kms north of Rustenburg and is accessed via the R510road from Rustenburg to Northam/Thabazimbi. This situation is shown on the location plan in Figure 1. The geology at the site consists of an upper layer of black turf of about 1 metre in thickness, grading into weathered norite. The depth of weathering is generally less than 5 metres. Zones of deeper weathering may occur along fracture zones associated with faults and dykes. Groundwater occurs mainly within the weathered/fractured aquifer system. The ventilation shaft is a 5.1 m diameter upcast shaft ,and forms part of a system of ventilation shafts to complement the existing infrastructure as mining progresses down the new twin decline extension of Impala 1 shaft. The principal reason for these shafts is to lessen the risk of an extended RAW and also to counter the effects of the heat build-up as the mining goes deeper, with the resultant effect that the existing cooling centre (fridge plant) becomes more remote from activities. The No. 1A shaft (upcast) is positioned approximately 1,2 km on down dip from the main shaft and the No. 1Bshaft (downcast) approximately 1,2 km further. Geological information was used from a borehole 1,2 km away on strike from the upcast shaft. The first shaft (1A) is a 5,1 m diameter hole to be fitted with two 2,2 MW fans, whilst the second shaft (1B) is 4,1 m diameter to accommodate a 7MW fridge plant.

Jan 1, 2001

By Adrian Coombs, Paul Magowan, Derek Zoldy

Continued development and intensification are fuelling the urgent need for new trunk infrastructure within The Regional Municipality of York and throughout the Greater Toronto Area. Permitting of these projects is increasingly subject to public scrutiny to severely restrict dewatering through construction technologies and the requirement for a comprehensive and effective Environmental Management Plan. Three current projects: one on the York Durham Sewage System and two in the City of Toronto 1.Conventional Design, Tender, Award: 4,150m (13,600 ft.) 2.7m (9 ft.) finished interior diameter soft ground tunnel for York Region’s YDSS Interceptor Trunk Sewer 2.Negotiated Contract: 3,800m (12,500 ft.) 3.5m diameter (11.5 ft.) rock tunnels for Enwave’s environmentally sustainable and innovative chilled water system in downtown Toronto 3.Conventional Design, Tender, Award: 2,200m (7,200 ft.) 3.3m diameter (10.8 ft.) rock tunnel for reinforcement of Hydro One’s primary hydro feed in the downtown core of Toronto These projects exemplify issues such as: EPB tunnel and sealed shaft technologies Substantial permitting requirements associated with dewatering Mitigation of rock creep Congested downtown rights-of-way Deep shafts and confined working compounds Unique scheduling and cost benefits when Owner, Contractor and Consultant can work together cooperatively.

Jan 1, 2007

By Prosser A. P

The conditions under which vanadium is rendered insoluble by silica in the alkali-roast process have been investigated starting with both slag and reagent-grade materials. The inert phase is a glass formed slowlyfrom soluble NaV03 produced at lower temperatures. It contains approximately 30 per cent V in a partly reduced state; iron is not a principal component. Some of the vanadium in the inert phase is slowly returned to a soluble form by heating in an oxidizing atmosphere below the temperature at which the glass is formed (750°C). As the reaction leading to the required, soluble form of vanadium is also slow between 600 and 750° optimization and control of the temperature profile and atmosphere in the furnace, and the residence time of the solids, are necessary to ensure high vanadium extraction during subsequent leaching.

Jan 1, 1976

By Ulf G. Gwildis

The Bright water Conveyance System includes 21 km of tunnels mined by two earth pressure balance Tunnel Boring Machines (TBMs) and two slurry TBMs. The probabilistic baseline approach defined in the Geotechnical Baseline Report (GBR) can representatively be verified by use of a comprehensive tracking system to identify face conditions that allows comparison with the baselines. The glacial geology includes a high lateral variation in soil types that, when combined with the pressurized face tunneling methods, creates challenges for documenting face conditions. Baseline tracking using spoil samples and TBM operational parameters provides information to document actual conditions and support resolution of differing site condition claims.

By W. A. Wood, H. M. Bendler

Cylindrical fatigue specimens of OFHC* copper were subjected to alternating torsion while under axial tension. The superimposed tension strongly influenced the fatigue life of the specimens as well as causing characteristic changes in the structure of the fissures that form and develop throughout the life of the specimen. A further effect of the superimposed tension is a continuous extension of the specimen throughout its life in a manner formally similar to creep at elevated temperatures. RECENTLY, studies of the structural changes leading to fracture of metals by fatigue have been made by a technique which reveals, in section, the lattice distortion arising from slip movements inside the metal and the disturbances built up by these slip movements at the metal surface.1'2 According to this approach, fatigue develops as follows: a) fine slip movements concentrate in bands, producing little strain-hardening and thus permitting abnormal totals of plastic strain before fracture and, therefore, abnormal amounts of lattice distortion along each slip band; b) both forward and backward slip movements occur in each band which, according to their distribution across the band, may build up surface disturbances that include sharp notches; c) these notches early in the life of a specimen penetrate the distorted slip zones and transform them into deep, fine fissures; d) the fissures on continued cycling locally saturate the metal and cause local collapse in the form of a microcrack. Thus, the significant consequence of fatigue or cyclic

Jan 1, 1962

By S. Heukelman

Zinc or, a zinc refinery in South Africa, uses oxygen enrichment of up to 26% O2 in its fluidizing air to increase concentrate-throughput in its fluidized bed roasters. The aim of the study is to determine whether O2 enrichment can be reduced by introducing micro-pelletized concentrate into the feed blend, while maintaining concentrate throughput rates and calcine quality. A laboratory scale fluidized roaster was used to determine the strength and oxidation kinetics of suitable micro-pellets. The strength of the pellets was determined by the extent of attrition during roasting. It was found that micro-pelletization decreases the fines in the feed to the roasters; the ?500 µm fraction decreased from 87% to 10%. The micro-pelletized particles do break down during roasting, which increases the -500 µm fraction to 31%. The general morphologies of the roasted particles are similar to those found by previous workers. Micro-pelletized concentrate particles require more time than non-pelletized concentrate particles to oxidize in the roasting step, although this is less than the mean residence time of the Zincor roasters. Roasting micro-pellets in O2-enriched fluidizing air increased the reaction rate.

Jan 1, 2011

By Wayne E. Kilker, Michael J. McBride, William P. Levy, Thomas J. Lamb

Between 1989 and 2004 the Massachusetts Water Resources Authority (MWRA)constructed several major wastewater and water tunnels associated with three major projects in the Boston area of eastern Massachusetts. There were many similarities and differences in the bedrock conditions encountered and among the contractual approaches for these independent projects. Through a clarification of the approach similarities and analysis of the contract differences, this paper addresses and presents what are considered to be valuable lessons learned. In doing so, the paper follows the evolution of such disparate issues as contract conditions, baseline reports and dispute review boards. The authors believe that the lessons learned even represent what, in certain cases, could be referred to as “universal truths” that are intended to have application to the next generation of tunneling contracts.

Jan 1, 2005

Ore samples generally require preparation before analysis. Serious problems can occur with contamination degradation and particle size effects. Both grinding element contammation and sample cross contamination havebeen bound to be related to sample hardness and operator technique. For best results with minerals relevant to the steel industry, the use of Siebtechnik-type mills required a combination of careful planning, short grinding periods and intermediate sieving of the sample. The results may be extended to most mineral, rock, and refractory sample preparabons.

Jan 1, 1978

By Michael Young, Josh Rubenstein, Michael Cooper, Tom Shouldice, Dan Curry

"Xstrata Nickel Australasia’s Cosmos plant in Western Australia is currently implementing a debottlenecking project to increase nickel output while maintaining metallurgical performance and a low unit cost for production. Mineralogical analyses indicated that the processing bottlenecks could be removed by simply reconfiguring portions of the circuit as well as adding capacity with technical advancements – notably an IsaMill™, Jameson Cell, Wemco® SmartCell™ and Larox Filter.The Wemco® SmartCell™, which is particularly suited for coarse mineral flotation, and Jameson Cell, which is particularly well suited for fast floating and fine minerals, combine as rougher scalpers to complete the main stream portion of the flotation circuit. Addition of the two new cells meet the required flotation capacity to handle the forecast increase in nickel feed grade and tonnage.The addition of an IsaMill™ for regrinding allows the SAG mill to produce a coarser primary product, thus enabling increased throughput. The advantages offered by the IsaMill™ include operation in open circuit (internal classification), an inert grinding environment (ceramic media) for better downstream flotation (“clean” new surfaces), compact footprint (easy to retrofit into existing plant) and energy efficiency. With the new rougher capacity addition, the remaining original plant cells were reconfigured to suit the new regrind mill and cleaning requirements. The existing 24 m2 Larox pressure filter was replaced with a larger 32 m2 unit to dewater the increased concentrate output.The paper describes the upgrade at the Cosmos concentrator with particular emphasis on the mineralogical data and metallurgical benefits associated with the changes.INTRODUCTIONThe Cosmos concentrator is located 680 km northeast of Perth in Western Australia. The deposit’s development and operations were started in 1999 by Jubilee Mines NL, Cosmos’ previous owner, with the first production of nickel concentrate in April 2000. The Cosmos concentrator treats a komatiite hosted high grade nickel sulphide ore, with sulphides being predominantly pentlandite and pyrrhotite with lesser amounts of pyrite and chalcopyrite."

Jan 1, 2010

By Patrick Cloutier

Presentation objectives ? Introduce discrete-event 3D computer simulation as a tool to design, improve and optimize construction projects: ? Describe a real typical construction project planning issue. ? Present an applied use of simulation to solve this issue. ? Detail benefits of using simulation versus traditional planning methods.

Aug 1, 2013

By Basson. J., L. R. Nelson, L. A. Cramer

The South African based platinum mines produce the world?s majority of platinum metal that is used in autocatalysts and jewellery. As the platinum market is forecast to grow at healthy rates into the future, the South African producers, Anglo Platinum, Impala, Lonmin and Northam are planning to expand in the next decade. Furthermore a number of smaller producers who are accessing other mineral rights are entering the buoyant market. The South African platinum mines have traditionally exploited the Merensky reef of the Bushveld Igneous Complex (BIC); however, the mining of this reef is reaching depths that require significant vertical shaft systems and costly refrigeration for access to the ore bodies at deeper levels. In the past decade all of the producers have begun to mine the less attractive UG2 reef because of its cheaper mining costs. This UG2 reef contains significant quantities of chromite with typically a chrome-to-iron (Cr/Fe) ratio of 1.35. UG2 ores can contain between 10 and 25% Cr2O3 depending upon the reef width and the selected mining method. It is relatively cheap and easy to extract a portion of the chromite from a platinum concentrator tailings stream at a grade of between 40-42% Cr2O3. However it is only in recent years that some ferrochrome producers have begun to source some of their chromite from the tailings of platinum producers. South Africa is also the world?s largest single producer of ferrochrome and supplies much of the world?s stainless steel producers and thus the growing market for their product. As the traditional sources of high Cr/Fe ratio ores have been depleted at the shallow economic depths and thus have become more expensive sources of chromite, technical developments have improved the ability to use fine chromite economically to make acceptable grades of ferrochrome. Thus UG2 fines are now becoming possible cheap sources of acceptable feed to the ferrochrome industry. The abundance of feedstock for ferrochrome production and the lessening dependence on mined material will impact upon the structure of the ferrochrome business in South Africa. With continued platinum mining from UG2 reefs, South Africa is set to remain highly competitive in the world?s ferrochrome/stainless steel industry.

Jan 1, 2004

By T. J. Snell

Bolnore Village in Haywards Heath, Sussex, England, is a large development covering 8 to 10 hectares and expected to provide 1500 homes in five phases to assist in the continuing demand for new homes in the London area. Part of the development required housing on a relatively shallow slope found to have deep seated failure planes which are fairly prevalent in this part of Sussex. Locally the slope angle was around 20 degrees but more typically the gradient was 6 to 7 degrees. There were significant concerns about slope stability and bearing capacity due to pre-existing shear surfaces and the complex geotechnical profile. There was some evidence of instability in the form of residual shear surfaces and tension cracks. The development required terracing the site with retaining structures up to 5 meters in height, formation of access roads and foundations of new houses. The developer Crest Nicholson adopted a collaborative approach with consulting engineers Powell Tolner and specialist geotechnical contractor Keller Ground Engineering. The solution consisted of a novel combination of contiguous bored piling, ground anchors, and both block work and timbacrib retaining walls to ensure the geotechnical issues were adequately addressed within the time and cost constraints set by the team. The paper describes the geotechnics of the problem together with the design, practical implementation, and site progress achieved

Jan 1, 2006

By Hamid Maleki

Having developed a methodology for estimating mining-induced seismicity resulting from slip along geological discontinuities in 2003, in this paper, the importance of measurements are high-lighted in the study of caving and seismic source mechanisms as applied to mine designs. Geotechnical data is analyzed from four case studies to address cave condition, load transfer, and potential effects on stability and resource recovery in four Utah mines using measurements and observations conducted over the last three decades. Cave conditions are evaluated on the basis of measurements in the gob of a western U.S. operation mining under the massive Castlegate Sandstone and indirectly using the results of measurements and boundary-element modeling at panel boundaries at a mine where strata behave elastically. Together with subsidence measurements and microseismic monitoring, regional caving and load transfer in multiple-panel extractions are addressed while the effectiveness of barrier pillars in reducing stress and seismic response where mining under massive stratigraphic units is analyzed using measurements and three-dimensional computer modeling.

Jan 1, 2006

By O. Leuangthong, M. Nowak

"The impact of high-grade data on resource estimation has been a longstanding topic of interest in the mining industry. Concerns related to possible over-estimation of resources in such cases have led many investigators to develop possible solutions to limit the influence of highgrade data. It is interesting to note that the risk associated with including high-grade data in estimation appears to be one of the most broadly appreciated concepts understood by the general public, and not only professionals in the resource modelling sector. Many consider grade capping or cutting as the primary approach to dealing with high-grade data; however, other methods and potentially better solutions have been proposed for different stages throughout the resource modelling workflow.This paper reviews the various methods that geomodellers have used to mitigate the impact of high-grade data on resource estimation. In particular, the methods are organized into three categories depending on the stage of the estimation workflow when they may be invoked: (1) domain determination; (2) grade capping; and (3) estimation methods and implementation. It will be emphasized in this paper that any treatment of high-grade data should not lead to undue lowering of the estimated grades, and that limiting the influence of high grades by grade capping should be considered as a last resort. A much better approach is related to domain design or invoking a proper estimation methodology. An example data-set from a gold deposit in Ontario, Canada is used to illustrate the impact of controlling high-grade data in each phase of a study. We note that the case study is by no means comprehensive; it is used to illustrate the place of each method and the manner in which it is possible to mitigate the impact of high-grade data at various stages in resource estimation."

Jan 1, 2015