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By D J. Bradshaw, E M. Wightman, C L. Evans, B Triffett

During the commissioning phase of Prominent Hill, periods of reduced recovery were experienced with higher-grade ore blends. This was unexpected and as part of the process to identify the cause, surveys were conducted in May 2009, with two different ore blends (copper grades: 1.94 per cent Cu (blend 1) and 2.49 per cent Cu (blend 2)). Metallurgical performance was assessed in terms of rougher recovery and grade with consideration of both pulp and froth effects. In addition, hydrodynamic measurements (gas hold up, bubble size, superficial gas velocity) as well as measurements of bubble load and top-of-froth grade were taken during the surveys and full mineralogical assessment of selected streams completed to characterise the nature of the differences. The metallurgical results showed that the lower performance was obtained with blend 2 which contained the higher amount of chalcocite and was higher-grade. Analysis of the survey data showed that for both ore blends more than half of the copper loss occurred in the +38 ¦m size fractions. Almost 30 per cent of the copper in the +38 ¦m fractions that reported to the rougher tails during processing of blend 2 was liberated compared to less than five per cent for blend 1. Additionally almost 60 per cent of the copper in the +38 ¦m fraction of blend 2 was chalcocite compared with approximately 20 per cent in blend 1. This paper discusses the sensitivity of the chalcocite-to-surface chemistry effects causing marked reductions in recovery either through reduced pulp recovery or froth phase (detachment) effects. The reagent suite and operating conditions were subsequently changed and the recoveries increased substantially and the sensitivity to ore changes eliminated. It should be noted that subsequent optimisation work, which focused on recovery improvement, has led to copper recoveries of over 90 per cent being achieved.CITATION:Bradshaw, D J, Wightman, E M, Evans, C L and Triffett, B, 2012. Characterising the reasons for the difference in performance of two ore blends in early processing at OZ Minerals Prominent Hill Operation, in Proceedings 11th AusIMM Mill OperatorsÆ Conference, pp 273-278 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Oct 29, 2012

By M Svartsjaern, D Saiang and K Mäkitaavola

The Kiirunavaara mine is a large-scale (28 Mt/a) iron ore mine located in northern Sweden. The mine is owned and operated by Luossavaara-Kiirunavaara Aktiebolag (LKAB) using sublevel caving (SLC). The SLC area underlies an open pit decommissioned in the 1950s, the current main SLC haulage level is situated at an depth of 1100 m. The main orebody dips 60 degrees to the east with a distinct boundary defining the hanging wall to the east and footwall to the west. Since the 1980s damage has been observed both in the footwall rock mass as well as on the footwall crest of the open pit. Recent investigations indicate that the underground footwall damage is primarily controlled by large-scale slope failure mechanisms. Structurally controlled near-vertical planar shear failures in the upper footwall appear to be driven or facilitated by a step-path like curved shear failure situated in a zone starting ca 250 m, and intersecting the SLC about 100 m above the active mining level. To confirm this failure evolution a pilot underground measuring system has been designed and installed to monitor the expected rock mass displacements indicated by numerical models based on the above mechanisms. The systems consists of 50 m time domain reflectometry (TDR) coaxial cables installed in the footwall both across and away from an estimated damage extent boundary to monitor shear movements along natural joint surfaces. The TDR installation is combined with long extensometers to facilitate differentiation between diffuse shear and rock mass normal expansion. Additionally, a low-tech system of tape extensometer lines are installed in drifts and stopes running perpendicular to the ore strike to monitor horizontal displacements in the infrastructure as the footwall ‘slope’ loses confinement during mining advance when the mined out areas are replaced by caved rock from the hanging wall.CITATION:Svartsjaern, M, Saiang, D and Mäkitaavola, K, 2016. Underground footwall monitoring at the sublevel caving mine – Kiirunavaara, Sweden, in Proceedings Seventh International Conference and Exhibition on Mass Mining (MassMin 2016), pp 773–780 (The Australasian Institute of Mining and Metallurgy: Melbourne).

May 9, 2016

By L A. Martinez Tipe, J McKibben, S Barry

"Metal prices are central to a mineral investment decision and have a profound impact on the financial performance of companies in the mining industry. At its most basic level, metal prices are influenced by the disequilibrium between international metal volume supply and demand. That is, the commodity price is a regulator that equates international metal supply and demand where inventories act as a buffer between the emergence of this disequilibrium and its dissolution through a price change.From this viewpoint, mining companies are required to forecast metal and bulk commodity prices when evaluating minerals projects through discounted cash flow (DCF) analysis. While supply-demand models are instructive, many companies use historical prices, spot prices, futures/forward pricing and consensus opinion (or a combination of all of these) to develop price forecasts.This paper discusses the definition, fundamentals and differences between futures/forward and consensus pricing and the appropriateness of each in a DCF model for mine project economic evaluation.Our results demonstrate that great care is required when using either futures/forward or consensus pricing and that the decision to use one rather than the other requires consideration of other important elements in the DCF model (ie the risk-adjusted discount rate).CITATION:Martinez Tipe, L A, McKibben, J and Barry, S, 2016. Metal prices and the differences between forward and consensus pricing – which one is better for use in a discounted cash flow model?, in Proceedings Project Evaluation 2016, pp 149–158 (The Australasian Institute of Mining and Metallurgy: Melbourne)."

Mar 8, 2016

Quay Magnesium Limited (QMG) listed on the Australian Stock Exchange in late September 2004 having raised approximately A$30 million with the object of designing, constructing, commissioning and operating a 15 000 tpa magnesium alloy production facility in Nanjing, China. Site construction commenced in February 2005, with installation of all major components completed by the end of October 2005. Hot commissioning was simultaneously commenced with the final stages of installation, leading to the first stage of continuous ingot casting by mid November 2005. Since that time, ramp-up to the name plate capacity has been undertaken. This presentation highlights some of the more significant technical and logistical hurdles that have had to be overcome in order to meet the high quality product specifications required by a range of QMG customers.

Jan 1, 2006

By S Coward, S Jackson, S Moayer, J E. Vann

The variability and uncertainty of mineralisation, coupled with subsequent uncertainty in mining and processing, is often paid scant regard or overlooked during the evaluation of mining projects. In many instances, when the project transitions to the operational phase, the reality of feed or product variability and the consequences of unquantified uncertainties throughout the value chain become obvious. The outcome is the familiar picture of frequent ramp-up underperformance and failure to deliver on planned targets and objectives.Both mine and exploration geologists are expected to generate mineral deposit models that are based on an integration of diverse sources of data. These multifaceted deposit models already play a pivotal role in the design, development and optimisation of mining project value, and the trend to a fully digitally engineered future means that this importance is increasing. It is therefore vitally important that tools be made available to the geologist (as well as mining engineers and metallurgists) that enable them to characterise and assess variability and uncertainty via appropriate deposit models and thus articulate their impact on potential project configurations and decisions. Scenario-based project evaluation (SBPE) provides a framework for full and proper analysis of the downstream impacts of inherent deposit variability and uncertainty on project performance.SBPE has been developed by the authors over several years and aims to propagate geological uncertainty and variability through the mining value chain. The outcomes of SBPE can be tested against future external scenarios capturing financial, economic and socio-political factors that also drive project performance. Stochastic representations of the orebody (via conditional simulation (see Chilès and Delfiner, 1999)) that explicitly incorporate variability and represent uncertainty are propagated through the value chain on a block-by-block basis (ie on a much more granular basis than traditional project evaluation approaches).Conventionally, metallurgical processes are modelled with deterministic equations (eg regression models) based on limited data. The SBPE approach allows for the modelling of process performance uncertainty using geometallurgical sampling fully. Multiple outcomes of SBPE are passed through financial modelling, which can also incorporate stochastic components, thus allowing full quantification of the risks and opportunities of a set of project alternatives. The value of the SBPE system is that once a base case has been established, multiple engineered alternatives coupled with external scenarios are easily evaluated and compared in terms of incremental value.A new case study of SBPE is presented that shows how, by analysis of the various aspects of variability and uncertainty, project managers are able to focus on the areas that have the greatest ability to reduce risk and/or add significant value. This can lead to sufficient flexibility being built into operations that allow operators to cope with the real orebody delivered to the plant.CITATION:Jackson, S, Vann, J E, Coward, S and Moayer, S, 2014. Scenario-based project evaluation – full mineral value chain stochastic simulation to evaluate development and operational alternatives, in Proceedings Ninth International Mining Geology Conference 2014 , pp 21–32 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Aug 18, 2014

By G R. Ballantyne, A N. Mainza, M S. Powell, M Evertsson

Quantifying the performance of a comminution circuit relative to the potential that can be achieved is a standard requirement in justifying operating practice (the stick) and seeking operational upside (the carrot). Historic measures tend to focus on performance relative to laboratory design tests that provide a direct measure of specific grinding energy, such as the Bond Work index; or use dropweight breakage tests calibrated to a substantial database of operating sites, such as the SMC methodology. Although of value, such approaches are flawed in significant aspects. The assumption is that the laboratory prediction is correct and the single sample it is based on is representative. The database benchmarking methods are, by definition, locked into current average operating practice. These approaches do not illuminate upside; can ‘punish’ operations that are actually more efficient, such as grinding finer than standard operation; and reward poor operation that may comfortably produce a coarser grind than optimal for recovery or excess slimes that reduce recovery and increase water consumption and tailings volume. The authors present a set of established and easily applied measures, that draw together daily operation, highlight areas of opportunity and inefficiency, use simple samples and data, and can be used to provide the ‘size of the prize’ in pursuing specific areas of process improvement. These tools include size specific energy (SSE), overall operating effectiveness (OEE) which includes product quality, theory of constraints, and links this to the end objective – maximising the efficient production of valuable metals. Feeds into objective function driven by economics – financial return, energy, environment.

Aug 24, 2022

THE paper is principally eoncerncd with experimental work carried out the author whilst a number of the metallurgical staff at the Cockle Creek works. The metallurgical has been discussed sufficiently for the reader to follow the course of the experiments but the actual plant has only been described in so far as it effected metallurgical treatment, since the arrangement of such a smelter is a matter of common knowledge.The lead-roasting plant consisted of Godfrey roaster, Dwight-Lloyd maehines and Huntingdon-Heberlein pots. The usual treatment was in the Godfrey furnaces, followed by sintering in the Huntingdon- Heberlein pots. The paper is divided into two parts in the Godfrey furnaces and Huntingdon-Heberlein pots. An account of experiments on the utilization of the hood gases from the Huntingdon-Heberlein pots for acid making...

Jan 1, 1924

By M Habte

This paper presents a simplified method for the assessment of creep deformations in rock masses containing bands of low strength or soil strength rock. The main impetus for this work was the need to assess the impact of distinct bands of clay and/or low strength rock on the long term deformation behaviour of a rock pillar formed as part of a series of proposed tunnelling works. In particular, the authors were interested in being able to provide criterion which could be used by site personnel to assess the encountered rock conditions against design assumptions.Creep deformation versus time plots are presented for a range of material consistencies. These plots were produced using the hyperbolic creep equation proposed by Mesri et al (1981). This empirically based equation was chosen for its simplicity and practicality. Discussion is included regarding typical input parameter values and the sensitivity of the results to these values is explored. Finally, in the soil strength materials, the secondary consolidation equation is used to check the veracity of the results calculated using the hyperbolic creep equation.

Mar 8, 2011

By M Rea, E O’Connell

Decarbonising explosives manufacturing and catalysing low-carbon mining supply is a significant global challenge. Low-carbon manufacturing precincts – clusters of geographically close businesses across multiple industries that share a goal of adopting firmed renewable energy and decarbonising process emissions – offer one potential solution. In an Australian first, Orica commissioned tertiary catalyst abatement technology in 2023 to mitigate greenhouse gas (GHG) emissions at its Kooragang Island (KI) facility in New South Wales (NSW), Australia. The EnviNOx® technology (ThyssenKrupp Industrial Solutions AG, Dortmund, Germany) used reduces nitrous oxide (N2O), a potent greenhouse gas arising as a by-product of nitric acid manufacture. As a result, mining customers in NSW are now benefitting from ammonium nitrate (AN) products that are almost 50 per cent less emissions-intensive than those Orica previously offered. The $37 million project is a private-public partnership that has involved partners across Federal and State government, global engineering and technology vendors, local community groups and local carbon advisors to overcome financial barriers.

Sep 1, 2024

By Vilela A. C F

In the present work, the process of dephosphorisation of stainless steel was developed in laboratory scale by adopting a high frequence induction furnace, using BaCO3 base flux. By using BaCO3 - CaO - BaC12 - Fe2O3 Flux of about 110 g/Kg-metal, 30 per cent dephosphorisation degree was obtained a stainless steel containing 18,8 per cent Cr and carbon between 0,08 and 2,0 per cent. In addition, a dessulfurisation degree of 89 per cent was achieved too.

Jan 1, 1991

By D Tucker, K Harney

Hatch forecasts that an increasing share of seaborne traded iron ore will be ultrafine, being either concentrate or pellet feed. This provides several challenges for the iron and steel industries, but the principal concern is: how much ultrafine iron ore can be consumed on sinter strands and with a minimal effect on productivity?This paper will identify new supply by project through 2020. Demand will be estimated for sinter production and practical steps will be identified to increase ultrafine consumption in sinter strands. The long-term iron ore price will be forecast to balance supply and demand. The paper will conclude by assessing how the pricing of ultrafine ore will develop relative to the Chinese iron ore indices.CITATION:Tucker, D and Harney, K, 2015. Iron ore ultrafines challenges and opportunities, in Proceedings Iron Ore 2015, pp 501–504 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Jul 13, 2015

By P Hawke, J Hurst, B KrapeP

Hancock Prospecting Pty Ltd (HPPL) drilled two deep diamond stratigraphic holes (ECD0001 and RHD0296) within the eastern Fortescue Valley in the Pilbara of Western Australia. Located south of the Roy Hill Iron Ore project, the holes aimed to define the stratigraphy of the Marra Mamba Iron Formation (MMIF) of the Chichester Range and its south-dipping extensions below recent cover. Previous attempts to define the MMIF of the Chichester Range have resulted in differing interpretations due to the data available at the time.The unweathered MMIF beneath the Fortescue Valley in the HPPL drill holes is characterised by dolomitic carbonate interbedded with stilpnomelane-rich shales, chert and banded iron formation (BIF) with hematite staining. This intersection equates to ~75 m of carbonate-facies iron formation, as opposed to the ~230 m thick oxide-facies BIF and shale sequence encountered south of the Fortescue Valley.Various detailed geological core analyses and interpretations from ECD0001 and RHD0296 were integrated with regional diamond and reverse circulation (RC) holes from across the Fortescue Valley. Interpretation of the data indicates that the eastern Fortescue Valley MMIF represents a thinned thickness sequence of the whole formation. The MMIF of the Chichester Range and Fortescue Valley has gamma logs that correlate strongly in parts to the type section used for MMIF south of the Fortescue Valley. Therefore, the outcropping MMIF in the Chichester Range represents an eroded equivalent of the æreducedÆ thickness MMIF observed in ECD0001 and RHD0296.Data from deep diamond drill holes across the valley, from the Hamersley Basin to the Carawine Basin, were correlated. The correlation shows that the depositional site of the MMIF in the HPPL diamond drill holes is consistent with a proximal ramp setting, in which iron-rich shales wedge up-palaeoslope and shelf-derived carbonate turbidites wedge down-palaeoslope. Not only is it the occurrence of these shales that define the MMIF, but they also determine the northward potential to develop orebodies, as they are the source of iron from which iron-rich oxides and carbonates of metamorphic or diagenetic origin form.CITATION:Hurst, J, KrapeP, B and Hawke, P, 2013. Stratigraphy of the Marra Mamba iron formation within the Chichester Range and its implications for iron ore genesis at Roy Hill - evidence from deep diamond drill holes within the East Fortescue Valley, in Proceedings Iron Ore 2013 , pp 91-106 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Aug 12, 2013

By L J. de Lange

As a material asset for mining entities, the resources and reserves (RR) estimation processes are surprisingly underrepresented in the assurance landscape. When press reports expose them being inaccurately reported, or in merger and acquisitions processes, their importance becomes clear. The impact of erroneous RR numbers (both positive and negative) could have a material impact on an entity’s reputation and value.The technical nature and ‘black magic’ connotations of the RR estimation processes are possibly reasons why audit committees are not actively involved with it. Internal auditors avoid the RR processes for similar reasons. Also the traditional approach to obtain assurance on RR is expensive and is therefore only performed when it is absolutely required.However, stakeholders’ expectations of good governance are growing. Part of this increased focus is based on attaining a higher degree of certainty about the current and forecasted position of the entity. Stakeholders are also increasingly more interested in non-financial areas of entities, as the future success of an entity is more than a set of financial metrics.Consequently, the RR estimation processes should be visible on the agendas of audit committees. Monitoring of key controls is required as part of the governance obligations for senior management and the audit committee. So once it is on the audit committee’s agenda, the question then becomes, how will that agenda be supported by an assurance process that is cost-effective?The main objective of the paper is to describe a model of RR assurance that has been effectively applied in some mining companies. The paper discusses one particular approach that provides an audit committee with the required assurance regarding RR processes. The approach ties the assurance needs of the audit committee to the needs of the technical experts in the entity, therefore involving two important figures. It also offers assurance providers with a model to audit ‘through’ the RR processes rather than ‘around’ them. The paper then discusses top-down and bottom-up approaches that provide assurance at different levels of an entity.A governance audit that focuses on the RR processes is suggested as a top-down approach. A bottom-up approach assesses the design adequacy of internal control processes. A hybrid model is described which meets the needs of diverse stakeholders including the audit committee and the RR community.The hybrid model combines the expertise of professionals in both internal audit and RR. The right balance of these skills directed by a singular approach ensures that a credible result is achieved.This approach is not as expensive as some verification approaches used in the industry and can, as a result, be performed on a more regular basis.The last element of the paper looks at implementation of the reporting mechanism. An assurance process aimed at continuous improvement further enhances the robustness and reliability of RR reported by an entity.CITATION:de Lange, L J, 2016. Resources and reserve assurance processes – a framework for improved governance, in Proceedings International Mine Management Conference, pp 21-34 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Jun 22, 2016

By Hoskings R

Conceptual studies of the run of mine stockpiling and reclaiming requirements com- menced in 1975. Final selection of equipment was made in 1978 and the equipment was commissioned in June, 1979. Equipment selection was made after extensive investigation and visits to existing facilities throughout the world. The equipment selected is described and com- pared with the alternatives. Foundations were designed to minimise clean up effort and to ensure stability of equipment under design wind loading without storm bays. Program- mable logic control enables the stacking and reclaiming facility to provide a blended feed to the coal preparation plant.

Jan 1, 1980

By A D. Caccioppoli

Grade control systems within Rio Tinto Iron Ore have proven to be robust, when mining full benches. The Hope Downs 1 operation hosting two Marra Mamba Iron Formation deposits (North and South Deposits) presents a new challenge, where increased mining selectivity due to moderately plunging N-verging folds has made flitch mining necessary in the South Deposit. Poor flitch blasthole sample duplicate results in South Deposit over a 12 month period, compared to North Deposit, have highlighted concerns with grade predictions. In contrast a new grade control methodology (grade splitting) was proposed to alleviate blasthole sampling bias, utilising geological mapping and mineralogical logging, currently practised throughout Rio Tinto Iron Ore Pilbara operations, to estimate theoretical grades for each flitch from a single blast cone assay. To assess this method, reverse circulation holes (RC) were twinned to blastholes establishing an ‘actual’ grade. These blastholes were assayed using current flitch sampling techniques where: flitch positions were estimated, flitch positions were marked with paint, and a full cone sample was taken for ‘grade splitting’. Using these data sets multiple grade predictions were produced, then analysed using Half Absolute Relative Difference (HARD) statistical analysis. In addition to testing these grade control methodologies two other findings were ascertained: an inherent bias in blasthole assays exists particularly in the top flitch, where an average absolute difference of 0.6 per cent in SiO2 and 0.42 per cent Al2O3 was measured; and assays derived where kaolin rich soft shales are intersected were less representative. This is likely to be due to these materials not being properly represented in blast cones. Grade splitting accurately estimated block chemistry, except for a slight under-prediction in Al2O3 and P compared to current grade control methodologies. This method is a viable alternative where grade distribution is stratigraphically controlled.

Aug 22, 2011

The beneficiation of heavy metal oxides, such as iron ore, is usually performed with heavy medium separation in cyclones, static baths and lately with Larcodems. Atomized ferrosilicon is most suitable as a heavy medium at densities above 3600 kg/m3 whereas a mixture of milled and atomized ferrosilicon is suitable at densities below 3600 kg/m3. When operating a beneficiation plant at densities higher than 3600 kg/m3 the quality of the ferrosilicon particles is an important factor that influences the control of the beneficiation process. Therefore, it is important to know how the rheology would be affected by the ferrosilicon quality as it also influences the control of the process at these elevated densities.

Jan 1, 2002

By N S Melkoumian

While improvements in occupational health and safety (OHS) in the mining industry have decreased fatalities and accidents, little attention has been paid to the cultural confound of 'safety' in the increasingly multicultural mining industry. Occupational health and safety processes often contain assumptions of cultural understanding that may not be shared or understood by mining employees. There are potentially dangerous and costly implications of cultural difference in the mining environment. Some people have been enculturated with high levels of anxiety concerning catastrophe and uncertainty while others have a more laissez faire attitude to accidents and disaster. The level of cultural anxiety about uncertainty can be a major factor in the acceptance of OHS processes. OHS manuals based on a comprehensive set of rules and procedures may assume that the authority of 'rules' is shared by all employees regardless of a variety of cultural understandings when this may not be the case. Similarly, cross-cultural employees may not share a background or acceptance of expensive technological innovation and so resist/avoid the application of new safety equipment. Then too, OHS staff may not realise the significance of religious belief or personal responsibility on employees' attitudes to safety in the workplace environment. A lack of consideration of these cultural elements could have fatal and expensive results. This paper explores the impact of cultural difference in the understanding of OHS in the Mining Industry, presents a model to improve the understanding of the cultural confound in safety, improves analysis of OHS in practical multicultural situations, provides assistance for those involved in OHS training and may become a basis for developing OHS policy and procedure.

Dec 6, 2010

By P Fuller, A R. Penney

Re-commencement of mining in the Western Zone of Beaconsfield Gold Mine following a seismically-induced rockfall fatality in April 2006 required a change of mining method involving drilling and blasting from specially developed drives in the footwall of the orebody. Broken ore is mucked remotely from ore drives on each level. Support in the footwall drives is required to maintain stability during their development and as stopes are retreated, which increases induced stresses and further seismic events are triggered. The paper outlines the challenges involved and methods used to select the footwall drive support to handle both static and dynamic load demand. The importance of load development in the support system, its displacement capacity, the compatibility of support elements and energy absorption capacity of the support system are highlighted. It is usual in any support selection process to ensure that capacity exceeds demand to create a factor of safety. In this case the demands on the system relate to load, displacement and energy absorption and the support system capacity for each must ensure that appropriate factors of safety for each are achieved. The paper shows how these factors are not independent and that selecting a high factor of safety for load can lead to compatibility problems with support elements in the support system.

Jan 1, 2008

By P Hatherly, A Melkumyan, D Wyman

Chemical species distributions in rock sequences can be modelled using Gaussian processes (GPs) to predict the weight percentage between known data points. This method can be improved by dividing the modelled area into regions of different mineralogy. In the context of many iron ore deposits, marker shales give the initial guidance of where these regions may lie. These shales give rise to distinctive peaks in the natural gamma downhole logs, which are conventionally identified by hand. A GP method has been developed to automate this task.Once the appropriate boundary has been located on the basis of shale occurrences, chemical assays from exploration drill holes are used to find the exact boundaries of interest. These boundaries divide the drill hole stratigraphy into regions of different mineralogy, each of which display their own distinct correlations between the main elements and oxides (Fe, SiO2 and Al2O3). Iron ore shows a negative correlation between Fe and Al2O3, but in banded iron formation (BIF) there is a positive correlation between these species. Similarly, SiO2 and Al2O3 have a positive correlation in the shales and ore but a negative correlation in the BIF. Correlations obtained within ore-, BIF- and shale-dominated regions are therefore better than those obtained using the entire log and can be used to improve the results obtained when modelling.

Sep 26, 2011

By D Brereton, C J. Moran

In this era of rising focus on the social and environmental costs and benefits of mining operations, the valuation methodologies used to assess such impacts become increasingly important. Within an industry dominated by an engineering culture that places emphasis on net present value (NPV) calculations using high discount rates, difficulties often arise when attempting to justify projects with longer-term, harder to quantify benefits. This is particularly so when these benefits fall in the social and environmental domains and involve other stakeholders. In this paper, we summarise the results of a recent literature review on this subject, which focused on the valuation of æBeyond ComplianceÆ initiatives in the mining sector. We discuss a range of approaches including the quantification of hidden internal costs, financial methods of incorporating risk into calculations, the integration of quantitative and qualitative information, and also the valuation of æexternalitiesÆ or costs and benefits borne by others. We then use a series of examples relating to the management of water in the minerals industry to illustrate how some of these approaches could be applied. There are high-level commitments from both individual companies and groups such as the ICMM to incorporate sustainable development criteria into decision-making processes within the industry. We conclude the paper by arguing that, to meet these commitments, there is a need for the industry to adopt a broader range of valuation methodologies than appears to be the case at present.

Jan 1, 2006