Search Documents

Optimisation of the Advanced Automation System at Inmet Mining's PyhSsalmi Mine, Finland

Sep 13, 2010

By D Blair, T Scutts, L Fergusson

This paper presents a waste rock treatment and rehabilitation program conducted at a metaliferous mine site in northern New South Wales from 2000–2013. It updates findings from 2005 for Program #1 (which examined acidity, leachable metals and tree growth in a control and three treated areas of waste rock) and includes new results for Program #2 (which examined acidity, plant uptake of metals and trace elements and tree growth in a control and four treated areas compared to undisturbed background levels) and Program?#3 (which examined the treatment and revegetation of submerged mine tailings and an exposed tailings beach).Program #1 showed low soil pH in the control area remained unchanged from years 1–14, and soil pH in the limed and capped areas was initially increased but fell back to starting levels within 12 months and remained low for 14 years. In contrast, soil pH in the Terra B area resulted in soil high pH immediately after treatment and increased in years six and 14 without further treatment. Tree height and density in 2005 and again in 2013 indicated acidity in the control, limed and capped areas suppressed tree height and density; however, in the Terra B area, revegetation in 2013 was comparable to undisturbed forest. Outcomes in the control, biosolids and three Terra B areas in Program #2 were similar to those observed in Program #1.Program #3 showed the submerged and exposed tailings initially had low pH and high concentrations of total and leachable metals before treatment, but these became non-leachable after treatment with Terra B. Revegetation was achieved on the tailings beach, with almost uniform colonisation of bulrush and common reed, along with bottlebrush and golden wattle; a variety of reptiles have also been observed on the revegetated tailings beach, along with migrating ducks, spoonbills and grebes.CITATION:Fergusson, L, Blair, D and Scutts, T, ?2014. Treatment and rehabilitation of acidic waste rock and tailings – a 14-year case study, in Proceedings Life-of-Mine 2014 , pp 247–260 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Jul 16, 2014

By J Pearce, M Barteaux, S Pearce

The prediction of how waste materials will evolve geochemically within waste storage facilities has been the subject of hundreds of thousands of hours researched by geoscientists globally. Despite the quantity of research there are a number of significant areas of uncertainty that remain as partially resolved issues. One of the most significant issues is the applicability of scaling laboratory test results to field conditions, and the use of laboratory data for predictive calculations to determine geochemical evolution of waste materials in the field. This issue has arisen predominantly as a result of the relative paucity of field monitoring data from waste rock storage facilities (WRSFs) and the fact that laboratory test methods are not typically linked to specific field conditions; rather they are based on generic standardised methods and designed primarily to simulate accelerated weathering conditions that do not relate to field conditions in a linear manner.To address these specific issues the authors have in the last two years made significant progress in the development and deployment of advanced field monitoring equipment within numerous WRSFs. O’Kane Consultants (OKC) has previously reported the findings from data collected from these monitoring installations in a number of papers presented throughout 2013–2014. This valuable site data has subsequently been used by OKC as the basis to design and engineer advanced customisable site-specific kinetic leach columns at OKC’s geochemistry research laboratory. These columns represent an important advancement in kinetic column assessment methodology as they have been designed to replicate the field internal conditions within waste facilities.Key features of the columns include their capacity, size and technical specifications; including fully programmable solenoid-controlled air supply with variable flow and pressure control and in-line heating option, automated temperature control and monitoring, automated oxygen consumption and carbon dioxide production monitoring, and soil moisture/matric suction monitoring.This flexibility of the design not only allows for more accurate field-based assessment of pyrite oxidation rates (POR) but also assessment of the potential effectiveness of waste management options such as deposition within a reduced oxygen environment, for example, as simulations of reduced net percolation rates or oxygen ingress rates can be accommodated.CITATION:Pearce, S, Pearce, J and Barteaux, M, 2015. Advanced customisable leach columns – a new kinetic testing method to simulate site-specific conditions, in Proceedings Tailings and Mine Waste Management for the 21st Century , pp 137–144 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Jul 27, 2015

Teleoperation is one method by which an operator can remotely control and monitor a vehicle. The operator monitors the status and progress of the remote vehicle by watching the video transmitted from one or more cameras which are mounted on the vehicle. In the case of an LHD, it will be fitted with three cameras. For a twin-boom Jumbo, four cameras are mounted on the drill, three of which will have remote pan, tilt, 15x zoom, focus and lens cleaning controls. The advantage of teleoperation is that an operator can stand in the drive and send the remote vehicle around a corner, completely out of sight and still clearly see what is happening. This means that an LHD returns with a full bucket and a Jumbo can be operated from a safe distance. Standing in the drive teleoperating vehicles, exposes the operator to passing traffic including the remote vehicle. There are two solutions to this problem. One is to equip the operator with a Nautilus æBuddyÆ jacket which will help to protect them from all vehicles. The other is to move the operator into a safe room or area, away from the fumes, the noise and the traffic. In this comfortable, less stressful environment, the operator will be more productive and less likely to accidentally damage the vehicle. The operatorÆs æsafeÆ room does not have to be a formal control room, it can be any area which has AC or DC power available and is large enough to contain a chair and a 1.5 m x 0.75 m table. The æsafeÆ room can be on the surface or underground, it does not matter to the operation of the Nautilus Equipment. If the LHDÆs, trucks, locomotives, etc are automatically guided from origin to destination, the operator is free to operate several vehicles at a time, performing only those tasks which are too difficult for a computer to do by itself.

Jan 1, 1998

By N Pirouznia, F Rashidi Nejad, S Naraghi

Sungun Copper Mine, which is the second largest copper mining operation in Iran has a large tailings storage facility with a seepage control dam located downstream of the main dam. Surface and groundwater in surrounding area of the tailings storage facility has been monitored for ten years. This paper will discuss the results of the surface and groundwater monitoring and seepage control at the Sungun Copper Mine. The results of the study show that if the tailings storage facility influence the water quality of the rivers, this effect is not significant, so that the prevailing parameters of the measured parameters were within the permissible standard of drinking water in Iran.CITATION:Rashidi Nejad, F, Naraghi, S and Pirouznia, N, 2018. Surface and groundwater monitoring and seepage control at the Sungun Copper Mine, in Proceedings Mine Waste and Tailings Stewardship Conference 2018, pp 439–453 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Jul 23, 2018

By D Davis

The prediction of ground-borne noise levels from tunnel construction activities requires knowledge of the input vibration forces from the vibration source(s) into the cutting face, knowledge of the vibration transmissibility through the surrounding medium, and knowledge of the receiver building’s vibro-acoustic response. The conversion of this vibration energy into sound pressure within the receiver building depends upon the vibration coupling of the soil and the building’s foundations, the structure’s response including floor-to-floor attenuation and amplifi cation due to resonance, the radiation effi ciencies of the internal structural elements, and the room’s acoustical properties. Beginning with a known input vibration spectrum at the cutting face, it is possible to predict the resultant ground-borne noise levels within a receiver building using either analytical and/or empirical techniques, or by numerical modelling. This paper presents an overview of the various methods available to estimate ground-borne noise levels from tunnel construction activities and discusses the advantages and limitations of each.

Mar 8, 2011

By B C. Povey, K Lagutin, M Mryasov, V Noll

The current Stoilensky magnetite concentrator comprises a three-stage crushing circuit followed by three stages of ball milling, grinding and concentration to produce a magnetite concentrate with 66.5% iron (Fe). The plant is built in four lines, three lines having four mills and one line with five mills, to treat 32 Mt/y of ore and produce 13.9 Mt/y of concentrate.NLMK, the owner, is Russia’s third largest steel maker and while the ore from the Stoilensky Mining and Beneficiation Plant (SGOK) provides the bulk of their supply, they still must buy ore from external sources at world prices. A decision was taken to expand the SGOK operation to supply all the NLMK concentrate, including the production of pellets.To commence the expansion, high pressure grinding rolls (HPGRs) were introduced as a fourth stage of crushing ahead of the first ball mill. This was a relatively low capital cost expansion and increased production by 12 to 15%, the cost being much less than an additional grinding line. The importance of this development was that earlier introductions of HPGRs in Russia had presented several problems so there was some reluctance to the initial concept. The even greater significance was that nearly every magnetite plant in Russia had a three-stage crushing circuit so the successful introduction of HPGRs was of interest to many operators.The design was developed by a team, consisting of Worley Parson, Mineralconsult and PiterGORproject (PGP), for the first four units to fit inside existing building structures. The first two units were commissioned in March 2016 and the next two units in May 2016, and production improved by over 12%. The design of the installation of the final four units is in progress and the installation is expected in late 2017.CITATION:Povey, B C, Noll, V, Lagutin, K and Mryasov, M, 2017. Introducing HPGR quaternary crushers in a Russian magnetite operation – challenges and solutions, in Proceedings MetPlant 2017, pp 84–100 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Sep 11, 2017

By Jaczkowski B

The lower orebody (LOB) at Chingola Divi- sion of Nchanga Consolidated Copper Mines Limited (NCCM) accounts for approximately 30 per cent of the total copper production for the company. The uniformity of the geology of the orebody lends itself readily to a computer based ore reserve calculation and accounting system. The mining units are physically defined such that a hierarchical type of com- puter file organisation can reflect the existing physical interdependencies. In 1972, a project team consisting of one representative from each of the mine planning, operational research, and computer services departments was formed to investigate and to define the technical mining requirements of the dynamic ore reserve system (DORS). The system was finally implemented in 1975ò

Jan 1, 1977

By S M. Gover

Estimating the probability of failure for embankments is not intuitive. It requires not only an appreciation of the strength of the embankment, but an understanding of the variability and uncertainty in the strength parameters as well. These additional aspects are, in themselves, relatively new to most practicing engineers, and therefore require some discussion.This paper discusses the concepts of probability and uncertainty, and presents a reliability-based numerical experiment, together with a literary study and collation of some of the author’s historical slope stability analyses, to investigate whether a direct relationship between safety factors and probabilities of failure exists for certain levels of uncertainty in strength parameters. In doing so, a useful tool is presented whereby knowing the safety factor of a simple slope or embankment with a consistent level of uncertainty, one can infer an approximate probability of failure.CITATION:Gover, S M, 2018. Linking safety factor to probability of failure, in Proceedings Mine Waste and Tailings Stewardship Conference 2018, pp 384–396 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Jul 23, 2018

By A J. Weston

Block or panel caving technology is far removed from that of the top slicing and block caving of the late nineteenth or early twentieth centuries. The rapid mechanisation and expansion of these methods in the late twentieth century was as much a result of the change of the technology of the unit operations of development, ground support, drilling and blasting and transport as it was of the advances in geotechnical understanding and practice. The small footprint gravity and scraper block caving mines with boundary weakening, rail transport and shaft hoisting of the early to mid-twentieth century have been replaced by massive high lift panel caves using preconditioning of the ore, large load-haul-dump units, adjacent crushers and conveyors to surface. The technology changes in the unit operations are described and the drivers for these changes examined.CITATION:Weston, A J, 2016. The evolution of block caving technology, in Proceedings Seventh International Conference and Exhibition on Mass Mining (MassMin 2016), pp 265–274 (The Australasian Institute of Mining and Metallurgy: Melbourne).

May 9, 2016

By C K. Boafo, J Visser

Obuasi Mine in Ghana, with more than 100 years of mining history, developed from a surface operation into a deep >2000 m underground gold mine. The challenge is to extract value from narrow veins left after extensive mining in the wider ore zones of the mine. Since the merger of AngloGold and Ashanti Goldfields in 2004 the mine strives to achieve optimum extraction through an integrated Mineral Resource management process from geological modelling, resource evaluation to mine design and scheduling. The shear hosted gold deposit displays complex secondary shears of variable thickness and continuity. There is an ongoing process of changes taking place in the way that geological modelling and resource estimation is done. Recent developments include the use of computerised systems that support the whole resource management chain from resource modelling to reserve optimisation. The change in thought and technology now allows for targeting narrow veins previously ignored in optimisation and mine design since moving into mechanised mining. The increased knowledge and confidence in the resource models now allows for flexibility in mine design, selection of mining method and scheduling and extraction of the reserves. The focus area for change is the way the orebody is evaluated and extraction designed. Since 2005 major changes were made to the process. This paper considers the historical approach of resource management. It looks at the individual process changes and qualifying the way ahead.

Jan 1, 2008

By A A. Latscha, D O’Connor

Increasing orebody complexity, restrictions in ground access, and longer lead times for disturbance approvals, have generated the need for the Resource Development Team within Rio Tinto Iron Ore (RTIO), to explore optimised drill design techniques that deliver resource conversion value while maximising program outcomes. In response to this challenge, the Team initiated a case study to produce an AI assisted/designed drill program using a non-machine learning AI. The case study involved the assessment and implementation of an AI generated drill program at one of RTIO’s Pilbara iron ore deposits, located in the Hamersley Province of Western Australia. The Mineral Resource is currently classified as 100 per cent Inferred. Access constraints inherent to topography, and the presence of exclusions zones have prevented adequate drilling coverage, resulting in lower resource confidence and a poor definition of the orebody extents and geometry. The drill campaign, planned in Q1 2023, needs to consider access constraints, complex topology and the limitations related to additional ground clearance, while addressing the requirement of improving orebody knowledge. The drill plan had to address two objectives. The first and main aim of drilling was to upgrade the Resource Classification to allow for possible conversion to Ore Reserve. The input for this objective was a volumetric representation of the areas currently not meeting pre-defined quantitative Resource Classification upgrade criteria. The second objective was to better define the orebody extents and geometry. For the second objective, the input to the drilling optimiser was a volumetric representation (blocks) of the areas of high uncertainty in the mineralisation/waste boundary, which were defined using an indicator conditional simulation technique. The drilling optimiser output was a range of compliant drill plans. A set of KPIs based on economic and orebody knowledge criteria were used to assess the plans and to select the most optimal drill design to be drilled in 2023. The geology and management teams were able to make better informed, objective decisions using the trade-off between cost and orebody knowledge gained. As part of the assessment, the AI generated plans were compared to our current planning practises. The AI assisted plans, when gauged against the project KPIs, showed clear and measurable improvements in both meeting project objectives and in managing operational risk.

May 24, 2023

By T Kojovic

"The index A*b, determined from the Julius Kruttschnitt Mineral Research Centre (JKMRC) drop weight tester (DWT) results, has become well-known in the mining industry as a reliable measure of ore hardness in impact or crushing, having the inferred units of t/kWh. This index evolved from a long history of comminution studies at the JKMRC, including the development of the now superseded JKTech twin-pendulum, the industry standard JK Drop Weight Tester (JKDWT) and the faster alterative JKMRC rotary breakage tester (JKRBT). A reduced version of the DWT, the semi-autogenous grinding mill comminution test (SMC test®), also provides estimates of the A*b though the testing of only one particle size at five specific energies. Experimental determination of A*b using the above devices/tests requires samples, with sufficient mass, to be sent to designated laboratories, registered to conduct such tests. This protocol is fine for bankable and commercial testing, where material characterisation data is used in conjunction with machine specific data in modelling and simulation, and power based calculations. However, for comparative testing, where results are required at the time of sampling (eg for plant troubleshooting or spot-surveys), or for rapid ranking of geometallurgical samples, these existing tests simply do not provide a timely, viable and cost-effective solution. In order to address this critical void in the realm of comparative testing, a new device has been developed, exploiting a central feature of single particle impact testing – that the A*b can be reliably estimated using one precise low energy test. This device, for which a patent is currently pending, called the HIT (Hardness Index Tester), has been precision engineered to allow users to break narrowly sized fragments at a set specific energy, in a safe and easy manner. The manufacturing materials have been chosen carefully to ensure compatibility with the intended use and portability to any site, whilst minimising cost. The device is supplied with a novel quality assurance / quality control (QA/QC) feature, to ensure that the targeted potential energy is consistently delivered. The product from the HIT breakage test can be quickly sized using a single screen to determine the mass per cent undersize, from which the A*b index is calculated directly at site – eliminating the need to send the raw data off-site for analysis. On presized fragments, a single test using 20 fragments takes less than five minutes to complete, and the results are immediately available. The HIT is currently being tested at a major mining laboratory in the US and the results to date have proved it can deliver on all fronts. This paper describes the new prototype device, which offers users a low cost in-house mechanism for estimating the A*b at any mine site, with potential applications on fragments up to 25 mm from drill core, blast chip rejects or the grinding circuit feed. It also outlines the results of field tests carried out by an objective third party mining group and compares the results with those from current industry standard tests conducted on the same material.Citation:Kojovic, T, 2016. HIT - a Portable Field Device for Rapid Testing at Site, in Proceedings 13th AusIMM Mill Operators’ Conference 2016, pp 9–16 (The Australasian Institute of Mining and Metallurgy: Melbourne)."

Oct 10, 2016

By M K. Nahian, R G. Reddy

The thermodynamic model for species distribution in aluminium chloride (AlCl3) and 1-butyl-3- methylimidazolium chloride (BMIC) system was developed. The experimental thermodynamic data, considering a range of aluminium chloride species, such as AlCl4-, Al2Cl7-, Al3Cl10-, Al4Cl13-, and Al2Cl6 were used in developing the model. When the XAlCl3 was in the range of 0 to 0.50, only anion species Cl- and AlCl4- were existing in the solution. As the XAlCl3 value increased more than 0.50, the available anions were Al2Cl7-, Al3Cl10-, Al4Cl13-, and Al2Cl6. Specifically, the concentration of Al2Cl7- increased in the composition range from 0.50 to 0.67 XAlCl3, after which it decreased. This change in the concentration of Al2Cl7- was due to its reaction with excess AlCl3, leading to the formation of Al3Cl10-. The average cathode current density was determined by the electrochemical experiments varying XAlCl3 from 0.50 to 0.71 in the AlCl3:BMIC solutions. The average cathode current density increased as the XAlCl3 increased from 0.50 to 0.67. However, it decreased when the XAlCl3 > 0.67. This trend can be attributed to the electroactive species Al2Cl7-. The Al2Cl7- promotes the reduction rate at the cathode, resulting in an increase in the average cathode current density.

Aug 21, 2024

By M Randall, P Ebzery, F Burns, C Aisthorpe, P Blanz

SAG Mill process control classically maintains the SAG mill volumetric filling within a set operating range. Typically a SAG mill weight measurement, by either bearing pressure transducers or load cells, is used as an inferred measurement of volumetric filling. To maintain volumetric filling within a set operating range the SAG weight setpoint use for process control requires regular review due to changes in SAG mill charge density (rock:ball ratio) and the wearing of mill liners. At Lihir Gold Mine in Papua New Guinea, the use of SAG mill weight for process control is additionally complicated by compromised load cells and drifting bearing pressure measurements. The need for an improved method of measuring and controlling volumetric filling led to the recent installation of the Outotec MillSense, a SAG mill toe angle instrument. This paper presents the integration of the toe angle control in to the Lihir SAG mill process control philosophy as replacement for the traditional mill weight control.CITATION:Burns, F, Aisthorpe, C, Blanz, P, Randall, M and Ebzery, P, 2018. Toe angle measurement for SAG mill control at Lihir gold mine, in Proceedings 14th AusIMM Mill Operators' Conference 2018, pp 59–76 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Aug 29, 2018

By A Roseman, T Gruber

Traditional methods for installing gaskets for segmented bored tunnels have relied upon different bonding procedures with adhesives that carry a series of disadvantages to segment producers. Fixation of the gaskets into the concrete segment as part of the casting procedure has been developed over the last 20 years and has emerged as an economical solution to produce high-quality tunnel segments for various technical tunnel applications. This paper investigates the advantages of using anchored gaskets, the different tunnel systems that employ anchor gaskets and reviews the first anchor gasket project; the Lee Tunnel and analyses how segment production efficiencies are gained.CITATION:Gruber, T and Roseman, A, 2014. Use of anchored gaskets in segmented bored tunnels, in Proceedings 15th Australasian Tunnelling Conference 2014 , pp 253–256 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Sep 17, 2014

By H Barrie, L Ameglio

"Current methods for acid rock drainage (ARD) mitigation revolve around insulation of the waste from oxygen in the atmosphere with water and dry (soils and liners) covers. Both are of limited effectiveness and present significant drawbacks. Furthermore, while they reduce oxygen influx, they reduce but do not prevent ARD.The inert gas mixture (IGM) technology has been designed to overcome the deficiencies of gas transfer into tailings and waste rock materials across the surface and instead block oxidation by controlling the transfer of oxygen from the atmosphere. Inert gas is injected into the mine waste at low flow rates and the positive but low flow purges the oxygen that tends to diffuse into the sulfide waste across the surface. The positive flow of IGM compensates for inward oxygen diffusion and creates a pressure drop across the cover layer preventing inward diffusion of oxygen and, hence, acid generation.The IGM processes are evaluated in this paper: theoretically, with a review of the theory of ARD and the current state of knowledge about the performance of notably dry covers as atmospheric oxygen barriers via models to predict the performance of the IGM technique practically, with a bench-scaled experiment.The results demonstrate the effectiveness of IGM to prevent oxidation of sulfide minerals and ARD in waste rock. The laboratory experiments further identified key variables to be used to monitor performance and control efficiency of IGM, which is now awaiting field-scale application.The IGM technology is a patented process by Terraquest Technologies Ltd (Canada) in USA, Canada and Australia. The IGM technology can be cost-effectively manufactured on-site with commercially available compressors and gas filtration membranes. It is predicted that low-cost covers can then be utilised with IGM, which in turn lowers the overall capital costs of ARD mitigation.CITATION:Ameglio, L and Barrie, H, 2015. Acid rock drainage prevention using inert gas mixture technology, in Proceedings Tailings and Mine Waste Management for the 21st Century, pp 85–96 (The Australasian Institute of Mining and Metallurgy: Melbourne)."

Jul 27, 2015

By E Widzyk-Capehart, T Bednarz, O Daud, N Cutmore

The interest of industry, in particular future mining, is pointing towards the use of novel visualisation systems to improve the operational efficiency of user interfaces. While the technologies used to enhance operators’ experience are advancing, the implementation of novel visualisation paradigms within mining operations is trailing behind other industries, particularly health and aviation. In this work, we present a number of initiatives and use cases of immersive virtual and augmented reality systems that can fit within the mining context. These ideas represent a step towards new platforms that might increase the efficiency and safety of mining operations through applications such as 3D panoramic video monitoring technology with annotated information coming from big data analytics and visual analytics processing engines. However, while the technologies are used in a variety of training settings, their application in the working environment is lagging behind. This paper presents examples of scientific visualisations that could be applied in a mining context to extend the possibilities of operators’ cognitive abilities and working efficiency. They are intended to foster a discussion within the mining community to move beyond the training realm and into the operational environment.CITATION:Bednarz, T, Widzyk-Capehart, E, Daud, O and Cutmore, N, 2015. Effective immersive visualisation systems for mining applications and beyond, in Proceedings Third International Future Mining Conference, pp 31–36 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Nov 4, 2015

By C T. Senra, A Souza

Increasing fuel prices, unavailabilty and high prices of tyres have imposed tremendous challenges for large open pit operations. Carajßs open pit mines, one of the largest iron ore projects in the world, has been particularly affected due to the high amount of giant trucks operating in this site. On the other hand, environmental constraints push the mining industry towards reductions in fossil fuels, noise and waste generation. As a feasible response to these requirements, an alternative mining method for open pit mining, aiming to reduce or even eliminate the need for trucks has been developed, based primarily on coal opencast continuous operations. This innovative approach for open pits involves the replacement of trucks by fully-mobile crushers, bench conveyors and ramp conveyors. Two different applications have been developed for exploiting waste and ore at Carajßs largest pit, named N4E. To make it possible, mine planning paradigms should be replaced leading to new conceptual design of open pits. This paper shows two case studies (waste and ore conceptual design) carried out at Carajßs mines to anticipate and put forward the future of open pit mining, proving that our industry would be greatly affected by this new way of exploitation, reducing thousands of tons of fossil fuels. Productivities can be enhanced and environmental performance greatly improved. In this approach mine automation can be easily implemented reducing operating costs and man's fatigue.

Jan 1, 2009

By M Bond, R R. Hargreaves, G W. Booth

There are numerous causes of speculative mineral resource and reserve inflation. Traditionally, these are linked to issues of data accuracy or misinterpretation, the use of overly optimistic estimation parameters or assumptions, an absence of independent expert verification, or the simple pressure to increase company value, covert or otherwise. Owing to its subjective nature, classification of resources and reserves remains an opaque process. Of necessity, Competent Persons rely on personal heuristic interpretations, ideally underpinned by appropriate estimation and classification experience across commodity and deposit types. Whereas independent verification of individual resource and reserve statements remains impractical, publicly available data can be interrogated for potential category inflation, particularly when viewed with exploration expenditure statistics included in annual company reports. Abrupt changes in category tonnages and market capitalisation without concomitant expenditure can aid in outlier detection. Consequently, a comparison of common exploration and resource reporting parameters offers a basis for risk assessing classification robustness, over time. In this introductory study, an analysis of globally listed companies was undertaken over a multi-year period, examining base and precious metal projects in both preproduction and operational asset classes. From these, a series of exploratory decision tree trigger points were generated against which target companies were anonymously identified and risk-ranked.

May 24, 2023