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By H. Wagner

The discovery of the gold-rich Main Reef Group of reefs on the farm Langlaagte in 1886 marked the opening of the richest and most extensive goldfield in history. Mining of the narrow reefs progressed from the outcrops to more than 3,5 km, and has made South Africa the foremost mining country in the world. Changes in the political and socio-economic climate create a new challenge to the gold-mining industry. The most significant of these is the emergence of Black trade unions, with their demands for higher wages, improved safety, job advancement, and abolition of discriminatory legislation. Industrial conflicts on gold mines have risen significantly in the past ten years, and are likely to continue in the future, although the causes of these conflicts may change. Events largely outside the control of the gold-mining industry, such as the improved dollar price for gold and the depreciation of the value of the rand relative to major currencies, have enabled the industry to meet the demands for higher wages and to narrow the wage gap. However, labour productivities have improved insignificantly and are a cause of major concern for the future development of the industry. Continued pressure in the industrial-relations area, the inflation of working costs, and the extension of mining operations to greater depths and more difficult areas create major challenges to mine managements and mining engineers. Significant improvements in mining technology, environmental control, and safety will have to be made to ensure the long-term survival of the industry. The unavoidable introduction in deep gold mines of mechanization on a larger scale to meet the requirements of higher labour productivities and a better and safer underground environment will have a major impact on the cost and management structure of these mines. Engineering will assume a more important role on deep gold mil1es, and management styles and structures will have to be adapted to accommodate these changes. The supply of suitably qualified engineers, technicians, and artisans will be a crucial factor controlling the rate of technological change. The industry is well-geared through its Group system to meet these challenges, and to benefit from the experience gained in the operation of highly mechanized mines. However, changes take time to implement and there is very little time left.

Jan 1, 1986

By R. E. Phillips, L. A. Cramer, R. T. Jones

Atomaer (Pty) Ltd is a technology-driven company with interests in Western Australian nickel. Atomaer (RSA) Pty Ltd is a process technology company operating in Southern Africa. It is a subsidiary of Atomaer Holdings Pty Limited (Atomaer), which has operating companies in Australia, Africa, South America, and Europe. In addition, Atomaer has substantial shareholdings in Braemore Resources Plc, a nickel company with interests in sulphide nickel projects in Western Australia and Southern Africa listed on the Alternative Investment Market of London Stock Exchange (AIM); Mintails Limited, a gold company with interests in gold operations in South Africa listed on the Australia Stock Exchange; and Brinkley Mining Plc, a uranium company with interests in Southern Africa listed on the AIM. Independence Platinum Limited (IPt) has been formed by Atomaer to undertake the commercial development and exploitation of Mintek's ConRoast technology with the strategic objective of providing independent smelting and refining facilities with lower capital and operating costs for the treatment and processing of platinum concentrates, including those with high chrome and/or nickel and/or low platinum group metal values, for the development of platinum projects by junior resource companies in South Africa. The platinum mines of South Africa have traditionally exploited the Merensky Reef of the Bushveld Complex for platinum production. 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 platinum producers have begun to mine the UG2 reef because of its cheaper mining costs. UG2 ore usually has lower platinum group metal contents and higher chrome values. The new junior resource companies have gained access primarily to UG2 reefs. Consequently, platinum mining is becoming more UG2-based and the resulting concentrates contain high levels of chromitite. UG2 concentrates are difficult to smelt in the current six-in-line submerged arc furnaces, and this leads to increased capital and operating costs for those smelting operations. The platinum mines of South Africa produce the majority of the world's platinum metal used in automotive catalysts and jewellery. As the platinum market is forecast to grow at a healthy rate into the future, the SA producers Anglo Platinum, Impala, Lonmin, and Northam are planning to expand mining operations in the next decade. Furthermore, a number of smaller new producers who are accessing other mineral resources are entering the buoyant market and will produce platinum concentrates for purchase or toll treatment. Hence, a shortage in both smelting and refining capacities is anticipated. Further smelting and refining facilities independent of the major platinum producers will be required in South Africa by 2010. Mintek's ConRoast technology is best suited to fill the need to treat a high proportion of UG2 concentrates in a cost-effective and technically efficient manner. Atomaer base metals technology has been developed for rapid leaching of nickel and other base metals from alloy. Significant reductions in capital and operating costs are expected from the combination of the two advances in process technology compared with that installed at the existing smelters and refineries that were established over 20 years ago. Independence Platinum will be listed on AIM and the Johannesburg Stock Exchange (JSE) in 2007, and developed as an independent, vertically-integrated platinum company using its independent smelting and base metals refining facilities as a strategic platform to promote the development and mining of platinum projects by junior resource companies in South Africa through technical co-operation, strategic alliances, joint ventures, off-take, toll-refining, and marketing agreements.

Jan 1, 2006

By R. J. Davidson, M. V. Nkosi, V. Veronsee

When activated carbon is used for the recovery of gold and silver from Witwatersrand gold-plant solutions, severe fouling of the carbon by calcium carbonate is experienced. Also, difficulty is encountered in the retention of the adsorbed silver on the carbon because it is displaced by gold. The acidification of plant pregnant solutions before they are contacted with carbon was therefore investigated as a means of overcoming these shortcomings. The results from batch laboratory experiments on the effect of pH on gold adsorption from plant solutions and from synthetic solutions of high ionic strength indicated reaction rate optima in the region of pH 5 and below pH I. The effect of pH on the equilibrium capacity constant for gold adsorption onto activated carbon was also studied, using both a plant solution and a synthetic solution of high ionic strength. In the case of the plant solution, the results suggested only a marginal change in carbon capacity for gold in the pH range 12 to 6, with significant increases in capacity at lower pH values. In the case of the synthetic solution of high ionic strength, the capacity constant was found to increase steadily as the pH was lowered from 12 to I. It was also found that the gold adsorption capacity of the carbon was significantly better for the synthetic solution. No precipitation of gold from the pregnant solution (gold content approximately 6 g/t) was noted as the pH was decreased to values as low as ,. However, about 25 per cent of the 0,6 g/t silver content was found to have precipitated when a pH value of 3,0 was attained. Further substantial precipitation of silver took place as the pH was lowered further. The investigation was extended by the passing of suitably acidified gold-plant solutions through one or more columns containing activated carbon. Preliminary results showed that the particle size of the carbon had a significant effect on the rate of gold adsorption. No displacement of adsorbed silver by gold was observed to take place at an influent pH of 5. In a typical continuous 'merry-go-round' operation involving three columns in which gold was eluted from the lead column every 48 hours, effluent values averaging 0,001 g/t gold could be consistently achieved under simulated plant-operating conditions. The results were obtained at relatively high velocities of influent solution, resulting in very little hold-up of gold in the carbon-recovery circuit. More than 99,9 per cent of the gold and more than 99,8 per cent of the silver was recovered in the adsorption circuit, while the elution data indicated an average elution recovery of 99,8 per cent of the adsorbed gold and 98,2 per cent of the adsorbed silver. Elution of the carbon was carried out at 91 QC. This involved pretreatment of the carbon with a sodium cyanide solution, followed by elution with deionized water. At a loading flowrate of 66 bed volumes per hour, the indicated take-up of metals on the carbon in the lead column was as follows; 53 k g/t gold, 6 k g/t silver, 57 k g/t copper, 14 k g/t nickel, and I k g/t zinc. Only a trace of cobalt was adsorbed. At an elution rate of 1,7 bed volumes per hour, the lead column was found to be completely stripped in under 5 hours, with concentrations of gold in the eluate reaching 6 to 7 g/l. Besides the excellent adsorption and elution results obtained when acidified pregnant solution was used, no fouling of the carbon was indicated, and the pressure drop across the three columns was considered to be well within practical limits. When compared with conventional zinc precipitation, the carbon process would appear to have considerable economic merit, with strong indications that significant savings would be possible both in capital and operating costs. Further pilot-plant experiments, preferably on a gold plant, would be required before a meaningful cost comparison could be made with the existing process.

Jan 1, 1979

By G. M. Wright

We are only as good as we are perceived to be by others and, whilst there is every opportunity to revise and polish our written works, there are no second chances with a spoken presentation. At every level, conferences and seminars have been metaphorical graveyards for many an academic reputation.

Jan 1, 1990

By Neal Harries

The monitoring of rock slopes is a common procedure in the management of hazards associated with slope instability. Slope stability radar has become widely accepted as the state-of-the-art method for management of hazards associated with unstable slopes in open pit mines. This is confirmed by the rapid adoption of the technology since inception in mid 2003, with over 70 GroundProbe slope stability radars now in use at open pit operations throughout the World. The use of a monitoring system such as slope radar to identify slope hazards is only part of the solution to minimise the consequences associated with slope instability. The presence of the hazard must also be effectively communicated to the mine personnel, so that the correct response to the hazard can be enacted, and the risk mitigated to an acceptable level. In some surface mines, due to the geotechnical characteristics of the rock mass, hazards can develop rapidly; with slopes progressing from stability to ultimate collapse in just hours. In these situations, it is vital that efficient systems are developed to evacuate the area of the pit affected. Such a system has been developed by GroundProbe in South Africa, with the vital driving force for the project being provided by the Anglo Platinum Mogalakwena mine operation based at Mokopane. The mine based development of the system was perceived as an essential aspect in the development of the successful system. From an early stage, the mine provided essential input on both hardware and software developments to allow the system to be rapidly integrated into the mining operation. This paper describes the pit evacuation alarm system that was developed and discussed the benefits obtained from a mine based development program.

Jan 1, 2008

By P. M. Vercruijsse

Dredging is an industry in constant transformation. It has changed tremendously in the last decades. The traditional dredging activity, like construction and maintaining ports and harbours, desilting of drainage and irrigation channels, keeping reservoirs at depths and removing sediments from waterways, is still of importance. However, it is surpassed by other applications of dredging technology. Reclamation is an important example, where large amounts of sand are dredged, transported over large distances and used to make new land for industrial, housing, airport and other infrastructural purposes. Beach nourishment and other protective measurements should be mentioned here as well. Other applications like offshore winning of oil and gas, environmental clean-up, mining of interesting minerals like gold, diamonds, titanium and tin as well as aggregates from inland and offshore deposits are of importance. For all of these dredging applications equipment is required, and with changing circumstances and constraints, the design and use altered significantly. Larger dredging depths and increasing capacities require an impressive scale-up of equipment and tools. A demand for higher accuracy and selectivity set the requirement for a higher level of automation and control in combination with a well trained crew. Operations under more difficult circumstances and with other soil characteristics necessitated the development of new dredging components and systems. A sound basis for all developments was and still is a better understanding of the various dredging processes. This paper will highlight some eye-catching developments in the dredging industry. It will focus on issues in the field of hydraulic transport such as ever increasing capacity and dredging depth, as well as the pumping of large size materials.

Jan 1, 2007

By J. Grobler, J. Zietsman

"Understanding the influence of feed material mineral assemblage on spiral separation is paramount for the successful and consistent operation of a spiral plant. Plant stability is required to maintain high recovery of valuable heavy minerals (VHM). Standard material analysis methods used in the heavy mineral industry to evaluate spiral separation behaviour are unable to quantify performance differences in the case of large variations in feed assemblage. This study illustrates a systematic approach to evaluate spiral separation performance. This technique was applied on a four-stage spiral plant. The performance information was used in a circuit simulation to clearly illustrate the importance of correct setting of the spiral splitter position and resulting spiral mass loading to ensure optimal circuit stability and maximum VHM recovery.IntroductionHeavy mineral sands deposits generally consist of naturally fine-grained, free-flowing sand due to the way in which the deposit was formed. The size of the heavy minerals market is roughly 8 Mt/a of zircon and titanium combined (Iluka, 2013). If an average combined feed grade of 5% zircon and titanium and an average combined overall product recovery of 80% are assumed, the resulting run-of-mine feed tons that would require primary spiral beneficiation is 200 Mt/a. The number of spirals required for the processing of this material, assuming 6500 operating hours per annum, an average of 2 t/h per start, and the same number of rougher spirals as other duty spirals, is over 30 000 spirals for the heavy mineral sands business alone. These numbers clearly illustrate the importance of the spiral in the heavy mineral industry.The aim of a spiral plant in the primary processing value chain of a heavy mineral process is to reject non-valuable quartz (a light mineral) from various valuable heavy minerals (VHM). The product from the spiral plant is a heavy mineral concentrate that has a reasonable grade (more than 90% heavy minerals) at a reasonable heavy mineral recovery (greater than 90%). This benchmark is fairly easy to achieve if all the mineral particles are well liberated (as in the case free-flowing sand), the feed is properly deslimed (-45 µm fraction removed to less than 5% of the solids mass), and the spirals are fed within design solids concentration (water to solids ratio) and design spiral load (dry tons per hour per start)."

Jan 1, 2017

By H. D. Mtegha

Mining is important to the economies of both Tanzania and Namibia. Recently, both nations revised their national mineral policies to ensure future economic benefit. The main difference in the mineral policy-formulation processes followed by the two countries is identified as the degree and timing of stakeholder involvement during the articulation process. In the case of Namibia, the stakeholders were involved from the start in identifying issues and in suggesting policy solutions. In contrast, the Tanzanian process involved stakeholders after a framework had been developed by a task team. The Tanzanian emphasis was on attracting foreign investment into a traditionally state enterprise system of mineral investment and development. One can argue that the policies developed met the initial requirements, and both are, therefore successful, despite the different processes of policy formulation that were used. However, several fundamental questions arise as a result of the two approaches. This paper attempts to answer these questions by providing a comparison of the processes used for developing and formulating the mineral policies of Tanzania and Namibia. It concludes that the Namibian consultative process is perhaps more sustainable in the long-term because of its wider public support. Time will tell which of these policy-formulation processes provides a basis for sustainable economic growth for developing mineral economies.

Jan 1, 2010

By B. M. Kunar

It is well known that job-related hazards and individual factors influence occupational injuries. However, research involving coalminers has been limited. This case-control study assessed the relationships of job-related hazards and individual/life style factors with injuries among underground coal miners. It compared 245 cases with at least one injury during the previous two-year period with 245 matched controls with no injury. The data were gathered via personal interview and analysed using the conditional logistic model. The significant risk factors were materials handling (adjusted OR 5.15), poor environmental/working conditions (2.63), geological/strata control-related hazards (2.35), lack of formal education (3.00), sleep disorders (1.86), alcohol consumption (2.32), disease (2.23), having a large family (5.40), and risk-taking behaviour (9.40). Machine-related hazards, sleep disorders and alcohol consumption primarily affected workers aged less than 45 years; whereas, environment/working condition-related hazards, presence of disease, smoking, risk-taking behaviour and large family size were more likely among workers aged 45 or over. Keywords: Occupational injuries, sleep disorders, job hazards, alcohol, coal miners

Jan 1, 2010

By M. H. M. von Wielligh

"Brick manufacturers supply a variety of uniquely coloured facebricks to the building industry, which requires a high level of colour consistency in the products. Colour variation in bricks is influenced by the composition and consistency of the white clay raw material. By blending varieties of naturally occurring white clay the manufacturers produce a unique range of facebrick products. Homogeneity of the white clay raw materials mined at Lenasia is crucial for producing bricks of consistent colour. Geostatistical investigations of the major element distributions (SiO2, Al2O3, Fe2O3, and K2O) and loss on ignition (LoI) were conducted. An analysis of the spatial continuity of these variables followed by ordinary kriging indicated that the upper white clay layer at Lenasia is richer in K2O and Fe2O3 than the lower layer. Consistency in the colour of facebricks depends critically on careful management of the variability in the K2O and Fe2O3 content of the clays. The geostatistical approach to understanding the distribution of elements in the clay allows miners to construct clay stockpiles of consistent quality for feeding the brick-making process. Geostatistical investigation of the chemical contents in other clay domains within the deposit is recommended, and could be extended to all facebrick manufacturers to assist in improving the colour consistency of their products. IntroductionMost clay in South Africa is used in the manufacturing of tiles, pipes, bricks, whiteware, refractories, and pottery. Bricks are manufactured from a wide variety of clay types, the behaviour of which during firing depends critically on the the clay mineralogy and chemical composition, but this relationship not well understood (Stein, 1982). The variety among clay deposits is related to the different processes of formation (Deer, Howie, and Zussman, 1992). The geochemical composition of the clay can vary between layers and within the same layer in an individual deposit (Lurie, 1984). The properties of clay minerals are determined by their structures and the different combinations of silicate layers, cations, and hydroxyl ions (Kingery, Bowen, and Uhlmann, 1976). South African clays can be classified as either kaolinite or montmorillonite and are seldom found in a pure form (Lurie, 1984). Different clay minerals affect the drying, forming, firing behaviour, colour, and quality of the brick product in different ways. Laboratory tests (full physical analysis) can indicate the suitability of a clay for the manufacture of ceramic products. The minerals most essential for the manufacturing of clay brick products are kaolinite, illite, and quartz (Stein, 1982)."

Jan 1, 2017

By K. R. Noble

The planned extraction of the No. 1 shaft pillar at Blyvooruitzicht Gold Mine highlighted a number of potential problems. In spite of the relative shallowness, careful thought had to be given to stope phasing owing to the detrimental effect of the anticipated geology and the fact that uninterrupted hoisting was necessary. Extensive use was made of computer modellig to design the stope phasing, determine the influence of regional support and to predict the direction and magnitude of displacements in the shaft. The paper describes the success of this design approach, and measured displacements in the stoping horizon and shaft barrel are compared to those obtained from the original computer model

Jan 1, 1987

Metso Minerals Process Technology Asia-Pacific (MMPT-AP) has been working with many mining companies worldwide performing `Mine to Mill' or Process Integration and Optimisation (PIO) studies. MMPT-AP has developed a proven methodology to improve the efficiency of the mine-mill interface and gain maximum benefit. The PIO methodology involves rock characterisation, mathematical modelling and simulation to generate a list of operational and control changes for both the mine and concentrator. Following the methodology, the list of recommendations is developed relatively easily; the more challenging part depends on the company. Success of a PIO project relies on the ability of an organisation to implement change - both operationally and culturally: the human element. When a PIO project is started, there is initial interest and commitment from the company. But how can this be maintained? How does an operation know if the benefit continues? MMPT AP is now developing long-term relationships with clients to ensure that the increased production and improved efficiency continues. Direct and indirect measurements are used to determine the key factors involved and to understand the cause/effect relationships. Simulation tools also can be used to compare current with recommended practices - so when material properties vary over time, the benefits can still be quantified. PIO is about empowerment: by measuring and understanding what parameters affect concentrator performance, the site personnel now have the knowledge to make a difference. Rather than simply reporting variable or poor concentrator performance, operations can predict when production will be affected and put controls in place to prevent it from happening. This requires support and commitment from the company or `buy in'. Ensuring this buy in continues is the challenge facing every company involved in PIO work - but the benefits are well worth it. This paper will review MMPT-AP's experiences in implementing PIO projects in the long term: from both the consulting and operational viewpoints. MMPT-AP's involvement with a number of companies will be discussed as examples of what works and what does not.

Jan 1, 2007

By P. F. Ledwaba

"Artisanal and small-scale mining (ASM) in South Africa received official recognition after the change in government in 1994.The Reconstruction and Development Programme (RDP) recognized the sector as a vehicle for social and economic development for historically disadvantaged South Africans (HDSAs) who had previously been excluded from participating in the mainstream economy. Having recognized the ASM sector, government introduced several interventions and support structures to foster the development of ASM, to encourage participation of HDSAs, and to address challenges facing the sector. The objective of this paper is to assess the progress made, with particular regard to challenges in the sector. The paper focuses on the policy requirements that were deemed important for the growth of the ASM sector by the White Paper on Minerals and Mining Policy (1998). These can be collated into five categories: access to mineral rights, access to finance, access to markets, technology and skills, and institutional support. The paper provides a review of the support interventions, their intended roles and impact on the sector, and identifies existing gaps and possible ways of dealing with the challenges. There is a need for research to assess the real impact of these past and existing interventions on the ASM sector to draw lessons for future development.IntroductionThe significant rise in artisanal and smallscale mining (ASM) activities worldwide has led to many countries recognizing the sector. ASM takes place in approximately 80 countries (World Bank, 2013). It is estimated that the sector employs between 20 and 30 million people around the world (Buxton, 2013). This compares to between 3 and 3.7 million in 1999 (International Labour Organization, 1999). ASM activities are widespread, occurring mostly in developing countries in Africa, Asia, Oceania, and Central and South America (World Bank, 2013). There has been a significant increase in the number of people participating both directly and indirectly in the sector and this is expected to continue given the socio-economic realities of most developing countries. High levels of poverty and unemployment and growing inequality continue to be largest problems facing the majority of developing countries today. The ASM sector plays an important role as a source of livelihoods, particularly for those residing in rural areas with limited economic opportunities. In the majority of countries, the recognition of the ASM sector was driven by its increasing contribution to socio-economic development through job creation, poverty alleviation, and rural development. In response, a number of intervention strategies were introduced in support of the sector to address its negative impacts and to increase its potential benefits."

Jan 1, 2017

By A. A. Hazell

Mine management by objectives By A. A. HAZELL The author discusses the objective areas of mine management. Setting objectives is seen to be a conscious process which starts at the highest level of management. This enables clear objectives to be set at each lower management level. The methods of setting objectives in the areas of stope production, productivity and manager performance are set out in detail. In the area of manager performance emphasis must be placed on the practice of management. It is concluded from results obtained that "management by objectives" produces better than average perormances.

By C. Ringas

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

Jan 1, 2007

The optimal design of production phases and ultimate pit limit for an open pit mining operation may be generated using conventional or stochastic approaches. Unlike the conventional approach, the stochastic framework accounts for expected variability and uncertainty in metal content by considering a set of equally probable realizations (models) of the orebody. This paper evaluates the performance of a new stochastic network flow approach for the development of optimal phase design and ultimate pit limit using a gold deposit as the case study. The stochastic and conventional frameworks as considered here utilize the maximum flow and Lerchs-Grossman (LG) algorithms, respectively. The LG algorithm is restricted to considering an estimated (average-type) orebody model, while the stochastic maximum flow algorithm is developed to simultaneously use a set of simulated orebody realizations as an input. The case study demonstrates that, when compared to the conventional LG algorithm as used in the industry, the stochastic approach generates a 30 per cent increase in discounted cash flow, a21 per cent larger ultimate pit limit, and about 7 per cent more metal, while it maintains a consistency in phase size.

Jan 1, 2012

By t. Knezicek

Tuzla Coal Basin in Bosnia and Herzegovina is the largest coal area in the State. Regional mining industry sensed the need for mining machinery database development in order to achieve easier planning purposes and equipment selection for open cast mines in Tuzla Coal Basin. Several databases for mining machinery used on the bituminous deposits, i.e. on brown coal and lignite mines, were developed at the Faculty of Mining, Geology and Civil Engineering, Tuzla. System Development Method was used as the approach to the database development, generating relational structure of database. First database was established for trucks and was presented as simple table, drawn and filled on the paper sheet. In the next phase, data were stored in spreadsheet type software (Quattro Pro and Excel). Lately developed database is Bucket Wheel Excavator database designed in MS Access. Two concepts, spreadsheet and Access, were integrated into one large database, enabling manipulation of hundreds of data at one place. Required adaptations of existing database in MS Access, enables Access to be used as an integration resource. Database is designed to reserve free memory for input data for mining equipment not considered so far, such as spreaders, crushers, belt conveyors, tripper cars, etc. New, integrated database, at this stage, can be imported to any type of commercial or individual software where needed. Mining machinery integrated database for open cast mine operations is under going testing in a State company, Coal Mines Tuzla. Keywords: Tuzla Coal Basin, machinery database, SDM, relational database

Jan 1, 2003

By B. Gamble

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

Jan 1, 2007

By Willie Hefer

Contents ?Purpose ?Introduction ?Deviation of bias results ?Operational correctness ?Maintenance and Costs ?Conclusion ?Acknowledgements

Jan 1, 2005

By R. Rubin, P. A. Laxen, G. S. M. Becker

An account is given of developments in the use of activated carbon for the recovery of gold from cyanide solutions. The carbon-In-pulp process employed at the Homestake Mine is described, and its various applications in South Africa and their effectiveness are discussed. Probable future work on the carbon-in-pulp process and other possible applications of carbon for the recovery of gold are outlined.

Jan 1, 1979