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This paper will present a series of examples drawn for a number of Australian and international mining companies showing their recent attempts at optimisation of capital. The results will be compared, contrasted and discussed in the light of six factors that are considered crucial to any analysis of this subject. The factors are: ò the market availability of capital ò the corporate strategy and performance ò the capital structure appropriate to the corporate positioning within the industry ò the parties to the optimisation equation ò the measurement of success of optimisation The factors above are not mutually exclusive and are generally interdependent so their order above is of little consequence. Other papers presented at this conference will dwell in more depth on all these factors, therefore this paper shall focus only on the key elements of each factor. By way of summary this paper will also address the issue of the longevity of optimisation - is it temporary or long term.

Jan 1, 1991

By C Rees, M Predebon, J Denney

It has been said on many occasions that æthe future of the mining industry of Australia, and indeed the world, lies in the hands of the studentsÆ. As a student, this can be a daunting, yet very exciting, statement. If nothing else, it is a direct challenge to the student body of the mining industry to take responsibility for its direction æafter 2000Æ. However, for the students to embrace this challenge, some responsibility must be borne by the universities and the industry itself to provide some direction and encouragement. Perhaps, therefore, the real challenge is to find the right balance between students, industry and education to best prepare the students for a career in the mining industry. The future industry will demand students who are capable and willing to adapt to change and technology and able to exert the vision and leadership required to ensure the mining industry continues to thrive well into the next century.

Jan 1, 2000

By Hedley TP

Success for underground coal mine operators in the 1990's and beyond will be dependent upon better understanding of the dynamics of their operating environment, and extension of emerging technologies to reach new levels of output and productivity. The Collieries Division of B.H.P. Steel International Group clearly identifies with the concept of business/product life cycles - and the need to adopt strategies that can drive the business successfully into the future. Three main thrusts within BHP Collieries Division relate to: 1) Detailed assessment of current mines to determine: a) The real output potential of the current facilities. b) What factors now inhibit the full potential from being realised. c) Opportunities that exist to enhance overall mine performance. 2) Based upon the findings of these studies, putting into place cost effective strategies and systems for the ongoing "tuning" of the mine. 3) of new/improved technology primarily in areas of: a) Coal cutting and underground coal clearance. b) Controlling the overall mine gas Regime.

Jan 1, 1987

By J F. Penrose

To obtain cost-efficient financing by way of securing an optimal credit rating, the operating and market risks of a single-asset mining project should be accommodated in the financial structure. Weak financing structures can cause projects to fail, as evidenced by the Murrin Murrin and Bulong examples; these can be compared to the investment-grade structure of Straits (Nifty), which managed operational, market, and financing risks well. Most mining projects are capital-intensive, and have heavy dependency on debt financing. A weak financial structure may result in the early failure of an otherwise sound and economically viable project. Appropriate management of technology, construction, and management risks generally will get a project built; of the project failures that occur, most are caused by a liquidity crisis as the project goes through ramp-up (the transition period between completion of construction and full operation). A projectÆs viability can be enhanced through sound hedging practices, while poor hedging can increase the likelihood of financial default.

Jan 1, 2003

By P Alspach, R Buxton, C Morgan, C Ross

Mining companies worldwide have an increasing interest in restoring indigenous ecosystems following mining. Low levels of plant nutrients and organic matter, pH extremes, heavy metals, physically challenging media, and difficult climatic conditions all hinder revegetation of steep rockdump slopes. Our techniques use colonising pioneer plants to accelerate natural soil development and plant succession processes on minesites that are difficult to revegetate with locally sourced plants by traditional techniques. Suitable treatments and pioneer species must first be identified for each rocktype. Field trials at the Stockton Coal Mine in Buller have shown that successful acceleration of moss and pioneer plant establishment is possible. Best plots showed a mean of 15 per cent moss cover and 3.3 per cent vascular cover after 12 months compared with 0.1 per cent and nil respectively for controls. Techniques have been extended to field-scale trials, using hydroseeders and dryblowers. These techniques show potential for practical land rehabilitation, whilst conserving local biodiversity.

Jan 1, 2003

By J L. Bos, D J. Readett

As mining progressed through the Girilambone oxide orebodies, down to the primary sulphide zones, each successive stratiform layer yielded copper bearing ores of changing mineralogy and grade. Constant changes, innovations and optimisation were required to be applied to the heap leach, solvent extraction and electrowinning operations, to efficiently produce LME Grade A quality copper cathodes from this ore. The changing ore types required various crushing, stacking and heap leach irrigation methods to ensure that optimum recovery from the predominantly low-grade copper ores was efficiently achieved. Subsequently, innovations such as heap aeration and heap rejuvenation techniques were implemented. The constant selective removal of copper from the maturing heap leach liquors, coupled with an increase in iron(III) concentration, required solvent extraction optimisation. Changes to the original solvent extraction circuit configuration, combined with changes in operating parameters and procedures, allowed effective processing with changing heap liquor compositions. The electrowinning tankhouse was also upgraded and optimised through continued testwork and monitoring, to maximise cathode production and quality

Jan 1, 2000

By Premur V

In industry and power production and distribution large quantities of fine wastes are produced. These are above all fly ash and phosphogypsum. Attempts are made to use them as secondary raw materials in industry and construction. Since they contain dangerous and harmful components or are nonhomogeneous their direct application is limited so that they are treated as waste. This paper reports on tests conducted with the aim of agglomerating the mentioned fine industrial wastes by pelletisation. The aim of this resarch was to obtain agglomerated product suitable for handling, transport and dumping. At the same time efforts were made to incapsulate harmful components by producing pellets with protective shells. Next, pellets without binders and with different binders were produced. Strength, resistance to freezing and solubility of pellets were tested. All the fine industrial wastes under survey were found to be suitable for pelletisation. The utilisation of appropriate binders ensures pellet strength required for safe handling and ecologically sound deposition of pelleted Material.

Jan 1, 1993

This paper describes some experiences in the design of flotation reagent schemes for the efficient flotation of complex gold ores containing free gold and/or gold associated with easily flotable sulphide minerals such as chalcopyrite and bornite. Historically, the design of gold flotation reagent schemes has been based primarily on experiences using high dosage levels of water soluble charged collectors such as xanthates and dithiophosphates and carefully controlled regions of pH. This approach has been effective with gold associated with complex sulphide minerals, in particular gold associated with iron sulphides such as pyrite. An alternative two-stage reagent approach is presented that is applicable to certain types of gold ores. This approach involves using very small dosages of uncharged water insoluble collectors at natural ore pH followed by a modified bulk flotation reagent approach for the second stage. The reasons for utilising this approach, when applicable, are discussed and illustrated with examples.

Jan 1, 1997

There are a number a stages in a project at which an audit must, or should, be undertaken. An independent audit may be necessary for the comfort of directors and/or financiers before the major finance is committed, but an internal pre-development audit is the opportunity for the management team to take stock of the project and reaffirm their confidence and commitment. Maxims for project success are given and a check list for pre-development audits is presented. The need of mid-development audits may arise and their brief will depend on the circumstances arising. A game theory approach to decision-making is demonstrated in which the alternative of fast-tracking a development is considered. At the conclusion of the project, before the team is disbanded, a post-development audit should be made. Valuable learning can come from this process which could give important guidelines for future projects and a check list is presented.

Jan 1, 1997

By Manula C. B

The total systems model for underground oal mining planning and design is a set of omputer programs which encompasses a realis- ic reproduction of the interaction between he geological, environmental, equipment, meth- ds and the health and safety aspects of the ining plan. The total system includes nine ajor subsystems - Geology and Reserves, Meth- ne Generator, Roof Support, Subsidence, Pro- uction, Rail Haulage, Cost, Water Generator, nd Ventilation. The subsystems themselves re divided into two categories based on the requency with which they are executed. Event riented Subsystems are executed either inde- endently, or at discrete intervals when cer- tain specific events occur. Dynamic subsystems 'unction interactively during the production :ycle. They transfer data to or request data `rom event oriented subsystems only when spe- ific events occur. Three specific areas for iodel application are in the measurement of system performance, the development of the '_ nterrelationships of the components of deep Wining process and the evaluation of new and Lnnovative mining technology.

Jan 1, 1977

By Lawson F

Pyrite concentrate and calcine from the Nanjing Lead-Zinc-Silver Mines, China, were leached with aqueous cyanide and thiourea solutions. More than half of the contained gold and silver was able to be extracted from the roaster calcines. The very fine dissemination of precious metal grains, high roasting temperature (850 - 900°C) and residual sulphur are believed responsible for the Iow extractions.A recovery of about 70 per cent for both silver and gold was able to be obtained with cyanide and with thiourea leachants when the pyrite was roasted in the laboratory at temperatures between 600 and 650°C.Thiourea, as an alternative leachant, has received much attention recently and a series of constant potential leaching tests was conducted.When the thiourea to formamidine disulphide mole ratio was about two, the precious metal extraction was greatest. In the Nanjing calcined material, this occurred at a potential of about 210 mV relative to a standard calomel electrode.

Jan 1, 1987

By R W. Wilson, F H. von Glehn

With ever-increasing energy costs and the modern focus on system efficiencies, the practice of æventilation-on-demandÆ is gaining momentum. Several examples, ranging from paper studies to practical examples have been recorded and another recent case study is presented here to encourage the practice. In comparison, æcooling-on-demandÆ has received far less attention. This paper explores the possible merits of this practice by investigating the theoretical response of cool intake airways and the thermal interaction between the air and the rock, in order to gain a better understanding of the system behaviour and to quantify the possible savings. A case study is presented that demonstrates the improvements that can be achieved. Recent developments that allow live interaction between ventilation network models and on-line monitoring systems, have the potential for intelligent active control and alarming of ventilation and cooling networks. This will facilitate and maximise the benefits to be derived from ventilation and cooling-on-demand.

Jan 1, 2005

By Gee C. E

Ore reserves at the Kambalda Nickel Operations of Western Mining Corporation are estimated using the polygonal method for calculating areas of influence of drillholes. All raw assay and survey data are stored on one disk pack on the Company's CYBER 73 computer located in Perth, about 600 km from Kambalda. The initial step involving the computer is to search all assay data and calculate all potential ore-grade intersections. As the orebodies are thin, structurally complex and many are in close stratigraphic proximity, the selection of intersections which have the best grade over at least a minimum mining width involves complex logic. The orientation of an ore surface at each drill intersection point and a zone code are added to each intersection by the geologist from geological plans prepared for each ore surface. The orientation data together with downhole surveys enables the calculation of inter- section true widths and the zone code links each recalculated intersection to the appropriate ore surface.

Jan 1, 1977

By Ormsby W, Peters M, Van Gils H, Kehprens P, De Boorder H

The northern margin of the Arunta Block is characterized by a metasedimentary and volcanic sequence of lower metamorphic grade than that of the central Arunta Block. Whereas the Harts Ranges have granulite to amphibolite metamor- phic grades, the northern margin only reached greenschist to lower amphibolite facies. Most of the high grade area of the central Arunta Block appears to be unprospective, but the lower grade marginal fringe contains most mineral pros- pects to name a few: Barrow Creek, Molyhill and the Jervois Mine. Numerous smaller prospects occur in this marginal zone. Four major lithostratigraphic units can be recognized in the Jervois Mine area: 1. Gneissic Suite consisting of granitic and rhyolitic gneisses which are characterized by a distinct intersection lineation. 2. Metasedimentary Suite of cordierite- biotite schists and chlorite-biotite schists. 3. Mine Sequence, consisting of spotted schists with andalusite and cordierite, quartz- sericite-feldspar schists with distinct rhyo- litic remnants and quartz-sericite-feldspar schists which contain the lode horizons:

Jan 1, 1984

During conventional eddy current separation, a repulsive force is applied to metallic particles by placing them in a rapidly changing magnetic field generated by a spinning magnetic rotor carrying an arrangement of alternate magnetic poles. This method works effectively for larger non-ferrous metallic objects, such as aluminium cans, but as the metallic particles become smaller, the bulk repulsive force on the particles is increasingly replaced by a rotational torque. Therefore, for small metallic particles it makes sense to use particle rotation, rather than particle repulsion, to effect a separation. Eddy current separators using particle rotation are similar in construction to present separators, but are designed to produce a rotating field of essentially constant angular velocity and field strength. Practical and economic particle rotation eddy current separations are possible down to particle sizes of about 200 ¦m, but separations, at probably uneconomic rates, can be carried out on particles as small as 50 ¦m.

Jan 1, 2000

In recent years there have been a number of excellent towns built for mining communities in remote parts of Australia. Planning has been thorough, and very large capital expenditures have been made by companies to provide high standards of accommodation, services and amenities. But so often the phrase 'company town' comes to be applied, expressing the frustrations of the residents, working for a single employer who dominates their lives, and of the company, which would prefer not to have to build and operate a town. The much-vaunted early success of some iron ore, bauxite and coal projects has led to a belief that the success of all mining projects is assured. Those holding this belief ignore the vagaries of mineral deposits and of markets, and the need to amortise large high-risk capital expenditures, much of which is spent on social and industrial infrastruc- ture. This expenditure on infrastructure does not have to be

Jan 1, 1975

By S B. Martin, M P. Simpson, J L. Mauk

The Martha deposit in Waihi, New Zealand, is a giant adularia-sericite epithermal gold-silver deposit that formed 6.0 to 6.1 Ma, and has produced over 6.4 Moz gold and 39.9 Moz. Fluid inclusion analyses were undertaken on a limited number of vein samples from Martha. The results from this eight week student project are preliminary but agree with previous studies. There is little variation between primary and secondary inclusions and between different vein types, except that homogenisation temperatures of the inclusions in sphalerite grains are on average 20¦ to 30¦C higher than the average quartz vein values. Overall the temperatures of homogenisation ranged from 182¦ to 258¦C and final ice melting temperatures ranged from 0.0¦ to 2.8¦C. Unusual black inclusions were also found associated only with the ginguro bands. Some of these appear to be solid sulphide inclusions but others are not so clear.

Jan 1, 2007

The Charters Towers 1:250 000 Gravity Data Set represents a new initiative of the Department of Resource Industries (DRI, formerly Queensland Department of Mines) to provide high quality regional gravity data over areas of the State that have high potential for new mineral discoveries. The Department has adopted a strategy to upgrade geophysical data to complement the ongoing Regional Geological Mapping Program (RGMP) of this Department and in areas where the data would be of most benefit to the mineral exploration industry. Part of this strategy is to ensure that these data are released within 6 months of data collection.The 1989 Charters Towers survey was completed as a joint project with the Bureau of Mineral Resources, Geology and Geophysics (BMR), and is the first regional geophysical data acquisition project undertaken by the DRI. Prior to this survey, the only gravity data in this area dates from the B MR regional surveys carried out between 1960 and 1967.

Jan 1, 1990

By I Mason, A Bray, K Smith, T Sindle

Borehole radar is a proven geophysical technology that can be used to map an orebody ahead of mining. This paper will present a case study, where borehole radar is being used within the mining cycle to map out orebody blocks, both as a strategic and tactical tool. Refined equipment and procedures now enables a slimline borehole radar tool to be deployed on the end of drill rods, making it easier and faster to deploy in an underground mine with minimal impact on the mining process. Boreholes are drilled in advance of mining; cover holes to ensure the competence of the hanging wall and geology holes to determine the location and grade of ore are two such examples. All of these boreholes can be entered using a borehole radar tool to map geology and structure ahead. The radar data can provide images of the orebody as well as help detect potential water bearing structures that could impact on safety at a mining face.

Jan 1, 2009

The correct design and effective operating strategies of metallurgical plants require a constant analysis of data gathered for process control, or for due accountability. Conventional, oldfashion statistical tools often fall short of helping management, either because they are too complicated and ambiguous, or because they fail to address structural problems leading to causes of setbacks. This paper focuses on three statistical tools known for their practicality and the in-depth perspective they offer in attempts to retrieve important information from existing data. These tools also provide a better appreciation of the importance of carefully selected data quality objectives. Chronological data are meticulously gathered and stored at considerable expense: They have value, and it is the duty of management to take full advantage of them. These three selected tools are the variogram and its auxiliary functions, the moving average and its auxiliary functions, and the relative difference plot. This paper offers solutions, and a reference for managers to optimise metallurgical plants.

Jan 1, 2002