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By Dodd SF

Valuation of mining companies and their underlying assets prepared by brokers' analysts are, by necessity, approximations. The reliability of the valuations is entirely proportional to the quality of available data, the reliability of forecasts and the nature of underlying commodity price assumptions. The latter is perhaps the greatest single cause of gross variations in company and asset earnings estimates and- valuations. Assumptions are often necessary regarding commodity price achievement based on commodity hedge positions. Public disclosure from listed companies provides a sound base from which to project earnings, cashflows and balance sheets. The uncommon disclosure of projected production and cost schedules often reduces the reliability of future estimates. The application of reserve and resource estimates is contentious with practitioners applying differing weightings to importance of resources in estimating mine lives (and therefore cashflow streams). Valuation methods applied in equity markets usually focus on relative value and the identification of pricing anomalies. The commonest ""rules of thumb"" applied in the valuation of mining companies (and therefore their underlying assets) is with the use of year specific price/earnings (P/E) and price/cashflow (P/CF) ratios, with low multiples suggesting undervalued assets, high multiples overvalued situations (but these rules can often be clouded by market expectations of underlying commodity price movements). Another simply applied valuation tool is to examine the examine the value placed on reserves and resources by the market. Inexpensive gold in the ground (expressed as $ of market capitalisation per ounce of reserves or resources) might indicate a buying opportunity, but the market does discount the value of gold in the ground prior to mine development and where development risk is perceived.

Jan 1, 1994

The association of deep well turbine type pumps with metal mining is by no means a new one, though undoubtedly each application has certain features of interest, conformable with attendant circumstances. Although all conditions pertaining to a particular operation in one mine are rarely, if ever, duplicated in another mine, it is felt that some aspects will be parallel, or in various ways comparable.Therefore the following descriptions of an installation of a deep well turbine pump as part of dewatering plant in connection with shaft sinking may be of general interest to metal mine operators.The Man and Supply shaft at Mount Isa Mines is designed as shown in plan by Fig. 1. It is the main entrance and service shaft for the entire property and hence is in constant use. Arrangements for sinking must be such as to cause little or no impediment to routinehoisting work. Also, being the main shaft, it has been essential to deepen it in step with successive level developments.During the period of operations at Mount Isa only a limited time has been available to complete succeeding levels down to the present No. 7 haulage level (895 ft.), and sinking operations in soft, broken, leached, and heavy water-bearing country have presented many features militating against reasonable speed and cost. Outstanding among these difficulties has been the large volume of water contained in the pervious brecciated country.

Jan 1, 1939

Factual data about the sedimentation in the Newcastle Coal Measures are presented. Data concerning the total coal measure sequence (isopachs, sand/shale ratio, and total coal thickness variation), data about three coal seams (Borehole, Dudley, and Victoria Tunnel) and data about interseam conglomerate units are discussed.From this data conclusions are drawn about the coal measure environment. The western edge of the coal basin, the Lochinvar Dome, although a high feature, was apparently stable during coal measure time. Despite its height it apparently supplied little sediment to the basin.The northern and north-eastern edge, which was unstable, supplied most of the coarse detritus (including the conglomerates) to the basin. The conglomerates show patterns of fluvial origin but after a period of "normal" variations in pattern they become restricted to two parallel zones evidently tectonically controlled. Deposition of conglomerates is episodic and separated by periods of coal formation when deformation was apparently slight. Formation of each of the three seams considered followed a rather similar pattern- each show development of thick coal around the basin edge and poor thin coal in the "axial" region of the present synclinal structure.Evidence of ill situ formation of some areas of the seams is discussed and periodic deformation of the basin during coal measure time is postulated.The unusual character of this coal basin, in particular the very coarse units, is stressed, despite the presence of many "normal "coal basin features.

Jan 1, 1970

A pyrite flotation concentrate assaying 0·065 oz/ton gold was investigated to determine the mode of occurrence of the gold. Ftom cyanidation and acid leaching experiments it was concluded that O· 02-0· 03 oz/ton goldwas in solid solution in pyrite and the balance of the gold was finely dispersed as grains throughout the pyrite.Autoradiography and electron-probe examination of possible areas in briquetted concentrate did not detect any grains of gold. Neutron irradiation and gamma spectrometry confirmed on 100 mg samples the fire assays obtained on 1 assay ton samples.Oxidation to hematite and reduction to magnetite at 600°C made practically the whole of the gold extractable by cyanide. This technique could be of major significance for gold ores which contain a substantial amount of "refractory" gold.

Jan 1, 1969

A calibration of the Frantz isodynamic magnetic separator relates the current in the electromagnet and the transverse slope of the chute to the specific susceptibility at which separation is being effected. In addition to providing a rapid measure of the specific susceptibility of minerals and composite grains, the calibration provides a guide to operation of the Frantz isodynamic separator for mineral separation, and to the nature of composite grains. The most sensitive magnetic separation is obtained by using the highest practicable current and transverse slope, and the lowest practicable longitudinal slope.INTRODUCTIONProbably all minerals have a magnetic susceptibility measurable by sensitive techniques. However, magnetic separation between minerals which have low but different specific susceptibilities, and which for many purposes are considered essentially non-magnetic, has only become practicable with the development of the Frantz isodynamic separator.The construction and principle of this highly sensitive separator has been described by S. G. Frantz as an appendix to a description by 'Gaudin and Spedden (1943) of its application to the separation of sulphides constituting mill products.Various publications (e.g. Hess, 1949, Hutton, 1952) refer to its use in separating the mineral constituents of rocks, ores, and unconsolidated sands.As used in this study the Frantz isodynamic separator consists of a vibrating chute mounted centrally between the pole pieces of an electromagnet (Fig. 1). This unit may be inclined in any direction by the universal mounting, and the electromagnet current is continuously adjustable from 0 to 1·5 amperes.

Jan 1, 1957

By Boden A

A procedure was developed for recovering metal values from copper-smelter fume. The fume is first leached to neutrality with dilute sulphuric acid to obtain a solution of zinc sulphate containing a low level of impurities. The tailings from this leach are treated with hydrochloric acid in two stages, in which tin and zinc are quantitatively leached and recovered as a tin concentrate and a zinc sulphatelzinc chloride solution.About 80 per cent of the lead sulphate is converted into lead chloride, which can be recovered as a pure product.Data on the effect of temperature, acid concentration, aeration, and solid/liquid ratios on the hydrochloric acid leach are presented, and the fate of the most important metals during the recovery process is described. Alternative treatments of the tailings from the neutral sulphuric acid leach were briefly investigated.

Jan 1, 1977

In several of the States of Australia, mining on private property has been seriously hampered by the fact that large areas of land have been alienated from the Crown before the discovery of gold or other minerals. In Western Australia this difficultyhas only occurred to a small extent, and has largely been overcome by an act entituled "An Act to Permit Mining on Private Property, No. XXIX., 'October, 28th, 1898." Under this act, the holder of a miner's right can apply for a gold mining lease on private land; such applicant may treat privately with the owner of such land as to the amount of compensation to be paid for surface ,damage, or the case may be brought before the Warden who will assess the damages. Private land used as a garden, orchard, or vineyard is exempt from lease, unless the applicant has authority from the owner, or such lease is limited to a greater depth than 100 feet from the lowest part of the surface.No lease shall be granted of any mines under any private land in any municipality unless either the applicant has authority from the owner, or such lease is limited to a greater depth than two hundred feet from the lowest part of the surface.The same regulation applies to leases of private land on which any hospital, asylum, or public building is situated or under or within one hundred and fifty yards laterally of any...

Jan 1, 1901

Adsorption of Alkylammoniums in the Interlayer of Montmorillonite and its Effect on the Viscosity of Organo-Montmorillonite Gels

Sep 13, 2010

Removal of Dilute Toxic Anions in Wastewater Using Aluminum Hydroxides Co-Precipitation Method

Sep 13, 2010

The epithermal Au-Ag deposits of the Hauraki Goldfield have formed in the convergent plate margin setting of the Coromandel Volcanic Zone (CVZ). The deposits form as siliceous lodes in the upper parts of geothermal systems associated with andesitic and rhyolitic volcanism. Two types of low sulphidation epithermal mineralisation are recognised in these volcanic terranes. Vein deposits within the rhyolitic terrane in the east and south of the CVZ (Whitianga Province) are typified by Chalcedonic Silica-Adularia-Illite type mineralisation. The veins are hosted by both rhyolite-dacite volcanic rocks and the underlying andesitic basement. The mineralisation formed by episodic violent decompressional boiling of deeply circulating meteoric water, with some magmatic fluid contribution; this boiling was associated with hydraulic fracturing and hydrothermal eruptions in geothermal systems where the piezometric surface of the deep geothermal reservoir lay near-surface. Such episodic boiling provides chalcedonic veining, banding and brecciation textures, adularia stability, bladed calcite, and extreme loss of H2S gas from the fluid to cause major gold deposition.   Crystalline Quartz-Illite-(Adularia-Kaolinite) type mineralisation is widespread in the andesitic terrane forming the northern and western portions of the CVZ (Kuaotunu Province). There is a spatial association with weak mineralisation of the high sulphidation (Vuggy Silica-Alunite-Kaolinite-Illite) epithermal type and porphyry eu-Au type. Crystalline Quartz mineralisation is probably formed by the mixing of shallow acidic groundwaters with the ascending deep geothermal fluid in geothermal systems beneath andesitic stratovolcanoes. The piezometric surface to the deep geothermal reservoir in these systems is likely to lie at considerable depth, with acidic gases rising from the geothermal reservoir condensing within the overlying vadose zone. The cooling effect, oxidation and pH decrease accompanying mixing apparently overcomes the dilution effect, and results in quartz deposition, illite (and locally kaolinite) alteration, and precipitation of gold. A high level of base-metal sulphide precipitation also enhances gold deposition. Violent boiling of the mixing fluids may occur at local structural dilation sites, producing high grade "bonanza" gold mineralisation.

Jan 1, 1991

This paper describes new research and development currently being undertaken by the CSIRO Mining Technology Group to advance the automation capability of continuous mining equipment in underground coal mining operations. The effort aims at increasing the overall rate of roadway development as well as providing a safer working environment for underground mine personnel. The activity is funded by the Australian Coal Association Research Program (ACARP) and forms part of a larger underground development initiative, known as the CM2010 project. The CM2010 is managed via a consortium of leading mining industry representatives through the Roadway Development Task Group (RDTG). The Task Group has identified three research areas requiring new development in order to realise the CM2010 project objectives: self-guiding (autonomous) continuous miner capability, an enhanced drilling and bolting process and improved mesh deployment. CSIRO's primary role in the CM2010 project is in the development of the autonomous continuous miner guidance capability.This paper reports on outcomes achieved at the half-way mark of a three year research and development project. It details the technical developments undertaken towards demonstration of a 'self-steering' capability to enable a continuous miner to automatically maintain a given mining heading and mining horizon under production conditions. A primary technical requirement of this automated functionality is the means to accurately determine both the location and orientation of the continuous miner in real-time. Testing and validation of the guidance system solution has been implemented using a combination of an instrumentation-grade inertial navigation unit and radar technology. Comprehensive performance evaluations have been conducted using a scale skid-steer mobility platform known as the Phoenix. Results achieved to the present stage of the project are highly promising and suggest that an automated self-steering functionality is achievable under production conditions. This new outcome represents an important move towards implementing a step change improvement for future underground roadway development.

Dec 6, 2010

By R Dwyer, S Rea, W J. Bruckard, N McSweeney, R Holmes

"The innate ability of microorganisms to adapt to changing or inhospitable environments has often been exploited for industrial purposes and forms the basis of many current biotechnological processes. The ability of bacteria to adapt and adhere to specific mineral surfaces ensures that the energetic or nutritional requirements of the cell are met and often serves as a survival mechanism under unfavourable?growth conditions or conditions of stress. In this process, cells may rearrange or modify the macromolecules expressed on the cell surface itself or produce extracellular molecules, modifying mineral surfaces to render them more suitable for growth. The modifications that these molecules produce on mineral surfaces may result in changes to the surface charge and hydrophobicity of a mineral. As a result, these biomolecules may have some potential application as flotation collectors or modifiers.In this work, the effect of long-term exposure of Paenibacillus taiwanensis to goethite and common gangue minerals associated with Australian iron ores on the differential expression of membrane and extracellular proteins was determined. Both groups of proteins play a role in cell adherence to mineral particles. Cells were adapted to grow in the presence of each mineral over time. The proteins expressed on the cell membrane and the extracellular proteins excreted by the cell were isolated and analysed by two-dimensional polyacrylamide gel electrophoresis (2D gel PAGE). The outcomes of these studies are presented here and potential application of these products for flotation discussed.CITATION:Dwyer, R, Rea, S, McSweeney, N, Bruckard, W J and Holmes, R, 2013. Microbes and their metabolites - potential iron ore flotation reagents, in Proceedings Iron Ore 2013, pp 369-372 (The Australasian Institute of Mining and Metallurgy: Melbourne)."

Aug 12, 2013

In responding to why some longwall roadway development rates are different among mines, the Roadway Development Task Group (RDTG) of Australian Coal Association Research Program (ACARP) has initiated a benchmarking study to survey each longwall mine to determine the correlation between roadway development practices and roadway development performances. This paper describes a web-based relational database system which has been developed purposely to monitor the performance of Australian longwall roadway developments aimed at assessing both the physical and operational factors which could influence roadway development practices and their performance indicators. Statistical analysis of an earlier survey suggested that continuous miner units that achieved more than 1750 m were units mining two-heading development.

Dec 6, 2010

By Lamont G

The significance of blasthole stemming in determining blasting efficiency has been extensively studied for small diameter holes using gelignite explosives. Recent developments in blasting technology with the use of large diameter holes and low cost blasting agents have not included studies of the effectiveness of different types of stemming materials. A review of previous measurement techniques and the relevance of these earlier results to present stemming practice is presented in this paper. A survey of operating mines in Australia provided information for this analysis. The value of stemming in reducing blast noise and improving blasting efficiency is generally accepted but the use of bulk-loaded explosives in underground operations has resulted in the practice of eliminating the use of stemming material.In surface operations drill cuttings are used for stemming on the basis of availability rather than efficiency in providing resistance to movement. The development of laboratory testing techniques, based on noise level and borehole pressure measurements, to evaluate the relative efficiency of different types of stemming materials is described. The results of an extensive series of tests with ANFO explosive showed similar trends tothose obtained from earlier published results with gelignite type explosives. Conclusive quantitative results on the relative effectiveness of different stemming materials will require minor modifications to the existingequipment. Observations and the results of pressure measurements indicated the presence of shock wave effects which caused the ejection of the top section of the stemming column when using coarsely fragmented material.

Jan 1, 1979

By J J. J Chen, J C. Zhao

A water/air model was developed to simulate the refining of molten aluminium by the sparging of gas through an impeller. The optimal gas dispersion depends upon selecting the correct gas rate for a given impeller rotational velocity to prevent flooding or channelling. Correlations illustrating this flooding behaviour exist for standard impellers within standard tank geometries. However the validity of these correlations has not been substantiated for gas dispersion in high temperature molten metals with non-standard tank and impeller dimensions. Metal refining is most efficient when fine bubbles are generated and uniformly distributed within the treatment tank. The application of some measuring technique able to detect this distribution within a non transparent operating treatment tank would be invaluable, enabling the optimisation of gas flow and impeller speed.   A technique has been developed to measure the pressure fluctuation levels at specific points in the water model. Comparison of these pressure fluctuation data with photographic evidence obtained in the water model suggests that the flow regime in the metal treatment unit may be determined using this technique.

Jan 1, 1995

Three methods of gold analysis are briefly described highlighting some of the problems and advantages of each. The variation of results between samples and splits and due to method of preparation is illustrated. The mean per cent difference of the fire assay values from the means of sample split values for three cases is 15 per cent.Finally, a comparison of the aqua regia leach atomic absorption spectroscopy (AAS) and fire assay fusion AAS techniques is made.This shows that the mean precision, the ability to obtain the same value, of the methods at 98 per cent confidence is ± 30 per cent and ± 15 per cent respectively. The fire assay fusion AAS method is relatively more accurate than the aqua regia one.

Jan 1, 1984

Computer applications are ideally suited to the day to day operations of grade control and short term planning on a mine site. By refining this part of the operation there is scope to increase profits by more accurately predicting ore grade and tonnage, and allowing the mining engineer more flexibility in his approach to scheduling. Large numbers of blasthole or ditchwitch samples need to be processed in a fast and efficient manner, and stored in a database for future reference. The mining engineer has to calculate tonnages and subdivide the blast or digging area into mineable areas of waste, low and high grade ore. New grade and tonnage information must be used by the mining engineer to update his short term plan. Answers must be obtained quickly and efficiently, but a high level of individual input is necessary in order that maximum use is made of the information. Geostatistical analysis of samples can be used to refine the interpolation techniques. Reconciliation between the original grade model, the newly sampled area, and the final product should be monitored continually.

Jan 1, 1989

Hydrometallurgy has a history of over 300 years with copper leachingand cementation having been exploited in Spain as far back as 1670.Since then, hydrometallurgy has become an integral, expanding branch of extractive metallurgy. This paper reviews major developments in hydrometallurgy over thepast century with emphasis on recent commercial developments and their impact on the mining and metals industries. The environment in which these developments has taken place has changed significantly in the past two decades and many factors, often non-technical, have emerged as constraints on the operation of existing plants and the expansion and development of new hydrometallurgical operations. Finally, a number of possible new developments that will shape thefuture of hydrometallurgy in the new millennium are discussed,particularly as they relate to the assimilation of technical advances in other areas of science and engineering. The impact of current trends in the education of hydrometallurgists and the provision of research in support of these future developments is also addressed.

Jan 1, 2001

By Wesley, Worner H

During the meeting of the Institute last year at Port Pirie, the opportunity was taken to sample the lead bullion coming from the blast furnace and various stages during the refining process. Also, in the desilverising section, the upper zinc rich phase was sampled as the silver content built up and in the cupellation operation a series of samples was taken as the silver content of the bullion increased. In these two cases, the samples were taken under the supervision of a member of the staff of the Broken Hill AssociatedSmelters.In the following account of the microstructure of the samples taken, only the main phases present have received attention. In this connection deduction from phase diagrams of binary alloys has been used in conjunction with the assays carried out on duplicate samples taken at the same time as those for micro examination.

Jan 1, 1938

By T King

This paper reviews the changes in the coal industry over the past 30 years and attempts to predict the trends over the next ten years. The last 30 years have seen a steady concentration of production into fewer, larger mines, which operate on 3: more continuous basis, and a major increase in productivity per employee. Coal exports have increased from zero to almost half the country's total production. As well as major changes in exploration and mining equipment and the increasing use of computer tools, the industry now operates in a relatively new regulatory and commercial environment.   Safety legislation now requires the writing and enforcement of policies and procedures by the mining companies, rather than adherence to inflexible regulations enforced by an Inspector. Accident rates have decreased dramatically. The transition from coal mining licences to permits, requiring landowner consent and resource consents, is well under way. Environmental controls are now an essential aspect of the industry.   Equipment suppliers now offer maintenance services, production guarantees and flexible financing.  Contract miners offer mine design and restoration as part of the contract. In a similar approach, Solid Energy now offer an ash disposal service and assistance with resource consents to their customers as well as investment in technology to ensure a consistent product to demanding specifications. Solid Energy has proposals for energy centres which install and operate the coal burning appliances and simply sell energy to the customers. The next 10 years should see an intensification of these trends of bigger mines, more exports and greater technology and a 'package' approach to customer service.

Jan 1, 1997