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The valuation of resources companies is open to a huge amount of subjectivity. Not only are valuations subject to fast changing assumptions, such as commodity prices, exchange rates, ore grades, etc., but there is also no common agreement on the methodology to be used. To borrow from Malcolm Fraser, life wasn't meant to be easy for the resource company valuer. I will demonstrate three recent examples of valuations carried out but where the market or actual transactions done show very different results.

Jan 1, 1989

By J Brown, C Roberts

The scope of this paper is to recount the development of segmental linings used in tunnel construction, starting with its inception as an improvement to the brick-lined tunnel approach of Brunel in England and moving through the history and development to the present day, before finishing with a few insights into what the future might hold. The paper also discusses the motivation for the relatively recent move towards replacing conventional steel reinforcing cages with steel fibres and the reasons why steel fibre reinforced concrete (SFRC) is rapidly becoming the material of choice for manufacturing precast concrete segmental linings.

Jan 1, 2008

Reservoir Engineering has developed into an art. One phase of this art is forecasting the futi. perf ormance of oil and gas reservoirs for property valuations. A discussion of the necessity for oil property valuation isgiven. A brief 'discussion of the four most common methods is included and the engineering method is explained in more detail. As an example of oil property valuations, a producing oil lease in Shackelford County, Texas, USA is evaluated.' The recommendations and conclusions arrived at frun the results obtained are presented.

Jan 1, 1962

By Montagnon P, Dagois G

The use of activated carbon for gold recovery has been known for years, but came industrially on stream since the years seventies.Despite several years of experience, the criteria for selecting a carbon have not been clearly determined so far.This paper will try to highlight the user through his experience, on the most important factors which should affect his decision.We will develop:- Physical characteristics - Adsorption characteristicsand try to show that slight variations on these characteristics may have important consequences on the plant design and profitability.

Jan 1, 1984

The electrochemical dissolution of gold and other noble metals in hydrochloric acid using alternating current has been investigated. The experimental results show that this technique is efficient for dissolving pure noble metals and offers prospects for their extraction from wastes and poor ores.

Jan 1, 1992

By Lumley G. I, Hayes H

Non-intrusive methods for the reliable determination of dragline bucket and rigging performance have been achieved using physical modelling. Modelling offers a logical first step towards developing mathematical simulation models. The process of physical modelling has been applied successfully to predict dragline bucket performance and capacity as well as to demonstrate the effect of varying dump rope length on performance. ACIRL's Surface Miming Group has used physical modelling to carry out dragline bucket sizing for a new high productivity bucket and compared performance with Throng Coal's existing dragline bucket. The predicted bucket performance has since been confirmed in the field using dragline monitoring techniques.

Jan 1, 1992

By Wright S, Jorgensen F. R A

The reaction between lead sulphate and a number of base metal sulphides (galena, sphal- erite, chalcopyrite and synthetic pyrrhotite was studied as a means of desulphurizing lead sulphate containing fumes and residues to levels acceptable as ISF feed. The reactants were mixed with 50% zinc oxide to act as a "basket" to contain the molten products of the reaction and pressed into small briquettes 20 mm in diam. Factors such as temperature, time and the composition of the atmosphere were investigated. Using the PbS/PbS04 system as an example it was shown that the reaction became rapid above 800¦C and that both sulphur dioxide and oxygen in the atmosphere were detrimental to achieving low sulphur in the product. In an inert atmosphere all the sulphides when roasted for 1 h at 1000¦C gave results corresponding to the elimination of more than 95% of the sulphur in the reactants. Leach plant residues were considered for use as the "basket" material. It was shown that the residual sulphide and sulphate components of the residues underwent similar reactions to those experienced by the pure systems.

Jan 1, 1987

By Giannini LM, Carras S

A fundamental problem in mine planning is that of determining the "optimum pit limit" of a mine. This optimum pit limit yields information which is considered essential in the evaluation of the economic potential of a mineral deposit, and in the formulation of long -, intermediate -, and short-range mine plans. Since the mid 1960's a number of mathematical techniques based on the "block model" have been proposed for solving this problem. When applied to large ore-bodies the implementation of these techniques, especially the more elaborate ones, poses considerable computational problems. In this paper we report on our work, done jointly with Systems Research Institute of Australia (SRIA), in devising strategies for overcoming these Problems.

Jan 1, 1986

By Binns RA, Murao S

The PACMANUS and Jade deposits are two active hydrothermal fields that are forming massive sulfide deposits at the Pacific rim margin. Both are associated with felsic submarine volcanic rocks and both occur in back-arc settings. However, PACMANUS is associated with almost sediment-free dacites and lies on the crest of a volcanic ridge, whereas Jade occurs in a heavily-sedimented tectonic depression associated with a basement of pumiceous rhyolite. The PACMANUS deposit is richer in Cu and Au, and Jade in Pb. Zinc, Ag, As and Sb contents are similar. Sulfide textures at PACMANUS suggest formation of Cu and Zn sulfides by simultaneous double-diffusion involving inwards-moving seawater mixing with outwards-moving hydrothermal fluid. By contrast, at Jade there is a more complex history of formation where initial growth of barite on the sediment surface, probably associated with microbial activity, formed an impervious cap which trapped higher temperature hydrothermal solutions.

Jan 1, 1995

By N G. Corner

A sea bed sampling programme by CRA Exploration Pty Limited over an area of 12 000 km offshore from Westland, Southland and Otago, New Zealand, led to the discovery of the Harvester Prospect, an area of some 67 km2 which averaged 189 mg/m3 gold in surface samples. This area was in water depths of 70 to 106 m and contained a high grade core of 33 km2 which averaged 283 mg/m3 gold. The gold recovered was fine grained, averaging 124 microns, and indicated a potential resource of approximately 10 t of gold per metre of thickness. Interpretation of existing seismic and geological data suggested that the gold anomaly may be associated with a unit of sediments 10 - 40 m thick, probably deposited during a lower sea level stand. Two initial attempts at vibrocoring the anomaly produced inconclusive results. In 1989 a much more powerful vibrocorer with scaled up support facilities and a dedicated 24 h turnaround laboratory were employed. The final results clearly showed that the gold was from an uneconomic surface enrichment.

Jan 1, 1990

At 9.45 pm on Thursday, 12 July 1962 glass began to flow in an endless stream from a massive melting tank in a new Whangarei factory and a vital new industry was born û right on schedule. It wasn't good glass. It was ridged. It cracked. It rippled. It obstinately refused to emerge upstairs in the cutting room in one solid continuous sheet. But all through the night, drawing speeds were adjusted, temperatures changed. And on Friday morning, at 8:30, it finally came through as sheet û not perfect as yet, but sheet glass all the same. The rest is only a matter of time. Unfortunately, the buoyant enthusiasm displayed by the founders of the sheet glass industry in New Zealand, and the technical expertise of their European consultants, failed to bring the glass quality up to commercially acceptable standards and within six months, the company was in receivership. Taking over the role of producing New Zealand's sheet glass requirements, New Zealand Window Glass Company was formed as a partnership between two companies with long experience in sheet glass manufacture û Pilkington Brothers (NZ) Limited and Australian Consolidated Industries Limited. This paper sets out to identify the raw material requirements and controls necessary for the successful manufacture of sheet glass, and the availability and supply of suitable materials for use at Whangarei.

Jan 1, 1978

The original leases making up today's North Kalgurli Mines were developed by independent companies on an ad hoc basis. The major disadvantage which now arises is the varying levels of mining horizons. From Kalgurli Shaft in the south, through main Shaft and to Croesus Shaft in the north, there are three separate sets of levels. work has commenced to link the three areas with either common levels or new development which will facilitate common access and haulage via Main Shaft.Generally, the workings at North Kalgurli were established at the turn of the century. The introduction of techniques and equipment to bring the mine into the 20th Century has been difficult and slow. The general size of openings, a widespread workforce and complex ore distribution often make innovation and change more than a challenge.

Jan 1, 1985

The geology and mineral deposits of the West Pilbara Goldfield are described and comparison is made with the Pilbara Goldfield,, In the West Pilbai'a Goldfield two adjacent environments are represented by a predominantly clastic succession and a predominantly volcanic succession. These two successions are lateral equivalents and lithologically they are similar to the classical successions at Warrdiwdbna and Mosquito Creek. How- ever, no evidence of a significant erosional break has been found. It is suggested that the Archaean rocks of: the Pilbara Block represent a single geosynclinal cycle, which culminated in orogenesis, within which-local disconformities have been developed in various places: and that the sub-Mosquito; Creek unconformity at Eastern Creek may be the most widespread of these disconformities, Widespread evidence of'preconsolidation movement, aid the intrusion of igneous rock into. unconsolidated sediment, suggest that tectonism and igneous activity began at a very early stage, This was localised along lines of fracture in an unidentified basement.,.Moveme.nt was primarily vertical and persisted into the older Proterozoic, The sediments were enriched in metal by vulcanicity, chemical sedimentation, and possibly detrit`1' contribution. Diagenesis and metamorphism caused the remobòliyation of the metallic constituents of igneous and sedimentary, rocks which were then localised-in loci of dislocation-formed both before and after consolidation.,.. . . , . .

Jan 1, 1964

By Brathwaite RL

The gold-scheelite-quartz lodes of the Wakamarina valley were the most productive of the mesothermal gold-bear in the Marlborough Schist. Most of the production came from the Empire City and Golden Bar mines which worked tug, Golden Bar lode. Only 134 m of its 1800 m strike length are accessible, in the No. 2 level of the Golden Bar Mine. A fau I has downthrown the Golden Bar Mine section by 2 47 m and displaced it left-laterally by 18 m. The lode is a typical ribbon-banded mesothermal vein, averaging c. 1.75 m wide, and enclosing narrow horses of schist country rock. It i composed of bands of milky "buck" quartz with thin laminae of schist. Scheelite occurs in short strings of grains withi quartz on the footwall side of the lode and also in small quartz-carbonate veinlets in the foot wall and hanging wall schist The lode quartz contains only localised traces of pyrite and arsenopyrite. They are more abundant in the wall-rock schist.

Jan 1, 1995

By D R Van Eck

Western Deep Levels, a seismically active deep level told mine. stalled placing backfill in their narrow tabular workings as part of the regional support strategy in 1986. Over the years the percentage of working places being backfilled has been gradually increasing. At the end of 1995 the support efficiency and the labour productiveness relating to support installation were scrutinised to determine if resources were being optimised. Owing to financial, safety and productivity constraints it was decided to redesign stope support to be less labour intensive, safer and provide an integrated stope support system. This new integrated system will thus combine the previously used temporary, permanent and back area support consisting of mechanical props, hydraulic props and backfill respectively. Backfill previously formed an integral part of the regional support in conjunction with strike stabilising pillars. To design the integrated support system the backfill placement quality has to be exceptionally good and placement must be done as close as possible to the working face. The backfill to face distance was reduced by 30 per cent and in some areas by more than 50 per cent with an increase of square metres filled to increase the effect of the backfill even more. This paper addresses the design and successful implementation of an integrated stope support system based on the optimisation of backfill to he extent where installation of mechanical and hydraulic jacks could he Eliminated

Jan 1, 1998

By Taylor GP

Mining Lease SML 57 was registered to Mount Kasi on 5 January, 1995. The Mount Kasi gold mine is located in Vanua Levu, Fiji's second largest island and operated from 1932 to 1946 producing 261,000t of ore at an average grade of 7.5g/t Au. The deposit represents a structurally controlled style of high sulphidation copper gold mineralisation with peripheral low sulphidation mesothermal vein type gold mineralisation. The resource consists of 1,048,000 tonnes of residual soils (eluvium) containing 1.9 g/t Au at 0.5 g/t Au cut off and 1,240,000 tonnes of hard rock at 3.0 g/t Au and 1.0 g/t Au cut. 94 drill holes, 298 auger holes and 85 pits were modelled to outline the resource. 29% of the pits bottomed in mineralisation and it is likely the full thickness of eluvium has been understated. The pit is scheduled to produce 500,000 tonnes of ore per annum to yield 35,000 ounces of gold with an initial 2 years of eluvial ore followed by a further 2 years of hard rock ore. Total capital costs are estimated to be less than 10.0 million dollars with construction planned to commence in 1995. The likelihood of locating further ore is high.

Jan 1, 1995

By N Meyer

This paper presents a research project referring to the stability of submerged walls of open pit mines and the actual state of development. Obviously the slope stability analysis is always a rather complex problem, because it is difficult to reduce the problem to a design scheme and to define the available in situ soil strength. Especially the design of submerged slopes represents a problem. The state-of-the-art slope stability analysis is based on a simplified modelling of slope failure and soil behaviour and with this predicted stable slope inclinations of sand slopes below water-table are less then half the angle of internal friction. Slope angles calculated like that canÆt satisfy the mining companies. One of the problems that have to be solved is the reliable determination of the long-term stability of non-cohesive, submerged slopes, which is not only dependant on geotechnical and hydrogeological parameters of the subsoil, but is also significantly influenced by how the slopes are made. The research project points at the relations between mining and geotechnical engineering with the main aim to find a more suitable stability analysis which takes both soil behaviour and mining influences into account.

Jan 1, 2003

It is often assumed that geotechnical investigations or studies for open pit mines are confined to providing a slope design. However in an operating mine, the design is only one component of a mine geotechnical program. Reviews of slope designs are ongoing throughout the mine life. The concept of Pit Slope Management has been formulated because the design only entails one component of a total program that contributes to a safe, efficient mining operation. Risk is a normal part of mining. Effective management allows the risk to be contained or controlled. If the slopes are not effectively managed there will be increased risk for the operation. Experience has shown that utilisation of Pit Slope Management coupled with a broad base of experience to define the key controls on stability, provides a pro-active, objective approach. The reasoning is deductive and relies on the behaviour of the ærocksÆ. Once the key aspects are defined, studies are well focused, implemented as required and the risks can be effectively managed. When the key controls on stability are poorly understood reasoning is typically more ægut feelÆ. Under such circumstances studies, if carried out, may meet short-term objectives but often ignore the long-term objectives. Hence the risk to the project is greatly increased. This paper presents several case studies highlighting the above aspects and present elements of the Pit Slope Management Program approach which have been successfully utilised by the author to manage risk in mining projects.

Jan 1, 2003

By P Jago

KCGMÆs Fimiston Open Pit, located in the centre of the historic Golden Mile, is situated above some 3000 kilometres of old underground workings. These workings, both level and vertical, present significant safety and operational problems in the pit. One of these challenges is in safely drilling void areas so that they can be charged and blasted effectively. Current drilling practices in these areas require machines that can only drill 115 mm holes on a smaller pattern than the standard blast pattern. This results in more time and cost to both drill and charge these areas. Any other method currently available to drill out these areas involves putting operators in a potentially hazardous situation by being too close to the void area being drilled. Not effectively drilling and blasting these areas leads to hazardous situations further in the mining cycle including oversize, large toe and uncollapsed voids. Ineffective blasting also causes reductions in mining productivity and mine to mill performance. In response to these issues, KCGM has commissioned the implementation of a fully remote controlled DM45 blast hole drill rig to drill out selected void areas. The remote system, installed in conjunction with Ausdrill Ltd and GM Mining Electrics, is designed to operate similarly to a tele-remote bogging system with the operator controlling the drill rig from a separate control cabin via radio signals and video feed. This allows KCGM to drill in areas of higher risk without exposing the operators to voids. The drill rig will also be able to drill standard patterns through some specially selected void areas, reducing costs and extra time associated with drilling and charging void affected areas. The remote rig is expected to provide a number of benefits, both in the drilling process and in further downstream operations. Costs of drilling in void areas are expected to decrease with standard patterns instead of smaller patterns being drilled. Safety and operator comfort are also expected to increase through removing the operator from the pit floor. Blasting is also expected to see significant improvements through increased ease of charging void areas (because of larger holes and standard patterns), more consistent patterns resulting in less secondary blasting and toe and an overall improvement in the speed and cost of charge-up practices. This more consistent blasting will also improve shovel productivity, crusher performance and overall mine-to-mill efficiency. This paper presents an overview of the development of the remote controlled system, including modifications that have occurred since commissioning. It explains some of the problems encountered and how these have been solved. Key issues for operational success will be identified and explained with a view to making future implementations easier. Factors used to assess the performance of the remote controlled rig will also be explained in further detail and used in a preliminary assessment of the rigÆs feasibility.

Jan 1, 2003

An extensive railway construction prog- ram in the People's Republic of China has required the excavation of many tunnels in difficult ground, particularly in mountainous regions. Conclusions drawn from case histories permit guidelines to be formulated as to the optimum location of tunnel alignments in faulted and folded terrains, and also in karst regions. Geological factors adversely affecting durability of tunnel linings can be minimised by adoption of appropriate construc- tion practices.

Jan 1, 1987