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By J. C. Taylor

The Rhodax inertial cone grinder, designed by France?s FCB Group Fives, is the result of three years, theoretical and mechanical research in the field of compression grinding by the research staff of FCB?s CRM minerals research centre. A number of potential uses have been assessed and will be discussed in the paper. The crusher is an inertial grinder that works on the pressurized bed fragmentation principle. The fragmentation force is caused by the rotation of unbalanced masses rather than by an eccentric mass, as is the case in a conventional crusher. This makes it possible to achieve very high reduction ratios. By controlling the speed of rotation of the unbalanced masses, the grinding force can be modified, thus changing the product size distribution. The paper describes the machine layout, operating principles, control parameters and will briefly describe the results obtained on reef, waste and ROM reject pebbles. Some comparisons are made with conventional crushing.

Jan 1, 1998

By M. J. Papo, A. Muwila

Hercules? is a low nickel austenitic stainless steel developed at Mintek that has a typical composition of 9 wt% Mn, 0.05 wt% C, 2 wt% Ni, 0.25 wt% N and 16.5 wt% Cr. A more corrosion resistant version of Hercules? (Hercules? B) with 0.5 wt% Mo has also been developed. Potentiodynamic tests performed on Hercules? B in a 5 wt% sulphuric acid solution showed it to have improved corrosion resistance comparable to that of AISI 304. The effect of a varying Mn content on the corrosion resistance of Hercules? B has also been investigated and the results discussed in this paper. From the corrosion test results, it is clear that decreasing the Mn content of Hercules? B increased the corrosion rate while increasing it decreased the corrosion rate. KEYWORDS Austenitic stainless steel, %ferrite, molybdenum, manganese, nitrogen, electrochemical corrosion tests, potentiodynamic scans, microstructure, chemical analysis.

Jan 1, 2006

By R. Cao

Geostatistics was initially developed in the mining sector, but has been extended to other geoscience applications, including forestry, environmental science, soil science, and petroleum science and engineering. This paper presents methods, workflows, and pitfalls in using geostatistics for hydrocarbon resource modelling and evaluation. Examples are presented of indicator variogram analysis of categorical variables, lithofacies modelling by sequential indicator simulation and hierarchical workflow, porosity modelling by kriging and stochastic simulation, collocated cokriging for integrating seismic data, and collocated cosimulation for modelling porosity and permeability relationships. These methods together form a systematic approach that can be effectively used for modelling natural resources.

Jan 1, 2014

By A. Golshani, M. Oda, K. Suzuki, T. Takemura

Anisotropic behaviours of OhshimaOshima granite were investigated by carrying out uniaxial compression tests, together with observations of microcracks under an optical microscope. The elastic modulus tensor of Oshima granite at 10 per cent strength,E10, were calculated using theoretically formulation of elastic modulus tensor in terms of the second-rank crack tensor for pre-existing open microcracks. Furthermore, with the assumption of orthorhombic elasticity, the nine moduli of Oshima granite E10were determined by uniaxial compression test. Twenty-onemoduli of samples, calculated without assuming any symmetry, also showed orthorhombic features. Direction of the symmetry axes agreed well with the orientation of preexisting cracks. Comparison of crack tensor-based formulation results with the experimentally determined one show that the anisotropy of elasticity of Oshima granite is caused by pre-existing open microcracks, not by pre-existing healed microcracks and also crack tensor formulation can be used, as a first-order approximation at least, to describe the anisotropy of Oshima granite induced by pre-existing open microcracks. ZUSAMMENFASSUNG: Das anisotrope Verhalten des Oshima-Granits wurde mit Hilfe voneinachsigen Kompressionstests und durch die Betrachtung von Mikrorissen unter einem optischenLichtmikroskop untersucht. Das Elastizitätsmodul von Oshima-Granit bei 10 Prozent Kraft E10wurde berechnet, indem man die Formulierung des Elastizitätsmodultensors, ausgedrückt alsRisstensor zweiter Ordnung theoretisch auf bereits existierende Mikrorisse angewandt hat.Außerdem wurden die neun Module des Oshima-Granits unter der Annahme orthorhombischerElastizität E10mit einem einachsigen Kompressionstest bestimmt. Einundzwanzig Stichproben,die ohne die Annahme irgendeiner Symmetrie genommen wurden, zeigten ebenfallsorthorhombische Merkmale. Die Richtung der Symmetrieachsen stimmte mit der Orientierungbereits vorhandener Risse überein. Der Vergleich der Ergebnisse der auf dem Risstensorbasierenden Formulierung mit der experimentell bestimmten Formulierung zeigt, dass dieAnisotropie der Elastizität von Oshima-Granit von bereits vorhandenen offenen Mikrorissenverursacht wird, und nicht von vorhandenen vernarbten Mikrorissen, und dass dieRisstensorformulierung auch zumindest für eine Annäherung erster Ordnung benutzt werdenkann, um die durch vorhandene offene Mikrorisse induzierte Anisotropie des Oshima-Granits zubeschreiben. RESUME: Les comportements anisotropes du granit d’Oshima ont été étudiés en réalisant destests de compression simple, et en observant les microfissures au microscope optique. Le tenseurdu module d’élasticité du granit d’Oshima sous une résistance de 10 pourcents, E10, a été calculéen se servant de la formule théorique du tenseur de module d’élasticité basé sur le tenseur defissures de second ordre des microfissures ouvertes préexistantes. En outre, sur base del’hypothèse de l’élasticité orthorhombique, les neuf modules du granit d’Oshima ont étédéterminés par des tests de compression simple. Vingt et un modules d’échantillons, calculés endehors de toute hypothèse de symétrie, ont aussi montré des caractéristiques orthorhombiques. Ladirection des axes de symétrie correspondait bien à l’orientation des fissures préexistantes. Lacomparaison des résultats de la formule basée sur le tenseur de fissures avec les résultatsdéterminés expérimentalement montrent que l’anisotropie de l’élasticité du granit d’Oshimaprovient des microfissures ouvertes préexistantes, et non de microfissures préexistantes referméeset que la formule du tenseur de fissures peut servir, au moins comme première approximation, àdécrire l’anisotropie du granit d’Oshima marqué par des microfissures ouvertes préexistantes.

Jan 1, 2003

By R. J. Pine, J. M. Rance, J. S. Coggan

ABSTRACT: The safe design of excavations created in a fractured rock mass is of paramount importance in rock engineering. Depending on the nature of the stress regime acting on an excavation, and the associated deformational behaviour of the rock mass surrounding the excavation, a number of potential failure mechanisms exist. These involve a combination of shear failure on existing joints, extension of critically oriented joints and propagation of new fractures through previously intact rock. Conventional numerical codes usually adopt either a continuum or discontinuum approach; this often results in significant over simplification and kinematic limitations particularly when modelling complex rock mass behaviour in the close vicinity of excavations. This paper describes the results from several case examples using a combined finite element-discrete element code, ELFEN that incorporates a crack propagation mode. Through the use of selected rock engineering examples, the authors demonstrate the potential of the code in the realistic simulation of complex rock failure both in underground and surface excavation applications. RÉSUMÉ: La conception sûre des excavations créées dans une masse de roche fracturée est d'importance primordiale dans la géotechnique. Selon la nature du régime d'effort autour d’une excavation, et le déformation associé de la masse de roche autour de l'excavation, il exsite un certain nombre de mécanismes potentiels d'échec. Ceux-ci comportent une combinaison d'échec de cisaillement sur les joints existants, la prolongation des joints d’orientation critique et la propagation de nouvelles ruptures dans la roche précédemment intacte. Les codes numériques conventionnels adoptent habituellement l’approche, soit d’un continuum, soit de discontinuum; ceci a souvent comme conséquence une sursimplification significative et les limitations cinématiques en particulier en modelant le comportement complexe de la masse de roche très proche des excavations. Cet article décrit les résultats de plusieurs exemples de cas en utilisant un code qui s’agit d’une combination d’élément discret et d'élément fini, ELFEN qui incorpore un mode de propagation de fissure. Par l'utilisation des exemples choisis géotechniques, les auteurs démontrent le potentiel du code dans la simulation réaliste de l'échec complexe de roche pour les applications aux excavations soit au fond soit à l’extérieure. ZUSAMMENFASSUNG: Das sichere Design der Aushöhlungen, die in einer zerbrochenen Felsenmasse verursacht werden, ist vom paramount Wert in der Felsentechnik. Abhängig von der Natur des Druckregimes, das auf einer Aushöhlung und dem dazugehörigen deformationalen Verhalten der Felsenmasse umgibt die Aushöhlung fungiert, bestehen eine Anzahl von möglichen Ausfalleinheiten. Diese beziehen eine Kombination des Scherausfalls auf vorhandenen Verbindungen, Verlängerung der kritisch orientierten Verbindungen und Ausbreitung der neuen Brüche durch vorher intakten Felsen. Herkömmliche numerische Codes nehmen normalerweise entweder ein kontinuum oder discontinuum Annäherung an; dieses ergibt häufig bedeutende Übervereinfachung und kinematische Beschränkungen, besonders wenn es kompliziertes Felsenmasseverhalten in der Nähe der Aushöhlungen modelliert. Dieses Papier beschreibt die Resultate von einigen Fallbeispielen mit einem kombinierten begrenzten Element - getrennten Elementcode, ELFEN, das einen Sprungausbreitungmodus enthält. Durch den Gebrauch von vorgewählten Felsentechnikbeispielen, demonstrieren die Autoren das Potential des Codes in der realistischen Simulation des komplizierten Felsenausfalls bei Anwendungen für beide Tagebaue und Untergrundsaushöhlungen.

Jan 1, 2003

By T. A. Muhlare

The use of electrolyte additives to smoothen cathode deposits during copper deposition is practised worldwide. These additives absorb on the cathode surface and take part in the electrochemical crystallization process. However, these additives also affect the quality of the cathodes when they are inadequately controlled. Electrolyte additives used by Palabora are glue, thiourea, Avitone and chloride. Their effects were determined on cathode quality, the size of the current density region that gives the desired compact morphology, and current efficiency. This was done in a small-scale cell. Small cells have different hydrodynamics from industrial-scale cells, which makes it difficult to simulate the operation of industrial cells in a laboratory. The approach used here was to use a rotating cylinder cathode to attain controlled hydrodynamics. The rotation speed was chosen to give a diffusion layer thickness that is similar to that of an industrial-scale cell. It was shown that even fairly small changes in the additive levels can significantly affect the cathode morphology, and the current density range over which this morphology can be obtained. Keywords Copper, electrorefining, glue, thiourea, avitone and chloride.

Jan 1, 2011

By A. Krause

Shovel-truck systems for loading and hauling material in open pit mines are now routinely analysed using simulation models or off-the-shelf simulation software packages, which can be very expensive for once-off or occasional use. The simulation models invariably produce different estimations of fleet sizes due to their differing estimations of cycle time. No single model or package can accurately estimate the required fleet size because the fleet operating parameters are characteristically random and dynamic. In order to improve confidence in sizing the fleet for a mining project, at least two estimation models should be used. This paper demonstrates that the Machine Repair Model can be modified and used as a model for estimating truck fleet size in an open pit shovel-truck system. The modified Machine Repair Model is first applied to a virtual open pit mine case study. The results compare favourably to output from other estimation models using the same input parameters for the virtual mine. The modified Machine Repair Model is further applied to an existing open pit coal operation, the Kwagga Section of Optimum Colliery as a case study. Again the results confirm those obtained from the virtual mine case study. It is concluded that the Machine Repair Model can be an affordable model compared to off-the-shelf generic software because it is easily modelled in Microsoft Excel, a software platform that most mines already use. This paper reports part of the work of a MSc research study submitted to the University of Witwatersrand, Johannesburg, South Africa. Keywords: simulation, bunching, probability distributions, cycle time, queuing, matching, shovel-truck, OEM.

Jan 1, 2007

By J. N. Van der Merwe, M. Mathey

"The South African squat coal pillar strength formula, developed by researchers from the Chamber of Mines Research Organization in the 1980s, predicts an exponential increase in coal pillar strength once a critical width-to-height ratio of 5 is exceeded. The arguments that have been proposed in favour of this formula are discussed critically in this paper.Field experience with squat pillars in the USA and evidence from published physical, analytical, and numerical model pillar studies corroborate the fact that a squat effect is unlikely to occur in coal pillars at width-to-height ratios less than 10. Furthermore, an exponential increase in peak strength of coal pillars does not exist. An alternative design criterion for squat pillars in South Africa is therefore suggested. IntroductionFive decades of coal pillar research in South Africa have produced a wealth of information on the mechanisms contributing to the strength and failure of in-situ coal pillars and accompanying phenomena. The relevant knowledge was sourced from, and for, a South African coal mining environment that remained largely unchanged in the second half of the 20th century. The depth of mining seldom exceeded 250 m, with mined seam thicknesses averaging 3 m and typical pillar width-to-height ratios (w/h) of 3–4.It is therefore not surprising that comparatively little research has been directed at the prediction of coal pillar performance in deeper deposits, where squat pillars of larger width-to-height ratios will be required to support the overlying strata. However, a thorough understanding of squat pillar performance will be necessary should the remaining deep coal deposits of the country be extracted in future, for instance in the Waterberg or Ermelo coalfields.A squat coal pillar strength formula has already been proposed in South Africa. The origin of this formula will be discussed in some detail in the following sections and its appropriateness will be critically reviewed against a great amount of evidence from relevant squat coal pillar research conducted internationally."

Jan 1, 2016

By J. J. Stacey

Large mining companies generally follow the distributed ownership corporate model, with a board of directors responsible for decisions that affect both shareholder value and stakeholders of the company. The board is simultaneously responsible for setting the culture and values of the corporation, which drive performance and priorities. Companies listed on the Johannesburg Securities Exchange (JSE) commit to sustainable development in various ways, either by virtue of implementing the King Code of Governance 2009 (King III) and/or through their own public reporting on social and environmental matters. Many mining companies make public statements regarding their support for environmental stewardship, ethical behaviour, and fair treatment of communities. It is a local, regional, and indeed, global phenomenon that companies fail to deliver on these statements. Research was carried out through the Institute of Directors of Southern Africa in 2007, and followed up in 2012, regarding directors? understanding of sustainable development issues, the relative priorities, what is needed for ?radical change? to effect sustainable development, and what enables or constrains the latter. Pertinent findings of both surveys are presented in this paper, and it is suggested that ?on-the-ground? performance may be indicative of the nature of leadership and decisions in the topmost ranks of the company. The results indicated that environmental concerns fall consistently below social issues. Financial capital ranked most important, and while environmental issues are recognized as being of strategic concern for the long-term, they ranked as being the lowest importance of all ?Five Capitals? (Financial, Manufactured, Social, Human, and Natural). Social capital ranked second lowest, with black economic empowerment being the only high-priority social issue. There is also evidence that certain companies within the mining sector fail to recognize their absolute dependence on natural resources. Much is made in academic and popular literature of the need for a new type of leadership for the radical shift to sustainable development: at company level this implies therefore a new type of director. The research found that only 14 per cent of directors felt that board decisions are consistent with their personal values; while intentions are strong to behave ethically and serve sustainable development, actions to give effect to these intentions lag significantly. Respondents indicated that the top impediments to courageous leadership for sustainable development related to personal issues of maintaining the image of being a director, fear of appearing weak, fear of being a lone voice, and bowing to board-colleague peer pressure.

Jan 1, 2014

By N. F. Mescheriakov

New mechanical and pneumatic-mechanical flotation machines with axial impellers have been developed. Industrial tests show that these machines ensure lower power expenditure (on flotation) by 1.5-2.0 times as compared with reference machines (with the same or improved technological indices). Application of the newly developed axial impeller, with these advantages, is possible in any volume chambers of type OK, Dorr-Oliver, Wemko etc.

Jan 1, 1998

By R. Dippenaar

The emergence of new steel grades is largely driven by the need to produce high quality steel at a competitive price. The principal aims are to attain ultra-high purity, (especially low interstitial elements) and ultra-cleanliness (by the control of the inclusion content and size). Whereas the steel used to build the Titanic contained 650 ppm sulphur, resulting in MnS stringer-inclusions 25 mm in length, modern quality requirements for arctic pipelines would only allow 10 ppm of sulphur and inclusions in ball-bearing steels must be smaller than 5µm. Most developments are aimed at hot-metal treatment before refining and ladle treatment after decarburisation. Because ferroalloys are added during or after the refining step, it is the secondary (ladle) refining production technologies that are of specific interest to the ferroalloy producer. Through ladle treatment, hydrogen and nitrogen contents are reduced, ultra-low levels of solute impurities are attained and the shapes as well as the composition of inclusions are modified. Steelmakers are concerned about the cost effectiveness of the use of ferroalloys such as consistent product analysis and delivery, improved financing arrangements and technical support. Minimal variation in product sizing is vital because it impacts on handling problems and because particle size determines the rate of particle dissolution. The required ferroalloy product quality depends on the specific use but in general sulphur, phosphorous and nitrogen contents are of concern. Apart from the presence of trace and impurity elements, ferroalloys also contain inclusions. For example, ferromanganese may contain MnO-MnS-SiO2 inclusions while high-carbon ferro-chrome may contain different kinds of Cr-Mn-spinels. The presence of these impurities and inclusions has a significant impact on steel production techniques and cost and hence, on the selection and use of ferroalloys. The interrelationship between ferroalloy quality and steel production technology is plant and product specific and hence, effective communication between ferroalloy suppliers and steel producers is essential.

Jan 1, 2004

By M. C. Bhulose

Paper written on project work carried out in partial fulfilment of B. Eng (Mining Engineering) degree The purpose of this project was to identify constraints that could occur in the current sub-decline shaft at Turffontein Shaft should an increase in production take place. Particular attention was to be paid to the transportation of men and materials and to the broken rock and ventilation capacity of the shaft. This project is an in-depth evaluation of the logistic capacity of the sub-decline system at Turffontein Shaft in order to determine by how much production can be increased in this area to replace tonnages from the vertical shaft area, where ore reserves are rapidly becoming depleted.

Jan 1, 2004

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Jan 1, 2009

The paper deals with the results of dynamic tests carried out on a range of surface support liners consisting of combinations of mesh (various types), shotcrete, and wire rope lacing. The testing was carried out over the period 1993 to 1998. The dynamic testing method made use of drop weight impact loading of test samples which attempted to simulate realistic in situ conditions, and the range of loading imposed was equivalent to small to severe rockburst conditions. The results of the testing provide quantitative data, in the form of input energy, which is relevant for support design and for the choice of support types appropriate for situations in which significant mine-induced seismicity occurs or is expected to occur. In addition to the wire mesh and shotcrete liner systems tested, estimates of energy capacity are made for other, untested, systems.

Jan 1, 2001

Paper written on project work carried out in partial fulfilment of B. Eng (Metallurgical Engineering) degree Electrowinning is an attractive method to recover gold from the relatively concentrated aurodicyanide solutions produced by the elution of loaded carbon, provided that the plated gold can be easily removed using high pressure water sprays. In practice, difficulty with the removal of the gold is occasionally experienced and has been correlated with the presence of high concentrations of copper in the eluate. In this work, the influence of copper on the electro-plating of gold was further investigated using a laboratory electrowinning cell with a rotating disc cathode, polarization, and adhesion tests. It was found that the reduction of copper will compete with gold electrowinning at high copper tenors and that the adhesion of the precipitated gold is also increased under these conditions. Keywords: reduction, adhesion, morphology, current efficiency, limiting current.

Jan 1, 2004

By Antonio Karzulovic, Sergio Olavarría, Patricio Adriasola

The economical analyses of different Chuquicamata open pit mine planning scenarios, indicate that the pit closure should occur at latest in the year of 2017. However, about 60,000 m of drill holes have demonstrated that below the pit bottom there is a potential of 2.3 billion tons of ore. Hence, Division Codelco Norte developed the scoping engineering for a large underground panel caving operation, similar to El Teniente mine. This project considers the exploitation of a 2500 m 300 m footprint, with three 250 m lifts. The plan considers to initiate the construction in the year 2009, to begin the production in the year 2015 and achieve a production rate of 45 million tons per year in the year 2021. A large-scale transition from open pit to underground mining like this one presents three main challenges: (1) to include the geotechnical aspects relevant for mine design and mine planning, (2) to define the proper surface and underground infrastructure, and (3) to fulfil the project deadlines and to achieve the production targets. This paper summarizes this transition project and discusses these three main challenges.

Jan 1, 2006

By H. Jang, Y. Kawamura

Unplanned dilution and ore loss directly influence not only the productivity of underground stopes, but also the profitability of the entire mining process. Stope dilution is a result of complex interactions between a number of factors, and cannot be predicted prior to mining. In this study, unplanned dilution and ore loss prediction models were established using multiple linear and nonlinear regression analysis (MLRA and MNRA), as well as an artificial neural network (ANN) method based on 1067 datasets with ten causative factors from three underground longhole stoping mines in Western Australia. Models were established for individual mines, as well as a general model that includes all of the mine data-sets. The correlation coefficient (R) was used to evaluate the methods, and the values for MLRA, MNRA, and ANN compared with the general model were 0.419, 0.438, and 0.719, respectively. Considering that the current unplanned dilution and ore loss prediction for the mines investigated yielded an R of 0.088, the ANN model results are noteworthy. The proposed ANN model can be used directly as a practical tool to predict unplanned dilution and ore loss in mines, which will not only enhance productivity, but will also be beneficial for stope planning and design.

Jan 1, 2015

By A. J. Geldenhuys

This paper will focus on two topics, namely (1) an innovative process for the neutralization and partial sulphate removal of acid streams produced during coal mining and processing and (2)optimization of this integrated neutralization process by adding small amounts of synthetic organic polymers. The integrated lime and limestone process has been developed to neutralize acid mine water and to remove sulphate (to less than1 200 mg/l), magnesium and metals. Limestone and lime treatment is the most cost-effective technology for neutralization and partial sulphate removal of acidic/sulphate-rich water to sulphate levels of less than 1 500 mg/l due to precipitation of magnesium and removal of the associated sulphate fraction (through gypsum crystallization). Neutralized mine water of this quality may be suitable for irrigation. The process consists of the following stages: 1. Limestone (CaCO3) neutralization to raise the pH to 7 and CO2-production. 2. Lime (Ca(OH)2) treatment to pH 12 for Mg(OH)2precipi-tation and gypsum (CaSO4.2H2O) crystallization. 3. pH adjustment with CO2recovered from stage 1 and CaCO3 precipitation. Retention times of 1 hour, 4 hours and 1/2an hour were required by stages 1, 2, and 3 respectively. The sulphate level was reduced to 1 094 mg/l, which is less than the original aim of 1 200mg/l. Chemical costs associated with neutralization, using limestone instead of lime, are reduced by 69% in the integrated limestone/lime process. The overflow water from the clarifier of each of the above stages generally contains a wide variety of colloidal impurities that may cause the water to appear turbid or may impart colour. This results in very slow sludge settling rates that cause overflow water with a high degree of turbidity and colour. There are a number of successive or simultaneous stages involved in the agglomeration of particles. To get optimum neutralisation of the acid water and partial sulphate removal to below the saturation level of gypsum (i.e. 1 500mg/l), maximum sludge recovery is needed. The higher the concentration of seed crystals, the larger the surface area. Therefore, effective removal of suspended and colloidal matter from the overflow of each stage is required and can be achieved by coagulation and flocculation. The polymers PAC6 and 3095 were effectively used as coagulant and flocculant respectively. The addition of these polymers resulted in a clear overflow in each of the above stages with a very low turbidity.

Jan 1, 2003

Scenario reduction is designed for selecting a representative subset of geostatistical simulations out of a much larger set. Three steps are involved: measuring the dissimilarity between two simulations; finding a metric to measure the distance between any subset of k simulations and the full set of N simulations; and finding an efficient algorithm for selecting the subset that minimizes the metric. This paper focuses on the third question. We show that genetic algorithms are an efficient way of approaching the minimum when the population of subsets to be sampled is large. Two case studies based on the Walker Lake data-set are presented: firstly choosing k=4 simulations out of a total of 100, and secondly choosing 20 out of the same 100 simulations. In the first case it was possible to compute all possible combinations exhaustively and hence to demonstrate that the algorithm converges to the true minimum. This was not possible in the second case. Instead we demonstrate that it outperforms the random draw algorithm used in earlier work. A procedure for tracking individual selections during the iterative procedure was developed. This allows us to measure the evolution in the percentage of progeny resulting from crossing-over and from mutation that survived in the next generation. It gives valuable insight into how to choose the parameter values in the algorithm. Another key finding is that there is a trade-off between the number of individuals per generation and the number of generations required for the algorithm to converge.

Jan 1, 2014

By A. J. Van Der Merwe, J. F. Erasmus

One of the valuation approaches applied to Advanced Exploration Areas and Pre-Development Projects is the so-called ?in situ Mineralization Method? or the ?Yardstick Method?. This method is based on the concept of a known undeveloped Mineral Resource being worth a certain fraction (the ?Yardstick?) of the contained commodity value (?metal in ground?), using commodity prices ruling at the date of valuation. The Yardstick value is derived usually from an average market-based figure obtained from an analysis of recent transactions and is expressed as a monetary value per ounce or per tonne. It maybe modified to accommodate the quality (e.g. grade) and category (e.g. confidence level) of the Mineral Resource/Reserve involved and the time, effort and expenditure expected to be involved in bringing the project to fruition. Some eighteen recent and relevant transactions were analysed, allowing the following general conclusions to be reached: ? a Yardstick with which to value undeveloped PGE mineral resources is likely to range between 0.5% and 2.5% of the in-ground contained metal value ? the expected method of mining (especially with regard to mining costs) and the grade of the mineralization both have a strong influence on the Yardstick ? the status (classification) of the Mineral Resource has some influence on the Yardstick and ? the ruling price of platinum and the regional location of the deposit appear to have insignificant influences on the Yardstick.

Jan 1, 2006