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By Peck RC

The ore body at Elura contains fine grained galena and sphalerite in a matrix which is mostly pyrite. A differential flotation circuit concentrates lead and silver in the first section and zinc in the second. The lead section, shown in figure 1, was sampled in detail previously and the metallurgical performance assessed on a size by size basis. That assessment took no account of liberation and given the fine grained nature of the ore body, this could lead to an incomplete picture of the flotation performance. Liberation measurements were made using the QEM*SEM system on four size fractions of samples taken from seven different streams in the lead section. Using the mineral flows obtained from the mass balance around the lead section an excellent liberation balance was obtained which enabled the effect of liberation on the flotation performance to be assessed. The measurements indicated that only 17 per cent of the galena and 28 per cent of the sphalerite in the flotation feed was liberated. On the other hand 31 per cent of the gangue iron sulphides were liberated. The final concentrate was largely composed of locked galena and locked iron sulphides with 85 per cent of the product being locked. There was a small but significant fraction of liberated pyrite.

Jan 1, 1991

An image analysis system has been built which automatically digitizes camera input of rock fragments, analyses the digitised data to determine the sizes and shapes of the rock fragments, and outputs the analysed data to a printer in the form of a histogram or a scatter chart. The high speed of such a system allows for direct collection of data from material thrown into the air by blasting, material travelling on a conveyor belt, and material free-falling on to a stock-pile or into or out of a rock-crusher. Data on the blasted, un-crushed material provides information on changes in the lithology and structure of the rock face as it is quarried or mined: flatter fragments may represent approach to a brittle, unstable shear zone, or a change from sandstone to shale; so that the informa- tion reflects the effect on the sizes and shapes of the fragments by the blasting process and/or by the rock structure. The size and shape distributions of rock fragments produced during blasting and during processing may now be continuously monitored. Such detailed analysis of the results of fragmentation is labour-intensive and expensive when the size and shape distributions are obtained manually, but is cheap and efficient when using this image analysis system. Such a system will enable the results of blasting, quarrying, mining and crushing to be cheaply analysed and correlated with current and changing indus- trial practice so leading the way to increased productivity.

Jan 1, 1988

The investment worth of a mineral deposit can only be realistically evaluated in relation to specific engineering design criteria, which fully details the proposed method of exploitation. These criteria have not in general been taken into serious consideration when leaseholders have reported reserves in the past. In fact, many "reserve" figures quoted are probably more correctly classified as geological resources. The industry now recognises that it is necessary to take into consideration not only grade and mill recovery factors, but also likely mining and processing costs as well as the current market price for the commodity. Once having estimated those costs which are applicable to the resource under study, they can be deducted from the gross inherent worth of the orebody to result in an estimate of the potential net revenue. Through a process of interactive trial mine designs and evaluation, reserves can be quantified to provide an estimate of the available recoverable economic reserves given a set of assumed cost and operational parameters. It follows then, that the available economic reserve recoverable from a given resource will vary from time-to-time as cost and price factors vary in response to changing technology and economic factors. A methodology is described which may be used to derive economic recoverable reserves based on a computerised model of the geological resource data and appropriate economic and operational cost algorithms. Examples are provided from both coal and gold studies to illustrate the impact of economic criteria on the magnitude of the reserve figure reported for each project.

Jan 1, 1987

By N Strong

Cracow is a high-grade; low-tonnage underground gold mine located approximately 500 km north-west of Brisbane in Central Queensland. It is a steeply dipping, narrow vein, epithermal gold and silver deposit that is accessed via a decline from surface. Cracow is owned by joint venture between Newcrest Mining (70 per cent) and Sedimentary Holdings (30 per cent). The orebodies are 5 m wide on average and the ore is extracted via sublevel open bench stoping. Stopes are extracted to a strike of approximately 25 m before being backfilled with waste. Prior to the introduction of electronics, the mine would remove a small amount of the previous backfill out to create a void, and then begin blasting two to three rings at a time, with the ore being extracted between each blast. This method caused the ore to be blasted onto the waste backfill resulting in dilution of the high-grade ore. It also meant that the extraction of each stope took a number of weeks and numerous blasting events. In the fourth quarter of 2005, the mine struck a geotechnically sensitive stope, where all 20 rings had to be extracted in a single shot or risk possible geotechnical problems that could sterilise the ore. Due to the limitations of NONEL« delay detonators the mine could not fire all the rings in a single shot and needed to use an electronic detonator system to extract the stope. Some unexpected benefits to the mine were increased fragmentation, reduced vibrations, reduced dilution, improved efficiency and improved hanging wall and footwall conditions. After the success of this first electronic shot, the mine has since moved to firing all their stopes with electronic detonators. With electronics the mine has been able to fire much larger blasts, and has in fact moved to firing their blasts in the opposite direction, firing towards the draw point instead of into the waste backfill, thus reducing ore dilution.

Jan 1, 2008

Minerals similar to the indicator minerals used in kimberlite exploration are widespread in the Cainozoic alkali basalts of north Queensland. Magnesian ilmenite, pyrope garnet, chrome diopside, chrome spinel, phlogopite and zircon were recovered from most of the localities examined. The occurrence of these minerals creates significant problems when indicator minerals are used for diamond exploration. Basaltic ilmenite is visually similar to kimberlitic ilmenite. Untransported grains are rounded and have pitted surfaces. Basaltic ilmenite grains often have exsolution lamellae and reaction rims of titanomagnetite. Although kimberlitic and basaltic ilmenite are chemically similar, basaltic ilmenite grains are usually less magnesian than their kimberlitic counterparts. Basaltic ilmenite contains very little Cr203. Pyrope garnet occurs as megacrysts and in a variety of xenolith lithologies in north Queensland basalts. Most basaltic garnet is Cr-poor and comparable with kimberlitic garnet from Groups 3 and 5 of Dawson and Stephens (1975). Wine-purple, chrome-bearing garnet is common in kimberlite but rare in basalt.

Jan 1, 1984

By R Lovel, P Fung, J Manuel, M OÆCo

The iron blast furnace is the most widely used and efficient producer of liquid iron. The integrated steel works is however under environmental pressure largely due to emissions from sintering and coking. The combustion of coke breeze during sintering contributes to greenhouse gases (eg carbon dioxide) and is the source of much of the emissions of SOx and NOx. Coke breeze, the fines produced during coking of coal, is also suffering supply issues as coke demand increases while coking capacity is constrained by environmental concerns.CSIRO Minerals has been investigating the use of wood biomass/char as a substitute for coke during sintering. Wood biomass, or char produced from it, is an attractive carbon source as carbon dioxide can be sequestered into growing biomass prior to combustion. It has great potential to reduce the emissions from integrated steelworks and improve their environmental acceptability. Harvested biomass/char is also a renewable and sustainable resource. Samples of pine wood flour, sawdust and red gum wood char were characterised and used in small-scale granulation and sintering tests. Red gum char granulated as well as coke and could be used to make acceptable sinter. Large-scale sinter pot test were conducted with char to produce sufficient sinter for ISO quality tests and calculate sintering performance parameters. Results showed that coke could be completely substituted by red gum char during sintering without loss of quality and with actual improvements in sintering performance. Furthermore, gas analyses made during sintering showed that there were significant reductions in SOx and NOx when char was substituted for coke. It is anticipated that the results reported here, although preliminary, will stimulate an increased effort into further research on the use of char in iron ore sintering.

Jan 1, 2004

Don Hausen was a pioneer in the field of quantitative mineralogy. Methodology that he developed at Newmont almost 40 years ago is still employed today, only the technology has advanced. Petrographic methods were stressed with an emphasis on alteration, mineralisation and paragenesis. Methodologies employed by Don on the Carlin deposit were applied to developing the Carlin Trend by helping to work out lithology and structure, which ultimately led to the discovery of deep high-grade deposits. Quantitative methods used by Don on San Manuel, Copper Creek and Superior, Arizona were applied to the development of the Batu Hijau Deposit in Indonesia. Advancements in technology since DonÆs time have made the mineralogist much more efficient. Manual measurement of peak heights off of strip charts for semiquantitative XRD has been replaced by software that does Rietveld refinement and whole pattern fitting. Hand contouring of XRD data has been replaced by digitised data incorporated into geologic models. Optical point counting, which would take a dayÆs work to process 1000 points, has been replaced by automated SEM methods where 20 000 points are possible in an hour. The use of the optical microscope remains relatively unchanged, and still remains as Don emphasised the æeyesÆ of mineral exploration. However, the information can be relayed much more quickly with digital image capture and electronic data transfer. Don insisted on becoming involved in projects at the grassroots level and supporting the project through mine closure. This made the mineralogist a liaison between exploration geologists, mine geologists, metallurgists and mine engineers. The methodology that Don helped develop continues to provide invaluable support to Newmont geologists and metallurgists worldwide today.

Jan 1, 2008

By C van Wyk, I Reeves, J Webber, G B. Gnoinski

The minerals industry has been given an opportunity to grow and continue to advance again in an environment where there is the potential to reap big rewards for efficiency improvements due to buoyant metal prices and the growing demand of markets in Asia. Improving efficiency may also provide a better return compared to risks of expansions and bringing new projects online due to limited human and financial capital.An opportunity for improvement presents itself in the area of mine-mill reconciliation, which entails the quantification of the variance between measurement points along the mining value chain. Reconciliation factors are calculated from the variance between respective sections within the mining sequence. These factors are commonly used as key performance indicators to provide a check on the performance of the operations. Over parts of the mining value chain, there is a fair understanding of the reconciliation between the Resource and Reserve estimates and the measured metallurgical plant inputs and product outputs through understanding of the mine-mill interface. The quality of reconciliation data gathered across the mine and plant is generally not well established due to practices employed in generating the data. The reconciliation variances are often a function of data accuracy and quality used in the comparison. In general, the sources and magnitude of measurement and sampling errors and their impact on reconciliation are not that well understood. Examples of the current practices of mass measurement, sampling, sample preparation, chemical analysis and quality assurance for broken ore and across the metallurgical process stream are considered. Guidelines are given for those reconciliation elements that are identified as requiring a high degree of confidence for Mineral Resource/Reserve and metal accounting reporting. These guidelines are presented and practices are demonstrated to improve mine to mill reconciliation and support increased resource to product efficiency and value.CITATION:Gnoinski, G B, van Wyk, C, Webber, J and Reeves, I, 2012. Guidelines and practical applications for continuous improvement in mine to mill reconciliation, in Proceedings 11th AusIMM Mill OperatorsÆ Conference, pp 309-316 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Oct 29, 2012

By P F. Knights

Mining companies are striving to achieve new levels of operational maturity and drive process improvement across the organisation in the face of unprecedented demand and limited supply of experienced human resources. Advanced analytics techniques can help overcome these fundamental challenges by applying data techniques not previously applied in mining. Today, decisions are usually locally optimised but do not achieve optimum capability for the value chain. Although more information is collected then ever before, it is difficult to link many sources of data together in the same place in real-time, for example plant history, maintenance, mine planning, logistics and engineering data. Consequently complex analysis of data is time consuming and requires specialist skills and knowledge, and is often neglected in the decision-making process. In the future, analytics will close the loop between analysing data and taking action. Analytics will become embedded in the business and routinely applied to improve decision making across the organisation, from senior management to operations and maintenance workers, but will not require specialist skills or be time consuming to analyse data. As analytics becomes embedded in the business process, decisions are supported by data (not on gut feel), and critically, data from many sources are integrated in real-time to improve the quality of decisions. Ultimately, predictive tools will help suggest, or even in some cases automate, courses of action. The main opportunities for analytics exist where the enterprise requires supporting technology to enable it to continue to evolve to higher level of maturity. This will be in the areas of asset management, rapid reconciliation and adaptive planning, and the inbound and outbound supply chains. Advanced analytics are also a key enabler for increasing the effectiveness and realising the true value of Remote Operations Centres to safely and efficiently support operations in remote locations with smaller workforces.

Jan 1, 2008

By Sandenbergh RF

The debate on the mechanism of adsorption of gold and silver di-cyanide onto activated carbon could be divided into two schools of thought. On the one hand, it has been proposed that the combined effects of electrostatic and chemical interaction between the activated carbon surface and adsorbing gold di-cyanide anion results in the adsorption of the latter. On the other hand the `ion-pair' adsorption reaction mechanism has been vigorously advocated as the dominant mechanism responsible for the adsorption of gold di-cyanide onto activated carbon. It is maintained that gold is adsorbed onto the carbon surface as the neutral ion-pair [M"+][Au(CN)z ]". Adsorption is viewed as the result of mainly the chemical interaction while electrostatic interactions are neglected. The validity of the `ion-pair' adsorption mechanism may be challenged on a number of counts. However, the alternative mechanism (based on aqueous surface chemistry principles) has not gained general acceptance yet, because it has not been applied widely enough to explain the different adsorption phenomena associated with gold di-cyanide on activated carbon. In the present study the case in favour of an adsorption mechanism based on general aqueous surface chemistry principles is presented. A model framework is developed for the adsorption reaction mechanism of gold di-cyanide onto activated carbon which incorporates the effects of chemical and electrostatic interactions between the dissolved species, the aqueous solution and the carbon surface. This model is then employed to explain a wide variety of reported adsorption phenomena for gold di-cyanide on activated carbon, such as the effects of pH, the adsorption of different metal cyano complexes, ionic strength, and type and concentration of cations in solution. In addition the effects of cyanide and dissolved oxygen concentration were investigated. No ready explanation, in terms of aqueous surface chemistry principles, is yet available for the switch in adsorption behaviour that agrees with ion exchange to ion-pair adsorption with increasing ionic strength.

Jan 1, 1997

By K S. Smith, B P. Jackson, P J. Lamothe

The upper Arkansas River south of Leadville, Colorado, USA, contains deposits of fluvial tailings from historical mining operations in the Leadville area. These deposits are possible non-point sources of acid and metal contamination to surface- and ground-water systems. We used stable-metal isotopes to help ascertain metal retention and release mechanisms that influence metal transport from the deposits to shallow ground-water systems. To accomplish this, we excavated an intact core from a small fluvial tailings deposit and performed laboratory column experiments to examine the amount of metals leaching through the core. Deionised water was continuously applied to the top of the core, and effluent was collected from the bottom of the core for a period of about two months. Three saturation conditions were used, including unsaturated, partially saturated, and fully saturated. Reducing conditions developed upon partial and complete saturation of the core. During the unsaturated leaching phase, core effluents were acidic (pH 2.8 - 3.5) and contained elevated metal concentrations. During a portion of the unsaturated leaching phase, stable-metal isotope spikes and conservative tracers were simultaneously applied to the top of the core. The isotopes provide a means to delineate metal behaviour within the core. During the unsaturated leaching phase, the isotope spikes did not exhibit breakthrough with simultaneously added conservative tracers. However, some of the stable-metal isotope spikes did break through when reducing conditions occurred in the core (during the partial- and completesaturation conditions). In this paper, we use Cd as an example of the utility of stable-metal isotopes in geochemical studies. In the case of Cd, after the core was partially saturated, the 111Cd spike was released as evidenced by a change in the Cd isotope ratios in the effluent. This release continued during the fully saturated leaching phase, however, the total Cd concentration did not increase. These results suggest that the 111Cd spike was retained inside the core during the unsaturated leaching phase, and only partially released as reducing conditions developed. Results from this core-leaching experiment indicate there is a large reservoir of water-soluble material within the fluvial tailings deposit, which yields elevated metal concentrations and high acidity, and which may degrade adjacent ground- and surface-water quality. Use of stable metal isotopes in this study facilitated the determination of different metal-retention processes, metal-release processes, and metal sources in the fluvial tailings deposit in response to changing geochemical conditions.

Jan 1, 2003

The treatment of nickel ores and concentrates and the subsequent processing to recover separate products of nickel and cobalt is one of the major interests at present in the mining industry. The increasing demand for nickel, and more recently also cobalt, has led to increased exploration for ore sources. Major discoveries have resulted in Canada and Australia. These deposits, as well as others already known, are presently being developed and the process technology tested and evaluated for applicability to the different mineralogical types - mainly sulphide, arsenide and oxide laterites. Concentrates may be treated by either hydro- or pyrometallurgical processes, while the nickel laterites are best suited to hydrometallurgical processing. However, if hydrometallurgy is used, once the ore or concentrate is leached the resultant solutions are then amenable to similar separation technologies for purification and recovery of high purity nickel and cobalt products. Solvent extraction, together with other separation processes such as precipitation, can produce high purity solutions of nickel and cobalt. The final products of these solutions may be nickel and cobalt cathodes, metal powders precipitates or salts, depending on the final process of electrowinning, hydrogen reduction, precipitation, or crystallisation Respectively.

Jan 1, 1996

By M Dorricott

This paper describes the design, construction and performance of sill pillars using cemented development mullock at the Crusader Gold Mine. The orebody is some 35 m - 60 m in length, 5 m - 8 m wide, dipping at 60¦ - 85¦ and plunging at about 40¦ to the north. It is accessed via a footwall decline. The ore occurs at the contact between basalt and ultramafic. This contact is characterised by shearing and alteration; and is prone to unraveling failure. The cut and fill mining method at Crusader extracts 25 m high ore blocks in four flat back lifts and one 8 m thick crown pillar. To enable full recovery of these high-grade crown pillars with minimal dilution, a 5 m thick sill pillar is constructed using cemented rock fill (CRF), after mining of the bottom two lifts in each block. Uncemented development mullock is used as rock fill (RF) for subsequent lifts. Development mullock and cement/water slurry is mixed underground to produce CRF. The fill is transported to the stope in LHDs and dumped on the floor. The sill pillar is advanced progressively, with compaction provided by the loader driving over the previously placed fill. Old jumbo rods are installed as shear pins along the flat dipping hangingwall to reduce the risk of rotational failure of the pillar. A fan of cable bolts is installed into the hangingwall to prevent unraveling failure in the sheared ground. Buffer blasting is used to minimise damage to the CRF sill pillar when the crown pillar below is extracted. At the time of writing, extraction of the crown pillar underneath the CRF has taken place at the 930 stope. The crown pillar was extracted successfully with dilution from the backfill and hangingwall minimised and 98 per cent of the gold recovered. This compares with pillars that were mined beneath uncemented backfill where only 70 per cent of the gold was recovered and where there was significant dilution from the backfill and from hangingwall failures. Where no CRF was placed, there were also numerous production delays caused by large rocks from the hangingwall blocking the stope brow.

Jan 1, 2002

The geographical region of South East Asia is variously defined, but generally agreed to include the Asean group - Philippines, Malaysia, Thailand, Singapore and Indonesia. Other regional countries, such as Vietnam, Laos, Burma, Kampuchea etc. are of course geographically part of the region, however in economic terms, they play a minor role. It is the Asean group that dominates present economic activity and provides the overwhelming opportunity for commercial development. My experience in South East Asia has been gleaned over 15 years of regular travel in the region. More recently, we have established company offices in Malaysia, Singapore and Indonesia to extend and deepen contacts with major customers. This progressive development is an integral part of a planned growth pattern and will be discussed in more detail shortly. South East Asia is a rapidly developing economic growth centre, a fact which is clearly recognised and accepted by most commentators. An important question is then to be asked: Why has the region been relatively neglected by Australian, U.S. and European industrial supply companies? I will attempt to address this question in the context of industrial minerals and propose some ideas as to how effective sales programs could be developed. Firstly, let's consider the market potential provided by countries within the region. It is reasonable to suggest that industrial growth in S.E. Asia over the past 20 years has been generally steady and in some cases, explosive. Until recently, this growth has predominantly been driven by development of internal (regional) demand. Population growth and rising living standards have ensured that basic industries have enjoyed a solid uptrend in sales and production. The industries which most benefitted from regional economic development over this period were, interestingly, those which we understand to be major users of industrial minerals - glass, ceramics, paper, surface coatings, cement, refractories, rubber and plastics. Each of these industrial sectors has been influenced by different growth stimulii over a 20 year period. Nevertheless, they also enjoy a common feature which ensured an above average performance. All sectors are fundamental to an environment enjoying rising living standards and rapid growth in general prosperity. More recently, internal growth factors have been overtaken by a recognition that manufactured products from the region are competitive in export markets. This comparatively recent development provides the most interesting possibilities for higher value industrial mineral raw materials. Let me explain: For 20 years, industrial growth in South Asia has essentially been focused on satisfying domestic demand. Finished quality of manufactured items was orientated to a developing market more interested in cost than aesthetics or long life. This was reflected in raw material specifications, which often did not exist and at the best were undemanding.

Jan 1, 1989

South Africa is a semi arid, water scarce country that has undergone recent major political and social transformation. This transformation has ensured that water management has become a primary environmental concern in the South African mining industry, raising the status of water from an ancillary service to a fundamental factor in mine planning. The coal mining industry has been involved in the development of integrated catchment management plans since the late-1980s when a series of initiatives commenced in catchments where collieries operated. The plans focused attention on water supply and water demand management, the equitable access to water supplies, and intersectoral approaches to decision making, before the promulgation of new legislative and policy frameworks. Development of an integrated watershed management plan for the Olifants River basin, located in the Mpumalanga province, commenced in 1990. The Olifants River is an international river basin of 54 570 square kilometres and shared by South Africa and Mozambique. The upper watershed, locally called the Witbank Dam catchment, will be the focus of this paper. It has an area of 3400 square kilometres and is the major coal mining, power generating, and maize-growing region of the country. The processes embodied in the integrated watershed management plan had no formal guidelines but rather developed in an ongoing fashion over time. The plan commenced with a situation analysis involving the major stakeholders that identified principal technical shortfalls. These shortfalls were investigated under the guidance of multisectoral committees. The Olifants River Forum was started to extend awareness of the initiatives on an informal level throughout the whole watershed. The results of the investigations enabled water quality guidelines to be established for the upper catchment. To achieve the guideline levels additional initiatives were developed including a scheme to manage mine water discharges into the river system, the development of a standard four-step water management process, investigation and development of innovative mine water treatment processes, specifically sulfate reduction technologies, the use of gypsiferous mine water for irrigation, river and dam hydrological models, groundwater models and biomonitoring. Significant outcomes from the process have been achieved including the improvement in water quality in the Witbank Dam catchment. Equally significant have been the development of partnerships between businesses and between businesses and the community specifically in the use of mine water for irrigation. The plan realised a number of requirements for success including, the development of trust, openness and transparency with information, the essential need for consultation and negotiation and the involvement of third parties to validate information. The future still holds the potential for disputes between upstream and downstream water users but understanding, transparency and accountability between all players have, and will in future, enable the matching of the increasing demands on a scarce water resource to the needs of all.

Jan 1, 2003

By Holcombe R. J, Dobos S. K, Little T. R

Blue amphibole-bearing rocks in the North D'aguilar Block of southeast Queensland occur either as relict pods and lenses within regionally extensive greenschist facies phyllites and schists or as blocks entrained in serpentinite-matrix melange. Epidote + crossite-bearing varieties predominate and formed under conditions consistent with underplating and high P:T metamorphism in a subduction-related tectonic environment. Neither lawsonite nor jadeite has been observed and metamorphic conditions are estimated at 380-4500C for pressures of 0.5-0.8 GPa. High P:T metamorphism occurred during the earliest stages of deformation and was superimposed upon protoliths of inferred Late Devonian - Early Carboniferous age, including mafic volcanics, tuffs and coarse volcaniclastic breccias as well as pelagic and henipelagic sediments, all of which have undergone varying degrees of over-printing to the greenschist facies. Greenschist facies metamorphism occurred during the second phase of deformation and was associated with the formation of mainly flat-lying or subhorizontal structures; it followed the cessation of subduction and occurred in response to either thermal relaxation during uplift or the imposition of regional heating induced by crustal thickening and/or synkinanatic granite emplacement. Uplift and cooling of the high P:T rocks was completed by 260-265 Ma and may have occurred in response to the same extensional processes which gave rise to the onset of rifting in the adjacent Esk Trough.

Jan 1, 1990

By J P. Moodie

Recent trends in flotation technology are briefly reviewed. These show that considerable development has been made as the operators, suppliers and technologists have responded to the challenges of the industry. Most of these advances have been based on empirical and phenomenological methods. There is a considerable opportunity to make further advances through a more fundamental, scientific approach. Some of this work is discussed and, although progress is being made on this front, industrial uptake has been somewhat slow. A number of specific issues facing the industry are discussed.

Jan 1, 2005

Before attempting to outline the Australian Stock Exchange's perspective on expert reports, I think it would be appropriate to explain to those of you -who are not familiar with the Stock Exchange listing rules on just when ASX currently requires companies to obtain an expert report and equally important to note, what the regulators have to say.

Jan 1, 1989

After a very brief historical survey and overall assessment of traffic requirements, the invitation by the British and French Governments for private groups to make proposals for a "fixed link" is described, and the resulting plethora of proposals is reviewed. The three schemes which gave some promise of being adequately backed by private finance are described as follows:

Jan 1, 1987

In July 1997 Macraes Mining Company Limited deferred a 9 Mtpa expansion of the Macraes Gold Project because of the uncertainty of the future gold price and its impact on equity markets.  Additionally delays in the resource consenting process led to further uncertainty.   It has subsequently announced that a study has been commissioned to recommend a staged approach to development of its New Zealand business. The best economic development path will be determined to maximise returns to shareholders.

Jan 1, 1997