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The Joint' Venture Method is a procedure for assessing the value of exploration properties, particularly those for which resources have yet to be delineated. It aims to convert the terms of an actual or synthetic joint venture into the equivalence of an arms- lengths cash transaction between a willing seller and a willing buyer. This paper sets out one approach to achieving that conversion. It discusses both simple and complex cases and gives some examples from both public and private documents. It also includes some case studies in which the Joint Venture Method of valuation can be compared with values derived for the same project using other methodologies including actual cash deals. The Method has failings in both mathematics and logic. However because it does reflect or simulate an arms-length deal which takes into account past exploration effort and expenditure and an assessment of prospectivity at a particular point in time, it is felt that it can provide a reasonable approximation of trade value or asset value of a prospect, particularly if used in conjunction with other methods.

Jan 1, 1994

By R Miller

The enrichment of magnetite to haematite and haematite-goethite leads to a coincident magnetic low and gravity high within the banded iron formation. Palaeochannel deposits of pisolitic limonite can be expected to provide a relative magnetic high and gravity low in a sinuous geometry. Detrital iron deposits of conglomerate, scree or ‘canga’ might have indistinct magnetic response but will usually have a relative gravity high.These signatures provide clear discriminators detectable by a joint gravity and magnetic survey.The combination of airborne gravity gradiometry and magnetometry is particularly powerful in detecting and discriminating targets, as well as mapping lithologies and structure, across a wide variety of iron ore deposit styles. It provides detection capabilities in a platform capable of rapid, complete coverage with minimal access issues. This approach has been used in FALCON™ airborne surveys for iron ore exploration in the Great Lakes, USA; the Middleback Ranges, South Australia; and the Hamersley Basin, Western Australia.The complex magnetic properties of iron formations (particularly remanence, anisotropy and depth of weathering) prevent this approach from being simple. The use of vector residual magnetic intensity (VRMI), calculated from the measured total magnetic intensity (TMI), assists by reducing the complexity due to the different directions of the remanent and induced magnetic fields.Estimations of the density to magnetisation ratio via the pseudo-lithology calculated from the VRMI and gravity gradients provide a useful method of capturing the discriminatory power of joint magnetic and gravity gradient data.

Jul 11, 2011

By C Linklater, J Chapman, A Watson

Closure options under consideration at some sites include backfilling mined-out pits with waste rock. Backfill may include mineralised and non-mineralised waste rock. Following groundwater rebound, flow-through conditions may develop in the pit post-closure. The backfill located in the saturated zone below the water table may release solutes under such conditions. It is therefore important to understand the potential impacts that backfilled pits could have on postclosure groundwater quality.Geochemical characterisation programs are the foundation for assessing the potential chemistry of water that has contacted mined wastes. Such programs must be designed to obtain data relevant to the closure options under consideration. To complement standard testing techniques, SRK utilises saturated column testing designed to generate data on leaching rates under anoxic conditions that could be encountered within submerged backfill.This paper presents the findings of saturated column test work carried out on waste rock samples from an iron ore mine in the Pilbara.CITATION:Watson, A, Linklater, C and Chapman, J, 2016. Backfilled pits – laboratory-scale tests for assessing impacts on groundwater quality, in Proceedings Life-of-Mine 2016 Conference , pp 110–114 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Jun 28, 2016

By Sparrow G. J

In a recently completed AMIRA project, 20 samples were searched for gold mineralisation using the automated location facility (ALF) for rare phases on a scanning electron microscope in the CSIRO Division of Mineral Products, Melbourne. The samples were submitted by mining companies in Australia, and Papua New Guinea, and included crushed ore samples, cyclone overflow and underflow products, a flotation concentrate, and 12 tailing samples. Their gold contents ranged from 600 to 0.2 g/t An. Native gold and gold minerals including a gold telluride, gold-silver tellurides, and a gold bismuth mineral, were located in the samples as free grains and associated with other minerals such as pyrite, magnetite, hematite, ankerite, copper sulphides, silicate minerals, and quartz. In the highest grade samples, both micron sized and 200 ¦m grains of gold were found with ALF. It would be difficult to locate such d wide size range of gold in a manual search. Gold mineralisation was located in the tailing samples assaying 0.4 g/t An and higher. In several tailing samples coarse grains of native gold over 40 p.m in size were located. One grain was estimated to have contributed 40 per cent of the gold in the sample. As well as locating gold mineralisation, the ALF examination resulted in the identification of uranium, mercury, and bismuth minerals in the samples. Knowledge of the distribution of these minerals in processing streams could be important in the operation of a concentrator.

Jan 1, 1992

By M Liang, C Putzmann, D Gokaydin

The mining industry faces numerous challenges in swiftly evaluating and exploiting new mineral deposits to meet the escalating demand for critical minerals and metals. These challenges necessitate the adoption of innovative techniques and technologies to expedite development cycles and facilitate the efficient exchange of knowledge and expertise. Traditional mineral exploration methods rely heavily on data governance, visualisation tools, and expert interpretation skills, often operating in isolation and limiting the integration of valuable data and knowledge (Lindsay and Perrouty, 2019). To address these integration challenges and bridge the industry’s knowledge gap, the concept of a digital twin offers a holistic solution (Ahn, 2021; Nagovitsyn and Stepacheva, 2021).

Sep 1, 2024

By B J. Hutchison, S Gannon, J Chambers, D Oko-oboh

The Kanmantoo copper mine is located in the Adelaide Hills area of South Australia and is owned and operated by Hillgrove Resources (HGO). The mine is a drill and blast, truck and shovel operation mining sulfide (chalcopyrite) ore located in chloritised andalusite biotite schist. The initial Kanmantoo open pit operation occurred in the 1970s, before falling copper prices closed the mine. In 2010 the mine was reopened by HGO and the Kavanagh cutback of the Kanmantoo pit was undertaken. The Spitfire, Nugent and Emily Star satellite pits were also mined through to 2015 before the latest steep wall Giant pit design was developed to take mining out to 2019.There are no major fault structures and only two significant shear zone structures exposed in the open pit walls. The main Garnet Andalusite Biotite Schist (GABS) unit is quite competent so the pit designs have therefore mainly been controlled by four distinct joint sets. This paper is a case study on the influence of the joint regime on the wall stability of the main GABS unit and how a better understanding of the joint regime and the use of rock reinforcement has allowed the steep wall design to be adopted.The paper also describes the remote geotechnical mapping and slope monitoring techniques used to manage the rockfall risks associated with the steep walled slope design.CITATION:Hutchison, B J, Chambers, J, Gannon, S and Oko-oboh, D, 2017. Case study of joint structure and the design and performance of open pit walls at the Kanmantoo copper mine, in Proceedings Tenth International Mining Geology Conference 2017, pp 355–364 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Sep 20, 2017

Environmental management of minesites in general, and management of water discharges in particular, is receiving ever-increasing attention. One key component in the successful design and operation of water management systems is to address the presence of sediment in the water being conveyed. Sediment erosion in the mining environment is often greatly exacerbated by disturbing the ground surface of vast areas of catchment. If sediment avoidance, transport, deposition or release are not adequately addressed, the impact on water management facilities can include loss of storage and hydraulic capacity, more frequent equipment replacement, increased operational costs and potentially environmentally unacceptable sediment discharges to receiving waters. An overview of sediment management within water facilities is presented here, and design of one particular approach, the use of settling basins for sediment removal, is discussed in detail. Examples are used to illustrate lessons learnt where particular approaches to sediment management have been found to be lacking. The common themes in the lessons learnt include the need to characterise hydrodynamic conditions and sediment properties in the water source, to set performance targets for sediment management, and to develop operating procedures to meet these targets under a realistic range of scenarios. The examples show how analysis of expected performance of sediment management can help with planning of operation and maintenance strategies. For settling basins, use of a simulation model that includes the effects of turbulence on settling can provide considerable benefits in optimising basin design and evaluating performance. Even in the most basic approach to sediment settling, establishing performance targets based on design flow and sediment characteristics is critical.

Jan 1, 2003

By C Li, S Wang, L Qiao

Jinchuan nickel mine is the largest nickel mine in China. Cut-and-fill mining method with high density cementing materials is used in the mine. The original mining design divided the mining operation into two steps. The first step stopped the mining rooms and the second step stopped the pillars. Because the two-step method made big trouble for finally mining pillars and strongly limited the mining speed and production, it was successfully changed to a continuous cut-and-fill method without pillars. However, the mining operation in the mine has been down to 800 m and the mining condition is getting worse and more complicated. Through systemetical field investigations and 3D FEM analysis, it is proved that the mining method without pillars is feasible for mining deeper orebodies in Jinchuan nickel mine.

Jan 1, 2000

By R R. J McAllister, K Moffat, S Heyenga

This paper examines the statistical relationship between quality of life indicators and the gross value of mineral production from Australian regions. We used quality of life indicators, aggregated for 673 local government areas, of household income, housing affordability, access to communication services, educational attainment, life expectancy and unemployment. We find no evidence of systematic negative associations between quality of life and the gross value of minerals production. Instead, mining activity has a positive impact on incomes, housing affordability and communication access across regional and remote Australia. Whilst we do not establish causality between mining activity and quality of life, our analysis prompts a rethink of the æresource curseÆ as it applies within a single country. Nevertheless, our findings are tempered by extensive anecdotal and empirical evidence of the negative social impacts of mining on specific demographic sectors, localities, families of fly-in, fly-out mining operations and individuals. This contrast may be a scale issue, with the regional benefits of mineral wealth masking highly-localised inequalities and disadvantage. We suggest that there is a need to better understand these impacts and, more importantly, the types of policy mechanisms government and industry can adopt to mitigate or avoid them.

Jan 1, 2009

Computers are playing an increasing role in the management of technical data in mines. Companies are re-assessing the role of their data processing departments as users demand computer resources in non-accounting areas. Data of all kinds is now being seen as a, company resource, and the role of computing professionals is to help to manage the data flow, not merely to manage computers. The concept of distributed data bases puts the responsibility for data entry, editing and updating with the user. This challenges conservative views of centralized control of computing, suggesting, instead, centralized co-ordination. A survey of the possible applications of computers in technical areas points up the special requirements of handling raw, processed and consolidated technical data. Technical data bases have become flexible as mini- computer hardware and software have rapidly developed. Management has the ultimate responsibility for efficiently administering corporate data bases, and it must ensure suitable policies are developed for this purpose, with enough flexibility to cope with the impact of fast changing technology.

Jan 1, 1980

By J P. Sykes, C Gemell, A Trench

The perceived and actual impact of government mineral policy upon the government share from gold mining revenues is assessed for ten key countries in which the gold sector is of relevance in advancing economic growth. Five African and five South American jurisdictions are considered, namely Burkina Faso, Ghana, Mali, South Africa and Tanzania from Africa; and Brazil, Chile, Colombia, Guyana and Peru in South America.Both the headline corporate income tax rate and royalty level are identified as poor indicators for the total government share. In addition, significant differences between industry perception and actual government tax levels are identified by this study. The quantitative financial analysis shows that there is no clear relationship between individual taxation rates, taken in isolation, and the overall average effective tax rate (AETR) paid by the project over its life. Neither companies nor governments should use individual taxation rates, or industry perceptions, in isolation to assess the overall competitiveness or equity of a country’s minerals taxation regime – such analysis can be very misleading.In this study, the perceived impact is determined from the well-established Fraser Institute survey published each year, and in 2014 compared 122 minerals jurisdictions globally. The actual impact is determined from quantitative modelling of the financial performance of a hypothetical gold mining project in each country. The technical parameters of the project are held constant; instead the differing mineral policies in each jurisdiction are applied to determine the resultant impact upon the relative share of the economic rents delivered to both private and public sectors. In the quantitative analysis, the total government share varies from 36.3 per cent in South Africa to 66.5 per cent in Ghana.CITATION:Gemell, C, Sykes, J P and Trench, A, 2016. Is perception reality? Evaluating the fiscal attractiveness of international jurisdictions for gold mining investment, in Proceedings International Mine Management Conference, pp 227-238 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Jun 22, 2016

For many crushed aggregate producers will the finest fraction minus 4 mm represent a problem. The fine material will fetch a much lower price than the coarser products, and may even be difficult to sell in some markets. The blasting operation will strongly influence the generation of fines after both blasting and crushing. Drill hole deviation together with the drill hole diameter, powder factor and velocity of detonation are the most important blasting parameters with regard to the generation of fines. Drill hole deviation is often ignored, and many operators will just reduce the drilling pattern in order to avoid hard bottom and an excessive number of boulders. The paper presents a technical and economic analysis of how drill hole deviation will lead to an increased generation of fines in crushed aggregate production. The analysis shows that the loss of sales revenues will be much higher than the extra costs for drilling and blasting caused by compensating for drill hole deviation by putting in more holes.

Jan 1, 1999

Kalgoorlie Consolidated Gold Mines Pty Ltd is currently developing the 'Super Pit' gold mine in the mining area known as the Golden Mile adjacent to the city of KalgoorlieBoulder, Western Australia. The presence of numerous abandoned mine workings and complex structural geology has required considerable geotechnical input into the determination of the optimum pit slope geometries for both interim and ultimate pit slopes. Slope design is based on detailed site investigation and stability analysis which is balanced with historical operational experience. This paper discusses the process of determining the optimum pit slope angles for each of the stages of the west wall of the 'Super Pit'. The risks associated with slope instability are discussed for each stage.

Jan 1, 1994

By J Hadjigeorgiou, T R. Stacey

A ground support system is a combination of individual reinforcement and surface support elements that work together to retain and contain the rock mass. The various elements are subjected to external loads and to interactive loading between individual ground support system components. This paper focuses on the challenges in determining the capacity and behaviour of mesh, recognizing that installed mesh can be subjected to several loading mechanisms. Field observations from underground hard rock mines demonstrate that there are multiple types of damage and modes of failure of mesh. However, these are difficult to reproduce in a laboratory environment. A critical review has shown that existing mesh laboratory testing rigs reproduce very limited loading conditions that may not be representative of underground conditions. This has significant implications in quantifying and extrapolating the performance of mesh to ground conditions. CITATION:Hadjigeorgiou, J and Stacey, T R, 2018. Challenges in determining the capacity of mesh, in Proceedings The Fourth Australasian Ground Control in Mining Conference (AusRock), pp 280–290 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Nov 30, 2018

By B P. Voutharoj, R A. Dutch, M Paknezhad, T Ostersen

With the proliferation of new sensor technologies, acquiring multiple data sets over the same ground is becoming cheaper and easier than ever. This new, higher resolution multivariate data provides a significant resource for exploration and resource geologists but comes with the added complexity of effectively integrating the various data sets in useful and meaningful ways to elucidate new geological understanding. Both geophysical data sets and hyperspectral data are extensively used for exploration targeting, providing different information at different resolutions and crustal scales. One of the biggest challenges comes from trying to effectively integrate data sets that record very different physical properties, across the different scales these data are captured at, in a way which can allow for a data-driven analysis of these combined data sets.

Sep 1, 2024

By J C. Small

Time-dependent deformation occurs when geo-materials are under an applied load; this may lead to additional deflection of a tunnel structure and the stress redistribution in the surrounding rock, shotcrete lining and rock bolt support system over time. A better understanding of this creep behaviour can improve the reliability of design, construction and maintenance of tunnels. Hence, the present investigation was carried out on the time-dependent properties of rock, shotcrete and the combined tunnel support system. Tunnels constructed in different ground conditions were modelled. The closure changes of the tunnel with time and the redistribution of stress in the surrounding rock, shotcrete lining and rock bolts due to the creep deformation were analysed. Results of the present analysis were compared with the results from the commercial program ABAQUS.

Jan 1, 2008

By L D. Redden, M G. Nelson

Mechanical flotation machine design is typically based on hydrodynamic analysis, with scale-up calculated by geometric proportionality. End users often specify and purchase machines on the basis of retention time, characterised by the æ$/m3Æ approach; they may also consider the manufacturerÆs installed base. In some applications, end users also consider specific energy and the impact of energy consumption on operational costs. In other cases, a decision may be based on machine type (forced-air versus self-aspirating) and perceived metallurgical or operational advantages of one machine type over the other. With regard to metallurgical performance efficient bubble-particle contact is very important and is primarily influenced by two factors:the concentration and size distribution of bubbles in the machineÆs contact zone (the volume enclosed by the disperser); and the number of times that slurry is pumped through the contact zone. The second factor is a function of the machineÆs pumping rate and its retention time. Field data show that pumping efficiency is independent of aeration rate. In this paper, a new dimensionless number for the characterisation of flotation efficiency is presented. The contact frequency number (CFN) is defined as the number of times a given volume of slurry passes through a machineÆs active contact region, and is given by: CFN Qp/Qf, where:Qpis the pumping rate through the contact regionQfis the volumetric feed rate to the machine

Jan 1, 2005

By M D. Goodz

MacPhersons Reward gold deposit is in a post-kinematic tonalite intrusion which is a setting different from many other deposits of the Coolgardie goldfield that are hosted in early Archaean tholeiitic sills or meta-sedimentary rocks. Gold mineralisation at MacPhersons Reward consists of auriferous quartz veins that are best developed in the tonalite but extend to the adjacent komatiitic rocks and along the lithological contact zones. The gold-related alteration halo is dominated by biotite-chlorite and pyrrhotite. Unlike many other Coolgardie deposits, the As concentrations are low.

Aug 22, 2011

By G Corder

The aim of the circular economy is to accelerate the transition from a conventional linear take-make-dispose economic model to a circular model. It is restorative and regenerative by design and aims to keep products, components and materials at their highest utility and value at all times. This extended abstract presents a brief overview of the circular economy, provides application of the circular economy in other industrial sectors including the downstream metals value chain and proposes how circular economy thinking could progress the development of complex orebodies.CITATION: Corder, G, 2018. Can the concept of the circular economy help unlock complex orebodies?, in Proceedings Complex Orebodies Conference 2018, pp 8–10 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Nov 21, 2018

By R McCarthy, P Hawke

FerrAus Ltd's Robertson Range and Davidson Creek Projects are located in the Hamersley Province about 100 km east of Newman, Western Australia. Significant iron mineralisation defined by an aggressive exploration program within the Marra Mamba Iron Formation is shallowly north dipping at Davidson Creek, and mainly shallowly east dipping at Robertson Range, forming part of a regional scale anticline with the granitic and greenstone basement of the Sylvania Inlier as its core. With minor exceptions, the stratigraphy is comparable with that seen in the main Hamersley Basin. Granite and greenstone basement rocks of the Sylvania Inlier are unconformably overlain by shales and volcanic rocks of the Fortescue Group. The overlying Hamersley Group is locally represented by interbedded chert, banded iron-formation (BIF) and shales of the Marra Mamba Iron Formation (Nammuldi, MacLeod and Mount Newman Members), and dolomites, cherts, BIF and shales of the Wittenoom Formation. Iron enrichment occurs predominantly in the Mount Newman Member, and to a lesser extent in the West Angela Member of the Wittenoom Formation. Enrichment varies from 20 - 30 m in thickness in elongate bodies up to 3 km in strike length, and generally thins down dip. At Davidson Creek iron mineralisation is a haematite-goethite-ochreous goethite assemblage, while at Robertson Range this assemblage is consistently overprinted by a later, goethitic alteration related to 'hardcap' weathering. Near surface hardcap alteration in both project areas comprises more siliceous, aluminous and vitreous goethite. Initial exploration completed by Rio Tinto Exploration between 1999 and 2001 indicated the potential for about 20 Mt of iron mineralisation at Robertson Range. Since 2005 a detailed exploration program undertaken by Australian Manganese Pty Ltd (a wholly owned subsidiary of FerrAus Ltd) has defined a global indicated and inferred resource totaling 164.4 Mt at 58.6 per cent Fe (ASX: FRS 17 April 2009).

Jan 1, 2009