Search Documents

The ""comparable sales"" method of valuation attributes value to an asset by reference to actual sales of comparable assets or to the market capitalisation of companies with comparable assets. This methodology is widely used in real estate valuations. The real estate approach can be used to value mining and exploration properties where there are actual sales of comparable or similar assets in the recent past. The practical limitations of the comparable sales method are well known and self evident: limited number of transactions, limitations on comparability and inadequate data. The real value of the comparable sales method is in its use as a validity check. Estimates of value of mining and exploration assets are so sensitive to so many variables that all valuation methods have limitations. Accordingly there is real value in attempting to establish benchmarks from comparable sales. Apparently sophisticated valuation methods can mislead by creating the impression that valuation is a precise science. The judgement of the valuer is critical and judgements can be wrong. Any available evidence from actual sales that are even remotely comparable can provide useful input to the valuation process.

Jan 1, 1994

Gallium occurs at above background levels in most samples collected from 11 of the major geothermal areas in the Taupo Volcanic Zone. Concentrations of Ga in the 48 samples ranged from 8 to 144 mg kg-1 and varies widely from place to place within each geothermal area. Gallium is contained within the alumino-silicate structure of clay in the mud, having substituted mainly for Al. Suggested deposition mechanisms for Ga also involve co-precipitation with Sb, As, and SiO2 colloids. Digestion trials, carried out to determine extraction conditions for possible commercial exploitation, showed that heating the mud to 500 - 600¦C for 1 hour followed by acid/alkali treatment gave complete recoveries.

Jan 1, 1995

By Newman D, Wyslouzil DM

Different conventional and non-conventional flowsheet configurations were examined for the treatment of a number of refractory lead-zinc and copper-lead-zinc ores containing carbonaceous pyrite, flotable non sulphide gangue and pre-activated zinc. The flowsheet configuration for the processing of complex massive sulphide ores has a remarkable effect on the overall metallurgical results. Conventional sequential flowsheets, with circulation of intermediate products for both lead-zinc and copper-lead-zinc ores, gave poor metallurgical results and often saleable concentrates were difficult to produce. The concept of semi-bulk flotation and double bulk flotation with coarser grinding of the ore, followed by single or double-stage regrinding and sequential flotation was established to be most effective in achieving optimum metallurgical results. This flowsheet design gave superior results as compared to the conventional sequential flowsheet, and resulted in a lower reagent consumption, a significant reduction in the circulation load of intermediate products, and improvement in the rate of flotation of valuable minerals. Thus, optimum flotation conditions were provided for different products within the flowsheet.

Jan 1, 1993

By P J. Harper

Maximising shareholder value is a widely stated strategic goal of many mining companies. Mining projects can be capital intensive and achieving good returns is essential to encourage future investment in the industry. Despite the widely accepted importance of shareholder value, the minerals industry is often accused of providing relatively poor returns when compared to other industries. There are many recent and well publicised examples of minerals companies that have failed to deliver value to their shareholders. There are numerous business improvement initiatives employed within the mining industry to assist mine operators improve performance. Some are more effective at creating value than others. Benchmarking is one technique that is commonly used to identify performance gaps and target and prioritise opportunities for improvement. However to be effective, Benchmarking must be used appropriately and result in actions that lead to measurable operational improvement. When conducting a Benchmarking project it is important to remember that the aim should be to improve value. For this to be achieved, the strategic goals must be incorporated into the process. This paper details a structured and comprehensive approach to conducting a successful Benchmarking project. Focusing on Benchmarking as a technique for measuring and improving operational performance in underground mines, the underlying drivers of best practice in underground mining are identified.

Jan 1, 2005

Zinc produced by pyrometallurgical processing techniques suffers the disadvantage of restricted market potential because of its impurity contents, typically lead and cadmium. Market zinc to the Special High Grade (SHG) standard can only be produced by reflux distillation refining, which is costly in terms of energy and equipment, and potentially capacity limiting. Recent published laboratory work suggested that molten salt electrorefining of zinc metal is a potentially much cheaper alternative to the reflux distillation refining. The extrapolation of the laboratory results to an industrial configuration, however, resulted in an estimated power consumption for electrorefining and associated costs offering no advantage over current reflux distillation practice. A review of this estimate now shows that a serious error in calculation was made, and that the energy consumption for the electrorefining of molten zinc would be an order of magnitude lower than that for reflux distillation refining. While this is a promising indication, further research is required before development towards an industrial scale operation is warranted. This would particularly relate to the extent to which adverse electrolyte deterioration may take place and its potential effect on the anode and cathode efficiencies of the process. This paper considers the laboratory investigations required to explore the industrial potential of the molten salt electrorefining of zinc and foreshadows some of the practical problems to be solved in further development.

Jan 1, 2000

While there is reasonable agreement on the basic chemistry of the slag fuming process, there has been an on-going debate for nearly 50 years as to the nature of the rate controlling factors in its industrial application. There have been advocates in the technical literature for thermodynamic limitations on the one hand or kinetic limitations on the other. The different viewpoints result in very different predictions as to the technical and commercial potential of the process. A resolution of the debate becomes of importance as pyrometallurgical processes are advocated as a means of extracting environmentally deleterious elements from metallurgical wastes. The present paper reviews the arguments in favour of both equilibrium and kinetic control and puts forward the view that much of the evidence for limitation of the process by kinetic factors under all conditions is unconvincing. It is maintained that the process can approach thermodynamic equilibrium under industrial conditions and that this determines the ultimate limitation on its technical performance. It is acknowledged, however, that kinetic considerations may cause the batch process to fall well short of performance predicted on thermodynamic grounds. The strong process limitation arising from the influence of chemical thermodynamics on the likely outcome of a hypothetical continuous fuming process is contrasted with optimistic forecasts resulting from the extrapolation of process models based only on kinetic considerations.

Jan 1, 2000

Erratic, though spatially localised occurrences of gold particles are a common feature of high-nugget gold systems. In many cases, gold is present as isolated or clustered, often coarse particles. The nugget effect is a part consequence of small-scale geologically controlled enrichment, and the inclusion or exclusion of gold particles from samples. Economic zones are generally contained within discrete structurally-controlled ore shoots which are surrounded by, and may include barren to low-grade background material. Problems are often encountered where small sample types (eg drill core and channel samples) of a few kilograms mass understate in situ grade by up to a few orders of magnitude, due to their general inability to represent the true gold particle distribution. This leads to uncertainty in mineral resource estimates. This contribution presents case studies where geologically-based parameters have been collected from drill core and underground faces to support grade determination. These parameters - or proxies - are based on mineralogical and/or geochemical (eg specific elemental ratios, fluid inclusion compositions and elemental correlations) criteria. Such criteria can be correlated with different grade domains to provide an indication of true grade within a geologically-controlled context. Proxies have recently been used to support resource estimates reported in accordance with the JORC Code.

Mar 1, 2010

By G H. Luttrell

The use of secondary desliming cyclones ahead of froth flotation cells to reject ultrafine (-45 ¦m) particles has become a popular option in the United States for preparing fine coal feeds for froth flotation circuits. In light of this popularity, several experimental studies have been performed at industrial plant sites to develop a better understanding of the impacts of ultrafine desliming on froth cell performance and, ultimately, overall plant performance. These studies included an evaluation of various circuit configurations incorporating different flotation technologies (conventional machines and column cells) as well as different dewatering systems (disc filters, screen-bowl centrifuges, and thermal dryers). The data obtained from these studies indicate that deslime circuits offer several important benefits including lower product ash, reduced product moisture, better froth handling characteristics, and lower capital and operating costs. In addition, case studies conducted as part of this investigation have been used to develop generic guidelines for how deslime circuits may be successfully applied to improve the overall profitability of fine coal flotation circuits for both the metallurgical and steam coal markets.

Jan 1, 2005

By Pandey A. K, Srivastava A, Das A

Drilling and blasting constitute important activity in mining operations and account for around 20% of the total excavation cost. The utilization coefficient of energy for explosions of the fragmentation type is hardly 15 to 2035 and an enhancement in this is possible only through optimization of blast design. Designing a 'blast is a complex planning task, which for optimum results calls for matching the energy level of the explosive, rock properties and bench geometry. Optimum blast design needs a comprehensive study and an objective analysis of the intersecting elements. A cost optimised approach is often adopted with due consideration for all the cost sectors viz., drilling, blasting, loading, hauling dumping, and primary crushing, contributing to the overall miring cost. The present study deals with a performance prediction model which predicts the optimum burden for an explosive system in a given rock type to produce a certain desired fragment size. The model is framed on the inputs : shovel size, drill size, unit cost of drilling, bench dimensions, rock density, bond index, unit cost of explosive, maximum work potential. The model has been extended to compute the drilling and blasting costs for an assumed size of the bench to be blasted per round, so as to arrive at the overall cost optimization from a number of explosive systems. A comparative cost calculation with different explosive systems has been presented for a typical iron ore mine in India.

Jan 1, 1990

An efficient stores organisation is essential for an efficient undertaking. Unless the stores organisation is able to meet the requirements of its requisitioners promptly and economically, the undertaking as a whole cannot function efficiently.Delays or errors in supply of material, or substitution due to lack of material availability from the stores are costly and must be eliminated. This then makes the objective of a store, to supply on demand at the cheapest possible price, those items of stock which it is organised to carry, also to procure as quickly as possible and at the lowest price those special items required which are not normally carried in stock. To do this it is necessary to set up a stores organisation consistent with the size and requirements of the undertaking. Stores organisations vary with the nature of the undertaking they are designed to serve. In the case of the Broken Hill Associated Smelters Pty. Ltd., an organisation has been established to meet the operating and maintenance requirements of the Port Pirie Works. These embrace the particularly wide range 0:1; activities associated with roasting" blast furnacing and refining the lead concentrates from the Broken Hill Mines in a continuous metallurgical process producing a variety of refined metals; also many associated activities including power production and engineering maintenance and construction.

Jan 1, 1951

Modern, high-output, continuous process plant requires heavy capital expenditure and is exroected to achieve a high rate of return upon the investment made, thus its high utilisation is an economic necessity. Downtime is extremely expensive not only in terms of idle capital but also in terms of lost production and revenue. A sound maintenance management system can alleviate the problem of unscheduled stoppages and a key document in the maintenance system is the Work Order because it both initiates work and conveys maintenance control information back to the administrator. This key document must be supported by an information base that provides technical data, job procedures, spare parts, history and costing. To be effective this information must be easily and immediately available to all concerned. Computer technology has developed extremely rapidly over the last ten years and with it a wide variety of on-line computerised maintenance systems. Selection of the most appropriate system for a given industrial plant is not a straight-forward process. Computer requirements for hardware and software must be matched to the requirements of the maintenance system and such matching must be carried out in an ordered and rational way. At Kalgoorlie Nickel Smelter, time was taken to review the existing maintenance system, select, study and test the new computerised maintenance management package and plan its implementation. As a result, the initial target of equipment recognition has been achieved on schedule and within budget.

Jan 1, 1987

By G P. J Dijkema, M A. Reuter

From a material cycles perspective all processes are interconnected and consequently a process can never be evaluated as an isolated and independent unit. This also holds true for the evaluated co-incineration options. Environmental and sustainability issues for example, such as raw material and energy utilisation or air pollution, are a resultant of the whole system of industrial activities. It is therefore important, not to optimise a single process or industrial activity, but rather the whole system. Although engineering procedures for the design of individual industrial units are well developed, the problem of determining the best arrangement of these interconnected units is often far more difficult. Regulation that manages the arrangement of the units for waste processing is still under construction. In the evaluation of co-incineration, analogous principle from process control can be used: feedforward control. This principle includes the determination of which outlets can be used for all process outputs, hence avoidance of any æunusableÆ products or wastes possibly arising from co-incineration. To establish the extent, to which produced wastes are usable, a system overview is necessary, in addition to in-depth information on the subsystems, which produce and can consume wastes. Material cycles modelling can be used as the basis for a tool that supports the development of a suitable playing field. It should provide overview of the system and in-depth information on its subsystems. This tool then represents an attempt to bridge the gap between æholisticÆ industrial ecology and process engineering.

Jan 1, 2000

By Henderson J

Iron ore samples selected from the Deepdale, Iron Prince and Mt. Newman ore bodies have been pelletised on a pilot scale plant and subsequently reduced under laboratory conditions by hydrogen or carbon monoxide. Pellets approximately 1 cm in diameter have been reduced by hydrogen over the temperature range 5000- 900¦C and the results examined by thermogravimetric, microscopic, electron probe and x-ray techniques. After an initial time delay it was found that up to 95% reduction the rate of reduction could be described by a transport con- trolled porous model, in which the effective diffusivities of hydrogen in theòpr¦duct layer and the reaction zone are filar. Independent measurements of effective diffusivity supported the values obtained from the reduction data. ve 95% reduction the rate decreased markedly due to the formation_of retained wustite or fayalite. Comparison with reduction by carbon monoxide over the temperature range 7500 - 900¦C showed that the rate eduction by carbon monoxide was approximately five times slower than the rate by hydrogen. The rate of reduction was found to be a function of the properties of the pellets, which may account for the ely conflicting results that have been obtained in previous investigation on porous pellets.

Jan 1, 1970

By L S. Barbour, M K. Meiers

Soil covers for mine waste are subject to changes in structure as a result of root development, and wet/dry or freeze/thaw cycling. The purpose of this study was to evaluate the changes in the hydraulic conductivity of three non-compacted clay covers over time. The covers are located on a sodic/saline overburden fill (30-Dump) at the Syncrude oilsands mine in Fort MacMurray, Alberta, Canada. Monitoring of these covers for temperature, matric suction, and water content by the University of Saskatchewan has been ongoing for more than three years. The three covers (D1, D2, and D3) were constructed in 1999 and are 50 cm, 35 cm, and 100 cm thick. The covers are comprised of a surface layer of reclaimed peat/mineral mix over a secondary reclaimed mineral soil (glacial till or glaciolacustrine clay), placed over a sloping shale surface. Field measurements of hydraulic conductivity within the secondary layer were obtained using a Guelph Permeameter during the 2000, 2001, and 2002 summer field seasons. Repeated measurements were made within the D1, D2, and D3 covers at depths of approximately 40 cm, 30 cm, and 60 cm, respectively. The values of hydraulic conductivity for the covers were similar to each other during each of the field study seasons. The mean hydraulic conductivity of the secondary layer increased every year: 2.5 + 10-6 cm/sec to 2.1 + 10-4 cm/sec to 4.3 + 10-4 cm/sec from 2000 to 2001 to 2002. Soil temperature data shows that one freeze/thaw cycle occurred each year at the measurement depths.

Jan 1, 2003

By F R. A Jorgensen, G W. Jensen

A pilot scale experimental investigation of the condensation of zinc vapour from smelter off-gases was performed in conjunction with a mathematical modelling study of the system. The work investigated the feasibility of using the high heat and mass transfer rates associated with a fluidised bed to condense zinc directly from smelter off-gases containing zinc vapour. Of particular interest was whether zinc would revert to zinc oxide during the process of condensation, and whether a zinc fog would form and be carried out of the condenser. A 0.1 m diameter fluidised bed condenser was mounted on the top of a 200 kVA DC electric arc furnace in which mixtures of vapours and gases were generated at 1150 - 1300¦C. The gas/vapour mixtures investigated included Zn/N2, Zn/N2/CO/CO2 and Zn/N2/H2/H2O. Greater than 90 per cent of the zinc was deposited on the zircon sand bed of the condenser, and there was no sign of zinc oxide formation, suggesting that the rate of heat transfer was faster than the reaction rate for zinc oxide formation. There was also no evidence that fog was being formed in the condenser. Using the methods of Kunii and Levenspeil (1991), a mathematical model was developed to predict the behaviour of the fluidised bed condenser. The model enabled the distribution of gas/vapour temperature and bed temperature to be determined as a function of distance from the condenser inlet. Similarly the partial pressure of zinc vapour in the gas mixture, and hence the mass transfer rate of zinc to the particles, was determined. Experimental data allowed validation of the predicted bed and gas/vapour temperatures.

Jan 1, 2000

By R J. Nicholson, J M. F Clout

As part of an overall strategy to make significant new technological advances for the sustainability of the mineral processing and related process industries CSIRO Minerals has developed a new dry separation device. It represents a technology breakthrough and has the potential to radically change the way in which dry particle size classification is achieved in the minerals industry. Conventional dry separation techniques have limited applications and often suffer from low productivity, high operating costs, low separation efficiency, the need for dust control and a lack of flexibility. In the absence of efficient dry techniques, wet processing is often used. The use of wet processing either requires the introduction of water into a separation process, which causes environmental concerns through the need for water supply and tailings dams or the use of æunfriendlyÆ chemicals for dense media separations that have considerable impact on handling and disposal. Wet processing also increases operating costs due to plant instability, materials handling, thickening, filtration and product drying. The new CSIRO technology exploits a combination of natural and applied forces to achieve specific particle motions that produce size separation. In doing so, many of the traditional shortcomings of dry separation have been overcome. The CSIRO Dry Particle Size Separator is ideally suited for dry size separation applications within the size range 1 mm to 30 ¦mfor moderate moisture levels (2 per cent), have low unit throughput, produce a fixed cut size and are therefore impractical where very high unit capacity and low operating costs are required. This paper presents a review of dry separation devices together with details of the new Dry Particle Size Separator and typical results for a number of materials, including iron ore and quarry dust.

Jan 1, 2002

DuPont is a chemical and energy multi-national of approximately 90,000 employees. Often regarded as the world leader in injury reduction and process safety management, DuPont operate 140 manufacturing sites around the globe. Conoco is a wholly owed subsidiary of DuPont which is involved in oil, gas and coal exploration.   Throughout this paper I will discuss DuPont statistics, developing a safety culture and training process as well as discussing possible short comings in the New Zealand safety focus. I will conclude with my recommended improvements and issues for New Zealand companies to focus on.   It is very difficult to compare DuPont and New Zealand statistics through lack of compatibility in recording methods and my ability to interpret ACC's Injury Statistics. However through considering DuPont's statistics, and comparing them to your own companies or departments, you will agree they are indeed impressive. I hope that by discussing DuPont's safety philosophy, and possible shortfalls within New Zealand Legislation many of you will find ideas and inspiration which will help you to further reduce your own injury rates.

Jan 1, 1997

The Mungana group of mines, in the Chillagoe district, yielded 334,000 tons of ore giving 31,831 tons of lead, 7,907 tons of copper and 3,228,600 ounces of silver. The Girofla mine produced approximately 220,000 tons of ore, and with the Lady J ane mine supplied most of the ore from this centre. The deposit was discovered in 1888, but active development did not commence from the main shaft until 1898. A subsidiary of the New Chillagoe Railway and Mining Co. Ltd., the Mungana (Chillagoe) Mining Co. Ltd., worked the mine from 1902 until 1914, selling copper, copper-lead, lead ores and fluxes to the smelters at Chillagoe. The smelters stopped operations in 1914 when the richer ores of the Girofla had been worked out and production from the Lady Jane had ceased due to heavyground and fire. The Girofla shaft was 823ft. deep with a cross-cut at 810ft. At the 710ft. level contour drives had delineated the orebody, which had been stoped about 10ft. above the level. Except for flux ores which had been stoped only for favourable smelter tariffs, the orebody was practically exhausted above the 610ft. leveL Under company ownership the mine yielded 139,265 tons of an average grade of 4.QlYr copper, 16.2% lead and 12.5 oz. per ton silver.In 1921 the Queensland Government re-opened the mine and worked it until 1927. The North Lode (Fig. 2) was discovered almost immediately at the 100ft. level and was worked down to the 410ft. leveL The ore from this branch and the completion of the stope at the 710ft. level yielded about 80,000 tons of ore averaging 0.4 copper, 9.8 lead and 7.8 oz. per ton silver during this period.

Jan 1, 1953

By M A. Gontalves, A F. D C Varajpo, S A. Stachissini

Clays from the Santa Elena Peninsula, south-east of the Ecuador coast, were investigated with a view to identifying their main mineralogical, physical, chemical and textural characteristics as well as their potential for industrial use as adsorbents. Identified as calcic bentonites, two representative samples from the Tosagua Formation (Oligocene to Lower Miocene) were selected for acid activation trials. The selection criterion was based on the greatest amount of clay fraction (<2 ¦m fraction) associated with the greatest content of montmorillonite. For the activation treatments, HCl and H2SO4 solutions of 4, 6 and 8 N were used in a stirred glass reaction vessel with the clay sample under reflux during four hours at temperatures of 70¦C for HCl and 85¦C for H2SO4. Mineralogical analysis by X-ray diffraction (XRD), chemical analysis by X-ray fluorescence (XRF), differential and gravimetric thermal analysis and measures of density, surface area and porosity indicated the changes occurred in the crystal structure of the montmorillonite. The acid treated clays were utilised in trials of purification and decolourisation of soybean vegetable oil in a ratio of 2:100 (clay/oil) at 90¦C for 30 min, under constant stirring. After centrifugation of the suspension, the wavelength of the bleached oil was measured by UV-visible spectrophotometer and the bleaching capacity of the clays was determined. The best bleaching capacity of the samples was obtained with 6 N H2SO4 acid-activated clays. The bleaching capacity was compared to Tonsil, a commercial acid-activated clay and similar results between them evidenced the potential industrial application of the Ecuadorian clays to bleaching of vegetable oil.

Jan 1, 2008

The comminution process indicates that the most energy-efficient comminution system would be one where the particles leave the breakage field as soon as they reach product size. Contrary to the free falling gravitational (vertical) flow in crushers, the grinding millÆs energy efficiency essentially depends on ore characteristics and the discharge rate of broken particles, which in turn depends on how efficiently the discharge pump (grate and pulp lifters) operates. The essential function of a pulp lifter is to transport the broken material and slurry from the discharge grate out of the mill. Hence, the design optimisation of pulp lifters affects not only the energy efficiency and throughput of autogenous grinding/semi-autogenous (AG/SAG) grinding mills, but also contributes other process benefits such as improved wear life and operator-friendly steady and smooth mill operation. Following its introduction in 2006, OutotecÆs patented Turbo Pulp Lifter (TPLÖ) design has been retrofitted at existing sites and also installed in some new ones around the world. This paper will provide operational experience and data on how the TPLÖ design has allowed AG and SAG mills to operate efficiently.

Jan 1, 2009