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By I H. Jung, W O. Choe

Gallium (Ga)-containing compounds such as Gallium Arsenide (GaAs) and Gallium Nitride (GaN) are widely used in electronic devices due to their superior electro-optical properties and their usages increase rapidly. For the sustainable supply of Ga to electronic industry, therefore, the recycling of Gallium becomes essential. Pyrometallurgical Ga recycling process involves the complex chemical reactions between slag, matte, liquid metal, gas, refractories, etc. Therefore, the accurate thermodynamic information and phase diagram data for the oxide system containing Ga2O3 is important. In the present study, new phase diagram experiments for binary SiO2-Ga2O3 and ternary CaO-SiO2-Ga2O3 system are carried out using Differential Thermal Analysis (DTA) and quenching experiments followed by Electron Probe Micro-Analyser (EPMA) and X-Ray Diffraction (XRD) phase analysis. Based on new phase diagram data and available literature data, the thermodynamic modelling of the entire CaO-SiO2-Ga2O3 system is performed for the first time.

Jun 19, 2024

By F Sandrone, J-P Dudt, J Zhao, E Paltrinieri

Tunnel boring machines (TBMs) excavation is nowadays more and more considered a valuable alternative to conventional tunnelling. As a matter of fact, thanks to its advantages such as greater rate of advance and safer working conditions, the application of TBMs has increased significantly in recent years. Despite the possible excellent performance of TBMs in favourable ground conditions, the advance rates could be significantly slowed down or even obstructed in limiting geological situations. This obviously traduces in potentially longer tunnel construction times and higher costs and, therefore, in a preference for conventional method. One of the major geological hazards encountered during tunnel construction, is related to the presence of fault zones or heavily jointed and fractured rocks. The most common geotechnical problems resulting from tunnelling in these difficult conditions include the instability of the excavation face, instabilities of side-walls producing large overbreaks on the tunnel profile, excessive deformations in case of squeezing grounds, frequently changing stresses in terms of magnitude and direction, high water inflows, etc. The decisions aids for tunnelling (DAT) is a model and a computer code that can be used to evaluate the influence of the uncertainties related to both the geological/geotechnical conditions and the construction process on final tunnel construction time and costs. In this framework, the DAT is used for assessing the effects that challenging ground conditions may have on tunnelling operations in terms of costs and delays. This is done by simulating the tunnel construction considering several geological profiles. The aim of the study is comparing different excavation methods (ie drill and blast versus TBM) in changing ground conditions along the tunnel alignment ranging from good rock, to very poor and fractured formations. The results show the impact, in terms of changing construction time and cost, of the excavation method versus the ground conditions.CITATION:Paltrinieri, E, Dudt, J-P, Sandrone, F and Zhao, J, 2014. Comparison of excavation methods in different ground conditions with the decision aids for tunnelling, in Proceedings 15th Australasian Tunnelling Conference 2014 , pp 573–580 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Sep 17, 2014

By M I. Pownceby, W J. Bruckard

A South African chromite sample was subjected to characterisation and physical beneficiation testwork in order to assess its suitability to produce an upgraded chromite product with a silica level of <1 per cent SiO2 and a chromite level of >46 per cent Cr2O3. Chemical analysis by XRF indicated that the bulk material had a Cr2O3 content of 40.5 per cent w/w and a SiO2 content of 7.5 per cent w/w. Combined XRF analysis with sizing data showed that the majority (~70 per cent) of the siliceous material was present in the +600 ¦m fraction while ~70 per cent of the Cr2O3 was in the -600 ¦m fraction. Qualitative mineral phase analysis by XRD indicated that the sample mineralogy was dominated by ferrian-magnesiochromite spinel ([Fe,Mg]Cr2O4) and aluminium-chromite spinel (Fe[Al,Cr]2O4), with enstatite (Mg2Si2O6), haematite (Fe2O3) and anorthite (CaAl2Si2O8) as minor phases. SEM and EMP characterisation showed that the silica was mainly present in discrete enstatite grains but lesser amounts were also present as the high silica phases plagioclase and enstatite on the edge of grains. Wet gravity separation performed on sized fractions (-600+106 ¦m size range) from the -2.0 mm (primary) ore as well as the ore that had been crushed to pass 0.6 mm (secondary) showed that stage crushing of the -2 mm +600 ¦m fraction followed by wet gravity separation upgraded the Cr2O3 grade at 70 per cent Cr2O3 recovery from ~44 per cent Cr2O3 in the primary material to 46 per cent Cr2O3 (the target grade specification) in the secondary sample. It also showed that the stage crushing of this +600 ¦m fraction at a cut-off level of one per cent SiO2 increased the cumulative Cr2O3 recovery from ~50 per cent in the primary material to ~63 per cent in the secondary sample in the same size range of -600+106 ¦m. The extent to which additional crushing could lead to improved chromite recoveries at the required chromite and silica grade target specifications was not determined. This experience demonstrates that prior to processing test work being conducted, a thorough understanding of the chemistry and mineralogy of the test sample promotes efficient and targeted processing research.

Jan 1, 2008

By Connell JE

The Worthing Mine near Hallett Cove. 20 km southwest of the cite of Adelaide, belongs to Aus- tralia's first mining era, which took place in South Australia between 1841 and 1851 (Figure 1). Oper- ations began in 1849 only six years after the com- mencement of metal mining in Australia at Glen Osmond. Although not as historically significant as Glen Osmond (1841), or the much larger copper mines of Kapunda (1844) or Burra (1845) its importance lies with its Cornish enginehouse and chimney. The Worthing enginehouse, built in 1851-1852 is the oldest remaining in Australia and certainly the most significant relic of Australia's first mining era. Six other stone enginehouses were built during that period: at Kapunda in 1848 and 1850: at Burra in 1849, 1850 and 1851; and at Tungkillo in 1849. All of these houses have long since dis- appeared although the foundations of one (Kapunda, 1850) still remain. The significance of the Worthing site is enhanced by its magnificant environmental setting in the bare, steep valley of Field River. Currently (1986) the Worthing Mine is the only site within the City of Marion which is on the Register of State Heritage Items. The site is also included in the Classified List of the National Trust of South Australia and on the Register of the National Estate.

Jan 1, 1987

By A T. Bernardes

Using the cellular automata computational technique it was possible to simulate the generation and discharge of an iron ore pellet pile inside a direct iron reduction oven, as well as to calculate the reduction degree of the pellets as they leave the oven. It allows simulation of the variation of operational parameters and verify the results of those variations in the pellet reduction degree. The simulated data was validated in two instances: for the dynamics of the pellet flow inside the oven it was used in an acrylic bi-dimensional silo; and data from direct reduction iron literature was used for validation of the pellet reduction. The simulated results were considered acceptable to describe the movement of the iron pellet inside the direct reduction iron oven and to describe the iron pellet reduction direct in the oven.

Sep 26, 2011

The implementation of a process information management system (PIMS) is to provide a single online, real-time information system. This system provides a unique and completely open view for everyone, based on the key business drivers. It is structured around the three key concepts: process, maintenance and stocks. It combines numerous applications and provides accessibility to common tools and reports, through a web-based user interface, for every one from the floor operator to the General Manager. This æunique and commonÆ view displays raw, online process information that provides a quick health check of the operation at a glance, highlighting areas that require further investigation. The system is based on a hierarchical system of views, from the overview of the whole plant flow sheet to the more detailed operational shop view. It provides a synthetic view between continuous and batch operations, enabling the tracking of each batch produced. The batch view displays the critical batch components, and a comparison with each component of an ideal batch. This enables detailed analysis of each batch to identify areas of improvement. The information system will consist of an online reconciliation of stocks and flow data. This enables focus on the recovery of each process unit on a regular basis. This paper discusses the design strategy for the Process Information Management System, to ensure a unique and open view on the key business drivers is achieved and implemented successfully.

Jan 1, 2005

By J Zhao, C E. Loo

The flame front is a narrow region in the iron ore sintering bed where coke particles combust. The maximum flame front temperature is as high as 1400°C. At high temperatures, the sinter mix components react to form melts, which facilitates material coalescence and the formation of dense sinter particles. It is well-established that flame front speed is an important factor influencing sinter productivity, sinter quality and fuel rate. In this work, the effect of suction, coke addition and mix moisture on flame front speed was studied in a pilot-scale sinter pot and also using the outputs of a recently developed theoretical model, which takes into account most of the significant physicochemical processes in sintering. Airflow through the bed has a large influence on flame front speed. A power law relationship between these two parameters means that increasing sintering airflow rate will lead to increased flame front speed, but the increases become smaller at higher airflow rates. Sinter pot test results showed that increasing coke addition decreased green bed permeability and increased flame front temperature, which resulted in increased flame front resistance and decreased flame front speed. Studies also showed that green bed properties are sensitive to sinter mix moisture level. The changes in green bed properties further influence the flame front speed and temperature.CITATION:Zhao, J and Loo, C E, 2015. Dependence of flame front speed on iron ore sintering conditions, in Proceedings Iron Ore 2015, pp 83–90 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Jul 13, 2015

Geologists often classify ore textures on the basis of the origin of the rock in which they form and the grade of one or more minerals within the ore (Sinclair and Blackwell, 2002, pp 32-36).  Metallurgists, on the other hand, need to know how best to process the ore in order to extract the valuable minerals from it (Petruk, 2000). Geological classification has the following disadvantages:it requires the services of skilled economic geologists, of whom the supply has been dwindling for many years;it is subjective, depending on the perceptions of the individual geologists who make the classification; andit may relate only weakly to processing requirements of the ore. We describe methodology for automatic classification of ore textures from images of drill core. The images analysed are æclassifiedÆ images, in which a particular mineral (or mineral group) is assigned to each pixel. The new methodology is intended to:provide a quantitative and reproducible alternative to traditional geological texture classification,relate to process mineralogy of the ore, andimprove the ore-texture-related input to orebody domaining and geostatistical block models.

Jan 1, 2008

By R C. Morris

Secondary microplaty haematite in its variety of styles and generations is the defining component of the high-grade banded iron-formation (BIF)-hosted iron ores of the world that are dominated by martite (M; - haematite pseudomorphs after magnetite). The term microplaty haematite (mplH) was introduced during the CSIRO-AMIRA 1976-1994 iron ore program, and was used to differentiate the then main export martite-microplaty haematite (M-mpl H) ore types of Tom Price-Whaleback and Paraburdoo (Paleoproterozoic), from the newly exploited, more prolific supergene martite-goethite (M-G) ores (Mesozoic-Paleocene) of the Hamersley Province that are now the major Hamersley iron ore exports.Morris (1980, 1985) suggested that the most important genetic factor that distinguishes the two main ore types was regional metamorphism of Paleoproterozoic M-G ores at temperatures normally related to diagenesis (ca 80 - 100°C). As temperatures increased, mplH grew in goethite both spontaneously as well as by nucleating on martite and other pre-existing haematite. Because the conversion of goethite to haematite involves a ~27 per cent reduction in volume, the crystals probably grew within microvoids of their own creation, with iron transfer through water resulting from the process itself, a local hydrothermal process requiring no introduced hypogene fluids.Barley et al (1999) and Taylor et al (2001) concluded instead that oxidation of introduced siderite in hydrothermally metasomatised BIF ‘protore’ resulted in mplH + ankerite by reaction with heated meteoric fl uids. This postulated ‘protore’, still preserved locally at Mt Tom Price, was described during the CSIRO-AMIRA program as local post-ore BIF metasomatic residuals. These new hypogene-meteoric concepts for M-mpl H genesis have formed the basis for a range of varying local and international models that currently dominate the literature of iron ore.No valid petrographic data supporting the hypogene-supergene modelling was found but petrographic images of goethite-related mplH growth in a range of different environments are shown.

Jul 11, 2011

By G N. Musafer, M H. Thompson, R C. Wolff, E Kozan

The most important aspect of modelling a geological variable, such as metal grade, is the spatial correlation. Spatial correlation describes the relationship between realisations of a geological variable sampled at different locations. Any method for spatially modelling such a variable should be capable of accurately estimating the true spatial correlation. Conventional kriged models are the most commonly used in mining for estimating grade or other variables at unsampled locations, and these models use the variogram or covariance function to model the spatial correlations in the process of estimation. However, this usage assumes the relationships of the observations of the variable of interest at nearby locations are only influenced by the vector distance between the locations. This means that these models assume linear spatial correlation of grade. In reality, the relationship with an observation of grade at a nearby location may be influenced by both distance between the locations and the value of the observations (ie non-linear spatial correlation, such as may exist for variables of interest in geometallurgy). Hence this may lead to inaccurate estimation of the ore reserve if a kriged model is used for estimating grade of unsampled locations when non-linear spatial correlation is present. Copula-based methods, which are widely used in financial and actuarial modelling to quantify the non-linear dependence structures, may offer a solution. This method was introduced by Bßrdossy and Li (2008) to geostatistical modelling to quantify the non-linear spatial dependence structure in a groundwater quality measurement network. Their copula-based spatial modelling is applied in this research paper to estimate the grade of 3D blocks. Furthermore, real-world mining data is used to validate this model. These copula-based grade estimates are compared with the results of conventional ordinary and lognormal kriging to present the reliability of this method.CITATION:Musafer, G N, Thompson, M H, Kozan, E and Wolff, R C, 2013. Copula-based spatial modelling of geometallurgical variables, in Proceedings The Second AusIMM International Geometallurgy Conference (GeoMet) 2013 , pp 239-246 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Sep 29, 2013

By A Hekmat, R Castro, A Casali, R Gómez

Block caving is the most economic underground methods for excavating massive orebodies, due to the high productivity and low production costs. The success of block caving operations depends on the fragmentation and draw control as large blocks decrease the equipment efficiency, inhibit the material flow and may lead to expensive secondary blasting. Even though ore handling system design, as well as overall economic results, both critically rely on secondary fragmentation, this parameter continues to be one of the least understood issues in the caving operations.This research focuses on the experimental study of secondary fragmentation, considering the impact of vertical pressures and material flow. Experiments using a load-haul-dump extraction system were conducted under laboratory conditions to quantify the influence of pressure and particle size on secondary fragmentation. Results demonstrate that increasing the vertical pressure (simulating deeper conditions) leads to higher fragmentation (smaller particle size) and greater fines generation during draw. The experimental results were applied to calibrate the developed mathematical model based on kinetic matrix. The acceptable accordance between the comminution model results and the reality showed that this method is convenient in predicting the secondary fragmentation in block caving.CITATION:Castro, R, Gómez, R, Casali, A and Hekmat, A, 2016. Experimental and comminution model framework for secondary fragmentation prediction in block caving, in Proceedings Seventh International Conference and Exhibition on Mass Mining (MassMin 2016), pp 175–182 (The Australasian Institute of Mining and Metallurgy: Melbourne).

May 9, 2016

Commercial explosives range from pure emulsions to pure ANFO, with blends of these providing interesting alternatives: energy is often adjusted through addition of aluminium, or the control of density. The energy rating of explosives is derived chiefly from detonation codes, which are used to derive expressions for the internal energy change of the detonation products as they do work under expansion. While all codes used for this purpose work on the basis of Ideal detonation, it is common knowledge that commercial explosives operate in the Non-Ideal domain, which affects the mode of energy delivery to the environment. However, since Ideality represents the foundation from which actual performance evolves, it is valuable to examine the intrinsic energy release of a formulation before attempting to understand the influence of Non-Ideality. In examining the Ideal pressure profile of fundamental formulations, remarkable correlation has been found with field performance, and this increases understanding of the influence of various formulation modifications, especially in regard to the stage at which energy is released, and the effect on rockbreaking. This work has emphasised the value of attempting to understand and define better the non-ideal detonation process.

Jan 1, 2001

The non-renewable energy resources of Queensland comprise coal, petroleum (oil and gas), oil shale and uranium. Coal is widely distributed., and has been developed extensively both for export and for use within the State. Proven reserves total 5 390 million tonnes recoverable of coking coal and 5 580 million tonnes recoverable of non-coking; very large resources particularly of non-coking coal are still to be quantified by further drilling. Annual production is of the order of 20 million tonnes of coking coal, principally for export, and 6 million tonnes of non-coking, mainly for power generation within the State. Petroleum resources are meagre in com- parison with those of coal. Initial recover- able reserves of liquids (mainly in the now substantially depleted Moonie Oil Field) totalled only 4.2 million m3. Initial recover- able reserves of gas (mainly in the western Surat and Bowen Basins) totalled 7 800 million m3. Annual production is of the order of 64 thousand m3 of liquids for refining in Bris- bane, and 268 million m3 of gas mainly for production of fertiliser and for industrial and domestic heating, in Brisbane. Prospects are fair for the discovery of additional reserves. Two deposits of oil shale are potentially of economic significance. The Rundle deposit at The Narrows in central Queensland has the

Jan 1, 1979

By S Versace, D Arnott, D Bojcevs, A Shaw

The George Fisher deposit is a significant sediment hosted silver-leadzinc resource located 2 km north of the Hilton Mine in NW Queensland. The George Fisher feasibility project involved the completion of underground and surface drilling programs to delineate Measured and Indicated Resource which could be converted to an Ore Reserve through mining and commercial studies. The geological information which was collected and used for the feasibility study included a major program of diamond drilling, predominantly from underground sites, but with some drilling also completed from surface. All drillcore was geologically and geotechnically logged, sampled and assayed. Data was also collected from underground cross-cut and drive development which was mapped for rocktype, ore distribution, structure and geotechnical condition. This new geological data, generated during the Pre-Feasibility and Feasibility stages, was combined with results of all previous drilling campaigns in the George Fisher area to produce a comprehensive database on which geological modelling and Resource estimation could be based. To allow fast and accurate collection and utilisation of data from the drilling program, digital collection processes were used where possible. This resulted in rapid data entry into the project database, significantly enhanced data quality, 100 per cent data ownership within the project team and increased productivity levels. Processes used during the project data collection program are described, lessons learned are related and suggestions for ænext timeÆ are listed using the benefit of hindsight.

Jan 1, 1998

By J Meinhart, J Rodler, I Katolicky

The ever increasing number of vehicles is leading to slow-moving and even stationary traffic sitting longer in traffic jams over extensive city areas. This traffic situation causes a sharp increase in pollutant emissions from vehicles, and high levels of pollution usually result throughout the built-up area. Reducing the pollution level by using traffic routing measures to speed up the flow of traffic in the existing street network is only possible in exceptional cases.In many cases the only option for achieving a significant improvement in traffic conditions is to shift the traffic underground using a road tunnel or underpass. Such tunnel routes suck off the traffic from large sections of the city, thereby easing the overall traffic flow. Thus on the one hand it produces a sharp reduction in pollution levels in the area of the tunnel route, but on the other hand it can result in locally increased exhaust pollution levels from longer tunnel systems that require mechanical ventilation. The air extracted by the ventilation system is blown out into the atmosphere either directly through the tunnel portal, or via a venting tower. Pollution can therefore occur in the area surrounding such exhaust air outlets.Thus if a tunnel is planned in a city, then closer investigation is required of both aspects: the reduction in pollution in the area of the tunnel route thanks to relocating the traffic and easing congestion, and the increased short-range pollution around the tunnel portals (shafts).

Jan 1, 1999

The history of gold dredging in New Zealand, leading to the develop- ment of the `New Zealand Type' dredge is considered. Much of this infor- mation has come from contemporaneous publications by the New Zealand Department of Mines. Alluvial gold production declined after 1902, and ceased completely in 1982, but is now rising again. The progress of the New Zealand alluvial gold mining industry is considered, together with some of its more exceptional successes. Recent developments are com- pared to those of the past.

Jan 1, 1988

By Laajalehto K

The basic condition necessary for flotation is hydrophobicity of the surface of the mineral to be floated. For sulphides, this condition usually requires treatment with a collector solution. The conditions for this treatment have until recently usually been chosen by the trial and error principle which has indeed been working relatively well under favourable conditions; ie for simple homogeneous ores. However, the present tendency to increasing use of complex and often relatively lean ores sets increasing requirements for the control of the flotation process. This development is the reason for the present rapid development of process control methods in flotation. In addition to the already well-established practices of pH and reagent feed controls, the importance of measuring and controlling the electrochemical potential of the ore particles to be floated is recognised in the case of sufficiently conductive minerals. In fact, the electrochemical potential seems to be the basic quantity determining the flotation behaviour of such relatively well-conducting minerals as sulphides. Since the hydrophobicity of the mineral and, hence, its flotation properties are ultimately determined by the composition and structure of its surface, information on these under different process conditions is important for design and operation of efficient flotation processes. The basic requirement set for the methods used for obtaining this information is high surface sensitivity of the method. The recent rapid development of surface characterisation has produced several methods which fulfil this requirement. Their application to the problem of characterising surfaces of mineral samples in contact with collector solution is, however, often complicated. The main reason for this is the vacuum environment necessary for the measurement. In the case of flotation experiments this means that in most of these methods the measurement cannot be made in situ, but the sample must be extracted from the liquid and subsequently evacuated in the vacuum chamber of the instrument. It is essential to carry out these steps so as to avoid to the extent possible changes in the sample surface. For the purpose of establishing whether this has been accomplished it is important to compare the results of methods operating in vacuum with some available in situ method. An optimal choice of methods seems therefore to be a combination of the available powerful vacuum methods with in situ measurements. The most usual combination seems to be X-ray photoelectron spectroscopy (XPS or ESCA), Fourier transform infrared spectroscopy (FTIR) and electrochemical measurements. This choice combines the unique possibilities for direct elemental and chemical characterisation offered by XPS (Cecile, 1985) with the in situ capability of FTIR and electrochemistry. In the XPS measurements, it is essential to apply a special sample handling technique to avoid loss or damage of some sensitive species of the collector-based layer on the mineral surface. In the following will be given some examples of the application of the XPS technique in combination with electrochemical methods of sample treatment to studies of the layer formed on sulphide substrates in ethyl xanthate (EX)

Jan 1, 1993

By Y Li, B Shen, S Zhang

Jointed rock mass is often encountered in rock engineering and its stability has always been a major concern in underground engineering. To analyze the stress characteristics and their variations in jointed rocks, in this study, a new concept of sub-instability stage before rock failure is defined, and a new experimental method is used to investigate interaction between defects and intact rock of the jointed rock mass during the subinstability stage., Firstly, external characteristics of stress and failure mode of the whole jointed rock are investigated systematically by conducting uniaxial compression tests on red sandstone samples with a set of preexisting open flaws of different sizes, and the interactive damage of intact parts and defects in the subinstability stage was further studied. Secondly, rock-like material samples made of bonded plaster blocks were tested and internal data from stress sensor between the strong and weak segments were collected. The transforming processes from independent activity of the individual segment to overall interactive movement of jointed rock before the unstable failure were analysed. The test results indicated that the subinstability stage marked the beginning of interactive failure between the intact rock and defects. In the early subinstability stage, the relatively intact parts bore most of the load in a jointed rock mass, and the defects were damaged firstly which caused high strain around it. The areas of high strain increase rapidly, extending and migrating, causing damage to the intact parts. In the later sub-instability stage, the interaction effect reached its maximum, and a large number of cracks appeared in the intact rock and they propagated and coalesced. Intact parts experienced rapid failure and then the jointed rock failed. The experimental method used in this paper to identify the sub-instability stage could be used to identify failure precursors of jointed rock masses and to develop technology for disaster prevention in rock engineering. CITATION:Zhang, S, Shen, B and Li, Y, 2018. Experimental studies on interactive failure characteristics of jointed rock, in Proceedings The Fourth Australasian Ground Control in Mining Conference (AusRock), pp 453–461 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Nov 30, 2018

By J-P Franzidis

Mill operators have traditionally been forced to rely on grade-recovery curves and overall flotation rate constants when analysing proposed improvements to plants. This has led to loss in money and time when a proposed change that showed potential in laboratory scale tests failed to show improvement in the plant. Frequently, this is a result of the operators being unable to gain insight into how and why the proposed change affected the flotation performance. This is due to the classical models not including any description of the subprocesses of flotation and their individual contribution to the overall flotation performance. A new flotation model has been developed as part of the AMIRA P9 project that separates the flotation process into subprocesses and includes the contribution of both the pulp phase and froth phase to the overall flotation recovery. It is not possible to determine the individual components of this new model on traditional pilot plants as they lack the required flexibility and scale. Therefore a new pilot plant has been developed known as the Floatability Characterisation Test Rig (FCTR) that has the flexibility and features required for the determination of the flotation subprocesses. The flexibility and features of the FCTR also make it an ideal tool for investigations into many different aspects of flotation research. These include the effect of reagents, grinding, and power on the flotation performance. This paper will describe the methodology for using the FCTR in these fields of research and highlights the advantages of using the FCTR over traditional methods.

Jan 1, 2000

Exploration requires a lot of skill, technical knowhow, and money; the money is usually less painfully available when provided by a profitable cash flow of an existing organisation that has income against which exploration cost is deductible. Planning the financing for development of a proven resource should begin at the earliest stages even while the mining plan is being formed up. The character of the participants has a bearing on the nature of the financing "package" and the structure that is to be selected for the venture. The security for borrowers in a remote mining resource is no better than the capacity of the participants to bring that resource to profitability in line with the findings of a thorough feasibility study. Taxation considerations related to the structure selected and the timing of the cash flow are of vital importance. Sales contracts have generally been a basic requirement of institutions financing mineral mining projects. Clauses relating to price, price escalation, and currency var- iations, are key factors in those contracts. Initial contracts have generally been required to cover initial overall costs.

Jan 1, 1974