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Portfolio management tends to separate the functions of Asset Allocation and Stock Selection, so the person responsible for reviewing an expert's report on a company would typically be choosing between companies rather than between a company and cash or bonds. How these choices are made depends on the investment time horizon, philosophy and style. Two styles, momentum investing and value investing are contrasted and the role of valuation methods within the framework of each style is evaluated. Finally, pricing is distinguished from valuation.

Jan 1, 1994

By T Warren, A Dempster, N Barnett, J Oh, S Saydam

The influence of the insulating properties of lunar regolith was shown in the sub-surface temperature tests performed by the Apollo missions, with no significant temperature fluctuations occurring below 80 cm from the lunar surface even if surface temperatures fluctuated >200 K between lunar days and nights (Heiken et al, 1991). Key to the thermal insulation of the regolith is its low density near the surface having the greatest insulative effect with the lunar regolith becomes denser with depth. As the regolith becomes denser, the thermal conductivity of the regolith increases (Hayne et al, 2017). Thermal modelling software, Oxford 3D Thermal Model, which mapped the lunar surface temperatures effect on the thermal influence at the lunar south pole sub-surface over a lunar year found areas with brief illumination with surface temperatures >120 K could have sub-surface temperatures <112 K that can sustain long-term stable water ice at depths of <30 cm (Paige et al, 1992; King et al, 2020). Further to this, the observation of water molecules or other hydroxyls by the NASA/DLR Stratospheric Observatory for Infrared Astronomy (SOFIA) in non-permanently shadowed regions (PSRs) on the Moon, indicated that water could be present beyond PSRs (Honniball et al, 2021). Using the Oxford 3D Thermal Model in selected regions in the lunar south pole, can provide insights into the location and depth of cold traps that could sustain water ice.

Nov 29, 2022

A new approach to strategic planning, the Life of Business Optimisation System (LOBOS) optimises production systems from the scale of stopes in a single mine to an entire business strategy consisting of multiple mines and products competing for capital and processing capacity. LOBOS has optimised cash flow for a wide variety of operations, including large metalliferous or coal mines and as an aid to high-level strategic business optimisation solution to multi-mine/processing/product complexes. This paper discusses the application of optimisation technology to strategic planning with an emphasis on project evaluation with examples on the application of LOBOS to a variety of recent projects.

Jan 1, 2007

By E Giles

Pike River Coal Limited (PRCL) is opening a new underground coal mine in the Paparoa Ranges north-east of Greymouth. To access the coal reserves, PRCL have had to build a 13 km access road through regrowth and virgin forest, and appointed McConnell Dowell Constructors Limited, with URS New Zealand Limited as their consulting engineers, to construct the final access link: a 2.3 km long, 5.5 m wide and 4.5 m high incline tunnel. This paper discusses the logistical issues of construction in an isolated pristine forest in mountain land and how they were addressed. It provides an overview of the 90 per cent complete tunnel and how challenging rock conditions have been mastered. It outlines briefly the remaining work which is construction of pit bottom workings where the mine infrastructure will be housed and construction of a 110 m deep, 4.0 m diameter, vertical ventilation shaft.

Jan 1, 2008

By Kadoya H, Kondo Y

The Harima works were established in 1964 and started operation in 1966. The initial capacity was 3500 t/month of zinc and 1500 t/month of lead. Until 1990 a lot of improvements had been made and the capacity had increased 6600 t/month of zinc and 2200 t/month of lead without enlarging the furnace size. During the ten weeks campaign shut-down at the end of 1990, many modifications were carried out including the enlargement of the furnace shaft area. By these changes, the capacity has gone up to 7500 t/month of zinc and 2500 t/month of lead. In the sinter plant, the amount of SO2 rich gas supplied to the acid plant was raised to 50 000 Nm3/h from 43 500 Nm3/h. An electrostatic precipitator was adopted instead of a venturi scrubber to clean the rich gas. Oxygen enrichment has been continuously operated since August 1991, because the furnace capacity is more than the rate of sinter production. Utilisation of the sinter plant is high being as much as 97 per cent and the sulphur burning rate has been increased. In 1990 the furnace was replaced except the hearth. The shaft area was enlarged to 19.4 m2 from 15.3 m2. The target blast was designed to be more than 36 000 Nm3/h. Tuyere layout was changed to prevent slag breakouts. Due to these modifications shaft condition has been very good. Automatic launder jacket cleaners were installed to increase the lead cooling efficiency. Many other improvements and developments were also made. Coke powder injection from the tuyeres has been successfully operated since April 1987.

Jan 1, 1993

By J Shooter

Pezzimenti Laserbore designed, fabricated and commissioned the first microtunnelling machine in Australia in 1986. The System was initially a very basic one, developed in isolation to the overseas explosion in microtunnelling growth headed by Japan and Germany. Market needs in Australia have demanded increasing flexibility in microtunnelling capacity-longer distances, variable ground conditions and larger diameters. The one constant throughout the development process is in maintaining high accuracy û the attribute which most readily differentiates microtunnelling from other limited steering techniques.This paper will highlight the features of microtunnelling by drawing on case studies of completed projects.

Jan 1, 1999

By S Lowjun, I Verster, C A. Thomas, E Forbes, K Runge, G V. Franks

Fine (<20 µm) valuable mineral particles are difficult to recover in conventional flotation circuits. (Trahar and Warren, 1976; Jameson, Nguyen and Ata, 2007; Kohmuench et al, 2018). This leads to a loss of valuable fine mineral particles to tailings. Recovering these particles would be of economic benefit. Novel reagents, including temperature responsive polymers, for example, are being developed to improve recovery of fine valuable mineral particles by froth flotation (Ng et al, 2018a, 2018b). The approach involves selectively aggregating the valuable fine particles and making these aggregates hydrophobic, resulting in hydrophobic aggregates of appropriate size (in order of 100 microns) being amenable to recovery by froth flotation. The polymers developed have been produced at laboratory scale but not a full scale yet. The exact cost of producing such novel polymers is currently unknown, but they are likely to be more expensive than conventional reagents.

Aug 24, 2022

By Just G. D

Performance of draglines in large scale overburden stripping operations is critical to the efficiency of a major section of the Australian Coal Mining Industry. Optimisation of dragline productivity requires an understanding of a range of operating conditions and constraints. One of the least understood of these operations is the process of bucket filling and how this may vary with respect to variable operating conditions.Studies conducted at The University of Queensland over a number of years into this problem have enabled the mechanics of excavating to be assessed for different types of fragmented rock. In relation to bucket filling, factors such as fill volume, digging time and energy consumption have been found to be significant factors in optimising bucket design, bucket rigging and operational techniques.

Jan 1, 1992

By Seeley D, Buckley N, Goodall J

Improving the performance and reducing the costs associated with export logistics chains is critical to the competitiveness of export coal mines. The fundamental practices associated with the use of export logistics chains made up of mine, trucking, rail and port operations are being challenged by the advent of third party operators on rail systems and the use of the Internet.Whilst individual mines can improve their processes to drive down their mining costs, they face major challenges in their endeavour to improve the performance of export logistics chains and reduce the significant logistics costs of moving coal from the mine to export ships, via the shared infrastructure of rail systems and ports. There is an increasing realisation that global competition is not only between mines but between coal export regions that are defined by their rail system and ports infrastructure.

Jan 1, 1998

Mineral sands are being used as the source material for new "high-tech" engineering materials. One such material, Magnesia Partially Stabilized Zirconia (PSZ) has been developed and patented world-wide by CSIRO. Derived from zircon sands, the material is currently produced by Nilcra Ceramics in Australia and is exported world-wide.The properties of the material are contrary to those generally accepted for ceramics and are far more akin to those of steel. The material resists not only abrasive wear, impact and thermal shock, but does so under corrosive conditions that frequently cause early failure of metal and cemented carbide.While the consumption of mineral sands for the production of PSZ is not going to significantly increase the demand in the short term, the material itself may well assist the productivity and processing problems within the industry.

Jan 1, 1986

By Andersen AK

A previous paper (1) indicated that electrowinning of copper at current densities considerably higher than those currently employed in electrowinning operations is technically feasible. It is of interest, therefore, to establish the extent of economic benefits which may be obtained from high current density operation and to determine the value of the optimum current density. Optimization of electrorefining processes has been discussed in considerable detail by Ibl (2) and Schmidt (3) whop from theoretical considerations, derived expressions for the optimum current density. In this work, general equations relating both the capital investment and the production cost for copper electrowinning plants to current density and plant capacity are established. From these equations, the optimum current density can be calculated for any desired plant capacity.

Jan 1, 1969

By M Matheson

Increasingly, owners and operators of underground mines that have a long history are realising the economic and practical advantages of capturing historic mining records and converting hand drafted plans of underground mine workings into an electronic collection of attributed 3D wireframes that can be used for mine planning and exploration purposes. This case study looks at the conversion of historic data to 3D models, with examples from three historic mining operations where this task has been undertaken: West Wits gold projects in South Africa, Northern MiningÆs Radzimowice gold mine in Poland and Avalon ResourcesÆ Viscaria copper mine in Sweden. West Wits Mining Limited holds leases in the West Rand Goldfield of the Witwatersrand Basin, which has significant gold and uranium resources that have been mined since the 1890s. The Radzimowice Gold mine, Poland, hosts Au-Cu-As-Ag mineralisation that has been exploited since the 15th to 16th centuries. The Viscaria Copper mine is located in northern Sweden and was operational during a 15 year mining period to 1997. The process of data collection, management and modelling is inherently challenging for these mines; specifically, collation of historical information, organising this data into logical arrangements that could be validated and sequentially creating 3D models using geo-spatial computer software. Despite the challenges and costs involved in creating a digital 3D model, the conversion has added significant value to each project through identifying areas of potential new resources, aiding planning and presentation to stakeholders. This paper outlines the processes involved in conversion from paper records to a 3D model, the challenges encountered and how these can be overcome, and importantly, the practical and economic advantages of undertaking such a task for explorers, miners and investors.

Jan 1, 2009

ABSTRACT&apos; The first references to gold in New Guinea were by the Portuguese in 1525. The first significant discovery and gold rush was on Sudest Island in 1888 and was a natural extension of the rush that surged up Australia&apos;s eastern coast and ended at cook- town. Prospectors made a series of minor discoveries in coastal regions before the first large discovery at Wau/Edie Creek/Bulolo in 1925. Major post war gold discoveries were made at Bougainville, Frieda River, Porgera and Ok Tedi. On Misima Island a large bulk low grade deposit has been recognised surrounding old gold workings. Gold exploration has increased drama- tically since the lifting of a 3 year moritorium on new exploration areas in Noverrber 1982. A new bulk low grade gold discovery has been made on Lihir Island, north of Bougainville and a number of other promising areas are being drilled. Gold production is also expanding dramatically from current levels of 600,000 ounces to an anticipated 1.3 million ounces in 1985 with the opening of Ok Tedi. Other potential developments are likely to increase output above 2 million ounces by 1990. Papua New Guinea&apos;s world ranking as a producer is likely to move from 9th to 7th in 1985 reflecting the favourable geological potential, stable political environment and attractive development terms offered by the Government.

Jan 1, 1984

By M Scamardella

The CSA Mine is located at Cobar, New South Wales, where it was in continuous operation from 1966 to the time it went into receivership on 29 January 1998. When it closed it was under the ownership of Golden Shamrock. Glencore International, in conjunction with Mt Lyell Mining, undertook a due diligence study to determine the feasibility to re-open the mine. This envisaged operating CSA Mine as a low-cost, copper concentrate producer under the direction of Cobar Management Pty Ltd (CMPL). The new workforce would consist of contractor trades people in operating functions under the co-ordination of CMPL staff, both on the surface and underground. This was the key to establishing the new culture in the workforce. The orebodies at CSA Mine are steeply dipping with copper-lead-zinc mineralisation in zones of strong alterations in a fine-grained siltstone host sequence. The predominant economic minerals are chalcopyrite, sphalerite and galena. The major gauge minerals are pyrrhotite, pyrite, chlorite, sericite and quartz. Ore for the project is being developed and mined from two high grade copper lenses within the QTS North system. Chalcopyrite occurs in two forms. The first consists of coarse chalcopyrite grains in association with pyrrhotite or pyrite. The second form consists of chalcopyrite grains intergrown with pyrrhotite grains. This form of chalcopyrite is quite rare. It allows electrochemical interactions between grains, resulting in rapid oxidation of the chalcopyrite surface. Physically this ore looks like, and has been mistaken for æpeacock oreÆ, ie bornite, but is infact oxidised chalcopyrite.

Jan 1, 2000

The Tailings Leach Plant at Chingola employs a Leach/Solvent Extraction/Electro- winning process and contains the largest solvent extraction plant in the world, with design liquor flow rates of 55 m3/min. A pilot plant constructed to provide design data also indi- cated areas of uncertain operating and control performance and led to a decision to model the whole circuit to determine the overall dynamic behaviour and basic operating characteristics. Details of the plant flowsheet are given and the basic physical and chemical&apos; equations required for the simulation defined. Each unit operation is considered separately and details of the mathematical models used for their simulation presented.

Jan 1, 1977

Material sampling theory is well established in mineral process monitoring, improvement and control. It has been much enhanced by fundamental contributions due to Gy. When GyÆs sampling theory is applied to sampling inspection and monitoring, it provides estimates of average quality or extent of contamination. It also provides estimates of uncertainty, but these often ignore uncertainty in estimated variograms or other measures of variability. Risk assessment is often an implied task in sampling inspection and quality monitoring. A valid technique of risk assessment needs to take into account the uncertainty in the variational measures themselves. Standard statistical tolerance limit calculations which do take such uncertainty into account can be adapted to develop a technique for handling uncertainty in variational measures such as the variogram. Data from a published example is used to illustrate the technique.

Jan 1, 2005

By M Scoble

This paper is based upon the experiences of collaborating academics in two mining schools and their personal view of attempts to integrate the principles of sustainable development into mining education and research. In this quest, the concept of sustainable mining practices is proposed, not only relating to environmental, social and economic performance but also stressing mine safety and efficiency. These practices need to support strategies that enable flexibility and resilience within mine operations to counter recessionary cycles. Also, these counter-cyclical strategies are now imperative for sustaining mining education and research itself. There is a critical interdependence between these two different perspectives on æsustainabilityÆ. The paper concludes by demonstrating models of strategies that promote inter-disciplinarity, collaboration and networking for sustaining mining schools.

Jan 1, 2009

Milling operations at Misima Mine are discussed, with specific reference to the application of energy and cost saving concepts. Design stage innovations and post-commissioning developments are covered. General operational problems are described with specific reference to problems associated with operating in a remote location.

Jan 1, 1994

The heavy media cyclones at Argyle Diamonds are subjected to extremely abrasive service conditions and have been the subject of a development program from the time the first ore was treated in the AKl processing plant. In the past ten years the cyclones have been re-engineered from a standard DSM design, in which some components would only last four days, to the current Argyle design in which the minimum component life is 175 days. Development has focused upon the elimination of turbulence in the cyclone and combating unavoidable abrasion through the use of appropriate wear materials.

Jan 1, 1996

By Grimstone LR, Leach JHJ

An analytical technique is described to identify areas of structural disturbance to coal and interseam strata in coal measures. It is based on exploration borehole data which records seam intersections and interseam lithologies. Computerised data bases have been developed to allow processing of large quantities of borehole records. The case study discussed is located in a tectonic setting dominated by thrust faulting. It provides a mechanism for the identification of low angle and bedding plane faults. In addition it allows the preparation of plans showing the areal distribution of the thrust sheets in the statigraphic section throughout the mine prospect. The technique requires the identification of normal undisturbed depositional thickness of coal seams and interseams to be determined. This is done for coal by the identification of coal ply distribution over the area. For interseam lithologies it is based on sedimentological modelling of lithology distributions, related back to the original depositional environments. Variations from the expected values are interpreted as structural Deformations.

Jan 1, 1986