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By S Bluhm, L van den Berg

In planning mine ventilation systems, heat issues are normally associated with deep-level mines where auto-compression and virgin rock temperatures play a major role. However, a number of mines suffer from high ambient temperatures and humidity, very steep virgin rock temperature gradients and an influx of hot groundwater. Mines in Australia and, particularly, South-East Asia have to deal with these environmental conditions, both in the operational and planning phases. These operations normally have to take heat into consideration during the planning stages at much shallower depths. In high rainfall regions, the water table is saturated and groundwater flow rates are particularly high, which add significant water heat load potential to the mine ventilation system.This paper considers the ventilation challenges associated with hot groundwater conditions in mechanised mines. The paper is based on specific project experience gained from a number of projects in the United States, Australia and South-East Asia and draws on data from mines that experience hot groundwater conditions. For one site, actual decline temperature survey measurements, modelling techniques, management strategies and design considerations are presented.CITATION:Van den Berg, L and Bluhm, S, 2015. Ventilation planning considerations when dealing with hot groundwater, in Proceedings The Australian Mine Ventilation Conference, pp 211–218 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Aug 31, 2015

By S Barrow, D Kent

Controlling the access of equipment, and people, has become more critical over the last few years for improving productivity and to meet safety responsibilities imposed by legislated obligations to have safety management systems. Hence Mine Site Technologies (MST) has spent the last three years completing the development of the tagging system to meet the mining industryÆs requirements, particularly streamlining access control. The basic tagging system tracks active Tags carried by personnel, or attached to vehicles and equipment, within underground zones. These Tags are detected (read) by Beacons placed strategically throughout the mine. As a Tag, or Tags, go past a Beacon they are read and the information transmitted back to the main database PC. This allows the current whereabouts of personnel and equipment to be known, as well as the history of their movements. The objectives of implementing the TRACKER Tagging System at Oaky No 1 Coal Mine were to: maintain a count of personnel inbye a particular point, and can alarm when a pre-set number is reached (eg the limit imposed by availability of SCSRÆs, etc); maintain a count of vehicles (and vehicle type) inbye a point, and can alarm if when a pre-set number is reached (eg when rated diesel units exceeds the limit for the ventilation present in that zone); manage the vehicle fleet, by keeping track of various vehicles underground better control and dispatch management of the equipment is achieved; keep track of equipment, knowing the location of equipment (such as forks, baskets, pumps, fans, etc) where last used or stored will minimise the risk of losing gear and assist in keeping inventory to a minimum; and locate personnel in emergency situations, by placing read Beacons throughout the mine the location of all personnel can be known in real time so that in the event of an emergency, their withdrawal can be monitored.

Jan 1, 2005

By J Nell, J Petersen, X C. Goso

The feasibility of increasing the deportment of titanium species and the stability of the pseudobrookite solid solution (M3O5) in a titaniferous slag was investigated, to facilitate the valourisation of titaniferous slags. Thermochemical simulations using FactSage™ software, ver 8.3 (by Thermofact/CRTC and GTT-Technologies), and equilibration-quench experiments were conducted using an appropriate synthetic titaniferous slag composition in an oxygen partial pressure (pO2) ranging from air to 10-16 atm under non-isothermal conditions. The temperature-pressure phase stability diagram for the synthetic slag containing 37.19 per cent TiO2, 19.69 per cent SiO2, 13.12 per cent Al2O3, 16.00 per cent CaO and 14.00 per cent MgO showed that the spinel solid solution (M3O4) was the primary phase until a pO2 of 10-10.5 atm, thereafter M3O5 was the primary phase until a pO2 10-13.2 atm. M3O4 again was the primary phase between a pO2 10-13.2 and 10-16 atm. The changeover of the primary phase coincided with an increase in the liquidus surface. When cooling the slag in a pO2 of 10-16 atm, M3O5 crystallised as a ternary phase that showed a rapid increase in mass while that of the primary M3O4 phase decreased and that of the secondary perovskite (CaTiO3) phase increased at a slower rate. At 1300°C under sub-liquidus conditions, the contents of M3O5, M3O4 and CaTiO3 were about 20 per cent, 15 per cent, and 11 per cent, respectively. Experimental results showed that the Ti3+/Ti4+ mass ratio in the M3O5 phase, ie a measure of the reduction of titanium species, is not considerably sensitive to equilibration temperature in the reviewed range. Slow cooling and minimum/no oxidation during cooling of titaniferous slag would increase the deportment of titanium species to, and the growth and stability of the M3O5 phase.

Jun 19, 2024

By T Rohde, P Defferrard

In 2010 a store and release cover (the cover) was constructed on the south waste rock dump (SWRD) at Century mine. This also included aerial seeding of province native trees and shrub seeds. The purpose of the cover is to reduce percolation into the potentially acid-forming (PAF) waste rock by maintaining a compacted reduced permeability layer (RPL) at near-saturated conditions. This is achieved by overlaying the RPL with a 1.5 to 2 m thickness of soil-mulch. The soil-mulch has a hummocky final surface that captures rainfall, so it does not runoff, allowing it in part to infiltrate, with excess water removed by evaporation and transpiration. The RPL is the trafficked surface of the SWRD.The unsaturated behaviour of the cover is being monitored by instrumentation including volumetric water content and matric suction sensors and a weather station capable of estimating evapotranspiration. The instrumentation allows for direct measurement of infiltration into the cover, storage of rainfall, percolation through the base of the cover and in situ soil water characteristic curves (SWCC).The key functions used to describe the unsaturated behaviour of the cover materials is the SWCC and the unsaturated hydraulic conductivity function. The SWCC is a plot of soil water versus soil suction. It provides the loci of moisture states of a soil from the saturated to the dry state.The paper presents the results of five years of monitoring. It shows that total infiltration into the top of the SWRD was about 1.6 – 3.7% of cumulative rainfall over five years, with most of the infiltration going into storage within the cover. Runoff from the top of the dump is not allowed therefore, the remaining 95% of the total rainfall was lost to evaporation or as lateral flow when infiltration reached the RPL. The paper presents some simple analyses of the wetting by rainfall infiltration of the cover, leading to breakthrough at the base. Field data are used to support the analyses.Presentation of the SWRD water balance is also included in the paper using SVFLUX™GE which is a finite element model that simulates water transport through a saturated or unsaturated medium.CITATION:Defferrard, P and Rohde, T, 2018. Five years of cover performance monitoring and modelling for a store and release cover at Century Mine, in Proceedings Mine Waste and Tailings Stewardship Conference 2018, pp 179–189 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Jul 23, 2018

Unnamed early prospectors panned gold from creeks drain- ing the Great Dividing Range in the early part of 1851. The first publicised discovery was credited to Edward Hargraves near Bathurst in New South Wales later in 1851 and during the ensu- ing gold rush, prospectors rapidly made discoveries elsewhere in New South Wales and later across the border in Victoria. Reference to the attached graphs of gold production indicates that for much of the first 100 years, gold production came from the easily worked and readily discovered shallow alluvial deposits, many of which were located in the creeks draining mountainous regions of Victoria, New South Wales and Queensland (Fig. 1 and 2). As these deposits were exhausted, prospectors turned their attention to outcrop lode deposits which led to the development of underground mining techniques and a significant boost in over- all gold production. With the discovery of the rich Golden Mile lodes in Kalgoorlie in 1893, gold production increased signifi- cantly and peaked around the turn of the century. At that time, the enormous potential of the great Witwatersrand deposits in South Africa had only just been appreciated and for a few years, Australia led the world in gold production (1855-1863 and again in 1903). Underground mining continued in the Eastern Goldfields area of Western Australia, the Bendigo-Ballarat region of Victoria and in northeast Queensland. Very few of these operations continued beyond the Second World War, except the larger producers in the Kalgoorlie region where recovered grade had dropped to about 6 g/t Au. By the early 1970s with the gold price fixed at US$35 per ounce, most of the operations were shut down as labour costs escalated, with only the low cost bulk mining operation at Mt. Charlotte and the high grade reefs at Norseman continuing in Production.

Jan 1, 1988

Higher commodity prices and environmental considerations will make selective narrow-vein mining more attractive in future. Unfortunately, hand-held airleg (jackleg) mining is a mature technology that has safety and productivity limitations. Despite decades of attempted innovation, no obvious successor to airleg mining has emerged. A review of some of the possible technologies is followed by a speculative description of the mine of the future, intended to stimulate thinking and discussion during the conference.

Jan 1, 2008

By G Bournival, Y Pan, S Ata

A custom-made set-up that measures bubble coalescence time and the thin film balance (TFB) technique were used to explore the role of residual xanthate (potassium amyl xanthate, PAX) and salt (NaCl) on the adsorption of two frothers (methyl isobutyl carbinol-MIBC, and di-propylene glycolDPG) at the air-water interface. This paper is primarily focused on the comparison of these two techniques in studying the interaction between the flotation reagents and salt emphasizing their capabilities and limits. The results from the coalescence rig showed that the presence of PAX improved the stability of bubbles in both frother solutions and led to a bubble coalescence inhibition at 50–500 ppm DPG. These measures were compared with the results from the TFB. Findings from the TFB were overall in good agreement with the bubble coalescence time, but a higher stability level was observed in thin films under the same condition. The effect of salt on the frother and PAX mixture was also explored, and the results showed an adverse impact of the salt on the interaction of frother and PAX with both techniques. However, variations were found between them in some cases. The TFB is much more sensitive to the presence of dissolved gas and oil droplets.

Aug 24, 2022

By J C. Koppe, L Vieira

One common problem for blasting in iron ore mines with significant weathering is the occurrence of large blocks of hard rock mixed with softer material. This situation causes a problem for blasting design and sometimes produces large boulders of rock that require a secondary blasting, as well as excavation difficulties. To minimise this situation, geophysical techniques were used to identify the hardest material amid the weathered material. To study the problem, seismic, ground penetrating radar (GPR), electrical resistivity and induced polarisation (IP) methods were used in an intensely weathered Brazilian iron ore deposit. The methods of GPR combined with IP, resistivity and seismic showed to be effective in modelling the contrast among hard, friable materials and soil. The results were used to improve the geological model and create more favourable conditions for the subsequent blast design. The blast design based on geophysical/geological models resulted in significant improvement in the fragmentation of the iron ore. This was achieved by the adoption of a specific drilling pattern for a given geological situation. With the new specialised blasting design the formation of boulders was eliminated.CITATION:Vieira, L and Koppe, J C, 2015. Geophysical techniques applied to blasting design, in Proceedings 11th International Symposium on Rock Fragmentation by Blasting, pp 289–294 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Aug 24, 2015

By G W. Swana

Elastoplastic parameter is a parameter that describe how much materials behave elastically up to certain stress states and plastically thereafter (Hudson and Harrison, 1997). In the continuum analysis, two main parameters of the elastoplastic parameter are modulus elasticity and Poisson’s ratio. In the slope, elastoplastic parameter holds the main role for stability related to deformation in ductile type of rock. There’s a limitation to determine elastic or plastic deformation at the field for ductile rock type. Field manifestation commonly showed that there was no accumulation zone during and after the sliding failure mechanism, in other hand, at the research area, manifestation of deformation at the toe of slope only indicated by bulging shape. This paper will focus at the sliding failure occurred at Coal mining Pit Y owned by Arutmin Indonesia, which according to failure investigation report similar with the condition described above. This paper also will be based on two hypotheses, first hypothesis is claystone rock mass has not been reached plastic deformation yet and the second hypothesis is there is a chance that elastoplastic parameter of the rock mass has been changed during the deformation/sliding failure process. Research method of this paper are back analysis using probabilistic analysis in Finite Element Method (FEM), which conducted before and after failure. Then, the result of the displacement or deformation of the analysis will be checked with the actual deformation shape. Meanwhile, the change of the elastoplastic parameter will be analysed and interpreted. This paper hopefully able to be developed to study about elastoplastic behaviour of rock mass in actual condition and the influence of another uncertainty factor which determine the slope stability.

Nov 29, 2022

I have headed this paper with a question and for the impatient among you ûthe answer is no we have not run out of developments but, and it is a big æbutÆ, we need to be innovative and ahead of the game or ænoÆ will be æyesÆ before we know it.Why do I believe that our future lies in innovation? Thirty years ago, knowledge doubled every 14 years. It is now doubling every seven years. In 1965, Gordon Moore, one of the founders of the chip maker Intel, made an observation that growth in memory chip performance is doubled every 18 months which became known as MooreÆs Law. Now there is fibre law, where the transmission line capacity doubles every nine months and storage capacity, under disc law, doubles every 12 months. What does this mean? Well, firstly there is a massive rise in information flow and availability with no limits in growth for at least the next ten years. Secondly, unlike our grandfathers, we are most unlikely to be employed by the same firm for our working career - we may not even have the choice to stay with the same company. In a phenomenon Richard Foster and Sarah Kaplan (2001), borrowing from Schumpeter, termed æcreative destructionÆ, companies are unable to sustain market-beating levels of performance for more than ten to 15 years. In the 1920s the turnover rate of companies in the United States was 1.5 per cent, so a company could employ almost three generations from the one family. A company had a half life of 60 years. In other words, you could well be in the same working environment as your grandparents. Today the churn rate is estimated to be eight to ten per cent. A company has a half life of five to six years. So for large companies, as an employer or employee or as a contractor, your working environment has a 50 per cent chance of changing in five years. Innovation is the driver of this rapid rate of change. Innovation is not for the faint hearted (Cutler, 2001) but it is the core for success in the global economy. The rate of change in our world is not going to decrease. We must learn, not only to manage change, but to enjoy the process of changing û to ride the tsunami of the knowledge economy.

Jan 1, 2002

By H Kim, J Park, J Lee

Silico-ferrite of calcium and aluminium (SFCA) is a bonding phase in the iron ore sinter. The phase transition upon melting of SFCA was investigated with Differential Scanning Calorimetry and Confocal Laser Scanning Microscope. The initial melting of SFCA occurred at 1183.2°C and a massive melting was found at around 1351.1–1358.2°C. A phase transition-melting was investigated at 1476.5–1478.7°C. The liquid phase was composed of immiscible phases. The present results would be utilised to design a new iron ore sinter for better processing performance in a hydrogenenriched ironmaking process.

Jun 19, 2024

A study was conducted to evaluate the effectiveness of the three types of sample grinders routinely used in the mining industry for the sample preparation of gold ores with particular emphasis placed on testing their capacity to produce a representative assay sample of coarse gold ores. The grinders used in this study are the Labtechnics LM5, the Mixermill 4010 ringmill and the Keegor vertical spindle pulveriser, commonly called a Keegormill. The study was based on the preparation of samples from two sources of known coarse gold ore, the Union Reefs Gold Mine and the Brocks Creek Gold Mine in the Pine Creek region of the Northern Territory of Australia, and a fine gold ore which was from the Macraes Gold Mine in New Zealand. The Union Reefs Mine contains visible coarse gold with 30 per cent to 40 per cent of the gold in the plus 75 μm fraction of milled ore. Discreet particles up to 5 mm have been recorded, Hellsten (1994). Union Reefs Gold Mine recovers 40 per cent of its bullion production through a gravity circuit, Riches (1997). Brocks Creek ore contains visible coarse gold with gravity bullion production fluctuating between 50 per cent and 65 per cent, depending on the mill feed. Average gravity bullion production from the Brocks Creek Mine is 55 per cent, Wilke (1997). The average gold grain size of Macraes Mine ore is 20 μm with 40 per cent of the gold in sub 10 μm particles. No gravity bullion is produced from the Macraes Mine, O'Keefe (1997). The testwork demonstrated conclusively that it is possible to prepare a representative sample for assay, of a coarse gold ore, when a Keegormill is used to pulverise the sample to a nominal 100 μm particle size (90 per cent passing a 100 μm screen by wet sieving). Both the Mixermill and the Labtechnics LM5 failed to prepare a representative sample, even when ground to a nominal 75 μm particle size.

Jan 1, 1998

This paper describes the new iron and steelmaking process recently commissioned at NZ Steel. Ironsand mined and concentrated at Waikato North head is slurry pumped 18 km to the company's Glenbrook works. Ironmaking includes the direct reduction process pioneered at Glenbrook in the 1970s and a new continuous electric melter. The molten, high carbon pig iron produced is then fed to a vanadium recovery unit and on to the KOBM oxygen steelmaking vessel. Steel is cast into billets or slabs. The new plant, which is the first stage of a fully integrated works at Glenbrook, raises New Zealand Steel's production capacity from 150 000 t/y to 750 000 t/y.

Jan 1, 1986

There are still vast areas of Australia in which either the hydrocarbon potential has already been indicated but from which no hydrocarbons have been produced or else are completely untested. Despite the lack of recent new oil discoveries, it is anticipated that initial gas discoveries in these areas will be followed by oil discoveries as has happened historically. General exploration activities are continually providing new information that is being input to update previous hydrocarbon assessments for Australia, and all indications are that future exploration efforts will discover a lot of gas, some small oil pools and there is a chance to prove a major new oil province. Because of this, it is anticipated that reserves growth will continue at the average historical rate of about 200 MMB/year until the year 2000. The most frequent scenario will be costly exploration resulting in small oil discoveries and high development costs. This, in the past, has resulted in low profitability for Australian oil exploration, but windfalls for the Australian government.

Jan 1, 1981

By Baker G

The detailed mineral composition of the lead-zinc ores at Captain's Flat was first studied in 1942 (Edwards, 1943).At that time the workings did not extend far below the 750ft. level. Since then development has been extended to the 1,390ft. level, and -at the request of the management of Lake George Mines Ltd., an examination of the ore from the deeper levels has been made as part of the research programme of the Mineragraphic Section of the Commonwealth Scientific and Industrial Research Organization.This account is. based on that examination (Mineragraphic Rept. No. ,537, C.S.I.R.O.)GENERAL GEOLOGYThe geology of the Lake George Mines has been described briefly in The Geology of Australian Ore Deposits (1953), and in much greater detail in an unpublished report by K. Glasson (1952). The area consists of fossiliferous Upper Ordovician sediments overlain by volcanics (Kohinoor VoJcanics), and by fossiliferous Silurian sediments. The volcanies comprise a series of· flows ranging in' composition from dacite to rhyolite, with interbedded tuft's and shale lenses.The region has been strongly folded. The regional strike is from 340° to 355°, and dips are from 75°W. to 75°E, A major syncline, pitching 200 N., occupies the centre of the area. The Kohinoor Volcanic'l outcrop as two bands which represent the east and west limbs of this syncline.The Volcanks in the western limb, with whIch the orebodies are associated, are more strongly sheared than those in the eastern limb.

Jan 1, 1953

By L C. P J Fonteneau, B Godel, E R. Ramanaidou

The Hamersley Province in Western Australia hosts large iron ore deposits. Each deposit displays various iron ore types that were defined on their metallurgical properties, especially in terms of porosity and mineralogy. Conventional porosity and mineralogy information on iron ore types are provided on 2D thin sections using automated image analysis with scanning electron microscopy (SEM)-based techniques combined with chemical analyses. However these techniques cannot accurately quantify the 3D porosity. High-resolution X-ray computed tomography (HRXCT) is a non-destructive technique providing a 3D image of the sample with a resolution close to 0.5 - 0.7 ¦m for samples size of up to few centimetres in length. 3D image analysis using customised algorithms now provide accurate quantitative porosity and mineralogy of iron ore types.CITATION:Fonteneau, L C P J, Godel, B and Ramanaidou, E R, 2013. Application of high-resolution x-ray computed tomography to iron ore characterisation, in Proceedings Iron Ore 2013 , pp 243-250 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Aug 12, 2013

By A Cooper

The current financial climate has given rise to fears that falling mineral prices and tight credit will force mining companies to cut back on production and new project development in a bid to cut costs and conserve cash. However, a prolonged squeeze on global supply can have only one result: a massive and potentially explosive demand for metals in the not-too-distant future. A resurgent global economy will also generate dramatic new demand for oil and energy, with a return to higher oil prices likely. How then should the mining industry plan for the future? In-pit crushing and conveying (IPCC) could lead the way as a partial or complete substitute for trucks. In 13 of 15 studies undertaken by Sandvik and Snowden, comparing IPCC with truck-optimised pit designs, IPCC generated operating savings ranging from US$0.18 to US$0.82 per tonne moved, compared to trucks. Trucks have higher operating, maintenance and energy costs than conveyors. New emission standards on diesel engines may make them more emission friendly but less efficient in terms of energy usage. With far more efficient energy use and cheaper operating costs per tonne moved than trucks, conveying offers an attractive alternative for the bad times ahead and into the apparent energy depleted future. When evaluating alternatives, a reasonable first step would be to conduct a scoping level study which analyses the differences in capital and operating costs between a truck and shovel operation and an IPCC solution. The study can also determine what type of IPCC is best suited to the particular mining application. The results can then be used to decide whether a more detailed study is justifiable. IPCC is a proven process that, with a fresh mindset, can make a significant improvement to mining operations. Sandvik (as an OEM with a full suite of IPCC equipment) can undertake these studies in ten working days in conjunction with Snowden or any other independent mine planner who knows how to schedule for IPCC. Because most mining industry personnel have been æborn and bredÆ on trucks and shovels û this paper focuses on some of the practical considerations necessary to make IPCC systems work that the Sandvik Technical Services Group has encountered during these studies.

Jan 1, 2009

THE plant is one of the usual type of Mond plants, and contains no new features worthy of comment. A brief description of the process, however, with a few remarks on the working of the plant, may prove of interest.Producer gas is made by passing a mixture of air and steam through incandescent carbon contained in a furnace called a producer, which, in the Mond type, is a cylindrical casing of steel plate, lined with firebrick, and fitted at the lower end with sloping fire-bars'. Coal crushed to an even size (about 2-in. gauge) is elevated to bunkers over the producers, from which it is fed into a measuring hopper on each producer.The hopper is a cast-iron cylinder fitted with a swing cover at the top and a bell valve at the bottom, worked by a lever and balance weight. When a charge of coal is run from the bunker into the hopper, the cover is closed, and the bell valve is lowered, allowing the coal contents to drop into the producer. Thus no gas can escape from, or air be admitted to, the producer during the process of charging. The hopper discharges its coal through a steel pipe-shaped container called the bell, which projects about 9 in. through the roof of the producer. The function of the bell is to spread the coal evenly over the fire, and supply coal to any portion of the fire as it settles.

Jan 1, 1918

By G Reynolds, N A. Ware, L Lu

Queensland Pacific Metals (QPM) is progressing its Townsville Energy Chemicals Hub (TECH) project to produce nickel and cobalt sulfates for advanced battery materials. Apart from the nickel and cobalt sulfates, the process also generates a hematite by-product (~640 ktpa). The hematite byproduct precipitated from the process, hereafter ‘hematite precipitate’, is high in Fe and particularly low in impurities. However, it is a fine <20 μm crystalline, hydrometallurgical precipitate and is produced as a filter cake containing a high moisture content of about 15 per cent. This is considerably different from natural hematite ore and is expected to change its performance during sintering. In the present study, laboratory scale sintering tests were undertaken to evaluate the potential impacts of substitution of the hematite precipitate for traditional magnetite concentrates and further for Australian hematite-goethite ores in a simulated industry base blend. Substitution of hematite precipitate for magnetite concentrates was found to slightly increase the sintering temperature required to achieve the strength of laboratory sinters. However, further substitution of hematite precipitate for Australian hematite-goethite ores slightly reduced the sintering temperature required to achieve the laboratory sinter strength. These results reflect the reduction in Al2O3 contents of the blends and are consistent with the trend observed in industry and pilot scale facilities. The reduction in sintering temperature generally correlates to a reduction in fuel rate in the larger scale sintering process. The pore structure of selected laboratory sinters was further examined and discussed in conjunction with sinter strength. The pore structure images highlighted the relative difference between the blends with the most obvious difference being seen at 1290°C which correlates well with the laboratory tumble index (TI). The laboratory sinter samples showed an increase in porosity and irregularity of pore shape, as hematite substitution increased demonstrating the correlation between a more porous structure and a lower TI.

Sep 18, 2023

Thank you for the opportunity to speak at this important conference attended by aspiring mining professionals, some of whom will become the leaders of the mineral resources industry that forms the solid foundation of AustraliaÆs past and that will fuel the exciting growth of AustraliaÆs future.I want to briefly touch on the history of our business, then look at the opportunities that exist in the contract mining industry and finally comment on what the educators need to consider in their curriculum to meet the needs of our business. Byrnecut started out as an idea in early-1987 developed by a group of four mining people. At the time the industry was on the high end of a mining boom, the era of the Bonds, Connels, Skases and so on. Riding on this wave of euphoria we borrowed $600 000 from the National Australia Bank and, without having enough knowledge to lose sleep over the potential risks, started business in mid-1987. The euphoria quickly evaporated with the 1987 October stock market crash. The bank pulled our overdraft, equipment finance rates increased to over 20 per cent per annum and my house was mortgagedseveral times over. The business learning curve was extreme for a young mining engineer who had developed his trade in the relatively sheltered environment of a large public mining house, namely WMC. We were somewhat bitter that the banks had done a runner. We were a private company, backing the business with personal assets with our shoulders to the wheel, whilst the Bonds of the world had theirnoses in the trough ripping off mum and dad shareholders. All of this had a sobering effect, namely keep your feet on the ground, stick to the knitting, work hard and worship cash flow. Since that stressful but adrenaline pumping beginning the company now employs over 600 people and is now working for major mining houses at over a dozen locations in Australia, east Africa and WesternEurope and the National bank is again our banker. On this basis I consider myself qualified for the subject of this speech.

Jan 1, 2002