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By J Crosbie, M Lord, R Bitencourt, P Defferrard

The MMG Century mine, which is the largest zinc/lead mine in Australia, began operating in 1999 and ceased mining from the open pit in July 2015, with processing completed in early 2016. Closure plans were developed from 2006, and detailed planning for closure commenced in early 2011 with the appointment of a dedicated closure planning resource. The site will continue to be managed during the active and passive closure phases to complete rehabilitation commitments and demonstrate that closure completion criteria have been achieved.Completion of the mining/processing phase of the project provides an opportunity to reflect on successes, missed opportunities and lessons learnt with respect to planning and execution of mine closure. This paper highlights examples of success at Century and also identifies key learnings and areas for improvement in progressive closure outcomes. Specific examples examine mine planning and execution involving bulk movement of waste rock and construction of permanent waste encapsulation landforms. The paper also provides recommendations for other sites that are planning for closure.Decisions made during the operational phase of the project life can result in a significant increase in closure liability and reduce the likelihood of achieving lease relinquishment. Likewise, it is of paramount importance to assess the consequences and thoroughly understand the risks associated with changes or deferral of closure plans, progressive rehabilitation targets and closure related key performance indicators.CITATION:Lord, M, Bitencourt, R, Crosbie, J and Defferrard, P, 2016. Closure planning lessons Learnt from the Century mine, in Proceedings International Mine Management Conference, pp 207-216 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Jun 22, 2016

By D Price

Mining at the Tuckabianna Mining Centre in the Murchison district of Western Australia ceased in 1997, after the production of 550 000 ounces of gold at an average grade of 2.5 g/t from 22 separate open pits (Tectonic Resources, 2006). Like many historic mining camps in WA, Tuckabianna was considered exhausted of gold, such that an economic project could not be sustained on the existing resources. Since 1997, three separate companies have owned the Tuckabianna leases. Each of these companies completed minor exploration and some form of mining study to determine if mining could be sustained. All three companies concluded that the remaining resources were insufficient to support an economic project. Silver Lake Resources acquired the adjacent Tuckabianna, Comet and Moyagee projects in 2007 with a combined resource base of 693 000 ounces of gold in 11 separate deposits. In September 2009, Silver Lake commenced exploration in the Murchison targeting extensions to the main resources at the three project centres and completing targeted regional exploration across the lease holding. At the same time, a detailed evaluation of all historic drill data was completed and all resources re-estimated. This has culminated in the resource base increasing to 1.5 million ounces of gold in 20 separate deposits, with two new discoveries being made. In August 2010, a mining feasibility study was commissioned. Preliminary results from the study indicate that an economic stand alone project can be sustained for a minimum of five years. The ability to bring the remaining resource from a once unloved project into production is due to a number of factors: historically high gold price, combining adjacent projects into a single operation, evaluation of all resources regardless of size and grade, and well funded exploration directed to both resource extensions and new discoveries. Using the Tuckabianna Project as an example, this paper attempts to outline the strategy Silver Lake used to define the resources to justify the capital expenditure required for production, and give a summary of some of the successes and failures made as the projects progress towards mining. Examples of where being too rigid and over exuberant have resulted in less than optimal use of expenditure are used to high-light the difficulties in exploring in mature terrains. Evaluation of the success of a company’s exploration strategy at all scales from project acquisition to target selection is critical to the success of future project development. This paper has been part of that process for Silver Lake with some interesting discussions and insights being made. It is hoped that some of the points discussed can be applied to other projects to help achieve the best outcome from the assets available to a company.

Aug 22, 2011

Blasts should be designed so as to maximise the percentage of charges which shoot to a free face (Le, to a pronounced rock/air interface).Free faces should be rough, parallel and reasonably near to blastholes and, very importantly, concavely·biplanar relative to the charges (see Fig. 6b). The presence of biplanar free faces requires that each charge fragments and detaches its quota of the burden rock before the detonation of:1. later-firing adjacent charges in single-row blasts, and2. dependent charges in multi-row blasts.In multi-row blasts, biplanar faces are best achieved:1. by drilling blastholes on equilateral triangular grids,2. by selecting a VI, V2 or V3 initiation sequence, and3. by using down-the-hole delays.Biplanar faces start to be created only when the conventional value of effective blasthole spacing/effective burden distance (Se/Be) increases beyond about 2.4. Values of Se/Be less than about 2.4 result in planar free faces. Where biplanar faces are created, conventional values of Se/Be are invalid and appreciably greater than real values of Se/Be.

Jan 1, 1986

Thirty mixed cultures of microorganisms from soil, water and mineral samples from the Groote Eylandt Mining Company mine site were approximately three times more effective in biodegrading manganese dioxide (34± 18 mg Mn++/1/day) than sixteen purified strains (11 ± 10 mg Mn++/1/day) isolated from the primary enrichment cultures. Two pure bacterial genera identified as a Pseudomonad and a Bacillus, with an excess MnOz and nutrient, were able to dissolve 106 mg Mn++/litre/day in mixed culture compared with 29 mg Mn++/litre/day when grown separately.

Jan 1, 1983

By Dunlop GA

Pilot Plant confirmatory testing of the treatment route developed in the Metallurgical Laboratory is an essential factor in the development of complex ore bodies. Objectives should be well defined to permit the efficient planning and cost effective operation of the pilot plant project. The primary objective for the pilot plant should be to confirm the viability of the developed flowsheet on a continuous basis, examining only major variables such as ore types, quantum changes in grind, comparison between bulk and sequential flotation circuits, use of flotation columns, evaluation of autogenous grinding and production of samples of concentrates for market evaluation. Secondary objectives may include the collection of engineering design data and the production of a comprehensive report to Bankable Document standards to provide technical support for capital financing. The complexity of the ore body and the scale of the final operating project together with the pilot plant objectives will determine the extent of the pilot plant operations. The level of expenditure associated with a pilot plant can vary, in total cost and as a percentage of the total development capital investment required to take the prospect from exploration to a producing mine. Factors contributing to expenditure are discussed. Associated with cost considerations is the level of confidence mining company investors can have that their capital investment will return dividends.

Jan 1, 1990

By Arthur A. F, MacKenzie I. H

Copper in zinc/lead sinter charged to the Imperial Smelting Furnace operated by Sulphide Corporation Pty Limited at Cockle Creek, New South Wales, concentrates in a complex lead dross which forms as the bullion is cooled to around 400°C. The 0.35 mm portion of this dross, containing approximatelY 67 per cent of the total copper, is treated via a hydrometallurgical route to produce 5000 tonne/yr of CuSO4 5H2O crystal.Around 3000 tonne/yr of copper-lead dross containing 49 per cent copper is leached at 55°C in continuous leach reactors with ammoniacal ammonium carbonate leach liquors to convert copper to soluble copper amine complexes. Leach ettlciencies of 80-85 per cent are obtained. Leach residues are repulped with ammoniacal liquid diluents from the plant and heated in a four stage steam distillation unit to reduce ammonia levels to between 0.5 and 1.0 g/Iitre. The resultant slurry is directed to an effluent treatment plant for final treatment, and separation and return of solids to the sinter plant.Copper is extracted from leach liquor by solvent extraction techniques based on the use of L1X 54 diluted 3:1 with Shellsol 2046 to give a nominal copper loading of 30 g/litre. The loaded organic is contacted with a sulfuric acid solution of pH 5 to remove the bulk of ammonia and zinc, then stripped at 55°C with a 60 g/Iitre H2SO4 95 g/Iitre copper solution to yield a 15 g/Iitre H2SO4 125 g/Iitre copper solution.This liquor is fed to an adiabatic vacuum crvstalliser operating at 35°C and 5 kPa vacuum where crystals of CuSO4 5H2O are formed. Crystals are separated from mother liquor and washed in a two stage pusher centrifuge, then dried in a hot air rotary drier. The crystal product obtained is of a high chemical purity and readily conforms to both Australian and overseas standards.

Jan 1, 1983

For over 50 years R W Miller & Co Pty Ltd operated old coal properties abandoned by former owners as uneconomic, some of which dated back to the last century. The companyÆs ability to survive with what were relatively poor quality coal resources required a small efficient management organisation. In 1970 R W Miller was involved in negotiations with other coal companies through coal sales contracts to develop private coal areas under the provisions of the old Coal Mining Act (1906) and these efforts led to the development of Lemington colliery. At the same time development of the Ironbark colliery holding near Newcastle commenced. In 1971, R W Miller approached the New South Wales Government for a resource replacement area to prospect for coal in the Upper Hunter Valley. Authorisation No 33 was finally granted on 30 September 1975, but the company found the area was inaccessible as most of the surface was owned by the Australian Army. Later R W Miller was granted Authorisation 66 of 2167.5 hectares at Mount Thorley near Singleton on 1 November 1976. The development of this coal mining project coincided with the second OPEC oil crisis in 1978 and a short-term boom for coal resources and the unrealistic expectations generated by the boom. This paper gives a broad outline of the development of the Mount Thorley project between 1976 to 1986 including the feasibility study and the many governmental and industrial delays that resulted in a three-year time overrun in the project development period.

Jan 1, 1998

It is a great honour to be privileged to address The Institute for a second time as President and I appreciate it more than I can say. Eight years ago in Hobart I tried to cover the development of the mineral industry in Tasmania. That was a general subject. Tonight I want to be more specific - I propose to talk to you about rutile.The choice of subject for a Presidential Address is never easy. One is addressing an informed audience and the best one can do is to try to crystallize a particular subject and to present it in a form that willbe of interest to those who listen.I looked carefully at the addresses given by our Presidents over the past seven or eight years. The titles are impressive, the content excellent, and the length, as published, much greater than I had hoped.It is therefore with some trepidation that I have chosen as a subject one only of the three crystal forms of titanium dioxide. This subject is not as limited as may at first appear.There are two aspects with which I can deal - the mineral itself, which has become familiar as the major product of the East Coast beach sand operations, and the lesser-known "synthetic" product, which is the major pigment in almost all the white paints in common use today, and in cosmetics and white-walled tyres and toothpaste, and even the better types of fine papers. The synthetic form of rutile is' the "whitest"of white pigments.

Jan 1, 1966

Hard rock TBMs are very often open machine layouts, with just a part roof shield over the front of the machine. The whole system is designed for fast face advance and the economy of the project often depends entirely on the rate of advance. Typically, hard rock conditions will demonstrate stable and good ground for a major part of the tunnel. However, short sections of crushed shear zones with clay and gouge material may cause serious time delays. Spiling rock bolting has been proven to be very efficient under such circumstances, provided the fully grouted rebar bolts can be placed in a controlled and practical manner.Environmental restrictions are becoming more and more a part of tunnel excavation projects. Even hard rock TBM tunnelling may require a strict ground water control, because of consequences on the ground surface from lowering the ground water level. Such consequences may be surface settlement, negative influence on ground water resources or damage to vegetation.Pressure injection ahead of the advancing tunnel face (in this paper named pre-injection), using microfine cement and chemical grouts, is today a proven technology. As examples can be mentioned (Garshol, 1997) about 100 km of pre-injected tunnels below Oslo City and about the same length of subsea tunnelling elsewhere in Norway. Examples from other parts of the world are also available, like below Stockholm, Sweden, the Inland Feeder project and Hollywood Metro both in Southern California.To take advantage of spiling rockbolts and pre-injection, it is an obvious prerequisite to be able to drill the necessary boreholes in the right positions and at the correct angle. In drill and blast excavation this is simple, but in TBM projects it has repeatedly turned out to be difficult. More than once owners have accepted bids containing reassurance from the contractor that the drilling method will be sorted out later. Experience shows that if ælaterÆ means after start of the TBM operation, it is often too late.

Jan 1, 1999

Martin Mining and Tunnelling Pty Ltd is a mining contractor with offices in Kalgoorlie, WA, Australia and Timmins, Ontario, Canada.Martin Mining and Tunnelling Pty Ltd offers services in mine contracting which include shaft raising, raise enlarging, excavation of rock passes and ventilating systems. It also offers the mining industry a unique mining method using the Alimak raise climber system.The Alimak raise climber system may be utilised in various types of orebodies, as the system is flexible to change. Sloping widths, drill hole patterns and changes in dip can all be accommodated with this method.This system allows for a highly productive, cost-efficient alternative to conventional longholing methods. This paper will focus on various aspects of the Alimak system which inherently make it a safe, viable method of ore extraction.

Jan 1, 1993

By D Barclay, S Mercer, S Wright

Mine water management is often an afterthought in mine planning processes and can introduce significant risks to projects when studied as a stand alone component at a later stage in the mine design. Incorporation of a mine dewatering and pore pressure dissipation strategy in the early stages of mine planning is imperative in order to minimise constraints on the production schedule, to match designed pit slopes and maximise project value for an open cut mine option such as Olympic Dam. A risk-based mine planning approach was adopted during the project selection phase study whereby water management was introduced into mine planning, scheduling and the development of an operational strategy. Hydrological and hydrogeological studies and outputs were successfully integrated into the various iterations of the mine planning cycle during early selection phase to manage the potential water management risks associated with pit slope depressurisation and access to dry working conditions during rapid advancement of mining phases.An extensive network of vibrating wire piezometer sets and long-term depressurisation testing characterised aquifer conditions and demonstrated that hydraulic connectivity exists within the geological profile due to the presence of structures and resource drill holes which enhance vertical connectivity. This connectivity, along with underdrainage from mining activities contributes up to 100 m of depressurisation in low permeability units.A pit dewatering strategy incorporates the mine planning schedules and accounts for operational constraints as to the location and development of the dewatering wells, storages and pipelines. Numerical modelling generated a range of likely pit inflows and dewatering requirements with the average initial dewatering discharge likely to be 150 L/s and reduce quickly to 50 L/s after five years, depending on the premine schedule.Coupled hydrogeological and geotechnical assessments were also carried out as part of the mine planning cycle and indicate that successful dewatering will go a long way to reduce the pore pressures within key geotechnical units during the rapid mining phase where around 300 m of cover sequence is stripped in five years. However, the residual storage in the primary aquifer and the residual pore pressure in underlying low permeability units will need to be dissipated (in-pit horizontal holes) as the pit floor advances. Pit slope design angles are sensitive to depressurisation and dewatering and up to 70 per cent depressurisation of key geotechnical rock units are required. Whilst an accelerated program of aquifer dewatering supported by lithostatic unloading should drive rapid depressurisation in the lower permeability units, intervention is anticipated in key geotechnical units such as the Tregolana Shale and volcaniclastics. The extent of induced drainage will ultimately depend in part upon the mining rate and geotechnical stability requirements. Practical operability testing addressed the potential for operational constraints to mine depressurisation activities such as congestion and mining schedule development within the pit and identified that depressurisation drilling can be achieved even with reduced access availability. Mine operations and planning groups established design criteria and considered the likely inoperable periods following rainfall events of seven to 14 days to manage the base surge and minimise impact on production. In-pit surface water management options to minimise operational disruptions during and after significant rainfall events were estimated used a stochastic approach.

Jan 1, 2009

By S Watson, L Martinez

Mine projects are complex opportunities that demand a constant assessment of uncertainty, ie risk and upside potential. This is because the value of a mine project is typically influenced by many underlying economic and physical uncertainties, such as metal/mineral prices, metal/mineral grades, costs, schedules, quantities, and environmental issues, amongst others, which are not known with much certainty at the beginning of the project. But, is uncertainty an enemy or an ally of the mine planner/analyst? To answer this question, this paper first assesses and elaborates upon the general concept of uncertainty. It then looks at the different sources of uncertainty in a mining project, such as the orebody, costs and product price uncertainties, and their effect on the final project value. Next, a general?review?of current mine evaluation techniques highlighting their limitations when dealing with uncertainty is made. Finally, an extended evaluation and risk management framework that addresses the existing uncertainty in the (greenfield/brownfield) mine evaluation process is proposed. One important characteristic of this framework is that it uses and manages uncertainty in order to generate additional value to the project; this is done through operational and managerial flexibility, which allow mine planners to minimise/maximise project risk/upside-potential giving a more realistic estimate of the projectÆs market value - this is shown in practical and simple examples occurring at different stages of a mine project, such as exploration and operation. Final conclusions are provided at the end.CITATION:Martinez, L and Watson, S, 2012. Uncertainty - An important source of (additional) value for mine projects, in Proceedings Project Evaluation 2012 , pp 131-140 (The Australasian Institute of Mining and Metallurgy: Melbourne).

May 24, 2012

State ownership of minerals results in domestic legislation regulating mining operations. The mining industry today is dominated by a number of transnational companies, each subject to internal and external pressures for a more responsible approach to resource management. Thirty to 40 major companies are responsible for the bulk of the worldÆs mineral production with the balance coming from state-owned, second tier and junior companies and from artisanal miners.Mining companies operating within competitive commercial environments formerly focussed on mineral production. Companies worked to standards and expectations then current which largely failed to recognise the impact of mining activities on community interests. The mining industry acquired a reputation for arrogance, and for placing profitability ahead of issues considered equally or more important by local communities. Current perceptions continue to reflect disquiet about industry attitudes towards traditional land-owners and access to their lands, to environmental contamination, handling and storage of waste materials, utilisation of water and electricity, and to rehabilitation of worked out areas. Major international mining companies concerned at continuing criticism sponsored a series of initiatives with the objective of providing guidance on working harmoniously within the community. Industry commissioned studies, performed through the agency of disinterested parties, resulted in May 2002, in a Declaration being issued at an International Conference in Toronto. The Declaration was based on, but did not reflect all of the recommendations of the MMSD Report, æBreaking New GroundÆ.This paper considers whether benefits would result from the negotiation of a legally binding and enforceable international protocol encompassing the objectives of the MMSD report or the Toronto Declaration. It attempts to identify the problems associated with implementing and enforcing international mining law, should it be introduced. Aspects of mining operations having cover under customary international law are reviewed, as are rights, obligations and remedies for breaches of national mining law. Conclusions are drawn based on established procedures relating to implementing international agreements. The continuing ability of mining companies to operate within communities will result from each satisfying the communityÆs expectations rather than by complying with largely unenforceable legislation.

Jan 1, 2004

By H Arvidson, C Morley

Reconciliation has become very topical over the last ten years but how do we distinguish what is good practice, and even more importantly, show how it adds value? Reconciliation at Anglo American has received support from the very top of the company and this has enabled success in the design and implementation of a range of processes, reporting activities and actions. Focus has been on full Mine Value Chain Reconciliation (MVCR) from Resource to Product and on proactive cross-functional engagement. A standardised set of reconciliation definitions and relationships are used at all mines across the company to diagnose planning and performance issues. Results are formally presented in an efficient dashboard format, accompanied by a concise narrative to communicate what has been learned and what is being done to correct, improve or change practices. Importantly, effort has also been made to sustain MVCR by embedding good practice and quantifying the benefit of reconciliation explicitly via linking results to value.This paper sets out the lessons learned from the past two-years’ journey, highlighting areas where good practice has been defined and achieved. A ranking for quantifying reconciliation confidence over time is presented as a means of putting results into context and continuously improving the reconciliation process. Finally, a solution to define the value that can be derived from reconciliation is described, detailing how cross-functional personnel meet monthly to review results and implement actions that are tracked in terms of value creation.CITATION:Morley, C and Arvidson, H, 2017. Mine value chain reconciliation – demonstrating value through best practice, in Proceedings Tenth International Mining Geology Conference 2017, pp 103–116 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Sep 20, 2017

By Rayner B

Five wells have been drilled in the Basker/Manta Block of VIC/P19, Gippsland Basin, resulting in sub-economic Intra-Latrobe Group oil and gas discoveries at Basker-1 and Manta-1. A total of 21 individual hydrocarbon bearing sandstones were intersected by the two wells. These reservoir sand bodies were deposited by fluvial processes in a lower coastal plain environment. The modelling of sand body orientation and geometry is a critical component in the evaluation of the two accumulations. Seismic resolution of the thin (average 2 m to 5 m) sand bodies is inadequate for mapping their orientation and distribution. Dipmeter data has been successfully applied to the problem of orienting the sand bodies using FMS images acquired during the drilling of Gummy-1 and reprocessed HDT data from Basker-1 and Manta-1. Prediction of lateral extensiveness (geometry) of individual sand bodies has also been attempted. Interpreted palaeocurrent direction from all three wells is dominantly from the NW to the SE. Reservoirs in the Manta-1/Gummy-1 area are interpreted to be predominantly channel sands, deposited by relatively low sinuosity streams. As such they would tend to have a laterally extensive, elongate geometry. Sand bodies deposited in the Basker-1 area show a predominance of laterally accreted cycles deposited by meandering streams. Channel geometry may then be limited in the downstream/upstream direction by internal permeability barriers such as clay plugs.

Jan 1, 1992

Urban development to the south of Sydney is approaching areas of current and proposed coal mining. Already some structures and residential areas are affected by mining subsidence.Subsidence resulting from either conventional pillar extraction methods or longwall mining has been monitored for 15 years to enable the characteristics of the surface deformation to be determined.The vertical and horizontal displacements of survey stations on the surface are monitored and the results arc used to calculate subsidence, changes in slope of the surface, curvatures along the subsidence profile, and the ensile and compressive strains. These features are in turn related to the underground extraction to give a description of surface subsidence and the development of subsidence with time.Subsidence investigations have been carried out over all or part of the workings of six collieries in the Southern Coalfield.Two case histories illustrate the procedure in the investigation of subsidence phenomena. The first example is the study of the subsidence over a series of longwall panels in one seam and the second is a study of subsidence over pillar extraction in two seams one above the other. From the results of the investigations the effects of panel widths on subsidence are determined.This and other information assists mine planning in areas where surface movement and deformation are important considerations.

Jan 1, 1980

This paper aims to address the issue of the public's image of the extractive minerals industry. What is it about the industry that incites such negative feelings and are they justified? Are we really the 'rapists of the land' that many would have us believe? Has the industry really not improved since the old gold boom days?   I believe that the fundamental cause for the public's view is lack of knowledge and understanding of the industry as a result of the dislocation of the end production from its source. There are few people who look at a house, car, record, toilet, tooth-brush, bottle of coke or pair of glasses and see the mine site that supplied the source material. But the mine site and its products should be inseparably linked. This is one area where we should be educating the public û it is all very well being anti-development but the population as a whole is not really prepared to live without its 'mineral'-derived necessities. It is very easy to say that we do not want minerals development in New Zealand but are we prepared to live with the consequences, ie go without its products? We have a duty as a global citizen to develop our own resources rather than expect Third World nations desperate for overseas investment, often with governments who are not prepared to constrain or control their development, to be exploited. New Zealand is not the only 'beautiful' place in the world and we should be aware of the impact that our demands for resources have on the countries who supply us. We have a duty to be a good global citizen.   So how does the industry improve its public image? The key here has to be to educate. This does not have to be high powered or expensive but can be as simple as getting a few local kids' hands dirty panning, and gaining some firsthand knowledge of the industry. The industry also needs to be more pro-active in the public arena. Yes, the industry has skeletons, but the industry should be publicly displaying them û admit that things have gone wrong but let's do it ourselves and not leave it up to the environmental groups to accuse, point the finger and put the industry under public scrutiny. The industry should also be publicising its successes, inviting the local press, councils, etc to view the latest area rehabilitated. But more than anything else we must tell the public what the minerals industry means to New Zealand. Can they really live without us?

Jan 1, 1991

By Cocquio D. S, Bauchau C

In the course of an integrated airborne survey in 1975, a uranium-molybdenum deposit was discovered by Minatome Australia Pty Limited in North Queensland, Australia, approximately 70 km by road west of Townsville.The mineralization occurs in a welded tuff unit within the Carboniferous St James Vokanics. It is structurally controlled by a complex of subvertical east-west fractures and is exposed over a strike length of 350 m. Drilling has traced a further 150 m extension underneath a barren capping consisting of a thick pile of vokano-sediments. The maximum width of the orebody is 150 m, and its vertical thickness is approximately 100 m.The primary ore minerals are coffinite, pitchblende and molybdenite, accompanied by various alteration products (particularly uranium molybdates).The vein-type mineralization is considered epigenetic.A comprehensive program of surface drilling and underground exploration is in progress to establish the uranium and molybdenum reserves.

Jan 1, 1980

By M Armstrong, S J. Coward, A Galli

Mine management is often expected to make rapid evaluation decisions at different stages of projects based on limited and uncertain data. The challenge is exacerbated by having to distil technical complexity into a financial model that is usually designed to produce only one or two key indicators, eg net present value (NPV), internal rate of return (IRR). Mining is a complex environment with many sources of uncertainty ranging from sampling to economics. In order to optimise investment decision-making, an appropriately structured evaluation framework must be utilised. An evaluation framework should be designed to encapsulate and integrate the complexity across the evaluation cycle, ie sampling, resource estimation, mine planning and treatment, and financial and economic modelling. This complexity is diverse and ranges from sampling support, scale effects to understanding the impact of variability, uncertainty and flexibility on operational efficiency and economic viability. These complexities, combined with time and capital constraints, usually do not allow all facets of evaluation to be integrated into the model. The model must strike a balance between simplified estimation techniques and sufficient incorporation of aspects of the project that will make a material difference to the investment decision. This paper demonstrates the impact of the scale of measurement on the valuation of a mineral project. Comparisons are made between global estimation averages using a top-down approach and local estimates using a bottom-up approach. Three sampling campaigns were conducted on a virtual orebody to compare the relative NPV accuracies. Stochastic forward models were run on foreign exchange rates and are compared with the results from a fixed foreign exchange rate model.

Jan 1, 2006

The nature of the specialty glass and ceramic business magnifies the dependency of the ultimate product on the unique properties of their raw materials used to make them. This dependency has implications in the management of risk in the supply process which requires a special procurement organization and program commitment to be successful. The Coming system of managing critical materials and factors in development of alternate new suppliers and products is discussed.

Jan 1, 1989