Search Documents

By S. C. Greeff

At ISCOR the quantitative determination of the structural properties of coke is done with a Leitz-TAS Image Analysis System. A reflected light microscopic image of a coke sample is converted into a binary image and stored in computer memory or on hard disc. By means of mathematical and stereological techniques the system can transform the images electronically. A lightpen can be used to determine the sequence of these operations. TASIC, which is based on BASIC language, is used as the program language on the computer. The majority of the programs are written by the user to ensure satisfactory results for specific studies. The computer controls the whole system, including the movement of the microscope stage, focusing, transformation and measurement of the image and data processing. The computer is also applied for establishing statistical correlations between the structural and other coke and coal parameters as well as for graphics and predictions of the coke structure. Factors affecting the structural properties of coke are discussed and conclusions are drawn.

Jan 1, 1987

By R. Ciccu

This paper examine the optimization of a beneficiation plant for recovering marketable barites from crude ores of different characteristics. The plant, part of a mining complex in Sardinia, consists of a jig section integrated with a flotation line. The problem has been studied using a suitable model of the process, based upon experimental and field data pertaining to both the characteristics of the feed material and the performance of machinery. Data have been automatically processed with the aid of a computer to find the optimum setting of each section, in order to maximize profit for each kind of ore separately fed to the plant. Moreover, the advantages of blending the various concentrates - not all of them individually marketable - are also demonstrated. The overall economic result can be improved provided suitable proportions of each kind of ore are fed to the plant. Such information is fundamental for the long-term planning of exploitation of available reserves, and provides guidelines for further prospecting. The paper illustrates the washability characteristics of the ore's and describes in detail the model adopted. The results of data processing are then presented in the form of computer graphs and discussed. Finally, conclusions are drawn regarding the advantages of resorting to Operations Research as an aid to management.

Jan 1, 1987

By A. Montini

The problems encountered in the design of control systems for milling cir- cuits when the model of the system and the model parameters are uncertain are discussed. Considering these uncertainty factors has led to the development of a technique that gives a quantitative assessment of real system stability, reveals the trade-offs between performance and stability and helps the designer in deciding what level of model complexity to use in the controller design. Furthermore, it allows for on- or off-line optimization of the milling circuit performance as it provides the base for the design of a controller which is stable over the plant operating range.

Jan 1, 1987

To the trustees of The SAIMM Scholarship Fund We have audited the annual financial statements of The SAIMM Scholarship Fund set out on pages 587 to 592 for the year ended 30 June 2005. These financial statements are the responsibility of the trustees. Our responsibility is to express an opinion on these financial statements based on our audit. Scope We have conducted our audit in accordance with International Standards on Auditing. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes: examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements, assessing the accounting principles used and significant estimates made by management, and evaluating the overall financial statement presentation. We believe that our audit provides a reasonable basis for our opinion. Audit opinion In our opinion, the financial statements fairly present, in all material respects, the financial position of the trust at 30 June 2005 and the results of its operations and cash flows for the year then ended in accordance with South African Statements of Generally Accepted Accounting Practice.

Jan 1, 2005

By SAIMM SAIMM

To the members of The South African Institute of Mining and Metallurgy We have audited the annual financial statements of The South African Institute of Mining and Metallurgy set out on pages 575 to 586 for the year ended 30 June 2005. These financial statements are the responsibility of the Institute?s Council. Our responsibility is to express an opinion on these financial statements based on our audit. Scope We have conducted our audit in accordance with International Standards on Auditing. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes: examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements, assessing the accounting principles used and significant estimates made by management, and evaluating the overall financial statement presentation. We believe that our audit provides a reasonable basis for our opinion. Audit opinion In our opinion, the financial statements fairly present, in all material respects, the financial position of the Institute at 30 June 2005 and the results of its operations and cash flows for the year then ended in accordance with South African Statements of Generally Accepted Accounting Practice.

Jan 1, 2005

By C. G. Goncalves

The Gautrain rapid rail link project is currently Africa?s largest infrastructure project connecting South Africa?s major airport (OR Tambo), Johannesburg and Pretoria. Phase one is planned for completion in time for the 2010 FIFA Soccer World Cup and involves 80 km of track and 15 km of underground tunnels. The key shaft sinking blasting issues revolve around maximising advance and improving blasting cycles to meet the tight deadlines as well as environmental control which, in some cases takes place only 15m from the city infrastructure. To achieve success, DetNet South Africa supplied a range of electronic detonator systems to cater for the different blasting applications involved (tunnels, portals, shafts and viaduct foundations). One such product, QuickShot, was used for the first time in a major civil engineering project and has been used in most of the shaft sinking blasts to date. The QuickShot system combines pre-programmed electronic detonators with special on-bench components that enable the user to quickly and easily design the firing sequence solely by using the order of connections. This precludes the user from having to deal in absolute delay times. The connecting system enables benches to be hooked-up speedily by multiple users who have differing levels of experience. This paper provides details of how, after 33 months, the system has been embraced by the project by aiding in maximised advances, improved cycle times and meeting the required environmental constraints.

Jan 1, 2009

By J. Martinovic

The large proportion of gangue minerals present in platinum bearing ores in South Africa provides challenges to the flotation and down stream processes. In order to take effective measures to reduce their recovery in flotation an understanding of the mechanisms and factors influencing their behaviour is needed. Typical gangue minerals are pyroxene, feldspar, quartz, chromite and talc. Of these, talc is a naturally hydrophobic mineral and although it is present in relatively small quantities, it has a disproportionate effect as it has a strong froth stabilizing effect, increasing the recovery of other gangue minerals by entrainment. Talc recovery is effectively reduced with the addition of polymeric depressants. Although the other gangue minerals are assumed to be hydrophilic and their recovery by entrainment is expected to follow the water recovery, there is some evidence that they may be activated by the typical reagent suites used. Reagents such as copper sulphate, added as an activator, and collectors are used to selectively induce hydrophobicity on the sulphides. It has been shown that some of these gangue minerals can be activated. This research work investigates whether inadvertent copper activation is mineral specific and evaluates the mechanisms and factors affecting the reversal of activation with the addition of the depressants using electrokinetic measurements, adsorption and microflotation tests. Results are presented that show that the selected minerals do respond differently and that the reversal of activation is dependent on mineral type, depressant type, dosage and ionic strength of the electrolyte.

Jan 1, 2004

By J. P. Hoffman

In 1988 the Japan Iron and Steel Federation started a research-and-development programme known as DIOS (direct iron-ore smelting). Eight Japanese integrated steel producers and the Coal Mining Research Centre, subsidized by the Ministry of International Trade and Industry, are involved in the project. The aim of the programme is to have a 500 v/d pilot plant for the production of iron via an oxygen-coal in-bath smelting converter in operation by mid 1993. The three main components of the DIOS process are as follows: ?a fluidized bed for the pre-reduction of iron-ore fumes ?in-bath smelting reduction in a converter ?off-gas reforming by the addition of coal fines. The main drive is to provide a smelting process that is more energy-effective, using coal instead of coke and/or electricity. The advantages claimed include inter alia ?direct use of fine iron ore ?direct use of non-coking coals-low coal consumption ?low capital expenditure-replaces costly coke ovens, agglomeration plants, and the blast furnace ?economical production on mini-plant scale ?less of an impact on the environment. This concept of 'direct steel has been carried over to the production of stainless steel direct from the ores, again bypassing such energy-intensive units as the submerged-arc furnace for the production of ferrochromium. A number of Japanese companies have indicated a certain amount of success. Several interacting elements are recognized that could have a productivity-limiting aspect. The possibility of the direct production of stainless steel from chromite is discussed briefly with reference to the Highveld of the eastern Transvaal as a possible site for such a plant

Jan 1, 1992

By R. Singh, A. K. Dhawan, M. Dixit, H. Dev

ABSTRACT: The modulus of deformation of rock mass is an important engineering parameter required for the design of foundation of hydraulic structure and to study the interaction of rock mass and the structure at the foundation support. Different equipment and techniques are used to arrive at the design modulus value. Since any error in the estimation of modulus values results in multiplication of its effects in the analysis, it is necessary to know about the reliability of testing equipment and procedures. In the present study modulus values obtained by different in-situ equipment at different project sites have been compared. KURZFASSUNG: Der Verformungsmodul von der Felsenmasse ist technisch ein wichtiger Parameter, den man zur Konstuktion des Grunds fuer die Hydro – Tektonik, benoetigt um auch die gegenseitige Beeinflussung der Felsenmasse und der Tektonik am Traggrund zu betrachten. Verschiedene Geraete und Methoden werden angewandt, um den Ausfuehrungsmodul -Wert zu erreichen. Es ist erforderlich, die Zuverlaessigkeit der Pruefeinrichtung sowie des Verfahrens zu kennen, da irgend ein Fehler in der Abschaetzung von Modulwerten in der Analyse zu einer Vervielfachung ihrer Einwirkung fuehrt. In der vorligenden Arbeit werden die Modulwerte gewonnen aus unterschiedlichen Einrichtungen an Ort und Stelle and verschiedenen Projekt -Stellen mit einander verglichen. SOMMAIRE: Le module de deformation d’une roche est un parametre important pour la conception et realisation des ouvrages hydrauliques ainsi que pour etudier l’interaction de la roche et de la structure d’appuis de base. De divers equipments et techniques sont employes pour determiner la valeur de ce module de conception. Puisque l’effet d’une erreur d’evaluation du module devient multiplie dans l’analyse, il est necessaire de savoir la fiabilite des equipments et des methods qu’on ulilise. Dans cette etude, on a compare les valeurs des modules obtenues en employant les equipments in-situ aux sites differents de projets.

Jan 1, 2003

By J. H. Bulloch

A study of fatigue-crack growth in a rail steel and an associated weld metal showed that fatigue cracks in the deformed rail steel had slightly higher growth rates than in undeformed rail steel. The crack growth in the weld metal was appreciably faster than either and exhibited plateaux that were above the upper bound reported for rail steels, The cyclic-life curves showed that, over an indicated service period of 8 years, both the deformed and the undeformed rail steels should not be prone to fatigue failures under the defined mechanical conditions, For the weld metal, the cyclic-life curves indicated the possibility of premature fatigue failures but, as al the input parameters represented a 'worst case' situation, this assessment could wel be ultra-conservative. In the rail steels at low levels, the extension of the fatigue cracks occurred by ductile striated growth. At a Kmax level of 35 MPa .J/n, cleavage facets formed initially on the surface of the fatigue fractures, and their incidence increased with Kmax until the onset of fast failure, The microstructure of the deformed rail steel exhibited cleavage facets at a slightly lower Kmaxvalue, and contained more cleavage facets at a given K level, than the microstructure of the undeformed rail steel. The average size of the cleavage facets agreed well with the pearlite nodule dimensions of 60 to 100 ILm. The microstructure of the weld metal was much coarser and contained columnar grains. At al f.K levels, the dominant fracture mode was cleavage, with small isolated regions of ductile striated fatigue cracks. The size of the cleavage facets varied from 150 to 600 ILm, and such a variation may be explained by the fact that cracking generally occurs in association with the pro-eutectoid ferite phase, and that this phase is distributed along some boundaries of prior austenite grains and the boundaries of the coarser columnar grains.

Jan 1, 1987

By E. Pothas, P. R. Jochens, L. B. McRae, D. D. Howat

SYNOPSIS The phase equilibria, viscosities and sulphur capacities of titaniferous slags were determined in the composition range of CaO = 30 to 0 per cent, MgO = 0 to 30 per cent, SiO2 = 19.69 per cent, AI.O. = 13.12 per cent and TiO2 = 37.19 per cent. The phase equilibria were determined by high temperature microscopy, the viscosities were measured using a rotating outer cylinder viscometer and the sulphur capacities were evaluated from the results obtained by equilibrating the slag in a gas stream of CO, CO2 and SO2. The behaviour of these titaniferous slags under reducing conditions was examined. Possible use of the slags for aggregate, or slag-cement, and the possibility of extracting the TiO2 are discussed. CONTENTS INTRODUCTION PHASE EQUILIBRIA VISCOSITIES DISCUSSION OF THE PHASE EQUILlBRIA AND THE VISCOSITY VALUES EFFECT OF REDUCING CONDITIONS SULPHUR CAPACITY DISCUSSION OF THE SULPHUR CAPACITY VALUES POSSIBLE USES CONCLUSIONS ACKNOWLEDGEMENTS REFERENCES INTRODUCTION The latest phase in the exploitation of the mineral wealth of the Bushveld Igneous Complex is the erection of a plant by the Highveld Steel and Vanadium Corporation Limited near Witbank to produce steel and vanadium-rich slag from the titaniferous magnetites occurring in this rock formation. These titaniferous magnetites occur as segregations in the gabbro body and the TiO2 is mainly present within the structure of other constituent minerals but also occurs in smaller amounts as ilmenite and ulvospinel. The vanadium is thought to be present in the iron oxide phase due to isomorphous replacement of the iron. Until very recently, it was feared that the high titania content of these titaniferous magnetites would militate against their value as useful iron ores. However, the design of an integrated plant to produce both steel and vanadium-rich slag, and in which the iron-making process is conducted in submerged arc furnaces instead of in

By J. A. Venter, M. K. G. Vermaak, J. G. Bruwer

Electrostatic separation is employed in the concentration of zircon and rutile. The zircon concentrate undergoes an acid treatment to remove impurities from the surface of both the zircon and rutile. The purpose of the acid treatment is to increase the difference in the resistivities of the two minerals, thus ensuring the best possible electrostatic separation efficiencies. Previous test work suggested that these impurities are not removed, but only modified; the surface modification seemed more prevalent in the case of the rutile. The resistivity of the rutile changes with pH and thus the electrostatic separation of the rutile is influenced. X-ray photoelectron spectroscopy (XPS) indicates that there is an increase in the OH and adsorbed H2O concentrations on the rutile surface. XPS also showed significant differential charging on the rutile surface, which indicates that the species on the rutile surface have different resistivities. The zircon particles from the conducting and non-conducting streams have similar resistivities and no major differences in their surface species. Zircon losses during the final electrostatic separation appear not to be due to surface effects, but due to shielding of particles during the separation.

Jan 1, 2007

By H. Gercek, M. Genis

In this paper, the effects of dynamic loads on the geometry of the failure zone occurring around underground openings, excavated in deep and massive rock masses, have been investigated. Following an elasto-plastic stress analysis of a two-dimensional underground opening under static conditions, dynamic loads have been applied. In the static and dynamic analyses, FLAC2D computer program has been utilized. Maximum ground acceleration value is selected as an input parameter. An index determining the relative size of the yield zone around the opening has been used for comparison of instabilities. In diesem Bericht wurden die Auswirkungen von dynamischen Lasten, auf die Geometrie der Bruchzone in der Umgebung von Untertagehohlräumen, die in tiefen und massiven Gebirge aufgefahren wurden, untersucht. Nach einer elasto-plastischen Spannungsanalyse eines zwei-dimensionalen Untertagehohlraumes unter statischen Beanspruchungen, wurden dynamische Lasten aufgebracht. Für die statischen und dynamischen Analysen wurde das FLAC2D Computer Programm verwendet. Die maximale Bodenbeschleunigung wurde als Eingabe Parameter gewählt. Zum Vergleichen der Unstabilitäten wurde ein Index verwendet, der die relative Grösse der Bruchzone in der Umgebung des Hohlraumes bestimmt. Dans ce papier, l’influence des chargements dynamique sur la géométrie de la zone en rupture observée autour des cavités profondes excavées dans des massifs rocheux ont été étudiées. Des chargements dynamiques ont été appliqués, dans le cas d’une modélisation bi-dimensionnelle de l’excavation d’une cavité profonde, sur la base d’une analyse élastoplastiques des contraintes en conditions statiques. Le code de calcul FLAC2D a été utilisé pour les analyses statiques et dynamiques. La valeur maximale de l’accélération du sol est choisie comme paramètre d’entrée. Un indice déterminant la taille relative de la zone sollicitée autour de la cavité a été utilisé pour comparer les différentes instabilités.

Jan 1, 2003

By D. Seke

Metal inventories are usually reported in financial statements of mining companies. However, the value of these inventories can be reliable only if the metals in stock are measured within acceptable tolerances. Reliable metal balancing requires accurate mass measurement, sampling, and chemical analysis. Many mining companies are usually unable to validate the accuracy of metals in inventories at the end of their financial year. This is mainly due to poor mass measurement, sampling, and chemical analysis practices. This has an adverse impact on metallurgical accounting and metal valuation. In addition, it puts a lot of stress on external auditors, who have the duty to recommend the approval of the financial statements to the board of directors. Although a full value chain of metal reconciliation includes the accuracy of Mineral Reserve definition and grade control at the mine, this paper discusses the implementation of best practices for mass measurement, sampling, and chemical analysis at processing plants. This is an important aspect of sampling and reconciliation that is required in order to improve the reporting of inventories in the financial statements of public mining companies. Keywords metallurgical accounting, corporate governance, sampling, analysis.

Jan 1, 2014

By Sönke Schmachtel

Several possible physico-chemical properties of composite electrodes for oxygen evolution are presented to describe experimental data for which a mathematical model had been developed. On this basis, local electrical and electrochemical properties of a composite electrode were investigated with conductive atomic force microscopy (CAFM) and scanning electrochemical microscopy (SECM). It could be shown by CAFM measurement that the boundary between matrix and catalyst particles seemed to have special advantageous electrical properties. The SECM measurements showed the presence of mass transport phenomena with increased surface concentrations, whilst the thickness of the Nernst diffusion layer was very small. An intermediate was detected and assigned to be hydrogen peroxide. From all species involved in the oxygen evolution reaction (H2O2, H+ and O2), it was concluded that local active spots exist on the electrode on which hydrogen peroxide reacts to oxygen and protons. A two?step two-material process was suggested to explain the whole oxygen evolution mechanism.

Jan 1, 2008

The Centenary Distinguished Lecture was held on Thursday, 24th March, 1994 at the Convention Centre of the Sandton Sun, Johannesburg at 20:00. Herewith the proceedings that followed. P.R. Janisch: The South African Institute of Mining and Metalurgy began life one hundred years ago tonight, and eight years (almost to the day) after the 1886 discovery of gold, which has impacted so profoundly on the course of events in our country since then. The Early Years That discovery was a mater of fortune, but not in the sense of the conventional prospector's lucky strike. Canny explorers, such as the Strubens, had been around for some years and, if George Harrison had not stumbled over the Main Reef when he did, someone else would surely have done so within months. The element of luck was that the gold-bearing rocks of the Witwatersrand actually lay exposed to sight. We now know that they are something of the order of 2,5 billion years old. Rocks of that age are usually covered by younger formations. In fact, the bulk of the Witwatersrand Basin is covered by lava, dolomite, and Karoo measures. What, one wonders, would our history have been had the Karoo, which stops at the Vaal, extended no more than 60 kilometres further north. Dr H. Scot-Russell A piece of advice attributed to Paul Kruger, the who was President of the South African Republic one hundred years ago, was the following: 'Seek from the past that which is good, and build on it for the future'. It is advice that can be applied universally and, whether deliberately or not, it must have motivated my predecessors when this Institute celebrated its 40th, 50th, and 75th birthdays. Those milestones were each marked by retrospectives, as Peter Janisch has so ably presented tonight on our hundredth anniversary. The parallels do not end there. We find ourselves in times no less daunting than those our predecessors. Next month will see the birth of a new kind of South Africa; so did May 1902, May 1919, and May 1948.

Jan 1, 1994

By R. W. O. Kersten

Backfilling is one of the options available to the mining engineer in mine design. The decision as to the type of backfill is dependent on the purpose for which it will be used. For example, in a situation where high-grade, steeply dipping multiple reefs are to be mined, the purpose would be the following: ? to facilitate maximum extraction; a ? to minimize loss of fines; ? to allow closely spaced multiple reefs to be mined; and a ? to create a working platform. The physical properties required which will satisfy the abovementioned requirements can then be defined; the design of the fill plant, as well as the transport of the fill, will be governed by these considerations. The same procedure is also adopted in deciding on backfill in single- reef gold mines. The first question to be asked is the purpose of the fill. It may be to reduce the energy release rate, for environmental reasons, to reduce timber usage, to improve productivity, to reduce stoping costs, to obtain higher mining extraction, and so on. Only after one, or a combination, of these factors has been selected, can the specifications for the fill be decided on, and the plant designed accordingly. The introduction of backfill at Sheba Gold Mine will be used to illustrate the procedure adopted by Anglovaal in determining the type of fill required.

Jan 1, 1988

By H. W. Read

Sustained growth in demand for platinum group metals has resulted in an unfettered increase in new projects undertaken by the platinum producers. These projects are outsourced to various degrees. The argument of this paper is that both the client?s project manager and the consultant?s project manager are essential elements in the successful execution of a project. Their roles are not only different but also complementary, and are defined in the paper. Data gained from considerable experience in the South African corporate mining environment underpins the opinions expressed in the paper. Furthermore, an extensive literary search was undertaken to determine trends in related industries outside the South African context. Throughout the argument it is emphasized that project philosophy emanates from a systems view and must be treated as an overarching whole. The elements of project management become meaningless unless they are connected to one another and integrated into a cohesive unit. Advancing the knowledge field of project management is of critical importance to mining investors. There is no doubt that a key determinant of the sustainability of mining business is closely related to the efficiency of all-inclusive project management. From pre-investment and feasibility studies, implementation and execution, to ramping-up to full production, scientific project management has a critical role to play. Guidelines for the pursuance of this ideal are proposed. The introduction contextualizes the subject matter in an overview of the evolution of mine management in South Africa and abroad. Then, brief insight is given into the philosophy of project management. This exposition is confined to the predispositions, presuppositions and defining characteristics of project management. The core of the paper looks at the roles of the client?s project manager in relation to the consultant?s project manager. This section is underpinned by practical experience gained by the author on numerous mining projects. A view is taken of the future of project management in the mining industry. The conclusion summarizes the argument and aligns project management trends in the mining industry.

Jan 1, 2004

By M. Mabuza

Two Rivers Platinum Mine (TRP) is a 55:45 joint venture between African Rainbow Minerals and Impala Platinum, respectively. TRP is situated on the farm Dwarsrivier 372KT, in the southernsector of the eastern limb of the Bushveld Complex. Dwarsrivier is underlain by rock formations of the Critical Zone (Winterveld norite-anorthosite) and the Main Zone (Winnarshoek norite-anorthosite). Two economically significant PGE-bearing layers namely the Merensky Reef and the UG2chromitite are found within the upper Critical Zone. These are approximately 140 m vertically apart, separated by a series of barren norites and anorthosites. At Two Rivers Platinum, only theUG2 chromitite layer is currently being mined for PGEs. The UG2 sub-outcrops north/south along the Klein Dwarsrivier river valley with a very gentle dip to the west of 7º?10º. At Two Rivers the UG2 averages about 120 cm in thickness, overlain by a waste pyroxenite parting about 20 cm thick, above which is a leader seam about 20 cm in thickness. The mineable cut consists of the leader seam, the waste pyroxenite parting, the UG2chromitite layer including 25 cm of pegmatoidal pyroxenite footwall, below the UG2 reef to a minimum of 185 cm trackless mining cut. The mining method is a mechanized bord and pillar layout, which will yield a total of 185 000tons at full run of mine production from the underground UG2 mine.

Jan 1, 2006

By N. Brown

Australian mining companies are actively exploring for and developing mineral deposits throughout the world with interests in emerging markets such as Africa, Asia and South America. It is important to understand emerging market risk as this will affect the willingness of mining companies and financial institutions to invest in a country, especially with reference to their key asset, the mining licence or operating/concession agreement. Mining companies looking to develop new projects in emerging markets have different risk profiles than projects in countries such as Australia and Canada. Examples of key risks faced in emerging markets include: 1. political - expropriation, nationalisation, contract frustration, currency inconvertibility, war, terrorism, strikes, riots and civil commotion; and 2. legal - mining legislation, arbitration and dispute resolution, trade agreements. There is a problem in the difference in risk perceptions between mining companies, financial institutions and insurers. This can cause different stakeholders to carry out different evaluations of the risks faced by a project, resulting in confusion about the risk margin attached to any project. In a time where resource nationalisation and energy security are prompting governments to become more involved in the mining sector we run through some recent examples of mining companies that have had problems due to the key risks highlighted earlier. Importance of carrying out the right due diligence to replace perceptions with reality: ? early identification of risks - detailed due diligence on emerging market risks that may arise will help with their identification and mitigation, ? make use of companies that can help identify risks and suggest solutions, ? control the cost of financing - risk margin applied to a project ? finance loan will be influenced by the risks faced, and ? risk management and using political risk insurance. There are plenty of opportunities in emerging markets but it is important to recognise the associated risks. Detailed due diligence at an early stage will provide long-term benefits.

Jan 1, 2007