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The economic valuation of mineral prospects usually involves DCF analysis of expected revenues and costs. Traditional approaches deal with price uncertainty by considering different price scenarios and may even consider cases where prices drop sufficiently for production to be suspended temporarily. This paper outlines recent extensions to the methodology derived from finance theory. We present a simple analytical model that focuses on the value of operational flexibility where future prices are uncertain.

Jan 1, 1988

Jan 1, 2004

By G Hobart

Laboratory flotation tests were conducted to investigate the role of pH, zinc sulfate and potassium metabisulfite in the flotation of galena and marmatite in the Broken Hill orebody. Marmatite was depressed under alkaline conditions alone, however the addition of the two depressants, either individually or combined, resulted in the greatest selectivity. The use of zinc sulfate under alkaline conditions resulted in good selectivity whilst maintaining a high lead recovery. The addition of potassium metabisulfite under alkaline conditions reduced zinc recovery, but high additions reduced lead recovery. The addition of both depressants at alkaline pH produced the best result, with a lead concentrate of 72.6 per cent at 98 per cent recovery with less than four per cent zinc recovery.

Jan 1, 2005

By Michot LJ, Kongolo M, De Donato PH

Diffuse Reflectance Infrared Fourier Transform Spectroscopy (DRIFTS), Hallimond tube flotation tests and microelectrophoresis measurements have been used to investigate the reactions involved in the adsorption-ion of K-amyl xanthate on finely ground pyrite. Pure pyrite was finely wet ground, at different pH values, in specially built laboratory stainless steel or iron rod mills. Amyl dixanthogen was the only product identified on the surface of pyrite when stainless steel rods were used. When iron rods were utilised, ferric xanthate and physically adsorbed xanthate ions were observed in the superficial phase. The use of iron media was found to depress slightly the floatability of the mineral.

Jan 1, 1993

By J-M Rendu

Substantial progress has been made over the last ten years in the development of uniform national and international standards covering the definition, estimation and public reporting of mineral resources and mineral reserves. Agreement between the major participating countries has been reached, which includes the requirement that a Competent Person prepare and approve publication of mineral resources and reserves. Most national regulatory organisations have accepted the new standards and have included them in the rules that must be followed by mining companies operating under their jurisdiction. These developments are the result of a concerted effort on the part of professional societies, national regulatory agencies, international organisations, and many dedicated individuals. The historical development of these standards is summarised in this paper. Accepted definitions of mineral resources and mineral reserves are discussed, as well as the definition and role of the Competent Person. Additional effort is needed before the international standards are fully understood, accepted and followed by mining companies, regulatory agencies, the investment community and the general public. Steps being taken toward development of an International Code are outlined.

Jan 1, 2002

In February 1974 a continuous synthetic polymer dosing plant was installed at Hamersley Iron Pty. Limited's Pellet Plant at Dampier. The polymer, supplied in a liquid sus- pension, is used to improve the drying characteristics of green pellets. 'Three years of test work were involved in the development of the use of polymers. Polymer is continuously dosed to the balling spray water system at a rate determined by the flow of spray water to the discs. Problems have been experienced with handling the polymer in 44 gallon drums, the increased viscosity of the spray water, disc overloads, increased bed strength and increased "stickiness" of pellet fines.

Jan 1, 1974

By T Harrington, M Cox

There have been many changes in the Australian mining industry during the last 30 years. One of the most dramatic changes, from a geological perspective, is the reduction of in-house geological staffing and an ever increasing reliance on contract and consulting services. As a result, there has been a change in the way geological information is generated, managed and retained within the industry. This paper describes the changes that have taken place in the industry, provides two case studies of how companies manage their geological Intellectual Property and reviews some of the issues associated with management of in-house and outsourced geology services.

Jan 1, 2009

By McGregor GW

The Utah International group of companies has a wide geographic spread of operations, including a significant interest inAustralia's largest coking coal operation in Queensland, steaming and coking coal mines in USA, a copper mine in Canada, a half interest in an iron ore operation in Brazil, a number of smaller operations, and a significant portfolio of undeveloped properties in South America, South Africa and South East Asia.The opportunity to acquire this group of companies presented an immediate problem to BHP in that it was regarded as too large for BHP to absorb by itself. In addition, there was a concern that such an acquisition would increase BHP's coking coal exposures to unacceptable levels. Despite these dilemmas, BHP was keen to acquire Utah.A plan was therefore developed and agreed to by General Electric (GE) (the then owner of Utah) which would give BHP nine months in which to put together a consortium to share in the ownership of the Queensland coal assets (plus coal assets owned by BHP), and to arrange a project financing for use by BHP and the consortium. BHP would own 100% of the rest of the assets.

Jan 1, 1985

By Summers DA

Faculty at the University of Missouri-Rolla have carried out research on the application of high pressure water jets as a means of excavat- ing coal for over 15 years. During the course of this time, a number of different concepts have been explored--the most recent of which has been to use high pressure water jets as a means of extinguishing an underground coal seam fire. This paper will examine the use of some of these technologies and will consider the results as a basis for discussion of further applications of water jets in the future. The structural pro- perties of coal which distinguish it from other adjacent geotechnical material and provide a considerable advantage to water jet cutting, will also be presented and the advantages of using this tool will be discussed.

Jan 1, 1986

Environmental and amenity factors have introduced a new dimension to the technical problems of the mining industry in finding, extracting and processing the mineral and energy products on which we all depend. Intervention by outside regulatory bodies is restricting the production of minerals and denying the industry access to large areas in which the orebodies of the future may occur. The solution lies to a large extent within the industry itself and appropriate management techniques are necessary to ensure that exploration and mining are seen as an acceptable as well as a necessary land use. Close liaison between operators and the responsible authority is necessary to achieve these objectives and to make the best use of our land resources.

Jan 1, 1979

In Australia we usually define "resource" in purely material terms, and rarely relate it to intellect and human capacity. We look at the sheer abundance of our natural resources and are satisfied with the feeling that we don't really need-to rely on using our brains. Certainly our country is fortunate to have the mineral resources it does, but in many ways Australia's worst enemy is its "lucky country" syndrome because we tend to underutilise the great resource we have in the capacities of our people. Raw material exports will undoubtedly continue to contribute a major share of our export revenue, but to harness the riches our country has to offer most effectively we need the vision and planning necessary to bring together our material and human resources. There is a need not only to find, exploit and process our minerals economically, but to turn as much of our mineral wealth as possible into high value products before it leaves the country. In particular we must use our brainpower if we want to maximise economic benefit from and political influence over the strategic minerals which leave our shores. In the past we have been successful in finding and exploiting minerals because our mining industry has been in the forefront of private sector research and development. But if Australia is to have an advantage over other mineral rich countries in insulating itself from the effects of cyclical swings in commodity prices, then the future of the industry must lie even more in technological sophistication rather than depending. on such considerations as size and location of mineral deposits. To survive, our mineral industry must have the foresight and resourcefulness to make its own luck. There are two keys to increased efficiency in exploration and production and in further processing methods: enhancement of the skills of the workforce and continual improvement of R&D.

Jan 1, 1986

By Fewings JH

When the mining and milling of 1100 Copper Orebody commenced, difficulties were experienced in producing a satisfactory grade of copper concentrate. The major concentrate contaminants were fine pyrite and silica, particularly in the minus 10 microns fraction. Studies of the 1100 Orebody showed that much of the fine grained pyrite and a proportion of the silica present in the ore contained carbonaceous matter in the form of complete or partial rims and as internal carbon films disseminated throughout grains. The hydrophobic surface property of the carbonaceous material resulted in an inherently flotable fine pyrite and silica fraction. The addition of a 60:40 mixture of nigrosine and dextrine, initially to a prefloat concentrate of the inherently flotable carbonaceous material and finally to'the total copper flotation feed, successfully controlled the flotation rates of the carbonaceous pyrite and silica. The objective of a 25 per cent Cu concentrate grade was then achieved without decreasing copper recovery.

Jan 1, 1970

A/method of introducing nitrogen into alloy steels using iron and ferromanganese nitrides is considered. Data are I ded on the nitrides produced. The kinetics of the formation of the'nitride product from the reaction between or ferromanganese powder and ammonia are presented, together with an indication of the efficiency of the Reactions.

Jan 1, 1970

Gold mining in Waihi spans three centuries and five generations. Following the discovery of gold in 1878 the Martha Mine was developed and the town of Waihi grew up around it. Now, five generations later, descendents of many of the original settler families continue to live and work in Waihi. Many have returned to mining, in jobs far removed from those of their parents or grandparents.   Members of three local families were interviewed on video. This paper is a summary of some of the major themes and gives some insight into the role gold mining played in the development of the region and its continued its importance today.

Jan 1, 2006

The history of the discovery. and successful development of the offshore Gippsland Basin oil and gas fields has been well docu- mented in contemporarary and more recent industry and profes- sional literature. The various articles, papers and books record fairly balanced views and comments as to the nature and results of the explora- tion effort, and factual data concerning the subsequent develop- ment of the fields and facilities concerned with petroleum production in the Bass Strait and Gippsland environment. Recommended reading for those interested in the scientific and technical aspects of the Gippsland Basin developments and the search for petroleum in the Bass and Alway Basins includes the available library contained in the publications of The Australasian Institute of Mining & Metallurgy The Commonwealth Mining Congres since 1960 The Australian Petroleum Exploration Association The Geological Society of Australia The American Association of Petroleum Geologists Various Commonwealth and Victorian Government instrumentalities Trade Journals

Jan 1, 1988

Computer modelling is being used to simulate rock fracture, caving and stress redistribution about longwall panels with increasing confidence. The models are being assessed against field monitoring and have significantly increased the understanding of caving mechanics within the overburden. This paper discusses the modelling approach and provides some examples of its application to overburden damage and induced hydraulic conductivity. Computer models used in this study simulate the fracture process in the geological units throughout the overburden. Analysis of the mining induced fracture patterns and in situ joint patterns allows an estimation of the hydraulic conductivity within the overburden. The cubic flow relationship has been used in the examples presented.

Jan 1, 2005

Indonesia remains relatively unexplored by modern methods. The great expectations created by the rush of companies taking up Contracts of Work over large areas during the epithermal gold/ring-of-fire boom (1985-7) have not been fulfilled. This is not necessarily a reflection on the prospectivity of Indonesia; on the contrary, many of the hopeful companies were,, under-staffed and under-financed to overcome the physical and logistic problems of exploring virgin jungle.After the stock market crash of 19th October, 1987, many of the weaker companies were unable to sustain their programs or to arrange farm-outs, and they have subsequently relinquished their tenements. In some cases, little or no field work has been carried out so that many areas remain untested. This poor performance will ensure much more rigorous scrutiny of future applications by the Indonesian authorities.

Jan 1, 1990

By Wong PLM, Hsu YJ, Nguyen HH

The treatment of copper-gold ores has been plagued by several problems because of the interaction of copper minerals with the cyanide leach solution and the dissolved gold cyanide. Apart from the higher consumption of cyanide caused by the dissolution of various reactive copper minerals such as azurite, malachite, chalcocite, cuprite and bornite, native copper also causes the loss of gold due to its cementation reaction with the soluble gold cyanide. This interaction however is complicated by the strong dependence of various copper-cyanide species on the solution pH and free cyanide concentration.By understanding the effect of various operating conditions (pH and cyanide concentration), several treatment processes could be implemented to minimise the copper-gold interaction and to separate copper from mixed copper-gold cyanide solutions.

Jan 1, 1997

By Connor J. W

Nifty Copper Operations was established to treat a copper orebody situated in the East Pilbara area of North West WA, located approximately 70 km west of Telfer in the Great Sandy Desert. The plant was designed to treat the oxidised portion of the orebody with underground development following at a later date. Nifty was designed to produce 16 500 tpa of copper cathode. This will increase with treatment of the chalcopyrite ore (underground resource). Ore processing is similar to other operations of this type but has its unique challenges. Problems discussed are: fine clay minerals which hinder percolation; oxidation of organic by manganese in the electrolyte; crud formation by clays; third phase emulsions; and organic carryover into the electrowinning tankhouse. As the orebody utilisation progresses, some sulphide material will require leaching and further investigations into liquor chemistry.

Jan 1, 1996

The various risk components to be addressed by explorers and project developers (and their investors) to minimise and/or manage the risk of Pacrim mineral investment are summarised to provide an overview of the issues involved and to set the scene. It then highlights the role of individual Mineral Industry Professionals (especially independent consultants) who are at the heart of any risk reduction or risk management strategy. The involvement of accredited qualified/experienced (competent) and reputable professionals is essential to produce realistic and reliable results that gain and maintain investor confidence. Today, high ethical standards as well as technical competence are sought by government legislation/licensing regimes and initiatives of professional bodies like AusIMM, MICA, Professions Australia, Council of Professions, etc. All attempt to regulate and guarantee reputable individual professional behaviour (particularly in the context of currently perceived high corruption levels in many Pacrim countries). Brief comment will discuss the usefulness of accreditation and ethics codes plus other specific codes (eg JORC/VALMIN and their international analogues in Canada, South Africa, etc) in reducing risks.

Jan 1, 2004