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By A M. Hagni

Certain copper ores from the Nchanga Copper Mine in the northern Zambia Copperbelt are refractory with respect to conventional beneficiation techniques. This paper reviews recent study of those ores to determine their mineralogy, textures and nature of copper occurrence. Two suites of refractory ores were selected for study: 1.  samples of stockpiled ores from an open pit, and 2.  drill core samples from copper ores. Both sample suites are from the upper orebody at Nchanga and contain about 0.3 - 1.4 per cent copper as determined by atomic absorption, but they represent separate stratigraphic, mineralogical and beneficiation problems. Ore microscopic examination showed that fine-grained copper sulfides are totally lacking from both suites of refractory ores. Petrographic study found malachite in the refractory ores from the open pit, but that malachite probably is post-mine. The opaque mineralogy of the open pit refractory ores is dominated by goethite that occurs mostly as pseudomorphic grains after pyritohedral pyrite crystals that average 200 - 250 ¦m across. Haematite occurs as bands within or as outer shells of the goethite grains. Additional goethite occurs locally as finer-grained areas of exotic goethite. The opaque minerals in the drill core refractory ores are dominated by euhedral ilmenite crystals about 50 - 175 ¦m long. Anatase is the dominant opaque mineral in some drill core samples where it is largely pseudomorphic after ilmenite crystals. Goethite accompanies malachite in unusual drill core refractory ores that have experienced intense hydrothermal alteration. Thus, ore microscopy and petrography showed that fine-grained chalcopyrite and bornite and pre-mine malachite were not the causes of the refractory nature of the ores studied. Electron microprobe revealed that most of the copper occurred in solid solution within micas. Application of automated SEM techniques has provided a detailed understanding of the distribution of copper in these refractory ores.

Jan 1, 2008

In 1961, West Australian Petroleum's Eneabba No. 1 bore encountered 22 seams of coal totalling 40 ft in thickness between the depths of 6373 ft and 6441 ft. On analysis, this coal had a similar calorific value (8000-HOOO B.T.U./lb, assuming 20 per cent water) to the coal from the Collie Coalfield, Western Australia's only known area of commercially exploitable coal. Being buried to depths in excess of 6000 ft, the coal at Eneabba had developed weakly-coking properties, and thus, although much younger than the Permian coals of Collie, gave promise of being a major potential source of power for Western Australia.West Australian Petroleum undertook a programme of stratigraphic drilling and shallow test drilling to determine whether this coalhorizon persisted into the outcrop of the Lower Jurassic sediments in the Hill River district, 140 miles NNW. of Perth, and, if it was present, if the quality and quantity of the coal would warrant development of the deposits by open cutting. The coal horizon was identified in the near surface, but the poor quality of the coal and the complexity of the structure made development (in the area examined) uneconomic at the time.A strong seismic reflection in the Eneabba area occurs at the same depth as the Jurassic coals. This event originates within the upper beds of the Lower Jurassic and it is probable that the velocity contrast between the higher velocity siltstones and the very low velocity coals enhances this very strong, distinctive seismic reflection.This event can be followed on continuous seismic data over a large area of the northern Perth Basin, from 13 miles SE. of Dongara to 20 miles SW. of Coorow. It can be followed from a depth of 4000 ftnear Dongara to over 17,000 ft to the SE., so development of thisvast potential source of power will depend on the economics ofprocesses being developed for the production of power from theburning of coal seams in situ.INTRODUCTIONThe discovery of 22 seams of economically useable coaltotalling 40 ft in thickness in the Lower J urassic sedimentsof the Eneabba No. 1 bore (Fig. 1) led to the search forthese seams at economically workable depths. The Ministerfor Mines in Western Australia granted to West Australian1. Supervising Geologist, West Australian Petroleum Pty. Ltd.Manuscript received at The Institute, 25th May, 1964. and presented to the 1964Annual Conference.

Jan 1, 1964

This paper examines the issues involved in the technical audit and valuation of exploration prospects. Certain methodologies are more appropriate to use depending upon whether the mineral property valuation is of an exploration area, a project under development, or an operating mine. Valuation approaches that are reviewed include the Multiple of Exploration Expenditure, Joint Venture Terms, Rules of Thumb, and particularly the Kilburn Rating Method. The DCF/NPV Financial Simulation Method, even modified by the use of Expected Values, is not considered appropriate for valuing exploration prospects. The choice of the most appropriate methodology and its successful application depends primarily upon the amount of reliable input data available and, more importantly, the experience and judgement of the valuer. It must be remembered that all valuations are time and circumstance specific and will be generally subject to revision as more data becomes available.

Jan 1, 1993

By T A. J Hopper, B J. Birt, K K. Trofimczyk

Nuclear magnetic resonance (NMR) has been utilised in the oil and gas industry for over 60 years. The technology was recently identified as having potential value in iron ore, where latent bound moisture may affect ore handling even after dewatering and extraction. The first step in introducing this technology to iron ore involved laboratory tests on drill core samples. These results established the parameters for a downhole borehole magnetic resonance (BMR) tool for iron-rich environments, which was subsequently developed. A major challenge involved shrinking what is a very large tool in the oil industry to a slimhole, lightweight, 1-man deployable mining tool.Of primary concern was the ability to measure the very fast transverse relaxation times (T2s) seen in the lab results on iron ore samples. Iron creates local field gradients that significantly decrease the T2 times. As a result, the BMR tool had to be able to measure T2s in the range of hundreds of microseconds, a level not required in clastic sedimentary formations. The choice of T2 cut-offs in iron ore is critical to successfully separating the free and bound fluids. The industry has typically focused on T2 cut-offs in clastics and carbonates, but not in systems with high iron content. Using core analysis results (poro-perm and NMR) we were able to verify the BMR response. The T2 cut-offs were determined from NMR core analysis and then applied to the logs so as to provide a continuous, calibrated permeability log.Field results that highlight the challenge involved in logging in iron-rich environments are presented, as well as some minimum requirements for a successful BMR log. Examples from boreholes in an active iron ore mine in the Pilbara iron ore province in Western Australia are presented, as well as explanations for how NMR data can be combined with bulk density logs to provide a continuous dry weight density log based on the original density-porosity equation from Alger et al (1963).CITATION:Hopper, T A J, Trofimczyk, K K and Birt, B J, 2017. Development of a slimhole downhole nuclear magnetic resonance tool for iron ore – some applications and limitations, in Proceedings Iron Ore 2017, pp 473–480 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Jul 24, 2017

By M Kozikowski

The primary purpose of these investigations is to determine dewatering requirements and likely impacts associated with mining operations. Standard aquifer testing techniques were carried out at multiple locations within the Ord Range near Pardoo, Western Australia. Aquifer properties of an oxidised haematite orebody were calculated from test pumping data conducted in five fully penetrating test bores. Hydraulic properties of the Ridley magnetite orebody were calculated based on short term constant rate pumping tests, and packer tests. Packer tests were conducted in undeveloped and uncased exploration holes and diamond core holes. The new data sheds light on the hydrogeological properties of this previously unexplored region of Western Australia.Aquifer testing procedures for each bore included a preliminary step test followed by a constant rate test. Recovery data were collected in each bore over a period of four to six hours. Prior to testing, background water levels and water samples were collected in a network of monitoring and exploration bores to establish baseline water levels, gradients and water quality. Water quality within the bedrock of the Ord Range varies from 2000 to 5500 mg/L TDS whereas water quality within the alluvial sequence of the De Grey River is highly variable (400 to 2500 mg/L TDS), but is predominantly brackish with some water of potable quality which is used to supply Port Hedland. Test pumping supports the conceptual hydrogeological model that consists of a pod like orebody (aquifer) surrounded by low permeability waste rock (BIF), with very weak hydraulic connection to the adjacent alluvial systems. Calculated hydraulic conductivity from test pumping data across Pardoo ranged from 0.01 to 59 m/d, depending on deposit tested.A groundwater model was used to simulate dewatering required in proposed pits and to estimate the impact of dewatering on the surrounding shallow alluvial aquifers. Test pumping and numerical groundwater flow modelling indicate the proposed below water table pits can be successfully dewatered utilising in pit dewatering production bores. Yields from individual dewatering bores will reduce with time due to the reduction in saturated aquifer thickness.Based on the numerical groundwater modelling and field investigations the likely impacts to the adjacent De Grey River alluvial aquifer system (within the Priority 1 De Grey River Water Reserve) resulting from mining and dewatering activities is considered minimal. Recalibration of the groundwater model will be undertaken once several months of dewatering data are available.The aim of this paper is to present a range of aquifer parameters derived through standard aquifer testing techniques for an area previously unexplored in terms of hydrogeological characteristics. It is the goal of the authors to provide this comparison data set for future work in similar geologic media.

Jan 1, 2009

By G J. Corbett, T M. Leach

Although hosted within an Ordovician magmatic arc, the Peak Hill high sulphidation system displays features typical of youngerPacific Rim high sulphidation epithermal gold deposits. Regional NW trending transfer structures are inferred to localise the magmatic source at their intersection of the NS trending arc. Fluids have migrated from the magmatic source along NW structures and thence exploited permeable horizons, which have become silicified. Alteration displays typical zonation from silicification through assemblages characterised by alunite, pyrophyllite and kaolinite and is followed by breccia/fracture controlled sulphide and gold deposition. Sinistral rotation on the NS arc has dilated NW trending fractures to produce the WNW to EW dilational fractures which host the higher grade ore. Mineral assemblages are typical of formation distal to the magmatic source in an epithermal environment. The combination of alteration and mineralisation zonation with structure provide fluid vectors which target a magmatic source to the SE of Peak Hill.

Jan 1, 1995

Three main divisions of the Proterozoic are recognized in the North-West Division of Western Australia. These are referred to, in order of decreasing age, as the Mt. Bruce Supergroup, the Bresnahan Group, and theBangemall Group. The stratigraphy and distribution of each is described, their relative ages discussed, and a brief geological history of the whole area is presented.

Jan 1, 1966

The success of smooth blasting essentially depends on geological condition of rock. Also, in the perimeter hole, borehole pressures with light, well-distributed explosive loads are important to minimise overbreak. In order to simulate perimeter holes with scaled model test, the borehole pressure was considered as a factor of scale. Hydraulic oil pressure is applied as borehole pressure instead of using explosives and detonators in order to remove the undesirable effects of detonators in an experimental set-up of just two perimeter holes in a tunnel blast. The borehole pressure on a perimeter hole is nearly reproduced with hydraulic pressure which is generated by non-electric detonators in the hermetical cylinder.

Dec 6, 2010

By J Elsen, R Snellings, K Van Balen

This research concerns the mineralogical study of the physico-chemical reactions taking place at the pozzolan-binder interface. Lime binder/ pozzolan mixtures have been prepared for different natural zeolites. Analcime, phillipsite, chabazite, erionite, mordenite and clinoptilolite were mixed with portlandite and water, after which the progress in the reaction was quantitatively determined by thermogravimetrical analyses from three to 180 days. A first and important step was the thorough characterisation of the raw materials by quantitative X-ray diffraction (XRD), X-ray fluorescence (XRF), scanning electron microscope energy- dispersive X-ray (SEM-EDX) measurements of the zeolite minerals, Brunauer-Emmet-Teller (BET) specific surface area measurements, grain-size analyses and cation exchange capacity measurements. Beside these zeolite samples with varying Si/Al ratios, two clinoptilolite samples exchanged to the calcium, potassium and sodium form were studied and the difference in their short- and long-term reactivity was assessed. Also the difference in reactivity between identical clinoptilolite samples ground to different grain sizes, obviously having different specific surface areas, was determined experimentally. The results indicate that the external surface area only influences the short-term reactivity, whereas the cation content has effect on both long- and short-term. Na-exchanged samples combine clearly more portlandite in the first few days, whereas the reaction slows down afterwards compared to K- and Ca-exchanged samples. The early reactivity of the unexchanged zeolite samples could be explained by these two parameters, but their long-term reactivity seemed to be related to their Si/Al ratio. Samples with zeolites rich in Si reacted faster then their Al-rich counterparts.

Jan 1, 2008

By S G. Keyte

Gravity methods of recovering alluvial gold are not very efficient at particle sizes below about 0.l mm. Whereas such gold may not have been economic to recover in the past, the same may not be true today. Centrifugal concentrators, like the Knudsen and Knelson bowls, are showing promise after an inauspicious start, at least in New Zealand. The large proportion of heavy mineral in many auriferous beach sands and the natural hydrophobicity of fine gold should make flotation an attractive contender for its recovery. The conventional mechanical flotation cell is effective, but roughing, scavenging and cleaning are necessary to achieve both high recovery and low mass Yield. More problematic is the difficulty of maintaining coarse and dense sands in suspension. The air sparged hydrocyclone is effective at recovering fine gold from a fine Colarado River sand, but is not effective for the coarse and dense beach sands of New Zealand. The flotation column shows much promise for these sands, when recoveries of over 80 per cent and mass yields of less than one per cent can be achieved in a single pass. The froth separator of the USSR and flash flotation could also be worthy contenders. It is felt that flotation could be limited to naturally and artificially de-slimed concentrates.

Jan 1, 1990

The recovery by flotation of some complex uranium minerals such as brannerite and davidite is described. Anionic reagents used for flotation of iron and titanium oxides' are suitable. If care is taken, to emulsify the reagents the slime fractions may be satisfactorilytreated.INTRODUCTIONUranium ores are usually treated by direct leaching with acid or alkali according to the nature of the gangue materials. Concentration of the uranium minerals prior to leaching is not commonly practised because of the earthy nature of most uranium minerals and the difficult mineral dressing problem they pose. Some of the harder complex oxides such as davidite and brannerite are amenable to flotation. This is fortunate since they usually require an expensive, strong acid treat~ent to dissolve the uranium. Flotation tests were commenced in 1949 by officers of the South Australian Department of Mines stationed at Adelaide, first in the School of Mines, then in the University of Adelaide and finally in Departmental mineral dressing laboratories at Thebarton. Separation of daviditefrom Radium Hill and Mount Victoria ores, brannerite from Crocker's Well ore, and secondary uranium minerals from Myponga ore was attempted.The development of the flotation reagents to separate the oxides from silica and the silicates is first described, then some of the results obtained are presented as tables.DEVELOPMENT OF FLOTATION REAGENTSThe davidite at Radium Hill is associated with iron and titanium oxides, qu;a,rtz and biotite as replacement deposits in shears. The davidite, rutile,' ilmenite and hematite usually occur in segregations from nut size to masses of several pounds. They are associated as a complexity of...

Jan 1, 1955

By C Li, D O’Dea, R Moreno-Atanasio, T Honeyands

The behaviour of iron ore granules in the feeding process of sintering is significantly influenced by the material properties of the granulated mix. Therefore, the measurement of key material properties of the iron ore granulated mix is indispensable prior to the simulation of the sintering process based on the discrete element method (DEM). In this paper, three key property parameters of the iron ore granulated mix, apparent density, elastic modulus and rolling friction coefficient, were measured in laboratory-scale experiments. For different sintering processes, the moisture content of the granulated mix normally varies according to the specific requirements for granule size distribution and operating conditions. Therefore, understanding the effect of moisture content on the property parameters of iron ore granules is very helpful in accurately determining the property parameters for DEM simulation work. In this paper, six groups of iron ore granule samples with six levels of moisture contents were prepared through granulation and the trends in apparent density, elastic modulus and rolling friction coefficient with the increase of moisture content were plotted and analysed based on the measurement results. The results show that as moisture increases from 6.9 per cent to 9.1 per cent, the apparent density decreases from about 3000 to 2800 kg/m3. With moisture increasing within the same range, the elastic modulus first decreases from over 200 MPa to below 100 MPa and then reaches a relative constant value of about 40 MPa at higher moisture contents. Rolling friction coefficients are measured using two methods with both indicating a similar trend, with the rolling friction coefficient first decreasing and then rising as moisture increases from 6.9 per cent to 9.1 per cent. The relationship between µr and µ’r is assumed to be similar to that between static and dynamic friction coefficients.CITATION:Li, C, Moreno-Atanasio, R, O’Dea, D and Honeyands, T, 2017. Variation in property parameters of iron ore granulated mix with moisture content, in Proceedings Iron Ore 2017, pp 79–84 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Jul 24, 2017

By J L. Mauk

 Broken Hills is an adularia-sericite epithermal Au-Ag deposit, hosted in flow-banded rhyolites and overlying rhyolitic pyroclastic rocks in the eastern Hauraki Goldfield. The 7.1 Ma deposit was the largest producer of gold in the eastern Hauraki Goldfield, and was one of very few economic deposits hosted in Pliocene rhyolites. This paper presents the results of a recent study in the upper levels of the deposit. Maps and cross-sections constrain structural and lithological relationships, and the lateral and vertical extent of a breccia pipe û the major feature of the upper levels.   Previous studies in the upper levels of Broken Hills have shown that gold and silver values are concentrated around and within a large breccia pipe, mined by a series of æcaveÆ stopes and in veins. Contour diagrams of Au-Ag data from channel samples indicate that the breccia pipe was a major fluid channel-way for mineralising solutions.   The breccia pipe deposits are part of the dynamic geothermal system that formed the Broken Hills ore bodies; they developed as a result of hydrothermal brecciation in areas of structural weakness within a rhyolite pyroclastic unit that overlies a massive rhyolite lava-flow unit. The main breccia pipe begins near the rhyolite/pyroclastic contact, having the shape of an inverted, inclined cone, and consists of silicified breccia, stringers of quartz, and irregular patches of clay-altered country rock. Smaller zones or pockets of hydrothermal eruption breccia are silicified and contain low grade gold in the matrix and in the adjacent silicified wall rocks.   Quartz has been classified according to its physical characteristics as seen in situ and hand specimens indicate that vein definition decreases upwards, perhaps as a result of changing lithological conditions and/or increasing proximity to the paleosurface. Hydrothermal quartz is widespread as veins and as a replacement mineral, or lining fractures and cavities and overgrowing rock fragments. Breccias contain vein quartz, but some quartz veins cross-cut breccias, indicating that vein and breccia formation was relatively synchronous and overlapped in time.   Disseminated gold-silver mineralisation is associated with vein quartz and silicic alteration of the wall rock within the breccia pipe. The auriferous zones are highly irregular and erratic, and sampling results show a wide range of gold-silver ratios, suggesting that highly volatile physiochemical conditions prevailed during mineralisation.

Jan 1, 2005

Notwithstanding full concurrence with the dictum of a famous scientist that "definitions are the most accursed of all things on the face of the earth," in view of the considerable confusion which exists in jigging nomenclature, it is considered advisable to commence this paper with the following explanations of the terms which will be used throughout the text.Jig Bed. The whole layer of material lying on top of the jig screen.Ragging. The layer of denser material lying immediately above the jig screen, which is too coarse to pass through this screen and is confined horizontally by the cells of the top grid.Ore Column. The layer of ore pulp between the ragging and the top-water.Top Water. The water, carrying fine material in suspension, which flOiWS over the surface of the jig bed.Hutch Water. The water added to the jig below the screen. (Except for the water discharged with the hutch concentrate, the "hutch-water" eventually becomes "top-water.")Feed Water. The water in the ore pulp fed to the jig.(This water becomes part of the "top-water.")Pulsion. The period of the jigging cycle during which the water is moving upwards relative to the particles in the jig bed.

Jan 1, 1937

In his account of the Thackaringa sulphide ore, Lawrence (p. 92) reports the presence of valleriite as a minor accessory in chalcopyrite. He says that it is readily identified by its intensive anisotrophy and reflection pleochroism. He also gives (p. 87) the chemical formula as Cu8Fe4S7 Recent work by Evans et al. (1964), Chamberlain and Delabio (1965), and Schidlowski and Otteman (1966) suggests that most material identified as valleriite is, in fact, mackinawite. Mackinawite and valleriite are both extremely anisotropic and strongly reflection pleochroic, and so with fine-grained material it would be hard to distinguish them optically.Mackinawite, according to Evans et al. (p. D66) is a copper-free iron sulphide (PeS) with small quantities of nickel, whereas valleriite is considered to be a dimorph of chalcopyrite (CuPeS2 ). They found that mackinawite is much more widespread than valleriite, and, unlike the latter mineral, is commonly included in other sulphides, particularly chalcopyrite.Lawrence (p. 92) states that the valleriite inclusions are up to 0·01 mm long, so that an electron probe microanalysis should be quite feasible and provide a ready answer to this query.L. J. Lawrence: I thank Dr Townend for his comments on the occurrence of a valleriite-like mineral embedded in chalcopyrite from Thackaringa. The problem of distinguishing valleriite from mackina...

Jan 1, 1967

By Lee T. J

The area, A, under a gamma-ray log that passes through a horizontal bed given by: A = gl/k. Here is the equivalent concentration of U3O8 in the body, l the thickness of the body, and k the calibration factor or sensitivityof the logger. The area is independent of the logging speed or logger time constant.This relationship, together with the first moment about the maximum of the log and its value there suflicient to determine the thickness, position of the centre of the bed from the log maximum and the concentration of U3O8.Numerical results obtained from artificial and field data show that the computed results arc as good as those obtained by methods such as the inverse filter technique and the iterative method. The present method yields results that arc easier to feed into an ore reserve data base.

Jan 1, 1981

By Blanchard R

The discussion submitted by Drs. Stillwell and Edwards is at once helpful and gratifying to the authors. Their contribution deals with two phases of the problem-(I) an additional suggestion for the relative solubility of galena and marmatite, and (2) submission of an alternative explanation for the greater leaching of the Northern ore-body. With the first we agree in principle, and herewith present recent data which will help to substantiate the idea, though the mechanism is not believed to be as simple as indicated by Stillwell and Edwards. Concerning the second suggestion, the original explanation put forward. in the paper is held to fit the facts more closely.In view of the influence, as shown by Garrells' paper,in which the presence of Cl' ion may have upon the relative solubilities of lead and zinc, it is perhaps worth noting that Broken Hill mine water carries a higher content of Cl' than has been reported from many of the other lead-zinc districts.Since our paper was published, an analysis of water issuing from the newly-opened Northern ore-body on the 2,600-ft. level has been made (12/1/43). It is compared with that quoted in the original paper as follows:

Jan 1, 1943

By D Craw

Uplift of the antiformal ranges in Central Otago, New Zealand , has resulted in the progressive evolution of eluvial placer deposits in tectonic sediments on the range flanks and along their margins. The placers are derived from the reworking of fine-grained gold from the auriferous Manuherikia Group fluvial sediments which covered the basement prior to uplift of the ranges. Gold in the tectonic sediments at Matakanui shows a progressive increase in grainsize in successively younger sediments and nuggets in the youngest gravel sequence are up to two orders of magnitude larger than gold grains in the parent alluvial source. Most of the gold in the tectonic sediments is highly irregular in shape, commonly with delicate surface textures which could not have survived fluvial transport and are indicative of authigenic precipitation. Some coarse grains have been rounded by recycling, and further addition of authigenic gold has occurred. Placer gold values result from both physical and chemical enrichment during sedimentary recycling. Continued range uplift and back-thrusting of sediments on to the ranges results in recycling of earlier formed placer sediments. They also result in further enrichment of gold values through the incorporation of additional supplies of the parent alluvial source sediment The host sediments are widespread along the ranges and are not confined to sites of historic mining activity.

Jan 1, 1992

In general, the metallurgical industry has so far been slower than the chemical industry to adopt ion exchange materials for industrial processes. The atomic energy industry presents a marked exception to this general situation, and the literature shows a rapidly increasing use of ion exchange techniques for the recovery of atomic energy metals on scales ranging from the ultra micro up to that of the largest mining operations. In many cases, the processes used would be equally applicable to more common metals and it is hoped that this review will be of interest to metallurgists outside the specialised atomic energy field. The review is intended to describe developments of ion exchange processes made during the last three years. Earlier studies have been summarised by Kunin and Preuss (1956) and Roland (1957). In order to restrict the number of references discussed, purely analytical procedures have been omitted and only those processes which have been conducted on a reasonably large scale or which, from their nature, areclearly capable of being upscaled, have been considered. The paper is divided into five main sections concerning respectively:Water treatment and effluent disposal.Metal recovery and purification.New ion exchange materials.New ion exchange equipment.Membrane cells.WATER TREATMENT AND EFFLUENT DISPOSALA high proportion of atomic reactors, and particularly those of American design, are cooled by water which is...

Jan 1, 1961

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