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By R Berthelsen

The Peak Gold Mines Pty Ltd (PGM) operations are located approximately 9 km south of Cobar, NSW. PGM currently mines and treats ore from three separate orebodies within 5 km of the original plant. Production from the original Peak orebody ceased in April 2002, with ore currently sourced from underground at New Occidental and Perseverance, while New Cobar supplies ore from an open cut mine. In March 2003, Wheaton Minerals Asia Pacific purchased the operation from Rio Tinto who operated the mine for around ten years. The Perseverance deposit is situated between 600 and 1000 m south of the Peak orebody. Access is via shaft from Peak to 630 m below surface and then by decline to the northern end of the deposit locally known as Zone A. Development of the resource commenced mid 2002 to set up for a long hole open stoping operation at 25 m level spacing. The first production stope was successfully brought on line December 2003. The Perseverance deposit is hosted by sediments and volcanics along the eastern margin of the Devonian Cobar basin and is one of many deposits with the Cobar Gold Field. The Cobar Gold Field has produced approximately 2.5 million ounces of gold since 1880. The Perseverance area had long been considered prospective due to the presence of old workings at the southern extensions of Peak line of lode. Significant mineralisation was first discovered at Perseverance in 1994 when PGM drilled a hole targeted 950 m below the historic workings. The target was based on an apparent plunge to the stratigraphic controls to the Peak Orebody. Subsequent exploration within and around the ægreaterÆ Perseverance area has been significantly aided through the use of downhole electro-magnetic surveys due to the close spatial association between gold and sulfide mineralisation.

Jan 1, 2004

It is my pleasure to deliver the first Keynote Address to the first joint conference between The Australasian Institute of Mining and- Metallurgy and The American Institute of Mining, Metallur- gical and Petroleum Engineers. I am particularly pleased to be participating in this first joint meet- ing as I have been a member of one Institute for 41 years and the other for 35 years. An examination of the membership of both Institutes confirms the fact that the mineral in- dustry is an international one. This has long been the case and basically stems from the occurrence of mineral resources in most countries of the world. It is therefore fitting that these two 'Inter- national Institutes', representing the professions involved in the mineral industry, should choose `International Resource Management' as the theme of the first joint conference. The topic of this Keynote Address is `The mineral equation' or the counterbalancing supply and demand items and the factors affecting them. I propose to attempt to present the overall picture of the mineral equation as subsequent papers and sessions will deal with specific items in more detail. My thesis is broad and deceptively simple; it is that the continued existence and growth of world material civilization depends, in large measure, on the continued use and further dis- covery of world mineral resources. Material civili- zation is used as a broad term to include the pro- duction of man's shelter and tools together with the production of the `consumer' goods and ser- vices needed by society. First let us spend a few minutes looking at the development of material civilization.

Jan 1, 1978

By H. J. Glass, A J. Cornah

Improving the quality of the variogram helps to improve subsequent estimation and simulation processes. Two strategies for conditioning data prior to construction of the variogram are investigated using data from the Luce iron ore deposit in Canada. One strategy is the classic approach in which the deposit is subdivided into a set of structural domains. The domains are analysed individually and datapairs are recombined to produce a variogram. The second strategy is reconstruction of the deposit at an earlier stage of its history through unfolding. This involves transformation of the Cartesian coordinates into stratigraphic coordinate system. Improvement in the variogram quality, expressed in a decreased weighted deviation from a fitted model, is observed for both types of data conditioning. This indicates that, for the Luce deposit, application of data conditioning could also help to inform the selection of sampling locations.

Jan 1, 2006

By Anderson JDC

Opencast Lignite Mining requires topwall strata of seams to be fully depleted and footwall aquifers sufficiently depressurized. To prevent a spread of the cone of depression into protected wetlands some distance away, alternatives had been investigated such as closing water works, underground slurry wall barriers and recharge by infiltration. As a result of these investigations, the infiltration method has been chosen and in a first phase during the next decade it will utilize as much as 55 x 106 m3/year. Using this approach, the survival of the wet lands is assured.

Jan 1, 1988

By M Stewart, J Vann, S Dunham

Geometallurgy is an emerging, cross-disciplinary field that integrates spatial models of rock properties with time-based outcomes of mining and treatment processes. Geometallurgical variables include any rock property that has a positive or negative effect on the business. Some of the more critical geometallurgical variables include recovery, grindability, throughput, power consumption, mineralogy and content of deleterious materials. These variables drive project costs and revenues in a fundamental way and thus geometallurgy has potential to positively impact on the value of strategic and tactical decisions across many mining organisations. Geometallurgical models, like traditional grade-only models are based on samples collected from the mineralised and non-mineralised regions of the deposit. The nature of some non-grade variables, particularly those that are dependent on the ore treatment processes, requires special consideration during sampling and subsequent spatial modelling. Failing to objectively consider the characteristics of variables may seriously compromise the validity of the sample selection, sample treatment, data models and the subsequent decisions. In addition to addressing the vexed question of collecting an æunbiased and representativeÆ sample, the sampling and modelling approach must consider issues of scale, both geostatistical support and also the relationship between bench-scale data and operational-scale mineral processing performance. This paper proposes a framework (the Primary-Response framework) for the classification of geometallurgical variables. This framework is designed to assist with developing sampling approaches and identifying the most appropriate spatial modelling approach. The proposed framework can also help identify the risks associated with designing, sampling and modelling of both types of geometallurgical variables. The Primary-Response framework divides variables into two categories; primary variables and response variables. How a variable is classified in this framework depends on the degree to which the variable reflects either an intrinsic attribute of the rock (æprimaryÆ) or its response to measurement processes (æresponseÆ). Depending on the classification in this framework, appropriate sampling and modelling decisions can be made to minimise the risk associated with the incorrect treatment of the variable. In particular, the authors argue that for response variables, the approach taken to building spatial models may need to be different to conventional linear averaging approaches (for example kriging).

Jan 1, 2009

By W van der Westhuizen

Mining professionals recognise the need and application for reconciliation and value tracking. It is necessary however to examine our current reality, and evaluate the following. Do our reconciliations really balance correctly, and are we able to track value effectively throughout processes? If we are honest, in most operations the answer is a resounding no. This means that we are surrounded by fluctuation and deviations that we do not account for and do not understand. This is astounding, because given our level of scientific knowledge and the technological tools at our disposal we should have a good understanding of our environments and be able to manage them effectively. How do we manage effectively if we are surrounded by so much uncertainty? The purpose of this paper is to describe, at high level, the principles of reconciliation and value tracking, to highlight some areas where deviations are introduced into the mining process, and to propose a different approach to the apparent reconciliation and value tracking conundrum. The paper also poses several questions that need to be critically addressed at most operations. Instead of making the same mistakes each month in reconciliations, mining professionals need to acknowledge two facts. Firstly there will be uncertainty that we need to accept, since all our estimates are based on sampling, an orebody is not homogeneous and peopleÆs behaviour will influence the process, etc. Variability will always exist and lead to uncertainty. What is the current approach in the reconciliation process when a deviation occurs and how do we use reconciliation and value tracking to manage and improve our business? The second fact is that we need to stop using reconciliation and value tracking to only measure and report. We need to adopt a new approach to manage mining throughput, where reconciliation and value tracking are enablers to the success of the business. In most mining operations, significant effort goes into planning and measurement for the purposes of reconciliation and value tracking. The importance of accurate and effective reconciliation and value tracking should be to ensure the maximum utilisation of the resource, maximising throughput and enabling the business to deliver a product to its client, of the correct quality and in a timely manner.

Jan 1, 2002

By S D. Golding

The current study integrates hydrogeochemical and stable isotope results to investigate the sources and evolution of acid mine drainage at the historic Mount Morgan gold mine in Queensland, including the controlling factors and mechanisms of sulfate formation. The open pit and seepage sumps contain acid-sulfate waters and show elevated Al, Cu, Fe, Mn, Pb and Zn values. Samples collected from the Dee River bordering the mine site are less acidic, with lower concentrations of dissolved metals that gradually attenuate downstream from the mine. Concentrated acid mine waters has lead to formation of efflorescences consisting mainly of hydrous Fe-sulfates. The results of the ongoing isotope analyses on water samples show distinctive grouping of the data. The range of the sulfur isotope values for dissolved sulfate in samples from the open pit and sumps (d34S = 2.1 to 3.0 per mil) are similar to those of sulfides in the Main Pipe mineralisation (d34S = - 0.2 to 2.8 per mil). The lack of fractionation between sulfides and sulfate indicates that intermediate oxidation states of sulfur are not significant and makes this technique a useful tracer to identify the sources of sulfate. The Dee River samples, on the other hand, have heavier sulfur isotopes (d34S = 2.8 to 5.0 per mil). These samples may contain dissolved sulfate from æinternal sourcesÆ in the river basin, show local bacterial reduction or indicate a simple mixing trend. Further isotope analyses including oxygen isotopes of dissolved sulfates will enhance the interpretations.

Jan 1, 2003

By B Cope, N Hastings, D Webb

A Feasibility Study was completed in late 2002 to ascertain the risk and reward profile from the proposed deepening of operations at Perseverance Nickel Mine in Western Australia. The system and approach adopted to this brownfields extension work is outlined and the main components of the study are overviewed. In particular, emphasis is given to the integration of mine design and scheduling tools through to financial evaluation. Detailed comment is given on the ability of the system used to provide a robust project schedule complete with 3D animation. The level of importance in eliminating scheduling errors is demonstrated in relation to the reported bottom line viability of the project. It is suggested that this is an area where brownfields Feasibility Studies have lacked clarity and authenticity, leading to the creation of an unrealistic benchmark for project implementation.

Jan 1, 2003

By P Mason, J F. Huntington, K M. Scott

Short-wave infrared (SWIR) spectral reflectance of the hydrothermally altered volcanic rocks in the footwall of the Hellyer Zn-Pb massive sulfide deposit was measured with a portable PIMATM infrared spectrometer. The Al-OH absorption band was used to derive information on the cation composition of white mica. The wavelength range of the Al-OH band from 2194 nm to 2222 nm reflects variation in the number of octahedral Al (Alvi) in white mica from 3.9 to 3.2 (based on four octahedral cations per formula). This Alvi range indicates a substantial compositional variation, covering most of the compositional region between muscovite (Alvi = 4.0) and phengite (Alvi = 3.0). Moreover, the spectral reflectance data show that the compositional variations of white mica are spatially related to the hydrothermal alteration zoning, such that the white mica of more phengitic composition tends to form in the main upflow fluid channels in the centre of the footwall alteration system. The results suggest that the octahedral Al content of white mica, which is spectrally definable by the wavelength of the Al-OH band using a field instrument such as the PIMATM, can be used to map fossil hydrothermal systems and potentially as vectors to mineralisation.

Jan 1, 2004

By Harraway D. H, Draper N

The association of graphite with a fine grained pyrite in the Mount Isa lead-zinc ore was investigated from mineralogical and metallurgical standpoints. The pyrite has been partially or completely replaced by galena and to a less extent by sphalerite, pyrrhotiteand chalcopyrite with the retention of graphite films or inclusions. During lead flotation the graphite imparts a spontaneous flotability to all associated minerals, resulting in a low grade fraction, which we call the carbonaceous fraction, floating with and diluting the lead concentrate. In times of low metal prices this fraction seriously reduces the economic value of the lead concentrate. A flotation procedure was developed to upgrade the carbonaceous fraction separately, producing an economic concentrate and a tailing.INTRODUCTIONThe lead concentrate produced from Mount Isa ores can vary from 20 to 50 per cent lead, depending on the locality in the mine from which the ore is obtained. Variations of this order are independent of ore grade and lead recovery. The large variation is related to the presence in the ore of a variable fast floating low grade fraction known locally as the carbonaceous fraction because of its association with graphite. During conventional lead flotation with sodium ethyl xanthate the carbonaceous fraction floats rapidly and unselectively with normal Mount Isa galena.The paper discusses mainly the examination and treatment of an average carbonaceous fraction, defined here as the fast floating material in the mill feed of late 1956. The ore was drawn from the Mount Isa Black Star orebodies. The fraction represented about 5 per cent of the total ore...

Jan 1, 1961

When a major mineral find has been announced the general perception is that a battle between Aborigines and the mining company involved will inevitably occur.It is a fact that many miners in the past have not had a good relationship with Aborigines because of their indifferent attitudes towards them. They saw no common future and went their particular way. However, attitudes have changed significantly since Noonkanbah and both miners and Aborigines are seeking common ground in order to achieve mutual benefits from the establishment of a mine on or near Aboriginal land. There are many obstacles that both miners and Aborigines need to overcome inordertofindthiscommongroundtoachieveawin/win situation. The obstacles can be found in entrenched ideas and practices which need overhauling, not the least of which emanate from government policy and requirements.Without going into specifics, the Noonkanbah incident during the 1970's where Aborigines and their supporters confronted miners who were ordered by the Western Australian governmentto drill on Aboriginal land, polarized Aborigines and miners. Since this incident, many Aborigines, particularly those in the cities, have had the attitude that mining and Aboriginal culture are in direct conflict. Aboriginal opinion is generally shaped in the larger cities through mass media coverage of the opinions of urban Aborigines and their supporters. Through no fault of their own, these Aborigines were removedfromthe land of their ancestors and have notlived atraditional Aboriginal life-style for a number of generations and most have little knowledge of, nor have had involvement in, traditional Aboriginal lore and culture. For the most part these people live in awestern life-style and few still know their language. They generally have high profiles, often giving viewpoints that are wrongly considered "Aboriginal" and supposedly representing all Aborigines. This group is very different with their thought processes and values from those Aborigines who live on their own traditional lands with a traditional life-style, and practise their age old ceremonies. Their tribal values are based in their relationship with the land, expressed through complex religious ceremonial rites of song, dance and legend. Today this group is very much diminished in numbers but nevertheless in the region of the Gulf of Carpentaria there is a high proportion ofpeople who practise their lore, speak their own languages and pass on traditions to their children. It is well documented in the history of Australia that Aborigines have been decimated in numbers and whole tribes have been wiped out. Certainly in this region the experience has been no different.

Jan 1, 1993

Recent well-publicised problems with the start-up of new mining projects have continued to feed the perception that the mining business in general and Ore Reserves in particular are a poor risk. New mines commonly experience difficulties when the true variability of ore characteristics becomes apparent during commissioning. At this critical stage, the impact of lower metal recovery, reduced throughput or increased consumption of reagents and energy can have a catastrophic effect on economic returns, as illustrated by the premature closure of some operations. There appear to be several common reasons contributing to the poor performance of mining projects, of which three are examined here: lack of early risk assessment before feasibility studies are started, inadequate sampling for metallurgical test work and variability of the run-of-mine (ROM) ore. An underlying feature of these issues is the lack of effective interaction between geologists, mining engineers and metallurgists/ process engineers. Geologists need to be more aware of ore processing issues and the range of characteristics that need to be considered as part of the resource estimate. Metallurgists need a greater understanding of the variability of the run of mine ore in terms of all the characteristics that influence the design and operation of the plant. Mining engineers need to determine the short-term variability of the ore in the mine schedule, so that there is confidence that the quality of the run-of-mine ore will be within the design specifications of the plant. A substantial overlap between these disciplines and sharing of areas of responsibility is necessary if these and other technical problems are to be better understood, production estimates are to be improved and commercial risks are to be reduced. Although the JORC Code (1999) provides guidelines for reporting all the issues that are material to an Ore Reserve estimate, some issues are rarely fully addressed in Ore Reserve reports. In particular there is no formal requirement for a metallurgist to assure his or herself of the appropriateness of the Ore Reserve classification. Consequently the level of uncertainty related to recovered grade and ore processing characteristics may be understated. It is suggested that to meet the concerns of bodies funding new mineral developments a stronger multi-disciplinary approach to the analysis of mineral deposits and reporting of Ore Reserves is required. The culmination of this approach would be the formal requirement for a geologist, mining engineer and a metallurgist to co-sign Ore Reserve reports.

Jan 1, 2002

The story of the rise, progress, and development of our modern railway system is a long but an exceedingly interesting one. The phases it has passed through, the discussions that have arisen from time to time on the most economic modes of construction and working, and the final result these various discussions have led to, are full of importance and interest to the engineer. It is not my intention to deal historically with the subject. I desire simply to speak to the requirements of the hour in Australia. It will not be disputed, I think, that these colonies have reached a point in railway construction and management when, if additional lines to any extent are still to be built, a different principle must be adopted. There are yet large tracts and areas of country to be tapped by the rail and the locomotive, which for years to come must remain untouched if the same expensive gauges and modes of construction are continued. We have yet to see clearly the necessity of introducing a system of light lines that will pay their own way and at the same time augment the traffic of our main lines. This question really no longer remains an unsolved problem. It lies, in a few words, in the acceptance of the, narrowest gauge and the simplest mode of construction that can constitute a pacticable railway. I fear it is hopeless to suggest that private companies should be legally permitted to construct such lines. It seems as if it were next to impossible to move official authorities to enter upon the construction of lines on this principle. It is, all the same an undoubted fact that if private companies could obtain Acts of Parliament, that in several of the colonies a new impetus would be given to railway construction.I may point out that not only has the principle of narrow gauge light railways been adopted in India but private companies are obtaining power to build them. Outside of :England many narrow gauge lines have been made, and in France, Denmark, Italy, and Sweden they have been highly successful.

By E E. Hall, C D. Taylor, D S. Yantek

Regular monitoring for methane gas is required near working faces in gassy underground mines where the potential for methane ignitions is greatest. However, high concentrations of methane can also accumulate outby the face where methane levels are monitored less frequently. Wearing a personal methane monitor equipped with an alarm could protect persons working in these outby areas from injury or death due to methane ignitions. The National Institute for Occupational Safety and Health (NIOSH) has conducted studies to evaluate methanometers that could be used as person-wearable monitors. For the present study, seven different person-wearable monitors that are not currently approved for underground use were evaluated. This paper describes test procedures used to evaluate performance of methane monitors that could be used underground for continuous personal monitoring of methane. The information in this report provides data that allows the reader to make side-by side comparisons of these instruments.

Jan 1, 2005

By G Giles

One of the main tools used by mining operations to mitigate the risk of rock burst is the installation of a so-called ædynamic resistantÆ support system. Such systems are designed to absorb the impact of shockwaves created by mine-induced seismic events. Dynamic support must be strong and capable of sustaining high loads and, at the same time, they have to be flexible and accommodate large deformation. A dynamic support system is therefore a system capable of absorbing a high quantity of energy. Ground support systems are composed of rock reinforcement (rock bolts or cable bolts) and surface support (mesh or shotcrete). In terms of surface support, fibre-reinforced shotcrete is increasingly seen as the industry preferred solution when difficult ground conditions are experienced, including areas of high seismic hazard. A thick layer of shotcrete is certainly strong but it is by no means flexible. Normal weld-mesh has some flexibility, but it is not very strong. The Australian Centre for Geomechanics (ACG), in collaboration with Onesteel Reinforcing Pty Ltd, is currently working on a new high-energy absorption mesh that combines strength and flexibility. The new mesh can be installed with a jumbo, in a similar way as the widely used sheet of weld-mesh. This paper describes the development of this new mesh system.

Jan 1, 2008

By M Grinceri

The New MetroRail City Project was completed in 2007 in Perth, Western Australia. The project included construction of two underground stations, twin bored rail tunnels of 1.4 km combined length and cut-and- cover tunnels and dive structures of about 1 km total length. It is the first major underground construction project within the Perth central business district (CBD). This paper provides an introduction to the project and describes the geology and hydrogeology of the area. Ground conditions varied significantly along the alignment from soft estuarine muds in an area of reclamation to very dense cemented sands and very stiff to hard clays. Deep foundations for the project extend down into the bedrock below the CBD, a Tertiary siltstone/sandstone. Key geotechnical hazards encountered during the project are discussed. The building protection methodology on the project is described, including damage assessment, condition surveys, monitoring and protection of key structures.

Jan 1, 2008

Now that Japan has achieved a remarkable high growth and joined the ranks of economic powers, she is required to take a stance proper to her new position toward international co- operation among Western advanced countries, economic/technical aids to Southeast Asian and Pacific LDCs, and others. As a field subject to such international cooperation programs, the development/use of coal resources has been winning increasing attention in recent years. Coal is positioned as one of promising alternative energies. With Southeast Asia plus Japan and the EEC serving as the two nucleus polar regions, total coal demand in the free world is projected to jump 37% in the year 2000 from the present level and steaming coal imports in the world, primarily destined for power generation, almost double the 1983 level. Such being the situations, Japan's tech- nologies related to coal resource development, if successfully introduced into coal-producing countries to help them boost their production, can directly lead to international cooperation that Japan is now required to fulfill. At home, however, the Japanese coal industry has been just on the wane due to various press- ing problems, such as wider differentials between overseas and domestic coal and deeper/ remorter mining. The industry was named atop in a list of the industries requiring restruct- uring at a meeting of the Economic Structure Study Committee held prior to the decision- making of the 8th coal policy, which slashed coal production planned for the last fiscal year of its life to some 10 million tons, a drop of as much as 50% from nominal output planned in the 7th policy. Under such circumstances at home and abroad, a pioneer study has been under way since fiscal 1984 as part of Japan's energy cooperation in the Pacific. The study is based on the Pacific coal flow concept hammered out by the Agency of Natural Resources and Energy of the MITI.

Jan 1, 1987

By C OÆKeefe, A Thomas

Boom time in the mining industry has presented mill operators with several unique challenges including the need for increased throughput while being constrained by a shortage of skilled labour and aging capital equipment. New instrumentation technology that provides reduced installation costs; no process down time for installation; and reduced maintenance costs and labour requirements; has been introduced to address the labour situation while maintaining production. This new tech- nology also enabled more accurate and reliable process measurements thus providing the capability for operators to maximise throughput with their existing capital equipment. This passive SONAR based technology can accurately measure the volumetric flow rate of single phase and multiphase fluids as well as the amount of air entrained within slurries. This is accomplished in a non-invasive manner. This paper will describe the principle of operation as well as the application of the technology to critical minerals processing applications. Included will be operational examples comparing the SONAR measurement performance to traditional measurement techniques. These examples will include hydrocylone feed flow, flotation concentrate flow, and slurry streams containing magnetic ores. Actual plant data will be presented as well as a discussion on the operational advantages such a measurement capability.Also described will be the power of the technology platform to provide novel process monitoring and control capabilities such as pipeline sand-out prevention and pipeline acoustic monitoring.

Jan 1, 2009

One common public perception of mining is that financially it is an extraordinarily risky business. Another and contrary view, in certain circles, is that price risk and other financial risks can be relatively easily removed or shifted by a number of schemes or devices. In reality, beyond the orebody discovery stage, mining need not be any more risky than most heavy industrial businesses. Nevertheless, as stated by Rappaport, (1986): Risk is a parameter of central importance in establishing the economic value of any asset. The level of risk is determined both by the nature of the firm's operations and by the relative proportions of debt and equity used to finance its investments. These two types of risk are commonly referred to as 'business risk' and 'financial risk' respectively. The term financial risk is used somewhat more loosely herein to recognise the reality that any risk inadequately addressed in the design, construction and operation of a mining project can have significant financial consequences; usually negative. For instance, a specific area of business risk in mining is often called technical risk which definitely has severe financial consequences if not managed correctly. The various risk shifting, hedging and risk management tools available all have their place and range from merely useful to almost indispensable. However, in the long-term, financial risks are maintained at acceptable levels by the application of sound, more fundamental business management principles. There are many with a vested interest in perpetuating a perception that the conceptual foundations of sound management practice are extremely complex. In reality, most management concepts are prosaic, but their application requires incredible discipline and hard work. There is no magic formula or 'silver bullet'. It appears that a company whose activities are restricted to mining can analyse the range of risks specific to mine development and operations more clearly than companies in which mining is just one of many businesses. The almost universal failure of large oil companies in the mining business is probably the best example of lack of any clear comprehension of fundamental business characteristics and risks. Conversely, in regard to risk management, choosing to be in other business as well as mining does nothing to reduce the risks of the mining business. The individual shareholder can probably make such 'diversification of portfolio' decisions better than most management teams. It could be argued that diversification across a number of disparate businesses may actually increase overall corporate risk due to lack of management concentration and focus. These differences between the perceptions of financial risks and the realities in mining need to be further elaborated in relation to some uncompromising business concepts.

Jan 1, 1994

The society in which we live is one of change, and we professionals are part of that society. The importance of this simple and obvious statement is often overlooked. My Presidential Address examines the question: can professionalism survive in our changing society?There is ample evidence to show that our society is changing, and that the rate of change is exponential. This rapid and accelerating rate of change is what Alvin Tomer refers to as "future shock". Rapid change means that we do not have time to become accustomed to what is happening around us and to feel comfortable with it; the greater the rate of change the greater the discomfort. The effect that this has on people is varied; the change may be either expected or totally unexpected.The rate and extent of change in society is not the same for all countries nor for all industries or occupations. Change is more rapid in Japan, Korea or Taiwan, than in Australia. It is more rapid in our cities than in the bush, more rapid for professional businessmen than for farmers. In our minerals and petroleum industries, we are still adjusting to the great changes that have taken place over the last fifteen years. In the past, products from our industries were sold on a free and open market. Today, mineral development and production in most undeveloped countries and some developed countries is manipulated for political, social and economic reasons. Changes of this nature have had a devastating effect on the operations of established mineral producers in the democracies.Because of the accelerating nature of change, we must recognise that the past is not a reliable guide to the future.Although extrapolation of the past into the future is a basic ingredient of commercial survival, extrapolation is less and less reliable.I borrow from others in quoting the Irish proverb: "The future is not what it was".The future is where our business lies and most of us at this Conference must endeavour to understand it and adjust to it. I believe in the old adage that:You can't know where you're going if you don't know where you've been and where you are at.There are a number of major factors which have created change within our social, economic, and industrial environment in recent years.

Jan 1, 1985