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Portfolio management tends to separate the functions of Asset Allocation and Stock Selection, so the person responsible for reviewing an expert's report on a company would typically be choosing between companies rather than between a company and cash or bonds. How these choices are made depends on the investment time horizon, philosophy and style. Two styles, momentum investing and value investing are contrasted and the role of valuation methods within the framework of each style is evaluated. Finally, pricing is distinguished from valuation.

Jan 1, 1994

City Resources Limited selected Vanuatu as a target area for epithermal gold mineralization because of its relatively unexplored character and its location on the southwest Pacific rim. During 1985 a systematic program of reconnaissance prospecting was completed on six islands within the Vanuatu group, using a helicopter and a specially designed exploration support vessel with on-board assay laboratory. Within a period of 4 months, reconnaissance prospecting of all six islands was completed, two previously unknown epithermal gold provinces had been discovered, and six major prospects warranting detailed exploration had been identified. Factors which contributed to the success of the program include (i) a flexible management approach, (ii) the mobility and access provided by the support vessel/helicopter combination, (iii) rapid assay turn-around, and (iv) adherence to basic prospecting techniques. The relative merits of various sampling media are discussed.

Jan 1, 1987

By E Giles

Pike River Coal Limited (PRCL) is opening a new underground coal mine in the Paparoa Ranges north-east of Greymouth. To access the coal reserves, PRCL have had to build a 13 km access road through regrowth and virgin forest, and appointed McConnell Dowell Constructors Limited, with URS New Zealand Limited as their consulting engineers, to construct the final access link: a 2.3 km long, 5.5 m wide and 4.5 m high incline tunnel. This paper discusses the logistical issues of construction in an isolated pristine forest in mountain land and how they were addressed. It provides an overview of the 90 per cent complete tunnel and how challenging rock conditions have been mastered. It outlines briefly the remaining work which is construction of pit bottom workings where the mine infrastructure will be housed and construction of a 110 m deep, 4.0 m diameter, vertical ventilation shaft.

Jan 1, 2008

The invitation to speak today was in the form of a single sentence instruction: How does your company run and how do you communicate from top to bottom? It looks like I'll have to let you into our little secret. The team at Croesus know what works for us but we've never talked about it with others - least of all presented it at a conference such as this. In fact we tend to avoid the jargon normally associated with Best Practice or TQM, however in our own way, each of our staff are 100 per cent loyal to our company's aim to maintain and strengthen our commercial success. Just how we achieve this at Croesus is the subject of this presentation today, but first a little history. My dear old grandfather arrived in Kalgoorlie, as a mining engineer 100 years ago. Do you think he would have chuckled if someone suggested to him that a hundred years later we would just be starting to understand Kalgoorlie's geological mysteries? Well, here we are 100 years later and Croesus Mining is fortunate to be part of a generation now realising the true potential of Kalgoorlie's Goldfields. This provides us with a very fertile field in which to sow the seeds we can obtain from the World's Best Practice in Mining and Processing. With each new mineral deposit being discovered, old theories are being exploded. Each new deposit has a personality of its own, leading to some belated pioneering theories of where to drill next, and how to reduce internal costs so that we can win the war against constantly increasing external costs. What we have now and what the old timers didn't have is a huge database of geological input spanning several gold booms and a couple of nickel booms. My only interest in history is to pick up the points that may help us for our future. This is what we are doing in our company which is something of a David, in the David to Goliath range of mining companies in Australia. As a humbling thought; of the 115 164 tonnes of gold that the world's mines have produced throughout history, four tonnes have been produced by Croesus Mining. That's equivalent to 0.003 per cent of the total world's gold production. In the past financial year we achieved a dividend yield of five per cent. To put this into perspective, that's over twice the dividend yield of BHP, Australia's largest company. As we are somewhat less known than BHP, let me spend a few moments giving some particulars of our company's background.

Jan 1, 1995

By M M. M LT Tassinari, A B. Braz, L M. SantÆAgostino, C Ulsen

Several mineral resources have been recognised to alkaline igneous rocks. In general, these mineralisations present low P grades, so a complex concentration process is required to achieve commercial grade concentrates. This process is guided not only by the ore characteristics, such as apatite grain size and liberation degree, gangue minerals and slimes content, but also by different apatite varieties, iron oxi-hydroxide surface coating and roughness. The main techniques applied to apatite and phosphate ore characterisation, such as optical microscopy, cathodoluminescence (CL) microscopy, scanning electron microscopy (SEM), X-ray diffraction (XRD), Fourier-transform infrared spectroscopy (FTIR), surface techniques and magnetic separation are discussed, aiming to evaluate distinct apatite varieties and their technological behaviour.

Jan 1, 2008

By H Plewes, A Bur, L Murray, J Pottie

Water recovery from tailings for reuse in mineral processing is essential to operation of mines in the Atacama Desert of Chile. With annual rainfall of 5 mm, the prudent and efficient use of available water resources is a major issue for the Escondida Mine and other mines in the area. The Escondida Mine is located at an altitude of 3100 m, in a very arid, seismically active part of the Atacama Desert of northern Chile. The site is located about 170 km from the coastal city of Antofagasta. From 1994 to 2002, tailings were discharged into the Hamburgo Tailings Facility, which comprises a series of æpaddiesÆ located near the open pit and mill. Because water in the region is only obtainable from groundwater sources, the paddy system incorporated a number of design features with the aim to maximise water recovery from the tailings. As part of the recent mill expansion to 237 500 metric tonnes per day, a new tailings facility, the Laguna Seca Tailings Facility, projected to be one of the largest tailings facilities in the world, was commissioned in 2002. Extensive studies were conducted for the design of the new facility to predict water recovery from the conventional wet disposal of tailings. The predictions were calibrated against the performance of the Hamburgo Tailings Facility and subsequently re-calibrated against actual performance during the first year of operation at the Laguna Seca Tailings Facility. Initial operation of the Laguna Seca Facility was marked by a coincidental change in tailings characteristics from design, which highlighted the need for thoroughly understanding tailings behaviour during deposition, and the parameters and deposition techniques that could enhance water recovery. Systems have been put in place to manage the tailings deposition and respond to changes in key parameters such that water recovery targets can be reliably achieved. This paper describes the background studies that were conducted to evaluate evaporation and tailings behaviour, summarises the water balance and then presents some observations from the commissioning and start-up of the facility.

Jan 1, 2003

By Beeby C. j, Fernando W. J, Ming M. Q I, Guang Li Xi

Removal of moisture in steam-fluidized, mainly steam-heated, fluidized beds makes possible significant energy savings over conventional forms of large-scale drying. The systens are described and their applications to brown coal and alumina hydrate are reviewed. In application to brown coal the use of the system to permit meeting diurnal variation in power station output, and the use of triple-effect drying to minimise coal usage and to avoid the necessity of recovering in the turbines the energy in the steam from the last dryer are discussed. To facilitate the rapid adoption of the systems proposed, studies are being made of heat-transfer to dried coal, of moisture equilibrium in pressurized and vacuum systems, of tapered beds as a means of reducing carrier steam and permitting wider size variation, and of the use of carrier solids for drying lump materials.

Jan 1, 1989

The Ramu chromite deposit occurs in the Marum Ophiolite complex and is the most economically attractive chrom-ite deposit in Papua New Guinea. Its lateritic nickel, chromite and cobalt potential has attracted several compan-ies to prospect the deposit.In the present work, the compositions of chromite in the Ramu lateritic deposit and coexisting olivine-chromite pairs in Marum Ophiolite dunite were analysed with the electron microprobe for Fe, Mg, Cr and Al. The results were used to determine the relationship between the cations in the tetrahedral and octahedral structures of the chromite. In addition, the Fe, Mg, Cr and Al cations of the coexisting olivine-chromite pairs were used to calculate the equilibrated temperatures of crystallisation of the chromite. The variation of Fe", Mg and Cr cation values of the chromite in relation to the calculated temperatures was studied by regression analysis.

Jan 1, 1994

By Matthew SP, Hayes PC

The product morphologies formed on the reduction of dense wustite crystals are classified into three types,A) porous iron, B) porous wustite covered with dense iron and C) dense wustite covered with dense iron. The mechanisms of formation of these structures and the effects of impurity elements on the product morphologies are discussed

Jan 1, 1984

By Hayba DO

Metal-rich slurries discharged from excess-enthalpy geothermal wells at Kawerau (NZ) indicate that an efficient ore precipitation mechanism operates in some feedzones. In our conceptual model, which takes into account the relative permeabilities of liquid and gas phases in boiling fluids, a metal-precipitating liquid phase is effectively immobilised along boiling fronts, leading to the formation of highly concentrated ore. Chemical equilibrium and heat/mass transport modeling demonstrate the general applicability of this conceptual model to hydrothermal eruption environments.

Jan 1, 1995

Coal geology plays an essential role in the investigation of in situ coal seam quality. Coal geology can also play an important part in laboratory studies such as coal washing and coking, and in operating plant problems.

Jan 1, 1976

Many volcanoes in western Melanesia have tectonic settings and rock compositions that do not conform to conventional models of arc- trench systems. Part of the reason for this may be that in an environment of rapid tectonic change mantle source regions bear the imprint of former subduction even though subduction has now ceased. Results bearing on this concept and on other important aspects of Plelit nesian v ican ism and tectonics, were obtained in 1982-1986 from >e,:eral marine - geoscience studies in the re,,ii n

Jan 1, 1987

By P D. Erskine, A Hine

The current Queensland Government’s rehabilitation guidelines for post-mining landforms present a hierarchy of preferred outcomes for different areas within the mine site (see Figure 1). Within all areas, restoration of a ‘natural’ ecosystem is clearly prioritised as the preferred end land use, although it is not a mandatory practice. Beyond the official guidelines, there is also an implied preference for renaturalisation echoed in most environmental impact assessments and closure plans (Lamb, Erskine and Fletcher, 2015). In practice, however, ecosystem restoration does not extend to construction of a realistic topographic form, largely rejecting the ‘natural’ aesthetic implied by ecosystem restoration in favour of adopting a functional aesthetic in deference to standard engineering criteria.This presentation argues that the established disconnection between actual and implied landform aesthetics is indicative of a wider problem around end landform planning. It contends that such disconnects are the result of the impact of competing ‘ways of seeing’ (Bradley and Kearney, 2007) the same landscape, and reflect the struggle between, and inclusion of, these differing perspectives within the planning process itself. We propose that recognition of the complexity of landscape perceptions is key to improving post-mining landscape outcomes, and the misalignment between land use values and landscape aesthetics can be addressed by establishing an overarching framework for landscape preferences. As such, we outline the reality of stakeholder landscape preferences, and present a critical response to current planning practices within the life-of-mine (LOM).CITATION:Hine, A and Erskine, P, 2016. Recognising and integrating stakeholder landform expectations into life-of-mine planning, in Proceedings Life-of-Mine 2016 Conference, pp 154–157 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Jun 28, 2016

By L Clarke, R N. Campbell, F Bourke, J Anderson

Lithological units have been classified geotechnically with mechanical tests and discontinuity measurements from the GRD Macraes Limited, Macraes Gold Project and Rotowaro coal mine open pits, New Zealand. Using these measurements slope stability probability classifications (SSPC) have been quantified based on an adaption of Hack's (1998) SSPC system which places less influence on rock quality designation and unconfined compressive strength than previous slope/rock mass rating systems. The Hack weathering susceptibility rating has been modified by using the chemical index of alteration values from XRF major element analysis. Slaking and weathering is an important parameter in slope stability in the Waikato Coal Measures and Otago schist lithologies and hence a non-subjective method of assessing slaking/weathering in relation to the chemical index of alteration has been introduced. Other major components of this adapted SSPC system are the inclusion of rock moisture content and rock strength anisotropy effects on slope stability. This paper explains the systematic approach of using the adapted SSPC system to classify slope stability probability. The main modifications of Hack's SSPC system are the introduction of rock intact strength derived from Mohr-Coulomb failure criteria which has been adapted for varying moisture content, weathering state and confining pressure. It is suggested that the subjectivity in assessing intact rock strength within broad bands in the initial SSPC system is a major weakness of the initial system. Initial comparison of rock mass friction angles, cohesion and strengths derived from the adapted SSPC are compared with results derived from modified Hoek-Brown criteria, MRMR and SMR classification systems. The advantage of the modified SSPC system is that slope stability probability, maximum batter and overall slope height and overall slope angle for open pit walls can be predicted in addition to orientation dependent and orientation independent stability. Examples are provided, using the modified SSPC system to predict initial optimum pit slope designs in proposed greenfield mine sites.

Jan 1, 2000

By W Wu

The prospect of discrete element modelling (DEM) being used as an everyday design tool for transfer chutes in the iron ore mining industry is becoming more and more probable. However, much care needs to be taken to ensure accurate results are obtained. Whilst there are many publications in industry portraying the potential of DEM, there is little evidence of where it has been validated against a real set of experimental results. The purpose of this investigation was to gauge whether the incorporation of the physical properties of a specific bulk material at the DEM pre-processing stage can yield visually and numerically accurate simulations for a simple flow case. Effects such as irregular particle shapes, varying frictional properties and coefficients of restitution, all found through experimentation were investigated. Video analysis was used to compare simulations to real flow cases. It was found the most critical attributes in determining the accuracy of the simulations were particle shape and wall friction. Keeping the particle-to-wall friction factor constant was not sufficient to describe the flow accurately. But by introducing the varying effects of wall friction with consolidation stress, the correct results were simulated.

Jan 1, 2007

By Xueqiu H

Since the hypothesis of coal and methane outburst mechanisms based on elastic mechanics gives no consideration to time, it cannot give satisfactory explanation of the outburst occurrence and its development. A creep mathematical model of coal containing gas has been set up through creep tests and analysis under a condition of triaxial compression. Such a model can explain the phenomenon of coal and methane outbursts successfully. The tests proved that there is no essential difference between the rheological properties of prone outburst coal and non-prone outburst coal. Outburst can take place in any kind of coal if the rheological conditions of coal containing gas are met. The creep mathematical model provides a basis for establishing a comprehensive index of coal and methane outburst potential.

Jan 1, 1992

By Quast K. B

Samples of limestone and micaceous hematite have been ground in a laboratory batch mill using equal weights of either rods or balls. Values of the Schuhmann distribution modulus, a, have been shown to depend on grind time and do not remain constant as often reported. The linear reduction in a with grind time was attributed to a change in grinding mechanisms with time. The product sizing from ball milling limestone showed a bimodal distribution, but rod milling produced a unimodal size distribution. The product sizing from milling micaceous hematite was difficult to interpret due to the major influence of the shape factor on the transition from screen sizing to cyclosizing.

Jan 1, 1995

The Melanesian Outer Arc, extending from. Papua New Guinea to Fiji, developed as a result of interaction between the Australian and Pacific plates throughout the Tertiary, and the following stages are recognized. ,a, Formation of island arc tholeites above a west facing subduction zone in the Lower Tertiary. fit Emplacement of mainly calcalkaline volcanics above an east facing subduction zone in the Upper Miocene and Pliocene. ontinued east facing subduction coupled with fragmentation of the arc from the Pliocene onward. Alkaline and Mg-rich volcanism occurred in addition to continued calcalkaline activity. Tre Upper Miocene and younger volcanism is into five arc segments on the basis of geographic position and nature of the magmatism. The calcalkaline Bismarck arc extending along northern New Britain and including small islands to the west. The alkaline Tabar to Feni arc, north of New Ireland. The Solomons arc, including Bougainville and the western part of the Solomon slands. Volcanism is largely _.alcalkaline, but Mg-rich varieties occur the Solomon Islands. roe New Hebrides arc, extending from the -astern Outer Islands of the Solomons through Vanuatu. Both calcalkaline and :alkaline volcanics are representeo. alkaline and calcalkaline Fiji arc.

Jan 1, 1987

By Van Hoorn PD

For the development of BHP's Gregory open cut coal mine in Central Queensland a mini computer was successfully used to assist staff in the evaluation of the deposit and the planning of the mine. The Gregory deposit is essentially a single mineable seam deposit, however the systems developed may be applied to other coal deposits including multi seam occurences. The first phase of the Gregory computer evaluation and planning project involved the establishment of a borehole data base for the storage, retrieval and analysis of both strata and quality data. During the second phase a numeric block model of the coal deposit was created. Using this model reserve calculations were carried out by specifying the area with the aid of a digitizing tablet. The third phase involved the develop- ment of systems to simulate the dragline stripping operations including the rehandle percentage calculation, a dragline production schedule showing coal quantity and quality exposed, and a combined multi dragline operation schedule that can produce figures and graphs for up to 20 variables. A derivative of the operating plan was a programme that gave productioh cost estimates

Jan 1, 1978

By S C. Dominy

The Bendigo Goldfield is located in the state of Victoria, Australia, and is one of a number of quartz-reef fields that make up the greater Central Victorian Goldfield. At Bendigo gold particles are characterised by their very coarse nature, ranging from below 100 to over 10 000 ¦m in size. Some 60 per cent of the gold occurs in particles greater than 1000 ¦m in size. This characteristic ensures that the mineralisation is very challenging to both sample and evaluate. Diamond drilling provides a measure of geological structure, but is a poor measure of in situ grade, understating it by up to 75 per cent. Drilling combined with on-reef development, bulk sampling and geological interpretation has been used to define Indicated Mineral Resources. For grade control, a balance had to be sought between sample representivity, cost, turn around time and practicality. Sampling of extreme nugget effect deposits generally requires the use of bulk sampling in order to be representative. However, the cost and turn around time is significant. As a result, a 50 kg micro-bulk sampling system has been introduced that attempts to overcome these problems by providing a fast, practical method that can discriminate between ore and waste. As the mine passes into production, grade control will increasingly become dependent upon geological data collection and interpretation.

Jan 1, 2005