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By C. S. Erasmus, L. C. Woollacott

The distribution of gold loaded onto carbon particles from a carbon-in-pulp operation was measured by neutron activation analysis. The nature of the distribution is examined, and the implications for operating plants and CIP simulators are discussed.

Jan 1, 1992

By Z-P. Song, Z-B. Jiang, A-N. Jiang

"In deep excavations under conditions of high ground stress, even hard rock undergoes creep and other time-dependent effects that may result in instability. This study involves an analysis of the typical damage to the surrounding rock in the deep tunnels of the Jinchuan nickel mine in China. In order to understand the creep mechanism, triaxial creep laboratory tests were conducted under high stress. The creep characteristic curves and the Nishihara model parameters of typical rock were obtained from these tests. The numerical simulations, with which the creep model is developed, were performed using Flac3D. The creep model parameters were back-analysed on the basis of field monitoring data. Finally, appropriate support schemes for deep tunnels are suggested. The creep deformation of rock increases with time and axial load. At the same load level, the creep deformation of unloading is greater than that of loading. The simulated deformations of the surrounding rock are coincident with those from in situ monitoring, indicating the applicability of the presented rock creep model in situations of high ground stress. The results constitute a reference for support design in deep mining tunnels.IntroductionThe excavation of underground caverns can alter the natural stress field of the surrounding rock. In deep engineering projects under conditions of high ground stress, even hard rock shows obvious creep properties and time effects (Yao, 2005; Liu, 1994). The time effect of excavation not only causes decompression of the floor and increases sidewall stress, but also leads to stress concentration at the corners of the excavation, which influences the stability of the surrounding rock in a very complex manner.Many researchers have studied the creep properties of rock. ‘Griggs (1939) showed that creep occurs in sandstone, shale, and silty sandstone rock under the load of 12.5%–80% of the failure load.’ Subsequently, much research has been published on rock creep tests, including the uniaxial compressive creep test, the triaxial compressive creep test, the discontinuity rock shearing test, and field tests (Wawersik, 1974; Amadei et al., 1980; Okubo et al., 1991; Jin et al.,1995). A rheological model is used to describe the complex rheological deformation of material. This model is based on various fundamental parameters including rock elasticity, plasticity, and viscous properties, which can be combined into a constitutive model to reflect the rheological properties of various types of rocks. Wang et al. (2014) studied the creep– damage–rupture characteristics of rock salt by applying a creep-damage model. Munson (1997) developed a multi-mechanism constitutive model of creep of polycrystalline rock salt based on steady-state creep and modified it to incorporate transient creep through work hardening and recovery. An elasto-viscoplastic approach was developed to simulate the timedependent nature of the fracture zone (Malan, 1999). Rheological models were proposed to understand the collapse of iron ore mines in Lorraine by Dragan et al. (2003)."

Jan 1, 2016

By A. Whillier

Recommendations are given for the design of vertical cooling towers for use underground in mines and a method is given for predicting the entering and leaving water temperatures when a given amount of heat has to be dissipated.

By E. L. Thyse, P. Bepswa

The Western Cape Mineral Processing Facility (WCMPF) is a collaborative educational initiative between the Department of Process Engineering at the University of Stellenbosch and the Chemical Engineering Departments at the University of Cape Town and the Cape Peninsula University of Technology. The primary objective of the WCMPF is to facilitate the education, development and graduation of suitably qualified engineering graduates and diplomats for the mining and mineral processing industries. In recent years the WCMPF has embarked on a number of initiatives aimed at improving the quality of mineral processing education which include, more importantly the introduction of novel ?end to end? or ?integrated? practicals. The practicals are developed around a specific mineral theme or route, which more than often includes the development of several new pilot plant practicals demonstrating key unit operations or processes in the selected mineral theme or route. The most recent mineral processing pilot plant practical programme is developed around the beneficiation of heavy mineral sands. The programme consist of the following developed pilotplant practicals: the online electrostatic separation of free flowing mineral sands using a Roche Mining Carrara high tension roll separator incorporating a Blue Cube Systems MQi in-line mineral quantifier; the production of titania-rich slag and pig iron from the smelting of ilmenite and anthracite in a 60 kW direct current (DC) plasma arc furnace as well as the mineralogical characterization of the feed and products; the continuous closed-circuit ball milling and screen classification of titania-rich slag. This paper illustrates the important role of a well-designed heavy mineral sands beneficiation pilot plant practical programme in facilitating the education and development of suitably qualified personnel for the mining and mineral process industries.

Jan 1, 2007

By M. Timusk

"The working environment for ground support installation in mines has improved during the last 20–30 years, with more mechanized equipment for installation of ground support elements such as bolts, cable bolts, and screens. Ground support installation productivity has, however, not followed the same development curve, remaining more or less constant. In some cases, for example the mechanized installation of bolts, productivity has even dropped. One reason for this is that modern mechanized bolt rigs are complex. In this paper we evaluate manual and mechanized ground support systems, propose a way to measure the productivity of bolt rigs, and make relevant comparisons between different mines and equipment. Some productivity measures for rock reinforcement are suggested, using productivity results from eight case study mines.IntroductionTo improve safety for operators and equipment underground, ground support systems (bolts, screens, etc.) are installed in mines to stabilize the rock mass (Hoek, Kaiser, and Bawden, 1995). Important questions to ask when selecting a ground support system include where ground stability problems are located, why they have occurred, how problems should be addressed, and when and how the ground support system should be installed (Hadjigeorgiou and Potvin, 2011). The performance of bolting and screening operations in underground mines is important for both safety and productivity reasons. With greater mine depths and an increasing focus on safety, ground support has become a significant bottleneck in the production process of many mines.Many factors play a role in establishing safe and stable underground structures. Equally, there are several factors to consider in productivity, including the mining method, organization, logistics, mechanization level, and procedures. Today, most mines in Scandinavia have changed from manual to mechanized bolting, as this improves operator safety and arguably boosts net capacity. Internationally, however, manual installation of bolts remains common, with some claiming that manual installation is more productive (Bawden, 2011)."

Jan 1, 2016

By D. J. Adams, R. G. Gürtunca

CONTRIBUTION BYJ.F. CURTlS The paper, which in an exemplary manner records the monitoring of backfill behaviour, falls short in the 'rock engineering' stated in the title. Just what the objective of the rock engineering was is obscure.

Jan 1, 1992

By A. P. L. Kotzé

This paper gives a brief description of the control measures used in the establishment of the Grootegeluk Coal Mine, near Ellisras in the Transvaal. Specific reference is made to the planning offunds, cost and financial control, and economic evaluation.

Jan 1, 1982

"Chairman: Dr W. S. RAPSON Rapporteur: Mr J. W. WILSONPapers:Computer applications in rock mechanics by F. H. Deist, E. Georgiadis and J. P. E. Moris Rock mechanics in the design of mine layouts by K. Hodgson and N. G. W. Cook Automated regulation of mine ventilation by P. NiskanenThe rock mechanics papers, because of their complementary nature, were presented in succession and discussion on both followed directly. The paper on automated ventilation control at a mine in Finland was then presented and the session was closed with several contributions to this paper.By and large the papers and discussions which followed in this session showed how a classic tie-up had developed between the use of computing techniques in important fields of mining, and their practical application. In fact, the dis-cussion following the rock mechanics papers showed clearly that without the aid of high-speed digital computers the rate of progress in applied research in deep-level hard-rock mines, would have been severely hindered. Furthermore, it became apparent from the comments made by several contributors that the rock mechanics techniques and computer progress described in Deist's and Cook's papers could be used to provide useful data in the solving of rock mechanics and design problems on mines other than flat dipping deep tabular deposits.The paper by Niskanen, which described an automated ventilation control system at a mine in Finland, showed how effective computers could be in areas where the reversal of mine ventilation occurs due to severe seasonal temperature ranges. Although the system described in the paper could not be introduced easily in complex underground mines, several contributors gave examples of similar ventilation problems that could be solved mechanically,In introducing his paper, Dr Deist said that the purpose of the paper was to give a brief account of some of the programs designed by himself and his co-authors to aid in the solution of rock mechanics problems,The first system presented by Dr Deist was known as MINSIM in the South African mining circles. This system was designed specifically to aid in the solution of rock mechanics problems in the South African gold mining industry. It was particularly designed to handle tabular deposits at great depth but it has been used satisfactorily on a number of occasions to obtain at least approximate solutions in other mining situations. Dr Deist said that the principles embodied in the programs were easily extended and, in fact, there was a project in progress at that time which was aimed to do this. He said that the principles could easily be extended to shallow-depth mining at steep or very steep inclinations."

Jan 1, 2014

This volume, which was advertised in the December, 1968, issue of the Journal at a pre-publication price of £4, is edited by W. Ryan of Warren Spring Laboratory and published by the Institute of Mining and Metallurgy, London. It is an up-to-date review of the operations of some 50 or so companies whose activities embrace the extraction and refinement of metals in the United Kingdom. Thirty-four metals are discussed, ranging from aluminium to zirconium and also there are chapters on ferro-alloys, non-ferrous alloys, high purity metals and metalloids, the platinum group metals and the rare earths. The sources of the various metals are given, followed generally by a brief description of the primary recovery process. Thereafter the operations of specific companies that deal in a particular metal are described in some detail. Certain metals such as barium, bismuth, gallium, thallium and zirconium are perforce covered very briefly as their commercial application is limited but in other cases, especially aluminium, copper lead and zinc, fairly detailed descriptions and illustrations are provided. This publication should be of considerable value to students as it presents modern procedures with regard to the refining and uses of the particular metals under review. This information may not be available from text books which in any case tend towards obsolescence. The book should also prove a valuable addition to the bookshelves of practising metallurgists providing, as it does, a schedule of most of the metallurgical companies operating in the United Kingdom. The quality of the paper and binding, the clarity of printing and illustrations and the arrangement of the subject matter are excellent and are subjects for which the editor and publishers are to be commended. R.J.A.

By L. N. Stewart, H. L. Bovey

Since 1955 extensive pressure-leaching testwork has been conducted by Anglo American Research Laboratories (AARL) in laboratory-scale batch autoclaves. In 1958asmall continuous pilot-plantof45 kgofsolids per hourwas operated by AARL. In 1974, when high uranium prices were anticipated, Anglo American, encouraged by successful commercial- scale autoclave operations as practised by Outokumpu, Sherritt Gordon, and Impala Platinum, decided to install a continuous pilot plant at Western Deep Levels. At that time the proposed pilot plant was considered to be of prototype size. The project was funded by members of the Nuclear Fuels Corporation (Nufcor). Since its commissioning in February 1977, the pilot plant at Western Deep Levels, which can treat between 10 and 20 tons of dry solids per hour, has been used to test ores from four different mines. The paper compares the uranium extractions and pyrite oxidation obtained in laboratory batch autoclaves with those obtained in the continuous pilot plant. In general, differences in uranium extraction are not great and can be explained; the differences in pyrite oxidation are less well understood. The effect on plant design of the evolution of carbon dioxide during leaching is discussed. Evaluation of the equipment and materials of construction would have been almost impossible in a small-scale batch autoclave. It is doubtful whether such results would have generated the necessary confidence to permit decisions to install a commercial-size plant. The development and performance of the multistage pumps, instrumentation, shaft seals, and shaft-seal water treatment are discussed. It is concluded that the operation of a largescale continuous pressure-leaching pilot plant to supplement laboratory batch autoclave tests has been a necessary part of the development of this process.

Jan 1, 1979

By C. J. Badenhorst

Occupational illnesses and diseases tend to be chronic and are generally characterized by temporary or permanent physical dysfunction. With the exception of some symptoms, they are not generally visible. Therefore, safety overrides health in mining because occupational ailments take years to develop and management observes less physical trauma, if they witness anything at all. Occupational health issues need to be addressed systematically, encompassing all aspects of the interaction of employees within the work environment. Risk assessment is central to the management of occupational health. This should not be seen as a complex process and may involve little more than simply considering the consequences of one?s actions before starting work. Competent risk assessment provides the starting point and defines the scope of further action. The objectives and final use of an occupational health risk assessment determine the process and the method by which it is carried out. The occupational health risk assessment is therefore a systematic procedure to identify potential health hazards, evaluate the extent of exposure subjectively and/or objectively, and to establish the need for, and effectiveness of existing control measures. Furthermore, it facilitates the drafting of occupational exposure monitoring, medical surveillance and occupational health education programmes. Various models for conducting occupational health risk assessment provide step-by-step guidance for the identification and assessment of significant occupational health hazards and assist in producing suitable and significant occupational health risk assessments. The paper gives an overview of an occupational health risk assessment model based on the basic principles of occupational health and the legislative requirements, which will simplify the occupational health risk assessment process and ensure a sound base for the development of all other occupational health systems.

Jan 1, 2004

By Z. G. He, S. H. Chen, P. Egger

A new model for hollow rock bolts which comprises rock material, hollow bolt material, bolt/rock interface, is developed on the base of the composite element method (CEM). The main advantage of the new model is that it can be incorporated into the conventional finite element analysis. So the mesh generation of bolted rock structures becomes more convenient and feasible, which is very important in the optimisation of reinforcement design: the mesh can be kept unchanged when the number and orientation of bolts are adjusted. The comparison of the calculation results with a conventional FE approach shows the robustness of the proposed method. Un nouveau modèle numérique de boulons creux comprenant la roche, le matériau du boulon creux et l’interface roche / boulon est développé sur la base de la méthode des éléments composites (CEM). L’avantage principal du nouveau modèle est la possibilité de l’incorporer dans une analyse aux éléments finis conventionnelle. Ainsi la génération du maillage d’une structure rocheuse ancrée devient plus simple ce qui est très important pour une optimisation du projet : en cas d’ajustement du nombre et de l’orientation des boulons, le maillage reste inchangé. La comparaison de résultats de calcul avec ceux obtenus par un code aux éléments finis conventionnel montre la robustesse de la méthode proposée. Auf der Grundlage der Verbund-Element-Methode (CEM) wird ein neues Modell für hohle Reibungsanker entwickelt, das den Fels, das Ankermaterial und die Kontaktfläche Fels / Anker umfasst. Der Hauptvorteil des neuen Modells ist die Möglichkeit, es in eine konventionelle FE-Analyse einzubetten. So wird die Netz-Generierung für verankerte Fels-Bauwerke einfacher, was für die Optimierung des Verankerungs-Projekts von Wichtigkeit ist: wenn Zahl und Orientierung der Anker variiert werden, bleibt das Netz unverändert. Der Vergleich von Rechenergebnissen mit solchen aus einer konventionellen FE-Rechnung zeigen die Robustheit der vorgestellten Methode.

Jan 1, 2003

By L. P. Fatti

An important feature affecting the classification of a remotely sensed scene is that the data are, in general, spatially correlated. Various approaches are discussed towards incorporating the correlation between neighbouring pixels when they are classified on the basis of their spectral reflectance data.

Jan 1, 1987

By P. van der Westhuyzen

Gone are the days of stock-standard diamond beneficiation and final recovery circuits that could, with minor modifications, be adapted to treat any diamond-bearing ore source. A new era has dawned, offering the opportunity to streamline existing diamond processing operations or develop simpler, more efficient, and economical diamond processing plants, with the focus on more efficient comminution, beneficiation, and final recovery. This change in scene has been brought about by: ? The introduction, rapid development, and maturation of multiple comminution, sorting, and recovery technologies ? The need to adapt to a new standard of project approach post the commodity super-cycle phase, where optimizing existing operations and developing scalable, ?fit for purpose? new mines are fast becoming the norm in diamond processing plants in both primary and alluvial operations ? The quest for energy efficiency and lower labour costs ? More remote and inaccessible reserves (under lakes, tops of mountains etc.). This paper serves to identify some technology advances and demonstrates how these could be considered as replacements for or in combination with conventional technologies to arrive at an optimum techno-economic solution. To name a few applications/technologies: ? Comminution: conventional cone crusher, modified/specialized cone crusher, and the high-pressure grinding roll (HPGR). Although significant advances have been made in recent years, this paper only briefly covers comminution within the beneficiation circuit design ? Waste sorting: NIR (near-infrared) sorting, optical (colour) sorting, XRF (X-ray fluorescence) ? Primary concentration by combining dense media separation (DMS) with either XRT (X-ray transmissive), pulsed X-ray, jigs, or pan plants depending on the application, scale, and economics ? Final recovery of diamonds with either conventional X-ray technology, pulsed X-ray technology, or XRT. From recent studies, it can be concluded that there is no longer a standard solution, but rather the ?right? or appropriate solution. Through combining a sound knowledge of the ore source (ore dressing studies or onmine data gathering) and leveraging off the advances in technologies, one is able, through trade-off studies, to arrive at the ultimate techno-economic configuration, the ?right? solution. Emphasis is placed on maximizing diamond recoveries through appropriate technology selection and minimizing the associated costs in an effort to de-bottleneck or improve efficiencies of existing diamond processing plants, or to arrive at the ideal new diamond process plant design..

Jan 1, 2014

By B. Strohmeier

An account is given of the use of a computer to control the performance of three ultra-high-powered electric-arc furnaces in Iscor 5 steelmaking plant at Vanderbijlpark, South Africa. Several of the reports and graphs printed by the computer are reproduced.

Jan 1, 1985

By M. Arnesen

Mining professionals recognize the need to continuously evaluate and refine mine planning standards and scheduling. We must examine our current reality, and evaluate the following: •How well do our planning standards represent the actual mining process? •To what extent do they support the requirements of the downstream mining activities? •How we apply them to operational management and control? In most operations, mine-planning standards are global averages. Little differentiation is madein quantifying key planning variables. Often standards used in the long-term, are applied to the short-term, and the standards and scheduling precedents are only reviewed occasionally. Mine-planning standards applied to production schedules are often only focused on the management of functional mining performance, and play no role in managing the requirements of down stream processing. Many mining operations are characterized by high levels of fluctuation, and typically incorporate a wide range of factors and adjustments to compensate for deviations from performance targets, in mining operations as well as for the other business areas. The reason for using global averages is because of a lack of understanding of the causes of deviations that occur through the process, and the impact that they may have on the performance of the business as a whole. Average standards and factors are often used to quantify the variability in a system. From these average values, measurement standards and performance targets are derived for the planning and execution environments. During the execution of a plan/schedule there will be deviation in actual performance and the planned ‘average’ standards. In reality the ‘average’ conditions seldom occur and the impact of variability and interdependency are seldom constant or predictable. The predictability of variability and interdependency is further complicated by the fact that mining conditions have a role to play in the actual production performance, and they too are variable. By developing the throughput knowledge of our production systems, we can better understand the nature of variability and the interdependency within the systems as well as the impact of interdependency between the links in our production chains. With this knowledge, planning standards and scheduling precedents can be better defined and sensibly differentiated. This will improve planning and management of ore utilization, mining production and the effectiveness of processing. As a result the business will be more stable and predictable and business performance will be improved. The purpose of this paper is to describe: •At a high level, the scope for refining and differentiation in mine planning standards, and incorporating geological and plant parameters into mine scheduling. This will improve planning and scheduling and the overall performance of the mine. Given our current level of scientific knowledge and the technological tools at our disposal we should be able to plan and schedule production so that we can manage pro-actively and improve business performance. In doing so we can also improve reconciliation and value tracking through mining and processing •The flexibility and functionality of the XPAC planning and scheduling tool that will enable a throughput management approach.

Jan 1, 2003

By M. J. Kanda

"The design of rock slopes in the planning and operation of open pit mines and for road and rail cuttings requires the evaluation of their stability. This is commonly done using two well-established methods – limit equilibrium and numerical modelling. The research described in this paper compares the outputs of analyses using these two methods with regard to factor of safety and probability of failure, taking into account technical factors associated with each method and other factors such as material parameters and their variabilities. Results show that technical factors such as number of slices and slip circles, number and type of finite elements, and the stress reduction factor can all affect the results of stability analyses. Factors not taken into account in limit equilibrium analyses, such as dilation, in situ stress, and locked-in stresses can affect the outputs significantly. The research has focused particularly on the predicted location of the failure surface, the resulting volume of failure and, most significantly dependent on this volume, the predicted risk associated with slope failure. The results presented show that there is good agreement between the outputs of the two methods regarding factor of safety and probability of failure. However, the same is not the case with regard to volume of failure and hence risk, which can be very dependent on the methods of analysis and their input parameters. The research is not exhaustive, and there are many other factors that could affect the results of slope stability analyses that were not investigated. Some such factors are mentioned in the paper.IntroductionThe design of rock slopes in the planning and operation of open pit mines and for road and rail cuttings requires the evaluation of their stability. The traditional method of stability analysis used limit equilibrium (LE) methods, and this approach continues to be used. Numerical modelling (NM) packages are now also commonly used in slope stability analyses. The outputs from these analyses provide the factor of safety (FOS) and probability of failure (POF) of the slope. Since the capabilities of the two approaches are different, there can be some variations in FOS and POF outputs and in the predicted location of the failure surface. These variations can affect the predicted volume of failure, and this could in turn have a significant effect on the risk associated with the potential failure (Read and Stacey, 2009). Researchers such as Chiwaye and Stacey (2010) have found that LE analyses underestimate the predicted failure volume, unlike NM methods."

Jan 1, 2016

By S. Pathak, B. Nilsen

Abstract: In recent years, probabilistic approach with the calculation of probability of failure instead of a factor of safety against failure is emerging in practice. The main objective of the paper is to discuss a probabilistic approach in rock slope stability analysis for Himalayan conditions. Due to the fragile geology brought about by the tectonic movements along the hill slopes, dramatic variations of the topography and intensive surface runoff during every monsoon season, serious slope failures occur frequently in Himalayan region. Slope failures have also been triggered by seismic activities. The probabilistic approach is applied to stability analysis for a road cut along the Desander back slope of the Kali Gandaki hydropower project in Nepal. It is concluded that the probability approach offers a more accurate grasp of the actual condition than any factor of safety. Zusammenfassung: In den letzten Jahren ist es mehr gewöhnlich geworden, ein stochastisches Verfahren und eine Berechnung von der Wahrscheinlichkeit eines Zusammenbruchs statt einer Berechnung von Sicherheitsfaktoren zu verwenden. Das Hauptziel dieses Artikels ist das stochastische Verfahren in Stabilitätsanalyse von Gebirghängen, welches an Himalayische Verhältnisse angewandt worden ist, zu diskutieren. Wegen der spröden Geologie die durch tektonische Bewegungen entstanden ist und den dramatischen topographischen Variationen sowie viel Oberflächenwasser während des Monsuns, kommen in der Region des Himalayas oft mehrere erhebliche Abhangszusammenbrüche vor. Abhangszusammenbruche ist auch von seismische Aktivität ausgelöst worden. Das stochastisches Verfahren ist auch benutzt worden, um die Stabilität von einem Wegschnitt in dem Desander Gebiet von dem Kali Gandaki Wasserwerk-Projekt zu analysieren. Die schlussfolgerung ist, dass die Ergebnisse eines stochastisches Verfahren die wirkliche Verhältnisse eines Abhangs besser beschreibt als der Sicherheitsfaktor. Résumé:- Ces dernières années, une approche probabiliste basée sur le calcul d’une probabilité de cassure au lieu d’un facteur de sécurité préventif d’une cassure est de plus en plus utilisée. L’objectif principal de ce papier est de discuter une approche probabiliste de la stabilité de versants rocheux en himalaya. Due à la fragile géologie causée par les mouvements tectoniques sur les versants de collines, aux dramatiques variations de topographie, ainsi qu’au lessivage intense du relief à chaque mousson, de sérieux glissements de terrains se produisent fréquemment en Himalaya. Les glissements de terrain sont aussi déclenchés par l’activité sismique. Cette approche probabiliste est appliquée aux analyses de stabilité d’une section de route le long du versant arrière Desander du projet « hydropower » du Kali Gandaki au Népal. On en conclut que l’approche probabiliste offre une estimation plus précise des conditions actuelles que n’importe quel facteur de sécurité.

Jan 1, 2003

By C. Nangolo

Mineral commodity prices comprise one of the key criteria in the selection of mining stocks. We contend that of the three principal elements of mineral commodity prices, spot price, forward price and long-term price, one has a greater impact on the share valuation processes used by investors. This research paper examines the extent to which each of these elements influences the valuation process. The intention is to provide investors in mining stocks with a greater understanding of how fluctuations of commodity prices over time affect the prices of the mining stocks they hold, or intend to sell or buy. Three mineral commodities, gold, silver, and copper, were used as case studies, since market data on these commodities is readily available in the public domain. Nine market indices covering all three mineral commodities were selected. These are based on clearly defined criteria with the intention of eliminating ambiguity and to test for correlation with the three sets of mineral commodity prices. Nine mining companies, which were not the primary drivers of the relevant indices employed in the study, were used to validate the results obtained from the indices in order to avoid duplication of the same correlation during cross-checking. Each commodity price was adjusted for operating costs. For each market index, an average operating cost was calculated from the companies comprising its basket, while each company?s annual operating costs were used for the stocks of the individual companies examined. The data was collected for the period January 2004 to October 2010. This period was further split up into three sub-periods to account for the Global Financial Crisis (GFC) period that started in mid-2008. We conclude that mining stock prices are correlated with mineral commodity prices, but with spot and forward prices exhibiting stronger correlations than long-term price. This finding should be useful for evaluation purposes. Where cash flow methodologies such as discounted cash flow or earnings per share are used to value ordinary shares and commodity prices are required to estimate future cash flows, the findings suggest that spot prices should be used as opposed to long-term prices. The work reported in this paper is part of a current MSc research study at the University of the Witwatersrand.

Jan 1, 2011

By P. F. Ledwaba

"Artisanal and small-scale mining (ASM) in South Africa received official recognition after the change in government in 1994.The Reconstruction and Development Programme (RDP) recognized the sector as a vehicle for social and economic development for historically disadvantaged South Africans (HDSAs) who had previously been excluded from participating in the mainstream economy. Having recognized the ASM sector, government introduced several interventions and support structures to foster the development of ASM, to encourage participation of HDSAs, and to address challenges facing the sector. The objective of this paper is to assess the progress made, with particular regard to challenges in the sector. The paper focuses on the policy requirements that were deemed important for the growth of the ASM sector by the White Paper on Minerals and Mining Policy (1998). These can be collated into five categories: access to mineral rights, access to finance, access to markets, technology and skills, and institutional support. The paper provides a review of the support interventions, their intended roles and impact on the sector, and identifies existing gaps and possible ways of dealing with the challenges. There is a need for research to assess the real impact of these past and existing interventions on the ASM sector to draw lessons for future development.IntroductionThe significant rise in artisanal and smallscale mining (ASM) activities worldwide has led to many countries recognizing the sector. ASM takes place in approximately 80 countries (World Bank, 2013). It is estimated that the sector employs between 20 and 30 million people around the world (Buxton, 2013). This compares to between 3 and 3.7 million in 1999 (International Labour Organization, 1999). ASM activities are widespread, occurring mostly in developing countries in Africa, Asia, Oceania, and Central and South America (World Bank, 2013). There has been a significant increase in the number of people participating both directly and indirectly in the sector and this is expected to continue given the socio-economic realities of most developing countries. High levels of poverty and unemployment and growing inequality continue to be largest problems facing the majority of developing countries today. The ASM sector plays an important role as a source of livelihoods, particularly for those residing in rural areas with limited economic opportunities. In the majority of countries, the recognition of the ASM sector was driven by its increasing contribution to socio-economic development through job creation, poverty alleviation, and rural development. In response, a number of intervention strategies were introduced in support of the sector to address its negative impacts and to increase its potential benefits."

Jan 1, 2017