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By Harper F

This paper outlines the authors' views of the methodologies which can be employed to value mineral properties at different stages of development for the purposes of project financing, mergers and public floats. This paper discusses the key issues in Discounted Cash Flow (DCF) analysis including the importance of data verification and the shortcomings in DCF analysis. Stockmarket valuation measures and valuation methodology for exploration and pre development projects are examined through examples and pitfalls are identified. The use of valuations in corporate transactions and their strategic value is also discussed.

Jan 1, 1994

A low grade, refractory ore gold mine with high striping ratio such as at Macraes is always challenged in ways to improve margins. Common practice approaches used at OceanaGold Ltd Macraes are to maximise grade delivery, optimise recovery and reduce unit costs, as well as take any opportunities to incorporate new technologies and implement enhanced commercial strategies.   The Business Improvement (BI) programme was implemented across the Macraes operations in late 2003 and is being rolled-out to all other parts of the business. The core focus of BI at OGL is to: +        increase revenue, +        reduce cost, and +        improve processes.   A dedicated BI team comprising of a manager, team leaders and business analysts were engaged to identify and manage a series of opportunities to reduce operating expenses, optimise capital outlays and generate extra revenue. The Business Improvement Programme, though in its formative phase, has begun a cultural change within the organisation. Many people are starting to challenge the way they do things and are looking for ways to continually improve business performance.   The BI team encompasses individuals from different departments who can offer the diverse skill set necessary to produce intended results. The current team is made up of a BI manager, BI Team Leaders in Mining and Processing and analysts from Mining, Processing, Commercial and Plant Maintenance workgroups. A team member has recently been formally trained as a Six Sigma Black Belt. ] The BIÆs team role is to assist in the establishment of project management processes for each improvement idea. In addition the team will assist in tracking implementation, identifying and unblocking restrictions and limitations as well as setting up metrics to quantify the level of benefit returned and sustained.   From a more strategic point of view, the BI team is advancing the Business Improvement capability of the company by developing long term Communication and Training strategies. These strategies will set the direction of BI initiatives in the years to come to: +        educate the OGL workforce in basic BI techniques, +        assist the OGL workforce in applying basic BI techniques, +        communication the direction of BI in OGL, and +        close the information feedback loop to facilitate transparent communication between the OGL workforce and the BI team.

Jan 1, 2004

By J Coombes, R Sterk

The efficiency of the Australian and New Zealand stock exchanges relies on a fully informed market: shareholders and investors are fully and transparently informed of all material information relating to the shares. These principles of transparency and materiality are similarly core to the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (the JORC Code). The JORC (Joint Ore Reserves Committee) Code also includes a principle of competency to ensure that the person providing the material information for public disclosure is suitably qualified and experienced.Since its inclusion into the ASX (Australian Securities Exchange) Listing rules in 1989, the JORC Code has continually improved and evolved in attempts to meet the market’s need for competent, transparent and informed disclosure. The quality and effectiveness of Public Reporting in accordance with the JORC Code is under constant challenge: some practitioners argue there is insufficient regulation, while others argue the need for greater self-regulation.This paper contributes to that discourse by exploring how well the Reporting expectations are met, and, whether Public Reporting in accordance with the JORC Code has a material impact on share-price movement.CITATION:Sterk, R and Coombes, J, 2017. Public reporting – new standards or no standards?, in Proceedings Tenth International Mining Geology Conference 2017, pp 423–432 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Sep 20, 2017

The Fosterville Goldmine in Victoria employs bacterial oxidation (BIOX« Process) to liberate gold from its flotation concentrate. Gold occurrence is primarily as submicron particles in pyrite and arsenopyrite and has been described as being in æsolid solutionÆ and therefore not amenable to direct cyanidation even with fine grinding. Once liberated by the oxidation process, the gold is then available for cyanide leaching. While the oxidation process is very effective, it has been found that a portion of the liberated gold can become suspended in the liquid phase in what appears to be a colloidal state. This liquid becomes a waste stream during washing of the oxidised solids and the suspended gold is therefore lost. This paper discusses investigations into the causes of the loss and also describes the successful use of quebracho tannin in reducing colloidal gold loss. Laboratory and subsequent plant trials, showed a gain of 2.6 per cent in overall gold recovery based on mill feed and waste stream data.

Jan 1, 2009

By Takasaki Y, Ohzeki S, Hotta H

TO measure high temperature properties of blast furnace burdens ( the change of gas permeability accompanied by contraction, soft- ening and melting ) which govern the gas flow and its distribution, a series of experiments were carried out under simulated blast furnace conditions, using sinter, acid pellets and self -fluxing pellets. 1) The high temperature properties are affected by the ore's reducibility ( up to 1000 -1200¦C ), and the composition, and volume of gangue before reduction. Generally, the burde- ns with high basicity ( Ca0/Si02 ), high reduc- ibility and low volume of gangue have good high temperature properties. Good high temperature properties are : a high temperature at which the gas permeability rapidly decreases, a high melting point and a low maximum pressure drop. 2) Using acid pellets, slow-down of red- uction rate occurs around 1000¦C because the pellet forms a dense metallic shell, while its slag core, resulting from a FeO, Si02 and A1203 reaction, has a lower melting point. 3) The addition of MgO sources improves high temperature properties both of sinter and Pellets.

Jan 1, 1980

This paper has been developed for æThe Race for SpaceÆ conference. It ranges over various aspects, all of which are within the umbrella of marketing. The question is posed because many engineers, tunnelling and other specialisations, frequently demonstrate an unwillingness to embrace marketing. The accurate reply is probably à ænot an engineer!Æ The paper identifies some of the possible explanations for this reply. The vast majority of the themes, ideas and principles are based on more than 25 years actual experience for the author with Engineers, Tunnelling and other disciplines. This experience has been gained with leading consulting engineering practices; some of the worldÆs largest construction contractors together with other organisations employing engineers in the public, private and tertiary sectors in the UK; US; Europe; the Middle East and throughout Australia and New Zealand. Experience has been gained in design offices; head offices and construction job sites in four contrasting continents. The most significant themes developed throughout this paper are as follows:æLetÆs go and do some ærealÆ work and leave the marketing to others!ÆæMarketing is just a æsoftÆ option and neither technically based nor true management!ÆNIMBY-ism (Not In My Back Yard) so leave well alone!Engineers regularly confuse services marketing -v- product marketing à a useful cop out, or a genuine cry for help?Marketing databasesæLetÆs get rid of the term æsellingÆ and replace it with the more acceptable à and less distracting for tunnelling engineers à 'marketingÆDistinction between benefits and features à in The Race for SpaceSales Comprehension Test, Benchmarking TestJack WelshÆs æmost difficult decision for a CEOÆHarvard Business ReviewÆs (HBRÆs) formula for performanceMany engineers are losing the balance in their lives Sustainable development and engineering æQuality work doesnÆt mean quality serviceÆMajor recommendationsRecommended references

Jan 1, 1999

By G Britton, P Moynagh

As more than a few mines gradually sink under the weight of emails, whiteboards, notice boards and ever more complex spreadsheets, the holy grail of effective short-term interval planning and control in underground mines is as far away as ever. Despite the mining industry investing ever greater amounts in planning and Enterprise Resource Planning systems, short-term plans become ever more complex and rigid. What the industry desperately needs are not more ‘disembodied voices down the speaking tubes’, but flexible and effective planning systems that encourage people to make reasonable commitments to each other so that everyone can work as a coordinated team to complete the work required each shift.One solution to the challenge has emerged. This paper describes the ‘Fewzion’ shift planning and short interval control system which has been developed at Anglo American’s Moranbah North and Glencore’s Oaky Creek coalmines in Central Queensland. Fewzion has drawn on management theory embodied in Management Operating Systems, Lean and Theory of Constraints approaches to continuous improvement to play a key role in both mines achieving record breaking tonnages.In addition to explaining the Fewzion approach, a case study is presented describing how Anglo American’s Moranbah North improved production by 39 per cent in 2014/2015 and won ‘Coalmine of the Year’ two out of the last four years and how Glencore’s Oaky Creek sustainably improved monthly development meters by 34 per cent within two months of implementing Fewzion.CITATION:Moynagh, P and Britton, G, 2017. How a frontline planning and commitment system improves trust, commitment and results in operations, in Proceedings 13th AusIMM Underground Operators’ Conference 2017, pp 235–240 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Oct 16, 2017

By A Price, D Okle, K Brooks

The operation of flotation plants has been improved over the years by use of fundamentally based design techniques, a better understanding of reagent chemistry, online metal analysis and the use of digital control systems. However, optimal operation of flotation banks is not consistently achieved using manual operation. The reason for this is that the system is a highly interacting one, with changes in air addition, cell interface level and reagent dosages all being available, without it necessarily being clear as to which change should be made for a particular situation.This situation is made more complex by the fact that the feed to a flotation bank can vary in flowrate, composition and density over a fairly short period of time. It is not possible for a human operator to reject these disturbances, given the extent of the operation that is typically being monitored.Model predictive control (MPC) is a control and optimisation technique, developed in the oil refining industry, that aims to manage just such interacting multiple input multiple output (MIMO) systems. This technology makes use of linear dynamic models of the plant, that are experimentally derived. These models are then used in a receding horizon strategy to determine an optimal trajectory of the inputs to the system.MPC has been applied to four areas of the lead zinc flotation unit at Mount Isa mines. A total of 31 cells are being controlled by the system, which varies air to the cells, levels and reagent addition on a minute-by minute basis. The MPC controls concentrate and tail grades, reagent dosages, as well as recoveries to ranges set by the plant metallurgists.The development of the MPCs is discussed, together with the benefits realised. The key factors in insuring an ongoing return on investment are described.CITATION:Price, A, Okle, D and Brooks, K, 2018. Glencore Mount Isa lead zinc flotation circuit – experiences from the implementation of model predictive control, in Proceedings 14th AusIMM Mill Operators' Conference 2018, pp 101–110 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Aug 29, 2018

By F C. D Michelin

Blast fumes are a significant health risk to underground workers, containing several dangerous gases such as carbon monoxide (CO), nitrogen oxides (NOx) and ammonia. To ensure safe working conditions, workers are not normally allowed to re-enter a mine until the gases are cleared. To predict if gases can be cleared efficiently, simulations can be performed to estimate the gas levels following a blast. For accurate modelling, a calibrated airflow simulation is required in addition to blast-specific parameters such as the yield rate (representing the amount of gas released per kg of explosive) and the dispersion factor (representing how quickly the gases can enter the air stream from the explosive site). Those parameters are not easily determined, as they will vary from blast to blast. Many post-blast gas recordings on mine sites were studied and the correct parameters were determined to ensure an accurate gas simulation. The variability of the results was then analysed and correlation to known parameters is suggested. Finally, recommendations on how to determine the correct parameter are presented.

Oct 12, 2022

The sulphide ores of the Kalgoorlie goldfield have long been looked upon as' refractory, involving special metallurgical treatment. For many years two kinds of treatment have been practised-(l) wet treatment, including fine grinding, amalgamation or concentration of the free gold, concentration of the sulphide minerals with subsequent roasting and cyanidation, and cyanidation or bromo-cyanidation of the residue from the concentrating operation; (2) dry-crushing of the ore and roasting the whole of thecrushed ore, amalgamation of the gold in the calcine during fine grading, followed by cyanidation. The wet treatment was advanced a stage further when, in 1929, the Lake View and Star Ltd. adopted large scale flotation. As a consequence, however, further metallurgical problems were introduced. This paper covers the investigation, ,of one of the most prominent of these problems.Flotation preceded by strakes was satisfactory to a point.The flotation concentrate consisted largely of auriferous pyrite and tellurides, and the gangue minerals in the concentrate were practically barren.Several sources of loss of gold values were, however, found to be associated with this circuit, viz.-(a) There was the loss of gold in the flotation tailing.(b) Loss by dusting during roasting of the flotation concentrate.(c) Loss of gold in the cyanided residue.

Jan 1, 1937

By X Feng, X Zhang, W Sun, Y Zhe, K Hou, B Zhao, H Liu

Pulang Copper Mine, being China's largest newly built mine using block caving, boasts an annual production capacity of 12.5 million tons. Production level and roadway stability hold the key to the successful application of block caving. However, with Tong Kuangyu being the only mine in China which has applied such a method, we currently lack relevant experience in the successful application of the method. This paper has studied the influence of different rock mass zonings, fault thickness, fault dip angles, on-site construction quality on the production level, roadway stability of block caving through numerical simulation and analysed the roadway stability in different kinds of support solutions so as to ensure the successful application of block caving in Pulang Copper Mine. The results have shown that the existing support method in Pulang Copper Mine can meet the requirement of roadway support in zone II and III, but could not satisfy the demand in terms of support strength in the relatively fragmented zone I area. When roadway passes through the fault, the deformation of surrounding rock and plastic zone of roadway will gradually decrease with the increase of fault dip angle; the deformation of surrounding rock and plastic zone of roadway will gradually increase with the increase of fault thickness. An ideal support effect can be achieved through the joint support of grouting and bolting when roadway passes through the fault. In the measured model of on-site construction, there is stress concentration in the intersection between the access and transverse drift of ore removal. Therefore, the stability of the roadway can be improved by improving the construction quality. CITATION:Sun, W, Hou, K, Zhang, X, Feng, X, Liu, H, Zhe, Y and Zhao, B, 2018. Research on supporting technology for production level roadways of block caving in Pulang Copper Mine, in Proceedings The Fourth Australasian Ground Control in Mining Conference (AusRock), pp 95–106 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Nov 30, 2018

By R Verreet

In April 2000 Mount Isa Mines installed hoist ropes of a new design on the double-drum winder at their P49 shaft. The ropes, CASAR Duroplast, were about three times as expensive as the previously used triangular strand ropes. The P49 shaft is situated at Mount Isa MinesÆ George Fisher Mine, located some 30 km north of Mt Isa. This shaft used the tried and proven 6 x 33 triangular strand style ropes. The rope life attained by these ropes at the time was acceptable due to many years of satisfactory performance. The following study indicates the improvement of service life using CASAR Duroplast rope in P 49 shaft, which depends on shaft and winder parameters of that particular shaft and cannot necessarily be generalised to other shafts.

Jan 1, 2005

By Scott IR

In stratigraphic orebodies, estimation of footwall and hangingwall location is often of more importance than grade estimation. Contoured grade estimates often produce smeared boundaries and the use of accumulations and thicknesses as variables re-introduces the original problem: location of the point at which the estimate is to be made. The paper introduces statistical and geostatistical techniques for the solution of the problem and illustrates the techniques with a case study from Mount Isa, one of the world's largest producing silver-lead-zinc deposits. Solutions for calculating variograms in orebodies of variable dip, strike and plunge are presented together with relative variograms for individual metals, metal accumulation and orebody thickness. Optimal methods for hangingwall and footwall location are introduced and illustrated with an example. Orebody boundaries are then kriged after which individual metal grades are kriged within the estimated boundaries. The boundary estimates are compared with manually interpreted boundaries and known boundaries in mined-out areas. Grade and tonnage estimates are compared in mined-out areas.

Jan 1, 1986

By M Medina, J Alexander, R J. Longey

Capricorn Copper Pty Ltd (CCPL) are operating the Capricorn Copper Mine located at Gunpowder, Queensland. As current holder of the environmental authority for the site, CCPL have obligations to rehabilitate areas of the mine that are no longer operational and have the potential to cause/contribute to environmental harm. CCPL sought a voluntary Transitional Environmental Program (TEP) to provide an agreed program of works to cap and rehabilitate the former Mammoth Tailings Storage Facility. The voluntary TEP contained conditions that were required to be met, to reduce the potential for environmental harm from the facility. The former Mammoth Tailings Storage Facility commenced use in the early 1970’s, and is an unlined valley in-fill structure, contemporary in design compared with other such approved structures of the era. The decommissioned Mammoth Tailings Storage Facility, now known as the Old Tailings Storage Facility (Old TSF), has been a legacy source of contamination due to the existing capping not meeting modern cover criterion, and allowing oxidisation and infiltration to the underlying acid forming tailings resulting in Acid and Metalliferous Drainage (AMD) from the facility. A cover design for the Old TSF, and other mine waste storages onsite that required clay capping, had been proposed by previous operators. Under the TEP cover design phase, it was identified that a key constraint was the lack of significant quantities of low permeability clay onsite. The lack of available clay prompted the consideration of alternate lining materials for the Old TSF, with a Bituminous Geomembrane Liner (BGM) being adopted as the preferred alternative. The BGM compared favourably with clay-based materials on seepage analysis, and led to other benefits by eliminating the need for borrowing clay off site, reducing the site’s environmental footprint, and reducing construction time. The BGM cover system on the Old TSF is being monitored with the intent to use this as a case study to confirm expected performance, enabling the cover design to potentially be adopted on the remainder of the site’s mine waste storages that require capping.

Jul 1, 2021

By D Lozada, A Salazar

Geometallurgy is a tool that, for more than a century, has been present in the implicit operations of mineral beneficiation. There’s a need to understand the characteristics of the material to be processed. This has led metallurgists to ask geologists what type of rock and mineralogy is entering the Beneficiation Plant and vice versa. The geologist needs to understand the beneficiation process in order to be able to carry out the production programming. The paradigm is whether geometallurgy can be applied to small-scale mining or if it is only aimed at large companies that invest millions of dollars to conduct studies. With this work, we provide an example of how geometallurgy can help improve the processes of a small mining company located in Ecuador (South America). We performed characterizations of geological and mineralogical and metallurgical tests in universities and the National Research Institute of Geological Metallurgical Mining. The origin of the theme is based on the fact that gold has been detected in the final tailings. The flotation concentrates meet the standards in terms of the content of economically profitable metals, but this isn’t the case with regards to the percentage of arsenic, which has hindered sales. The hypothesis is: conducting technical and scientific research will optimize the metallurgical process for the recovery of gold and concentrates. The referential framework is the mining geology of the Bella Rica District, current status of the Beneficiation Plant. In the theoretical framework there are parameters of the veins, comminution operations, gravimetric concentration, flotation, and cyanidation. The methodological framework contemplates the characterization of the gold ore, the chemical, mineralogical, textural, metallurgical analysis and the interpretation of the results. Thus, the design of a geometallurgy model of the deposit, with its main characteristics, is a conclusion that serves as a basis for the proposal of the optimization of the metallurgical process.CITATION:Lozada, D and Salazar, A, 2018. Geometallurgy applied to small-scale mining: a case study, in Proceedings 14th AusIMM Mill Operators' Conference 2018, pp 153–162 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Aug 29, 2018

By P Card

“Let’s get discipline and quality into easy to understand evaluations!” Project Managers and MetPlant Operators accept poor quality evaluations because they are generally unaware of what they should expect.The 2010 draft AusIMM ‘Guidelines for Techno-Economic Evaluations’ were collated by a subcommittee of practitioners and are regarded as best practice.They apply directly to projects and metallurgical plant evaluations, including those with a heavy technical basis. They can be applied to technical problem solving where there are no monetary computations. Project Managers and MetPlant Operators should demand that economic models and evaluations follow the six principles. They should become working tools which are easy to understand, fit for purpose, consistent, rigorous, record sources of input data, have key graphs and are rapid to audit.

Aug 8, 2011

By T Muzondo, C Prins, D De Vaux, R Schouwstra

The Mogalakwena Platinum Mine in the northern limb of the Bushveld Complex is Anglo American PlatinumÆs only open cast operation exploiting the Platreef. The Platreef, which extends along the basal contact of the Bushveld Complex, is geologically and mineralogically a much more complex orebody than the Merensky and UG-2 reefs. Changes in the footwall and the genesis of the Platreef translate into a number of rock types being present. These rock types vary in hardness and recovery potential and present challenges to metallurgical staff trying to optimise the concentrator. A true understanding of the implications of treating these rock types is required if the maximum value from this orebody is to be obtained.In order to more accurately forecast production and incorporate ore variation in the mine plan and comminution and flotation circuits, a geometallurgical approach to managing the operation has been used and is being further developed.CITATION:Schouwstra, R, De Vaux, D, Muzondo, T and Prins, C, 2013. A geometallurgical approach at Anglo American PlatinumÆs Mogalakwena Operation, in Proceedings The Second AusIMM International Geometallurgy Conference (GeoMet) 2013 , pp 85-92 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Sep 29, 2013

By M Russ, J Gediga

This paper shows an economic feasible approach to implement greenhouse gas (GHG) reduction measures into the mining and metallurgy industry (MMI). The goal to improve energy consumption is directly linked to the reduction of GHG emissions in the MMI. A baseline scenario of the considered reference system and of the respective reference year has to be designed and analysed. In a second step an analysis of the same operation using the best available technology (BAT) processes is carried out to generate a basis for a benchmark system. The identified gaps will be reported and the potential GHG emission reductions will be put into relation to the investment, running cost and generated carbon credits of the new process technologies to be implemented. This economic feasibility calculation is necessary to realise a cost efficient GHG reduction roadmap decision-making for implementing new technology into the companyÆs business operations. The GHG reduction roadmap is developed using the marginal abatement curve approach.

Jan 1, 2009

By Jaczkowski B

The lower orebody (LOB) at Chingola Divi- sion of Nchanga Consolidated Copper Mines Limited (NCCM) accounts for approximately 30 per cent of the total copper production for the company. The uniformity of the geology of the orebody lends itself readily to a computer based ore reserve calculation and accounting system. The mining units are physically defined such that a hierarchical type of com- puter file organisation can reflect the existing physical interdependencies. In 1972, a project team consisting of one representative from each of the mine planning, operational research, and computer services departments was formed to investigate and to define the technical mining requirements of the dynamic ore reserve system (DORS). The system was finally implemented in 1975ò

Jan 1, 1977

By M Berry

Consider these four questions:What is the definition of life-of-mine?When should life-of-mine planning seriously commence?When can life-of-mine planning seriously commence?What is the key input to effective life-of-mine planning?Whilst there is likely to be general consensus on the answers to the first three questions, the answer to the fourth question is open to debate. This author argues that understanding and managing risks and opportunities associated with geological uncertainty is the key input to effective life-of-mine planning, at all stages in the life cycle of a mining project.CITATION:Berry, M, ?2014. Effective life-of-mine planning by understanding and managing risks and opportunities associated with geological uncertainty, in Proceedings Life-of-Mine 2014 , pp 183–190 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Jul 16, 2014