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Banks' focus in using cash flow methods can differ markedly from that of equity investors. This paper attempts to explain and describe bankers' approach by: ò outlining the fundamental difference between banks' and investors' risk / return profiles. ò describing lenders' consequent use of cash flow methods in mineral valuation. areas. explaining lenders' specific treatment of key risk Fundamental to understanding banks' appraisal of mineral projects is the appreciation that lenders have a basically different risk profile and outlook from those familiar to equity investors. Lenders do not normally participate in any project upside. The economics of lending dictate that banks can only accommodate a low probability of loan default and consequently banks' principal focus in mineral ""valuation"" is ensuring an acceptably comfortable probability of debt repayment. A simple conceptual explanation of lenders' risk / return position is outlined.

Jan 1, 1994

The tankhouse of the electrolytic zinc plant at Nordenham is operating with a very high operating efficiency of 99 per cent. This has been achieved not only by strict control of the quality of the zinc sulphate cell feed solution but also by all the improvements in housekeeping in the tankhouse developed during the past years: aluminium cathode specification, cathode stripping cycle, edge strips, copper contacts, anode isolators, cell cleaning, fittings and washing devices. During 1987 to 1992 the casting department was completely remodelled in order to improve the quality of the zinc products, the safety of the operations and the flexibility. The remodelling includes the enlargement of the area for the casting shop, the storage buildings and the five casting lines on the same ground level. New lines for alloying products and for SHG25 kg zinc ingots have been constructed. The line for galvanising products has new equipment in some parts and the other lines have been modified.

Jan 1, 1993

By Robinson T

The paper describes a spreadsheet system that enables selection of projects and companies that meet the user's corporate exploration and/or acquisition philosophy. A regularly maintained commercially available database has been used as the basis for this system. It provides an easily accessible efficient com- prehensive search method. The technique enables ranking by various criteria, both technical and financial, to provide groups of projects/companies that are of interest. Initially, target size parameters such as reserves, production and mine life are applied together with geological criteria such as age and deposit type; the significance of the targets in the context of the Australian gold industry is addressed.

Jan 1, 1988

By Harada M, Katsuta S

In order to shorten the time taken to com- plete shield tunnel excavation work, reduce labor costs and to improve safety, an automatic assembly robot system for the segments used has been developed. It was developed in the three years from 1982 until 1984. An experimental assembly system for concrete segments (outer diameter:.3.55m) has been thoroughly tested to confirm that these segments can be fed and assembled automatically (Fig. 1, 2). This report outlines the robot which will be put into practical use in the near future. The robot senses the position of already assem- bled segments by means of position sensors, controls the position and the attitude of the segment to be assembled to allow bolt hole positioning, and completes the automatic assembly of a se;nent by automatically tighten- ing bolts. The six segments which make up one ring can be automatically assembled in about 25 minutes.

Jan 1, 1987

During the last 12 years the dominant theme at Mount Isa has been production expansion. Production rate of 3,200 tons per mine day in 1953 increased to 11,000 tons per mine day in 1960, completing the first stage of the programme. The second stage is still in progress. It is planned to increase production of lead and copper ores to 19,500 tons per mine day in 1968.Current mine workings comprise an area 2 miles long and 1/2 mile wide, the deepest production level being 2,000 ft below surface. During the next 10 years it is anticipated that mining will be carried out to a depthof 3,200 ft below the surface. The rapid extension of the mine has necessitated frequent re-appraisals and modifications to the primary ventilation system, and a system with considerable in-built flexibility has gradually evolved. Since 1953, volume circulation has increased eight-fold to approximately 2,400,000 c.f.m.To suit various mine operating requirements, a combined pressure-exhaust system of ventilation was adopted.The usefulness of this system is at a maximum when the fans installed permit ready changes in the location of the boundary between adjacent spheres of fan influence.Air flow through openings to the surface can be controlled or used as required. This feature is considered necessary for a mine where underground workings are comparatively shallow and caving to the surface willoccur.A major heat problem exists due to climate conditions, high geothermic gradient (one degree Fahrenheit in 95 ft), and oxidation in leached and brecciated areas.Because of this, quantities of air far in excess of the minimum requirements for dust removal are required to ensure satisfactory environmental conditions. In assessing fan pressure, consideration was given to 1. the mine resistance, and the requirement for pressure differential capability,2. the pressure requirement for deeper mining, with due allowance for booster fan use where appropriate,and3. the desire to avoid fan operation at pressure duties above the region of peak fan efficiency.The latter feature provides a safety margin between maximum operating pressure and the stall point of the fan.

Jan 1, 1967

My roots span four generations. My great grandfather, Christian Frederick Fisher, along with twenty-one others was drowned in the New Australasian mine disaster at Creswick in Victoria in 1882. My grandfather, also named Christian Frederick Fisher, escaped and then followed a career of shaft sinking for large companies and operating small mines (very unprofitably according to my father) when funds allowed. My father, an excellent practical mining and mechanical engineer, was also a small miner and my early entry into the industry was, like many before me, very basic. My introductions to the business end of a No. 4 shovel, drilling with hand steel and later with jack hammers without the benefit of airlegs, feeding heavy cordwood to hungry boilers and felling trees for mine timber soon dispelled any illusions I had that mining was a bed of roses.Before it became well known I knew "Life was not meant to be easy".In a family-owned small gold mine in a remote part of Cape York Peninsula in far north Queensland I was fortunate in obtaining an excellent grounding in reef and deep alluvial mining. Operating in vertical and underlie shafts the variable ground conditions often required close timbering. Steam pumps were used underground and steam winders for hoisting.The complete absence of municipal or government infrastructure in this remote mining field threw responsibility on each mine operator to be self-sufficient, and responsible for mine development and installation of crushing and milling equipment, accommodation and water supply. Conditions, although harsh, were acceptable in the 1930s, and fostered great self-reliance.The first crushing from our Black Cat Mine in 1935 returned nearly 200 oz from 10 tons of ore. Gold was then worth $13 an ounce compared to about $400 an ounce today; but in those depression years of the 1930s our operation was profitable.This basic education not only returned dividends when confronted with difficult mining problems, but created a deep respect for the miners who develop the small mines and who continue to contribute to the industry today, often under difficult conditions.Australia and mining are synonymous. The industry has been immortalised by the famous historian, Professor Geoffrey Blainey, in his book "The Rush that Never Ended".Initial gold discoveries were concealed and exploration was frowned upon by authority as being disruptive to early rural development. But with the discovery of gold in the Bathurst area of New South Wales by Hargreaves in 1851, the rush to the gold fields began followed by an influx of migrants. The traumatic effect on industry and society that followed, created the pattern of the love-hate relationship that at times became temporarily submerged, but is so evident today.In the harsh economic climate of the 19th century with low wages and no welfare, the opportunity to wrest riches from the earth was literally "rushed" by the adventurous, the poor, the rich, people from all walks of life. Pressures developed on preFederation Governments to provide law, order and infrastructure to the rushes that have never ended.

Jan 1, 1984

The deep seafloor in Papua New Guinea's proposed Exclusive Economic Zone appears to be a gold-rich province in the same sense as the territory above sea level. Two significant sites with polymetallic massive sulphide deposits forming today are known on neovolcanic ridges in the Manus Basin. Their high precious metal contents have led to renewed interest in the issue of exploiting seafloor mineral deposits. The prospects of finding other, possibly larger deposits in the region appear substantial. This paper reviews current data on seafloor deposits in Papua New Guinea (PNG) and raises some issues relating to future commercial exploration and mining of the sea floor. One of the known PNG deposits could become a prime candidate for the trials needed to develop technology, establish costs, and minimise environmental impact.

Jan 1, 1994

By A Winchester, D Grant

The massive 1100 Orebody in Mount IsaÆs X41 Copper Mine has been extracted over the last 40 years form north to south utilising sublevel open stoping methods.De velopment has continually stepped ahead of production to provide access to new primary stoping blocks. The remaining secondary pillars contain stopes with one, two or three fill mass exposures and were constrained by access requirements and stope extraction turnaround time.The remaining southern mining areas consist of large 40 m wide by 300 to 400 m long east-west transverse pillars that have been left to provide access for ventilation and service requirements. Three large transverse cross-cuts or transverse pillars û 4180 x/c, 4010 x/c and the Panel pillar now remain. The 4180 x/c was the last major transverse pillar to be successfully broken.This transverse pillar is being extracted in a retreating sequence, creating 3SLOS stopes due to the surrounding backfilled stopes.In recent years the extraction of the first, and most critical, stopes in the transverse pillars have resulted in large changes to the induced stress field. This paper describes the extraction of the 1.1 million tonne stope P418 in the 4180 x/c pillar.T echnical challenges that were faced and how they were overcome to allow for the successful extraction of the stope are described.Critical to the success of the P418 stope extraction were the rehabilitation methodology used; extraction strategy modifications to address deteriorating ground; mass firings with multiple directional changes; managing the exposure of backfill of variable strengths; and geotechnical monitoring prior to, during and after extraction.

Jan 1, 2005

By J Whittle

This paper describes what is involved in carrying out a comprehensive optimisation of a long-term operating schedule for a mining complex. It details the data that must be assembled and discusses the different approaches to optimisation and what limitations they put on the variables and constraints that can be handled.CITATION:Whittle, J, 2014. Not for the faint-hearted, in Proceedings Orebody Modelling and Strategic Mine Planning Symposium 2014 , pp 3–6 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Nov 24, 2014

The knowledge in the field has been reviewed by literature studies, and using experience from personal research in sublevel caving. There is a lot of material regarding gravity flow of fine grained materials in bins, but the theory of flow for these materials are normally not applicable for coarse blasted rock. This study was therefore concentrated towards coarse rock fragments created after blasting in orebodies. The goal for this study was to make a report of known knowledge, and identify what we have to learn more about. The Bergmark-Roos theory, which was a paradigm shift in the science of gravity flow, is today the best mathematical theory for calculation of the drawbody for a homogenous material or when we wish to simulate the mean drawbody for a large number of draws. The Bergmark-Roos theory must however be improved, so it can take into account the flow pipe effect. When this is done it will be possible to construct a 3D computer model for calculation of ore extraction versus amount of loaded ore and waste. It is also necessary to find the 3D shape of the flow cone to be able to calculate the 3D ore rest that normally develops on footwalls. Calculations should be done for the draw on several sublevels including determination of the ore losses and temporary ore rests. First when this computer model is developed optimisation of ore recovery and waste rock dilution can start for a given orebody. The author points out the importance for international co-operation and standardisation of methods for determination of material properties. More field tests and model blasting tests should also be done. When enough knowledge is gathered, a handbook of the optimisation of sublevel and block caving should be written.

Jan 1, 2000

With the sinking of the No. 3 Shaft at North Broken Hill Limited, it was necessary to construct adjacent to the shaft a new changehouse for mining and surface personnel.It was also probable that as the older sections of the North and British leases were worked out, all employees at present working in these sections would be transferred to the No. 3 Shaft area. This could ultimately result in all personnel employed by North Broken Hill Limited being concentrated in this area, requiring the construction of new administration offices, workshops, mine store, etc., also in this area.

Jan 1, 1957

Comparatively recent Tasmanian legisla tion established a series of rigid control standards for environmental protection just as ma spectacular expansion of the mining industry was nearing completion. Upgrading existing protection to obtain the necessary licence to operate under these new regulations required further major works and involved a considerable outlay of non- productive capital at a time when escalating costs and falling metal prices were straining economic efficiencies to the limit. Late in 1974 a major environmental protection scheme was commissioned by the Electrolytic Zinc Company of Australasia Limited at Rosebery on the West Coast of Tasmania. This 4 million dollar project was specifically developed by the Company ahead of and to meet the new standards for control of total effluents discharged from its zinc-lead -copper-pyrites mine and concentrator.

Jan 1, 1977

By G Harbort, D Clarke, D Morgan, C Sola

Northparkes Mines commenced production in 1994 and the mine has significant reserves to allow operation into the future. There are a number of potential future concentrator feed sources with variable sulfide mineralogy and grades.In February 2012 a comprehensive flotation survey was conducted to allow mass balancing and evaluate the operation of the flotation circuit. A rudimentary, copper element only, unsized flotation simulator was developed to evaluate high level potential for optimisation and improvement. In 2013 this flotation model was expanded to produce a mineral based, floatability component model to estimate the effect of future concentrator feed source on metallurgical performance. This revised model allows various circuit configurations to be simulated to provide a high level blueprint for the long-term planning to maximise performance.This paper provides a review of the process followed to develop the model, including an analysis into the mineral floatability component model and its calibration against plant operations. The effect of varying feed mineralogy and feed quality on future performance has allowed an internal review of potential circuit changes needed to accommodate the changing future feed.CITATION:Clarke, D, Harbort, G, Morgan, D and Sola, C, 2014. Northparkes Mines – flotation and planning for the future, in Proceedings 12th AusIMM Mill Operators’ Conference 2014 , pp 203–208 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Sep 1, 2014

By Omnes G

Sixty Schlumberger electrical soundings were carried out in the Depot Springs area, near Agnew, Western Australia as part of an investigation into the availability of groundwater for the Agnew nickel project. The object of the survey was to locate calcrete aquifers related to Tertiary drainage channels on the Pre- Cambrian surface. The electrical soundings were initially interpreted using sets of master curves and auxiliary point methods. Electrical sections were produced and contour maps prepared of apparent resistivity for AB=80m, total conductance of the overburden and transverse resistance.

Jan 1, 1975

Although developed primarily for sintering tantalum, the unit to be described can be used to heat-treat metals in the form ofa bar, wire or strip, by passing a current through them. The upper temperature limit with this type of heating is the melting point of the metal being heated.The unit was designed for vacuum work, but. various gases can be used if required.Briefly, the vacuum sintering furnace consists of a bell which is counter-balanced and may be lowered onto the brass base plate which holds the electrodes. A rubber ring seal is used for vacuum work. The lower flexible grips are bolted to the brass base plate which is at earth 'potential, while the other electrode passes through the plate by way of an electrically insulated vacuum seal. This upper electrode, the height of which can be altered as desired, the lower grips, and the bell are water cooled. The vacuum line to the pumps and a line to the vacuum gauges also lead from the base plate. The more important sections of the unit are described below.THE BELLThe unit was designed so that the bell could be lifted clear of the base plate and the electrodes, thus facilitating adjustment of the latter and the mounting of the specimen to be heated. A double walled steel bell, 20 in. high, with t in. cavity was used. The bell was fabricated from 10 gauge mild steel sheet using a double overlapping run of arc welding for all seams. A water inlet and outlet...

Jan 1, 1946

By B Prasad, M P. Roy, P K. Singh, C Drebenstedt

Blasting operations play a pivotal role in the overall economics of opencast mines. The blasting subsystem affects all the other associated subsystems, ie loading, transport, crushing and milling operations. Fragmentation control through effective blast design and its effect on productivity is a challenging job for the practicing blasting engineer due to inadequate knowledge of actual explosive energy released in the borehole, effect of varying initiation practice in blast design and its effect on explosive energy release characteristic. This paper describes the result of a systematic study on the impact of blast design parameters on rock fragmentation at two mines in India. Both the mines use draglines and shovel-dumper combination for removal of overburden. Despite its pivotal role in controlling the overall economics of a mining operation, the expected blasting performance is often judged almost exclusively on the basis of poorly defined parameters such as powder factor and is often qualitative, which results in a very subjective assessment of blasting performance. Such an approach is a very poor substitute for accurate assessment of explosive and blasting performance. Forty-seven blasts were conducted with varying blast designs and charging patterns and their impact on the rock fragmentation are documented. A high-speed camera was deployed to record the detonation sequences of the blasts. The efficiency of the loading machines was also correlated with the mean fragment size obtained from the fragmentation analyses.CITATION:Singh, P K, Roy, M P, Drebenstedt, C and Prasad, B, 2015. Blast design parameters and their impact on rock fragmentation, in Proceedings 11th International Symposium on Rock Fragmentation by Blasting, pp 755–762 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Aug 24, 2015

Underground mine ventilation is now com monly simulated on a digital computer. Such a programme, incorporating natural ventilation has been modified by others to account for methane emission and elevated local tempera- tures. At Wollongong University, the pro- gramme was further developed and extensive interactive graphics incorporated such that any view of the three dimensional mine could be viewed, and superimposed upon that view are areas where a nominated parameter has exceeded a particular value - generally at a nominated time after a particular event and usually a fire/explosion of one type or another. A further programme was developed such that up to 20 'times' could be examined at a particu- lar location after say, a fuel rich fire at some other place in the mine. The output from this programme includes a plot of methane 1, smoke 1, temperature, pressure and air flow versus time - a most useful graphic to observe the limits of safe attendance in a particular Airway.

Jan 1, 1983

By G B. Douglas

Lime-based neutralisation has long been the remediation treatment of choice for acidic mine pit waters. While suited to the attenuation of acidity, lime-based neutralisation may be difficult to implement efficiently due to variation in quality and the partial loss of neutralisation efficiency due to armouring. Large volumes of gypsum-bearing sludge may also require mechanical dewatering and transfer to final voids prior to resumption of in-pit mining or closure. Thus, operational costs may be substantially higher than primary neutralisation alone. Lime production also results in large greenhouse gas (CO2) emissions.Hydrotalcites (HT) are a class of Mg-Al layered double hydroxide minerals with the composition Mg6Al2(CO3 )(OH)16.4H2O. A range of other divalent and trivalent cations may also readily substitute for Mg (eg Cu, Ni, Pb, Zn), Al (eg Fe, La, Ce) and metalloids/oxyanions (SeO42-, AsO43 -/CrO42 -, MnO4-) for CO3 into the hydrotalcite structure. A common feature of acid mine pit waters, often overlooked in assessment of potential remediation options, is the frequent predominance of divalent and trivalent cations as a consequence of partial decomposition of both ore and gangue minerals during in-pit wall rock leaching. Thus, given the presence of substantial divalent and trivalent cations in acidic mine pit waters, an opportunity exists to exploit and in effect work harmoniously with the prevailing pit water composition to form a polymetallic hydrotalcite.The utility of hydrotalcites in the remediation of acidic mine pit waters lies in their ability to incorporate a wide range of contaminants; instantaneous formation, often in a single step; simple post-treatment solute composition; rapid settling; low sludge volume; and the potential to form ore-grade precipitates potentially amendable to reprocessing to (partially) recover remediation costs. Examples of hydrotalcite formation as a method to remediate contaminated acidic mine pit waters at laboratory-scale to full-scale will be presented.CITATION:Douglas, G B, 2015. Whither lime? In situ hydrotalcite precipitation as a method of remediation for acidic mine lakes, in Proceedings Tailings and Mine Waste Management for the 21st Century , pp 97–104 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Jul 27, 2015

By Q Zhou, J Pan, D Q. Zhu, C C. Yang

Oxidised pellets have become an indispensable high-quality charge for blast furnaces (BF) due to their uniform particle size, high iron grade, high mechanical strength, good metallurgical performance, as well as relatively low energy consumption and gaseous pollutant emissions in pellet production. Nevertheless, due to the rapid development of the global steel industry, highquality pellet feeds are becoming more and more scarce. In order to broaden the source of pellet feeds and reduce the production cost of pellets, more and more steel mills are going to use coarse iron ore fines with relatively low iron grade and low impurities for preparation of desirable pellet feeds through a typical wet grinding-settling-filtering process. In this work, the grinding, settling and filtering behaviour of Brazilian and Australian iron ore fines are studied and compared, aiming at finding out the internal relationship between the mineralogical characteristics of different iron ore types and their grinding-settling-filtering performance. The results show that the grindability is heavily dependent on the hardness of iron ores, which is governed by the mineralogical characteristics of the raw materials. Usually the higher the hardness, the more grinding energy is required. Except for Brazilian specularite, Australian hematite-goethite type iron ore fines and Brazilian hematite ore fines exhibit good grindability with a Bond Work Index of about 10–15 kW•h/t. In addition, the settling and filtering performance of ground iron ores are largely affected by the density, mineralogical characteristics of iron ore fines (eg, quantity of clay minerals and goethite and porosity of ore particles), grinding fineness, etc. Generally, iron ore fines with higher density, lower quantity of soft minerals (clay and goethite) and larger particle size give superior settling and filtering performance. For iron ore fines with inferior grinding, settling and filtering performance, applying more energy-efficient grinding techniques, blending with ore types with good settling and filtering performance can reduce grinding energy consumption and improve settling and filtration rates to maximise the productivity of equipment and lower the operational cost

Sep 18, 2023

By Upfold RW, Velzeboer MD

An underground mine fire will influence the ventilation equilibrium in several ways which results in a redistribution of the ventilating quantities and pressures throughout the whole mine. The ventilation carries the combustion products which constitute the greatest danger of mine fires through the mine and provides the oxygen on which the intensity of the fire depends. However, as a result of the ventilat- ion disturbances created by the fire, changes in airflow patterns can take place which are not always obvious, especially when the mine is being served by several fans. The use of com- puter simulation techniques allow for the likely effects to be tested and the different ventilation options to be evaluated as an integral part of the overall emergency/rescue planning and control procedures.

Jan 1, 1981