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This paper sets out to consider a specific type of corrosion protection system, which is referred to as a Duplex Coating system. The dictionary describes a duplex system as consisting of two elements or a “twofold” composition. The duplex system described in this presentation is such a two-part corrosion protection coating, viz, hot dip galvanizing as the firm base or primer, followed by a top paint system designed to combat severe corrosive environmental conditions encountered in nature. In principle, the duplex system is a cost effective and balanced, designed coating that is suited to the environmental conditions and service life requirements.

Jan 1, 2009

By G. Dhakal, J. -I. Kodama, K. Neaupane, T. Yoneda

ABSTRACT Durability tests and evaluation of sub-zero temperature effects to some argillaceous clastic rocks were carried out. Welded tuff, limestone, sandstone and schist samples collected from different parts of Japan were tested and results are presented. Schist and dolomite from Ganesh Himal area along the higher Himalayas of Nepal were also tested, and the results are compared. The slaking tests were performed on all samples in pure water. The results reveal that the slaking index of schist from Japan is lower than that of schist from Nepal. Regarding carbonate rocks, the slaking index of limestone from Japan is higher than that of dolomite from Nepal. A tendency of decrease in slake durability with an increase in porosity is also observed. Freezing and thawing experiments conducted on welded tuff and schist reveal that crack initiates earlier but extends slower in schist than in welded tuff. It is also observed from the freeze-thaw experiment that the welded tuff deteriorates and wears faster than the schist. However, sandstone remains relatively intact for a long run of freeze-thaw cycles. Zusammenfassung Beständigkeitstests sowie die Bewertung der Auswirkungen von Minusgraden auf Tonschiefer Trümmergestein wurden durchgeführt. Dabei wurden geschweißter Tuff, Kalkstein, Sandstein und Schiefer aus verschiedenen Gebieten Japans sowie Schiefer und Dolomitgestein aus dem Ganesh Himal Gebiet, dem höheren Himalaya Nepals, untersucht und die Resultate verglichen. Für alle diese Gesteine wurden Slaking-Tests in reinem Wasser vorgenommen. Die Resultate zeigen, dass das Slaking von Schiefer aus Japan höher als das von Schiefer aus Nepal war, wohingegen bei kalkhaltigem Gestein das Slaking von Kalkstein aus Japan niedriger als das von Dolomitgestein aus Nepal ausfiel. Es wurde dabei auch eine Tendenz zur Löschbeständigkeitsverringerung bei gleichzeitig erhöhter Porosität beobachtet. Gefrier- und Tautests an geschweißtem Tuff und japanischem Schiefer zeigten, dass Risse in Schiefer schneller auftraten, aber sich langsamer ausweiteten als in geschweißtem Tuff. Bei Gefrier- und Tautests wurde ebenfalls beobachtet, dass geschweißter Tuff schneller verfällt und verschleißt als Schiefer. Sandstein hingegen blieb über lange Tau- und Gefrierzyklen intakt Résumé Des tests de solidités et l’évaluation de l’effet des températures en dessous de zéro sur les rocs argileux ont été effectués. Les rocs d’origine volcanique (cendre), les rocs calcaires, sableux et les schistes de différentes régions du Japon, ont été étudiés. Les schistes et les dolomites de la région de Ganesh Himal le long du haut Himalaya (Népal) ont été étudiés et comparés à ceux du Japon. Les tests de désintégration sur les rocs ont été effectués dans l’eau pure. Les résultats montrent que l’index de désintégration des schistes du Japon est inférieur aux schistes du Népal. En ce qui concerne les rocs carbonyles, l’index de désintégration des rocs calcaires du Japon est supérieur à ceux des dolomites du Népal. Une décroissance de la résistance à la durabilité est observée avec une plus grande porosité des rocs. Les tests de congélation-décongelation sur les schistes et les rocs d’origine volcanique (cendre) du Japon montrent une apparition précoce des fissures mais l’expansion des fissures est plus rapide dans les rocs volcaniques. Des tests similaires montrent que les rocs volcaniques (cendre) se désagrégent plus rapidement que les schistes. Cependant, les rocs sableux restent intacts après plusieurs cycles de congélation-décongélation.

Jan 1, 2003

By R. G. Coyle

"In an earlier paper the author explored the consequences of price-stabilizing effects, on an industry-wide basis, of various production strategies. These ideas have now been applied to an illustrative case of an individual mine. It is shown that the turning of production and financial policies can affect financial performance over a five-year period by as much as 22 per cent.No generality is claimed for the results and they would differ from mine to mine. It is, however, asserted that the results show that the proper turning of production, reserves and financial policies are more critical determinants of mine performance than has been realised. It is also asserted that the methods of dynamic analysis are the most appropriate means for studying this policy-design problem."

Jan 1, 2014

By J. Drzewiecki, J. Kabiesz

Coal mining using longwall methods of mining can lead to intense disturbances of undermined roof strata. The disturbances may extend beyond the extraction area and the resulted rock mass deformations will appear differentiated. In the case of stiff and undermined roof strata, the energy stored in these rock masses may be frequently dissipated in the form of high-energy seismic tremors. Such events can occur if these strata should fail or „free themselves” either from the constrainment of rock environment or from adjacent strata. It has also been found that the amount of the stored energy closely depends on the size and/or slenderness of these strata. Thus, it would be possible to apply specific preventive measures to reduce the energy of mining – induced seismic tremors. The methods are based on artificial disintegration of the structure of energy – storing strata. One of the most efficient methods is a method of directional hydraulic fracturing, which is regarded as an alternative solution from the traditional blasting and hydraulic methods.

Jan 1, 2003

By G. van Aswegen, J. D. Bosman

Gold bearing deposits in the Witwatersrand consist predominantly of narrow tabular conglomerates with quartzite host rock. Extensive mining of these deposits at depth results in significant stresses being induced in the periphery of the tabular excavations. Where remnant pillars are created excessive stresses have resulted in the dynamic failure of the abutments. At the Hartebeestfontein Mine four brittle shear zones have recently been exposed and investigated. For most part, they represent abutment failure into the weaker hangingwall strata, striking parallel to the abutment, dipping towards the stope, with a sense of displacement consistent with closure of the stope from above. These shear zones are similar to those described in various publications by Ortlepp2: they are essentially brittle shear zones characterised by the presence of very finely comminuted ‘rock flour’ on an obviously freshly sheared surface. The angle between the shear zone wall and extension fractures indicate the sense of shear and the intersection of the extension fractures with the shear zone walls define a strong lineation normal to the direction of slip. It is suggested that these structures are referred to as ‘mining induced dynamic brittle shears’. Les gisements d’or du Witwatersrand consistent principalement de conglomérats tabulaires peu épais contenus dans une quartzite mère. Une exploitation poussée de ces gisements en profondeur a pour résultat l’apparition d’importantes contraintes induites à la périphérie des excavations tabulaires. Là où des piliers restants sont créés, des contraintes excessives ont eu pour résultat une rupture dynamique des appuis. Dans la Mine d’Hartebeestfontein, quatre zones fragiles de cisaillement ont été récemment exposées et étudiées. Dans la plupart des cas, elles représentent une rupture des appuis dans les strates moins solides de la paroi suspendue, orientée parallèlement à l’appui, inclinée en direction du chantier d’abattage avec une direction de mouvement consistante avec l’affaissement du toit de la galerie d’abattage. Ces zones de cisaillement sont similaires à celles décrites par Ortlepp2 dans diverses publications: Ce sont essentiellement des zones cisaillement fragiles caractérisées par la présence de « farine de roche » très finement réduite sur une surface évidemment fraîchement cisaillée. L’angle entre la paroi de la zone de cisaillement et les fractures de tension indiquent le sens du cisaillement et l’intersection des fractures de tension avec les parois de la zone de cisaillement définit une forte délinéation perpendiculaire à la direction du glissement. Il est suggéré que l’on se réfère à de telles structures comme des « cisaillements dynamiques fragiles induits par l‘exploitation ». Goldablagerungen im Witwatersrand bestehen überwiegend aus schmalen tabularen Konglomeraten mit Quarzitwirtgestein. Der umfangreiche Abbau dieser Ablagerungen in der Tiefe resultiert in signifikanten Drücken, die auf die Peripherie der tabularen Aushöhlungen wirken. Wo Restpfeiler hergestellt wurden, resultierten exzessive Drücke im dynamischen Versagen der Auflager. In der Hartebeestfontein Grube wurden kürzlich vier spröde Scherzonen freigelegt und untersucht. Zum größten Teil representieren sie Auflagerversagen im Stratum der schwächeren Stollenfirste, parallel zum Auflager verlaufend, in Richtung Abbaustelle abfallend, mit einem gewissen Grad an Verschiebung konsistent mit der Schliessung der Strosse von oben. Diese Scherzonen sind jenen ähnlich, die in den verschiedenen Publikationen von Ortlepp2 beschrieben werden: sie sind im Wesentlichen spröde Scherzonen, charakterisiert durch das Vorhandensein des sehr fein pulverisierten „Gesteinsmehls“ auf einer offensichtlich frisch abgescherten Oberfläche. Der Winkel zwischen der Scherzonenwand und den Bruchverlängerungen deutet die Richtung der Scherung an und die Kreuzung der Bruchverlängerungen mit der Abscherzone grenzt sich gegen eine starke Lineation normal zur Richtung der Lehne ab. Es wird vorgeschlagen, daß diese Strukturen als `vom Abbau verursachte dynamisch spröde Scherungen’ bezeichnet werden.

Jan 1, 2003

By C. Steyn, J. D. le Roux

A dynamic model is used to represent the single-stage closed grinding mill circuit at Mogalakwena North Concentrator. The circuit consists of a ball mill closed by a hydrocyclone. The circuit is modelled according to a semi-mechanistic non-linear dynamic model available in literature. An algebraic routine is used to fit model parameters to steady-state process data. Preliminary validation results against dynamic data indicate that the model is capable of capturing the main dynamic trends of the plant. Since classical system identification techniques proved insufficient to produce accurate models; the non-linear model can be used as a reliable source for model-predictive controller design. Keywords: Grinding, modelling, process control, parameter estimation

Jan 1, 2020

By U. Singh, E. T. Brown, J. Coxon

The rapid fracturing and deformation that occurs around excavations during rock bursts demand that support and reinforcement systems have both deformability and damping capabilities. The energy demand and supply approach currently used in design is considered to be too simplified to represent adequately the rock burst process and the support and reinforcement system requirements. Momentum change may be a necessary second criterion for the analysis of dynamic loading situations. At the St Ives Gold Mining Company, DE plates made from conveyor belt rubber, and dynamic cables with sliding anchors have been developed and used to improve the dynamic performance of support and reinforcement systems. La fracturation rapide et la déformation qui se produisent autour des excavations lors de coups de terrain demandent que les systèmes d’armature et de support soient déformables et aient une capacité d’amortissement. L’approche basée sur l’énergie actuellement utilisée pour la conception est considérée être trop simplificatrice pour représenter adéquatement les coups de terrain et les paramètres de conception des systèmes d’armature et de support requis. Le changement de quantité de mouvement pourrait être un second critère nécessaire pour l’analyse des cas de charge dynamnique. St Ives Gold Mining Company a développé et utilisé des plaques « DE » constituées de caoutchouc de courroie de convoyeur et des câbles dynamiques avec ancrage coulissant afin d’améliorer la performance dynamique des systèmes d’armature et de support. Die ploetzliche Rissbildung und Verformung, die sich in Baugruben waehrend eines Felseinbruchs ereignet, verlangt Stuetz- und Verstaerkungssysteme, welche verformbare und mildernde Eigenschaften aufweisen. Die derzeitlich gebraeuchliche Methode den Entwurf auf den Energiebedarf und dessen Abdeckung zu basieren, wird als eine unannehmbare Vereinfachung betrachtet, da sie den Felseinbruch und die benoetigten Unterstuetzungs– und Verstaerkungssysteme unzulaenglich darstellt. Die Aenderung der Umstaende kann einen zweiten Ansatz fuer die Analyse der Lastsituation erforderlich machen. Die St.Ives Gold Mining Company hat DE Platten aus Foerderband-Gummi und elastischen Kabeln mit verschiebbaren Verankerung entwickelt und dazu verwendet, die dynamische Kapazitaet der Unterstuetzungs- und Verstaerkungssysteme zu verbessern.

Jan 1, 2003

By M. R. Grant, G. S. Kruger, H. D. van der Merwe, T. N. Huffman

Sixteenth to seventeenth century Kalanga miners dug a series of sub-vertical shafts into a 10 to 30 m wide zone of copper ore at the Thakadu Mine near Matsitama, Botswana. They went down at least 6 m in search of thick malachite veins. The host rock was hand 'cobbed' to remove the veins, which were then smelted nearby in small bowl furnaces. Evidently, the furnaces lacked clay superstructures, since a simple pit was sufficient to smelt the almost pure malachite. The copper bloom was probably refined in villages further away.

Jan 1, 1995

By H. Hu, T. S. Golosinski

The paper reports on use of neural network algorithms to model performance and condition of mining trucks. The model inputs are selected digital data streams collected by truck Vital Information Management System, VIMS, during its operation in a mine. The models built as the result of this work allow for projection of truck condition and performance into future. As such they facilitate more efficient management of mine truck fleets. Keywords: Modelling, modeling, neural networks, mining equipment, Vital Information Management System, Intelligent Miner, mining truck

Jan 1, 2003

By J. W. Klokow, S. L. Mulder

Early removal of the shaft reef is usually considered necessary on deep level South African gold mines to avoid damaging stress build-up associated with traditional shaft-protection pillars. In the case of the relatively shallow Beatrix Gold Mine it was largely motivated by early access to ore and the consequent earlier return on invested capital. A number of options were considered to protect the shaft from possible damaging stress changes and to minimise deformations in the shaft-reef area. Numerical modelling was used to evaluate the options and to quantify as accurately as possible the likely deformations to be accommodated by the shaft steelwork designs. The option chosen was a combination of strategically placed satellite pillars and yield pillars, and backfill. Following the mining of a small inner cut during the shaft sinking process, full-scale mining is progressing away from the shaft. Suitable instrumentation has been installed to monitor deformations associated with the shaft reef removal. Enlever rapidement le filon du puits est en général considéré nécessaire dans les galeries de fond des mines d’or sud-africaines pour éviter l’accumulation nuisible de contraintes associée aux piliers de protection de puits traditionnels. Dans le cas de la mine d’or Beatrix, relativement peu profonde, l’enlèvement était motivé en grande partie par l’accès rapide au minerai et par conséquent un profit plus rapide sur l’investissement. Un certain nombre d’options furent considérées pour protéger le puits contre les changements de contraintes potentiellement nuisibles, et pour minimiser la déformation dans l’aire puits/filon. La modélisation numérique fut utilisée pour évaluer les options et pour quantifier aussi précisément que possible les déformations probables que la conceptualisation du puits devrait prendre en compte. L’option choisie fut une combinaison de piliers satellites placés à des points stratégiques avec des piliers de protection, et terre de remblayage. Pendant le fonçage de puits une petite coupure intérieure fut exploitée, et maintenant l’exploitation à grande échelle, au-delà du puits, est en cours. Les instruments nécessaires ont été installés pour surveiller les déformations associées à l’enlèvement du filon du puits. Die frühe Entfernung des Riffschachtes wird normalerweise bei südafrikanischen Tiefbaugoldmienen als notwendig erachtet um den zerstörende Druckaufbau zu vermeiden, welcher mit traditionellen Schachtschutzpfeilern verbunden ist. Im Fall der verhältnismäßig flachen Beatrix Goldmine war es hauptsächlich vom frühen Zugang zum Erz und dem konsequenten frühen Rückfluß des investierten Kapitals motiviert. Eine Anzahl an Optionen wurde erachtet um den Schacht vor möglichen zerstörenden Druckänderungen zu schützen und Deformationen im Riffschachtbereich zu minimieren. Um die Optionen zu bewerten und mögliche Deformationen so genau wie nur möglich quantitativ darzustellen die von den Schachtstahlkonstruktionen aufgenommen werden müssen, wurden numerische Modelle verwendet. Die gewählte Option war eine Kombination aus strategisch plazierten exzentrischen Pfeilern und Schutzpfeilern sowie Hinterfüllungen. Nach dem Vortrieb eines kleinen inneren Einbruches während des Abteufens wird der Vollvortrieb vom Schacht weg vorgenommen. Um die Deformationen, die mit der Riffschachtentfernung verbunden sind zu überwachen, müssen geeignete Instrumentenausrüstungen installiert werden.

Jan 1, 2003

Mixed integer programming (MIP) has been used for optimizing production schedules of mines since the 1960s. The major problem in the long-term production scheduling for an entire orebody is that the number of integer variables needed to formulate an MIP model is too large to solve the formulation. This number may reach well over one hundred thousand. To overcome this difficulty, this paper presents two new algorithms to reduce the size of the problem. These algorithms assign an earliest and latest possible start date for each machine placement, eliminating the integer variables that correspond to machine placement before its early start date and after its late start date. A case study based on Kiruna Mine, the second largest underground mine in the world, is summarized in the paper. It shows substantial improvement in the solution time required using the new algorithms. This increased efficiency in the solution time of the MIP model allows it to be applied to Kiruna Mine, with the potential to increase substantially the net present value (NPV) of the project.

Jan 1, 2008

By H. T. Clausen

This paper gives a brief review of the main environmental and ecological problems of slimes dams, both those created in the immediate vicinity of the dams and those influencing the region or catchment. Methods of dealing with these problems and influences on existing dams are described. The difficulties encountered in the growing of grass on steep slopes are explained, and, after an analysis of the conditions, a plea is made for flatter slopes on the sides of dams.

Jan 12, 1973

By T. Uysal

The increasing demand for rare earth elements (REE) in highly strategic sectors such as hybrid electric vehicles, renewable energy, communication technologies, and the defense industry has made REE production methods important. In recent years, studies on REE have increased rapidly; however there are many studies on REE, there are not enough studies in the literature on the economics of the beneficiation process. RE ores are generally leached after beneficiation by gravity, magnetic and flotation methods. In this study, direct leaching, attrition scrubbing and leaching, and flotation and leaching methods are evaluated economically based on the data for the Mountain Pass (MP) facility. According to the sensitivity analysis performed as a function of capital cost (CAPEX), operating cost (OPEX), and rare earths oxides (REO) recovery, REO recovery has the biggest effect on the process economies. Although the flotation method entails additional investment and operating costs, transportation and operating costs are significantly reduced result of the higher grade and recovery. The flotation method is more profitable, with larger NPV and IRR values and a shorter payback period.

Jul 2, 2022

By R. T. Jones

Slags have been produced as by-products from pyrometallurgical processes for thousands of years, and have generally been regarded as waste. Many of these slags are no longer seen as residues merely to be discarded, but as potential economic sources of metals, or as useful by-products in their own right. Slag cleaning can enhance the recovery of valuable metals in existing pyrometallurgical processes, or can produce economic value from recycling old slag dumps. For example, a process has been developed and implemented industrially for recovering cobalt from copper smelting slag in a DC arc furnace. The relatively non-leachable behaviour of glassy slags allows them to be used as a very safe means of disposal of metallurgical waste streams, including many that are classified as hazardous. The high temperatures, reducing conditions, and good mixing that can be achieved in a DC arc furnace enable the effective functioning of this environmentally beneficial means of disposal. Lead blast furnace slag can be rendered safe for disposal by treating it using the Enviroplas process, which strips most of the hazardous lead from the slag (and traps the rest in an insoluble glassy slag) and recovers economic quantities of zinc by absorbing (in a lead splash condenser)the zinc vapour that is fumed off in the furnace. Another example can be seen in the recovery of a chromium- and nickel-containing alloy from stainless steel plant dust, while producing a disposable residual slag. The examples presented here illustrate that it is possible to develop processes that are both economic and environmentally beneficial. Keywords: DC arc furnace, plasma, slag cleaning, cobalt recovery, zinc fuming, Enviroplas, jigging, re-melting fines, environmental, economic

Jan 1, 2004

By R. L. Robinson

An analytical framework is formulated to assist mining companies in assessing the relative merits of mineral exploration and acquisition strategies. The anticipated costs, risks, and returns of each strategy are conceptualised using decision trees. Economic criteria - expected net present value, expected return per unit of investment, and the probability of success - for each strategy are derived(from the appropriate decision tree network. Application of the analytical framework is illustrated using the example of a medium-size company in the Canadian base metal sector.

Jan 1, 1987

By R. H. C. Andrew

With the advent in recent years qf mechanization in deep-level gold and platinum mines, large quantities of rubber was are being used on both production and support vehicles. Conditions in these types of mines are extremely harsh and, as a result, we performance is significantly lower than in other types of mining such as open-cast base metal mining, where more favourable conditions prevail. Various options are available to the user to reduce tyre costs, including the use of retreads, the filing of tyres, and the repair of damaged tyres. While these methods may be generally successful in open-cast conditions, their use in deep-level mining needs to be carefully evaluated for each particular set of conditions. A basic requirement for any evaluation of we costs is the availability of reliable data on tyre performance and, for this reason, it is essential that proper tyre records are maintained This paper reviews the performance of tyres in deep-level gold and platinum mines in Johannesburg Consolidated Investment Company, Limited (JCI) over a period of about 8 years, and shows how the costs of retreading and tyre filing can be evaluated in practice. It also discusses the cost implications of repairing damaged tyres.

Jan 1, 1994

By H. Kose

In this research, a model quarry with an annual production capacity of 1 000 000 tonnes has been studied for both pit and hillside quarry cases with constant overall slope angle and variable bench slope angle, considering road grades of 8 per cent and 10 per cent. First, technical requirements have been determined and then the effect of production parameters, such as hole diameter, type of quarrying (pit or hillside) and road grade, on the cost has been investigated to determine bench height. Based on the results, it has been concluded that hole diameter has to be kept large in both pit and hillside quarrying to reduce drilling unit costs. In addition, in order to take advantage of gravity and reduce transportation cost, it has been suggested that bench height and road grade have to be kept high and low respectively in the case of hillside quarrying (downhill transportation) while, in the case of pit quarrying (uphill transportation), bench height and road grade have to be kept low and high respectively, in order to transport the blasted material to a lower height and distance, to save energy, thus decreasing the transport cost. Keywords: Quarry, pit, hillside, road grade, bench height

Jan 1, 2005

By C. C. Johnson

In the fourteen years that Rössing Uranium Limited has been in production, the metallurgical operations and controls on the leaching plant have evolved through four basic stages. Initially, the emphasis was placed on the achievement of consistent plant operation by overcoming severe startup difficulties. The second stage involved the attainment of the design operating targets, and also the commissioning of the ferric-leaching reactors in order to achieve a ferric ion concentration of more than 3,0 g/l. Improvements in control then became the priority, with the emphasis on consistently achieving the target concentrations of ferric ions, total iron, and terminal acidity. The latest phase has concentrated on the optimization of costs by means of adjustments to the historically established operating parameters in order to achieve large savings on consumables while maintaining the leaching efficiencies. Apart from the obvious incentive of reducing costs in an inflationary economy and a depressed uranium market, impetus for this work was given by a change in the type of ore from the open pit, which has the effect of reducing the extraction efficiency while increasing the consumption of consumable materials. These problems and their solutions are discussed in detail, and the importance to cost-effective optimization of an accurate, up-to-date cost-reporting structure is stressed.

Jan 1, 1990

Mining executives often have a difficult task determining what the strategic objective of the business should be as this can be impacted by the prevailing market conditions. In addition, they have no mechanism to quantitatively 'test' the impact of this strategic decision on the business and understand the underlying dynamics. During the commodities bull run of 2003 to 2008 the strategic objective may have been to grow the long term value of the business (NPV) through increased tonnage, acquisition and finding new reserves, which all came with an increasing fixed cost base. Now with the financial crisis upon us and the collapse of commodity prices and demand, executives have adjusted their strategies as 'cash is king' and short-term cash flow, in some instances at the expense of long terms value, is the order of the day. For many mining companies, mine closures, reductions in production and cost cutting exercisers are now the focus. In many instances, management do not have an ability to rapidly test different strategic alternatives to 'test' the impact on value, unit costs, reserves and profitability at the operational level and optimize the underlying trade-off variables. Economic modelling of the complete business value chain is a means of linking the operational 'reality' and strategic choices, so that the full impact can be assessed. This paper describes some of the challenges facing mining executives and how economic modelling can be applied to make decision making more rigorous.

Jan 1, 2010

By N. Sasto, E. Bondi, G. R. Lane

Cyest Corporation has been involved in economic modelling and optimisation with various mining clients within South Africa, and internationally, for the past 5 years. In the mining industry in particular, the relationships between variables that are controllable, and those that are not, and the physical and economic outcomes are complex and often non-linear. These relationships constitute an economic system. In the mining context, although many of the relationships can be accurately quantified on a ?single variable to single variable? basis, such simplistic relationships will not suffice in order to understand the dynamics of an entire mine. One has to specify and quantify the relationships between hundreds, if not thousands, of variables. Furthermore, in reality, these relationships change over time. This is the role of an economic model where all the relevant cause-effect relationships, within pertinent constraints, are accurately represented. Models that are used for optimisation must therefore capture the dynamics of the economic system in question as well as anticipate changes to the relationships between these variables. An accurate economic model is a prerequisite for successful optimisation. Optimisation entails the allocation or configuration of resources, within control of management, which will maximise (or minimise) a desired objective function. An optimal configuration (implying trade-off) of controllable variables therefore exists for a given set of assumptions that will yield a maximised objective function. Due to the multi-variant trade-offs required for optimisation, the concept of the ?Economic Surface? or ?Hill of Value? has been used to represent these optimisation outcomes and to discern the route to an optimal configuration. A good example of this is the volume versus cut-off grade trade-off that yields an optimal value for a particular shaft with its unique geological and economic assumptions. More recently, Cyest has extended these economic models to incorporate risk associated with variance in assumptions and inputs. This is termed DFA (dynamic financial analysis) and incorporates stochastic modelling and some of the latest actuarial techniques around modelling global assumptions (such as pricing and exchange rate). This paper will cover the theory around mine optimisation through some example case studies, and also explain the latest thinking regarding incorporating DFA.

Jan 1, 2007