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By L Wsrell

During recent years the iron ore industry has experienced a continuous consolidation trend following increased merger and acquisition activities. Analysing and evaluating these mergers is important in order to establish potential effects. The purpose of this paper is to analyse the price effects caused by the merger between Rio Tinto and North Ltd in 2000. The merger was cleared by the European Commission, as well as the Australian Competition and Consumer Commission, shortly after its announcement. The analysis will be conducted using a simulation model based on a proportionality calibrated almost ideal demand system, which uses the premerger situation in order to estimate the post-merger outcome. The relevant market is defined using shipments data. This is followed by the simulation model applied to the defined relevant market. The results show that the concentration on the market, given by the HHI, increases approximately 15 per cent, and that the market share of the new companyÆs reaches almost 20 per cent. Compared to the CommissionÆs assessment the results indicate a more concentrated market and thus a higher concern for possible competitive effects. Furthermore, the results suggest that the predicted average market price increase from the merger is 1.6 per cent. However, the merged firm is able to increase their average price by 5.1 per cent.

Jan 1, 2005

Valuers will often intuitively express the probability that property value will exceed a certain amount . . . 'I think the chances that the value will exceed $50 million are excellent. The chances that they will exceed $80 million are poor'. This paper shows how it is possible to combine the uncertainties of the value of several key items to provide an estimate of the probability of a certain overall value being achieved. The valuation of a large copper/gold deposit was naturally influenced by uncertainties in the base assumptions of costs and metal prices. Potential acquisition of the property through share purchase raised the issue of what was a reasonable intrinsic value for the shares. Market considerations could be used to appropriately adjust the intrinsic value. After a range of possible metal prices and operating costs were determined, estimates were made of their probable distributions. By combining these probabilities in a random selection, a range of property values was calculated. Each value had its respective probability of occurrence. This allowed a most likely value of shares to be calculated. This paper demonstrates how the valuer's intuition is complemented by numerical analysis.

Jan 1, 1994

Since the earliest recorded prospecting of the 1860's mineral exploration and mining in Fiordland has been discouraged by the formidable physical difficulties presented by its isolation, extremely rugged relief, treacherous coastal waters and generally unfavourable weather conditions. Government assistance was often sought by the miners and prospectors but little, if any, support or encouragement was received after the initial period. During the 1840's decorative marble was quarried at Caswell and Dusky Sounds. A prospector discovered and attempted to mine copper sulphides to the north of Dusky Sound (Parks Mineral Beds) and near Mt Solitary. A small Pb, Zn, Cu, Ag, Au bearing quartz reef was discovered and driven on in the granite coast line of Preservation Inlet (Bradshaws Reef) and the ore roasted on site. Alluvial and quartz lode gold was discovered at Preservation Inlet in the 1890's and led to the recorded recovery of 11 000 oz of mainly lode gold. Falloff in grades with depth, thinning and splitting of the reefs and the high mining costs at this location led to a virtual abandonment of the field by 1906. In the late 1950's and early 1960's the geology of Fiordland was mapped by the Geological Survey at 1:250 000 scale, but field work was largely confined to the shore lines of the coast and fiords. In view of the physical difficulties it is not surprising that mineral exploration and mining up to 1970 was limited to the scant attention outlined above.

Jan 1, 1977

Mill liners provide the wear-resistant surface within grinding mills, they also impart motion to the mill charge, ie the grinding process, by providing the key between the charge and mill shell, and, at the discharge end, they remove the ground contents of the mill. As semi-autogenous grinding (SAG) mills have grown in size the process aspects of liner design and their impact on mill performance have become particularly important. While feedback from practical experience is critical to good mill liner design, increasingly sophisticated computer-based tools are being developed to assist in mill liner design.

Jan 1, 2007

By Morandini AF, Occella E, Clerici C, Mancini R

This contribution presents the first results of an experimental research aimed at finding an unified description of the first stages of a rock comminution process. With reference to the case of the jaw crushers and to the specific subject of the comminution law, the tests reviewed and analysed in this contribution have been carried out, at a laboratory scale, on five different materials (limestones, quartzite, serpentinite) at different reduction ratios and feed rates, and accurately recording both total power and idle running power. The analysis of the results has shown that: ò the grain size distribution of the products complies with a modified form of the Rosin-Rammler equation, already found to be well suited to representing the grain size distribution of blasted rock in previous works by the authors; ò observed trends of the consumed power at increasing reduction ratios is steeper than predicted by the classical Rittinger, Kick and Bond laws, Rittinger law representing however a closer approximation of the experimental results; and ò a more accurate description of the experimental results is provided by a modified form of the Rittinger law. Accuracy of the semi-empirical expression has been found to be usually better than ten per cent by comparing actual results with expected Results.

Jan 1, 1993

A Modelling Approach Using a Back-Calculated Induction Time to Predict Recoveries in Flotation

Sep 13, 2010

By P Gy

When it comes to sampling theory, a bad sampler is a bad sampler, no matter what, and a sampler is either bad or good. It also is of critical economic importance to tell and understand the difference, especially in a metallurgical plant. In this paper, the grand principles of Sampling Theory are first recalled, then the most popular types of sample cutters for plants are critically reviewed. It is concluded that the industry has a lot of progress to make in that direction, although improvements usually pay for themselves very quickly.

Jan 1, 2002

Sluice-boxes are by far the most widely used concentrating devices by small-scale operators in PNG who work alluvial gold deposits. The sluice-box designs and their operating conditions used are known to vary widely. The selection of sluice-box configuration and the operating parameters such as the water flow rate is purely based on past experience. Some use small flowrates to increase the fine gold recovery at the expense of efficient separations and capacity while others use high flow rates resulting in increased fine gold losses but with high throughput rates. Recent work has revealed that the combination of riffle height, their spacing and wash water flow rate are the most important parameters that determine the success or failure of such operations. This combination has been shown to depend on the in situ gold and gangue size distributions of the deposit being processed. This paper describes a design procedure which uses a non-linear optimisation method to determine the optimal combination of the above parameters to maximise the metallurgical efficiency of such operations.

Jan 1, 1993

By Murphy MW, Klaric SD

The history, operation and design of the Secor continuous rod production process is described. The effective operation of the plant is influenced by accurate monitoring and control of molten metal properties, mould release application, coolant application and composition and correct setting of all operating parameters. The continuity of operations, which is an essential feature of this type of plant, is also greatly influenced by the service life of wear parts in the operation. This paper deals with three principal wear parts which come into direct contact with copper during operation, these are:

Jan 1, 1985

By Gente P, Eissen JP, Lafoy Y, Charlou JL

The North Fiji Basin (NFB) is delineated by the Vitiaz trench to the North (paleo sub duction zone, Brocher, 1985), the Vanuatu is- land arc (called before New Hebrides arc) to the West and South, the Hunter Fiacture Zone to the South-East and the Fiji islands to the East (Brocher, 1985 ; Larue et al., 1982 ; Carney and MacFarlane, 1982 ; Falvey, 1978). The NFB is characterized by shallow water depths (about 3 km) (Chase et al., 1982 ; Scla- ter et al., 1972 ; Karig, 1971), high heat flow (average of 2.29 HFC) (MacDonald et al., 1973 ; Halunen, 1979), strong positive free air anoma- lies (Worzel, 1965 ; Kogan, 1976 ; Luyendick et al., 1974 ; Solomon and Biehler, 1969) and a geoid anomaly (Malahoff and Larue, 1979) inter- preted as a geoid swelling. Few refraction data reveal a relatively thin crust and sediment co- ver, and the existence of low speeds in the up- per mantle beneath the NFB (between 7,1 and 7,7 km/s) (Larue et al., 1982 ; Raitt, 1956), which could indicate the existence of active spreading zone(s) in this area (Barazangi et al., 1974). Global seismicity of the SW Pacific clearly de- fines the.limits of the NFB, as well as the Lau basin (Sykes et al., 1969). But one can note the low level of shallow seismicity of the NFB (Ham- burger and Isacks, in press) which concentrates in three distinct trends :

Jan 1, 1987

Depressed prices for minerals will force the mining industry to became more efficient. The continuous conveying of pit product is one area in which savings can be made. Conveyors are available, or can be adapted to provide the flexibility and reliability required. Each conveying system will need to be custom designed to suit the particular requirements of the mine. The Australian mining industry must take the initiative and accept the challenge of the new technology.

Jan 1, 1986

By Anderson D

Investigation of a water inflow into Wongawilli Mine in the Southern Coalfield of New South Wales included algal analysis. The determination of algae in the water suggested an external water source. An alternative hypothesis proposed that algae are inherent in a coal mine environment. Investigations to determine the validity of these hypotheses and provide information on the viability and longevity of algae under adverse conditions were conducted in the mine and the laboratory. Results indicated that a mine environment is not natural to algae and is not conducive to their growth. These findings support the hypothesis of introduction of surface water to the mine workings. They indicate that, in the absence of other available techniques, algae can be an effective tracer for use in the determination of a water source.

Jan 1, 1988

The Northland Peninsula of northern North Island, New Zealand contains a complex and diverse record of volcanism which reflects rapid tectonic changes during the late Cenozoic. The main volcanic associations observed on the peninsula are late Cretaceous- early oceanic crust obducted onto Northland at the end of the Oligocene, Miocene arc-type rocks and Pliocene-Quaternary intraplate basalts. This sucession of volcanic successions can be related to tectonic convergence developing into subduction and followed by a an environment of tectonic tension. While the volcanic activity is ultimately linked to specific tectonic regimes, because of rapid change magmatism was decoupled from the specific tectonic event. This decoupling of magmatism and tectonism appears to be a feature of the zones of plate interaction in the southwest Pacific region.

Jan 1, 1990

By C M. Hill

This paper aims to provide a brief overview of the Australian Coal Bed Methane (CBM) industry and more importantly the challenges to sustainable management of the industryÆs by-product, groundwater. In a country where water is scarce and having gone through one of the worst recorded droughts it is vital that this important industry be seen to be managing water in a responsible manner with the greatest environmental and social benefit. Benefits of the water from CBM wells can be enhanced through treatment to produce potable water for domestic or stock purposes, water for irrigation or aquaculture or lower quality or untreated water for industrial or mining purposes. Other options are re-injection of raw water or waste from the treatment processes or discharge to surface waterways. The critical change and difference between CBM projects and traditional oil and gas operations should be that where possible water is no longer disposed of via evaporation ponds with the dual legacy of waste of the water resource and an environmental contamination problem with the remaining salt and brine product.

Jan 1, 2003

This paper will review the experiences of both big and small exploration/mining companies (local and foreign investors), including the impediments to exploration and project development in Indonesia since the Contract of Work was first introduced there (1967 Minerals, 1981 Coal). This is seen through the eyes of a person who has been employed in a managerial capacity in large and small concerns, and more recently as an independent consultant. Comment will be made on the political, legislative and social constraints imposed by the presence of a large group of disparate artisans (illegal miners) who now form a significant component of the Indonesian mining industry; the Bre-X debacle; the impact of the recent Regional Autonomy legislation; and changes to the Mining, Forestry and Environmental Acts. An overall view (including statistics) will be presented as to how recent Indonesian developments have affected international confidence in investing in its mineral sector over the past decade and it will be placed in an international competitive context.

Jan 1, 2004

Nuclear power stations to be installed in Australia will be fuelled from Australian resources of raw materials.This will require the establishment of new manufacturing industries and the eventual expansion of established activities, especially in uranium mining and the preparation of precision metal products.This paper presents some predictions of the possible growth of nuclear power installations in Australia.These might amount to 4000 MWE by 1985 and 11,500 MWE by 1990 and towards the end of the century, about 50 per cent of new generating plant might be nuclear.Predictions are given of the demands for materials (uranium and zirconium) and fuel manufacturing services for four reactor systems which might be considered in the programme.The availability of raw materials and technical capability place Australia in a particularly good position to undertake the manufacture of nuclear fuel; in addition to satisfying the domestic demand we should actively seek export markets for these products.

Jan 1, 1971

By J Champa

The mining industry internationally seems on the verge of a major underground support revolution as suppliers, mines, consultants and researchers develop, test and use thin support (structural) membranes (or superskins as they are commonly called) mainly as a replacement for screen/wire mesh. Thick membrane support in the form of shotcrete (sprayed concrete) has been used since the 1950s in underground mines. Shotcrete, in mines, is generally applied at a thickness between 25 and 100 mm depending on the need. Thin membranes are however applied at a typical thickness between 2 and 6 mm. Certain thin membranes have been available for several years (Tannant et al, 1999), but the intense interest in such supports has only grown in the last few years. The interest lies mainly in the potential to safely reduce the mining cycle time and hence improve productivity. There is however considerable confusion concerning such supports, and this paper attempts to clarify certain aspects and dispel certain misconceptions and myths about thin support membranes.

Jan 1, 2000

By Weller KR

Computer programs are described which help the metallurgist to process sample data from a plant survey; to carry out simple mass balance calculations; to present the results of circuit and equipment performance in convenient form; and to simulate the circuit response to changing operating conditions. The uses and limitations of these programs are explained by following through a case study of the sulphide flotation circuit at Cleveland Tin Ltd. The circuit was sampled, the data analysed, and some process inefficiencies established. Simulation calculations were then made to provide information on which to base decisions regarding possible circuit changes aimed at improving performance.

Jan 1, 1983

The non-metallic minerals, excluding the construc- tions and fuel materials have for long been the "poor relations" of the Mining Industry of New South Wales. The State is self-sufficient in only a few of the industrial minerals and is almost completely lacking in any of the essential fertilizers. The deficiencies must be met by imports from overseas and interstate and in fact New South Wales imports some quantity of every one of the non-metallics. For the year 1967 the value of non-metallic mineral production amounted to only $9,390,000 or less than 3.5% of the States total of $275,900,000 for all classes of mining and quarrying. In roughly the same period, the 1967-68 financial year, New South Wales imported non- metallic materials, valued at well in excess of $22,000,000 from overseas and over $2,000,000 from interstate sources.

Jan 1, 1969

The planning, design and construction of a service tunnel, under a major arterial road between two hospitals are described. The multiple uses of the tunnel combine to provide a favourable cost-benefit ratio for the tunnel as part of a rationalisation of services between hospitals. The driven tunnel provides economic, program and approval advantages over that of a cut and cover construction. The cross sectional shape of the tunnel was determined during feasibility studies by the degree of weathering of the Silurian mud- stones, the shallow cover and the proposed excavation equipment as well as the functional requirements. The site investigations covering geotechnical, building, noise and level surveys provided input to the design documentation and construction phases. Monitoring of settlement levels and primary support stresses during early construction stages confirmed the adequacy of the proposed tunnelling methods and support to be used adjacent to the major building foundations. The 140 metre long tunnel was success- fully completed in April 1980 at a cost of $650,000.

Jan 1, 1981