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By J. L. Havenga, L. J. van der Walt, J. T. Nel

"SynopsisThe development of plasma technology at Necsa started in the early 1980s, when the applicability of high-temperature plasmas in the nuclear fuel cycle was investigated. Since 1995, this plasma expertise has expanded to other industrial applications, for example mineral beneficiation, nanotechnology, fluorocarbon production and waste treatment, all of which are also of relevance to the nuclear industry.Necsa has demonstrated the manufacture of plasma-dissociated zircon, zirconium metal powder, carbon nanotubes, silicon carbide (SiC), zirconium carbide (ZrC) and boron carbide (B4C) at the laboratory and pilot plant scale. These materials are commonly used in the nuclear industry. Zirconium alloys are used as fuel cladding material for nuclear fuel assemblies.Necsa manufactured the monomer tetrafluoroethylene (TFE), using 150 and 450 kW DC plasma systems, from which the polymer polytetrafluoroethylene (PTFE) was synthesized for use in filters and as seals in nuclear plants. With the nuclear renaissance at hand, it was demonstrated that plasma technology can be used to produce hydrofluoric acid (HF), which is used in the manufacture of fluorine gas (F2) for the production of uranium hexafluoride (UF6) directly from the mineral calcium fluoride (CaF2) without the use of sulphuric acid as in the conventional process. The recovery of valuable uranium from nuclear waste such as filters, oils, and solids with plasma processes will also be discussed. The destruction of low-level nuclear waste by a plasma gasification system can reduce the volume of this waste by several orders in magnitude, resulting in huge savings in the storage costs. Another product of plasma technology is the encapsulation process for nuclear waste and the production of vitrified product, which could be used as filler material for medium-level nuclear waste.IntroductionDuring the 1980s, a plasma research and development programme was launched at the erstwhile Uranium Enrichment Corporation of South Africa (UCOR) at Valindaba outside Pretoria. The main purpose of this programme was to develop alternative and more economical processes for the processing and manufacturing of uranium compounds used in the nuclear fuel cycle. The conversion of UO2 (as received from uranium mines) to UF6, which is needed for enrichment, conventionally involves several laborious, expensive, chemical processing steps. Plasma processes can eliminate several of the intermediate steps. Enriched UF6 is converted to UO2, which is pressed into pellets that are used in nuclear power plants. Plasma technology could also be used in a modified and optimized conversion process."

Jan 1, 2015

By Y. Poornachandra Rao, P. C. Sudhakar, L. Malakondaiah

NBV commissioned a 27.6 MVA furnace in the year 2005. This paper explains: a)Furnace design features b)Furnace process control, Direct slag granulation c)Continuous casting, Waste heat recovery, Sintering d) Gas cleaning plant, Protection of Environment. Keywords: Furnace Equipment, SiMn Production, Casting, Heat Recovery and Low hood

Jan 1, 2007

By George J. Karcas, Raimo Kuusisto, Pertti Pekkala

Ongoing Outokumpu development in Solvent Extraction and Electrowinning Technology, involving all aspects of process chemistry, equipment and control, extends over a period of close to 30 years. The development in SX started with molybdenum and rhenium, continued with zinc, manganese, cobalt and nickel and is now focusing on copper. The OutoCompact VSF? SX concept, which has been recently introduced, is a honed version of earlier VSF? technology. The Outokumpu VSF? ("Vertical Smooth Flow") SX package includes the DOP ("Dispersion Overflow Pump") units, the Spirok Mixers, the OutoCompact Settlers including their DDG ("Dispersion Depletor Gate") fences and tank farm equipment such as the LOS ("Loaded Organic Scrubbing") tank as well as the CEP ("Copper Electrolyte Purifying") tank. Although the VSF? SX package can be implemented according to several optional lay-outs, the so-called Track version has lately been introduced to the advantage of new plants. The new OutoCompact SX technology decreases the footprint of future VSF? plants. The lay-out, including plant size flexibility, have further been improved by Outokumpu?s new OutoReverse settler technology. Two of several SX plants currently under construction rely on reverse settlers in order to maximize their performance. The Outokumpu EW technology includes process know-how as well as proprietary equipment. The copper EW package consists of permanent stainless steel cathodes based on wax-less technology and lead anodes utilising polymer concrete cells with the double contact bus bar system and ventilation hoods fitted for efficient mist control. The lifting of cell hoods, as well as cathode washing, is done by the cathode pulling crane. Proper electrolyte flows and matching current density further ensure high productivity of LME grade copper cathodes.

Jan 1, 2005

By R. Minango

Solvent extraction of Cu from acidic leach, using an oxime extractant, e.g. LIX 984 or Acorga is a well-known and establishedprocess. As the process advances, Cu is extracted to the solvent and is replaced by H+in the aqueous phase. At high acidity the distribution coefficient of Cu between the solvent and the aqueous phase decreases, and eventually a relatively high concentration of Cu remains in the raffinate, regardless of the number of equilibrium stages. In many processes this phenomenon is immaterial, as the raffinate returns to the leaching and no copper is lost. But when the copper raffinate is used for processing of additional metals, minimal concentration of Cu in the raffinate is essential for an effective process. The recommended process includes three steps: SX-1?standard extraction of Cu with oxime. The resulting raffinate contains about 6?8 g/lCu and 50 g/lH2SO4. SX-N?Extraction of most of the acid into an amine-based solvent, and stripping it with a base, e.g. aqueous ammonia, caustic, Na2CO3etc. The extraction removes no metals, but decreases the concentration of acid from 50 to10 g/l. SX-2?Extraction of the neutralized solution once more with oxime, to remove the residual copper. Such a process enables one to get down to 100?150 ppm Cu in the final raffinate. This process was developed and tested in the R&D facility at Chambishi Metals plc, by a joint team of Chambishi & Bateman, using Cognis LIX 984N and real solutions from the plant. In the laboratory the equilibrium isotherms for SX-1, SX-2 and the neutralization were developed. Computer simulation of the results showed that the optimal configuration is two stages for both extraction and stripping for SX-1. For SX2, 2?3 stages of extraction and two stages of stripping are needed. The stripping stages may be common to both SX-1 and SX-2. The neutralization of SX1 raffinate was tested both by conventional precipitation with lime and by extraction with alamine-based solvent extraction and stripping with a solution of 10% NaOH. For the SX-N only one stage was needed for both the extraction and stripping. The bench scale pilot plant was run for both SX-1 and SX-2. The results were very similar to the simulated ones, and the configuration of 2E2S for SX-1 and 3E2S for SX 2 delivered the required raffinate with less than 150 ppm Cu.

Jan 1, 2005

As the world continues to face the turmoil of the economic environment, legislative prerequisites and physical conditions the intervention of technological development is vital for the continuation of the ancient source of revenue: mining. The Palabora underground mining project is a state-of-the-art shaft mining system that will prove to be a benchmark in its field for years to come. An integration of modern technology?both in application and development?has resulted in a shaft system that is intrinsically holistic. Every aspect of the mining and production process has undergone thorough investigation, simulation and innovation to ensure that every component is selected by design and not simply conforming to past practice or trends. The process philosophy includes proven technology such as to promote the lowest operating cost and process time with the highest yield. The underground mining system is in the final stages of commissioning and will shortly be producing a nominal 30 000 tons per day with a predominantly automated system. This paper discusses the complete state-of-art shaft system developed for the Palabora underground mine, and refers particularly to the headgear, the winders, the conveyances and the shaft guide system, as well as the loading system developed specifically for the high performance requirements of the mine.

Jan 1, 2000

By E de Villiers

Several methods exist by which the capacity of a dense media separation (DMS) plant can be improved: 1) Increase the feed rate in spite of efficiency 2) Replace with bigger equipment 3) Add whole new module 4) Replace total plant 5) Change over to four shift/ seven days per week roster 6) Replace with alternative process 7) Increase the availability and utilization Options 1 ? 6 have varying degrees of cost implications. The seventh option would seem to be the easiest. Normally it is also the function of the plant operating and maintenance team to maximize this. Usually higher operating and maintenance cost are associated with an increase in these parameters. A general principle that is applicable to plants and systems is that as the complexity increases, the total availability decreases. By simplifying the flow line it may be possible to reduce cost while at the same time increase the availability and utilization. The typical standard DMS flow line contains components that compensate for the variance in pump performance or for the inefficient recovery of ferrosilicon with additional equipment. Things have changed though: 1) Advanced electronic control and monitoring is possible 2) More efficient magnetic separators are available 3) New more user friendly densifiers are available ORIGINAL FLOW LINE In principle the process consists of four flow lines or streams 1) Ore flow ? the feed is divided into a waste and product stream by means of the separating vessel

Jan 1, 2006

By L. Mpolokeng, J. P. Labuschagne, H. Yilmaz

"An investigation into pillar cutting was carried out at a platinum mine on the western limb of the Bushveld Complex. The focus was on crush pillar design and implementation in order to ultimately improve the compliance percentage for pillar cutting. The major findings from the investigation suggest that the pillar cutting problem lies with the implementation of the design rather than the design itself. Observations of the practical issues underground that prevent good pillar cutting were made. After these issues had been identified, recommendations to rectify these problems and a few other issues identified during the investigation were provided. The recommendations are aimed at improving the pillar cutting compliance and reducing the likelihood of pillar bursts or pillar runs, which will ultimately create a safer mining environment. Paper written on project work carried out in partial fulfilment of BSc. Eng. (Mining Engineering)"

Jan 1, 2015

By C. W. Siyasiya, K. A. Annan, W. E. Stumpf

"SynopsisThe relationship between niobium content and austenite grain growth has been investigated through hot rolling simulation on a Bähr dilatometer. The effect of delay time between passes during rough rolling in Nbmicroalloyed steels with nitrogen contents typical for electric arc furnace (EAF) melting was studied. The results indicate that the grain growth constants n, Q, and A increase with an increase in Nb content. The activation energy for austenite grain growth Q was found to be in the range of 239 to 572 kJ/mol, the exponential constant n ranged from 2.8 to 6.2, and the material and processing condition constant A from 4.24 × 1012 to 4.96 × 1028, for steels with niobium contents ranging from 0.002% Nb to 0.1% Nb. A general constitutive equation for the prediction of austenite grain growth in these Nb-microalloyed steels under rough rolling conditions has been developed. Good agreement between the experimental and the predicted values was achieved with this constitutive equation.IntroductionGrain refinement has been found to increase both the strength and toughness of steels (Gao and Baker, 1998; Sharma, Lakshmanan, and Kirkaldy, 1984; Seok et al., 2014; Maalekian et al., 2012). It is also known that the austenite grain size directly influences the microstructure, and thus the mechanical properties, of the steel (Maalekian et al., 2012; Yue et al., 2010). Effective grain growth control is reported to be achieved through addition of precipitate-forming elements, such as Nb that, slow down the grain boundary migration through pinning and solute drag mechanisms (Yu et al., 2010; Olasolo et al., 2011; Alogab et al., 2007). Much work has been carried out on austenite grain lsize control by the addition of precipitate-forming elements that have a strong affinity for interstitial elements, such as carbon and nitrogen, which form the dispersed pinning particles to inhibit the austenite grain growth (Alogab et al. 2007; Hodgson and Gibbs, 1992; Nanba et al., 2003; Flores and Martinez, 1997; Rollett, Srolovitz and Anderson, 1989). Austenite grain growth can be described using a conventional or a modelling approach. With conventional approaches (e.g. metallography), in-situ monitoring of austenite grain growth at high temperatures is impossible. Modelling the grain growth behaviour based on available data is the ideal option. To quantitatively describe austenite grain growth therefore requires development of a sound mathematical austenite grain growth equation that accounts for the effects of the varying microalloying elements in inhibiting austenite grain growth. Numerous attempts have been made to develop an empirical model based on the general equation developed by Sellars and Whiteman (1979). Many of these models do not account for the direct effects of the microalloying elements such as Nb in austenite grain growth control [Fu et al., 2011; Wang and Wang, 2008; Wang et al., 2006; Shanmugama et al., 2005; Banerjee et al., 2010; Pous-Romeroa et al., 2013). The current work has considered this limitation, taking into account the direct effect of niobium in grain growth control during thermal processing. This is done by incorporating the initial austenite grain size Do and the microalloying element niobium in the development of a constitutive equation for grain growth prediction in Nb-containing microalloyed steels."

Jan 1, 2015

By X. H. Zhang, J. G. Cai

This paper discusses the behaviour of large-span tunnels and caverns in hard rock in a major underground storage project. In-situ stresses were measured using hydraulic fracturing during site investigation and 3-D overcoring during construction, with both showing a horizontal stress ratio of 2-3 times the vertical stress. Rock reinforcement design was based on the Q-system combined with numerical modelling for special design cases. Tunnel design and performance were checked and monitored by in-situ instrumentation during rock excavation, including measurements of deformation, convergence, and load on rock bolts. Deformation measurements using borehole extensometers included one borehole drilled into the virgin rock before rock excavation, which provided a direct and very insightful comparison with the various deformation measurements made during rock excavation. These measurements coupled with numerical calculations have proven that the high horizontal stresses to be very favourable to the stability of the large openings.

Jan 1, 2003

By X. Bai

A new heuristic sublevel mining stope optimizer is presented. The optimizer seeks the best locations and lengths of a series of vertical raises that, together with the blocks linked to each raise, define a mining stope. Five design constraints ? the footwall angle, the hangingwall angle, the number of raises, the maximum distance of a block from a raise, and the minimum width required to move the farthest block towards the raise ? allow the shape of the sub-stopes associated with each raise to be controlled. The optimization is done on the locations and lengths of raises using a genetic algorithm to efficiently sample the parameters? space. For each raise, a local network is defined in cylindrical coordinates around the raise such as to impose the design constraints. A maxflow algorithm on the local network is used to determine the optimal sub-stope for each raise. All substopes are combined to define the global stope for the entire deposit. The best global stope is obtained using a genetic algorithm to find the raise parameters providing the best profit over the entire deposit. Two synthetic cases and one real deposit are used to evaluate the new algorithm and compare the results with the single-raise optimizer. The multiple raises approach leads to significantly improved economics compared with the single-raise stope optimizer, and the dilution is also substantially reduced compared to the single-raise case.

Jan 1, 2014

By J. D. Steenkamp

In a paper presented at the Heavy Minerals Conference 2001 a laboratory scale investigation on the beneficiation of an ilmenite containing waste stream by magnetizing roasting was reported1.This waste stream contained a high concentration of ilmenite, which was contaminated by chromite and other gangue minerals. Interpretation of the results of the investigation was based on the assumption that during magnetizing roasting of an ilmenite concentrate, under the oxidizing conditions, the magnetic properties of the chromite would remain constant. In this article the following hypothesis was tested: The magnetic susceptibility of chromite would remain constant during magnetizing roasting of an ilmenite concentrate under the oxidizing conditions reported by Gouws and Van Dyk1. The results of this study indicated that the hypothesis is not true. The increase in the magnetic susceptibility is not significant though and it is expected that it will not influence the final ilmenite quality to a large extent. Based on the assumptions that the bulk magnetic susceptibility of the waste stream samples represents that of the ilmenite in the waste stream, and the bulk magnetic susceptibility of UG1 chromite that of the chromite in the waste stream, the results also served to confirm that the waste stream with a high chromite content should be roasted under oxidizing conditions, in a reactor with a well-defined retention time distribution (i.e. a fluidized bed reactor), at a roasting temperature of 750°C (rather than the higher temperature ranges of 800°C and 850°C).

Jan 1, 2003

Following a short review of selected literature, a back analysis of stress measurements of stress regeneration in a closed mini-longwall is shown. The agreement is good, lending confidence to the parameters used in the proposed numerical model. Foundation yielding was modelled in the absence of total stope closure. A ?Prandtl? wedge was formed, coinciding with the yield point of the pillar/foundation system. Some theoretical work is used as a starting point for the formulation of a new design methodology for strike or dip stabilizing pillar/foundation systems in deep level goldmines. The existing guideline for the stability of foundations (APS< 2.5UCS) is critically examined. Finally, the advantages of the new approach, and the work required to substantiate the proposed new design methodology, are outlined.

Jan 1, 1998

By A. Cichowicz

The objective of this work is to quantify the effect of the rock mass surrounding a stope or a tunnel on the seismic signal so that the rockburst damage on the excavation can be derived. It has been shown that the transfer function of rock mass surrounding an excavation can be modelled using a damped oscillator. The method of estimating the transfer function is extended in this paper. The parameters of a damped oscillator are estimated using inversion techniques and the transfer function is modelled as a time-varying system. The technique is tested on data acquired at three different sites in two deep gold mines. Employment of a modal model of the transfer function was suitable in two cases. Application of this technique is essential to track the time variation of the natural frequency during ground motion caused by a seismic event.

Jan 1, 1999

By S. Sun

The equilibrium distribution of Cu, Fe and Ni between Cu-Ni-Fe mattes and Pt alloy was measured as functions of the sulphur partial pressure (pS2), oxygen partial pressure (pO2),temperature and Fe content of the matte. The distribution ratios of Cu, Fe and Ni between matte and alloy were independent of oxygen pressure when the pS2was fixed at 2.5x10-5atm and pO2was varied between 10-15and 10-12atm. The distribution ratio of Cu, Fe and Ni increased as the sulphur partial pressure increased. The Cu and Ni distribution ratios decreased with increasing temperature and the Fe distribution ratio increased slightly over the temperature range of1350?1500°C. For mattes where the proportions of Cu and Ni were kept constant, the distribution ratio of Cu increased as the Fe content in the matte increased. The Fe and Ni distribution appeared to be independent of the iron content in the matte and had a value of 1.2 and 1.6 respectively. The activity of Cu, Fe, Ni in the matte was calculated using a regular solution model for solid Pt-Fe-Ni-Cu alloy. The activity coefficient of Cu, Fe and Ni decreased as pO2and pS2increased.The activity coefficients also appeared to be independent of the Fe content and temperature over the range of 36 to 54 wt% iron and 1350 to 1500°C respectively. Keywords: activity, alloy, matte, thermodynamics

Jan 1, 2004

By I. Fedotov

One of the most effective methods of metal surface heat treatment is through laser hardening. In most cases, laser parameters are determined experimentally, which is expensive and time-consuming. A mathematical model for the surface heat treatment process will allow a significant decrease in costs, and reduce the time required for optimization. In the present work, the authors present a mathematical model for laser heat treatment with forced cooling which can be applied to medium carbon steel. The model is based on a three-dimensional heat transfer equation using Green?s function. The model allows one to calculate the temperature of the treated steel at different depths below the surface with and without cooling, for set values of the laser power and travelling speed, when the heat transfer coefficient is a known constant. It also takes variations in the radiation adsorption coefficient on the metal surface and laser beam spot size into account. The model was illustrated by comparing calculated and experimental temperature profiles of mild carbon steel with 0.5% C with and without cooling. A reasonably good agreement was achieved between experimental and predicted values to ensure that a high enough austenizing temperature with short enough cooling time was reached for direct martensite formation. It also predicted the depth of treatment accurately. The incorporation of cooling in the model substantially improves previous models based on heat transfer only. It delivers a tool that can with a reasonable accuracy predict the depth of surface heat treatment and cooling time required from operational parameters, such as laser power, speed of motion, and distance between laser and cooling source, that can be controlled in the work set-up. This can eliminate trial and error efforts and result insignificant time and cost savings. Keywords Laser, surface treatment, martensite transformation, carbon steel, heat treatment.

Jan 1, 2011

By A. Bascetin

One very important aspect of mining is deciding what material in a deposit is worth mining and processing, versus what material should be considered waste. This decision is summarized by the cut-off grade policy. The cut-off grade strategy for an open pit mine influences the annual cash flows and affects the net present value of a project. The optimization of cut-off grade strategy requires the knowledge of detailed operational costs, mining sequence, mining operation, processing, and product constraints, as well as the grade distribution of a given deposit defined by pit, phase, and different material types. Cut-off grade optimization algorithms have been developed in the past. The most common criteria used in cut-off grade optimization is to maximize the net present value (NPV). This paper describes the determination of a cut-off grade strategy based on Lane?s algorithm adding an optimization factor based on the generalized reduced gradient (GRG) algorithm to maximize the project?s NPV. The introduced algorithm is a windows based program developed at Virginia Tech that is based on a series of Visual Basic routines within a spreadsheet environment (Excel).The benefits of the methodology are demonstrated using a hypothetical case study. Keywords: Cut-off grade optimization, net present value maximization, generalized reduced gradient algorithm method.

Jan 1, 2007

By M. R. Bitarafan

Mining method selection is the first and most important problem in mine design. In this selection some of the parameters such as geological and geotechnical properties, economic parameters and geographical factors are involved. The mining engineer must balance the input parameters and select the method that appears to be the most suitable; mining method selection is both an art and a science. Distinguishing all parameters that have an effect in mining method selection and in the determination of weighting factors of any parameter is a difficult task in an ordinary environment. This paper attempts to determine important parameters that impact on the mining method selection and demonstrates the calculation of the weighting factors for each selected parameter. This study has been directed to the research of a methodology for the selection of an optimal mining method. Different fuzzy methods are presented as an innovative tool for criteria aggregation in mining decision problems. Two methods of fuzzy multiple criteria decision making are used for selecting the optimal method with which to mine anomaly No. 3 of the Gol-Gohar iron mine. This paper finally presents a comparison of the selection methodologies and further discusses the most appropriate method investigated.

Jan 1, 2004

By D. A. Bruce

The paper describes the construction of 5 plugs to resist high water heads at depth within the South Deep Gold Mine, Randfontein, South Africa. A total of 20 segments were involved to create these plugs, which were 7.5 m long at the 58 Level and 6.25 m long at the50 Level. Emphasis is placed on the QA/QC and verification methods, which were developed and governed all phases of the work, from initial rock preparation and pregrouting through to the final grout tightening of the rock/plug interface and the surrounding rock. This paper is one in a series of papers detailing other aspects of the project, which was constructed largely between May 2001 and August 2003.

Jan 1, 2006

By E. V. Lilford

Valuators of mineral properties are faced with a range of valuation methodologies, the most important of which are grouped under the headings of the market approach, the cost approach and the income approach. The way in which value is defined and the detail of the different valuation methodologies is examined here. This paper aims at documenting the variety of valuation procedures and applying each method to a variety of gold projects and comparing the outcomes. Any decision to apply a valuation technique will depend principally on the stage to which the project has been developed. The valuation approach to a greenfield project will be substantially different from that applied to a well-drilled, extensively explored mineral property. Furthermore, a valuation exercise may produce different outcomes for the same gold project depending on which method is applied. In order to investigate the variability in valuation methods and to explore the outcomes of different approaches, a series of five gold projects was analysed. The projects differ in regard to levels of capital application, infrastructural setting, depth below surface, in situ grade, and the stage of development, and were valued using the different methods. The most critical aspect of any valuation is the capacity of the valuer to identify the salient issues and ensure that they are incorporated into the valuation. The danger of simply applying ?black box? solutions to valuation problems without a full understanding of the parameters and the areas of uncertainty is emphasized. The importance of the valuator?s experience, insights into best practice and the ability to recognize and submit to the requirements of compliance within the minerals industry is among the most important characteristics of a valuer.

Jan 1, 2005

By C. Hutton

"SynopsisThe last commodities supercycle (2003 to 2011) was characterized by a belief in volume at any cost, where absolute output was deliberately prioritized over productivity considerations. This practice fuelled overoptimistic forecasting and planning, which in turn contributed to the economic crisis that followed. The sudden collapse of commodity prices has resulted in mining companies scrambling to find the right balance between optimizing current operations and preserving sufficient flexibility to grasp future opportunities. The runaway costs of building and operating mines have almost squeezed out profit margins, while lower ore grades are inflating production costs. Mining companies therefore need to look at the business with fresh eyes, and develop strategies to attract equity capital as traditional approaches are simply not working anymore. This is especially so in the context of a dwindling investor base that continues to demand greater returns, despite a significantly lower appetite for risk. This paper revisits the micro-economic concepts and demonstrates how pressure from shareholders to prioritize output contributed to spiralling costs and value destruction. Practical techniques are described to model cost curves to optimize a Mineral Resource endowment and address the need to rightbalance a business and preserve agility.IntroductionHenry Lazenby (2014) for the Mining Weekly writes, ‘Bruised and battered, the global mining industry today is undergoing a sea change. Practices and policies that might have worked wonders in the past are not as relevant today, and new approaches to running profitable mining operations need to be found.’ One significant practice the mining industry had during the last commodities supercycle (2003 to 2011) was chasing volume at any cost; absolute output was deliberately prioritized over productivity considerations (Goldsmith, 2013). Lazenby contends that in the face of falling and volatile commodity prices, many mining majors ‘across all commodity groups are currently grappling with sagging profits and low company valuations. This is often regarded as the result of the were in pursuit of growing their output at all costs in a high commodity price environment.’ Lee Hodgkinson, KPMG’s Canadian mining industry leader and quoted by Lazenby, says that ‘mining companies are now trying to find the right balance between optimizing current operations and preserving their agility to grasp future opportunities. The runaway costs of building and operating mines have almost squeezed out profit margins [whilst] lower grades of ore are inflating production costs. Mining companies need to look at the business with fresh eyes, and develop strategies to attract equity capital as it seems clear that some of the traditional approaches to the mining business are simply not working anymore."

Jan 1, 2015