Search Documents

The theme of this paper is the development of-the project feasibility study which includes discussion of the work which is carried out in preparing the project feasibility study, the necessary evaluations and structures that are employed to ensure that not only does the feasibility study itself stand up to scrutiny and is sound, but also that the investment the company is proposing to develop, "the project", is an investment decision which will represent good returns to the company. This theme is particularly relevant when there are competing divisions within the company and only limited cash resources are available to make the correct investment decision. Thus various potential investments may be evaluated against each other to determine which project will be given the go ahead for development. This paper will particularly focus on the various investment analysis techniques that are used and discuss the work that is required in preparing the project feasibility study and specifically the interaction of the project team members and the thought process that must be undertaken to complete the project feasibility study. Finally comments will be made on tax planning issues particularly with respect to taxation of gold production to be introduced in January 1991. Some ideas are presented which may help and possibly improve the financial position of the projects being reviewed. Further, it is suggested that the thought process which goes with the financial engineering aspects of a resource project can be widened to take account of taxation issues and tax planning to ensure the rise of the project feasibility and hence the decision to proceed to development by the project sponsors.

Jan 1, 1990

The difficulty of accurately sampling cyanide gold bullion for valuation is well known, and nothing new or original is claimed in presenting this paper, but it was thought that a record of differences in the composition of bullion bars found here may be of interest to others, and perhaps helpful to those who have to do with theevaluation of cyanide bullion. This investigation was made after reading Mr. Sydney W. Smith's interesting paper on the Liquidation in Molten Alloys.*A method was in use of boring each ingot in two places and mixing the two borings for the sample. More accurate values were obtained, however, when the bullion was sampled in a molten condition immediately before casting into the ingot; the sample being so taken as to preclude oxidation of base metals before solidification of the sample.In all, samples from 32 ingots were assayed, and comparisons made between the existing boring sample and the proposed dip sample. Assays were also made of two other portions of the borings from each ingot, and the results show that in the majority of cases the borings sample assays higher in gold than the dip sample of the same ingot.The largest ingot cast weighs approximately 920 troy ounces, and has the dimensions shown in the attached sketch (Fig. 1). Ingots are cast in 0.1. moulds i in. thick, smoked and heated.METHOD OF TAKING BORING SAMPLES OF BULLION BARSThe bar is cleaned from adhering slag and drilled in two places only, to a depth of i-in., one hole on the top near one end and the other in the bottom at the opposite end of the bar.

Jan 1, 1931

The small scale alluvial gold mining industry in Papua New Guinea (PNG) is c.irrently the only form of small scale mining carried out in this country. It already contributes significantly to the economy with current production estimated at 2 000-2 500kg per year. Until recently, small scale alluvial gold mining has been confined to simple panning and sluicing of high grade alluvial and colluvial deposits. Traditionally the small scale miner in PNG has only worked gravels with gold grades in excess of 500mg/m3. Grades of this order are required to justify the hard physical labour involved ~n hand operated small scale mining methods. .he introduction of higher throughput technologies such as trommels fed by hydraulic excavators has the effect of altering what constitutes an economically viable deposit. Mechanised techniques allow for the consideration of grades of almost half that level. The potential and opportunities for utilising this type of small scale mechanised mining in PNG are enormous with large areas of ground with gold grades running in excess of 250mg/m3 and often up to 2000mg/m3 throughout the country. An assessment of the current operating economics of this technology in the PNG context is the principal objective of this paper. Small to medium scale mechanised mining can potentially contribute significantly to the PNG economy particularly as it lies within the react-, of many PNG businessmen. Its potential is currently somewhat limited by a general lack of infrastructure and is also constrained by socio-political factors.

Jan 1, 1991

If the industry keeps doing what it has always done, it will continue to get what it has always got - rising operating costs. Why is this so? Generally grades being chased are becoming lower, stripping ratios becoming higher, ability to attract personnel to the industry becoming harder and/or more expensive, higher safety standards are being demanded and environmental governance is being enforced.   How then should the surface mining industry plan for the future whilst delivering on improved safety and the environment? In-pit crushing and conveying (IPCC) points the way, as a partial or complete substitute for trucks.   IPCC systems promise significant advantages over traditional truck and shovel operations, including improved safety, reduced operating costs, reduced dust and noise emissions, far greater efficiency in energy use (electric versus diesel motors predominantly and the ability to regenerate electricity back into the local grid for downhill situations), reduced carbon emissions (dependent on power generation source) and reduced water consumption. Despite these advantages, there is a general industry reluctance to migrate from truck and shovel operations. This reluctance stems from a familiarity with truck and shovel operations and a perceived concern that IPCC lacks flexibility which will negatively impact on the mining operation.   In studies conducted since 2007 (with the new modular builds) comparing IPCC with truck-optimised pit designs, IPCC has delivered up to USD$0.82 per tonne moved less than an equivalent truck operation. In addition, IPCC is easily automated from a central control room (local or remote) - something that trucks have yet to commercially achieve.   IPCC is a proven process that, with a fresh mindset, can make a significant improvement to mining operations - its safety, the impact on the environment and its costs. It maybe of interest to note that there is over 200 IPCC installations worldwide today.   This paper and presentation will assist in furthering the understanding of IPCC and its applicability.

Jun 1, 2010

By McKenzie A. M

The Corridor ore body is so named because it occurs in an east-west zone or corridor of schist bounded on the north by the siliceous conglomerates of Mount Lyell, and on the south by similar conglomerates of the Tharsis ridge (Fig. 1). It was discovered after the geophysical prospecting methods described below had defined a target zone for diamond drilling.Since the proving of copper mineralisation by drilling, the corridor orebody has served the vital function of a convenient known target body for the orientation of more recently developed geophysical methods. Traversing of the orebody by these new methods has provided experience for the evaluation of anomalies elsewhere.Some of the methods applied had not been used in Australia before, and were introduced to the west coast of Tasmania through the undertaking there of modern regional exploration programmes. The authors feel that the information gained could be of assistance to others engaged in geophysical prospecting.HISTORY OF DISCOVERYProspecting in the Mount Lyell district has been more or less continuous since 1881. The first geological report was published by Thureau (1886).In 1934, Blazey and Douglas (1934-38) commenced geophysical surveys at Mt. Lyell using the equipotential method.They obtained anomalous indications in several discrete zones and actually detected the south-east half of the corridor orebody but their work never became the basis for...

Jan 1, 1961

A drive, 3,500 ft long, was planned to explore mineralization exposed by diamond drilling. A rate of advance of 150 ft per fortnight, approximately double previous Broken Hill rates, was required. Subsequent to the completion of this drive its extension for a further 6,200 ft was planned to provide a main haulage way along which ore could be transported from a newly acquired lease back to the main hoisting shaft, a total distance of 13,500 ft.This paper describes the working conditions, relationships, manning and costs, and gives details of the cycle and equipment used to achieve rates up to 170 ft per fortnight.OBJECTIVEDiamond drilling from the 1,000 ft level at the Delprat Shaft section had indicated that the zone of mineralization, about 150 ft wide, which had been explored on the 1,000 ft level for a length of 2,600 ft, continued downwards with a westerly dip. The drilling results showed that within this wide zone there were arrower lenses of mineralization of possibly payable grade (see composite plan, Fig. 1).Diamond drill holes of 2,000 ft and over, particularly through heavily sheared areas of sericite schist, had been found to be costly, slow, and inadequate in testing the potential and trends of these smaller concentrations of mineralization.It was therefore decided that an exploratory drive should be advanced from the northern limit of the 1,480 ft level into the western mineralization, and that from this drive diamond drill holes should be drilled at dose intervals to outline the ore.The 1,480 ft level was chosen for the following reasons.1. It had the greatest northerly reach of the accessible levels at No. 7 Shaft section below the 1,000 ft horizon and therefore would enable the test to be made most quickly.

Jan 1, 1965

Gas well tests were performed on 17 wells in the Roma area. The procedure used in the test programme incorporates an initial isochronal test followed by what is described as the "two flow drawdown" technique. The second flow of the two flow drawdown test was conducted for sufficient time to allow transient investigation of the surrounding reservoir. This combination of tests allows the evaluation of stabilized production capacity in addition to the determination ,of several important reservoir characteristics.It also provides a qualitative indication of reserves, by reflecting the presence or absence of reservoir boundaries within the drainage area affected during the test.

Jan 1, 1968

By T Higuchi, L Lu

The quality of iron ore fines have been deteriorating, which has affected sinter quality and productivity adversely. New pretreatment and sintering technologies are therefore required to tackle the gradual change in the quality of iron ore fines. In the sintering process, iron ore fines are first granulated with fluxes such as limestone and coke breeze, and are then loaded and fired in a sinter machine. Sinter productivity and quality are heavily influenced by the reactions occurring in the sintering bed. Hence fundamental understanding of these high temperature properties of ores is urgently needed.Formation of initial sinter melt, penetration and assimilation of nucleus particles by the initial melt, and consolidation and final solidification of final sinter melt are believed to be the key sintering reactions. The assimilation and penetration phenomena have been studied separately in the literature with model particles and diffusion couples and are therefore difficult to relate to sinter quality. In addition, the effect of ore mineralogy has not been studied in detail.In this study, tablets consisting of coarse particles from various iron ore fines as nucleus particles and chemical reagents as adhering fines were made and fired under various sintering conditions to investigate the penetration and assimilation behaviour simultaneously. The degree of assimilation, pore structure, compressive strength of the resultant analogue sinters were evaluated and the relationship between sinter strength and ore characteristics was further discussed. The nucleus particles from Ores A and B were found to be more porous and assimilated more readily with sinter melt, resulting in a viscous melt and a macro-porous sinter structure. The nucleus particles from Ores C and D on the other hand, assimilated less readily with sinter melt, resulting in a fluid melt and a denser sinter structure. This is consistent with the results reported in the literature, suggesting that the present evaluation method can be utilised for studying sintering reactions and predicting sinter quality.CITATION:Higuchi, T and Lu, L, 2017. Evaluation of sintering behaviour based on ore characteristics, in Proceedings Iron Ore 2017, pp 303–308 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Jul 24, 2017

By Gunderson C. T

The use of carbide tipped integral drill steels and detachable bits is discussed in relation to the means of drilling or cutting employed. It is stressed that only by correct use can the full value of these tools be realised.Factors affecting carbide quality, the design of shanking steels and the requirements and techniques of brazing in inserts are considered.It is essential that the brazed jointing between carbide and steel be strong but ductile. The methods used for the manufacture of carbide tipped tools are briefly outlined.INTRODUCTIONIn recent years the application of tungsten carbide to various mining tools in the mining industry, has developed to the stage where it is now regarded as an essential item in the production of coal and metal ores. In fact it is claimed that certain mining operations would not be possible if it were not for the benefits obtainable from the characteristic properties of tungsten carbide. The advantages of this hardmetal have, to some extent, influenced manufacturers to revise design specifiations of some machines, while againsome machines have actually been designed with tungsten carbide as their basic medium for operation.In general the applications fall into the following three categories:(a) Drilling hard rock by percussive means.(b) Drilling soft rock and coal by rotary means.(c) Coal cuttingThis paper is concerned with tungsten carbide tools associated with these three activities in Australia, the effectiveness of their application and significant points in their design and manufacture.

Jan 1, 1958

By da Silva C A, Tenorio J. A S, de Assis R M, de Oliveira J R

For Fe-Mn alloy production, two reactions are responsible for this process: the MnO reduction in the slag and the carbon dissolution in the bath. The smelting-reduction process has been studied as alternative route to be used to produce alloy so as steel. This technical paper presents some initial studies to be used to determine the main ways that one can have for the mechanisms for this reaction. The limited factors like mass transport or chemical reaction were analysed. The Mn content in the bath were varied and it was concluded that by increasing the former, dissolution of Mn into the bath was increased, so as a reduction of MnO in the slag. For carbon dissolution, it was used a experiment with a stationary bar, this one was added into the bath, after ten minutes probes were catched, by temperature 1600¦C, for the dissolution of MnO, one graphite crucible was employed, after 45 min the slag and alloy were analysed. After the experimental part, some curves were plotted against time, based on these graphics, and kinetic analysis was made.

Jan 1, 1999

The literature pertaining to the electrochemical reaction at the anode during electrolytic reduction of alumina by the Hall-Heroult process is not in universal llgreement about the gaseous product. The possibility of electrochemical formation of CO at the anode was examined using existing data. Although the thermochemistry favours co-evolution of CO and CO2 with CO as the major product, the mechanism of the reaction shows this is unlikely. Since the origin of CO can be more logically explained by non-electrochemical mechanisims, it is concluded that CO2 is the only product from the electrolytic reaction at all current densities.

Jan 1, 1967

By Gaulton R

The Commission maintains a data base first computerised in 1957 and containing information from over 18 000 boreholes located mainly in the Latrobe Valley area. Some of the borehole derived information dates from the turn of the century, although most of it has been collected as a result of Commission investigations conducted over the past 40 years. The Resource Data Base contains not only information gained directly from the drilling itself but includes the results of chemical and physical testing on many hundreds of thousands of samples retrieved from boreholes. Replacement value of the Resource Data Base has been estimated to be around $200 million, and it's integrity and accessibility is clearly of paramount importance, not only to existing mining and power generating functions but to the future evaluation and use of the vast brown coal Resource.

Jan 1, 1992

Geochemical data on Australian granites and pegmatites, and the mineral components of these rocks, are compared with that obtained in similar studies in the U.S.S.R. and elsewhere.The geochemical character of tin granites and the trace chemistry of their component minerals, particularly biotites, have some significance as ore guides in prospecting for tin.The primary geochemical dispersion of tin can be readily tested both in the laboratory and field by colourimetric methods, after volatilization with ammonium iodide, using modifications of the method described by Wood (1958).Secondary dispersions of tin in residual soils or alluvia can likewise be readly tested by rapid colourimetric methods in the field, but simple hydraulic methods, handling larger sample volumes, give reliable outlines of dispersion patterns.INTRODUCTIONThe search for tin ores, whether lode or placer in type, is usually directed on genetic grounds to country within or adjoining acid intrusives.A long established means of prospecting is to test samples for cassiterite by panning or other hydraulic separation.These methods can be used on crushed lode material or the natural materials from placers.With the advent of new techniques for extraction and for colourimetric analysis for tin (Wood, 1958 and Ross and White, 1961) a means is available for rapid analysis of materials not susceptible to quantitative testing by hydraulic methods because of the fine sizings of cassiterite or the occurrence of tin structurally held in minerals. The new methods thus opened up the field of tin prospecting by extending the search for ore guides to genetically associated rocks and minerals, wall ror-ks of veins and a wider range of superficial deposits.

Jan 1, 1963

A study of literature on the epidiorite dykes which transgress the Broken Hill lode and its wall rocks reveals a considerable diversity of thought regarding the time of emplacement of such dykes. In this paper it is deduced that the epidiorite dykes were formed at a late stage and were probably post-ore. Detailed mapping, sampling, and correlation of data from over 100 exposures substantiates this deduction. Physical disruption of the epidiorite dykes is indicated and some interaction of the epidiorite and ore at the time of intrusion is inferred.Further petrological study may confirm this.

Jan 1, 1968

In spite of the many contributions that have been made to our knowledge of the creep properties of polycrystalline lead, the precise influence of various factors on these properties is not yet fully understood. Indeed, the position is such that several important points in connection with the creep of lead are a matter of controversy. This has been brought about largely by the fact that, in the case of lead, the changes that are produced in the creep behaviour by slight variations of such factors as the purity, grain sizeand previous treatment are out of all proportion to the magnitude of these variations.In order to study the fundamental properties of lead as related to creep, and so gain a more enlightened perspective with which to consider the creep of lead in general, the work that is described in a series of papers, of which the present paper is the third part, has been carried out. It deals with lead in the form of single crystals.It has been shown (1) - (3) that the grain boundaries as well as the actual grains play a part in the creep of polycrystalline lead. The present work, by eliminating grain boundaries, enables the. contribution of the grains themselves to the process of creep, in other words, crystalline creep, to be studied effectively.This object was, possibly, the major one in this work.

Jan 1, 1940

This evening I would like to speak about men for the mineral industry.It is trite to say that the mining industry is expanding rapidly and that technically trained men are in short supply. How short is difficult to assess and impossible to quantify.The industry has been traditionally managed by technically trained men experienced in the ways of their fellow men. Let us start with the assumption that men with this training and experience are essential to management of mining and metallurgical enterprises.I suggest that we do this as it avoids argument with those who are beginning to suggest that such men are not so important as they used to be; who are suggesting that the latest sophisticated business management schools can produce managers who can straight out of school join the upper echelons of an organization and successfully manage it by the use of modern systems and techniques without the need to rub shoulders with men of all callings and get their hands dirty in the process.This kind of thinking brings to mind the modern cargo ship which is equipped with all the latest gadgets of science. It can find its way from Sydney to Auckland with no one in the engine room and the man on the bridge spending most of his time writing to his wife or reading the latest novel.How often do we read of this ship being tied up in Sydney because the crew sympathizes with the cook who has been slighted by some uncomplimentary remark about his toheroa soup? Here is a pieceof sophisticated machinery stopped through no technical fault, but held up by the whim of man. The understanding of man by man can spell the success or failure of any endeavour. A single man can leadan organization to the pinnacles of success, or doom it to utter failure in spite of modern systems and techniques.So let us start from the point that people matter.Through the years our Institute has been fortunate in having many members who have felt strongly...

Jan 1, 1970

Plant based on the New Jersey refluxing process was installed at the Cockle Creek Works of Sulphide Corporation Pty. Ltd. to refine portion of the zinc output from the Imperial Smelting furnace.Refining of impure zinc is effected by distillation in two stages in vertical columns comprising a series of superimposed silicon carbide trays designed such that ascending zinc vapours and descending liquid metal are in intimate contact. In the first stage, portion of the zinc and its cadmium content are distilled from impure feed metal, condensed, and while still molten, fed to the second column in which zinc is boiled under controlled refluxing conditions to remove the cadmium content.The resultant zinc has a purity in excess of 99·995 per cent zinc.The availability of refined zinc has made possible the production of a number of zinc alloys for marketing in addition to the basic grades of zinc.

Jan 1, 1970

By Arthur A. F, MacKenzie I. H

Copper in zinc/lead sinter charged to the Imperial Smelting Furnace operated by Sulphide Corporation Pty Limited at Cockle Creek, New South Wales, concentrates in a complex lead dross which forms as the bullion is cooled to around 400°C. The 0.35 mm portion of this dross, containing approximatelY 67 per cent of the total copper, is treated via a hydrometallurgical route to produce 5000 tonne/yr of CuSO4 5H2O crystal.Around 3000 tonne/yr of copper-lead dross containing 49 per cent copper is leached at 55°C in continuous leach reactors with ammoniacal ammonium carbonate leach liquors to convert copper to soluble copper amine complexes. Leach ettlciencies of 80-85 per cent are obtained. Leach residues are repulped with ammoniacal liquid diluents from the plant and heated in a four stage steam distillation unit to reduce ammonia levels to between 0.5 and 1.0 g/Iitre. The resultant slurry is directed to an effluent treatment plant for final treatment, and separation and return of solids to the sinter plant.Copper is extracted from leach liquor by solvent extraction techniques based on the use of L1X 54 diluted 3:1 with Shellsol 2046 to give a nominal copper loading of 30 g/litre. The loaded organic is contacted with a sulfuric acid solution of pH 5 to remove the bulk of ammonia and zinc, then stripped at 55°C with a 60 g/Iitre H2SO4 95 g/Iitre copper solution to yield a 15 g/Iitre H2SO4 125 g/Iitre copper solution.This liquor is fed to an adiabatic vacuum crvstalliser operating at 35°C and 5 kPa vacuum where crystals of CuSO4 5H2O are formed. Crystals are separated from mother liquor and washed in a two stage pusher centrifuge, then dried in a hot air rotary drier. The crystal product obtained is of a high chemical purity and readily conforms to both Australian and overseas standards.

Jan 1, 1983

Tyre costs constitute 20-40 per cent of the operating cost of large haulage trucks, and tyre pressure maintenance is an important factor in minimizing costs.In the past, control over the hot (built-up) pressures of earthmover tyres has been inaccurate and inconsistent because it has not been possible, in a practical way, to measure the tyre's contained air temperature.A method for measuring this contained air temperature has now been devised using a bi-metallic probe thermometer inserted through the valve stem. Using these measurements in conjunction with a pressuretemperaturechart drawn up using the general gas equation, very accurate control over hot tyre pressures is now possible.

Jan 1, 1979

By M Sebbag, T Taimre

Barrick Gold Corporation is proceeding with development of the Buzwagi Mine in the Lake Victoria Greenstone Belt District of Tanzania. The Buzwagi orebody occurs in the Nzega Shear zone within the Greenstone Belt and is hosted in a K-Feldspar rich granite in contact with mafic volcanic. The orebody presents 2.6 M ounces in 41 Mt of reserves, at 2.0 g/t. Over the ten year mine life, total material movement will be 261 Mt. The feasibility study was completed in 2006 and presented several technical challenges. Two principle challenges are grade control and the impact of dilution on the economic viability of the project. The principle challenges for grade control will be quality control and quality assurance in the sampling of the massive coarse grained granite, which comprises 70 per cent of the deposit. The principle challenge with dilution will be with the selective mining of the narrower mineralised zones contained within the mafic volcanics. This paper will focus on the mine planning methodology which has been applied including selective mine unit (SMU) and dilution estimation, net smelter revenue (NSR) calculation and the effects of cut-off grades to the project economics and mine schedule.

Jan 1, 2007