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By C. H. Wyndham, N. B. Strydom

Discussion C. G. Hinds (Member): The climatic chamber at Kloof Gold Mine was built to the design referred to in the paper presented by Professor Wyndham and Dr Strydom. As no suitable underground facilities existed for the acclimatization of labourers at the rate required, mining operations would have been severely restricted had there not been a climatic room timeously built on surface. The climatic room can accommodate 120 labourers per 4-!-hour shift. The standards laid down by the Human Sciences Laboratory were and still are being adhered to as strictly as possible. Through a shortage of European personnel the recommended degree of white supervision could not be adhered to and the use of Bantu assistants with a minimum education of Standard 8 was introduced. This is considered to have met with sufficient success to warrant acceptance as policy. The climatic room was brought into operation on the 1st September, 1967, i.e. two months after stoping at Kloof was commenced. The figures quoted herein therefore pertain to the period between that date and the 31st March, 1969, when the main shaft and the main surface fans were commissioned. The areas worked were sited between 5016 ft and 6 365 ft below surface. Virgin rock temperatures ranged between 92°F and 99°F. Stopes are cleaned by hand lashing. During the 20 months of stoping prior to the commissioning of the main shaft, mining operations at Kloof were effected through the Harvie Watt shaft of the Libanon Gold Mining Company Limited. In this period 10 452 Bantu labourers were acclimatized in the following categories: Experienced workers 7 326 New to the industry 2 086 Re-acclimatized 1 040 It will be noted that during the period, labourers 'new to the industry' averaged 22 per cent of the intake. This percentage fluctuated from time to time and reached 42 per cent. (The present percentage is 60.) The greatest number acclimatized during anyone month occurred in February, 1969 when 1234 Bantu were treated. The greatest number of Bantu acclimatized during any 8-day period was 411. As many as four X 41/2 hour shifts were run in 24 hours. The number of men found to be heat intolerant over the period of 20 months was 33 out of a total 9 412 Bantu. The following tabulation illustrates the history of the build-up of manpower and the climatic conditions under which they worked: The average dip of the reef is 35°. The number of heat stroke and heat exhaustion cases during the period of 20 months under most difficult ventilation conditions was Nil.

Jan 10, 1969

By L. W. Saperstein

Public Law (PL) 95-87 contains explicit demands for land use planning in its reclamation and designation sections. Both sections require recognition of local land use plans; however, they are not well integrated. Accommodation to these planning requirements affords an opportunity to create better links among local land use planners, the state's permitting authority and designation office, and mine designers. Mining companies should take a more positive interest in local land use plans and in resource inventories. States should coder handing down to local government the responsibility for accepting mine permit applications and designation of unsuitability petitions.

Jan 1, 1984

By Lee W. Saperstein

P.L. 95-87 contains explicit demands for land-use planning in its reclamation and designation sections. Both sections require recognition of local land-use plans; however, the sections are not well integrated. Accommodations to these planning requirements may be found in suggestions based on British mineral planning practice. Better links can be created among local land-use planners, the state's permitting authority and designation office, and mine designers. Mining companies should take more interest in local land-use plans and in resource inventories; states should consider devolving to local government responsibility for accepting mine permit applications and designation of unsuitability petitions.

Jan 1, 1982

By Morton Macartney

FOR many years the developers or owners of worthy mining ventures in need of financing have found it almost impossible to obtain such financing under the conditions existing in most other lines of business. High rates of interest and unfair participation in profits have robbed the developers of much of their holdings, and have resulted in over-capitalization and many other like evils. When the general financial condition of the country is bad, this difficulty increases to a point where many operations must cease and hen are thrown out of employment. In 1.934 this situation had developed to such a point that Congress attempted to aid the mining industry. It first authorized the RFC to make loans to recognized and established corporations, individuals, and partnerships engaged in the business of mining, milling, or smelting of ores in June, 1934, limiting such authority to loans adequately secured, the security to consist of mineral acreage. The requirements of the law were stringent and of the 252 requests for loans received up to June 1, 1935, 35 were authorized.

Jan 1, 1936

By AIME AIME

THE convention which met in Washington at the call of the Joint Conference Committee was called to order at ten o'clock on Thursday morning; June 3, by Richard L. Humphrey, temporary chairman, member of the American Society of Civil Engineers, who made a brief statement of the reason for the meeting. Lieut. Col. Charles W. Kutz, Corps of Engineers, U. S. A., and Engineer Commissioner of the District of Columbia, then welcomed .the engineers composing the convention on behalf of the District of Columbia and, the Washington engineers. Although an elaborate program had been prepared on which were many well-known speakers on interesting and important topics, , it was voted to intersperse this to fill in the usual and unavoidable hiatuses in the business program of such a convention[ Calvert Townley, president of the American Institute of Electrical Engineers, was elected permanent chairman, and J. C. Hoyt, of Washington, was elected secretary of the convention. The following committees were appointed: Consti¬tution and by-laws, Richard L. Humphrey, chairman; resolutions, Philip N. Moore, chairman; and program, F. H. Newell, chairman. Then, Gardner S. Williams, member of the, A. S. C. E. and the Grand Rapids Engineering Society of. Grand Rapids, Mich., and one-time member of the American Association of Engineers, offered the following resolutions:

Jan 1, 1920

As this paper is being written primarily for perusal by milling workers, metallurgists and engineers, an attempt will be made to avoid the use of accounting technicalities. Its scope will be confined to a description of the methods employed in the collection of basic information for use in timekeeping, costing, and the compilation of statistics.TIMEKEEPINGEvery applicant for work is asked to furnish the following information, which is collected on a card (size 6 in. x 4 in.)...

Jan 1, 1922

By Mario E. Rossi

The full economic evaluation of a mining project requires a block model that provides an estimate of the tons and grades of available resources. The model must be representative of the mineralization to be found at the time of mining for specified extraction periods and within acceptable error margins. In an operating mine, there may be a reasonable understanding and estimates of actual dilution and ore loss. This paper discusses the issue from the perspective of a project at a feasibility or preproduction level of development. Three types of dilution are discussed. Internal dilution (or change of support) is function of the spatial distribution of the mineralization and its relation to the operation?s selectivity. Geologic contact dilution is the unavoidable mixture at contacts or boundaries of material with different geologic characteristics, grades, or metallurgical performance. Operational planned and unplanned dilution should also be considered, sometimes incorporated by factoring the resource model, but more accurately by mimicking the grade control process. The resource estimation process always carries uncertainty, which is sometimes significant, and usually caused by several factors. These include quantity and quality of drill hole information; quantity and quality of geologic data; grade estimation methodology; dilution and mining recovery factors applied; etc. A key decision is to whether estimate as accurately as possible the in-situ geologic resource or to estimate the tons and grade of the material to be fed to the processing plant. The geologic modeling and grade estimation methods used are conditioned by this decision.

May 1, 2009

By Canada Ernst & Whinney

INTRODUCTION The principal objective of this chapter is to provide guidance in understanding and making effective use of published financial statements of mining companies. Although financial statements only represent a gathering together of information relevant to an enterprise's financial position and results of operations, they increasingly reflect the complexities of the modern day business environment. In the mining industry, a wide variety of accounting practices have evolved to deal with the unique aspects of the business in the absence of authoritative accounting pronouncements from standard-setting bodies. Given such complexities and divergent practices, financial statements of mining companies are not easily understood and cannot be used effectively as a tool in decision-making without a basic knowledge of fundamental accounting concepts, generally accepted accounting principles and their application in the mining industry. As such, this chapter is not restricted to a discussion of the accounting for the unique aspects of the mining industry. These aspects are dealt with at length but the text also includes a discussion of general accounting concepts and practices which have wide application in the mining industry. Frequent references are made in the text to international practices and to specific rules and requirements of individual countries. In this respect, the scope is restricted to four major mining environments, Canada, the UK, the US and Australia, all of which have made significant contributions to the development of generally accepted accounting principles. Acknowledgements This chapter was prepared under the direction of Ian Murray of Ernst & Whinney in Toronto, Canada. Contributions were received from Graham Butt, Mark O'Sullivan and Dominic Robinson, all from Ernst & Whinney in Toronto and Bill Duvall and Tom Schoenbaechler from Ernst & Whinney in Louisville, Kentucky, US. The authors would also like to acknowledge the assistance received from David Ferguson, Don MacLean, David Taylor and Susan Zoutman from Ernst & Whinney, Toronto, from the UK and Australian practices of Ernst & Whinney and from Ernst & Whinney International. FINANCIAL STATEMENTS - ELEMENTS AND CONCEPTS Financial statements were originally a stewardship report to owners to satisfy them that management had given a proper account of the resources with which it had been entrusted. Today, the number of users of financial statements has expanded to include the following groups: - shareholders, present and prospective; - lenders, present and prospective; - financial analysts; - regulatory authorities; - taxing authorities; - labour unions and employees; and - creditors and customers. The expectations of these user groups differ. For example, investors and lenders require information that will indicate the adequacy of their security and the profitability of the enterprise; taxing authorities will be concerned with the concept of income; labour unions and employees will focus on the profitability of the enterprise. Ground Rules for Preparing Financial Statements Responsibility for Financial Statements Financial statements are the representations of management. This may strike the reader as a rather obvious statement. It is important to remember, however, the role of judgment in accounting. Notwithstanding the promulgation of accounting standards in the developed countries, considerable flexibility remains in the selection of accounting practices and methods and in their presentation. Arguably, there is more flexibility in the mining industry as few countries have developed standards to deal with its unique aspects. Accordingly, financial statements are as much a product of management's perspective and philosophy as they are a compliance document.

Jan 1, 1985

By Dr. O’Neil Thomas J., Donald W. Gentry

"October. This is one of the peculiarly dangerous months to speculate in stocks. The others are July, January, September, April, November, May, March, June, December, August and February." -Mark Twain Although the preceding chapters describe the type of preliminary evaluation frequently performed in the mining industry, it has been assumed that input data are known with certainty-clearly an enormous simplification. In reality, estimates of ore grade, mining cost, metal price, etc., are subject to varying degrees of uncertainty due to the inability to predict the future with much precision. Management would probably not, for example, be equally attracted to two projects each offering a 20% DCFROI-one for a new gold venture in Nevada and the other for an undersea manganese nodule operation in the Pacific. The high risk with the latter investment tells the obvious; there is more to investment decision-making than a deterministic analysis using "best estimates" of input parameters. The science of decision theory normally distinguishes between decisions under uncertainty, where probabilities of various outcomes are unknown; and decisions under risk, where such probabilities can be estimated. The first case is rarely en- countered in practical capital investment analysis in mining, so the remainder of this chapter focuses on that class of problems where rational probability distributions for the future states of input variables can be estimated. RISK IN MINING Risk in the context of this chapter is the unforeseen deviation of individual cash flows from expected values for a capital project. For a mining venture, the source of this uncertainty could be any number of factors relating to such items as ore grade, ore reserve tonnage, operating costs, product prices, etc. With conventional *Adapted from O'Neil, T.J., 1979, "Procedures for the Preliminary Financial Evaluation of Metal Mining Ventures," Computer Methods for the 80s, A. Weiss, ed., AIME, New York, pp. 556-573.

Jan 1, 1984

By Peter A. Eshun

This paper studies two methods that account for risks associated with gold mining projects such as mineral risks and country risks. The first method is sensitivity analysis, which investigates the effects of a change in any economic parameter such as operating cost, capital investment, gold price or taxes on the viability of the project. The second method is Monte Carlo Simulation technique, which takes into consideration the simultaneous random variation of the economic parameters on the project's viability. An automated simulation cash flow model has been developed as part of this paper. Sensitivity analysis and the simulation model have been used to investigate the economic viability of the Dokrupe Gold Project (DGP) serving as a test case. It is concluded that, the Monte Carlo Simulation technique gives a more realistic judgement of the economic viability of gold mining projects.

May 1, 2004

By R Valenta, J Owen, D Kemp, E Lebre, G Corder

Copper plays an essential role in our society. It is one of the key materials supporting economic growth and human development in emerging economies, for its common use in construction, power generation and transmission. It is also a critical metal for the transition to a low carbon future, particularly for its uses in renewable energy and electric vehicles. As a result, global demand for copper has been increasing steadily and is predicted to continue in the future. The demand-supply gap is currently growing, and new mines will be needed to fill it. This project observes the current pipeline of copper mining projects, which are characterised by technical complexity (lower grades, deeper deposits, complex mineralogy etc.) but also environmental, social and governance (ESG) complexities. A common assumption in the mining industry is that a rise in copper prices will unlock these deposits. However, while most technical complexities are price sensitive and are likely to be overcome in favourable economic conditions, the influence of ESG complexities is more difficult to evaluate. CITATION: Lebre, E, Valenta, R, Kemp, D, Owen, J and Corder, G, 2018. Accounting for social and environmental complexities in mining project developments: the case of copper, in Proceedings Complex Orebodies Conference 2018, pp 39–40 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Nov 21, 2018

By G R. Hancock, S Grant, T Whiteside, J B. C Lowry, J Boyden, T J. Coulthard

Physically-based landform evolution models (LEM) provide a spatial framework to forecast the long-term geomorphic stability of post-mining landscapes. When used to test the relative stability of different landform designs, LEMs may assist with the development of optimal closure designs for rehabilitated mines. However, in order to reduce prediction error, factors controlling landscape evolution must also be accurately represented by models. This requires that the correct sets of processes are represented and that driving parameters used in LEMs are, if necessary, calibrated to the landscape of interest.Vegetation exerts strong controls on the hydrologic and geomorphic processes that drive landscape evolution. Hence, the spatial and temporal scales over which typical patterns in vegetation are represented in different landscapes are important considerations in LEM calibration. However, vegetation is rarely accounted for in LEMs and even when integrated is often represented simply, without representing spatial dynamics of vegetation cover that may impact landform development.This study focuses on characterising vegetation patterns to calibrate a new vegetation module of the The Cellular Automaton Evolutionary Slope and River (CAESAR)-Lisflood LEM to be applied to a conceptual rehabilitated landform of the Ranger uranium mine located in the Alligator Rivers Region (ARR) of northern Australia. In the ARR the spatial dynamics of vegetation over time are largely driven by monsoonal rains and topography. Extensive dry season fires are also common in the region, temporarily reducing vegetation cover where they occur. Hence, hydrology, topography and fire disturbance interact to shape a distinct, yet dynamic, mosaic of different vegetation types of varying cover density. As a basis for calibrating the new vegetation function, the distribution and dynamics of vegetation are characterised for this savannah landscape by remote sensing, in conjunction with ground data.CITATION:Boyden, J, Lowry, J, Coulthard, T, Whiteside, T, Hancock, G and Grant, S, 2016. Accounting for vegetation dynamics in landform evolution modelling, in Proceedings Life-of-Mine 2016 Conference , pp 63–66 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Jun 28, 2016

By G. F. Doggett

In describing accounting methods at Lake Shore Mines, it is the intention of the writer to limit the discussion to the principal features of the system used in securing cost figures and other statistics. The subject can be conveniently treated under the following divisions: (1) Time-keeping and Labour Distribution (2) Supplies: Handling and Distribution (3) Method of Assembling Data for Cost Purposes (4) Details of Operating Costs Time-Keeping and Labour Distribution After a new employee has gone through the routine of being 'hired on', he is assigned an employment number corresponding with the group applying to his occupation. This is for identification purposes in the plant and time office. He is also given an individual serial number, the use of which will be refer-red to later. On entering and leaving the plant, each employee passes through the clock room adjoining the time office, where he registers the time in and out on time recorders, on the clock card (Figure 1) bearing his name and number. It is the duty each morning of the time clerk to extend the hours worked by each employee, as indicated by the clock for the previous day, and at the end of the half-month period the total hours are multiplied by the rate and entered in the space provided for total wages at the bottom of the card.

Jan 1, 1935

By Joseph Domenico

AMONG others, one of the most important duties of the accounting department is to disclose to the management the cost of production accurately and as quickly as possible after the ore has been produced and treated. A report is issued daily showing man shifts and the cost of labor, supplies, power, and miscellaneous charges to each department of the operation: mining, crushing, milling, packing and loading, and general expense. Mining costs are broken down into stoping, handling, development, exploration, and miscellaneous, and each of these subdepartmental costs are further broken down into the branches making up the subdepartment. Costs of crushing, milling, packing and loading, and general expense are detailed in the same manner. With such a detailed daily report as this, the management is able to keep in close touch with the efficiency of the entire operation. Because no expense items are deferred or spread over a period, and so that the report does not lose its comparative valve, appearances of unusual charges are explained.

Jan 1, 1946

By D. T. Pritchard

"Introduction""No accounting system is very good, and all of them are infinitely variable*.”The purpose of this chapter is to discuss those facets of a typical accounting system which are most commonly encountered by operating managers in mineral processing plants. However, before concentrating in any detail on these it is important to understand the broad purposes and basic techniques of any accounting system in any major business.The three broad purposes of an Accounting System are:- Administering, controlling, and recording the flow of cash in and out of the business. Cash is, of course, converted into other assets (or stores of value) such as inventory, plant and equipment, etc. These assets also have to be administered, controlled and recorded.- Internal reporting to Management for information, for control, and for use in making business plans and decisions. - External reporting to stockholders, government, lenders and other outside parties.In this chapter we shall organize our discussion of accounting practice in mineral processing plants around these three purposes of accounting and focus in some detail on specific practices and techniques with which operating personnel will be routinely involved. This chapter is divided into the following: Accounting Basics; Administration, Control and Recording of Cash Flows; Internal Reporting; Planning and Budgeting; Cost Control; and External Reporting."

Jan 1, 1989

Balance Sheet at 30 June 1988 ACCUMULATED FUNDS Balance at 30 June 1987. Excess of income over expenditure for the year ended 30 June 1988

Jan 1, 1988

Balance Sheet at 30 June 1989 ACCUMULATED FUNDS Balance at 30 June 1988. Excess of income over expenditure for the year ended 30 June 1989

Jan 1, 1989

ACCUMULATED FUNDS Balance at 30 June 1990 (Loss) income over expenditure for the year (63 154)

Jan 1, 1991

Balance Sheet at 30 June 1990 ACCUMULATED FUNDS Balance at 30 June I989 . Excess of income over expenditure for the year ended 30 June 1990

Jan 1, 1990

David Pollard will raise this matter in more aetail in a later paper, but mere are some obvious points that I wish to make. It is a relatively straightforward exercise to assess the competency at a low level in the workplace where the consequences of a worker's actions can be observed immediately. Assessing competency at higher levels which may involve creative, planning, design or supervisory functions is more difficult, especially where managerial responsibility and accountability for the output of others is involved. This is generally the case with the daily activities of most mining professionals, whether they be in operations, in a consulting capacity, in research, or in government.

Jan 1, 1994