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To the members of The South African Institute of Mining and Metallurgy We have audited the annual financial statements set out on pages 239 to 245. These financial statements are the responsibility of the Institute?s Council. Our responsibility is to express an opinion on these financial statements based on our audit. Scope We have conducted our audit in accordance with statements of South African Auditing Standards. These standards require that we plan and perform the audit to obtain reasonable assurance that the financial statements are free of material misstatement. An audit includes: ?examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements ?assessing the accounting principles used and significant estimates made by management ?evaluating the overall financial statement presentation. We believe that our audit provides a reasonable basis for our opinion. Audit opinion In our opinion, the financial statements fairly present, in all material respects, the financial position of the Institute at 30 June, 2000, and the results of its operations and cash flows for the year then ended in accordance with South African Statements of Generally Accepted Accounting Practice.

Jan 1, 2000

To the members of The South African Institute of Mining and Metallurgy We have audited the annual financial statements of The South African Institute of Mining and Metallurgy set out on pages 483 to 496 for the year ended 30 June 2004. These financial statements are the responsibility of the Institute?s Council. Our responsibility is to express an opinion on these financial statements based on our audit. Scope We have conducted our audit in accordance with statements of South African Auditing Standards. Those standards require that we plan and perform the audit to obtain reasonable assurance that the financial statements are free of material misstatement. An audit includes: ?examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements, ?assessing the accounting principles used and significant estimates made by management, and ?evaluating the overall financial statement presentation. We believe that our audit provides a reasonable basis for our opinion. Audit opinion In our opinion, the financial statements fairly present, in all material respects, the financial position of the Institute at 30 June 2004 and the results of its operations and cash flows for the year then ended in accordance with South African Statements of Generally Accepted Accounting Practice. Auditors 30 July 2004 Council?s approval of the annual financial statements The annual financial statements for the year ended 30 June 2004 set out on pages 483 to 496 were approved by the Council on 30 July 2004 and are signed on its behalf by:

Jan 1, 2004

To the members of The South African Institute of Mining and Metallurgy We have audited the annual financial statements set out on pages 239 to 245. These financial statements are the responsibility of the Institute?s Council. Our responsibility is to report on these financial statements. We have conducted our audit in accordance with generally accepted auditing standards. These standards require that we plan and perform the audit to obtain reasonable assurance that, in all material respects, fair presentation is achieved in the financial statements. The audit included an evaluation of the appropriateness of the accounting policies, an examination, on a test basis, of evidence that supports the amounts and disclosures included in the financial statements, an assessment of the reasonableness of significant estimates, and a consideration of the appropriateness of the overall financial statement presentation. We consider that our auditing procedures were appropriate in the circumstances to enable us to express our opinion presented here. In our opinion these financial statements fairly present the financial position of the Institute at30th June, 1997, and the results of its operations for the year then ended in conformity with generally accepted accounting practice.

Jan 1, 1997

To the members of The South African Institute of Mining and Metallurgy We have audited the annual financial statements of The South African Institute of Mining and Metallurgy set out on pages 451 to 460 for the year ended 30 June 2002. These financial statements are the responsibility of the Institute?s Council. Our responsibility is to express an opinion on these financial statements based on our audit. Scope We have conducted our audit in accordance with statements of South African Auditing Standards. Those standards require that we plan and perform the audit to obtain reasonable assurance that the financial statements are free of material misstatement. An audit includes: ?examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements, ?assessing the accounting principles used and significant estimates made by management, and ?evaluating the overall financial statement presentation. We believe that our audit provides a reasonable basis for our opinion. Audit opinion In our opinion, the financial statements fairly present, in all material respects, the financial position of the Institute at 30 June 2003 and the results of its operations and cash flows for the year then ended in accordance with South African Statements of Generally Accepted Accounting Practice. Auditors 29 July 2003 Council?s approval of the annual financial statements The annual financial statements for the year ended 30 June 2003 set out on page 451 to 460 were approved by the Council on 26 July 2002 and are signed on its behalf by:

Jan 1, 2003

The Annual General Meeting of the South African Institute of Mining and Metallurgy was held in Kelvin House on Wednesday, 24th August, 1977. Dr M. D. G. Salamon (President) was in the chair and declared the meeting open at 16h00. Obituaries The President: It is my sad duty to announce the death of the following members of the Institute : C. G. Evans, J. P. Rees, Life Fellows ; S. R. Bryant, H. MacConachie, M. Mrost, and A. W. van Zyl, Fellows; L. T. Campbell-Pitt, F. W. Collins, A. J. Duncan, I. G. Evans, F. W. Kleinschmidt, P. L. Vaughan, R. W. Wallace, and H. Wason, Members. As a mark of respect to the memory of the deceased and in sympathy with the bereaved, I would ask you to rise and observe a few moments' silence. Minutes The President: May we confirm the minutes of the General Meeting held on 23rd March, 1977, as published in the June issue of the Journal? Agreed.

Jan 1, 1978

A LARGE attendance at the annual dinner of the Institute, to be held this year on Tuesday eve-ning of convention week, is already assured. Presentation of the Douglas, Hunt and Saunders medals will attract unusual attention since not only in Blaylock, Mathews and Hoover the Institute will be honoring men who have made notable contributions to the advance-ment of their profession, but as to one of them each person as he passes down the reception line will be won-dering whether in renewing acquaintance with our past-president and present Secretary of Commerce, he is not greeting the next president of the United States. Elsewhere in this issue accounts of the professional careers of these three men appear as also of the two younger men, Charles H. Herty, Jr., and P. H. Royster, who are to receive the Robert W. Hunt and the J. E. Johnson awards. Institute honors go for technical achievement, but the Institute will be proud and happy if the nation should later confirm its own judgment by placing larger responsibilities on one of its members. The medals are to be presented at the annual dinner following the President's reception and preceding the dance. There will be no. other speeches and since the occasion falls on Carnival Night a particularly gay evening is anticipated. The event will be at the Wal-dorf as usual, and members are urged to return prompt-ly the reservation cards sent them by mail. Other entertainment features will include a Smoker, Monday evening at 8.15, held at Mecca Temple and in charge of a new committee with Fred Kay of the Petro-leum Division as chairman. He promises that vocal music will not be allowed to interrupt conversation. Lunch will be served each day on the Fifth Floor of the Engineering Societies Building, and ten special luncheons and dinners have been arranged for particu-lar committees and groups as shown by the detailed program. The Woman's Auxiliary has laid out a gen-erous program including luncheons, teas, a theater party on the night the men folks go to the Smoker, visits to museums and, not the least important, a round of the leading shops. The Excursion Committee is arranging for an excur-sion sure to be of interest. The American Smelting and Refining Co. has opened its great Perth Amboy plant to the Institute, and on Thursday, Feb. 23, a party will be taken to it by bus traveling through the Holland Tunnel en route. Full opportunity will be afforded those interested to see the workings of the ventilation system of that great public work. If a sufficient number indicate interest, arrangements will be made for group excursions to other plants in the vicinity of the city.

Jan 2, 1928

By R. C. D. Phillis

The annual mine planning process is one of the most important tactical/operational steps towards achieving strategic goals. These tactical plans are part of a very comprehensive Mineral Resource Management process, with the natural sequel to planning being execution. The execution of an underground hard rock mine plan is a multi-project environment that comprises many development-construction-equipping-stoping single project paths, which are referred to as ?stoping paths?. The uncertainty that typifies execution of projects comes in the form of untimely disruptions to constituent tasks and/or project paths. Annual mining plans also include quantified objectives for occupational health and safety, production, quality, cost, employee morale, environment, and corporate social investment. Such objectives make for a highly complex environment that management must contend with?complex in the sense that all the paths and objectives have interdependent constraints. Furthermore, at the time of this paper, Sections54*and 55**of the MHSA*** put the onus on management to ensure legislative adherence. It stands to reason that planning estimates allow excess capacity?buffers?that cushions the impact of untimely disruptions. This paper concerns the fact that despite all the buffers allowed for, time, scope, and budget creeps impact on mine planning and threaten its successful execution. As a consequence, the paper deals with buffer management, the essence of Critical Chain Project Management (CCPM). Effective buffer management provided strategic (executive level) updates without losing the tactical/operational detail necessary for job card creation, especially where professional skills and experience are in short supply. Indicative bottom-line results showed CCPM to be highly effective.

Jan 1, 2011

Council for 2003/2004 President T.R. Stacey President-elect F. M. G. Egerton Vice-presidents Senior W. H. van Niekerk Junior R.P.H. Willis Immediate Past-president S.J. Ramokgopa Honorary Treasurer J.A. Cruise

Jan 1, 2004

Council for 2004/2005 President F.M.G. Egerton President-elect W.H. van Niekerk Vice-presidents Senior R.P.H. Willis Junior R.G.B. Pickering Immediate Past-president T.R. Stacey Honorary Treasurer J.A. Cruise

Jan 1, 2005

Council for 2005/2006 President W.H. van Niekerk President-elect R.P.H. Willis Vice-presidents Senior R.G.B. Pickering Junior A.M. Garbers-Craig Immediate Past-president F.M.G. Egerton Honorary Treasurer J.A. Cruise

Jan 1, 2006

Council for 1996/97 President Dr N.A. Barcza President Elect R.P. Mohring Vice Presidents Senior J.R. Dixon Junior M.H. Rogers Immediate Past President D.A.J. Ross-Watt Honorary Treasurer J.A. Cruise

Jan 1, 1997

Council for 1999/2000 President J.R. Dixon President Elect M.H. Rogers Vice Presidents Senior Dr L.A. Cramer Junior A.A.B. Douglas Immediate Past President R.P. Mohring Honorary Treasurer J.A. Cruise Members of Council B.C. Alberts Dr N.A. Barcza N.J. Barkhuysen R.D. Beck M.J.P. Bierman Prof. A.N. Brown D. Cockcroft Dr M.B. Cortie Dr L.A. Cramer J.A. Cruise E.G. de Villiers J.R. Dixon A.A.B. Douglas F.M.G. Egerton J.P.W. Fisher C.E. Fivaz K.J.R. Ford Prof. G.A. Fourie R. Graham Dr R.G. Gürtunca Dr R.V.R. Handfield-Jones* M.C. Harris J.P. Hoffman H.E. James P.J. Knottenbelt R.P. Mohring H.G. Mosenthal G.Y. Nisbet N.M. O'Brien R.G.B. Pickering Prof. R.P. Plewman S.J. Ramokgopa Prof. R.E. Robinson M.H. Rogers D.A.J. Ross-Watt Prof. R.F. Sandenbergh Dr H. Scott-Russell C.B. Sheppard D.A.A. Smith Dr T.R. Stacey Dr O.K.H. Steffen D.J. van Niekerk J.C. Viljoen J.N. Wallington

Jan 1, 1999

Council for 1999/2000 President M.H. Rogers President Elect Dr L.A. Cramer Vice Presidents Senior A.A.B. Douglas Immediate Past President J.R. Dixon Junior S.J. Ramokgopa Honorary Treasurer J.A. Cruise

Jan 1, 2000

Council for 1999/2000 President M.H. Rogers President Elect Dr L.A. Cramer Vice Presidents Senior A.A.B. Douglas Junior S.J. Ramokgopa Immediate Past President J.R. Dixon Honorary Treasurer J.A. Cruise [ ] Annual report In accordance with the current management policy, this report on the activities of the Institute is presented under eight main headings: 1. Interests of Individual Members 2. Technical Meetings 3. Publications 4. Regional Development 5. Engineering Science and Technology in South Africa 6. International Liaison 7. State Liaison 8. Management and Administration.

Jan 1, 2001

Council for 2001/2002 President A.A.B. Douglas President-elect S.J. Ramokgopa Vice-presidents Senior F.M.G. Egerton Junior Prof. T.R. Stacey Immediate Past-president Dr L.A. Cramer Honorary Treasurer J.A. Cruise

Jan 1, 2002

Council for 2002/2003 President S.J. Ramokgopa President-elect T.R. Stacey Vice-presidents Senior F.M.G. Egerton Junior W.H. van Niekerk Immediate Past-president A.A.B. Douglas Honorary Treasurer J.A. Cruise

Jan 1, 2003

[COUNCIL FOR 1991/92 President R.D. Beck President Elect JP. Hoffman Vice Presidents Senior Junior Dr H. Scott-Russell J.A. Cruise Immediate Past President Honorary Treasurer H.G. Mosenthal J.A. Cruise Members of Council Dr N.A. Barcza G.A. Brown B.R. Broekman Prof. RJ. Dippenaar B.R. Fleetwood* J.S. Freer P.R. Janisch P.J. Knottenbelt Dr J. Lurie R.P. Mohring *Co-opted K.C. Owen P.D.K. Robinson D.A.J. Ross-Watt P. Smith K.A. van Gessel DJ. van Niekerk P. van Schaardenburgh* CJ.C.J. van Vuuren* P.M.T. White]

Jan 1, 1992

By Hugh Steele, Brower Dellinger

U. S. mining trends for 1956 continued steadily U+ S. uphill, technique and equipment advanced with the pull, and exploration and development of once mined districts attracted more attention than new areas. Expansion of the Ambrosia Lake district in New Mexico more than doubled known uranium ore reserves, and production began from several of the large new ore discoveries. In Canada the up trend was more spectacular, especially in exploration and development. To combat increasing problems arising from high labor costs, taxes, low grade orebodies, and dwindling discoveries, manufacturers and mining companies have continued to introduce new techniques and new products-reamer bits for enlarging small holes drilled by jacklegs, whup d'whups for drift mucking, Cryderman machines and over-the-head small crawler-type machines for shaft mucking, the 20-ton TL 220 four-wheeled tractor trailer unit for underground haulage, inertia-type dust collectors, roof bolting in conjunction with chain link fencing for wall support, wooden roof bolting using compression support of ground for wall support, and new one-use carbide bits.

Jan 2, 1957

By E. D. Attanasi

Exploration for non-fuel minerals has declined since 1988 as recessionary pressures have slowed growth in the industrialized economies. By most accounts, however, 1990 expenditures were still significantly greater than the low levels experienced in the mid-1980s. The Persian Gulf crisis introduced instability in energy prices and greater uncertainty into an already cloudy economic picture. As 1990 unfolded, the US savings and loan problems spread to the commercial banking system, leading to the failure of several major US commercial banks. The Japanese stock market also suffered significant losses as Japan's Central Bank raised interest rates. The Soviet Union experienced shortages of food and other basic items. Its government faces resistance to changes leading to a market economy. Individual Soviet republics also are seeking more control of their own destiny. The cost of German reunification, in terms of the capital required to bring the east's infrastructure and industrial base to western standards, also appears to have been underestimated.

Jan 1, 1991

Worldwide minerals exploration slipped in 1992 from 1991 levels. Although industrial production figures showed the US economy emerging from recession in early 1992, it was not until February 1993 that the lagging indicator of unemployment dropped to 7%. Most other industrialized countries are still in recession. Preliminary data for 1992 showed industrial production dropping in Japan (5%), Germany (1.4%), the United Kingdom (0.5%) and France (1.4%). The slowdown in industrial production led to reduced mineral demand. This resulted in lean cash flows from mining operations, which squeezed exploration funding. Although mineral prices were steady during most of 1992, some mineral commodity prices began falling in late 1992 and early this year. Exploration 1991-1992 According to Metals Economics Group (MEG), planned 1992 exploration expenditures were down by about 5%. Geographically, the leading exploration target was the United States with 21 % of the expenditures, followed by Australia (19%), Canada (18%), Latin America (15%), South Africa (9%) and the western Pacific (7.5%). The remaining 10% was split between Europe and Africa. There were absolute increases in exploration expenditures in the United States and Latin America. Latin America showed the largest increase. The change in the Mexican mining law allowing foreign ownership of mines should result in the inflow of direct foreign investment in Mexico's mining industry.

Jan 1, 1993