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This paper provides a financial perspective to the valuation of Australian resource companies and projects. Valuation exercises need, however, to be seen in the broader context of a thorough business appraisal, one that incorporates all disciplines employed in the resources industry. Fine tuning a discount rate or determining a particular capital structure is likely to be less important to valuation than an adequate understanding of industry dynamics and a company's likely performance in future years.

Jan 1, 1989

Subsidence issues associated with historic mine workings have highlighted the need for enhanced geotechnical management of the Martha pit over the remaining life. In conjunction with a detailed analysis of pit slope issues a comprehensive geotechnical management plan has been developed at Martha and is being used as the basis for development of similar plans in other Newmont operations.   This paper covers the geotechnical issues facing the Martha operation and the development and application of the management plan.

Jan 1, 2004

AustraliaÆs current interest in renewable energy is based on a desire to reduce the countryÆs greenhouse gas emissions. Wood from sustainable sources offers a unique opportunity to combine greenhouse gas benefits with other significant environmental and social benefits, including salinity mitigation, carbon sequestration, soil replenishment and rural industry. The challenge is to make renewable energy from wood in a cost competitive manner, so that this broad range of benefits may be best realised. Bioenergy and carbon products are of great interest as new, commercial forestry products that can drive large-scale environmental tree planting:In Western Australia, Enecon has worked with Western Power Corporation to build the first full-scale plant for integrated processing of mallee eucalypts, to produce activated carbon, renewable power and eucalyptus oil. It is intended that this plant is the first of a number of such plants to help catalyse environmental tree planting in Western Australia. New technologies being developed overseas may provide competitive bioenergy in areas where traditional markets for wood do not exist. For example, pyrolysis converts wood into a bio-oil that may be transported to remote sites for power generation in gas turbines. Pyrolysis also produces wood char. Pyrolysis and wood-to-ethanol technologies, coupled with short rotation coppicing trees, offer the long-term prospect of large-scale production of renewable fuels around the country.

Jan 1, 2006

By Palmer C. G, Rowe P. G

Ore handling improvements at Mount Isa Mines Limited were necessary to keep abreast of technological advances in all phases of sublevel stoping practice.In the early 1930s an efficient ore handling system was in operation.However in 1936 excessive water encountered in deepening the hoisting shaft necessitated the sinking of a second hoisting shaft. Financial difficulties prevented abandoning the original shaft and surface ore handling and crushing facilities, so ore was transferred underground and underground crushing deferred. It was not until 1951 Jhat multilevel crushing permitted increased efficiency in the handling of ore from stopes. Ore was then hoisted in one shaft and transferred on the surface by conveyor belt to a new crushing plant.In 1956 a planned production increase from 5,000 to 11,000 tons per mining day made possible further improvements in ore handling. Larger equipment was installed and existing equipment modified to capacitate the handling of larger sized ore at increased daily tonnages.INTRODUCTIONThe intensive exploratory programme commenced in 1954 disclosed large reserves of both lead and copper ores and in 1956 an expansion programme was initiated to increase production from 5,000 to 11,000 tons per mining day. The increased tonnage would result in decreased costs per ton and further cost reductions would result from increased mechanisation underground. The combined effect would permit larger tonnages of lower grade ores to be included in ore reserves. To achieve both cost reduction and the scheduled production increase, improvement in ore handling was of vital importance.For efficient and low cost sublevel stoping it is necessary to maintain an economic balance between...

Jan 1, 1961

By X Sun, L B. Zhou, H Yi, X Tang, P Ning

The rapid industrialisation in China has consumed large amounts of various industrial raw materials, which has left behind large quantities of industrial solid wastes produced from the processes of mining, mineral processing and smelting. The storage of huge quantities of industrial solid wastes is an obvious risk to the environment and human well-being. As the first step to fully appreciate the scale of this risk, it is necessary to carry out research for developing a pollution source environmental risk assessment system (PSERAS), especially for the typical staple industrial solid waste (TSISW). This paper aims to discuss the frame of the PSERAS for TSISW for large scale production. This system consists of two aspects: predicted factors and accidental ones, which involve physical, chemical and biological risk assessments, on-site and during transportation process. Two analysis methods, the analytic hierarchy process (AHP) and fuzzy logic assessment (FLA) were used to handle the complexity of environment and non-quantitative data. The risk assessment system for such a complex objective is difficult and the assessment of relative factors is problematic through the usual quantitative analysis. With the proposed PSERAS, it is possible to define the risk class of pollution sources. Furthermore, the risk assessment results will be helpful to the decision-maker, especially when facing unknown risks in the environmental management of industrial solid wastes. In addition, by means of the PSERAS, risk factors can be ranked against their contributions to environmental risk, in order to calculate their relative priorities in decision-making.CITATION:Sun, X, Ning, P, Tang, X, Yi, H and Zhou, L B, 2012. Environmental risk assessment system for typical staple industrial solid wastes, in Proceedings Life-of-Mine 2012 , pp 301-304 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Jul 10, 2012

Northern Iron Ltd (NIL) is an Australian listed company that recently brought the historic Sydvaranger open pit Magnetite Mine (the Project) in Northern Norway successfully back into production. NIL made the decision to operate the Project on an owner mining basis, due to limited large scale mining expertise amongst Norwegian mining contractors, a long mine life, a limited range in planned mining rate and to minimise costs. As a new mine operator in a country where labour practices are strictly regulated, there was the desire to reduce the risk associated employing and managing skilled personnel. This was achieved by coupling the purchase of the required mining equipment from the original equipment manufacturer's (OEM) regional dealers with OEM supported Maintenance and Repair Contracts (MARC). This paper examines the process that was followed to implement an owner mining operation in a short time frame; approximately 12 months from the initial requests for quotation to actual delivery of mining equipment to site, and some of the challenges faced. By following a formal and well-tested process, not only was the implementation achieved in the set time frame, but significant value was added through the cost savings achieved in the equipment purchase price and MARC rates that were negotiated through this process.

May 1, 2010

For a large scale open pit mining and concentrating operation, on a low-grade disseminated ore body, it is possible to set an approximate lower bound on economically feasible operating scales and an approximate upper bound on economically desirable scales in a relatively straight forward manner. The optimum scale ofplanned operations, with respect to the objective ofmaximisation ofthe net value ofthe orebody, will have to be arrived at by iterative planning runs, but it may be expected to lie close to this upper bound. The effects of infrastructural costs and of the addition of a risk premium to the cost of capital, to form the discount rate for planning purposes, are considered theoretically and by worked example. It is concluded that a perceived special, unsystematic, risk should not be accounted for by the use of such a risk premium as this is inducive to placing a greater amount of investment capital at risk, for no greater return-rate to investment.

Jan 1, 1986

By J Johansson, J Lööw

Attractive mining workplaces are good, safe and healthy environments. They are also workplaces that the workforce of the future wants to work in. As skilled miners and engineers are already scarce, this is important both for today and for the future. However, the future of mining will also be subject to increased international competition. In attempting to become more competitive, many mining companies turn to rationalisation, looking to both rationalise their production and organisation as well as optimise their processes. Work organisation is important in both rationalisation and providing attractive mining work. As a result, this paper investigates a ‘lean production’ (LP) philosophy for the organisation of future mines. The aim of the paper is to investigate to what extent LP can be used to organise for attractive mining. It first defines what attractive mining work is and to what degree it can be influenced by work organisation. A short insight into the LP concept will be given as well as a review of how it is discussed and utilised in mining today. In conclusion, a summary of LP’s potential to realise future attractive mining is given.CITATION:Lööw, J and Johansson, J, 2015. Work organisation for attractive mining – lean mining and the working environment, in Proceedings Third International Future Mining Conference, pp 197–204 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Nov 4, 2015

An Evaluation of Froth Recovery Measurement Techniques

Sep 13, 2010

Within the Business Process Improvement Program initiated at Placer Dome during 2003 was the Business Performance Management Project (BPM).BPMÆ s aim has been to extract productivity improvements from individual business units by providing a model for implementing leading practice based management process within the Placer Dome Group, sharing management best practice, injecting new management techniques and instilling a continuous improvement culture. The installation of an underground dispatch system has been a key component of the BPM project at Osborne Mine.Information capture and analysis allows for corrective action to be planned and executed before there is a material impact on the performance of a business unit. This paper briefly describes the principles and practices of effective business performance management, the four processes of a management operating system namely; strategic and tactical planning, implementation and reporting. The identification of business drivers, their measures and associated key performance indicators is discussed. The benefits of an underground dispatch system at Osborne with respect to safety, production and maintenance is described along with the installation process within the mining department that included its configuration, resourcing and roll out.

Jan 1, 2005

By B B. Beamish, M S. Kizil

The processes that take place during the development of a heating are difficult to visualise. Bulk coal self-heating tests at The University of Queensland (UQ) using a two-metre column are providing graphic evidence of the stages that occur during a heating. Data obtained from these tests, both temperature and corresponding off-gas evolution can be transformed into what is effectively a video-replay of the heating event. This is achieved by loading both sets of data into a newly developed animation package called Hotspot. The resulting animation is ideal for spontaneous combustion training purposes as the viewer can readily identify the different hot spot stages and corresponding off-gas signatures. Colour coding of the coal temperature, as the hot spot forms, highlights its location in the coal pile and shows its ability to migrate upwind. An added benefit of the package is that once a mine has been tested in the UQ two-metre column, there is a permanent record of that particular coals performance for mine personnel to view.

Jan 1, 2005

By H Rouhullahi, E B. Veshki an, R Kottnauer

The Galandrud coalfield is located approximately 20 km south from the coast of the Caspian Sea, Ruyan town, on the north slopes of the Alborz mountain range, in the elevation between 500 m (the Galand River valley) and 1350 m. For the time being, 32 coal seams (generally of small thickness û 0.8 m on average) have been recognised within the. On the other hand 72 coal banks of balanced properties have been included in reserve calculation, which means that some of the seams consist of several banks. The general dip of strata belonging to the south limb is about 30¦ to the South (with drags close to the south overthrust, where the dip reaches 85¦), while the dip of beds at the north limb is rather steep and usually between 45 to 75¦ to the North. The coal quality is in a rank of high volatile bituminous coal. The steep dip, unstable lithological development, complicated tectonics and comparatively lower coal seam thickness are the characteristic features of the Galandrud deposit. Environmental protection of this area makes exploration and exploitation more complicated. During mine exploration several adits were driven at three levels with 50 m vertical distances. About 4000 m of gates and crosscuts were up to now driven. During mining test the down-cut mining method (with one cut), the strike cut mining method and the down-cut mining method with two cuts were tested. The paper describes outlines for the selection of mining methods on the base of classification of the effective hangingwalls and footwalls, hazards of mining operations, and possibilities of the mechanised mining.

Jan 1, 2003

At Yucca Mountain, USA, a tunnel is being built according to nuclear quality standards. It has proved possible to meet very high quality demands while at the same time achieving high advance rates. To be able to do this, routines on how to record and store quality related information have been established. This has meant that a new philosophy has entered the tunnelling industry. Especially for nuclear waste projects, of which Yucca Mountain is one of the first ones to be built, the experiences made and the quality assurance program established will be of great importance for future projects. The paper gives examples of what the Nuclear Quality Assurance system has meant in practice for the tunnelling at Yucca Mountain. And, it also explains why a non-grouted bolt, Super Swellex-, was chosen for long-term reinforcement in the tunnels which might host nuclear waste for thousands of years.

Jan 1, 1999

By D Hope, D Mitchell, B Metcalfe

In recent years there has been a major change among mining companies in their mining methods. This has been driven by the need to increase shareholder value and optimising the value from an operation. With this understanding there has been a need for all producers to become more efficient in their mining processes. An analysis of the coal losses at Mount Thorley Operations indicated that the major losses were in the dragline section of the mine due to coal damage from throw blasting. This damage was evident after the removal of the overburden by the dragline.Coal and Allied Mount Thorley Mine in partnership with Orica Explosives developed a process to reduce the coal loss associated with the throw blasting of Mt Thorley. Orica provided its specialised knowledge and experience in the drilling and blasting area and combined this with the local mining knowledge and expertise of Mount Thorley Operations personnel to conduct the project. This partnership reduced coal loss in excess of 50 per cent whilst maintaining targeted dragline productivity.

Jan 1, 2001

The paper reviews recent valuations of mineral properties, many of which are at an early stage of exploration. The various methods used are outlined. The problem of comparing, in terms of whether it is fair and reasonable, a highly subjective opinion of the present value of a portfolio of exploration tenements with a vendor consideration, the real value of which, in most cases, lies at some indeterminate time in the future because of the application by the Australian Stock Exchange (ASX) of escrow conditions, is highlighted. Examples are given of some of the questionable logic used by consultants in handling this difficult issue. A proposal for revision to current flotation and listing practice which, the author believes, would circumvent the problem and at the same time provide better protection for the investing public is offered for Consideration.

Jan 1, 1994

By T Davis

The 500 orebody in the upper levels of Mt Isa Mines in north-west Queensland was mined by sublevel caving and block caving from 1962 to 1969. The hot and reactive rock mass of this orebody provided significant mining challenges including ground temperatures above those resulting from the geothermal gradient. Recently Xstrata Copper has been studying the potential to mine this orebody by modern caving techniques. Part of the study process has included re-accessing the ore zones for diamond drilling and trial development. A cross-cut trial drive, the first primary development into the orebody in more than 30 years, encountered a temperature increase in development holes from low sixties to almost 80¦C in less than 10 m advance. The issues associated with managing this risk include sourcing suitable quantities of reactive ground explosives for a single small heading and the temperature limitations of the explosives and detonators. Risk management outcomes included controls to mitigate the safety and reliability risks relating to misfires. The control that dealt directly with the challenge of continuing development in elevated temperature ground was to cool the holes before and during charging. The most effective and practical cooling medium proved to be water. Rapid rock temperature recharge time meant cooling had to continue as close to firing as possible. Reticulation systems were constructed to allow cooling to take place up until withdrawal for firing. No misfires occurred with the cooling system and additional controls in place. This proved that developing safely and effectively in the elevated ground temperatures of the 500 orebody is practicable.

Jan 1, 2008

The first stage in the refining of lead blast furnace bullion is the removal of copper and is normally done as a batch process in open kettles.A number of attempts have been made to establish continuous processes operating in reverberatory type furnaces, but the growth of accretions in the furnace has always presented a serious problem.The Broken Hill Associated Smelters Pty. Ltd. (RH.A.S.) at Port Pirie have overcome this problem by constructing a reverberatory furnace and ancillary cooling system of a novel design.Although a number of mechanical and metallurgical problems still remain to be solved, it is claimed that a workable continuous copper drossing process has been established.INTRODUCTIONLead bullion emerging from the blast furnaces at Port Pirie is at a temperature of about 1100°C and contains, among other impurities, about 1 per cent of copper.The first stage of refining is the removal of this copper by a drossing operation and in the past this was done, batchwise, by allowing the bullion to cool back in 100 ton kettles.At about 700°C, copper dross begins to separate as a crust on the surface of the kettle and this separation was allowed to continue down to about 450°C when the crust was brokenup and skimmed manually using a long handled, balanced, spoon. The dross was then smelted in a reverberatory furnace to produce a saleable copper matte and separate out lead bullion, which was returned to the drossing kettles. The copper content of the drossed bullion was then further reduced by a sulphur treatment process.The drossing operations involved hard manual labour under arduous conditions and the pouring of hot bullion into...

Jan 1, 1963

Parallel lenticular orebodies occurring at the C.S.A. mine of Cobar Mines Pty. Ltd. are mined by mechanized cut and fill stoping over the full strike length. Access is provided for each stope lift from an inclined drive adjacent to the orebody. Mobile drill jumbos mounting hydraulically-operated booms are used for drilling upholes which are subsequently charged with ANFO explosive.Close control of drilling has been found essential for good back conditions and to ensure optimum fragmentation.Broken ore is transported from the face to the main ore pass by rubber-tyred, diesel-powered, load-haul-dump units. Initially, the units trammed ore to the main pass via the incline drive. As the stopes advanced and the lead distances increased, stope passes were developed in the wall rock and raised concurrently with each stoping lift. The passes terminate in drawpoints and production loaders are used to transport ore from the drawpoints to the main ore pass system.Two parallel ore pass systems have been developed to cater for both copper and copper-zinc ores. These systems terminate above a 48 in. by 60 in. jaw crusher. The crushed ore is conveyed to a traversing rock box and thence to one of two crushed ore bins adjacent to the main hoisting shaft. A loading station conveyor is interlocked with the winder to provide automatic ore hoisting.All phases of ore handling have been mechanized as completely as possible. Results to date indicate this policy has been vindicated but highlight the need for tight operating control and close liaison between operating and maintenance personnel.

Jan 1, 1969

By T Akiyama, J A. de Castro, H Nogami

Blast furnace is a countercurrent moving bed reactor that produces pig iron from iron bearing materials like pellet, sinter or lump ore. The furnace has cylindrical shape and the lump solid materials are alternatively charged onto the top of the furnace. Hot air is introduced through tuyeres that are set on the lower furnace wall. Auxiliary fuels (pulverised coal, oil or natural gas) and raw materials (fine ore or fluxes) are injected into the furnace with blast air from the tuyeres. In front of the tuyeres, coke particles react with oxygen in the blast air and generate carbon monoxide. The hot reacting gas heats up the lump solids and reduces iron oxides in the upper furnace. In the middle height of the furnace, the reduced iron and slag are fused by the combustion heat and form the cohesive zone. The molten iron and slag that are generated in this region trickle down through the packed bed of coke particles and flow into the bottom of the furnace. Therefore, the flows of gas, lump solids and liquids exist at the same time in the lower part of the blast furnace.

Jan 1, 2000

By T Baumgartl, D Mulligan, R Haymont

Mining at the Mt Leyshon Gold Mine in semi-arid north Queensland stopped in 2002. Newmont Australia has recently initiated a thorough post-closure water management study of the site by revisiting the existing information and conducting new water-related investigations. The focus of this paper, which is the first publication on post-closure environmental management of the site, is an overview of the site water quality in view of the sources and spatial distribution of polluted mine water, and also the performance of cover systems in controlling water flux though mine wastes. Since the mine closed the rehabilitation of waste rock dumps and tailings dams have significantly improved water quality in the surface receiving waters. However, the Scats Stockpile, the Heap Leach and Old Plant areas, which can potentially produce acidic waters, enriched with heavy metals and arsenic, are the top management priority. Modelling of the potential transport of contaminants in groundwater needs further investigations. A detailed examination of the waters in seepage sumps showed high concentrations of manganese, cobalt, nickel and selenium, which were previously overlooked. The study also showed distinctive chemical signatures for waters at different locations: the waters draining from scats, supergene materials and waste rocks have distinctly lower pH and higher concentrations of dissolved iron, sulfate, heavy metals, Mg, Mn, U, Se and As. While, the tailings sumps are more alkaline, and are enriched in Na and Cl. The southern tailing sump is characteristically As rich. The waters draining from the supergene materials have higher Cu concentrations. Assessment of the cover monitoring systems showed that although covers pass the design criteria, automated recording of data may ignore any failure of the monitoring system. Recalibration of the moisture sensors not only showed realistic moisture values compared to rainfall data but also showed that the permanently installed system records values that are higher than those of the mobile system. Event-driven recording of data overlooks infiltration events. Besides, with a higher time resolution (daily measurements) the breakthroughs could be clearly detected. Modelling of the water balance in covers is underway and an example is given here. Newmont is currently reviewing water management options and is willing to share the lessons learned.

Jan 1, 2006