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By B Murphy

Traditionally comminution optimisation has been focused on energy minimisation, whereas flotation optimisation has been focused on recovery improvement. One of the largest, if not the largest, operating cost over the life of a flotation circuit is electrical energy. With increasing pressure on operators to lower production costs and the cost of energy increasing, reducing the energy consumption of the flotation circuit can be beneficial to site economics. This paper reviews the use of energy by mechanically agitated flotation machines and discusses the measurement and benchmarking of energy consumption in modern flotation concentrators. Opportunities for improving flotation energy efficiency are also identified.CITATION:Murphy, B, 2013. Flotation energy consumption and opportunities for improvement, in Proceedings MetPlant 2013 , pp 399-412 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Jul 15, 2013

By P Moswate, D Phillpotts, S M. Mantsho, P Strobos

A challenge on many industrial flotation circuits is controlling concentrate mineral grades using measurements that are provided infrequently. The mineral grades in concentrate streams are a critical performance indicator in any industrial flotation circuit. Failure to achieve concentrate mineral grade targets has significant financial consequences on a flotation operation. A violation of gangue mineral grade limits by the concentrator may also result in significant penalties.Online grade analysers which can provide reliable real time grade measurements are essential for effective grade optimisation. The Blue Cube MQi analyser (by Blue Cube Systems) has recently come to prominence for its ability to rapidly determine mineral concentrate grades online and has the benefit of operating in-stream. This has provided excellent insight into the actual process dynamics in the flotation circuit, and hence enabled real-time control and optimisation of concentrate mineral grades.MintekÆs Measurement and Control division, specialising in advanced control solutions for mineral and metallurgical industries, has had the opportunity to link the FloatStar Grade-Recovery Optimiser to the measurements provided by the Blue Cube system at the BCL nickel concentrator plant in Botswana. The project focused on stabilising the final concentrate grade while ensuring the final tailings are minimised, resulting in an improved nickel recovery. This site already had the FloatStar Grade-Recovery Optimiser for several years, but the original grade measurement device was unreliable and ultimately failed. The system was reactivated once the Blue Cube system was installed, replacing the old analyser. The positive results show the advantages of combining reliable real time measurements with an advanced process control system.CITATION:Mantsho, S M, Moswate, P, Strobos, P and Phillpotts, D, 2013. The implementation of floatstar grade-recovery optimisation control solutions using Blue Cube Online grade analysers on industrial flotation circuits, in Proceedings MetPlant 2013 , pp 575-582 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Jul 15, 2013

By L Lachance, F Flament, D Leroux, S GariTpy

"Considerable metal values are often locked in stockpiles (ore, concentrates, heap leach pads, slags, reverts, etc.) and process equipment (bins, holding tanks, thickeners, etc.). This is more than enough to justify accurate accounting of such in-process metal inventories from both financial accounting and operational perspective. However, accurately determining the metal inventory of an in-process unit is often a challenge in industrial practice. Audits have shown that available indirect or direct measurements often carry large inaccuracies. Sooner or later, ignoring these measurement errors lead to unexpected incoherencies in reported metal balances. In such situations, coherent metal balances are then achieved through subjective and sometimes significant adjustments of in-process inventory levels. While such metal accounting methods applied by mineral processing engineers used to be rarely challenged, they are now being increasingly scrutinised by various stakeholders. Hence, metal accounting procedures that mitigate subjectivity in adjustments while still coping with the unavoidable uncertainty are more relevant than ever.This paper reviews three different metal accounting methods for reporting in-process metal inventory values. Their individual application strongly depends on the available measurements i.e. The indirect method where the metal inventory of a given process unit is determined by subtracting the cumulative reclaim from the cumulative feed carries important flaws. The direct method also comes with challenging accuracy issues so that emptying a process unit is often the best available inventory measurement. This reality is recognised for by further analysing a previously proposed operating mode where two interchangeable process units are alternately used. The third investigated method is the redundant method which combines indirect and direct methods for a given process unit. This paper reveals that the dual process unit operating mode and the redundant method can both significantly improve the estimation quality of in-process metal inventories.CITATION:Lachance, L, GariTpy, S, Leroux, D and Flament, F, 2013. Review of metal accounting methods for in-process metal inventories, in Proceedings MetPlant 2013, pp 102-117 (The Australasian Institute of Mining and Metallurgy: Melbourne)."

Jul 15, 2013

By E Skinner, G Lane

Project delivery strategies are determined by project context, business case requirements, scale of project, market conditions, ownerÆs capability and preference, contractorÆs experience, resource and skill availability, project location and type of project or facility.Successful project management requires the setting of coherent, effective and realistic business objectives and success criteria. The management team needs to lead, prioritise, resource, align, plan, track and communicate the processes that enable the realisation of these business objectives and success criteria.For any given project there is a unique balance between selection of a simple project delivery strategy that minimises interfaces and a complex strategy that necessarily engages the use of expertise and experience from numerous parties. The right balance for a project between these "book-end cases" is a function of how the project owner or managing contractor defines its objectives and chooses to manage risk, cost, schedule and project quality, in the context of the conditions affecting the project.Selection of an effective project delivery strategy requires a detailed appreciation of the range of external and internal environmental / shaping factors which influence the project. These factors include the project constraints imposed by the business, market or operational environments and the selection of an effective mix of primary (head contract), secondary (mix of vertical and horizontal packages) and tertiary (type of individual contract) strategies. The selection of the primary, secondary and tertiary strategies also shapes the project, the size and responsibilities of the ownerÆs team and the framework for delivery of outcomes.How does an owner or prime contractor decide? What is the optimum for a given project? Those with operations management backgrounds will have different views to those with project and construction management backgrounds.Is the simplest practical approach the best approach? Each and every interface needs to be managed.The owner will want a very experienced team that is engaged directly with the owner. The team will have a track record of successfully performing projects using contractors skilled in their respective disciplines and selected using competitive tendering on brilliantly designed scopes of work and good contract terms, with a fully defined project scope and appropriate schedule, for which all significant risks have been addressed and no scope changes are outstanding. Budget and schedule will be expected to have been developed with a full understanding of the scope, situation, risk management requirements etc.The problem is that these conditions rarely exist. The challenge in selection of a project delivery strategy is to resolve how best to address the inadequacies between the ideal case and the present reality. The mechanism for addressing the inadequacies defines the likely outcome of the project.CITATION:Lane, G and Skinner, E, 2013. Project delivery, in Proceedings MetPlant 2013 , pp 50-65 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Jul 15, 2013

By J. He

The separation performance of a raw coal sample from South Africa based on the dense gas-solid fluidized bed beneficiation technique was investigated. Analysis showed that the raw coal sample distributes mainly in the -50+6 mm size range with the -1.6 g/cm3 density fraction accounting for 78.20% of the cumulative mass distribution. A flow sheet of the sequential coal beneficiation technique was introduced. The experimental and simulation results of the hydromechanical and density distribution stability indicate that the dense gas-solid fluidized bed could provide a stable separation environment with uniform density fluctuations under suitable operating conditions. With the application of this technique on the raw coal sample, the separation results show that three products, consisting of 73.25% clean coal with an ash content of 9.59%, 11.31% middlings, and 15.44% gangue were effectively separated at two different densities of 1.82 g/cm3 and 1.57 g/cm3. This study provides an effective flow sheet for achieving the high-efficiency separation performance on raw coal from arid areas. Keywords dense gas-solid fluidized bed, dry coal beneficiation, density distribution, separation efficiency.

Jul 1, 2013

By E Acu±a, B Prosser, R Alvarez, K Wallace

This paper describes the ventilation analyses performed for the access tunnels at the New Level Mine project (NLMP) at CodelcoÆs El Teniente operation outside of Rancagua, Chile. This new mine is anticipated to reach a final production of between 137 and 180 kt/d. Production from the NLMP is scheduled to start in the year 2017. The main access tunnels (MAT) are approximately 9 km in length, with one for personnel and supply access and the second one for ore extraction through a conveyor system. These two tunnels are a critical component of the initial stage 1 development and will be constructed independently of the existing mine workings. The tunnels were originally designed to be constructed with two tunnel boring machines. However, later analyses changed the construction approach to a conventional drill and blast technique. Because the design included two mid-tunnel ramp-to-surface connections, conventional mining methods would allow for development of the tunnels with multiple working faces to achieve a more rapid schedule. This paper presents the initial baseline considered for the ventilation design and the optimisation methodology applied by Codelco to minimise the airflow and pressure requirements of the ventilation system. Modifications to the design resulted in the addition of strategic airways and raises that could provide a saving of approximately 1 MW, when compared to the original design.CITATION:Acu±a, E, Alvarez, R, Wallace, K and Prosser, B, 2013. Ventilation considerations for the new level mine project access tunnels, in Proceedings The Australian Mine Ventilation Conference , pp 203-206 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Jul 1, 2013

By D Cliff

Despite advances in technology, the Australian underground coal mining industry continues to have incidents involving spontaneous combustion. Managing these incidents relies heavily on understanding the state of the event as it develops and controls are applied. Gas analysis plays a major role in aiding this interpretation. This interpretation is based upon laboratory testing of coal samples under conditions very different to those found in an underground coal mine. This paper will explore the links between laboratory data and actual events. It will highlight the difficulties of using laboratory data. It will outline the relevance of laboratory data and how it can be usefully applied to manage spontaneous combustion events as well as in establishing relevant trigger action response plans to facilitate early detection and control of such events. The paper will identify some of the factors that need to be applied when adapting laboratory data to apply to the underground coal mine. It will outline the need for comprehensive knowledge of the local conditions and gas concentrations to be expected at all locations in an underground coal mine. Further, it will demonstrate the need for mine environment monitoring to go beyond simply measuring gas concentrations but also to include reliable atmospheric pressure, temperature and air velocity monitoring.CITATION:Cliff, D, 2013. Gas analysis - Linking the laboratory with reality, in Proceedings The Australian Mine Ventilation Conference , pp 277-282 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Jul 1, 2013

By Víctor Laguna Pontolillo

"El presente texto señala la política y estrategia de Responsabilidad Social Corporativa implementada por Peruvian Latin Resources S.A.C. en el proyecto de exploración minera Mariela, Islay - Arequipa. Para ello, la empresa asumió el reto de responsabilidad -en tanto su relación era con la comunidad y no debía ser terceriazada con empresas consultoras."

Jul 1, 2013

By S Bluhm, LádeáOliveira, R Funnell

Taquari Vasouras potash mine (Vale Fertilizantes) has many interesting features including virgin rock temperatures of 50¦C at depths of 700 m. The mine has a relatively small shaft system with limited ventilation carrying capacity, which was not adequate to exploit the full extent of the deposit. This limitation was overcome by installing two large-scale recirculation systems with underground reconditioning centres. This paper describes this unique mine ventilation and cooling system and some of its history over the past two decades. The two controlled recirculation systems have been operating safely for some ten years and the use of large-scale recirculation has been a fundamental component in the increase of production and extending the mining further-and-further from the shaft centre. The recirculation systems have played a huge role in the mine profitability and comprehensively extending the mine life. The paper also discusses a number of novel design and operating features such as reverse running pumps for energy recovery. The underground chilled water system design required a number of special safety features in order to minimise the risk of water leakage since this could be catastrophic in a potash mine. This paper describes a good example of a mine in which the final ventilation and cooling system design ends up very different to what was envisaged at the greenfields stage.CITATION:Bluhm, S, Funnell, R and de Oliveira, L, 2013. Controlled recirculation and refrigeration at ValeÆs Taquari Potash Mine, in Proceedings The Australian Mine Ventilation Conference , pp 237-248 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Jul 1, 2013

By D J. Brake

The underground metalliferous mining industry continues to change under the influence of many factors including, to name a few, new mining techniques and equipment, new approaches to risk management, more stringent safety and health standards, new employment practices and orebodies become deeper and often lower grade. In addition, the same technological revolution and plummeting cost of technology that has brought the GPS, smart phones and digital cameras to the general population is also working its way through the mining industry impacting on communications, automation and process control as well as introducing major efficiency and productivity dividends. However, not all factors are positive including, in particular, the issues of carbon costs and electrical power. This paper explores some of the trends affecting ventilation in hard rock mines, some of the existing and likely future challenges and some of the potential future solutions to these issues.CITATION:Brake, D J, 2013. Ventilation challenges facing the metalliferous sector, in Proceedings The Australian Mine Ventilation Conference , pp 3-12 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Jul 1, 2013

By B Smith, R Gelson

Springvale Colliery is an underground longwall mine situated approximately 10 km north-west of Lithgow in the western coalfields of New South Wales. Following a full-scale review of the mineÆs ventilation system in mid-2010, it was clear that the mine by early 2013 would become ventilation constrained as a result of the increasing size of the mine workings, the predicted worsening tailgate conditions and plans to introduce a fourth continuous miner unit. This realisation led Springvale to embark on a major upgrade of the mine ventilation system that would meet short-term and life-of-mine (LOM) requirements.Included in the upgrade project was the installation of a new high pressure centrifugal main exhaust fan that is capable of overcoming the high resistances imposed frequently on the circuit by restrictions in the tailgate airway. The new fan featuring a 2.5 MW motor is designed to be capable of operating at a quantity of 250 m3/s at a pressure of 7.9 kPa, a substantial improvement over the previous system, which had an operating duty of approximately 145 m3/s at 1.9 kPa. The new fan is of a centre hung design and features a backup diesel motor to maintain ventilation in the event of a power outage.Structural engineering analysis determined that under the operation of the new main fan the existing standard of ventilation control devices (VCDs) at Springvale would not be adequate to withstand the increase in differential pressures. As such, an upgrade of critical VCDs was undertaken utilising a novel high flexural strength (9 MPa) shotcrete and thin spray-on liner, which help serve to safeguard the structural integrity of the appliances and prevent increased leakage as roadway conditions at VCD sites deteriorate over time (a serious problem in many areas of the workings at Springvale).In addition to the main ventilation system upgrade, a separate upgrade focusing on improving development face ventilation was also undertaken. This upgrade included the purchase of two high capacity (22 m3/s) variable inlet vane (VIV) auxiliary fans to facilitate comfortable development face ventilation.The upgrade of the mine ventilation system at Springvale has been three years in the making, but has removed a major business risk in that it has afforded mine planning and operational flexibility (a fourth unit can now be introduced) for the LOM, and importantly provided unprecedented levels of comfort to operators at the working faces where previously ventilation and heat issues were frequently reported. The impact of this on the morale of the workforce, and hence their output, should not be underestimated.CITATION:Gelson, R and Smith, B, 2013. Life-of-mine ventilation system upgrade at Springvale Colliery - A case study, in Proceedings The Australian Mine Ventilation Conference , pp 79-86 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Jul 1, 2013

By A. Madowe

This paper discusses the mine planning process for Letseng diamond mine in the Kingdom of Lesotho, in conjunction with the various software packages used during the process. The major pillars of the long-term mine planning process at Letseng are pit optimization followed by pit design and scheduling. Letseng uses Gemcom Whittle and GEMS for pit optimization and design and Runge XPAC for scheduling. The output of the mine planning process results in the generation of published mineral reserves and provides input into the Letseng overall business plan. The process of defining the key inputs for the entire mine planning process is discussed, which covers: ? Pit optimization ? Slope design as an input ? Diamond price inputs ? Operating and capital cost inputs ? Haul road design ? Generation of pit shells ? Selection of an optimum pit shell and interim cutbacks using operational scenarios ? Sensitivity analysis on the selected optimum pit shell. ? Pit design ? Slope design criteria in the detailed design ? Split shell vs concentric pit design ? Practical mining widths to determine cutback design ? Ramp design ? Pit design process in the GEMS software package. ? Detailed scheduling ? Development of scheduling scenarios in the XPAC software package ? Planning through mining production bottlenecks. ? Company-level NPV model ? Comparing scenarios and input of the different schedule scenarios into the company NPV model. Keywords pit optimisation, mine planning, pit shell, recovery, dilution, revenue factor, pit design, split shell, sensitivity analysis, scheduling, production bottleneck, NPV, discounted cashflow.

Jul 1, 2013

By J. Botin

Traditional risk quantification methods provide little information on the sources of risk, and tend to produce static over-conservative evaluations, which do not account for changes in the performance of the project. Capital investment decisions for large mining projects require more complex risk evaluation models that include the value of flexibility and the different risk levels associated with uncertainty on project variables (price, grade, dilution, and production rates, among many other). In this context, real option valuation (ROV) methods have proven potential to quantify the risk associated with such variables and integrate alternative scenarios and management strategies into the evaluation process. In this paper, a risk quantification model is developed that successfully quantifies the risk associated with dilution, as a function of production rate. This model is then validated in a case study on the Chuquicamata Underground Mine project. Keywords real options, risk management, risk quantification, dilution, minine planning.

Jul 1, 2013

By R Bourcier, T Rafferty

Following an underground coal mine explosion, it is important that ventilation is quickly restored to ventilate the mine and affect a mine rescue. To achieve this, surface ventilation fans must be suitably protected from explosion damage, but still able to be quickly restored.A review of all Australian coal mine regulations was carried out, revealing that Australia has no prescriptive regulations that specify the design of explosion relief panels and the protection of ventilation fans in the event of an underground explosion.To better define the level of protection required, this paper reviews and extracts details from relevant major international regulations and standards on the subject.A suitable design methodology for the protection of ventilation fans is presented that could be applied in Australia, using a combination of explosion relief panels, appropriate isolation of the fan, and ventilation shaft/mine design.CITATION:Rafferty, T and Bourcier, R, 2013. The protection of surface ventilation fan installations from underground explosions, in Proceedings The Australian Mine Ventilation Conference , pp 169-173 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Jul 1, 2013

By M Podreka, P Merry, L van den Berg

Anglo Gold AshantiÆs Sunrise Dam operation is located in Western Australia approximately 55 km south of the town of Laverton. Currently, the mine is producing from both its open pit and underground operations and is planning a significant step change in underground production as the pit phases out. The mine ventilation system is arranged in three independent ventilation districts: Astro, GQ and Cosmo. The future ventilation infrastructure requires significant upgrades to keep up with the increased tonnage. In the short term, increased production is planned for the GQ district as well as for Vogue, which is an extension in the Cosmo ventilation district. In the long term, however, Vogue is likely to become the centre of attention for mining activity.This paper explores several ventilation scenarios which include upgrading the existing fan stations, rentals, establishing a common ventilation backbone, and establishing new upcast infrastructure for GQ to support the short-term production increase. These developments were modelled using ventilation network simulation software to determine airflow distribution and fan operating points for each option. For the GQ area, with its short-term increase in production, each option is evaluated for total owning cost by considering capital and operating costs over a three-year period. For Vogue, which is to become the main focus of mining in the future, a different strategy is followed in analysing the ventilation requirements. Instead of considering different short-term options, a number of staged upgrades are considered to achieve the desired production rates.This paper summarises the planning criteria, airflow requirements, ventilation infrastructure requirements, and economic analysis associated with the conceptual ventilation system design. It highlights how the best short-term ventilation infrastructure upgrades can be selected when considered in isolation but highlights that long-term production planning can have an effect on the decisions made in the short-term.CITATION:van den Berg, L, Podreka, M and Merry, P, 2013. Sunrise Dam short- to long-term ventilation planning, in Proceedings The Australian Mine Ventilation Conference , pp 107-114 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Jul 1, 2013

By S Gillies, H W. Wu

A study has been undertaken into mine ventilation systems currently in use within Australian modern coal longwall (LW) extraction mines. It reviews systems and discusses evolving changes being adopted to address the more complex challenges. There is a strong move to longer panels, wider faces, greater extraction heights, increased production rates, more efficient ventilation and decreased personnel. Each of these changes is motivated by improvement in productivity and generally leads to cost reduction. In addition, mine workings are moving deeper, which results in increased ventilation control issues such as higher total and respirable dust levels, greater seam gas contents in parallel with lower in situ permeabilities, spontaneous combustion and heat management issues. A comprehensive database of Australian LW ventilation practice is analysed. Currently there are a variety of LW panel ventilation circuits used in Australian underground coal mines due to various combinations of seam characteristics, gas emission rates, spontaneous combustion, geological features and surface constraints. The main issues usually addressed in the designing and planning of ventilation circuits for LW panels are airway velocity, gas concentrations, LW cutting methods (eg Bi-di, Uni-di or half web), ventilation of control devices, pressure differentials and leakage paths and understanding gas concentrations across the length and width of the goaf. If the ventilation circuit can manage the applied contaminant load (gases, heat and dust) at an acceptable cost and circuit duty, then supplementary controls, such as gas drainage, refrigeration and dust sprays and scrubbers, may not be required. CITATION:Gillies, S and Wu, H W, 2013. Review of Australian longwall panel ventilation practices, in Proceedings The Australian Mine Ventilation Conference , pp 87-94 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Jul 1, 2013

By M S. Kizil, T OÆConnor

It is predicted that underground coal mines in the Bowen Basin will have a significant rise in heat problems as mines aim to increase production, depth of extraction and length of longwall panels. At an actual Bowen Basin mine, extended longwall panels greater than 4 km in length are planned to be mined at depths with a virgin rock temperature (VRT) of more than 40¦C. Research has been completed into the reasons for the substantial increase in temperature at the face for underground coal mines in the Bowen Basin. An analysis into heat loads produced at the Bowen Basin mine for the development and production phases shows a significant amount of additional cooling will be required to ensure safe working temperatures. All of the major sources of heat, which included both natural and mine induced heating, were considered for the analysis. Maximum heat loads were assessed, together with peak intake surface temperature to determine the maximum cooling capacity required at a Bowen Basin mine. These maximum heat loads were assessed for a specific longwall panel, Longwall A, which extends to over 4.1 km in length and at a maximum depth of over 330 m, resulting in a VRT above 40¦C. The cooling system positional efficiency was analysed, determining that underground cooling via an indirect heat exchanger was preferred to increasing the capacity of the current bulk air cooling (BAC) on the surface. A preliminary cost analysis was also detailed which compared the cost of additional BAC compared to implementing underground cooling.CITATION:OÆConnor, T, Kizil, M S and Belle, B, 2013. Required cooling system capacities for extended longwall panels at a Bowen Basin mine, in Proceedings The Australian Mine Ventilation Conference , pp 249-256 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Jul 1, 2013

Rockbursts continue to be a scourge in the mining industry, being responsible for accidents and damage to mining excavations. Although the problem has been present for more than a century, and although much research has been carried out, a solution is still elusive. Determination of, firstly, the demand on the support system imposed in the rockburst and, secondly, the capacity of the support system, cannot be carried out with any confidence, and therefore rockburst support cannot be designed using a conventional design approach. In contrast with the conventional approach, observations of rockburst damage in a mine have revealed a possible alternative approach to rockburst support ? sacrificial support. It was observed, in rockburst events, that a support system consisting of concrete panels restrained by grouted cables was destroyed, and the concrete panels were ejected. However, the rock behind the panels remained apparently undamaged and in place. This behaviour reignited the concept of sacrificial support, conceived more than 20 years ago, and which is described in this paper. The remedial solution implemented on the mine, involving cables wrapped over the panels and retained by grouting into boreholes, has been subjected to rockburst loading and has confirmed the validity of the sacrificial support concept. The concept of sacrificial support may be controversial, but is deliberately presented here with the aim of generating discussions and contributions, and with the ultimate aim of improving safety and reducing rockburst damage in mines. Keywords rockburst, seismicity, seismic waves, rock support, support design.

Jul 1, 2013

By B Robertson

Over the 40 years that the author has been engaged in the Australian underground coal mining industry, there has been a continuous improvement in safety performance as the sector has grown in size and productivity. The underground environment hosts many hazards with significant risk profiles that are kept in check by effective health and safety management systems that have evolved largely following major underground disasters. Observations are made on the changes observed for specific aspects of the underground coal sector, with particular reference to ventilation issues, and predications are made as to the needs of the future.CITATION:Robertson, B, 2013. Past achievements and future challenges in the underground coal sector, in Proceedings The Australian Mine Ventilation Conference , pp 27-32 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Jul 1, 2013

By William Gleason

The world has seen unprecedented economic changes in recent years, starting with the stock market collapse of 2008 and the great recession that followed. With these changes, the mining industry, like others, has been forced to find ways to adapt to the shifting and sometimes volatile conditions. It has been a bumpy ride that has not been easy. Prices for most commodities have been in a decline in the past several quarters ? albeit still well above the average prices of 10 years ago ? as the costs of production have been on a steady incline for the past 10 years. Adding to the concern was the report in April that China, which had grown at an average pace of 10 percent/year, for the past decade, slowed to less than 8 percent gross domestic product (GDP) growth this year, catching many off guard. Even gold, once the safe haven for investors during rocky times, stumbled in April of this year, losing 7 percent of its value in two days. So what?s an investor to do ? and how can companies still attract financing? For the first time in 10 years, SME, in conjunction with the New York Local Section of SME, attempted to clear the waters of the mining finance sector with a conference focused on ?Current Trends in Mining Finance.? Held at City University of New York, Graduate Center, April 29-30, the two-day conference attracted 148 attendees and was intended for senior executives and mining industry specialists, covering a range of important topics and trends through 17 panels with about 50 speakers. The presentations came from representatives from some of the most influential companies in the mining and financial sectors, including Citi, Nomura, Societe Generale, Caterpillar, Newmont Mining Corp., Ernst & Young, Export Development Canada (EDC), KPMG, HSBC, Tocqueville Asset Management, BNP Paribas, Revett Minerals, Royal Gold, Environ and ERM.

Jul 1, 2013