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Recovery Efficiency Study on Ilesha Placer Gold Ore by Flotation Using Locally-Sourced Frothers and Collectors

Sep 13, 2010

The dissolution of gold in cyanide has been studied, using both chemical and electrochemical techniques. The electro-chemical studies have confirmed that gold may become passive in cyanide solution if its potential becomes more positive than -O· 5 V v. saturated calomel electrode (S.C.E.). The results of the conventional solution rate tests suggest that, although the solution rate is controlled by the rate of diffusion of oxygen at low oxygen and agitation levels, when these are increased the gold may become passive and its solution rate approach a steady value, or even decrease with increasing oxygen level. The passivity of gold has been shown to be of importance in the solution of small spheres of this metal, and in the extraction of gold from a calcined auriferous pyrite concentrate.INTRODUCTIONAlthough it has been appreciated for many years (McLaurin, 1893, 1895) that dissolved oxygen is a necessary adjunct to the solution of gold by the cyanide process, attempts to quantitatively assess its effect have led to conflicting results. For example, Barsky, Swainson, and Hedley (1934) reported that an increase in oxygen concentration improved the solution rate, but Beyers (1936) claimed that such an increase would reduce the rate at which the gold dissolved.By using an electrochemical approach Kudryk and Kellogg (1954) showed that the diffusion rate of either the cyanide or the oxygen was a controlling factor, and that, if the mole ratio of cyanide to oxygen concentration was greater than 10, the solution rate was proportional to oxygen concentration.These results, although they represent some of the most careful work available, were in direct contradiction to the findings of Mills (1951), who found that gold may become passive in cyanide solution, with a resultant decrease in solution rate.

Jan 1, 1963

By A Vakili

Dilution is associated with considerable direct and indirect costs in underground open stoping operations. As shown in previous works, an improved ability to predict dilution enables the economic risks associated with unplanned dilution to be reduced. Depending on the width of the orebody and depth of mining, the economic performance of an open stoping operation can become even more sensitive to dilution. It is shown in several well-documented studies that as little as 1 per cent of additional dilution can impose millions of dollars of lost profits per annum. Optimisation of a stoping operation is therefore largely dependent on the ability of the operation to minimise dilution. This can only be achieved through sensible analysis of past and future performance of mined stopes using the most appropriate recent available technologies and tools. This article presents a new design process that utilises advanced geotechnical numerical modelling and various other analytical tools to assist with a more robust mine design of open stoping operations. The focus of this design process is on geotechnical factors affecting dilution during the life-of-mine. A recent application of this optimisation method for a mining operation is presented in this paper as a case study. Through the application of this method and various other operational improvements, the mine was able to deliver more consistent production and lower operating costs over its life-ofmine outlook and was able to reduce dilution by up to 50 per cent and achieve sustainable record high production rates.

Mar 29, 2023

By H Kurth

"The focus of this paper is on measuring the composition to improve mill feed quality to minimise the processing of waste, optimise process performance, reduce processing costs and minimise the generation of tailings.Technologies used since the 1990s in the cement and coal industries for measuring conveyed materials have been operationally proven and effectively derisked. Despite this the acceptance by the minerals industry has been very slow except in iron ore. Real-time penetrative full stream measurement using prompt gamma neutron activation analysis (PGNAA) for multielemental analysis and microwave transmission for real-time moisture analysis provide representative, tonnage weighted dry weight per cent results on a minute by minute basis. Analysis is unaffected by particle size, dust, layering/segregation, mineralogy and belt speed. The technologies are explained and performance examples given. The benefits derived from real-time compositional analysis are predicated upon a good understanding of deposit geology, mineralogical associations, waste to ore interfaces, amenability to mining, metallurgical processes and downstream customer requirements. Processing may include basic preparation in the case of direct shipping ores, minor beneficiation using simple upgrading methods, or concentration using more complex processing systems such as flotation, leaching or many others. The value of real-time data from primary crushed conveyed flows, using analysis of increments smaller than a single haul truck’s load, is very beneficial in process plants aiming to reduce waste processing, increasing feed grades and increasing metal recoveries. Grade variability can be utilised to divert conveyed increments of waste, direct shipping ore (DSO) quality material bypassing beneficiation, and subeconomic material amenable to upgrading diverted for further preconcentration by particle separation (sorting, heavy medium etc). Paybacks of a few months have been commonly achieved where the real-time technologies have been applied in the minerals sector. The paper outlines proven applications and case studies and proposes some innovative applications.Citation:Kurth, H, 2016. Measuring and Utilising Ore Quality Variability Using Real-time On-belt Elemental Analysis to Improve Mill Feed Quality, in Proceedings 13th AusIMM Mill Operators’ Conference 2016, pp 239–244 (The Australasian Institute of Mining and Metallurgy: Melbourne)."

Oct 10, 2016

By M Furche, U Noell, C Grissemann, J A. Meima, T Graupner, A Romero-Baena

The mining residues at the abandoned copper mine site Pe±a de Hierro, located at the headwaters of the Rio Tinto, contribute substantially to the pollution of the river with high loads of Fe, As, Pb, Zn and Cu. The pH of the outflow ranges from 0.5 to 2.4 in the dry and wet season, respectively. One heap composed of alternating layers, which were deposited parallel to the slope, was investigated in detail. Unsorted blocky to fine materials including gossan material, pyritic volcanics, ashes from pyrite combustion and slate were observed here. The top of the heap has a gentle slope and a hill contouring channel-rip morphology. The initially rugged surface was smoothed by heavy rainfalls filling up the pores of the blocky material with fines. These fines are capable of storing the water for a prolonged time, providing an extended reaction time close to surface in a dry climate at extremely low pH conditions (one to four). All minerals, pyrite, mica, barite and even quartz (probably due to F released from dissolved mica) have been digested and silica gel precipitates have formed a stable and quasi impermeable 100 ¦m layer with very low porosity (<5 area per cent, estimated using scanning electron microscopy (SEM) imaging). The silica layer itself is covered by Fe-oxy-hydroxide (ie FeOOH) coating (10 ¦m) and seals a 1 - 5 mm thick stable hardpan. This hardpan covers the channels and part of the rips almost entirely, guiding the rainwater subhorizontally towards slopes and sinkholes. By geoelectrical measurements, a 3D-resistivity model of the internal structures and the bedrock relief underlying the heap was generated. Internal structures relate to lithological changes in a number of layers. Zones of low resistivity may be attributed to washed-in fines within the mega pore system, whilst zones of high resistivity close to the surface probably reflect the advanced stage of drying beneath aging hardpans. The water movement at the surface was investigated by an artificial precipitation experiment with monitoring of the subsequent changes in resistivities.

Jan 1, 2008

By C De-Vitry

"The large Yandi channel iron deposit (CID) is located in the north-west of Western Australia and is currently mined via open pit methods. Drilling at Yandi is widely spaced and current estimates are mostly linear averages of the surrounding local samples. Linear estimates such as ordinary kriging (OK) based on block sizes that are significantly smaller than the dimensions of the drilling grid are less variable than the unknown reality (Armstrong and Champigny, 1989).Conditional simulation (CS) provides a series of plausible realisations that represent the actual grade variability at a small scale (eg 1 m + 1 m + 1 m). These simulations are very useful for a number of purposes, eg: optimising grade control, stockpiling and blending selection of optimal drill hole spacing assessing resource risk on contained tonnage and metal.At Yandi the major constituents of the ore (Fe, P2O5, SiO2, Al2O3 and LOI) are correlated to varying degrees. Independent CS of each assay variable will not reproduce these correlations. Reproducing the correlations (and the shape of scatterplots) is important if the simulations are used for the abovementioned purposes. This paper examines and compares various methods of CS that aim to reproduce the correlations between the assay variables.The CS methods evaluated in this paper are conditional co-simulation (CCS) using the linear model of co-regionalisation and two other, alternative multivariate simulation methods, which use min/max autocorrelation factors (MAF) or the stepwise conditional transform (SCT) to de-correlate assay variables before performing independent CS. It was found that CCS best reproduced the characteristics (histograms, variogram, scatterplots, etc) of the declustered drill hole data (Figure 1). Whilst simulation using MAF generally produced acceptable results, the method did not adequately reproduce the variance of the assay variables. The univariate statistics, histograms and experimental variograms were acceptable for simulations generated from the SCT. Bivariate statistics, cross-variograms and scatterplot reproduction for the SCT were unacceptable. The latter method produced inferior results because there were insufficient samples to obtain a reliable transform of the third assay variable in the transformation sequence.None of the abovementioned simulation methods provides good reproduction of all the scatterplots. This is due to the presence of clay pods, which cause some scatterplots to display two trends. These clay pods contain higher percentages of SiO2 and Al2O3 than the surrounding CID. The clay pods are generally smaller than the drill-grid dimensions. Thus their locations are typically unknown and they cannot be defined by manual interpretation, eg via wireframes. The locations of the clay pods were simulated via indicator CS. CCS was then performed separately for the clay pods and the CID. This significantly improved the reproduction of the correlation coefficients, the scatterplots and visually the simulation was more geologically realistic. Simulating the location of clay pods followed by CCS of assay variables is the recommended approach for simulation at the Yandi CID.CITATION:De-Vitry, C, 2013. Simulation of correlated assay variables - a case study from the Yandi Channel iron deposit, in Proceedings Iron Ore 2013, pp 137-148 (The Australasian Institute of Mining and Metallurgy: Melbourne)."

Aug 12, 2013

The Wamum and Idzan Creeks Prospect, located 79km W of Lae, Morobe Province, Papua New Guinea (PNG) was discovered by the exploration arm of Conzinc Riotinto of Australia Pty Ltd (CRAE). The detailed surface exploration and 11 vertical holes drilled by CRAE, combined with the recent work by Highlands Gold Limited, indicate the occurrence of porphyry copper-gold mineral- isation and associated alteration. The prospect occurs within andesitic volcanics of the Middle Miocene Langimar Beds. It is bounded by NE trending faults to the NW and SE. The alteration and mineral- isation is hosted in the andesitic tuffs adjacent to high level quartz diorite and hornblende diorite stocks. A NW trend to alteration and mineralisation is obvious in Wamum and Idzan Creeks. The main alteration type is propylitic with minor zones of potassic alteration. A late sericite-quartz-kaolinite-pyrite alteration overprinted the earlier alteration and mineralisation. Copper and gold mineralisation is related to a quartz-carbonate-chalcopyr-ite-pyrite (¦ bornite) vein stockwork and biotite ¦ K-feldspar alteration. The mineralisation system at Wamum and Idzan creeks is low in total sulphides. It is considered as a high- level fracture-controlled system with limited low grade Cu-Au mineralisation.

Jan 1, 1991

By L van Latum, A Koh, I Thomas

Haul truck drivers are at a high risk of developing fatigue due to the monotonous nature of the work and demanding shift rosters. In the mining industry, fatigue is identified as a major contributing factor in several fatal accidents a year. A number of fatigue detection devices are now available, that can contribute to improved fatigue risk management in the mining industry. This paper describes the technology and algorithms behind one particular product which is both predictive and un-obtrusive to the operator. The Advisory System for Tired Drivers (ASTiD), was developed by Fatigue Management International (FMI) in collaboration with the Loughborough Sleep Research Centre (LSRC), both in the United Kingdom. While this system includes a model of the human circadian rhythm as a bias for predicting expected fatigue risk by time of day, it also uses yaw data generated by a solid-state gyroscope in the horizontal plane. Algorithms analyse this data to determine the level of monotony of actual driving conditions and to detect changes in steering control caused by driver fatigue. During normal levels of attention, a haul truck driver applies continuous, small adjustments to the steering wheel. As the level of fatigue increases, steering adjustments become less frequent and more erratic. Differentiating between these modes of control in the highly variable mining environment is accomplished by chromatic processing of the gyroscope data. This paper will go into some detail explaining the principles behind chromatic processing and the specific application of these in detecting fatigue in haul truck operators.Technology in itself is not the solution to addressing operator fatigue, but it plays an important role in ongoing monitoring and maintaining awareness with mining personnel. Furthermore, the specific principles behind ASTiD technology support a risk-based approach to fatigue management, allowing optimisation of the mining operation for productivity as well as safety.

Sep 26, 2011

HISTORY OF PROCESS DEVELOPMENT The manufacture of coke from coal commenced at the beginning of the 17th century by heaping coal into circular mounds in the open, covering with earth, clay or ash and slowly burning the coal in the mounds to produce a heap of coke. Naturally the process was slow in production rate with low coke recovery due to the loss of that part of the coal which was completely burnt to ash. As a natural consequence of this initial carbonisation method, a coke oven design was developed so that the coking chamber, which was constructed of brick, was circular in plan, cylindrical in section with a dome shaped roof - similar in shape to the original coal mounds. As the shape of the chamber was similar to the old dome shaped beehive, the ovens were called beehive ovens. The ovens were built in long single or double rows with retaining walls between each oven and as such were known as a battery of beehive coke ovens. In these early beehive ovens, coal was charged from hand wheeled tubs into a hole into the top of each oven, hand- levelled with a rake and the oven side opening sealed with bricks and clay except for some small holes in the opening to admit limited quantity of air for combustion. Coking commenced by the heat retained in the brickwork from the previous charge. The gases evolved from the coal, together with the admitted air, were partially burnt inside the oven to supply the heat for carbonisation and the surplus gases were burnt to waste at the top charging hole. The heat from this gaseous combustion inside the oven together with the reflected heat from the brickwork of the arched roof of the oven allowed carbonisation of the coal charge to proceed from its surface slowly downwards to the floor of the oven. At the end of the coking cycle (usually 4 or 5 days) when there was no more evolution of gases, as indicated by diminishing gas flame and a drop in oven temperature, the brickwork of the oven opening was removed. The coke was then quenched by inserting a pipe with spray holes to spray water over the coke charge in the oven after which the coke was raked from the oven. The work of charging and levelling the coal, bricking and removal of oven opening, quenching and raking out the coke all required manual labour. As these ovens only carbonised a 5 to 7 ton charge of coal per cycle of 4 to 5 days, to produce 3 to 41/2 ton of marketable coke, the labour required per ton of coke was high.

Jan 1, 1975

By Wilson O. A

TABLE OF CONTENTS1. Introductiona. Process Changes since 1939.b. Current Practice.2. Ore Characteristicsa. Copper Minerals.b. Gold Occurrence.3. Treatment of High Grade Acid Orea. The Ore Treatment Planti. Coarse Crushing SectionDust Controlii. The Concentrating MillDesliming SectionGranular GrindingGranular FlotationGranular Flotation ReagentsFlotation MachinesSlime FlotationConcentrate CleaningConcentrate Handlingiii. Scavanging No.1. Mill Granular Tailings at No. 2 MillRegrinding UnitScavenger Flotationb. Pyrite Productioni. Pyrite Flotationii. Pumping of Pyriteiii. Storage of Pyriteiv. Pyrite Loading

Jan 1, 1952

By Baafi EY, MacKenzie -Wood P

An experienced and reliable knowledge of fire fighting procedures is necessary for mine emergency situations. Since experts in this area are scarce the technology of expert systems lends itself as a suitable component in the decision making process. This paper describes an expert system that is being developed for this purpose. The expert system. RESCUE. is a knowledge-based computer programme which incorporates the judgement, experience, rules of thumb. mine environmental conditions as well as human intuitions in the mine rescue operation. RESCUE makes decisions such as whether or not the affected area should be sealed.' whether or not rescuemen should be withdrawn, and which fire fighting agent is most appropriate for the situation. The IF..... THEN rules written in the VP-EXPERT shell contains antecedents and conclusions based on environmental as well as other conditions prevailing in the mine. For example, the CO/Oz deficiency ratio indicates the progress of heating; explosibility trends are given by varying flammable gases C CH4,H2,CO) in relation to oxygen concentration, and barometric pressure falls may affect explosibility by increasing CH4 content in workings. The interaction of such numeric-based rules with others rules reflecting the experience and judgement of the experts assist the system to arrive at its conclusions and subsequent course of action.

Jan 1, 1988

Recovery of Tantalum Capacitors from Waste Printed Circuit Boards Using a Pneumatic Separator

Sep 13, 2010

By M J. Begbie, K B. Sporle

The Golden Cross low sulfidation epithermal deposit produced approximately 750,000 ounces of Au from two ore zones: the underground Empire Vein System and the open pit stockwork. The Empire Vein System has at least eight stages of vein formation: (1) sulfide veins, (2) black veins, (3) massive veins, (4) banded veins, (5) thin white veins, (6) crumbly veins, (7) massive/platy calcite veins, and (8) flattened rhomb calcite veins. Gold mineralisation occurred relatively early in the lifetime of the system, dominantly during 2 through 4. The late calcite veins (7 and 8) and early sulfide veins (1) are barren. The vein system formed in a dominantly extensional environment, though some compressional faulting may have also existed during vein formation. There is no evidence for significant strike-slip faulting during vein formation, highlighting the fact that explorationists should pursue on-site structural patterns rather than fashionable models.

Jan 1, 1998

By G Baird, M Seto

A low-cost methodology that allows the determination of in situ stresses using oriented core specimens has been investigated. The technique can be used to determine the stresses during the early stages of a project, even in undeveloped areas of a mine. The research aim was to compare the experimental results estimated by the Acoustic Emission and Deformation Rate Analysis methods with those estimated by conventional Hollow Inclusion cell measurements. The studies have been focused on full stress tensor determination from a single oriented rock core. In all cases the rock core specimens recollected the in situ stresses reasonably well compared with the standard overcoring method.

Jan 1, 2000

By Ware AR, Doyle BJ, Hoogvliet H

The Ladolam deposit lies within the altered volcanic rocks of the caldera floor, part of which now forms Luise Harbour. It was discovered in 1982 in the course of a reconnaissance drainage sediment sampling programme. This was designed to follow up indications of surface hydrothermal activity noted by Government geologists during an earlier survey of the Tabar-Feni island chain. Diamond drilling began in September 1983 and by the end of 1989 a payable and proved mineable reserve containing 19 million ounces of gold had been established. Rock types and structures are masked at the surface by intense alteration and weathering. An extensive drilling programme has enabled the identification of these features and the relationships between them necessary for an understanding of the factors controlling gold mineralisation. It has also led to the recognition of two distinct phases of alteration. The first phase of porphyry-style potassic alteration was followed by violent caldera formation, producing extensive brecciation and veining. The second alteration phase partly over- printed the first phase and was an epithermal one, evidenced by argillic, advanced argillic and phyllic assemblages. During this event, a large volume of fluids circulated under the favourable structural conditions; these fluids included a sulphur- rich, neutral chloride brine believed to have transported the gold. Boiling and mixing of circulating fluids in the open breccias is thought to have resulted in deposition of the gold. There is evidence that this process is continuing at the present day.

Jan 1, 1991

By T J. Sullivan, H Pinkster, G Swarbrick

From 2002 to 2006, longwall mining was undertaken directly beneath the Cataract Tunnel, which is a 100-year-old, heritage-listed tunnel in Hawkesbury Sandstone responsible for delivering 20 per cent of Sydney’s annual water supply. At one location, undermining resulted in movement of at least 350 mm along a known fault that transects the tunnel. During this movement, the continued operation of the tunnel was ensured through a careful system of planning, monitoring and management.Of key importance to the success of the operation was the use of advanced numerical modelling to guide operations at all levels, including feasibility assessment, pre-mine mitigation works, monitoring design, operation performance and post-mining condition. This allowed many aspects of the potential impacts to be explored, including joint movements, rock mass deformations and changes in permeability. A key challenge was to successfully model near-field influences on adverse geological structure due to very far-field effects. This paper explains the model’s conceptual development, calibration, performance and limitations.Modelling provided the confidence to manage the impacts of large mining-induced movement on key infrastructure and ultimately predicted fault movement accurately. The fault movement remains one of the highest ever recorded due to mine subsidence.CITATION:Swarbrick, G, Sullivan, T J and Pinkster, H, 2014. Longwall mining beneath critical infrastructure – prediction versus performance of the Cataract Tunnel, New South Wales, Australia, in Proceedings AusRock 2014: Third Australasian Ground Control in Mining Conference , pp 157–166 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Nov 5, 2014

By R N. Humphries

The aim of this paper is to question the need to develop bespoke monitoring and assessment methodologies and criteria, thereby ‘reinventing the wheel’, when designing and assessing the success of important natural habitat and ecosystem restoration schemes at mine sites in the UK and Australia. It draws attention to the existence and applicability of the Phase I Habitat, National Vegetation Classification (NVC) and Condition Monitoring methods in the UK and similar approaches used in Australia. These are long accepted established methodologies and have published accounts for describing, assessing and managing natural vegetation communities, habitats and ecosystems. They are often used at the environmental impact stage, but seemingly rarely, if at all, in restoration design and management at mine closure. Their application to mine restoration and closure is illustrated and discussed by reference to a surface coalmine in South Wales, UK.It is concluded that the application of a combination of the Phase I Habitat, NVC and Condition Monitoring methods is highly relevant to the expectations of the Convention on Biological Diversity (CBD) and its implementation in the UK, and probably in Australia too. The methodology and criteria described could be incorporated into the guidance and specified in the mining permits so that there is clarity as to the expectations and requirements for monitoring and assessment for bond release. Their use could be of wider application where there is a requirement to assess the success of restored CBD assets and ecosystems.CITATION:Humphries, R N, 2014. Why reinvent the wheel when there are established methodologies to aid the design and assessment of restored natural ecosystems on mined land?, in Proceedings Life-of-Mine 2014 , pp 675–692 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Jul 16, 2014

By A L. Zawadski, B G. Putland

"This paper discusses a method to build a calibrated comminution circuit model, using historic operating data and blend information that is useful for forecasting and optimising plant performance, as well as evaluating expansion opportunities. A preferred method for building a calibrated power-based comminution model is discussed and justified based on two case studies, offering low-cost and effective strategies to utilise existing information for the maximum possible benefit.The first example is the Lefa Gold Mine located in Guinea, West Africa operating a semi-autogenous grinding (SAG) and ball milling circuit with recycle crushing (SABC). Daily blend information and operating data was utilised to build and calibrate a power-based model of the comminution circuit. The least squares regression method was used to solve the SAG mill specific energy requirement and the operating work index (Wio) for each individual ore type. The calibrated model was used to evaluate expansion strategies to sustain throughput at higher proportions of fresh ore based on the proposed life-of-mine schedule.The second example is the Ok Tedi Copper-Gold Mine in Papua New Guinea operating a SAG and ball milling circuit (SAB). The circuit limitation would often shift between the SAG mill and the ball mill due to variable ore characteristics and feed blend. Typical SAG mill relief strategies, such as recycle crushing or secondary crushing, required significant capital expenditure and the potential throughput benefit would vary depending on ore type, making economic justification difficult. Daily blend information and operating data was used to build and calibrate a power-based model of the comminution circuit to identify ore types that might benefit from higher blast intensities to increase fines content, thus relieving the SAG mill limitation and increasing overall throughput without a major capital investment.Citation:Zawadski, A L and Putland, B G, 2016. Calibrating Comminution Models Using Operating Data to Forecast and Optimise Plant Performance, in Proceedings 13th AusIMM Mill Operators’ Conference 2016, pp 17–26 (The Australasian Institute of Mining and Metallurgy: Melbourne)."

Oct 10, 2016

By I Minniakhmetov, J Ashford

Orebodies constitute naturally occurring, commonly highly variable concentrations of minerals in the earth’s crust formed through varying and highly unpredictable processes. Orebody knowledge is a core foundation of a mining company’s asset base underpinning all decisions about Mineral Resource and Ore Reserves, future production, development and ultimately the profitability and competitiveness of a mining enterprise. The decision to invest in a mineral project is usually based upon a techno-economic evaluation of the project and having clear approval pathways to gain local community support and address social and environmental impacts. The main objective of the techno-economic evaluation is to determine the optimum development sequence for the particular orebody in question and to estimate the economic viability of the project and the future return on investment to its stakeholders, balancing the inherent value of the mineral in the ground against the costs of development and market pricing. With the exception of market-driven commodity prices, virtually all revenue and cost estimates fundamentally stem from the understanding and subsequent modelling of the orebody. A reliable estimate of the ore deposit grade and other geological value-drivers is the foundation upon which the business case for future mine development and operation is intricately dependent. Orebody knowledge is, therefore, the fundamental driver of the mineral project cycle, influencing the progression of studies and consequently, the resource company’s ability to declare Exploration Results, Mineral Resources or Ore Reserves which govern the source and cost of funding available to the project. Drilling provides a ‘vector’ to the true nature of the orebody and effectively buys time to manage the technical risk associated with the orebody. Despite its perceived high cost, in both time and money terms, drilling is the only available technology for acquiring the necessary orebody knowledge to support technical and economic studies and to minimise orebody-driven cash flow uncertainty and volatility. However, like all costs, pressure to minimise drilling budgets is ubiquitous across the minerals industry. Paired with inappropriate key performance indicators, drilling is often regarded as a cost to be minimised, rather than an investment to be optimised. Furthermore, as future deposits get deeper and more complex, the collection of orebody knowledge is increasingly on the critical path for project development. The increasing cost of data collection pertaining to these deposits increases the temptation to minimise orebody knowledge gathering at the cost of long-term value as the reduction or postponement of drilling results in greater orebody knowledge risk at all stages of the value chain. Indeed the true cost of the decision to drill less is rarely known until the mine is in operation, well after the mine project evaluation team has moved on. This paper aims to promote orebody knowledge as the fundamental source of endogenous project financial risk and, consequently, its critical importance in project financial evaluation. Furthermore, the report documents experimental research into the development of an econometric model for valuing orebody knowledge. Using the density of drilling data as a proxy measure of orebody knowledge, the proposed approach integrates well-established stochastic grade modelling techniques with the mathematical mechanics of Decoupled Net Present Value (DNPV) which, combined with stochastic grade modelling (conditional simulation), lends itself to the financial International Mining Geology Conference 2022 | Brisbane, Australia and Online | 22–23 March 2022 3 assessment of orebody knowledge risk. Based on this approach, a metric is formulated, representing the minimum value of the orebody knowledge added by additional drilling

Mar 22, 2022

By A Woodley, A N. Danoucaras

In 2012 the Bureau of Meteorology, under the banner of the Water Accounting Standards Board, released the Australian Water Accounting Standard 1 (AWAS 1). This standard has been in development since 2007 with key milestones being the release of the Preliminary Australian Water Accounting Standard in 2009 and the exposure draft of the Australian Water Accounting Standard in 2010. Throughout this period, the Minerals Council of AustraliaÆs Water Accounting Framework has developed concurrently with the Australian standards and the standards have informed elements of the framework. However, the framework is not identical to the standard as the objectives between the two are different. The objective of the Water Accounting Framework is to create consistency in water reporting of the minerals industry and to assist companies reporting to corporate sustainability initiatives. The objective of AWAS 1 is to provide information to water management bodies to facilitate decisions about the allocation of water resources. Companies are to report on an annual basis - not only physical flows of water but contractual requirements to supply and obtain water - regardless of whether the transaction has been fulfilled in the reporting period. In contrast, the Water Accounting Framework only reports on flows that have physically happened. The paper will provide summary information on aspects of AWAS 1 that are most relevant to the minerals industry, show the alignment and differences between AWAS 1 and the Water Accounting Framework and explain how to obtain the information for the AWAS 1 reporting statements.CITATION:Danoucaras, A N and Woodley, A, 2013. Alignment and differences between the Australian Water Accounting Standard and the Water Accounting Framework for the minerals industry, in Proceedings Water in Mining 2013 , pp 85-90 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Nov 26, 2013