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Depending upon the probability one assigns to project go-ahead, up to $10 billion (1978 figures) could be required for resource based projects in Australia in the next decade. In the past major resource projects were readily financeable against sales contracts. In the future the complexities imposed by such matters as political risk, inflation, currency movements and environmental and other socio- economic considerations on project development costs and returns may require a different approach. This paper addresses itself to the ramifications of providing development finance for resource based projects in the future - and in particular examines such factors as project completion guarantees, sales contracts, protection against exchange rate fluctuations, interest rate structures and debt/equity ratios as each relates to the provision of finance. TABLE OF CONTENTS SECTION 1 : Introduction SECTION 2 Factors Affecting Project Financing in the Next Decade SECTION 3 Some Aspects of Financing New Projects in Australia in the 1980's Conclusion

Jan 1, 1979

By D Timms

The Kempfield deposit is located in the Hill End Trough, one of several intracratonic basins developed during Silurian–Devonian time, in the eastern province of the Lachlan Orogen, Eastern Australia.The deposit contains an oxide resource of 5.8 Mt @ 58 g/t Ag and a sulfide resource of 14.4 Mt @ 45 g/t Ag, 1.7 per cent Zn and 0.6 per cent Pb, classified and reported in compliance with the JORC Code. The deposit has been previously explored by a number of companies, including INCO, Shell, Jones Mining, Golden Cross Resources and recently Argent Minerals Ltd (Argent). Argent is currently completing a definitive feasibility study with a view to mining the deposit.The deposit is hosted at the boundary between the Molong High to the west, comprising Ordovician sediments and volcanic rocks and the Hill End Trough to the east, interpreted as a back-arc basin containing Silurian sediments and siliceous-feldspathic volcanic rocks. The boundary between these two strato tectonic units is an imbricate thrust fault zone known as the Copperhannia Thrust.The Kempfield deposit is hosted in felsic volcanic rocks known as the Kangaloolah Volcanics. These have been in-faulted and folded into the Middle Ordovician meta-sediments of the Coombing Formation of metasediments along the Copperhannia Thrust. The Kangaloolah Volcanics belong to the Late Silurian Mumbil Group, comprising submarine carbonate-shale facies interspersed with extensive felsic volcanic piles, which grade conformably upwards into turbiditic sandstone and siltstone sequences (interpreted to represent a deeper depositional environment). These turbiditic rocks are known as the Campbells Formation, comprising siltstone, sandstone and andesitic tuff. The rocks at Kempfield are metamorphosed to lower greenschist facies, reflected through the different type of schists.Silver, gold, lead, zinc mineralisation is hosted in barite-rich horizons, near the boundary to quartz-phyric tuffaceous rocks in submarine, immature, reworked felsic ash tuffs. Barite appears to be hosted in greatest concentrations by the coarser grained volcanoclastic sandstones and grits, whilst intercalated siltstones are volumetrically minor and tend to return low barite and silver. Mineralisation is hosted in stratiform and probably stratabound barite-rich horizons. A northeast-trending, steeply dipping, metamorphic cleavage (S1) occurs throughout the project area.

Aug 22, 2011

By C Philander

The West Coast of South Africa is well known for its placer gem quality diamond deposits and also associated with these hosts of Cenozoic unconsolidated marine and aeolian sand and gravel are significant concentrations of heavy minerals. Exploration for economic concentrations of zircon, ilmenite and rutile along the coast started in the mid-1980s. This resulted in the discovery of an inferred 1.6 billion tonne resource with a grade of ten per cent total heavy minerals (THM), which developed into the Namakwa Sands Mine, a world-class producer of heavy minerals. Several other resources, including satellite deposits proximal and distal to the mine area, extensive diamond mine dumps and present day beach placers, demonstrate the vast heavy mineral potential along the West Coast. The favourable gangue to economic mineral ratio, a higher zircon content compared to other similar deposits, relatively lower U+TH content of zircon, low slimes content and effectively pristine low chromium-manganese ilmenite of these deposits, render them attractive exploration targets. Negative factors that will affect conventional mineral beneficiation and liberation include secondary mineral coatings and the regional coastal development of several layers of superimposed duricrust. The economically attractive heavy mineral assemblage along the West Coast is the result of erosion of the proximal, gneissic Namaqualand Metamorphic Province and mature Table Mountain Group sandstone, concentration by marine and aeolian processes and preservation under arid climatological conditions over a period of more than 100 Ma.

Jan 1, 2008

By C E. Loayza, R M. Pinto, J G. G=mez

The Yanacocha District is located 20 km north of the city of Cajamarca, in the Northern Andean Orogenic belt of northern Peru.Gold production may have occurred as early as Incan times (Paverd, 2000), but modern exploration that began in the 1960s targeted only copper and silver. Newmont Mining Corporation, BRGM and Compa±fa de Minas Buenaventura began exploring for gold in 1983, with Newmont as operator.Initial drilling took place in 1985. By 1992 a reserve of 1.28 million ounces was reported (Teal et al, 2002).Production began at the Carachugo deposit in 1993.Current reserves are 31.7 million ounces at $US 325 per ounce at a grade of 1.03 ppm (Newmont Annual Report, 2003).The operating company, Mineral Yanacocha SRL (Newmont 51 per cent, Buenaventura 44 per cent and International Finance Corporation five per cent) produced 2.85 million ounces in 2003, making Yanacocha one of the largest gold mining operations in the world. The district is made up of a series of epithermal, high sulfidation style gold deposits and one gold-rich gravel deposit (La Quinua), aligned in a NE trend.La Quinua is not discussed in detail in this paper. The bedrock deposits are hosted in a Miocene volcanic package, the Yanacocha Volcanic Complex that also trends NE.Re gional NW striking Andean faults intersect the NE striking Trans-Andean Chicama-Yanacocha structural corridor (Turner, 1997), localising the district mineralisation. These two structural orientations dominate the district, controlling breccia and intrusion locations, and gold mineralisation. Discontinuous EW oriented fracture zones are interpreted as extensional and locally are important in controlling gold mineralisation.

Jan 1, 2004

Iron from the blast furnace constitutes the starting point in steel production and any increase that can be made in iron production will bring about important repercussions in a long line of processes. Coke constitutes a major item in furnace operation and consumption at the Port Kembla Works of Australian Iron & Steel Ltd. has been approximately 1,850 lb. per ton of iron produced on ore practice, or 3,000 tons per day.For many years coke quality has been subject to much criticism by furnace operators throughout the world, sometimes with little real grounds. Whatever the merits of previous arguments, and they were no doubt two-sided, the development of bigger furnaces has focused attention on coke strength. At the same time a decrease in the quantity of good quality coking coals available to many plants has stimulated research in this field.Extensive coke research has been carried out overseas, and in Australia the.B.H.P. Organization is now actively doing likewise in its Central Research Laboratories at Shortland near Newcastle, N.S.W., and works research groups at Newcastle and Port Kembla Steelworks. Similar work has been initiated in the beehive coking industry. Such work is in its infancy and this paper will outline the direction of the activities at Port Kembla rather than propound specific solutions.At Port Kembla good quality coking coals are readily available from the IIIawarra coalfield. The seams generally mined for coking are Bulli and Wongawilli and to a much smaller extent Tongarra. Characteristics of these coals appear in Table 1.

Jan 1, 1958

Until early-1997, Mount Isa Mines Limited (MIM) generated electrical power for most of north-west Queensland. The discoveries of many new orebodies in the region meant the inevitable increase in power generation requirements for the new mines. In addition, the expansion at Mount Isa itself meant that MIM had to invest in new generating capacity or utilise the existing generating plant more effectively. Using its generating plant more effectively required MIM to undertake rigorous energy management within its own operations. A personal computer based system with a wide area network was installed as the basis for energy management. The result was that energy consumption was reduced, the need for additional generating plant was curtailed, and capital outlay for the generating plant that was required was delayed. As a direct result of energy management, carbon dioxide emissions were reduced substantially.

Jan 1, 1998

By M J. Ireland, D P. Horne, S J. Simpson

The Sinclair Nickel Project, wholly owned by Xstrata Nickel Australasia (XNA), includes an underground mine, a concentrator, a village, an all-weather airstrip and associated mine infrastructure. The operation is located 70 km north of Leonora in the prospective and historically productive eastern Goldfields region of Western Australia. Xstrata Nickel has successfully developed the Sinclair deposit into a 350 kt/a operation since its discovery in November 2005, with contained nickel metal production to date in excess of 10 600 t, of which 5500 t is from the underground operation.The narrow, continuous, medium-grade Sinclair nickel sulfide deposit accessed by the Phoenix Decline has a shallow 15¦ - 20¦ plunge that is approximately 1000 m long down dip and open at depth to the north. The flat plunge and low-grade nature of the orebody presents challenges regarding the amount of horizontal waste development that can be economically excavated, which in turn affects ventilation, egress, mine services and diamond drilling.The mineralisation is hosted between an ultra mafic hanging wall and a basalt footwall and is being mined using a bottom up, sublevel open stoping method. The stopes are retreated to a central access, filling voids in the process with waste mullock where possible and using cemented mullock fill where end exposure is required. Tight filling the flat dipping hanging wall has proved to be challenging given the angle of repose for the waste mullock fill is steeper than the angle of the hanging wall.Reconciliations of mine performance against the original feasibility study show positive changes and operational optimisations enabling Sinclair to achieve its mining targets in a safe, sustainable and economic manner. This paper discusses the mining operations associated with the first two years of the Sinclair Underground Nickel Project, providing an overview of the various issues encountered and the lessons learnt in the process.CITATION:Ireland, M J, Horne, D P and Simpson, S J, 2012. Overcoming mine design and production challenges at the Sinclair underground nickel project, in Proceedings Narrow Vein Mining 2012 , pp 37-48 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Mar 26, 2012

By Warren L. J

In the mineral processing industry solid-liquid separation within a thickener usually requires the addition of a synthetic flocculant to enhance the settling rate of fine particles. The characteristics of the resulting flocculated suspensions may vary considerably depending upon the physical and chemical conditions which prevail during the flocculation process. For example, parameters such as flocculant type, dosage and solution concentration, surface chemical characteristics of particles and the suspension agitation conditions can influence the degree to which the particles aggregate. Aggregated suspensions exhibit various structures, and range from those composed of small, dense aggregates to those containing large, voluminous aggregates. The size distribution and structural type of the aggregates which form within the feed-well of a thickener can have a dramatic effect upon overall thickener performance. Thickener performance cannot be optimized without optimization of the aggregate structure produced in the feed by synthetic flocculant addition. This has required the development of new techniques to quantify the nature of aggregated suspensions, details of which are presented in this paper.

Jan 1, 1989

By Wong PLM, Hsu YJ, Nguyen HH

The treatment of copper-gold ores has been plagued by several problems because of the interaction of copper minerals with the cyanide leach solution and the dissolved gold cyanide. Apart from the higher consumption of cyanide caused by the dissolution of various reactive copper minerals such as azurite, malachite, chalcocite, cuprite and bornite, native copper also causes the loss of gold due to its cementation reaction with the soluble gold cyanide. This interaction however is complicated by the strong dependence of various copper-cyanide species on the solution pH and free cyanide concentration.By understanding the effect of various operating conditions (pH and cyanide concentration), several treatment processes could be implemented to minimise the copper-gold interaction and to separate copper from mixed copper-gold cyanide solutions.

Jan 1, 1997

By Hale C. T, Carnie W. A

Rosebery mine has had over 100 years of mining activity. The reserve has remained static for the last eight years with an expected mine life of six years. A move to rectify this was made in 1994 with the birth of the Deep Exploration Project (DEP). $45 M was committed to drill 100 km of underground exploration diamond drilling and develop 5.5 kin of decline aiming to add 9.5 Mt to the reserves and minimise lead time for development of P and K lenses discovered in the early-1990s. In 1996 this aim was expanded with the objective to build the resource base to 20 Mt by June 2000 allowing the mill to operate at 1.0 Mtpa (0.9 Mt from underground). Preliminary results of the project to-date are outlined and exploration diamond drilling techniques and strategies are described.

Jan 1, 1997

By A S. Bamber

Mining is the oldest industrial practice on the planet with a history dating back over 3000 years. Since the early iron age ores have been extracted for use in a variety of contexts by humankind, from domestic to military, transport and more recently for complex industrial applications. Mineral exploration and extraction has evolved from the early exploitation of primary metal occurrences in relatively small quantities such as iron, gold, coal and copper, to the bulk mining and extraction of highly complex polymetallic oxides and sulfides today. Since the industrial revolution, mining practice has evolved substantially to support an increasing range and quantity of required metals and to accommodate the increasing scarcity of high-quality sources of these metals. A common response to the increasing scarcity of mineral resources has been to expand production through simple economies of scale, thus diluting fixed costs. This approach, however, is increasingly ineffective in the face of current trends, that include increasingly complex mineralogy, increasing pressure on environmental footprint - energy in particular, and increasing scarcity of capital for the construction of presently popular æmega-minesÆ. This paper examines historical trends and current practice in mineral exploitation in the light of the current global revolution in social, environmental and economic values as the projects move towards a vastly different topology for the industry for continued success in years to come.CITATION:Bamber, A S, 2012. The mining industry needs to be shaken and stirred, in Proceedings Narrow Vein Mining 2012 , pp 3-14 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Mar 26, 2012

By J Borthwick, M Yusi, M Douge

Feasibility studies form a vital and significant component of the project delivery cycle. They are at the heart of the valuation process. This paper focuses on variables which can affect a project and how these are assessed as part of the decision-making process through feasibility studies. Test work and site selection needs; the degree of engineering required to meet the study requirements and the quality of owner project information are discussed. Also, local factors including permitting needs, social, environmental and government relations are considered. Engineering and site factors are crucial in the estimating process. The interaction of detailed engineering, engineering assumptions and estimating methodologies are therefore examined. The ownerÆs perspective is considered along with risk analysis, which is fundamental in project feasibility study activities. The impact of this is also discussed.

Jan 1, 2009

By E Broers, J Goh, S Davies

With recovery being important in optimising the business performance of a laterite and sulfide plant and with water being a precious resource in Australia, there has been increased pressure for companies to improve their methods of improving liquor recovery and improving water recovery in both laterite and sulfide plants. This has resulted in new control technologies such as the Manta Cube being applied on countercurrent decantation (CCD) and thickening circuits which is necessary to improve stability and optimise the liquor and water recovery in these processing plants. This paper describes the benefit of applying these new control techniques on CCD and thickening circuits in some of the mineral processing plants in Australia.

Jan 1, 2009

By Tiu C, Sarmiento G, Uhlherr PHT

Fundamental rheological properties of slowly settling mineral slurries are reviewed. Slurry flow is discussed in terms of observed shear stress-shear rate behaviour. Particular emphasis is placed on establishing procedures for scale-up and design. Flow property measure- ments on red mud, a waste product from the Bayer alumina process, are presented and used to illustrate recommended design procedures.

Jan 1, 1978

For various reasons, the maintenance of shaft structures is becoming an increasingly important factor in the operation of underground mines. Deterioration mechanisms related to operation of the shaft are identified as corrosion, mechanical damage, fatigue damage and wear. Deterioration mechanisms related to rock movements are identified as vertical strain, ride vertical closure and squeezing. Analytical procedures for assessing this deterioration are discussed, and it is shown how acceptance criteria are developed and implemented. In order to track the deterioration of shaft structures, shaft inspections are undertaken, but the information is often not well documented. Formalised procedures for capturing and recording information, and then processing the information are presented. Finally, two case studies are briefly described to illustrate how these procedures have been implemented in practice, and what benefit has accrued to the mines concerned.

Jan 1, 2005

This study examines the application of Landsat TM data to the identification of hydro- thermal alteration in the arid terrain of the El Salvador region of north Chile. Numerical reflectance values were extracted from the digital Landsat TM data for a variety of rock surfaces, including four parts of the El Salvador gossan, for each of six spectral bands. These reflectance values were analysed statistically in order to select the three spectral bands, combined as a colour composite image, that are most efficient in discriminating different varieties of alteration and for general geolog- ical interpretation. The most cost effective com- posite image for this area is a combination of bands 1,4 and 7 as the blue, green and red components respectively, with simple contrast enhancement. This image is superior to some much more expensive enhancement techniques and allows unambiguous identification of areas of hydrothermal alteration larger than about 50m. The display includes a practical guide to the use of Landsat TM imagery for volcanic gold Exploration.

Jan 1, 1987

The curbing of expansion in tertiary level education in Australia and the question- ing of its objectives which are now occurring are likely to have important effects on mining and metallurgical education. Student enrol- ments are low but the serious shortage of specialised minerals industry graduates pre- dicted during the boom of the late 60's has not eventuated. Other manning problems of a less quantitative but possibly equally import- ant kind have been identified. They point to a need for a full and deep review of the education and training programmes available to Australian graduates planning to enter product- ion areas of the minerals industry. An alter- native educational structure providing greater flexibility is suggested.

Jan 1, 1977

During the 1950's there was a flurry of activity on the design of main ventilation shafts for mines. More recently, a new ana- lysis was commissioned in relation to the multi-shaft, nuclear waste isolation facili- ties currently under design in the United States. This paper presents the major find- ings of that study and should prove of value as a reference in the design of proposed new shafts. An overview of mine shaft resistance introduces the effects of the shaft walls, fittings, conveyances and shaft stations. Each of these is analyzed in turn. A com- pletely new technique is described, which facilitates the estimation of wall resis- tance. The effect of size of a conveyance is quantified and shown to be dominant when the cage occupies more than 30 per cent of the shaft cross-section. The dynamic effects of a moving conveyance are also analyzed.

Jan 1, 1988

By P D. Munro

The spatial distribution of ore with similar processing properties or domains within an orebody may be identified early in the assessment of an orebody to provide a sound basis for later development of the orebody. The assignment of domains in the primary sulfide portion of an orebody is often more difficult than recognition of the oxidised, supergene and related domains usually located towards the top of the mineralised volume. This paper will discuss some approaches to assigning domains within the primary sulfide portion of an orebody. The processing properties of each mining block will be known if the contained domain(s) and their proportions are known. The use of both physical and chemical ore properties to assign the domains is discussed. The domains based on similar processing properties do not necessarily coincide with geological zones assigned by geoscientists. As part of assessing the physical properties of ore, the modal analysis of the ore with respect to the valuable sulfide minerals and the sulfide and non sulfide gangue minerals has to be known, along with the traditionally used elemental assays for valuable and penalty elements. Two scales for determining other physical ore properties will be considered: the mesoscopic scale (examined by human eye) and the microscopic scale (examined via a microscope under high magnification). The strengths and weaknesses of the data obtained at the two scales are discussed in the paper. Broadly, data collected at the mesoscopic scale are much less expensive but the types of data available are more limited. Methods for evaluation of chemical ore properties are also discussed. After establishing a basis for establishing the spatial distribution of domains, variability testing is required to verify the integrity of the designated domains. In contrast, each block of ore in some orebodies has been assessed principally via the results of a laboratory separation on a number of drill core samples or composites from throughout the block, with minimal or no attention to the concept of domains.

Jan 1, 2008

By Clifford C. E

The Black Star and Racecourse orebodies below 15 level contain a major portion of the primary silver-lead-zinc ore reserves of 56 million tonnes at 150 g/t Ag, 6.4% Pb and 6.5% Zn at Isa Mine. Extraction from this area is scheduled to begin in the early 1980's. Mining in this block will be quite com- plicated as the ore is contained in a dozen separate orebodies varying in width from 3 m to 20 m with only narrow barren pillars between them in some cases. Mining objectives which consider metal recovery, costs, environmental and safety factors, operating requirements and rock mechanics are used to compare proposals. The planning work involved in formulating mining proposals considers disposition of reserves, scheduling factors, sequence of extraction, extraction methods, haulage set-up and ventilation requirements.

Jan 1, 1979