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Financial theory often takes some time to penetrate industry and when it does it can result in a paradigm shift in valuations and mental models. The Black Scholes option valuation was first published in 1973, although the authors were only awarded a Nobel Prize in 1997. The valuation of real options has been applied to the oil and gas industry for some time, however it has only recently been more widely applied to the non-oil, mineral resource sector. The use of real option valuation (ROV) for the valuation of marginal and short mine life resource projects is a more useful valuation tool than the conventional DCF, NPV valuation tool. The application of ROV has major implications for corporate strategy. It generally favours equity over debt funding and non-hedging over hedging. A retrospective assessment of the successful development of the Lennard Shelf Operations demonstrates the concepts of implementing real options and the value destruction of limiting operational flexibility through debt and hedging activities.

Jan 1, 2003

By M Harris, C Goodall, B Knopjes

The objective of this work was to investigate the effect of milling and flotation circuit configuration on flotation performance of platinum-bearing ore from the UG2 reef of the Bushveld Igneous Complex in South Africa. Pilot plant trials were conducted at Lonmin Platinum using a highly automated pilot plant (a floatability characterisation test rig or FCTR), with a pilot ball mill, a stirred media detritor and an ISA mill. Different milling and flotation configurations were tested, without changing the overall grind size distribution or flotation residence time from one circuit to the next. Results from the pilot plant tests indicate that staged grinding, with intermediate flotation stages, can achieve significant performance benefits in comparison to a single grind-float circuit, for an equivalent overall grind and flotation residence time. These findings are explored qualitatively, in terms of the recovery and transportation of fast, slow and non-floating platinum-bearing particles through the various milling and flotation stages, and an optimum strategy for the separation of this type of ore is explored and discussed.

Jan 1, 2005

By V Kainulainen

Sandvik Tamrock Corp has developed an underground rock flow simulation tool OPTIMINEÖ which is a direct simulation tool for matching suitable technology in rock material flow for underground mine layouts and production requirements. The tool gives the possibility of determining intersections, limitations and critical points in the layout and working procedures at an early stage of a new mine/mining area planning process. The tool combines the supplier machine knowledge with operational know-how and mine environment. It can be used for identifying the effect of an individual incident such as the effect of one additional turn in a continuous loading cycle to the daily capacity. This paper discusses the way the OPTIMINEÖ simulation tool operates, the benefits and restrictions, and reviews how it simulates some example cases and how the mines benefit from the tool in maximising the performance and optimising the mobile fleet, scheduling work and fine-tuning the layout.

Jan 1, 2000

By Mirabediny H, Whitchurch K

A computerised simulation model has been developed to select the most suitable digging method of a dragline operation for a given geological condition. The developed procedure uses a geological ore body model as the basis for the geologic database. The simulation selects the most cost effective dragline digging method from a database of various dragline digging methods The database consists of common and innovative dragline methods currently used in Australian open cut mines. A generalised computer package, DSLX, was extensively used to simulate various dragline digging methods. The DSLX software uses predefined functions to build strip geometry, working benches, blast profiles and spoil piles. The outputs from DSLX in form of volumetric, swing angles and hoist distances data are then aggregated with dragline specifications and site time study data to compare productivity of selected digging methods. The result of a case study showed that this procedure lends itself to the 'optimum' selection a dragline digging method for a given coal deposit.

Jan 1, 1995

By B Sno, P A. Cockburn, R C. West, C U. Jones

Clyde Materials Handling (CMH) and WorleyParsons have developed a concept for a flash furnace feed system using the specialist pneumatic conveying equipment expertise of CMH and the flash furnace process experience of WorleyParsons. CMH has developed a proprietary volumetric feeder (called a Rotofeed), which is extremely accurate and overcomes many of the problems inherent with loss-in-weight screw feeders and drag chain conveyors, previously regarded as state-of-the-art. Initial indications are that the Clyde-WorleyParsons feed system could deliver the following benefits to flash furnace operation: accurate pulseless delivery of feed material to the head of the burner leading to improved combustion performance and process stability; highly accurate split to the individual quadrants of a conventional burner tube, or provision of a smooth hollow curtain to a burner without guide vanes; decreased pressure pulsation in the furnace due to improved combustion control and performance; and decreased temperature fluctuations in the furnace due to improved combustion characteristics and hence reductions in refractory thermal stress and wear.

Jan 1, 2005

Plant growth is likely to prove the most suitable and satisfactory material to stabilise and cover quarry faces and worked-out surface mining sites. The careful selection of plant species is of paramount importance to the success of any attempts to re- vegetate these sites. Various tech- niques are recommended and attention is drawn to different factors,which will adversely affect plant growth.

Jan 1, 1976

Technological advances evolve in different ways; many are the result of years of application of scientific method. i.e. Observation Deduction Hypothesis Proof In the mining industry, better explosives, drill bits or reagents are likely to evolve in this way. The scientific method is suited to the application of conventional management structures. Other advances are simply the result of a "brainstorm", or building a better mousetrap. Such inspiration probably resulted in "Split Set" rock bolts, or the first use of a vacuum cleaner principle for shaft mucking. Individual consultants can apply lateral thinking to generate such inspiration. In gathering material for the presentation of this paper, I sent a.letter to all members of the Mineral Industry Consultants Association asking them to nominate problems in the industry requiring investigation. The answers have been divided into two classifications - contract research underway and identified problems requiring solutions.

Jan 1, 1986

By Craw D

Quaternary warping and uplift of antiformal schist ranges in Central Otago, New Zealand, has resulted in recycling of alluvial gold from widespread, generally weakly auriferous, Miocene fluvial gravels that unconformably overlie the schist, into aprons of fan sediments along the range margins. Basement erosion during uplift has been limited and so gold input from sparse gold-bearing quartz veins in the schist has been relatively minor. In an eluvial cycle on the slopes of the ranges, chemical remobilization of gold occurs during oxidation and erosion of the Miocene sediments. The typically fine-grained (300-400¦m) gold undergoes chemical modification and grain size enhancement of up to two orders of magnitude, and much of it is redeposited in a large number of relatively small alluvial fans along the range margins. Groundwater mobility within the fans results in minor additional gold mobility and grain size Enhancement.

Jan 1, 1995

Part of a four-year course in metallurgy, dealing with metallurgical process engineering, was designed for students to acquire knowledge and skill from physical science, metallurgy, process engineering, and social science. Principles of education, and guidelines obtained from a study of professional practice, indicated that students may learn effectively through a planned sequence of problem-solving exercises based on the diverse functions of metallurgists in industry. The more important characteristics of the curriculum and a few illustrations of the problems are included. An outline is given of the current procedures used to develop parts of the curriculum, and of the students' diffic- ulties and achievements.

Jan 1, 1984

The proximity of the Town of Kalgoorlie to the Mount Charlotte mine necessitates that charge weight per delay be limited in order to keep surface vibration levels within acceptable limits and to reduce damage to underground workings. The mining system requires that large mass blasts must be used to recover pillars and therefore a large number of separate delays are needed. Until recently all blasting has been done electrically, fired from mains, but with the introduction of large diameter blastholes (165mm diameter) this firing system was inadequate. Various firing systems were considered, but after extensive trials a non-electric sequential firing system was chosen. This system fulfilled all criteria of blast design, was relatively straight forward in charging technique and had a very simple primary initiation system. Although initially designed for large mass blasts, the non-electric firing system is now used for all large hole blasting and in a simpler form for small (57mn diameter) holes.

Jan 1, 1982

By L Strezov, J Herbertson

Conversion of industrial waste materials to valuable resources would essentially take part in an ecologically sustainable future. There are still large amounts of undervalued biomass wastes generated from a diverse range of industries that are disposed in landfields. They have potential to produce valuable materials and fuels, such as charcoal, bio-oils and bio-gas through thermal upgrading. In order to enhance the efficiency of the thermal upgrading process, comprehensive characterisation of the raw biomass materials is essential. We have developed a novel thermal characterisation method that utilises computer aided thermal analysis incorporated with a gas analyser. The method was applied on two biomass materials, wood sawdust and bagasse. The paper discusses the results obtained with the novel thermal characterisation technique.

Jan 1, 2006

Traditionally mill operators have been employed with varying educational backgrounds with little if any formal training in aspects of mineral processing. Pasminco Mining-Rosebery, in line with other organisations, saw the need for a prerequisite entry level for operators to enter the industry. After initial discussions between various West Coast Mines personnel, union and government representatives, an industry working group was formed in 1989 with the aim of developing a traineeship suitable for the mineral processing industry. Training and technical representatives from four of the West Coast Mines and TAFE were commissioned with the curriculum development. The resultant course, which is recognised under the Australian Traineeship system, involved an integrated on and off-the-job training program, including 13 weeks of formal off-the-job instruction.

Jan 1, 1991

Immigration has influenced Australia's development more than any other factor. As well as being critical to our economic growth and development, it has made a major contrib- ution to our population growth, to the richness and diversity of our society and to our inter- national relations. Migration from the United Kingdom has been the mainstay of our settler intake for many years, but its relative importance has declined in recent decades. Non-British European migration formed an important part of our post-war intake and, in the past few years, migration from Asia has reached significant levels - particularly through our resettlement of Indo-Chinese refugees. In planning our future immigration, it is important to look beyond short term direct economic consequences. Australia has looked to its resources for progress, but Japan, Korea, Taiwan and Singapore have achieved dramatic economic progress without resources, based on the will and dynamism of their societies. Immigration can contribute greatly to the development of a dynamic, outward looking Australian society able to make the most of our great resource potential.

Jan 1, 1982

By K Ellis, K Quast, R Newell

The use of ammonia as a leaching agent in the recovery of copper from ores and concentrates has a number of potential benefits. These include the ability to treat ores with an acid consuming gangue, non-corrosivity, the insolubility of iron in the solution and increased selectivity. This paper reviews the previous and current use of ammonia based leaching systems for copper recovery and presents the results of a laboratory investigation that involved leaching of a copper concentrate and a low-grade ore. The effects of the operating variables (particle size, oxygen addition, agitation and temperature) are discussed. Of these, the particle size had the greatest effect, with decreasing size giving improved leaching rates and recoveries. The possibility of using ammonium salts in heap leaching is also discussed, and the results of some small-scale column leach tests presented. Possible methods for recovering the copper from the leach solution are outlined, and the types of ores and concentrates for which ammonia leaching may prove to be a viable alternative processing route are discussed.

Jan 1, 2000

By P McCarthy

Despite significant advances in the platform technologies that could form part of a system of mine automation, the goal of full automation in most underground mining applications remains distant. This is because the industry developed these platform technologies to achieve local improvements in safety, machine and labour productivity, and asset utilisation, rather than to work towards a goal of a complete system of automation for general application in underground mines. This paper reviews the history and current state of automation in the underground mining industry and uses lessons learnt from the automobile and general manufacturing industries to gain insight into the opportunities and pitfalls in the complex and uncertain path to automation of underground mines. It also evaluates the relevance of the current drivers of interest in the industry. From this, we hope to engender an attainable vision of automation in underground mining and determine the best development path, process and timeline to achieve this vision.

Jan 1, 2008

Hydrometallurgy has a history of over 300 years with copper leaching and cementation having been exploited in Spain as far back as 1670. Since then, hydrometallurgy has become an integral, expanding branch of extractive metallurgy. This paper reviews major developments in hydrometallurgy over the past century with emphasis on recent commercial developments and their impact on the mining and metals industries. The environment in which these developments has taken place has changed significantly in the past two decades and many factors, often non-technical, have emerged as constraints on the operation of existing plants and the expansion and development of new hydrometallurgical operations. Finally, a number of possible new developments that will shape the future of hydrometallurgy in the new millennium are discussed, particularly as they relate to the assimilation of technical advances in other areas of science and engineering. The impact of current trends in the education of hydrometallurgists and the provision of research in support of these future developments is also addressed.

Jan 1, 2000

The long term viability of a mining company is dependent on the success of its capital investments. Due to the specialised nature of the design, engineering and construction of large projects the management is often contracted to an outside organisation. This paper is a review of the phases of the relationship between Client and Contractor. A rationale is developed upon which the selection of a Contractor can be made. Subsequently, the key aspects of the Client/Contractor relationship are reviewed with reference to completing the project on time within budget. The aspects discussed include Contractor management systems, qualifications of key personnel, definition of scope of work, industrial relations, project control and Contractor remuneration.

Jan 1, 1983

The Snap Lake Phase I project initiated a subsampling campaign on the material (kimberlite/metavolcanic/granite) mined and treated for diamonds. The campaign was aimed at determining the optimum subsampling program to subsample the feed to the bulk sample plant (BSP) for the duration of a sampling campaign. This paper describes the application of GyÆs formula for determining the subsample size and other good sampling practices to determine this subsampling campaign. Three main issues are discussed: the use of a hammer sampler to sample off a moving conveyor and the practical experiment to determine the optimum subsampling program; bias introduced by laboratory equipment including two sizes rotary splitters; and variability of the feed material to the BSP over time.

Jan 1, 2005

By Kellerwessei H, Oberheuser G

A major breakthrough in extending the life of the wear material of high pressure roll crushers when treating moist, highly abrasive material has removed the last impediment to the widespread acceptance of high pressure comminution in the minerals industry. The system is very energy efficient. It has been demonstrated that in the cement industry energy savings of up to 50 per cent have been achieved compared to conventional hall milling. Besides being energy efficient, the process provides some remarkable and useful effects; ò better liberation of mineral constituents (as proven for diamond liberation). ò preferential comminution where induced micro fissures follow grain boundaries. ò higher reactivity of the product due to micro fissures. All these points will be described here together with a review of current flowsheet design and incentives for the use of this method of Comminution.

Jan 1, 1993

By Rosengren KJ

Geotechnical conditions often have a critical influence on the design of new open pit and underground mines, but they are often considered of secondary importance in relation to other factors, such as detailed geology, orebody geometry and grade distribution. As a result, geotechnical studies may not be carried out during early project investigations or, at best, may be given only superficial attention, often to the overall detriment of the project. Technically and economically, it is logical that geotechnical studies should be integrated with geological investigations as soon as it becomes evident that the particular deposit may prove to be economic. The paper discusses the use of geotechnical information in the selection of mining methods and mine design for underground mines and for wall design and assessment of excavation characteristics in open pit mines. It then considers methods of obtaining the relevant data, with particular reference to exploration boreholes. Selected case studies on the application of geotechnical data to mine design are Included.

Jan 1, 1986