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Criteria for the manipulation of commodity markets are discussed. Against the economic background of the past twenty five years actual attempts to manipulate markets are evaluated.

Jan 1, 1985

The seemingly insatiable world demand for mineral and energy products is continuously pushing out the frontiers of exploration and development in countries around the Pacific Rim.

Jan 1, 1990

The first 12 m diameter rakeless thickener in the Australian gold mining industry was installed to treat plant tailings at the St Ives gold plant in April 2000. The plant processes approximately 3.2 M tonnes of ore producing about 430 000 oz of gold per annum using conventional crushing, grinding, gravity and carbon in pulp processing methods.The main benefit sought from the thickener was to improve water recovery in the plant and provide water for a 55 000 oz per annum heap leach operation. The thickener design indicated that more than 128 m3/h of overflow water could be returned directly into the plantÆs water circuit, relieving the demand on the borefields. The resultant surplus in the water circuit would then be available for the heap leach project. Based on laboratory and pilot plant scale tests conducted by EIMCO the thickener was designed to handle up to 700 m3/h of tailings slurry (450 tph of solids) with a 40 per cent oxide component in the ore blend. The normal plant throughput is 565 m3/h of slurry (400 tph of solids). Gold mineralisation in most areas at St Ives comprises quartz-sulphide vein and breccia lodes with common albite-biotite-chlorite alteration assemblages. There are well developed supergene gold horizons in the clay-oxide profile above most of the deposits (Osborne, 2002). This results in a wide variety of ore types being treated. At times 40 - 50 per cent of the ore may be oxide in nature. After some commissioning difficulties associated with instrumentation, the thickener has performed satisfactorily although it has not reached its design capacity. The maximum density achieved under normal operating conditions with 20 per cent oxide ore is about two per cent below the design. The thickenerÆs performance deteriorates further with increasing amounts of oxide ore in the blend. The thickener has provided sufficient water for the successful operation of the heap leach and has also provided some down stream benefits for the gold plant by way of pH and cyanide conditioned thickener overflow water.

Jan 1, 2002

It is indeed a pleasure to be here this morning to open the 4th Mill Operators' Conference. It is no mean feat to organise such an event and I would like to congratulate the committee for the work that they have done. I am sure that the Conference will be an outstanding success. I welcome overseas visitors and hope that they gain and share in the openness of this Conference. There is personal satisfaction for me to speak to you as a mining engineer addressing a large group of metallurgists and mill operators. I would have thought that it would be impossible for a mere mining engineer to inform a metallurgist of anything. I will desist from using such derogatory terms as "xanthate munchers", "bubble makers" and "glorified mathematicians". Terms of endearment as these may not be seen with much equanimity. Such is the warm association that the two professions have enjoyed over the years. The economic climate that we at present face is a major problem to all of us. I wonder how many people here come from mining operations that are in trouble financially or that are cutting back in one form or another. This is the recession that we needed to have. When the world's greatest treasurer can tell us that then we truly have a lot to fear. The present downturn can be seen as a normal adjustment in the cycle of our business. Yet the world does not experience such severe adjustments as frequently as we experience ours. The root cause for the regular adjustments can be placed at the feet of inflation. Until the politicians of this country of ours can come to grips with inflation, we will continue to experience downturns on a 5 to 7 year cycle. This, in my opinion, is the basic reason why we appear to experience more downturns than the rest of the world. We simply price ourselves out of the market. This takes about 5 to 7 years to be highlighted and then we need to make adjustments. However, this recession is worldwide. The adjustments usually take the form of redundancies, retrenchments and early retirements. What is the solution?

Jan 1, 1991

Equity finance provides the most suitable and frequently the only access to capital during the exploration and evaluation stages of resource projects when project risk is at its highest. Investors are prepared to provide equity funds in the knowledge that they are compensated for the higher risk they take on with higher potential returns or sufficient upside potential to justify the higher risk. The context of resource projects which determines the role of equity finance has changed considerably. Prior to the resurgence of the gold price and the development of new mining technology many resource projects were selectively mining orebodies by underground methods frequently with limited reserves proved up in advance of mining. The limited proved ore reserves base and the volatility of the gold price all contributed to a higher risk and higher return investment environment in which the use of equity finance was more appropriate and frequently the only option for capital raising. The financial risk of a resources project can be transferred to an underwriter who makes the commitment to distribute the financial risk between a number of investors. There is also the opportunity for financiers to use a mix of equity and debt finance to allow a company to proceed with the development stage where without such a mix the resource project would not proceed. By using a level of equity finance the project becomes robust enough in its ability to service the debt finance facility and the project proceeds with the equity participants receiving a suitable risk reward return. The liquidity from the establishment of a market for the company's securities enhances further capital raising and generally enables the company to satisfy its financial requirements on more favourable terms particularly during bull markets. The role of equity finance in the management of the financial risk during the exploration, evaluation, development and mining stages of resource projects is summarised in Table 1. In more detail the principal roles of equity finance and the ways in which equity finance impact on the risk management of resource projects will be considered in turn.

Jan 1, 1994

It is indeed an honour to address the perth branch of the australian institute of mining and metallurgy and to have the opportunity to talk to you about the future role of upgraded ilmenite on t102 feedstock supply and demand. There have been many papers written on upgraded ilmenite supply and demand and now I would like to share with you QIT's view of the situation first, a word about demand, although I will be talking principally on the supply issue. The principal use of t102 is in the manufacture of pigments which, in turn, are used in paints, plastics, and the paper industry together with a few miscellaneous uses, while a further b% or so of t102 minerals are consumed for the manufacture of titanium metal and for the manufacture of welding electrodes. the total demand for contained t102 is of the order-of 3 million tons per annum, and the general consensus in the industry is that growth rates should be of the order of 2% annually- it is against this backdrop that suppliers must compete with one another and produce least cost materials for the pigment industry. At the moment, supplies are relatively tight, but the generally slow growth in demand coupled with the abundance of titanium bearing minerals should ensure that long term the reverse is generally true. Now, let us examine the supply situation. Titanium is the 9th most abundant element in the earth's crust, so the problem from the producers` point of view is not one of scarcity of titanium minerals, but of how to extract most economically t102 feedstocks from a wide variety of choices- up to the present, all titanium feedstocks are being derived from either rutile or ilmenite rutile, at about 95% t102 content, is indeed a premier raw material which does suffer from potential scarcity and rutile supplies will likely be a diminishing factor in future decades- whereas ilmenite, a combination of iron and titanium oxides found in varying ratios, may be found in huge quantities all over the world.

Jan 1, 1986

It is a commonplace of our industry that prices of most minerals have been historically weak during the 1980s. The International Monetary Fund's index of prices of metals fell 25 per cent between 1980 and 1982, rose slightly in 1983, and has since fallen further. In December last year it was 37 per cent below its 1980 average. The few temporary exceptions to the mineral industry's malaise highlight the excess capacity, which largely explains the weakness of prices. The industry has painfully come to recognise that more satisfactory prices will not be restored until supply capability and demand move back into better balance. Mine capacity was installed in the expectation of much faster growth of demand than has occurred. For a variety of reasons mine and plant closures have been insufficient to restore equilibrium to the market-place. The industry may, therefore, have to resign itself to continued weak prices for some years more, at least by the yardstick of the 1970s. Growth rates of demand have slackened off in line with economic activity, and in response to continuing substitution and technological improvements. To the extent that the recent weakness of oil prices stimulates the industrial countries' activity, demand for non-fuel minerals may grow faster than most forecasters now predict. It is, however, much too early to say how long the weaker oil prices will persist, and even more difficult to estimate their probable effects. In typical post-war business cycles the usual response to recession was to batten down the hatches, and ride out the storm. Sooner or later, and probably sooner, demand resumed its previous trend path, and prices recovered. The market, in effect, bailed mines out of trouble; the more efficient could make attractive pre-tax profits whilst even the poor to mediocre could earn a satisfactory living. Prices rose at least as fast as general inflation, and in the early 1970s much faster. In retrospect those price rises of the early 1970s were historically abnormal but they did not appear so in the prevailing inflationary climate of the time. When the market failed in the early 1980s many of the hardest hit companies looked for scapegoats.

Jan 1, 1986

In 1939 at the annual meeting of the Australasian Association for the Advancement of Science, held at Canberra, a paper was contributed by E. de C: Clarke and H. A. Ellist in which a plea was made for more "facts" concerning metasomatism near ore-bodies in Western Australia. From time to time writers here, and in other parts of the world, have discussed the alterations in wall rocks of various reefs and lodes, but little has yet been attempted in the matter of accumulation of quantitative data, both chemical and mineralogical, and in the correlation and comparative study of this data. Such a detailed comparative study is needed to determine the economic value of a practical application of our accumulated knowledge of the phenomena of metasomatism.When in 1939 the opportunity offered for an examination of the core from 4 bores recently put down by the Big Bell Mines Ltd., to explore the ore-body of the Corinthian G.M. 10 miles N.W. of Southern Cross, Western Australia it was hoped that some small beginnings might be made of an accumulation of comparative and quantitative data regarding the metasomatism of the wall rock immediately adjacent to this ore-body.By the courtesy of the Big Bell Mines Ltd., the core from the 4 bores was delivered to Survey Headquarters, Perth;in the middle of June, 1939 and copies of assay plans of part of the underground workings at Corinthian, and of the results of assays of the bore cores, were also supplied by the management of the above company.It was not, however, until March, 1940, that it was 'found possible to investigate the core. At that time the writer's colleague, Mr. R. S. Matheson, conducted a: megascopic examination of all the bores and selected material from two of these for possible future chemical analyses. Late in 1940 the writer commenced a microscopic petrological examination of this material.AIM OF THE INVESTIGATIONThe object of the petrological part of this investigation was to determine whether from a megascopic and microscopic examination of the core, any evidence could be obtained indicating changes, in mineralogical composition...

Jan 1, 1942

There was a time, in the memory of some here tonight, when the annual meeting of The Institute was a nostalgic occasion. Often, in the 1920s, there was comment on the decline of Australian mining and on the lack of new mineral discoveries. When some of our Presidents prayed then for a new Bendigo, and instead were given a Mount Isa, they were justifiably disappointed because of the vastly different capital requirements.In 1967 the mining picture is very different. The recent mining developments in Australia are certainly as important as several Bendigos and several Kalgoorlies. The mining industry in Australia has never been more dynamic than today (Table 1). And if we ask why it is so dynamic, the answer lies in the role which overseas capital is playing in the industry. The contribution of overseas capital should concern us not only because we are members of the mining and metallurgical profession, but also because we have a duty to make our profession contribute as much as possible to the well-being of Australians. It is not sufficient to argue that overseas capital is good for the mining industry; we must also examine whether it is good for the economy and the nation. In this context the current criticism of the inflow of overseas capital into Australian mining is useful, for it gives us an opportunity to see what has resulted from the inflow.In discussing this question I do not suggest that we emulate Captain Hancock, that legendary Moonta mine manager who, according to Oswald Pryor's cartoon, used to say to his miners: "When I say a thing is, it is, even if it isn't". The question can only be discussed on a factual basis; and I would submit that many of the important facts relating to overseas capital in our mining industry are often overlooked or ignored. I would further submit, on the basis of these facts, that Australia's present day mining industry has been largely built on overseas capital and that the overall benefits of that capital to Australia have been enormous.

Jan 1, 1967

Computers and other microprocessor technology lead the world of technological change. Nevertheless, the real advances in the world at large are not necessarily in the computer industry, but in the industries whose economics benefit most by the advances that this computer revolution makes possible. The minerals industry has always been in the forefront of this advance. Technological change in the era preceding the industrial revolution, and the mining industry's part in it, provides an instructive lesson for what is happening today. Strong parallels can be drawn for predicting future advances. With each technological advance allowing more efficient production comes a re-alignment of economics - absolute and relative changes to prices, to quantities demanded, and to other market characteristics. This re-alignment applies not only to the mineral industry, but also to the world at large. Adaptability, rather than technical advancement per se is the key to survival and growth in a changing world. 'Adaptability' as a concept is easy to support. As an operational philosophy it is not so easy to implement. As a goal for planning, it is much harder to quantify. A fixed scenario of a future world may provide helpful guidelines, but a scenario that demands adaptability to an uncertain future world is much less definite. Of course, everyone else in the world is also uncertain about the future, and they are making their plans using different assumptions. This virtually guarantees that our future will turn out different to our expectations. This is in part what Hayek (1945) calls the 'knowledge' problem. Until now, most of the planning and technical research undertaken in the world has ignored this problem. This ignorance is a luxury that we can no longer afford. The paper looks at the history of technological change and highlights the characteristics of successful technological revolutions. 'Adaptability' to unforeseen circumstances is the key to success in this environment. The paper examines the knowledge problem from the perspective of the mineral industry, and suggests a number of directions for maximising the returns from application of computer technology in this important area.

Jan 1, 1995

By J J. Plumb, P D. Franzmann

A study was conducted to describe the microbiology of the MICCL Monywa chalcocite heap bioleaching operation. Microorganisms were detected in the heap using culture-based techniques and cultureindependent PCR-DGGE analysis of the 16S rRNA gene. The metabolic requirements, temperature and pH optima were determined for selected strains isolated from the heap material. Six strains (BH1-BH6) were enriched and isolated from heap solids and leachate samples. Phylogenetic analysis of the 16S rRNA genes showed that strains BH3 and BH4 were closely related to the acidophilic bacterium Acidithiobacillus caldus and strains BH5 and BH6 were closely related to Leptospirillum ferriphilum. The optimum growth temperature for L. ferriphilum was 41.3¦C and the optimum pH range was 1.1 to 1.5. A new species of Archaea was isolated from the heap samples. Cells of the proposed species, Ferroplasma cyprexacervatum (æcyprusÆ L.n. meaning copper; æexacervoÆ L.v. meaning æto heap upÆ), are non-motile pleomorphic cocci, capable of chemomixotrophic growth with ferrous sulfate and yeast extract. Cells grow anaerobically on ferric iron in the presence of potassium tetrathionate and yeast extract as electron donors. Growth occurs from 14¦C to 63¦C, with an optimum temperature of 55.2¦C. The optimal pH for growth was 1.0 - 1.2. The species was phylogenetically most closely related to Ferroplasma acidiphilum with a 16S rRNA gene sequence similarity of 95 per cent. Molecular analysis of mine samples (16S rRNA PCR-DGGE) detected the above-mentioned cultured strains of microorganisms as well as species of Sulfobacillus and other unknown Proteobacteria. The microbial community of the Myanmar bioleach heaps contained similar levels of diversity to a dump bioleach operation in Chile, but contained greater amounts of biomass than another heap bioleach operation in Australia. The operating parameters of the Myanmar heaps (low pH and moderate temperature) have selected for the growth of moderately thermophilic microorganisms that are more commonly found in extremely low pH acidic mine drainage sites than in heap systems. The novel species of Ferroplasma is thought to be involved in the aerobic and anaerobic cycling of iron within the heap bioleaching environment.

Jan 1, 2004

Botanical exploration has identified many plant species that naturally accumulate very high concentrations of elements, particularly heavy metals. The enormous potential applications of some of these species to remove metals from soil (phytoextraction) are slowly being realised. The discovery of hyperaccumulation has resulted in considerable research into applications for removing contaminants (phytoremediation) or more importantly, in the context of this discussion, for commercially æfarmingÆ metals (phytomining) from metal-bearing soils. Currently published phytoextraction models estimate Ni yields using Berkheya coddii (a South African nickelophyte) are approximately $US 750 ha-1, excluding the cost of processing. Research indicates that B. coddii will also accumulate significant amounts of Co, resulting in a considerable increase in the value of the crop. Modification of the substrate by acidification, fertilisation and/or chelation indicate fruitful avenues for improving this yield by increasing the extractability of the target element, elevating biomass production rates and/or rendering other contained heavy metals extractable. Plant uptake of more insoluble elements, such as Au, may be induced in many plant species using chemical compounds. These chelates applied to the soil, form soluble complexes with poorly soluble metals forcing them into the soil solution. Plants may then accumulate these metal complexes through transpiration. Research has achieved foliar Au concentrations of 78 mg kg-1 in Iberis intermedia, 56 mg kg-1 in Brassica juncea and 9 mg kg-1 in B. coddii (on a dry weight basis). Therefore in theory B. coddii could phytomine a soil containing modest concentrations of Ni, Co and Au to yield 116 kg Ni, 36 kg Co and over 6 oz Au ha-1 at a current value of $US 4000. Root crops have also shown promise in chelate assisted Au accumulation (eg 6.8 mg kg-1 in Beta vulgaris and 118.5 mg kg-1 in Raphanus sativus). Phytoextraction, in its varied applications, is rapidly coming of age as a technology having considerable potential for application in environmental science and the minerals industry. Phytotechnology employs unique plant biochemical behaviours in the rhizosphere, driven by the sunÆs energy, to seek out and concentrate low levels of heavy metals at very low cost.

Jan 1, 2002

By Vanderberg B

A 3D, PC based computer program is currently under development by Blasting Analysis International, Inc., to analyze the kinetics of full scale blasts with two or more high-speed motion picture cameras. Todays common approach of utilizing only a single camera system can, in some cases, lead to great errors and erroneous conclusions when motion is assumed to be in a predefined plane of motion. CMe phrase, "What you see is what you get, it no longer true in 3D."). This is especially true in blasting environments which exhibit complex and/or predominant structural geology. The 3D system eliminates this problem, and includes automatic corrections for vertical and horizontal camera optic axis orientation, dimensional controls, lens distortion, field set-ups, projection imaging and digitized inputs. The only information required is the surveyed or known coordinates of at least six non coplanar points in the field of view. Motitn from each camera view is then digitized, transformed through a direct linear transformation, and processed with the 3D software, which also automatically time matches the data, even when the high-speed cameras are operated at different speeds. Eleven calibration constants are generated using an overdetermined system of linear equations to output the true 3D coordinates of motion in the time domain. Applications for this 3D approach are not restricted to just analyzing the kinetics of a blast. The system is sufficiently flexible to allow an accurate, quick and economical method of bench face profile analysis, generate muck pile profiles and estimate volumetric calculations. The recording systems for these applications can be common 35mm still photography and/or video equipment. It is envisioned that this system will soon replace expensive laser surveying systems at a fraction of the cost in the near future. It is also an excellent system to accurately quantify drill pattern layouts and the spatial locations of each blasthole. This information is required for generating single hole based synthetic seismograms to accurately predict the vibrational outputs of full scale blasts. In terms of litigation concerning claims resulting from blast induced ground vibrations to structures, the system is proving to be an excellent and economical method of performing pre-blast surveys where differential settlement is suspect.

Jan 1, 1990

To explain in any depth the industrial relations of Broken Hill I believe that it is necessary to trace some of the many happenings that created the present industrial climate. While appreciating that our relations with the local industry are relatively good, it must be pointed out that to preserve and improve this present situation a duty is owed to everyone connected with the industry (workers, share- holders, etc.) by management and unions to see that just and reasonable agreements are found for any disputes. If the companies ever take the local position for granted it would soon die, killed by someone who may get some short term benefit, but who would lose something of incalculable worth in the long run. Similar- ly if the unions were to adopt some of the "wild cat" methods adopted in other parts of

Jan 1, 1975

Management at all levels continually strive to optimise, or make the most of resources available to them. Daily, decisions are being made on how to most efficiently locate and exploit an ore body, then process and market the recovered metal. At one level this optimisation process in the Australian mining industry appears to be successful, for example, witness the improvement in productivity and reduction in operating costs through the 1980s. Yet, at another level the industry's performance has been appreciably below expectations as measured by rate of return criteria. Companies likely to exhibit superior performance are those that are able to co-ordinate, through good planning, the optimisation process at all levels of the organisation. An important role for general management is therefore to provide the context or boundary conditions in which optimisation can Proceed.

Jan 1, 1991

Partnering has come to prominence in the Australian construction industry in a formal sense this decade. The high level of disputation in the building and civil construction industries in the 1980s drove its development in both Australia and North America. PartneringÆs use has been most prominent in the construction industry, particularly in the civil and construction sectors of the industry. It has found favour in some mining development projects, one of the most notable being BHP MineralÆs Cannington project in NW Queensland. This paper examines the requirements of successful partnering agreements and describes in detail the mine development partnering agreement at Cannington. In particular, the paper discusses the authorÆs experience and recommendations for partnering to avoid contractual problems and achieve win û win project outcomes for all parties to major mining projects.

Jan 1, 1999

Human resources (HR) practitioners use a general suite of tools that they adopt to suit their company needs and profile. This paper will cover the main areas of a selection and recruitment process from applying for a job, resumT writing, participating in an interview finalising the job offer. A holistic recruitment process has many facets to it. These processes can be quite sophisticated and technical but at the end of the day they are designed to identify talent. A recruitment process will generally include: ability testing (usually online);telephone interview;face to face interview;behaviourally based interviews;psychometric assessments;presentations;simulations (independent or team based); and assessment centres, etc. Understanding the basis of these tools will go a long way to prepare you for the job market, enhance your performance in a recruitment process and stand you out from the pack.

Jan 1, 2008

In both exploration and mining, the laboratory is often seen as a cost rather than a profit centre. The aim in most mining companies is to increase profits by reducing costs, so the budget for the laboratory is under constant pressure.There is another option; to see the laboratory as the brain of the operation. By lifting the status of the laboratory and treating it as a profit centre, mine costs may be reduced in other ways, e.g. reduction in milling costs. This change of status will require investing more capital in better equipment, more training for employees and more employees to carry out project research.There are many examples of major costs being incurred because of inadequate laboratory work. Conversely, by spending more money on laboratories and their activities, overall costs can be reduced or profits enhanced.

Jan 1, 2002

By G B. Siddall

The paper examines the current state of equipment and circuit design, with reference to Australian practice. Following a review of the changes in milling applications over the last 15 years, developments in mill design are examined. Current issues include trunnion versus shell support; drive type and economic analysis for comparison of the various systems; the efficiency of the mill discharge system for slurry and pebble removal, and lining configuration. Peripheral problem areas such as pebble crushing and classification are briefly examined. Circuit design issues are reviewed. The decision to modify the traditional primary crushed feed is examined with reference to recent and proposed installations. A retrospective look at fully autogenous installations and their successes is presented, and current views on increasing throughput are assessed. Finally, future developments are anticipated in mill design and control, and competing processes are identified.

Jan 1, 2002

Contracts are widely used in mining to provide self motivation in an environ-ment of isolated work places. Which incentives to use and how to implement them has long been the subject of numerous discussions. The mines operated by Australian Mining and Smelting at Broken Hill have evolved several guidelines to follow when developing contracts.Identify the main purpose of the work and use this as the basis of measurement for the contract. Therefore stoping achievement would be measured by tonnes extracted, development by metres driven. Paying for other work activities such as standing timber in timber stoping must detract from the percentage of the total contract paid per tonne produced. Concentrating on the main activity and applying the majority of contract pay to that task reinforces at is beneficial to both the miners and the whole operation.

Jan 1, 1985