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The topic for my address is Sharemarket Floats - Issues for Expert Valuers. I've decided to focus on three areas where current practice in the preparation of prospectus valuation reports for resource companies might be improved. My central theme is that the valuer for a float should augment the usual assessments of the value of the company or its assets, with some input on the way the share market might value the company's shares when they are listed. I will then look at the valuer's role in relation to vendor consideration, last I will look at his role in providing investors with some input on the risk dimensions of the new company.

Jan 1, 1989

By Prince R. G H, Guerney P. J, Frew J. A, Vanderkruk C. R, Wanigasekara-Mohoti D. K

This computer-aided design system for mineral processing flowsheets which are based on froth flotation, size reduction and classification combines an expert system for generating flowsheet structures with numerical models for the physical processes and the economics. Design decisions, such as specification, size and placing of process units and the destination of recycle streams, are based on clear technical and economic criteria. These decisions are controlled by user-set parameters, which allow the incorporation of industry experience and preferences and the generation of sets of good designs, from which choices may be made by further criteria, such as controllability. Liberation is now fully modelled and the early results from this extension continue to suggest potential substantial increases in added value over conventional approaches.

Jan 1, 1997

Used in conjunction with geology and geophysics, geochemistry provides powerful exploration tools of special relevance to Australian environments. New methods are needed that will confront the forthcoming emphasis on locating concealed orebodies. Deep weathering is conducive to techniques using groundwaters or gaseous emanations as sample media. Increasing use is anticipated for isotope measurements and for recognition of country rock characteristics that denote proximity to mineralization. Improvements in the sensitivity, reliability and portability of analytical instruments will underpin the contributions of geochemical methods to future mineral exploration.

Jan 1, 1982

By A Grant, H Thomas, C Clarke, B Fuller

Native seed and plants are often a core input into the rehabilitation process of mine closure. Native plant establishment rate and performance is a function of many input elements including seed quality (purity and germination percentage), processing, treatment, storage, supply chain handling, application and ongoing management. Traditionally native seed has been supplied with very limited supporting information which in some cases has led to establishment failures, repeated attempts at successful plantings, and biosecurity issues, leading to increased rehabilitation costs for mining companies. Product procurement scrutiny, and sustainability credential requirements, in all supply chains is increasing the need for transparent, accurate, verified, and certified information. This collectively continues to evolve towards a social license to operate in all industries, including mining. The Australian Seeds Authority (ASA), in partnership with native seed supplier AustraHort, traceability software company Trust Provenance and supporting partners including Transport for NSW and Queensland Transport and Main Roads (TMR), were recipients of a DAWE National Traceability Grant. The project team has developed a framework and traceability software platform currently being piloted within the Australian native seed industry. The framework and platform allow for all critical-tracking-events along the journey of a native seed batch to be easily captured utilising a smart phone application (APP) and the global standard for data capture. The platform provides a unique identification for each batch of seed and critical tracking event. The batch ID belongs to that batch and all supply chain stakeholders can contribute to batch traceability by providing more information/data to increase information integrity. This gives the end user, and other stakeholders, increased levels of trust in the product to support value, increase efficiency and reduce costs. For mining companies these efficiencies and cost reductions are in the form of information availability across site/company, potentially improved vegetation establishment, less rework and efficient monitoring. Ultimately this contributes to safe, stable and sustainable rehabilitation. By capturing data on harvest, logistics, storage (including temperature and humidity), aggregation/blending, treatment, application and ongoing management, the native seed industry and end utilisers of native seed have a greater level of product integrity, brand integrity and information integrity.

Aug 2, 2023

By P Breuer, X Dai, A Bergamin, D Hewitt

"Copper-ammonia-thiosulfate?leaching of gold has been researched for several decades as a potential alternative to cyanidation. However, this technology has not yet been applied commercially due to many challenges such as complex solution chemistry, reagent degradation and losses, system instability with losses of precious metals and difficulties in gold recovery from the leachate. Progress has been made at CSIRO in tackling some of these challenges including:better understanding and control of the leach conditions to minimise reagent losses whilst maximising gold recovery use of strong base ion exchange resins to recover the gold strategies to deal with polythionates that adsorb competitively with gold on ion exchange resins development and evaluation of process flow sheets.As a result there has been increased interest from the gold industry and renewed activities to develop thiosulfate based processes for gold recovery. One application area, which has been developed to the point of piloting, is the treatment of gravity gold concentrates using a copper-ammonia-thiosulfate leach with ion exchange recovery of the gold thiosulfate. This paper describes some of the advancements in the development of a potential process flow sheet for this application.CITATION:Dai, X, Breuer, P, Hewitt, D and Bergamin, A, 2013. Thiosulfate process for treating gold concentrates, in Proceedings World Gold 2013, pp 61-70 (The Australasian Institute of Mining and Metallurgy: Melbourne)."

Sep 26, 2013

By G Anderson, V Lawson, P Voigt

Glencore operates zinc concentrators at both Mount Isa and McArthur River. Both orebodies have a history of complexity and required the development of new technologies to maximise the value from these long-life assets. The Mount Isa orebodies were plagued since operations started in 1931 with complex mineral textures making separation challenging and many areas uneconomic. Examples are given in Figure 1 with different grain sizes from the same orebody in different areas. The McArthur River deposit, located in the Northern Territory, was discovered by Mount Isa Mines geologists in 1955 (Logan, Murray and Williams 1990). The extremely fine-grained nature of the ore was quickly recognised and the difficult separation of the minerals was soon obvious. The geographical, metallurgical and economic factors resulted in the orebody not being developed until the technologies for the mineral separation had been developed. The development of the IsaMill allowed for an economic mineral separation flowsheet to be developed and ore treatment commenced in May 1995 (Nihill, Stewart and Bowen 1998). CITATION: Lawson, V, Anderson, G and Voigt, P, 2018. Developing technologies for a complex orebody, in Proceedings Complex Orebodies Conference 2018, pp 116–118 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Nov 21, 2018

By D Morrison, P Goodman

The cycle time between adjacent stopes is critical to achieving the required production rate from 3500 Orebody; one of the Enterprise Mine orebodies. Current Mt Isa cemented fills require a 90-day cure period which had to be cut to 30 days while maintaining the required strength criteria. The Enterprise Mine Feasibility Study recommended that this be achieved by Cemented Slurry Rock Fill (CSRF), but that on-going research into paste fill be continued. The continuation of the research, in conjunction with overseas visits has recommended that the 3500 Orebody be filled with paste fill, with the potential to fill other orebodies. The paste fill will comprise cyclone and thickener dewatered copper tailings to which Portland Cement (PC) is added before vertical borehole delivery and undergound pipeline reticulation to individual stopes. The benefit is not only re-use of copper tailings but also much reduced binder usage.

Jan 1, 1998

By Jury C. G

A decade of expansion and high production targets have led to changes in the number and structure of the Mount Isa Mines Limited work- force. Falls in labour turnover and absenteeism are correlated with two demographic variables, improved selection and placement procedures and home purchase facilities. Some results of recent population surveys are presented and discussed in terms of future housing needs and potential employment problems encountered by school leavers.

Jan 1, 1974

By J Yamatomi, Y Tamanishi, S Miwa

The four-dimensional (4D) network relaxation method, originally developed by Akaike in 1999, uses Lagrange relaxation and is known for its ability to include the price change and possible better outputs, but the computation time is huge. However, the continuous advancement in computer technologies allows the use of higher-speed computers with more memory capacity. Therefore, in this paper the authors have tried to implement the method with adjustments and improvements in its algorithm to suit the current computing system. As a result, the computation time has been drastically reduced and more constraints can be included, which makes the scheduling a more realistic one. The case study of an open pit gold mine with 129 500 blocks can be solved considering the capacity constraints in 71 seconds. In previous case studies, the mined ore had to be processed or disposed of immediately. Now, stockpiling can be included as another option. Since the details of the algorithm are still being improved, the computation time is a little longer than the previous cases without the stockpiling option. However, it is found that scheduling with the stockpiling option is possible in a reasonable time. In conclusion, the 4D network relaxation method has become more useful with advances in computer technologies and provides better results.

Sep 26, 2011

The implementation, during recent years, of the concept of distributing chilled water to improve cooling at the working faces represents a very important innovation for the mining world. In a logical extension to that concept it has been recognized that distribution of the cooling water at high pressure would provide a potential source of energy for driving water powered hydraulic machinery such as rockdrills, water jets for moving rock, and support props, in the workings. With this in mind, the Research Organization of the Chamber of Mines of South Africa is pursuing the development of such a dual system that will provide cooling in a deep mine and, at the same time, drive hydraulic machinery. A comprehensive design of such a system has been completed and has shown the concept to be entirely feasible technically using technologies currently available. A pilot system is working in a mine shaft 2000 m deep giving a pressure of 20 MPa at the bottom of the shaft and distributing the cold water into the workings at a pressure of 17 MPa. The system shows considerable potential for improving existing mining methods and will open the way for the development of new mining methods for deep mining operations.

Jan 1, 1986

Quite often the reserve assessor becomes enamored with the numbers gen- erated and forgets the basis for his assessment. The quality of the assess- ment can only be as good as the quality of the input data. The use of seismic data from the Gippsland Basin in assess- ing Esso/BHP's oil and gas reserves is an excellent example of this principle. By significantly improving the quality of seismic data, a much more reliable estimate of a field's reserve potential can be made. In addition, it provides the basis for further delineation drill- ing which, as recent experience in Gippsland has shown, often leads to increased reserves.

Jan 1, 1979

By E Asakpo, S Chaffer, A Heath

Newmont has had continuous production at their Ahafo operations, Ghana, since 2006. In 2013, Ahafo initiated an efficiency programme to improve mill performance and reduce energy consumption. Following this assessment, a Turbo Pulp Lifter (TPLTM) was installed in the Ahafo SAG mill in April 2015 to replace the existing radial pulp lifters. Plant operational data showed delivery of a power saving of 10 per cent, an improvement in throughput of 3.3 per cent, with no loss of grind size. Pulp lifter life was also doubled from 11 to 22 months.However, during subsequent relines when the grates were removed it was found that one in four of the outer pulp lifters were wearing at a faster rate than the remainder. This was investigated by Discrete Element Method (DEM) modelling, which predicted some overtopping and internal recycle within the pulp lifter. Significantly, the model predicted that the recycled material would pass back down every fourth outer pulp lifter, matching the field observations. Subsequently, the DEM investigation was continued and became an R&D project to improve the TPL design. The results are summarised here, leading to the development of the next generation Spiral TPLTM.CITATION:Heath, A, Chaffer, S and Asakpo, E, 2018. The development of optimised pulp lifter design for the Ahafo SAG mill using discrete element method modelling, in Proceedings 14th AusIMM Mill Operators' Conference 2018, pp 585–594 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Aug 29, 2018

By Komosa T, Muir D. M

Adequate levels of dissolved oxygen are essential for efficient gold dissolu- tion. The actual levels in plantpuips can be seriously reduced by the presence of oxygen consuming reactive minerals, and reduced oxygen solubility in saline water. The rate of gold dissolution is then limited by oxygen availability rather than cyanide. Ion selective electrode dissolved oxygen meters can give an effective indication of the relative oxygen saturation, but they are not able to give meaningful values of dissolved oxygen in saline water, without custom calibration curves. When the dissolved oxygen concentration is rate limiting, the addition of oxygen or peroxide can improve gold leaching kinetics as well as reduce cyanide consumption.

Jan 1, 1991

By A Scott, I Onederra

A great deal of technical and research effort has been applied to the development of models to predict fragmentation from rock blasting. A number of quite useful empirical or engineering models are currently available to blasting engineers and consultants, while more sophisticated approaches using mechanistic and numerical descriptions of rock breakage continue to be developed and applied by researchers and explosives companies.The fragmentation resulting from any blast will be heavily dependent on the properties of the rock mass being blasted; however, most empirical models rely on ‘rock factors’ generated from simple rock mass properties to describe the influence of the rock on the blasting outcome. In contrast, mechanistic models need explicit rock mass properties that require sophisticated laboratory measurements and detailed structural data if realistic outcomes are to be generated. The fragmentation modeller is caught between excessively simple rock mass descriptions for the empirical models and excessively complex data requirements for the mechanistic models.This paper briefly reviews the basis of a range of fragmentation models and the rock mass properties on which they rely. Shortcomings in the way that the mining industry tends to characterise the blasting properties of rock are discussed and some practical approaches are described to quantify these properties in both operating and greenfield mining environments. Case studies are presented where specific additional breakage properties and modelling features have been needed to generate a useful description of the fragmentation achieved.CITATION:Scott, A and Onederra, I, 2015. Characterising rock mass properties for fragmentation modelling, in Proceedings 11th International Symposium on Rock Fragmentation by Blasting, pp 149–160 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Aug 24, 2015

By L Blackwell

Strategic mine scheduling is an industry best practice for increasing the long-term value of mining operations and supply chains. The application of optimisation technology such as mixed integer linear programming (MILP) is able to achieve a mathematically optimal result for a given scheduling model. Such a model will typically define the available source material, processing options and desired constraints for accessing and processing the material. Most strategic scheduling models, however, do not include a sufficiently detailed model of capital expenditure options related to capacity expansion.Typical strategic schedule models do not include important capital expenditure features such as capacity decay or expiration (limited lifespan of trucks), precedence relationships over time (rail construction before a new plant or non-linear expansions due to economies of scale) or mutually exclusive option sets (choices of plant size). By not including these features, a strategic mine scheduling model for a capital-sensitive operation is unable to be optimised to deliver maximum value or profitability.This paper presents several results of MILP optimisation using advanced capital expenditure modelling for mining operations and supply chains. Results of the study demonstrate that optimising capital expenditure at the same time as optimising the mining schedule allows for minimisation of capital purchasing, optimal timing for those purchases and optimal scheduling around them. Overall, this results in an increase in net present value.CITATION:Blackwell, L, 2014. Capital expenditure modelling for strategic mine scheduling, in Proceedings Orebody Modelling and Strategic Mine Planning Symposium 2014 , pp 315–322 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Nov 24, 2014

By Zervoudis J

Limitations of current touch-up solders for galvanised steel include coating thickness control problems and poor corrosion and abrasion resistance as well as health and environmental concerns due to toxic constituents such as lead. This paper reports on progress in ILZRO-sponsored research to develop an improved touch-up solder. Encouraging results were achieved in torch soldering trials with experimental zinc-tin-based alloys. Mouldability and coating thickness control were achieved over a practical working temperature range in which the solders consisted of a viscous mixture of solid primary zinc phase particles in a liquid zinc-tin eutectic matrix. The mouldability was dependent on the microstructure of the solder sticks, and optimum structures could be obtained through control of casting solidification rates and by the addition of small amounts of copper. Hardness, abrasion resistance, adhesion and corrosion tests on experimental Zn- (40 - 50 per cent) Sn-I per cent Cu also showed improved performance over lead-tin-zinc solders and compared the effects of tin content within this range. Atmospheric corrosion testing and optimisation of alloy composition and methods of solder stick production are continuing.

Jan 1, 1993

The ongoing need for improved fuel economy, longer engine life, reduced emissions and greater power output has driven the need for lower charge air temperatures. Cuamins will introduce a split loop, single water pump approach to low temperature aftercooling (LTA) in 1987 with the introduction of its 1492 kW (2000 BP) 16 cylinder K Series engine. The LTA system selection process considered performance, durability, fuel economy, and total engine installed cost. The split loop system selected takes full advantage of the engine cooling characteristics to provide optimum charge air temperatures at all speeds, loads and ambient temperatures. Computer simulations and engine tests were used to determine performance for each charge air cooling alternative. The split loop system chosen offers many advantages compared to the other alternative systems studied which included air-to-air and dual loop (two radiator, two water pump) systems.

Jan 1, 1986

By A L. Hemphill

Conventional models, based on pulp kinetics, were regressed directly to steady-state data from a nine-stage platinum flotation plant, to provide a basis for optimisation studies. æFroth factorsÆ were used to characterise the froth in each stage and a ædepressant factorÆ was used for gangue minerals, to account for addition of depressant to the cleaners. These factors improved the fit, but differences between plant and model of up to 50 per cent were still present in a number of streams in the cleaning circuit. A new model was developed, which incorporated two rate constants for the recycle of particles from the froth. These parameters provided a workable approximation of the distribution of probabilities of particles being recycled in plant cells, depending upon where particles appeared at the surface. The feed streams were characterised by two pulp kinetic parameters and the above recycle parameters, for all minerals and all stages. The fit to the data was improved very significantly, when compared to the use of conventional pulp-based models with several pulp rate parameters. This relatively simple model did not require additional data from batch tests and it was suitable for plant simulations.Simulations of various strategies for plant operation were tested, allowing the simulator to vary the concentrate flows from all or some of the stages, in order to maximise platinum recovery. The simulator was imbedded in an automatic optimiser and constraints on chrome content or mass flow of final concentrate were used. The simulations of the existing circuits demonstrated that an improvement in recovery, (for a constant concentrate mass) of about 0.5 per cent was possible, by optimising all concentrate flows. A significant reduction in the flow of scavenger concentrate and an increase in the recycle flows in the cleaners were noted. The results of simulations of various changes to the circuit configuration are also discussed. An increase in recovery of 1.4 per cent (for constant concentrate mass) has been achieved in recent simulations, through circuit changes. However, it was necessary to keep the mass pull of concentrate, per unit area, within typical limits.

Jan 1, 2005

The Mine Safety and Inspection Act, 1994 of Western Australia recognises the importance of ground control in underground mining. The recent safety performance of underground mining is summarised in terms of the most common causes of injury and fatal accidents. A review of current ground control practices is presented and the concepts of local and large-scale ground control are introduced. The need for a more systematic approach to ground control is considered to be directly related to requirement to improve safety performance. The new regulations will require that certain geotechnical issues be addressed during the life of a mine. To comply with the regulations it is suggested that a ground control management plan be developed for each mine. The geotechnical issues associated with the ground control management plan are reviewed and hazard recognition aspects discussed.

Jan 1, 1995

By D Duan

In this study, aimed at two kinds of ore (lump ore and iron ore fines) and four types of Australian iron ore resources (haematite iron ore, Mara Mamba iron ore, limonite iron ore, and mixed iron ore, such as Newman, MAC, Yandi and Pilbara iron ore), the physical and chemical properties and high-temperature properties were investigated in detail, to master their behaviour and effects in sintering, blast furnace, and non-blast furnace processes. Then, according to the individual properties of Australian iron ores, Chinese domestic iron ores and Brazilian iron ores, etc, the optimisation of ore-proportioning for sintering, blast furnace, and non-blast furnace processes was studied based on the interaction of the individual iron ores and their complementary properties, and the corresponding tests were carried out. The test work results indicated that this method not only improved the technical and economic indexes of sintering, blast furnace, and non-blast furnace processes, but also increased the addition of Australian iron ore. All of these provide the theoretical basis and technical support for highly effective use of Australian iron ore resources in iron and steel enterprises in China.

Jul 11, 2011