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Undisturbed minor sedimentary structures-cross-bedding, ripplemarking, scour-and-fill, slumping-are present in most of the rock types in the Willyama Series of the Broken Hill district and in the orebodies.This indicates that there has not been any significant movement of mineral matter within or into the rocks during or after metamorphism, that the rocks have not flowed during tectonic deformation or during metamorphism, and that the ore is an original sedimentary deposit in its sedimentary position.Sedimentary processes, depositional and mechanical, are indicated to explain the deposition of sedimentary metallic minerals and their concentration into large masses. The Broken Hill orebodies show evidence of these processes.INTRODUCTIONI visited Broken Hill for one week in May, 1958, at the invitation of Mr. Haddon F. King, Director of Consolidated Zinc Pty. Ltd. He asked me to examine the rocks and orebodies in the mines and outcrops at Broken Hill for:1. Sedimentary structures that might be used to determine the facing of the banding;2. Indications of the original nature of the rocks if I considered they may have been sedimentary; and3. Indications of any possible sedimentary origin for the ores.It has been stated (Gustafson et al., 1952, p. 30) that there was no indication, in the banding, of the facing of the banding, but recently B. P. Thomson had found examples of what he had interpreted as graded bedding (personal...

Jan 1, 1959

By Cadman S. J

( The central part of the Gippsland Basin is surrounded by existing major Petroleum accumulations and although six exploration wells have been drilled in the area, none are significant petroleum discoveries. Post drilling analyses indicate that the wells were drilled off structure due to the presence of high-velocity Miocene channels. These channels contain carbonates of significantly higher interval velocity than the surrounding sediments. Problems with seismic interpretation were thus encountered in the development of prospects in the central part of the Gippsland Basin as part of a BMR prospectivity study. The seismic interpretation problems associated with the Miocene channels are two-way time pull-ups at the underlying top of Latrobe Group and deeper levels on the seismic sections. Interpreted seismic sections passing through some of the exploration wells and the Miocene channels are presented to illustrate the configurations of these channels and the pullup effect associated with them. Two different methods of depth conversion were applied, one for the area below the high velocity channels and the other for the area away from the channel. The application of these two methods of depth conversion were found to be reasonably successful in correcting for the pull-ups caused by the high velocity Miocene channels. Mapping of the events near the top of Latrobe Group and near Base Lower L balmei seismic horizons has led to the identification of several potential structural closures. Further exploration efforts are necessary in this area to test these closures.

Jan 1, 1992

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

"Recognising that the mining industry is wedded to the break-even cut-off grade rather than a cut-off grade that optimises value, the author examines some perils and pitfalls in the use of break-even grades that lead to what the author calls ‘negatively geared ore reserves’.Negatively geared ore reserves occur when a portion of the ore reserves actually has a negative value and is effectively being subsidised by the more profitable portion of the ore reserves. This situation is generally difficult to detect with the level of information available to the public investor. The ore reserves can still be quite profitable in total, but now possess a level of risk that may not be appreciated.The risk profile (financial risk) of a negatively geared ore reserve is far greater than for a non-negatively geared ore reserve. Like a negatively geared investment property in a falling property market (for readers familiar with the Australian tax minimisation investment strategy), when the price of a commodity falls, a company that possesses a negatively geared ore reserve loses value at a magnified rate relative to a company that has a neutral or positively geared ore reserve. In the extreme case of a major commodity price reduction, as happened with the gold price in mid-2013, the negatively geared ore reserve can easily become negative value in total, not just in part.The negatively geared ore reserve is sometimes intentional – for instance in order to increase published ore reserve tonnages and meet the CEO’s key performance indicators – but is also often unintentional, resulting from various errors in the break-even calculation. Common errors in calculating a break-even grade include using fixed metallurgical recoveries, not including allowances for ideal laboratory versus real plant results, ignoring available operational data and using modal rather than mean parameter values in cost and performance calculations.This paper examines a common value distribution profile in many ore reserves and the effect of common break-even grade errors on this profile.CITATION:Poniewierski, J, 2016. Negatively geared ore reserves – a major peril of the break-even cut-off grade, in Proceedings Project Evaluation 2016, pp 236–247 (The Australasian Institute of Mining and Metallurgy: Melbourne)."

Mar 8, 2016

By D Kepert

It is the role of the exploration geologist to create wealth through the discovery, delineation and characterisation of economic mineralisation. This requires a critical depth of geological understanding.Unfortunately, the resource industry is well known for its cyclic nature. Many of the current generation of workers have only ever experienced the boom of the ‘super-cycle’ and are only just discovering the negative side to the business. For the case of the geologist and especially the exploration geologist, the magnitude of peaks and troughs are usually amplified and may become destructive to all parties. During the uptime a healthy stream of exploration good news becomes the staple diet of company releases, in particular those of junior companies attempting to bolster the share price. The geological knowledge and experience gained thus forms a significant and integral part of the value and therefore, future of a company. On the downturn it is often viewed that geologists are a luxury, an optional extra and a burden on the bottom line with companies entering a period of memory loss and myopia.Retention of geological knowledge however remains critical as projects, companies and cycles mature. Beyond exploration per se, this knowledge becomes both fundamental in de-risking and commercialising an asset (through development or divestment) and in positioning the company for cyclic or counter-cyclic opportunities.The growth and retention of this knowledge base is difficult to quantify in terms of direct value but becomes one of a successful resource companies greatest assets. At worst, its loss can lead to millions of investors’ funds wasted on missed opportunities, drilling, or poorly designed plant and mine.But the rocks are around for the longer haul and pay little notice to the vagaries of the scurrying of Man.This paper reflects on some of the authors own observations through 25 years of iron ore exploration, in why it is critical to always rigorously question the prevailing geological (mis)understanding and the technical and commercial benefits which that may bring, and looks forward to the future.CITATION:Kepert, D, 2015. Geology – the affirmative case, in Proceedings Iron Ore 2015, pp 285–298 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Jul 13, 2015

By Y Xu, J Hacker, D J. Williams

Shear strength parameters of compacted clay liners are needed to analyse the stability of mine waste dumps containing compacted clay liners as sealing layers for potentially acid forming waste rock. A representative clay sample was supplied by McArthur River Mine from the mine site in the Northern Territory, Australia, with an average as-supplied gravimetric moisture content of about 13.6%. The clay was compacted in a 100 mm by 100 mm direct shear box at the as-supplied moisture content to a dry density of 1.85 t/m3, representing the field compaction specification adopted by the mine. To determine the peak and ultimate shear strengths of the compacted clay, single-stage direct shear testing was carried out at nominal initial normal stresses of 50 kPa, 100 kPa and 200 kPa, representing shallow depths of burial in the North Overburden Emplacement Facility of about 2.8 m, 5.6 m and 11.1 m, respectively (assuming a waste rock wet unit weight of 18 kN/m3). Three shearing rates of 1 mm/min (rapid), 0.1 mm/min (intermediate) and 0.01 mm/min (slow) were applied to study the influence of shearing rate on shear strength. In addition, the development of a residual shear plane was tested by reversal and re-shearing in the direct shear box. In the first shearing, the peak and ultimate shear strengths are determined. The normal load was then removed and the box rewound to its starting position. The normal load was then re-applied and the specimen re-sheared. Two reversals were applied to each specimen, and it was found that there was no significant reduction in shear strength. Finally, based on a range of shear strengths obtained in the laboratory for McArthur River Mine clay and other materials by various laboratories over time, shear strength parameters for the compacted clay were recommended for use by the mine.CITATION:Xu, Y, Williams, D J and Hacker, J, 2018. Shear strength of compacted clay liner at McArthur River Mine, in Proceedings Mine Waste and Tailings Stewardship Conference 2018, pp 208–219 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Jul 23, 2018

A research and testing facility has been developed at Simtars to allow the spontaneous combustion testing of coal on a large scale. In this adiabatic reactor, the coal particle sizing is closer to that which could be found in the goaf and therefore the reaction is more likely to simulate the underground situation. This allows aspects of the spontaneous combustion process and methods for detecting a heating to be investigated which cannot be done in an operational mine. Up to 18 tonnes of run of mine or crushed coal is loaded into the reactor and allowed to self-heat while the temperature and gas profiles within the coal pile are monitored. The gases evolved from the coal are analysed using a fixed gas monitor system and gas chromatography to determine which of the common mine fire indicators and ratios can be used to predict the onset and progress of coal heatings. Benchmarking of the inherent propensity of a coal to spontaneously combust at both the large- and laboratory-scale is also possible by comparing the sample against previously tested samples. It has been found that the coal particle size affects both the time it takes for the coal to react and the location of the developing heating. The heatings generate approximately one metre from the inlet but in the crushed coal case do not progress to an advanced heating stage until the æhot spotÆ migrates towards the coal surface where there is an increased oxygen supply. Physical properties such as the compressive strength of the coal also affect the heating size and the time it takes for a heating to develop. Higher strength coals appear to oxidise more slowly and therefore take longer to self-heat as oxidation of the coal is the heat-generating step in the spontaneous combustion process. The best indicators of the state of the heating were found to be CO make and GrahamÆs ratio which are independent of air flow. Investigation of a potential spontaneous combustion should begin as soon as the CO make or GrahamÆs ratio exceed the background levels. The results from the tests undertaken on a number of Queensland and NSW coals are reported here together with the implications for the mining industry.

Jan 1, 2005

Thank you for the opportunity to speak at this important conference attended by aspiring mining professionals, some of whom will become the leaders of the mineral resources industry that forms the solid foundation of AustraliaÆs past and that will fuel the exciting growth of AustraliaÆs future.I want to briefly touch on the history of our business, then look at the opportunities that exist in the contract mining industry and finally comment on what the educators need to consider in their curriculum to meet the needs of our business. Byrnecut started out as an idea in early-1987 developed by a group of four mining people. At the time the industry was on the high end of a mining boom, the era of the Bonds, Connels, Skases and so on. Riding on this wave of euphoria we borrowed $600 000 from the National Australia Bank and, without having enough knowledge to lose sleep over the potential risks, started business in mid-1987. The euphoria quickly evaporated with the 1987 October stock market crash. The bank pulled our overdraft, equipment finance rates increased to over 20 per cent per annum and my house was mortgagedseveral times over. The business learning curve was extreme for a young mining engineer who had developed his trade in the relatively sheltered environment of a large public mining house, namely WMC. We were somewhat bitter that the banks had done a runner. We were a private company, backing the business with personal assets with our shoulders to the wheel, whilst the Bonds of the world had theirnoses in the trough ripping off mum and dad shareholders. All of this had a sobering effect, namely keep your feet on the ground, stick to the knitting, work hard and worship cash flow. Since that stressful but adrenaline pumping beginning the company now employs over 600 people and is now working for major mining houses at over a dozen locations in Australia, east Africa and WesternEurope and the National bank is again our banker. On this basis I consider myself qualified for the subject of this speech.

Jan 1, 2002

During the 1998/99 Asian crisis Solid Energy's export revenues collapsed from over US$70M to under US$40M. Simultaneously, domestic market uncertainty led to decreases in volumes and prices. A major new underground mine was not technically viable, and was closed, and several other mines were marginal. Less than two years later, Solid Energy and its JV partner closed a second new underground mine. The company was in financial crisis, and reported an $86M loss for 1998/99. After refinancing with stringent workout conditions it still had minimal returns due to low prices, unaffordable transportation costs and huge unrealised FX losses as the NZ dollar fell 40 per cent in value. The obvious scenario was to æcash upÆ û complete extraction at remaining mines, sell off any viable parts of the business, pay off debt and wind the company down.In 2002 Solid Energy has completed its recovery. Although margins remain slim and volatile in both export and domestic markets, it is achieving record volumes and revenues. It has paid off its shareholder loan, has minimal remaining FX losses, and cashflow is allowing further mine and infrastructure development. The key to the turnaround has been implementation of rigorous planning, analysis and decision-making in all aspects of the business. The company has a comprehensive, rolling 20-year plan used annually to update rolling five year and annual business plans. Solid Energy augments strong line management operations with rigorous standards and processes for mine planning and development, operational decision-making, and functional support. Detailed, quantitative risk analysis is used in all aspects of the business and allows comprehensive integration of opportunity and risk management across all activities in the company.Coal mining is widely perceived as an æold-economyÆ industry. But, like other successful æold economyÆ companies, the information systems and management processes used by Solid Energy are as leading edge as any in the high-tech sector. They are the key to managing to add and sustain maximum value for a company that has access to coal resources sufficient for hundreds of years.

Jan 1, 2002

The revival of the mining industry at Captain's Flat after a long period of years of inactivity has attracted attention to the importance of the ore-deposits of that field as potential sources of supply of lead and zinc. Mindful of the necessity for taking stock of the State's mineral resources, the Department of Mines of New South Wales as part of its programme of geological investigation, carried out a survey of the oredeposits and associated country rocks during 1938 and 1940.Surface geology was mapped in detail and all available exposures were examined and logged. Unfortunately, and this condition militates against the formulation of conclusions because of insufficiem.t data, some of the older workings, notably in Keating's Section, were inaccessible and the logging of levels and stopes is by no means as complete as could be desired. However, with the progress of development and exploration, further information of geological value will come to hand for incorporation in supplementary reports. It may be expected that, under such circumstances, modification of certain statements herein expressed may be necessary but it is not anticipated that any vital alteration will be occasioned.Within the State of, New South Wales, Captain's Flat ranks second to Broken Hill as a pqtem.tial producer of lead and zinc. In addition, large quantities of iron pyrites are available for the manufacture of sulphuric acid which finds application in the superphosphate industry.The mines are now controlled by an operating company known as Lake George Mines, Ltd., incorporated in New South Wales, the parent organisation being the Lake George Mining Gorporation Ltd., registered in London.Over £600,000 has been spent by the Company in exploration, mine development, surface plant, housing and water 'conservation, while the State' Government constructed a branch railway from Bungendore at a cost of £200,000. The various activities consequent upon these development and construction programmes and the prospect of employment in the industry has led to a rapid increase in the population of the township.The State, generally, has benefited to the extent of a substantial contribution to the relief of the unemployment problem, and it is hoped that reasonable permanency will be assured to some hundreds of workers for many years.

Jan 1, 1941

By Cooper W. C, Stokes M. A

Proterozoic gold deposits in the Pine Creek Geosyncline are at present receiving renewed attention with the opening of old mines and several new discoveries. This important polymetallic province contains occurrences of gold, base metals, tin, tungsten, tantalum, platinum, palladium and aluminium. These resources have been exploited over the past century with periods of major interest during the turn of the century and during the past 20 years. Economically viable resources of predominantly gold, eg Pine Creek, Woolwonga, Brocks Creek and Union Reefs, and Ag-Pb-Zn, eg Woodcutters are currently in development or being mined. A variety of genetic models, ranging from magmatic through hydrothermal to syngenetic, have been postulated in the past for the formation of gold deposits in the Pine Creek Geosyncline. The first discussion on the regional geological factors that control ore deposition in the Brocks Creek-Howley District was by Sullivan and Iten (1952). They recognised that the most important ore deposits are associated with anticlinal and domal structures and that granites may be a controlling factor in the localisation of the mineralisation. More recently a group of authors, Needham and Roarty (1980), Goulevitch (1980), Nicholson and Eupene (1984), Sanger-Von Oepen, Friedrich and Kater, (1988), Nicholson and Eupene (1990) and Kruse, Whitehead and Mulder (1990) have suggested an exhalitive syngenetic origin, or remobilised syngenetic during dolerite intrusion and/or regional deformation, for gold mineralisation, especially those associated with South Alligator Group lithologies (eg Bridge Creek, Mt Bonnie group of mines and Cosmopolitan Howley). Studies carried out at the Bridge Creek and Western Arm Prospects over the last three years suggest that syngenetic models for gold mineralisation are less relevant to gold mineralisation in the Howley District than first thought (Wall, 1989; Partington, 1990). The Bridge Creek prospect has been cited as an example of a syngenetic-syngenetic remobilised deposit (Oepen, Friedrich and Kater, 1988) while the Western Arm prospect is more clearly a vein hosted epigenetic deposit and a comparison of the styles of mineralisation at both prospects will be made. The nature of the gold mineralisation at both prospects will be described and compared, and possible genetic models for gold mineralisation and their relevance to regional exploration discussed.

Jan 1, 1994

By A L. Stewart, M Baatar

"An EXTENDED ABSTRACT is available for download. A full-length paper was not prepared for this presentation.The Middle Palaeozoic Gurvansaikhan Belt (Southern Mongolia) of the Central Asian Orogenic Belt is one of Central Asia’s most significant emerging porphyry copper provinces. The belt has become the focus of extensive exploration for porphyry copper-gold deposits over the last decade following the discovery of the giant Oyu Tolgoi porphyry copper-gold deposit. The Gurvansaikhan Belt is known to host porphyry deposits of Late Devonian (~370 Ma) and Early Carboniferous (~320 Ma) age. The characteristics of Early Carboniferous porphyry systems are poorly known compared to their older counterparts, despite their probable abundance and potential economic significance. Exploration within the Kharmagtai porphyry breccia complex has identified multiple cogenetic gold-copper-porphyry centres and late-stage mineralised magmatic-hydrothermal tourmaline breccias emplacement within a composite high-K calc-alkaline quartz monzodiorite intrusive complex. Early porphyry alteration and mineralisation at Kharmagtai are zoned around vertically attenuated early- and inter-mineral quartz monzodiorite dykes and stocks and comprises a complex sequence of calc-potassic, potassic and propylitic assemblages. Hematite dusting is a common alteration product that gives intrusions and the host rocks a distinctive pink-orange colour. Several of the systems have bornite-rich cores, where mineralisation is characterised by high gold grades (0.7 to >5 g/t Au) that zone outward to chalcopyrite-rich and then outer pyritic halos. Early stockwork mineralisation is overprinted by magmatic-hydrothermal tourmaline breccias. High-grade magmatic-hydrothermal tourmaline breccias form part of a major copper-gold mineralised breccia system with significant exploration potential. The Early Carboniferous porphyry copper-gold systems of the Gurvansaikhan Belt represent a substantial exploration challenge in an area of increasing exploration maturity. This paper summarises the characteristics of the Kharmagtai porphyry system that have helped to define the Early Carboniferous porphyry province of the Gurvansaikhan Belt and discusses implications for future exploration.CITATION:Stewart, A L and Baatar, M, 2015. The Kharmagtai porphyry breccia complex – characteristics of early Carboniferous porphyry mineralisation in the Gurvansaikhan Belt, Southern Mongolia, in Proceedings PACRIM 2015 Congress, pp 383–388 (The Australasian Institute of Mining and Metallurgy: Melbourne)."

Mar 18, 2015

The JORC Code, which has been in existence as a Code incorporated in the listing rules of the Australian Stock Exchange and New Zealand Stock Exchange since 1989 and 1992 respectively, has been revised and will be re-released in 2003. This revision followed a call for submissions in December 2001, the publication of an exposure draft in late-2002 and an exposure period during which a large number of constructive comments were received. These comments were reviewed and a further exposure draft released as part of the current exposure draft of the ASX listing rules. It is anticipated that the final Code will be incorporated into the stock exchanges listing rules in late-2003. The 1999 JORC Code has been the standard on which other reporting Codes have been based, each of which has contained refinements. Three in particular, the Reporting Code from the United Kingdom/Ireland/Western Europe, the new Canadian Reporting standards and the SAMREC Code from South Africa, influenced JORC in the preparation of the 2003 JORC Code. Whilst there are differences between the 1999 Code and the 2003 Code, these changes are mainly in the guidelines. The Code definitions, which are largely in accord with agreed international definitions, remain substantially unchanged. The two main changes in the 2003 Code are the requirement for a Competent Person to be responsible for the documentation relating to the reporting of Exploration Results, and the introduction of æRecognised Overseas Professional OrganisationsÆ as overseas organisations to which Competent Persons may belong. Other changes include: clarification of the reporting of exploration targets or potential; the rearrangement of the diamond reporting clauses; the introduction of guidelines for the reporting of Industrial Minerals; modification of the coal clauses and recognition of the new Coal Guidelines; and the introduction of a guideline encouraging the discussion of relative accuracy and confidence in resource/reserve estimates. Other lesser changes to the Code are listed and discussed briefly. The release of the 2003 JORC Code maintains the standard set by JORC as a world leader in the development of mineral reporting Codes and their adoption by industry.

Jan 1, 2003

The phrase "Total-Energy" has, during the past few years, become widely used to describe a wide range of very different operations. However, if accurately described they all have one basic factor in common - energy usage is optimised with the prime mover being powered by gas or oil to generate shaft horsepower and the products of combustion being put to some use. The item which distinguishes a Total Energy system from any other engine or turbine driven project is that orate pains are taken to utilize the waste heat, whether this be in the form of exhaust gases and/or engine jacket ling water. n areas where grid supplies of electricity are readily available, the economics of most projects undoubtedly hinge upon the successful application of waste heat. However, there has been a growing awareness of other benefits, such as reliability of supply, which can be incorporated into the system. In particular these factors sway managements of hospitals and companies with complex computer facilities to examine closely the feasibility of Total Energy, Consequently, in America for example, where many systems have proved themselves the list of applications is wide - shopping centres, apartment blocks, office buildings, airline terminals, universities, schools, motels. And these do not cover the industrial sectors where the range is wider. The total number in North America is now approximately 500 and this to some extent-speaks for itself. In Australia, the real work involved in carrying out feasibility studies for Total Energy is only just beginning. 'in some quarters, the concept is not well received in that it is too new. Therefore, a typical approach is to play safe and wait until some other company has proved its operation "under Australian conditions". This is certainly a realistic approach when considering something revolutionary but as far as Total Energy.is"concerned all the individual components and sometimes combinations, (engines, generators, boilers, air-conditioning units) have been in operation for many years. The only innovation is that they are now all being brought together under one roof. This should not be forgotten when the question "where can I see something like this operating?" is asked.

Jan 1, 1970

THE following notes simply sum up the writer's experience, which extended over a very busy period of some three years, dealing with wolfram ores and concentrates. The three methods for the estimation of tungsten that are discussed below are well known, but these results of their trials and comparison under technical conditions may be interesting. Method I. The routine procedure for the assay of rich wolfram ores or concentrates was as follows: Take 1 gram of finely-ground sample; digest with HCl and HNOs for about 2 hours, evaporating down to near dryness. To the remaining 5 cc., say, of liquid, add water, warm or boil for 1 to 1.5 hour, filter through a small filter paper, and wash the beaker and the insoluble matter with hot dilute HCl. It is best to keep the bulk of the insoluble matter (WOs, Si02, etc.) in the beaker at this stage. Then plaee a weighed porcelain dish under the filter funnel and wash the beaker and the filter paper with successive small quantities of strong NHOH, finally bringing all the insoluble matter on to the filter paper, and collecting the ammoniacal filtrates in the porcelain dish (S). Then place the filter paper with the insoluble matter in a porcelain crucible, dry and burn off the paper, cool, and brush the contents of the crucible on to an agate mortar, grind it to flour, and brush this back to the original beaker without loss. In the absence of draughts this can be done safely. Re-treat this residue with' acid and ammonia as above, running the second ammoniacal filtrate into the previous porcelain dish, which in the meantime has been heating on a water-bath.Finally evaporate to dryness on the water-bath the combined ammoniaeal filtrate, and then heat gradually to a red heat over a Bunsen burner, cool, and weigh. Then the contents of the porcelain dish give the WOs (tungstie aeid) direcvly (5).The final filter paper and insoluble matter may be ignited in a porcelain crucible, thus giving the "insoluble matter." If the ore...

Jan 1, 1922

Many of the discrepancies that appear when comparing the results of reducing machinery are due to the nature of the materials reduced and the conditions under which they have been treated. It is therefore necessary that manufacturers should employ standard materials in their tests that sufficiently approximate the substances to be ultimately treated if the information is to be of any value to the purchaser. Another advantage to be gained by employing universal standard materials is that by their means one is enabled to compare the relative values of different types of machines. At present much of the data meted out to the public is insufficient to enable them to judge fairly. Of course the best test would be to send some of the stone tor which the machine is required, to be treated by the various crushers in the market that are likely to be suitable for the purpose, but this is not always possible. It would not take long to become accustomed to judge of the value of a machine for a specific purpose if it was guaranteed to work a certain quantity of some standard rock, even if that standard were not identical with the material to be treated.There are many points to be considered before selecting a machine, such as the size of the rough stone it will take, the size to which it will reduce it the proportions of various grades made when crushing to pass through a given mesh the form of the delivered particles the time taken to treat a+ certain quantity the horse-power required to drive the machine, both when loaded and unloaded whether constructed to crush wet or dry the wear and tear of the machine its total weight and weight of the heaviest part the cost of machine what attention it required whether the wearing parts are readily replaced, and several other points common to all machinery. 'When considering these varying quantities, we can tell at a glance certain machines that are suitable for a particular sort of work, and can then compare those belonging to the same class, thus avoiding errors made purposely or through ignotance by persons interested in different machines, who frequently compare machines originally constructed for.

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