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Valuers will often intuitively express the probability that property value will exceed a certain amount . . . 'I think the chances that the value will exceed $50 million are excellent. The chances that they will exceed $80 million are poor'. This paper shows how it is possible to combine the uncertainties of the value of several key items to provide an estimate of the probability of a certain overall value being achieved. The valuation of a large copper/gold deposit was naturally influenced by uncertainties in the base assumptions of costs and metal prices. Potential acquisition of the property through share purchase raised the issue of what was a reasonable intrinsic value for the shares. Market considerations could be used to appropriately adjust the intrinsic value. After a range of possible metal prices and operating costs were determined, estimates were made of their probable distributions. By combining these probabilities in a random selection, a range of property values was calculated. Each value had its respective probability of occurrence. This allowed a most likely value of shares to be calculated. This paper demonstrates how the valuer's intuition is complemented by numerical analysis.

Jan 1, 1994

The basic purpose of blast design is to produce rock in a size range which is within the requirements of the materials handling system. Once this is achieved, one would like to find the fragmentation which minimises total production costs. The former objective requires that fragmentation be assessed by some means, possibly as simple as counting the number of oversize rocks. To determine the 'optimum' fragmentation, however, accurate knowledge of the complete fragmentation distribution is required. The use of muckpile surface images to determine blast fragmentation is the only feasible technique when one does not want to disturb the production cycle; however, a number of problems exist with the use of images amongst which are determining size from a two-dimensional particle shape, estimating the fines which are missing due to image resolution, the size of a 'representative' sample, errors due to the distortion of particle images, etc This paper briefly describes methods of determining rock size from images and expands on the various errors which exist in assessing fragmentation by photographs. Methods to minimise and account for the errors are given, when possible.

Jan 1, 1976

By Quast K. B

The ore used in this test program was a composite sample from Waihi, New Zealand containing 2.7 g/t gold and 36 g/t silver. From the testwork it was found that a high concentration of sodium cyanide (0.1 per cent) was necessary to ensure a high recovery of both gold and silver. There appeared little chance for either differential leaching or adsorption of gold and silver. The addition of bentonite clay decreased the rates of gold and silver dissolution. The addition of 50 g/1 NaCI had little influence on the rate of silver extraction. The addition of 5 g/l carbon gave adsorptions of 70 per cent of the gold and 35 per cent of the silver, indicating the possible presence of base metal cyanides in solution. The addition of excess sodium sulphide only precipitated 70 per cent of the silver in solution, adding further evidence to the presence of base metal sulphides. The production of separate silver and gold products was not possible by either preferential leaching, preferential adsorption of gold on carbon or preferential precipitation of silver.

Jan 1, 1991

At the Highway gold deposit, 37 kilometres south of Charters Towers, gold mineralisation occurs in several stratiform layers and is enriched near the surface by lateritic weathering. The host rocks of the mineralisation are ferruginous and baritic, intensely sericitised, kaolinised and silicified rhyolitic tuffs and pyroclastics of the Cambrian-Ordovician Mount Windsor Volcanics. The geology of the deposit is illustrated in Figures 1 and 2.Forty-six reverse circulation percussion drill holes were completed by North-Queensland Resources N.L. for a total of 2,093 metres of drilling to further outline and test the open pit resource. The drilling indicated a resource of 171,000 tonnes averaging 4.4 grams per tonne gold and 5.0 grams per tonne silver.A shallow initial pit, approximately 30 metres deep, has been designed to mine the high grade upper portion of the western stratiform layer and part of the eastern layer. This initial pit is designed to mine 45,400 tonnes of western mineralisation at an average grade of 7.84 grams per tonne gold and 22,200 tonnes of eastern mineralisation at an average grade of 1.42 grams per tonne gold. Waste is estimated at 110,900 tonnes.

Jan 1, 1986

By Kametani H

Since pyrite is a semiconductor, the relationship between the leaching rate and the semiconducting properties is of interest. In order to investigate this relationship, a pyrite concentrate (95% FeS2) was oxidized at 90¦C (363 K) in an acid solution containing 100 g/dm3 H2SO4 and 1.0 to 25.1 g/dm3 total Fe. The suspension potential (Pt vs. SCE) was maintained at the desired values, within the range 0.40 to 0.70 V, by controlled additions of a KMn04 solution during leaching. The results were analyzed using a simplified kinetic expression. The rate constant was independent of the Fe concentration, while it increased with suspension potential. Partly oxidized samples were then prepared at varying fractions of reaction. After removing the elemental sulphur formed, they underwent thermoelectric power measurements using a packed bed lying in a temperature gradient. The value of thermo- electric power increased from about 0 to 30 pV/K in the early stages of oxidation. The results obtained are compared with those for chalco- pyrite reported in a previous paper.

Jan 1, 1987

By Wilson CJN

The central Taupo Volcanic Zone is a region of intense Quaternary silicic volcanism accompanying rapid crustal extension. Modem central TVZ is the most frequently active and productive silicic volcanic system on Earth, erupting rhyolite at c. 0.28 m' s'. The rhyolites show no major compositional changes with time, but the total extent of magma chamber zonation has changed with the advent of rifting and crustal extension at c.0.7 Ma. At least 34 caldera-forming ignimbrite eruptions have formed a complex sequence of relatively short-lived, nested and/or overlapping volcanic centres in central TVZ. Taupo contrasts with other large silicic magmatic systems in the exceptionally high frequency, but small size, of caldera- forming eruptions. This contrast reflects the thin, rifted nature of the TVZ crust, that precludes the development of long- term magmatic cycles at Taupo.Within central TVZ, non-rhyolitic compositions have been erupted apparently irregularly in time and space; in particular there is no evidence for a geographic separation of basalts from andesites. TVZ is a rifted arc, but its segmented nature, high thermal flux and voluminous rhyolitic volcanism make it unique on Earth.

Jan 1, 1995

By Mitchell I, Gelfi P, Dunne R, Pyper R

Dump leaching at Teller in its present form began in the fourth quarter of 1988 as an adjunct to milling operations. Initial plans called for a dedicated dump leach facility capable of processing ore at an annual rate of 2.0 million tonnes. Construction of a dump leach pad, collection and process ponds, carbon adsorption system, elution plant as well as reagent addition and ancillary facilities was initiated in mid-1988. During the course of construction, additional reserves were proven. As a result, design throughput was increased to 4.0 Mtpa. Leach pad capacity and solution supply systems were upgraded to handle the larger throughput. However, the carbon adsorption/elution facilities were not upgraded due to space limitations. During 1990 it was decided to expand the dump leach operation to 6.0 Mtpa. Construction of a second leach pad was required which was initiated in early-1991. Plans were again upgraded prior to completion to a target annual throughput of 10.0 million tonnes was. A further two leach pads have been constructed. The first of these being completed during the latter part of 1992. Construction of the latest and largest pad commenced early in 1994.

Jan 1, 1994

By Parks T. C

A low-grade disseminated nickel sulphide serpentinite ore from W.A. had a relatively high permeability after drying. Various techniques indicated that the permeability resided within a fine network of fibrous vein- lets and especially within coarse cracks along which the sulphides lay. The ore minerals were therefore open to selective extraction by chemical leaching. A IM ammonia-7.8 wt.o "ammonium carbonate" solution, oxygenated at 1 bar oxygen pressure and about 23¦C, released nickel, copper and cobalt from the sulphides, leaving a permeable residue of goethite, while calcium, magnesium and iron concentrations remained negligible in the leachant. The nickel and copper was electrodeposited directly from the pregnant liquor in a deposit which included 16.5 wt.% sulphur. Enhanced copper/ nickel ratios early in the extraction suggested that valleriite (not amenable to flotation) was leached preferentially. Th$ controlling influence of the pore structure was demonstrated by the dependence of leaching rates on the size of the ore particles used, and on the measured porosity of different ore samples. A 2mm size was probably the optimum for exposing sulphides to the leachant. Leaching was accelerated by increasing the temperature and oxygen pressure.

Jan 1, 1974

By Shrivastava P, Humphreys M, Guibal D, Deraisme J

Customer requirements concerning the final products of iron mines are extremely stringent. Because of this, there is an ever-increasing need for mine operators to monitor and strictly control the quality of their product. This quality, as measured by the stockpile grade variability, is the result of a very complex process, where natural characteristics (the orebody and its geology) are transformed through the mining technique (open pit, shovel and truck fleet, blending into stockpile). The only way to reproduce and hence to control the variability of such a system, which is composed of several interactive sub-processes, is by simulation. A complete simulation of a Hamersley Iron Pty Ltd (HI) ore deposit has been undertaken to forecast the impact and cost of various mining methods, mining schedules and product stockpile sizes on variability of chemical and physical characteristics of the products. The mining simulation was made on a conditionally simulated orebody. On a range of criteria, the simulation was considered to fulfil the objectives set and was a valuable aid to analysis of product grade variability, operating and capital costs, selection of equipment, mine scheduling and setting of product grade targets.

Jan 1, 1994

By La Brooy S R, Fenton K

A low grade copper flotation tailing from Telfer containing 1.2% Cu as chalcocite and cuprite and 5 gt-t Au was leached with ammonia, cyanide and ammonia-cyanide mixtures to extract copper and/or gold. Direct cyanidation extracted both copper and gold but consumed about 30 kgt 1 NaCN. Pre-leaching the tailing with an aerated ammonia solution containing 28 kgt 1NH3 and 17 kgtl(NHa)2S0a at pH 10 readily extracted up to 95% Cu in about 6 hours under optimum conditions. However pH and total ammonia concentration were critical factors. Subsequent cyanidation ex- tracted 80% Au using 6 kgt NNaCN. Ammonia-cyanide mixtures werefound to selectively leach gold over copper depending on the concentration and relative proportion of NH3 and CN. The best composition for leaching up to 80% Au from Teller tailing was 1.6 kgt t NaCN and 1.1 kgf 1 NH3 in the presence of 0.3 kgt t Cue+. Such a mixture left only 50 mgL-1Cu in the final solution after precipitation of some of the initially dissolved copper.

Jan 1, 1991

By Watson DF

Calculation of the amount of metal in an ore deposit or mining block should be approached by multiplication and integration of appropriate numerical manifolds describing the spatial distribution of the relevant variables, viz. grade, specific gravity and also thickness for bivariate data. Construction of a numerical manifold necessarily involves some form of interpolation but detailed characteristics of this are often not specified in various automatic methods, some of which even provide manifolds with discontinuities. A manifold used in calculations should describe in a geologically plausible way the spatial distribution of the variable of interest. Different approaches to the problem are discussed and compared. Particular computational inconsistencies emerge when "accumulation" is used as a variable in calculations of average grade. If an ore deposit is variable in relation to its sampling and especially if selection of mining blocks according to grade cut-off is a necessary operational decision, the biases introduced by accumulation methods can bring about serious problems of over-evaluation. Modern computational techniques make unnecessary the use of accumulations; because of potential inconsistencies it would seem unwise to use them in any ore reserve computation.

Jan 1, 1987

The mineralogy, maero- and micro-textures of Thackaringa ore are simple and have many counterparts among base metal-quartz-siderite vein type deposits elsewhere.The ore consists predominantly of galena, sphalerlte, chalcopyrite, tetrahedrite, and arsenopyrite in a quartz and siderite gangue. Silver minerals, as such, appear to be lacking and silver values are no higher than in other sulphide ores of this type. These features contrast very markedly with those of the A.B.H. Consols Lode which appears to have emanated from the north end of the Broken Hill Main Lode Horizon during high grade regional metamorphism. The Consols Lode has been regarded as of Thackaringa type, and both are regarded as possibly arising from the remobilization of Main Lode Horizon ore. Whilst this may yet prove to be so it appears that the marked differences in mineral composition between the Consols and the Thackaringa types, would require somewhat different modes of regeneration.Thackaringa ore, as well as A.B.H. Consols ore, on this basis, would necessitate the development of a metahydrothermal ore fluid to account for their present apparently hydrothermal (or pseudo-hydrothermal) constitution...

Jan 1, 1967

By Gordon N

The in situ behaviour of claystone floors associated with the Wallarah, Great Northern and Fassifem Seams has been studied using a comprehensive suite of stress and displacement monitors. The instrumentation was supplemented by in situ and laboratory testing of the claystone materials. The instrumentation demonstrated that the presence of claystone floors is associated with floor heave, extra rib spall, and settlement of the pillar into the floor. Horizontal floor extensometers showed that the depth of extrusion of clay was limited to 1-2 in. A pore pressure transducer installed in a claystone floor demonstrated the possible existence of short-term undrained behaviour of the claystone. Long term swelling of destressed claystone was also documented. Settlement of pillars into claystone floors can be analysed using simple elastic theory. The assumption of plane strain is valid for most claystone thickness/pillar width aspect ratios. Floor heave can be analysed using bearing capacity concepts. However, it is considered that heave is the result of local bearing capacity failure in the rib spall zone. The advantage of this model is that the bearing capacity equation can be applied without resort to unrealistically high factors of safety.

Jan 1, 1992

By Ranklin W. J

The mechanism and rate-limiting step of carbonaceous reduction of zinc from slags was investigated in the laboratory. Disks of graphite were rotated in ZnO-containing slags at various speeds for fixed periods at 1250 to 1325¦C. The mass loss was used as a measure of the amount of ZnO reduced. Application of the Levich equation indicated that at rotation speeds at which it is valid, the reduction was chemically controlled with an activation energy of 27 kcal/mol. At zero rotation speed the reduction of ZnO by carbon appeared to be slag-phase mass transfer controlled with an activation energy of 38 kcal/mol. An increase in the FeO content of the slag increased the rate of reduction while an increase in sulphur content decreased the rate of reduction. When FeO was present in the slag, reduction appeared to occur by a combination of indirect reduction of ZnO by carbon and by reduction by FeO with reduction of Fe203 back to FeO by carbon. The effect of sulphur was consistent with a surface blockage mechanism due to the surface active nature of sulphur in slags.

Jan 1, 1993

New Zealand contract mining has been well established for close to 50 years. The opencast industry has grown from mining quantities of less than 1 million bcm per year in the 1950s to around 20 million bcm in the late 1990s. Trends here are following those in other countries with mining companies looking to contract out more of the so called traditional mining work. The key driver behind this trend is not unique to the mining industry, but is simply a matter of concentrating on doing a few things well. In the case of the mining company this has come to mean owning and developing orebodies and where appropriate, marketing mining products, and leaving owning and operating of mining fleets to the contractor. This has the effect of reducing risk to the mining company as well as lowering costs. Both can be achieved without losing control of the key elements of the operation. Optimising performance is simply a matter of identifying the key drivers behind performance, having the right plant and the right people at the right place and providing these people with the information they need to manage the operation.

Jan 1, 1997

The LeadtZinc Concentrator at Mount lsa treats all the lead-zinc-silver ore from the Mount Isa Mine and some of the ore from the Hilton Mine. This concentrator was commissioned in June 1966 and total lead-zinc-silver ore treatment was transferred from the Mount rsa's original No 1 Concentrator in May 1967. Plant capacity is around 5 x 106 t/y.There have been three phases of major plant modifications since commissioning:1. replacement and upgrading of the flotation section in 1979; 2. upgrading of the crushing plant and installation of a heavy medium hydrocyclone plant in 1983 for ore preconcentration, and; 3. doubling ball milling capacity and a further upgrading of the flotation section in 1992.Other developments have included the installation of flotation columns and Jameson cells.The evolution of milling practice since 1955 has been reported by Davey and Slaughter (1970), Bartrum, Dobrowolski and Schache (1977), Fiedler and Munro (1984) and Espinosa-Gomez el al (1989).Lead concentrate is smelted in Mount Isa while zinc concentrate and bulk concentrate (locally called Low Grade Middlings or LGM) are railed to Townsville and shipped to custom electrolytic zinc plants and ISP smelters.

Jan 1, 1993

The coal resources of the Singleton- Muswellbrook area of New South Wales are of major importance to Australia, and are likely to play a significant role in meeting the expanding demands for energy in many countries of the world. Coal resources of 45 thousand million tonnes of which 15 thousand million tonnes lie at a depth of less than 200m have been estimated. The history of coal mining in the area commenced in the mid 1800's and has been one of fluctuations in production but of rapid expansion in more recent years. It is destined to become the largest coal producing area in New South Wales. Coal is being won from the area by strip mining, open pit mining and by underground means. The techniques involved are described. The area is well endowed with infra- structure such as modern towns, railways, road- ways and access to port facilities. Production of both coking coal and steaming coal is expected to rise significantly within the next 25 years. A large proportion of the State's anticipated increased production to between 117 and 177 million tonnes by the year 2000 is likely to come from this area.

Jan 1, 1979

By Bloom M. S

Epithermal vein and breccia hosted Au mineralisation at the Kerimenge prospect, in the Wau district, Papua New Guinea, occurs within a block of multiply fractured dacite porphyry of Pliocene age, and is localised on intersecting regional fault structures, marginal to the eroded vent of a Late Pliocene-Pleistocene maar volcano (diatreme).Au mineralisation is primarily controlled by the steeply dipping Kerimenge Fault zone, which hosts a basal zone of silicified breccias,transitional laterally and vertically to networks of fracture controlled veins.Early quartz+pyrite veins, deposited from CO2 rich, NaCl saturated, boiling fluids pre-date the main phase of Au mineralisation. Four stages of Au bearing vein mineralisation have beenrecognised. Quartz+sulphide veins (stage 1) and partially coeval quartz+sulphide+carbonate+ adularia veins (stage 2) occur marginal to silicified breccias, and are associated with quartz+sericite+pyrite wallrock alteration. Similar depositional conditions prevailed for stage 1 and stage 2 mineralisation. Mineralising fluids underwent two stage boiling at temperatures of 145 to 2300 C. Boiling resulted in the loss of approximately 3 wt.% CO to the vapour phase. 2 Fluid salinity was probably I wt.% NaCl or less.

Jan 1, 1990

The nickel ores mined in New Caledonia for one century are mainly silicate ores. These ores are nickel enriched saprolites, formed by partial weathering of peridotites (predominantly harzburgites and some dunites), serpentinised to varying degrees. Saprolites constitute the lower horizon of lateritic soils, sometimes up to 100 metres thick, developed on peneplains now greatly modified by erosion. Saprolites are generally overlain by laterites, a more weathered horizon, where the main components are iron oxy-hydroxides with a low nickel grade. The structure of saprolites depends essentially on the serpentine content of peridotites and, on the other hand, serpentine minerals may have a high nickel content and, so, represent important nickel bearing minerals in silicate ores. Two types of serpentines can be found in nickel ores from New Caledonia: ò primary serpentines, formed by hydration of olivine at temperatures below 400¦C, during overthrusting of peridotites in late-Eocene (Paris, Andreieff and Coudray, 1979), are generally very abundant; ò secondary nickeliferous serpentines, associated with other sheet silicates in garnierites, are now relatively scarce but garnierites were selectively mined one century ago, because of their high nickel grade.

Jan 1, 1996

Gold mineralisation at the Macraes Gold Project is hosted in the Hyde-Macraes shear zone and can be traced for ~30km along strike, although economic resources are confined to a 7 km section in the vicinity of the Macraes township. The shear zone, which typically dips at a low angle (~20 o ) to the NE, is bounded by an upper hanging wall shear and a lower footwall fault. Mineralisation occurs along the hangingwall of the shear zone as well as in low angle concordant shears and stockworks. Ore types include graphitic cataclasites with variable amounts of quartz veining, ælode schistsÆ and quartz-vein stockworks. Rehabilitation at the mine has focused on creating an environmentally benign site dominated by pasture to allow continuation of the traditional pre-mine farming economy. Changing regional economics, continued urbanisation and a reduction in traditional employment opportunities has seen a rethink in the long-term rehabilitation outcomes. The community has recognised that the rehabilitated site will provide the basis of a viable tourism venture and the creation of a Heritage and Art Park (working title æGolden Point ParkÆ) is the culmination of that process.

Jan 1, 2002