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Companies involved in the mining industry are exposed to risks, referred to as corporate risks, as part of the business process. Directors and management should be aware of these risks and make appropriate business decisions to address each risk. If business risks are not addressed on a timely basis the consequences are likely to be serious and will adversely impact the ultimate success of the business.The key corporate risks are:Poor cash flow and treasury management. ò Incompetent or unmotivated staff.ò Poor product quality.ò Accounting systems that do not provide meaningful and timely information.ò Computer system deficiencies. ò Ineffective credit screening.ò Assets not adequately protected.ò New ventures undertaken that are either inappropriate or not adequately researched.Exposures to corporate risk should be dealt with by Directors and management by systematically identifying major risk areas and implementing appropriate internal and management controls to deal with such risk areas. Proper management controls and procedures include the setting of overall corporate objectives and policy, monitoring adherence to such policy, establishing early warning systems to highlight problem areas and maintaining security over assets.

Jan 1, 1990

Both here and in Australia, the unique commercial and tax features of joint venture are finding favour in forestry, fishing, technology and infrastructure projects. For New Zealand mining companies, joint ventures provide a means of access to foreign know how and investment funds, while retaining their corporate independence and their hard-earned tax losses.   This paper discusses some of the practical income tax and GST considerations where a joint venture structure is contemplated. The first part of the paper considers income tax, and in particular how joint ventures enable companies to access and carry forward tax losses. It explains why a joint venture may be advantageous relative to a jointly owned company.   The second part of the paper concerns GST and the focus is on two aspects: 1.   Joint ventures may be registered for GST. In some instances they have no choice and are required to do so. Where a joint venture is registered in respect of a taxable activity, the members are not permitted to register in respect of the same activity. This may be problem where the member has incurred its own expenses and the member wishes to register in its own right to claim back the GST on those expenses. This paper explores the issue and possible solutions. 2.   It is not uncommon to see joint ventures claiming GST on the costs of production, and the production being sold (and GST is being charged) by the members. In this paper we consider whether these arrangements have a tax risk, and what can be done to make them technically sound.

Jan 1, 2005

By C M. Wawryk, S L. Garwin, J D. Foden

"An EXTENDED ABSTRACT is available for download. A full-length paper was not prepared for this presentation. The Batu Hijau porphyry Cu-Au deposit in south-western Sumbawa, Indonesia is an ideal natural laboratory to study the fractionation of iron isotopes in magmatic rocks that range in composition from basaltic andesite to tonalite. Intrusive rocks are associated with a porphyry system that contains well-preserved early hypogene copper mineralisation. We analysed pre-, syn- and post-mineralisation igneous intrusive rocks. We also separated magnetite, chalcopyrite and bornite from hypogene porphyry-style quartz veins, and measured the Fe-isotope ratios of samples by solution multi-collector ICP-MS. Iron isotopic composition of samples from the magmatic suite show an increasing d57Fe with increasing SiO2, supporting geochemical and textural evidence that the Batu Hijau Tonalites underwent closed system fractionation. Equilibrium and co-existing mineral textures allow the calculation of the following preliminary empirical mineral-mineral fractionation factors at 500°C for certain mineral pairs.Iron isotopes have the potential to provide geothermometric data to complement fluid inclusion data, especially where heating stages have operational limitations and where fluid boiling results in a wide variety of inclusion types that may make analysis difficult.CITATION:Wawryk, C M, Foden, J D and Garwin, S L, 2015. Iron isotope fractionation in magmatic-hydrothermal minerals – a porphyry copper case study from the Batu Hijau deposit, Sumbawa, Indonesia, in Proceedings PACRIM 2015 Congress, pp 389–396 (The Australasian Institute of Mining and Metallurgy: Melbourne)."

Mar 18, 2015

With some notable exceptions, marine placers located just below, or just above, present sea level, are responsible for much of today's production of detrital ilmenite, rutile, zircon, and other minerals of value. The purpose of this paper is to discuss the paleogeographic and paleo-oceanographic factors which may have determined the location of presently submerged marine placers. These factors include changes in sea level, burial by recent marine sediments, stream capture and other changes in drainage patterns, and recent changes in climate. Selected geologic situations in the Yellow Sea off the coast of Korea, in the Atlantic Ocean off the coast of Portugal, in the Bering Sea off the coast of Alaska, and in the Arabian Sea off the coast of India, will be used to illustrate the author's point of view.

Jan 1, 1971

The suitability of char from Yallourn brown coal as a filler for carbon electrodes used in the aluminium smelting industry has been assessed on the basis of the specifications usually laid down by electrode manufacturers for petroleum coke fillers. The purity specifications can be met by a simple acid leaching of the coal before carbonization. The true density of char produced at 1200°C is within 5 per cent of the specification figure, but the bulk density of char obtained from as-mined coal is only half that specified for petroleum coke.Although this can be increased to three-quarters of the specified figure by briquetting the coal before carbonization, further increases would be very difficult to achieve, as the remaining shortfall in density is due to an extensive microporosity developed in the particles of char during carbonization.

Jan 1, 1970

By S Hapugoda, M Kilburn, M Adam, L Lu

Lump ore is one of the key ferrous materials used in the blast furnace ironmaking process, typically accounting for 5–25 per cent of the blast furnace ferrous burden. Like other ferrous materials, the characteristics of lump ore have an important impact on stable operation and productivity of a blast furnace. As the cold burden lands on the top of the hot burden in the furnace and descends, it is inevitably subjected to thermal shock, which will likely lead to breakdown of the lump particles, or decrepitation and affect the gas permeability inside the blast furnace adversely. An ISO decrepitation test has therefore been developed to assess this behaviour of lump ore. However, the results obtained according to the existing standard decrepitation test method vary considerably between laboratories even for the same lump ore. To improve the test procedure of the existing decrepitation test, this paper first discusses the mechanisms leading to decrepitation and then studies the factors affecting lump ore decrepitation. Understanding the key factors affecting lump ore decrepitation is particularly important to improve the existing test procedure that enables researchers to achieve a higher degree of precision when conducting the decrepitation test.CITATION:Lu, L, Adam, M, Hapugoda, S and Kilburn. M, 2017. Decrepitation of lump iron ores, in Proceedings Iron Ore 2017, pp 91–96 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Jul 24, 2017

By Y D. Jeon, K S. Kim, C-H Eom, C M. Yoon

The carbon neutrality continues to require reduction of carbon usage in ironmaking and steelmaking processes. Specially, it is expected that the hot metal ratio (HMR) in the steelmaking process should be reduced essentially. Unfortunately, the reduction of the HMR in converter can bring about poor environment for nitrogen removal from molten Fe. From this situation, nitrogen prediction model has been developed to understand the fundamental of behaviour of nitrogen and quantitatively interpret its content changes in the converter process. Thermodynamic and kinetic approaches were improved based on existing mathematical model and attempted to predict nitrogen content in realtime by combining process data. In present study, heat supply from the oxidation (mainly carbon and silicon) and CO evolution in the converter are considered, and scrap melting due to the heat transfer from the molten Fe to the solid scrap charged in the converter also be considered.

Aug 21, 2024

From the ventilation aspect, there is a basic difference between advancing and ezreating longwall layouts. Particular rroblems with retreating, using differing mining methods and layouts include high gas emissions, spontaneous combustion and -radients. There is an acceptable method of crntrolling the environment at the return end a retreating longwall face without the use a multiple heading system. Incorporated in the design is the facility to practice xtensive methane drainage, thus ensuring a ntrol of the rate of methane emission into the main roadways. Case studies highlight varying mining editions under which the proposed system of Ctised.

Jan 1, 1982

This paper describes certain analytical methods used at the Rosepery Mine and Treatment Plant of the Electrolytic Zinc Co. of Australasia Ltd., which are not generally in use and may therefore be of more interest than a description of the normal routine methods which are used in most of the mining assay laboratories of the Commonwealth, and which have been published previously.The ore mined and treated at Rosebery is of a complex nature and demands closer control in the concentrating plant than is necessary on some other similar mining fields.It is necessary for the mill shift supervisors to keep constant control on the grade of lead and zinc concentrates produced on their respective shifts, and further, it is essential to maintain an economic compromise between grade of concentrates and the recovery of the particular concent:t:ate. This necessitates a more frequent check on concentrate grade tp.an is provided by the daily assays carried, out by the assay office. Rather than employ trained ,assayers on shift work, "quick methods" of analysis, which could be carried out by the operators, 'were adopted.'In such methods, it is desirable that the necessary manipulation should be reduced to the following:-a. Taking the sample, drying and mixing.b. Weighing the necessary amount of sample-for assay.c. Adding the reagents for use in the assay without change of beakers.d. Titration and calculation.Such a contraction of, the normal technique would be impracticable for many determinations, but in the case of lead...

Jan 1, 1949

By P D. Williams

The Phoenix mine is one of NewmontÆs open-pit operations located in Nevada. Mining started in 2005, with the mine producing gold, copper and silver. The mine life is about 20 years. The gold grade estimation uses the Newmont in-house indicator kriging approach to handle the high variability in drill hole composite grades and support mining selectivity. Each block contains up to 200 subblocks with different gold grades. A flotation mill is designed to process oxide and sulfide ores, recovering gold, copper, and silver. An additional copper leach process is currently under study to process low gold and high copper oxide material with low copper recovery in the mill. The metallurgical recoveries and processing costs are dependent on many variables including rock formation, metallurgical domain, cyanide soluble copper and sulfide contents. This paper describes the Newmont in-house indicator kriging procedures and the revenue based mine planning software system implemented at Phoenix mine to address the complexity resulting from multi-process, multi-metal and indicator kriging model.

Jan 1, 2007

A major problem in the continuous casting of aluminium killed strip steel is the incidence of black and grey lines in the strip surface caused by the alumina inclusions. One place for limiting the number of alumina inclusions is by providing favourable fluid flow conditions in the ladle so that the inclusions float out to the surface or adhere to the ladle wall. In laboratory equipment 20 kg of steel was melted in an alumina crucible of 14 cm diameter in an induction furnace. Deoxidation was carried out while the melt was constantly stirred by argon bubbling. Bubble frequencies were measured at the lance tip using a microphone technique. High speed cine photo- graphy was incorporated to measure melt top surface velocities. Experimental results indicate that the rate of removal of inclusions is a function of both the gas input and the power input. However due to unfavourable surface area to volume ratio, reoxidation of the melt took place. Some other experimental difficulties in working at high temperatures are also discussed such as lance design, melting arrangement and sampling techniques.

Jan 1, 1984

A vital ingredient in ensuring that metals exploration companies, working in the developing countries of thePacific Rim, support the development of national geologists is making such a learning program cost-effective. There is a wide spectrum of learning needed in the development of these explorationists: the technical and conceptual skills to carry out exploration efficiently, the professional and managerial skills to apply the exploration in the work situation, the personal attributes required to manage their exploration effectively, and a company organisation that allows them to learn and use these skills and attributes.

Jan 1, 1995

Many mining operations are uncertain of what costs they should be achieving. The majority of cost estimates are based on historical costs that have added contingency factors. Historical costs are a valuable source of information but a more precise costing method is necessary. There are several alternative methods for predicting costs. A methodology which provides the best indication of the achievable costs is one using a standard inventory list and a bill of quantities. The model is termed a Basic Principles model and addresses basic design principles and engineering constraints.

Jan 1, 1990

The Amacan Copper Project was constructed in the Philippines by a Finnish-Filipino Consortium during the years 1979 - 1982. The project involved a turnkey contract for a mine and a concentrator to process 25 000 tonne per day of porphy- ritic copper ore at a grade of 0.45% Cu. The orebody is located on Mindanao, the southernmost island of the Philippines, in rugged, mountainous terrain approximately 1 000 m above sea level. The adopted design principle was based on an efficient, straightforward installation utilising a minimum number of items of equipment each with high unit capacities. The consortium faced many problems which resulted in lengthy delays in construction and finally led to the client taking over responsibility for the completion of the project. The concentrator was successfully commissioned in July 1982.

Jan 1, 1986

Ensuring the success of a major resource development project, whether in the Gippsland Basin or elsewhere, is typically both a complex and costly process. It is therefore imperative from the point of view of the proponents of such a project - and in particular the financiers - that everything possible be done to minimise administrative confusion and delay in the establishment phase of the project, and to put systems in place which enable the project to run smoothly and efficiently in the later stages of its development and operation. An essential element in this process is ensuring that the project management is able to come to terms with and deal effectively with the relevant planning and environmental laws.

Jan 1, 1992

While convergence of plates at a subduction zone produces shortening at the toe of the overriding plate, this deformation is localized to the frontal 100 km or so of the plate. There is increasing evidence that the state of strain in back-arcs, volcanic arcs, and possibly the entire forearc is extensional. The most likely cause of this extension is rollback of the subducting plate and trenchward advance of the overriding plate. Arcs are thermally weakened, and are activated repeatedly through time. The primary expression of the extensional state of strain is spreading of the weak arc material, either by splitting the arc or by back-arc spreading behind it. This study presents evidence for extension of volcanic arcs from an analysis of the moment tensors of shallow earthquakes (

Jan 1, 1990

By Baafi EY

Deposits of gold, silver and other precious metals often display a high variability of grade values, usually a very low average metal content and are frequently not easy to sample reliably. The characteristics, together with the volatility of precious metal prices, make evaluations of precious metal deposits extremely difficult to make. Geostatistical estimation techniques can be used to make grade estimates of precious metals and to assess the reliability of these estimates. Two case studies are presented.

Jan 1, 1987

THE Broken Hill mining field, approximately 31 miles in length, is at present being exploited by seven companies, viz. : North Broken Hill Limited, Junction North Broken Hill No Liability, Broken Hill Proprietary Block 14 Company, Broken Hill ProprietaryCompany Limited, Sulphide Corporation Limited, Broken Hill South Limited, and Zinc Corporation Limited.The variation in size and shape of the ore-bodies in the mines of these companies, together with the many alterations in pitch and dip, necessitates differences in methods of mining, each company working out its problem in its own particular way.In the matter of chute construction for the handling of the ore broken in the stopes, each mine belonging to the above companies has adopted a style particularly its own, though it may be said that one or two of the types approximate very closely to each other, slight minor differences only being noticed in the design. It is the purpose of this paper to give a brief description of the principal types of chutes now in use in th,e various mines on the field, and in doing so they may roughly be classified into three groups, viz:1. Bulk Chutes, 2. Circular Chutes, 3. Square-set Chutes.The Bulk type of chute is used in the North and British mines of the North Broken Hill Limited, the Central and Junction mines of the Sulphide Corporation, the South Blocks mine of the Zinc Corporation, and the Block 14 mine.The Circular type of chute is used by the Broken Hill South mine and the South Blocks mine.The Square-set chute is used in the Proprietary mine, the Junction North mine, and occasionally in other mines where the square set method of mining is a necessity, and more particularly as mullock passes.

Jan 1, 1925

Marble deposits of dolomitic variety are available in large quantities in India and for extracting these deposits diamond wire saw cutting machine is mainly used. Cutting performance of the diamond wire saw machine depends on rock parameters, machine parameters and operational parameters. Rock parameters related to physico-mechanical properties, such as, compressive strength, tensile strength, shear strength, modulus of elasticity and abrasion resistance of marble play role in determining cutting rate and beads wear rate. Thus, this study was undertaken to determine the relationship between different physico-mechanical properties and cutting performance. This work also aimed at enhancing the cutting performance of diamond wire saw in dolomitic marble deposit. Study was conducted in the field at three different zones having deposit of soft, medium hard and hard dolomitic marble. During the study, cutting rates and wearing of diamond beads were recorded in the field. Physico-mechanical properties were determined in the laboratory. The results obtained were subsequently evaluated by using statistical analysis. Study revealed that these properties of marble play a significant role in the performance of diamond wire saw machine. Predictive equations for the wearing of diamond beads and cutting rate were developed based on regression models. Results of this study will be of ample use for operators of wire saw to achieve maximum cutting performance and for manufacturers in designing the diamond beads.

Dec 6, 2010

By A S. Derrington

There are several long-standing rules of thumb that are often quoted in mine ventilation studies. They include airway ‘carrying velocities’ and the critical upcast air velocity range that must be avoided to prevent a water blanket forming. Quoting these rules of thumb may lend an air of legitimacy to a ventilation design, and allow the design engineer to avoid having to study a problem from first principles. But how valid are these shortcuts in today’s rapidly changing world? This paper summarises research into the genesis of several commonly quoted rules of thumb. It finds that they were very specific to the local conditions, practices and economics at the time they were developed. It also presents examples where applying these rules of thumb outside of their original context can lead to unexpected and erroneous results.CITATION:Derrington, A S, 2017. Ventilation rules of thumb – friend or foe? Focusing on design upcast air velocities for shafts and raise bores, in Proceedings Australian Mine Vent Conference 2017, pp 253–260 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Aug 28, 2017