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By J Joy, A Bye, G V. Kizil

This paper demonstrates an application of a recently developed Risk-Cost-Benefit (RCB) Framework to environmental risk management in the mining industry. The environmental application of the RCB Framework as part of an ACARP project (Kizil, Bye and Joy, 2012) involved a thorough selection process with site visits and in-depth discussions with the case study siteÆs environmental management team. Under their guidance, the highest risk of environmental impact at the case study site was identified as æroad subsidenceÆ at the time when the project work was undertaken. This paper presents the unique application of the RCB Framework to examine the risk of mining-induced subsidence and its impact on one of AustraliaÆs busiest highways, with a traffic volume of 38 000 vehicles per day (NSW RTA AADT, 2008). The RCB Framework was employed to assess the optimum group of controls for road subsidence risk management to ensure highway availability while mining occurs. Whilst this paper focuses on road subsidence, the methodology employed can be directly applied to other environmental concerns including preparation for mine closure, rehabilitation planning and waste management. The RCB Framework incorporates mathematical modules which were developed to enable complex yet tightly integrated RCB calculations. The process integrates the risk-control effectiveness assessment to determine that the selected safety initiative is financially beneficial to the mine site and company. This concept has been applied to a number of high-risk mining areas targeting safety, productivity and environmental issues. This paper introduces the five-staged RCB Framework, incorporating the RCB tools RCBGEN (Risk-Cost-Benefit Generator) and RCEMETHOD (Risk-Control-Effectiveness Method), and demonstrates its practical application to the risk management of a road subsidence case study. The case study looks at potential pavement damages, in particular, the occurrence of pavement stepping on the surface of the highway as a result of vertical subsidence. This type of road damage was previously experienced at another major inter-city route while underground mining occurred in the region where the case study site is located. The RCB Framework has been successfully applied to the analysis of the road subsidence case study and determined the risk reduction and financial benefits of implementing a range of risk-controls. User-friendly RCB Charts to provide an aid for decision-making were produced. The value of using the RCB charts to achieve balance between risk, cost and productivity in the decision-making process for risk management has been explained. The case study determined that pavement slots and fibre-optic cable monitoring were relatively low-cost and effective controls applied in the mining industry for the first time at a global level.This paper supports the industryÆs ongoing efforts to manage risk to ALARP (as low as reasonably practicable) and achieve æzero harmÆ by providing a new Framework to more effectively establish the adequacy of controls.CITATION:Kizil, G V, Bye, A and Joy, J, 2012. Application of risk-cost-benefit analysis to highway subsidence due to mining, in Proceedings Life-of-Mine 2012 , pp 197-206 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Jul 10, 2012

In terms of tunnelling the mining industry is generally thought of as the crude cousin of the civil construction industry. Mining has tended to concentrate on speed and flexibility rather than the high standards required in civil tunnelling. Historically this difference has been based on the belief that such high standards were not required by the mining industry, they would slow down the development of the project and as a result increase the costs and extend the time period between start up and a positive cashflow.For civil works the construction of a tunnel is the project, for mining the construction of declines, crosscuts and drives are merely the means of accessing the orebody so that the real work can begin û MINING. Extraction of ore is the core business of most mining companies û it is what pays the bills.Though most mining companies have the equipment, the people, the knowledge and the ability to excavate tunnels, in the past mining companies did not appear to put the same energy into their tunnelling operations as they put into improving their ore extraction operations. In the past decade this appears to have changed, many mining companies now realise how important the correct excavation of a decline is to the success of the overall mining operation. They began to recognise that there were cost benefits to be gained in using the correct development techniques without overly sacrificing the benefits of speed and flexibility.This recognition also coincided with the growth of underground contractors whose predominant work was primary development (declines and ore access crosscuts and drives). The contractors again had the same knowledge, the same people, and similar equipment but their focus was different from that of the mining company û the contractors were focused on the development of the mine, the excavation of declines, crosscuts and drives. These deliverables were the contractorsÆ core business û itÆs what paid the bills.

Jan 1, 1999

By L. R. MURPHY

This paper gives a general description of mining operations at the Rosebery Mine and a brief account of the older Hercules Mine. The more unusual aspects of the operations, such as the sinking of the inclined shaft, blast-hole experiments, diamond drilling practice, and proposed future developments are described in detail.The following main heads are used:Roseberry- General production Data.General Description of Ore-body, and Characteristics of Ore and Country Rock.Layout of MineMining Methods, Filling, etc.Blast Hole Stoping.Sinking Main Inclined Shaft.Mining Timber. Contract System.Diamond Drilling and Sampling.Surveying.Labour Force.New Developments, Sand Filling and Pumping.Hercules-Situation of Mine.Transport-Haulage and Aerial.Ore Bodies.Stoping Methods.Ore Handling.

Jan 1, 1949

By D Hope, D K. Mukhopadhyay, J D. Harvey

South32 (S32), a globally diversified mining and metals company, is listed on securities exchanges around the world (ASX, JSE, LSE), with its primary listing being on the Australian Securities Exchange (ASX). Chapter 5 of the ASX Listing Rules (Australian Securities Exchange (ASX), 2019b) requires a mining entity to provide a summary of governance arrangements and internal controls with respect to its estimation processes, estimates and reporting of Mineral Resources and Ore Reserves annually. As a global company, it is also important to design and implement all governance processes and internal controls which can be used consistently across the organisation. The three lines model (previously known as the ‘three lines of defense’ model) is employed across South32 to manage risk where the first line (Practitioners) designs, implements and executes processes and controls to manage risk; the second line (Stewardship) identifies material gaps and improvement opportunities in the first line by monitoring conformance with the group requirements, legislative and regulatory obligations. Second line also assists with the development and improvement of core fundamentals based on industry good practise. The third line (Group Assurance) provides independent and objective assurance over the Group’s system of risk management and control. The estimation of resources and reserves for most of the operations within South32 is managed by the Planning function. The estimation process is part of the annual Life of Operation Plan (LoOP). The LoOP identifies and assesses the strategic alternatives for the development of an operation and recommends the preferred pathway based on value and risk. The LoOP starts with opportunity framing and the updated resources as an input and ends with the short-term plan and annual budget (the outputs). Ore Reserves estimates are one of the outputs from the LoOP. All the inputs and outputs follow internal standards and procedures which includes peer review and performance reconciliation. Stewardship (Second line) which is a centralised function has standards in place to ensure compliance to internal controls and external regulatory requirements. This includes assessment of the competence of Competent Persons, technical reviews, independent audits and training in the relevant chapters of the ASX Listing Rules, Guidance Notes and Appendices. Group Assurance (Third line) which reports to the Risk and Audit Committee of the Board of Directors ensures the design and operating effectiveness of the processes, standards and procedures associated with the estimation and reporting of resources and reserves. While the level of scrutiny has a different intent for each line in the three lines model, the overall purpose is to achieve a consistent outcome across the organisation

May 24, 2023

By E Widzyk-Capehart

The mines of the future can be envisioned as complex, large-scale technological systems being operated remotely from few centrally located (major cities) operating centres and skeletal crew stationed at the site. These systems will require remotely located human operators to constantly adapt to new and unforeseen system and environmental demands. In addition, the remote operators will need to match system properties to the changing demands and operational conditions, ie must be able to handle the ‘non-design’ emergencies, because the system designers would not have been able to foresee all possible scenarios of failures and provide automatic safety devices for every contingency. Therefore, it is highly important that the operators’ job, which involves problem solving and decision making at the workstation level, is facilitated by the proper interface designs. This paper argues that decision support systems and thus human-system interfaces for the mines of the future should be developed based on the principles of human-system integration that take into account human information processing and cognitive abilities. The information presented to the operator must support the operator in taking appropriate action through a human-system interface designed according to scientific principles of User Centred Design. A case study is presented where an iterative design process was used by CSIRO researchers as an evaluation method involving users (control room operators) at several stages of the user interface design in order to correct any design inadequacies as they emerged. This process allowed the designers to identify any usability issues before the user interface was fully implemented, which subsequently enabled the control room operators to easily adapt to the new interface and carry out all designated tasks in a timely and effective manner.

Nov 22, 2011

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

By M Dunglison, P M. Cameron

Simultaneous mass-balancing of a mineral processing flow sheet results in adjustments to each data point that reflects the accuracy and precision across the full set of data. In this way, all the good work that goes into designing the sampling and analysis protocol for each sample point is leveraged in order to produce a æbetterÆ set of balanced numbers for every sample point in the circuit. Few operating plants employ whole of circuit balancing techniques to produce reported operating results. This situation is changing with the application of mass balancing technology which utilises redundant data for production accounting and metal reconciliation from product to ore source across multiple phases and multiple time periods. Mine and plant data can now generate credible information to improve productivity. Mine and plant personnel can now use consistent data sets for review and planning. Decisions based on balanced data can be made quicker and with increased confidence.

Jan 1, 2005

By R Kjar

Globally, it is anticipated that the mineral sands industry will enter a period of short supply. Demand for both titanium dioxide and zircon is forecast to continue increasing, with new projects needed to come on-stream to fill the supply gap. Victoria is well placed under this scenario as a source due to the high quality of its mineral assemblage, its excellent resource grade and the globally significant size of its mineral sands resources.Australia’s mineral sands rich Murray Basin remains under-developed, especially at its extensive Victorian margins. Development to date has not progressed adequately for the reasons of technology difficulty, history of competition with other jurisdictions and the absence of a platform that requires development as a consideration for security of tenure. Victoria’s mineral sands potential is not just about the Murray Basin, in addition, there have been discoveries in the Gippsland Basin and prospective sites in the Gippsland Basin remain under-explored. Key problems included the lack of available ground for potential developers and the intellectual property of solutions to technological problems associated with the fine grained mineral deposits belonging to a previous developer (with patents now expired).As such, the timing is right to re-visit the potential of the Murray Basin as a site for long-term development with high returns based on current and predicted prices.In order to understand why Victoria’s earth resources in general, and mineral sands in particular, remain under-explored and undeveloped, the Department of Primary Industries initiated an internal review of its role in encouraging and supporting investment in the earth resources sector.As a result, the Victorian Government has committed to taking action to encourage effective ground turnover and acknowledges that a new focus on engagement with industry is needed to bring new investment to the State. The revision of the Mineral Resources (Sustainable Development) Act 1990 provides an opportunity for the government to better align its legislative processes with industry project lifecycles and facilitate access to valuable resources that currently remain undeveloped.Victoria has a track record in assisting projects reach development stage. Iluka currently has two operations in the State in addition to its mineral separation plant that is capable of processing HMC from its South Australian operations. Iluka is expected to ramp up its Murray Basin Stage 2 operations with the WRP mine scheduled to come on line in early 2012. Meanwhile, Astron is actively seeking partners for its Donald Mineral Sands project. The project is becoming increasingly attractive given the recent price hike in zircon; Astron has access to an estimated five to 6 Mt of zircon in its Donald WIM 250 deposit.Given its substantial and valuable mineral sands endowments, the State of Victoria should sensibly be the centre of future investment in project development. However, as previously mentioned this is currently not the case. The Government is therefore committed to implementing new measures that protect security of tenure but ensure that genuine companies can access endowments where they have a clear intent to work those resources.

Oct 5, 2011

By D Kent

The introduction of digital technologies into the underground mining industry, in both coal and hard rock mining, has enabled many high bandwidth applications to be adopted by mines.Digital networks based on 802.11 b/g/n open Wi-Fi standards allow for many applications to be run over a single communication backbone. One important application has been tracking personnel and equipment via RFID tags. This tracking application has in turn formed the basis of a Proximity Detection System (PDS) or Collision Avoidance Systems (CAS). The paper discusses the growth in digital technology as the communication backbone in underground mines which has allowed the ‘convergence of technologies’ that has been occurring in the general business world to be available to underground mine operators. Then the paper will focus on the use of the technology in the increasingly important are of risk control around mobile plant underground. The specific use of digital devices for proximity detection, in both hard rock and coal mines, to provide a system that can deliver an additional level of control to the risks associated with people-vehicle interactions underground is discussed. The initial implementation of PDS in the hard rock mining environment is based on two zones of detection, required for large and relatively high speed vehicles. Information will include:•the principles of the underlying technology,•installation learnings and effectiveness, and•change management methodology and issues.The most recent development to integrate Mine Site Technologies (MST) PDS with Frederick Mining Controls’ HazardAvert® System to extend the overall Proximity System’s functionality in hard rock mines and for use in coal mines is overviewed.

Mar 21, 2011

By M Carr, C Wheeler, M Lurie, B Chen

The demand for steel products in modern society is prompting the iron ore industry to optimise their operations to ensure sustainability of fines and lump products. One of the key components in the iron ore transportation chain are belt conveyors. The energy consumption of modern belt conveyor systems has reduced considerably over the past few decades, however, there is still significant scope for further reductions, especially when heavily loaded long overland belt conveyors are considered. A new rail based continuous bulk material transportation system has been developed by researchers at the University of Newcastle to reduce the energy consumption of heavily loaded and long overland conveyors. The Rail-Running Belt Conveyor technology is a state-of-the-art continuous belt conveying technology which provides an innovative and novel departure from conventional continuous bulk material transportation systems with significant energy and economic benefits. This paper presents an overview of a Rail-Running Belt Conveyor variant which considers an enclosed belt. Enclosed belt conveying has the benefits of encapsulating the bulk material, and thereby reducing dust emissions and moisture ingress, in addition to being able to negotiate smaller radius horizontal and vertical curves leading to greater flexibility. To quantify the primary differences between conventional conveying technologies, the Denver office of thyssenkrupp Industrial Solutions (USA) developed a case study for an 11 km long conveyor. The conveyor design throughput was 2750 t/h and included a small net elevation loss of 10 m. When considering CAPEX the Rail-Running Pipe Conveyor equipment supply cost is approximately 45 per cent of the cost of a conventional pipe conveyor, while savings upwards of US$50M emerge for CAPEX combined with five years of OPEX. The savings vary with the topography and density of the bulk commodity, with iron ore generally showing increased savings because the high bulk density increases rubber losses in conventional conveyors.

Nov 8, 2021

By J Edman, RáBeamish, G Cambourn, B Beamish

Moist Adiabatic Benchmark (MAB) and R70 testing have been applied to core samples of a multiple seam sequence from a borehole at the Doyles Creek Project. The coal samples range in rank from high volatile B bituminous to high volatile A bituminous, with a general increase in coal rank as depth increases in the borehole. The intrinsic coal reactivity to oxygen decreases with coal rank as indicated by the R70 values. The time taken to reach thermal runaway shown by the MAB testing however is strongly modified by the interaction between the intrinsic coal reactivity, the moisture content of the coal and the retained gas content of the coal. This is clearly demonstrated by the lowermost seam of the sequence. The MAB test for coal from the Whynot Seam took 20 days to go to thermal runaway, which projects to heating issues taking between eight to 12 months to occur for loosely piled coal found in coal roof falls or a longwall goaf and uncompacted stockpiles, assuming sufficient air is available for coal oxidation. The results from this project illustrate leading practice for the operational planning and development of an appropriate spontaneous combustion management plan (SCMP).CITATION:Beamish, B, Cambourn, G, Lewis, G, Edman, J and Beamish, R, 2013. Application of leading practice spontaneous combustion assessment to exploration at the Doyles Creek Project, in Proceedings The Australian Mine Ventilation Conference , pp 293-298 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Jul 1, 2013

By L L. Kuhar

The AMIRA International P843A Geometallurgical Mapping and Mine Modelling (GeMIII) project is an interdisciplinary research collaboration between 17 global mineral companies and four research organisations aimed at providing support for the emerging industry trend of geometallurgy. The main aim of the project is to develop predictive geometallurgical indices which can be incorporated into a resource block model to maximise the commercial value of an orebody and to minimise the social and environmental impact of mining operations.Researchers at the Parker Centre/CSIRO have been focusing on the development of predictive hydrometallurgical indices for the GeMIII project via rapid, small-scale, cost-effective tests and protocols for comparative ranking of attributes relevant to leach performance. The focus of the small-scale leach tests has been to determine the leach index (relative indication of leach performance), recovery, impurity deportment, reagent consumption, effect of size/degree of liberation and mineralogy of samples for their relative ranking. Predictive tests for heap leach hydrology (related to agglomerate characteristics) and slurry rheological behaviour are also being developed.

Sep 5, 2011

The Graham Farmer Freeway Project in Perth, Western Australia, is the largest urban infrastructure project ever carried out in the State. At a project cost of over $360 million, it also ranks as one of the largest in Australia and is even large by world class standards. The project provides a much needed east-west freeway bypass around the CBD of Perth, linking the Great Eastern Highway in the east with the Kwinana and Mitchell Freeway system in the west. The Bypass will have 6.5 kilometres of freeway, a major bridge over the Swan River, several pedestrian overpasses and underpasses, dual use paths, interchanges and flyover bridges and a rail tunnel. The whole project is being carried out over a four-year time frame, due to be complete and open to traffic in June 2000. The project has been divided into two stages, with Stage 1 including the 1.63 kilometre long Northbridge Tunnel, the subject of this paper.

Jan 1, 1999

In todayÆs evolving and globalised world, mining companies are being pressured to move beyond compliance towards long-term sustainability and sustainable development. Companies are expected to æengageÆ communities and measure the success of these engagements without a clear understanding of æhowÆ to do this. This move, away from compliance, develops more of a focus on sustainability and æcommunityÆ social responsibility rather than corporate social responsibility. This shift leads to the development of world-class projects that provide sustainable development for people, reduce the incidence of costly delays, and promote good global citizenship for companies. The process of æengagingÆ communities in mining project design and development leads to sustainable development, a stronger license to operate, and a reduction in social and political risk. To create this mutually beneficial relationship between communities and companies, communities must be æengagedÆ in the project development and risk assessment processes as early as possible, preferably during the exploration or the concept phases. How to create this æengagementÆ and manage this risk will be discussed.

Jan 1, 2007

By E Nik, A Manzoori, H Namavari, P Witt

The smelter building at Sarcheshmeh Copper Complex, Iran, houses two reverberatory furnaces and five Pierce-Smith converters. Under normal operating conditions SO2 emissions fill the building, posing a major health problem for all workers in the building, and reducing their ability to maintain the plant. The converter fume extraction system was analysed using plant measurements, engineering modelling of the entire system and CFD modelling of the extraction hoods. By applying fundamental engineering concepts, a user-interactive computer program was developed that enabled plant engineers and operators to gain a detailed understanding of the system. In conjunction with plant measurements, the model quantified the amount of inleakage throughout the system, identifying it as a significant contributor to the poor extraction performance. Furthermore, it enabled investigation of the effects of hood gates, converters on line, hood dampers, flue insulation, electrostatic precipitator (ESP) operation, and inclusion of an acid plant. The model gave unprecedented insight into the operation of a counterintuitive buoyancy-driven extraction system.

Jan 1, 2004

By R Moreby

This paper is a demonstration of the techniques developed during an Australian Coal Association Research Program (ACARP) funded research project aimed to develop aids, principally computer based, to assist mine personnel to more efficiently manage significant incidents in coal mines. These aids include software to aid in the location of the incident, electronic information storage and retrieval, online site emergency response manuals and software to aid in decision-making.

Jan 1, 2005

By G K. Robinson

Variations in many aspects of physical and chemical grade are often of concern to mining operations and mineral processing plants. In most circumstances these amounts of variation are predictable. At the time of planning new operations, we should be able to predict the amount of sampling and testing variation which our sampling devices, laboratory procedures and on-stream analysis devices will achieve. We should know how well our stockpiles, reclaimers and bins will homogenise material (or whether segregation will actually increase the amount of variation). We should be able to predict the amounts of variation that will occur on the important time or tonnage scales at the crucial p oints in our proposed operation. And once these amounts of variation are reliably known, mine planning will seem a little bit more like dealing with known knowns rather than like dealing with unknown unknowns.The first step towards quantifying amounts of variation for planned operations is to assess amounts of variation for existing operations. How many operations have estimates of amounts of variation in their databases? How often are people able to partition amounts of variation into amounts due to sampling error, amounts due to sample preparation, amounts due to assaying, and the amount of real variation in the stream of material?CITATION:Robinson, G K, 2012. Making sure that the amount of grade variation is a known known, in Proceedings Project Evaluation 2012 , pp 159-162 (The Australasian Institute of Mining and Metallurgy: Melbourne).

May 24, 2012

By G Ferguson a, P Carrasco, P P. A Dowd

International codes of practice offer broad definitions with respect to the classification of resources in terms of risk. Specific guidelines and protocols, to analyse sample data, carry out geostatistical appraisals, develop geological models and finally estimate and classify resources, are not addressed. Neither are detailed requirements for engineering mineable reserves from estimated resources. In addition, international codes of practice fail to distinguish between types of deposit, other than in broad terms, as for example, The AusIMM JORC Code (JORC, 1999) which makes reference to diamond and coal deposits. The objective of this paper is therefore to set in motion the process of specifying detailed protocols, acceptable to the international community, for the assessment, reduction and management of risk associated with the development and extraction of mineral deposits. Ordinarily, the main risks and issues encountered during the process of estimating resources and subsequent conversion to reserves, encompass:failure to understand relevant geological controls of mineralisation; validation of grade interpolation; optimism in geotechnical appraisals of dilution and stability and the consequent selection of inappropriate mining methods; metallurgical modelling of minerals and contaminants reporting to concentrates; appraising the hydraulics of heap leaching and the numerous factors that can affect recovery; difficulty of managing metal price cycles and changes in regulations within the constraints of long-term mining plans; and development of better evaluation techniques for mining ventures. Uncertainty is inherent in estimation and engineering work, and its identification, reduction and management should be a fundamental goal of all involved in the mining industry (Figure 1). Variability may be reduced by:following internationally accepted practices for the collection, manipulation and analysis of geoscientific data; and verifying that the procedures actually performed meet the associated standards. Increasing amounts of data will also reduce uncertainty, but only if the procedures used to collect and appraise such data follow the relevant procedures. It is thus the aim of a series of papers in preparation, Beniscelli et al (in prep), to put forward detailed guidelines, for:project sponsors û to provide a global view of the work and documentation needed to support requests for funding various phases of project development and budget approvals; geologists û to indicate a checklist of the requirements and standards for the exploration and estimation of resources; and engineers and economic analysists û the protocols for characterising, modelling, engineering and evaluating the extraction of reserves. It is therefore hoped to encourage the development of consistent standards for declaring reserves within the mining industry. Data from projects and operations will be utilised to illustrate the benefits of adopting a rigorous approach to estimating resources and engineering reserves, Beniscelli et al (in prep).

Jan 1, 2000

How the Australasian and Canadian Codes (VALMIN and CIMVal) approach mineral property valuation is described. Brief comment is also made on the International Valuation Standards CommitteeÆs interest in a global valuation standard for Mineral (Extractive) Industries and the South African SAMREC initiatives to adopt a VALMIN-like Code. The conventional tripartite classification of valuation approaches into those that are Market-based, Income-based and Cost-based is outlined. It is best practice to use as many of these approaches as possible (and as many methods as reasonable in the particular circumstances), given the quantity and quality of the data available on the Mineral Asset (which depends upon the state of development of the mineral property). The use of specific methods must satisfy the basic considerations of logic and reasonableness and the purpose of the valuation. The competence, judgement and repute of the valuer are critical factors, since all valuations are time and circumstance specific. What constitutes æMarket ValueÆ in the different jurisdictions is discussed and definitions are given. Challenges facing the globalisation of a VALMIN-type Code for the international Minerals Industry are the influence of real estate valuers and the US jurisdictional idiosyncrasies. This is mainly due to a fixation on real property rights with a preference for using real estate-like comparative sales techniques (Market Approach) to the exclusion of Income-based approaches; a regulatory reluctance in the US to accept that Resources have considerable value; and the International Accounting Standards BoardÆs preference for Historical, rather than Current Value, accounting.

Jan 1, 2002

By Lynch K. S, Street R. P

Hamersley Iron's pellet plant at Dampier involves ore drying, dry grind- ing in ball mills, disc balling and, indurating by use of the straight grate system. After five years of operation, the plant's output has been increased from the design capacity level of 2 M.T.P.Y. to 2.5 M.T.P.Y. Steps taken in equipment modifica- tion, improvements in process control, and changes in maintenance procedures are described.

Jan 1, 1973