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This paper will present a series of examples drawn for a number of Australian and international mining companies showing their recent attempts at optimisation of capital. The results will be compared, contrasted and discussed in the light of six factors that are considered crucial to any analysis of this subject. The factors are: ò the market availability of capital ò the corporate strategy and performance ò the capital structure appropriate to the corporate positioning within the industry ò the parties to the optimisation equation ò the measurement of success of optimisation The factors above are not mutually exclusive and are generally interdependent so their order above is of little consequence. Other papers presented at this conference will dwell in more depth on all these factors, therefore this paper shall focus only on the key elements of each factor. By way of summary this paper will also address the issue of the longevity of optimisation - is it temporary or long term.

Jan 1, 1991

The project to reopen the Tasmania Mine has centred around efforts to reopen the Hart Shaft to access the high grade reef remaining below the old workings, which extend down to 457 in. Efforts in 1982 and 1987 were frustrated by unstable clay ground around the shaft, which resulted in significant subsidence of the shaft collar and lining. A successful program has since been implemented to solve the problems, stabilize the collar and recover the upper shaft which had collapsed down to 90 m.

Jan 1, 1989

By Segnit R. E

Two suites of dusts (waste-heat boiler and electrostatic precipitator) collected in 1976 and 1980 from the Kalgoorlie nickel smelter were subjected to chemical and XRD analysis and were examined by SEM and optical microscopy. The spherical to sub-spherical particles contained oxide and glassy phases with small amounts of sulfide. XRD showed that the major phase was a mixed Ni-Fe oxide spinel with some hematite. These phases compared well with those predicted by thermodynamics. The particle size distributions showed that in the 1976 and 1980 suites 20 per cent by weight was respectively coarser than 60 and 115/lm (boiler dusts) and 40 and 30/lm (precipitator dusts). Maximum particle sizes estimated from sedimentation chamber theory were found to be in reasonable agreement with the maximum sizes found in the dusts.

Jan 1, 1984

By K Nilsson, G Cheong

Troy Resources NL acquired a 70 per cent interest in the Mina Sertpo gold project in Goißs State, Brazil, in 2001 following a successful bid for the highly competitive international tender of a tenement package put out by Western Mining Corporation (WMC). The Sertpo deposit is located on cleared grazing land 380 km west of Brasilia and is 30 per cent owned by Amazonia Mineracao Ltda, a private Brazilian company. It is a small high grade open-pittable orebody with a measured and indicated resource of 108 000 tonnes at a grade of 49.7 g/t for 172 500 ounces using a 2.0 g/t cut-off. Troy undertook the project management and development of the project while Amazonia managed the exploration activities and provided other services as required. The project development involved drilling metallurgical test holes, scouring the world to locate an available and suitable second-hand plant, and arranging shipping to andreconstruction in Brazil.

Jan 1, 2004

By E Kunz

Decreasing the gas content in the worked seam by degassing before the start of winning has proven its worth in some areas of German hard coal mines. On the one hand, it removes the risk of gas/coal outbursts and on the other hand it reduces the gas inflow into the longwall. The underground experiences of the last 30 years have led to a æhit listÆ of coal seams with respect to their suitability to predegassing. Trials in the DMT laboratory and also results gained in the deposit show that the suitability of a seam for predegassing depends on its rank. In seams with volatile matter of 20 - 30 per cent, high efficiency ratings are achieved as a rule, with lower ratings both in seams with lower and with higher content of volatile matter.If the rock pressure is unusually high, the efficiency rating of the predegassing is lower, even in seams which would normally be suitable for this process. Under unfavourable conditions, for example below or above residual pillars, in-seam boreholes cannot be drilled successfully and the method is not practical. But if the worked seam was already stress relieved, the predegassing has an optimal efficiency. Latest investigations show that the distance between the in-seam boreholes can be extended. But in that case, the time necessary to reach the same reduction of the gas content increases considerably.

Jan 1, 2005

In the context of sustainable development, the Minerals Council of Australia (2010) states that 'investments in minerals projects should be financially profitable, technically appropriate, environmentally sound and socially responsible'. In other words, the business of mining can only be sustained if these criteria are met.   Science and technology plays a major role in all four of these criteria. This paper will present the technology and innovation emerging from the Minerals Down Under National Research Flagship which brings together CSIRO and more than ten of Australia's leading universities to work with industry to drive efficiency, productivity and environmental performance. This work is required if the Australian minerals sector is to thrive and continue to deliver national benefit in the face of increased global competition, declining ore grades, depleting ore deposits, increasingly constrained national resources (land, energy, water and people) and changing societal expectations.   Science and technology to reduce emissions and water use, discover greenfields resources, enable deeper mining operations and transform mineral processing are described. Technology is presented as an enabler of sustainability: a means to this end but not as an end in its own right.

Jun 1, 2010

The widely accepted concept of mineral resources are that they are finite - mining therefore being intrinsically unsustainable. Yet the modern global mining industry continues to grow production at strong rates - how can this be? In reality, mining is a complex industry, starting with exploration, development, operations and then rehabilitation and closure. A recent major study of Australia has shown that for most mineral commodities, exploration continues to find new deposits, or expand resources at existing mines. In parallel, however, there are a number of key 'mega-trends' which are growing in their importance - declining ore grades (or quality), increasing tailings and waste rock volumes, the need for deeper mining, more refractory ore types, increasing energy inputs and higher unit energy costs, increasing pollution issues and, of course, not to forget greenhouse gas emissions issues. This paper will present a detailed case study of the ultimate sustainability of the Australian mining industry - showing long term historical data sets on ore grades, waste volumes and economic resources and placing these trends in light of major twenty-first century issues such as energy supplies (especially Peak Oil), climate change and existing and emerging land use conflicts (eg agriculture versus mining). Australia is a critical case study in the sustainability of mining, as it is a major global exporter of numerous commodities, and this is expected to continue to underpin the ongoing industrialisation of countries such as China and India. The ultimate question begs - can Australia actually meet this fundamental challenge, or will our resources run out, or will we be constrained by environmental issues such as climate change, land use or perhaps water? Rather than a mere optimist's or pessimist's view, this paper will present a range of hard data which underpins the debate about the sustainability of mining this century: ultimately, we cannot assume that the patterns of past mining will continue to work in the future. The sustainability of mining continues to hang in a precarious balance.

Jun 1, 2010

By L Olivier, R J. Lowther, J L. Lett, I Brunton

Hydraulic fracturing to precondition the orebody to enhance rock mass cavability is gaining acceptance in underground cave mining applications. Assisting cavability is becoming important as an increasing number of cave mines are being implemented in hard, deep and competent rock masses where clamping stresses are higher and cave column heights may be in excess of 1000 m. Propagating large caves to surface in such conditions can be challenging as risks such as slowed propagation and air gaps can develop during the process.Underground-based hydraulic fracturing is routinely used at Cadia East as a means of preconditioning the orebody to assist in cave propagation, fragmentation and seismicity reduction. This paper presents a summary of a surface-based hydraulic fracture program that was successfully implemented to assist in the propagation of the Cadia East Panel Cave 1 (CE-PC1) cave to surface through competent overlying rock masses. In this case study, the propagation of the CE-PC1 cave slowed as the cave grew past 750 m in height, initiating a Trigger Action Response Plan regarding the cave propagation rate. Surface-based hydraulic fracturing was subsequently used to stimulate the cave to propagate through the final 450 m to surface. The paper details the equipment, strategy, implementation and risk management involved in the program as well as the key learnings.CITATION:Lowther, R J, Olivier, L, Lett, J L and Brunton, I, 2016. Implementation of a surface-based hydraulic fracturing program to successfully propagate a large cave through hard, competent near-surface rock masses to achieve breakthrough, in Proceedings Seventh International Conference and Exhibition on Mass Mining (MassMin 2016), pp 83–96 (The Australasian Institute of Mining and Metallurgy: Melbourne).

May 9, 2016

By Mauk JL, McOnie A, Simmons SF

Three cross sections, 200 m apart, display the distribution of indicator hydrothermal minerals across the Empire zone of the Golden Cross epithermal Au-Ag deposit, Waihi, New Zealand. These minerals are used to interpret the temperature and composition of hydrothermal fluids. The distribution of interstratified illite-montmorillonite and illite indicate that temperatures ranged from 140 to >220¦C, with temperatures above 220¦C predominating. The mineral assemblage of quartz-adularia-chlorite-illite-calcite-pyrite envelops the Empire vein system and stockwork, and reflects formation from an alkali chloride water, whereas the mineral assemblage of replacement calcite-interstratified illite - montmorillonite- kaolinite forms a carapace and reflects formation from a C02-rich steam-heated water. Alkali chloride waters appear responsible for the epithermal Au-Ag mineralisation.

Jan 1, 1995

Although the flotation cell has been under continuous development over the past 80 years, an understanding of the precise roles of a cell in produc- ing the flotation result had evolved slowly. In fact, detailed studies of cell dynamics began only in the 1940s when flotation practice had almost reached the half-century mark. The earliest generalizations related cell capacity to power intensity (hp/vol- ume) (Rose, 1946), and specific operating features such as aeration and power ' consumption to impeller submergence and operating speed (Read, 1933). In the 1950s hydrodynamic characterization of cells through power coefficients and air flow numbers began (Arbiter and Harris, 1961) and has continued to the present, with increasing industrial use of these concepts (Degner, 1982; Degner and Treweek, 1976). Liquid flow measurements in Wemco cells (Degner, 1982) made liquid flow numbers and turnover frequencies available for more complete under- standing of cell dynamics. The present overview of flotation technology is a critique of cell design. The cell process represents the interactions between cell dynam- ics, cell geometry, and ores, with the latter prepared for that interaction through size reduction and reagent treatment. While previous invest- igations of flotation cells have accepted all cell designs uncrit- ically, the present study considers the physical process components that an effective cell must provide, and then compares a limited number of

Jan 1, 1984

By T Hausler

The pitfalls, pleasures and management issues associated with international and remote projects are diverse.However, no problem is insurmountable and if an engineering team chooses (by luck or good planning) to push through the difficulties, success can mean an extremely satisfying experience for individuals and a significant, positive result for an organisation.International projects are not for the faint hearted or inflexible. Working in foreign lands with people who may or may not speak English and who may not initially respect you can become mentally and physically tiring.Sometimes the challenges are not fully explained to individuals in advance. Individuals then often learn about the challenges ù and discover solutions ù on the job. While this initially puts great pressure on individuals, matters improve eventually, especially when the locals come to understand that you are on site to make a positive difference.This paper will discuss aspects of a recent international project including meeting international clientsÆ expectations, dealing with cultural differences, social reckoning, environmental issues, and personal challenges. Specifically, it will cover aspects of working within a Russian cultural setting and overcoming social barriers.The paper also presents coping strategies for long periods of time spent away from home in remote places with extremes in weather beyond the normal experience of most Australians. For example, dealing with the effects of the spring thaw and coping with temperature ranges of -45 to +45¦C.Lastly, and possibly most importantly, there will be a focus on the role of translators. They have the power to make an engineer everyoneÆs best friend or, on your behalf, to order cold chicken liver and heart salad for lunch. If an engineering team can establish a working relationship with translators, they can become an invaluable asset and both on and off site.CITATION:Hausler, T, 2013. Achieving success in large-scale, remote area metallurgical plant projects, in Proceedings MetPlant 2013 , pp 539-552 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Jul 15, 2013

The transition from low stress to high stress conditions is a challenge eventually faced by most mines in Australia that extend to depths greater than (generally) about 1000 m. In areas with strongly adverse 'stress versus depth' gradients, such as some parts of Western Australia, significant stress-related problems have occurred at depths as shallow as 300 m below surface. The actual depth at which the 'transition' occurs is a function of the local pre-mining stress field, the strengths of the various rock types hosting the deposit and the layout and sequencing adopted in the mine. Stress-related damage can result in increased support costs, and delays associated with rehabilitation and disruption to production. In the worst case, where strong seismicity and associated damage occurs in active mining areas, 'exclusion' zones and 're-entry' protocols may be required. These can severely disrupt production. A key aspect of managing the transition is the recognition of the onset of stress-related ground behaviour. Damage mapping can be used to develop understanding of the relationships between mining activities and the local and regional response to them. Carefully documented case histories provide a basis for calibrating numerical models. This paper discusses some of the typical styles of ground behaviour observed in higher stress conditions in underground mines. A simple damage classification scheme is described to assist in 'damage mapping' of mine tunnels. An example of damage mapping is presented to illustrate an approach commonly used for recording stress-related damage.

Nov 25, 2010

That electricity is an important and valuable agent, the limit of whose capacity for utilisation is as yet unknown, is a truism; although enormous advances have been made, the possible developments are yet greater. Mining, along with other industries, shares already to a large extent in the practical utilisation of this agent. Electrical engineers have been employed for several years past in developing and applying electricity to all classes of machinery, and for every purpose where power is required and in no instance, that the writer is aware of, has its use been curtailed in favour of any other agency now known, while extensions are continually made. The first modern electric motor was shown at the Vienna Exhibition of 1873, and it was used to work a pump through a mile length of cable but it was not before 1878, that an electric motor was put into daily commercial use by Messrs. Chretian and Felix to work a beet sugar hoist. This early plant effected a saving of 40 % as compared with hand work.In 1879, the first Electric Railway was constructed for the Berlin Exhibition, and in the same year, Mr. T. A. Edison was running an experimental line at Menlo Park. The first electric line opened for the public, was constructed by Siemens and Halske, in 1881, at Lichtenfelde, and was 11 miles in length.

By Witkowski A

I have the pleasure to present 6 excellent papers in this section all of major relevance to the mining environment of today where competing social, legal and monetary interests and their often complex interaction require serious consideration. This is particularly true today where huge fluctuations in commodity prices makes mining a perilous undertaking while the world increasingly are becoming aware of the serious threat that mans activities has on his environment. The 6 papers deal with such complex issues as safety in an underground environment; How to protect sensitive wetlands well into the next century; The enormeous waterproblems in China and conflicting dewatering/water supply needs; Disposal of contaminated water in sensitive areas and the dynamic interaction between mining companies and legislation.

Jan 1, 1988

The ""comparable sales"" method of valuation attributes value to an asset by reference to actual sales of comparable assets or to the market capitalisation of companies with comparable assets. This methodology is widely used in real estate valuations. The real estate approach can be used to value mining and exploration properties where there are actual sales of comparable or similar assets in the recent past. The practical limitations of the comparable sales method are well known and self evident: limited number of transactions, limitations on comparability and inadequate data. The real value of the comparable sales method is in its use as a validity check. Estimates of value of mining and exploration assets are so sensitive to so many variables that all valuation methods have limitations. Accordingly there is real value in attempting to establish benchmarks from comparable sales. Apparently sophisticated valuation methods can mislead by creating the impression that valuation is a precise science. The judgement of the valuer is critical and judgements can be wrong. Any available evidence from actual sales that are even remotely comparable can provide useful input to the valuation process.

Jan 1, 1994

By P Shen, K Hattori, H Pan, E Seitmuratova

"An EXTENDED ABSTRACT is available for download. A full-length paper was not prepared for this presentation. Ore-bearing intrusions in the Central Asian Orogenic Belt (CAOB) were examined from nine mines: Boshekul, Nurkazgan, Kounrad, Borly, Aktogai, Koksai, Baogutu, Tuwu and Erdenet. The intrusions are diorite, granodiorite and tonalite with SiO2 contents ranging from 58 to 75 wt per cent, and show mildly fractionated rare earth elements (REE) ([LREE]N/[HREE]N = 2.7–4.7) – light REE and heavy REE – and varying Eu anomalies ([Eu]/[Eu]* = 0.58–1.4). The ratios of Sr/Y vary from 7.9 to 115 and the contents of Y from 4.6 to 23.9 ppm. The parental magmas of the intrusions are intrinsically oxidised. Zircon grains in the ore-bearing rocks from large- and intermediate-sized porphyry Cu deposits show high Ce4+/Ce3+ ratios characterised by 65–422 at Boshekul (>4.1 Mt Cu), 76–480 at Kounrad (>4.8 Mt Cu), 90–280 at Aktogai (>12 Mt Cu), 80–250 at Erdenet (>11 Mt Cu) 74–370 at Nurkazgan (>3.9 Mt Cu), 100–210 at Koksai (>1.6 Mt Cu), and 71–340 at Tuwu (~2.0 Mt Cu). In two small deposits, the ore-bearing rocks display low values of Ce4+/Ce3+; Borly (0.6 Mt Cu) ranging from 28 to 158, and Baogutu (0.6 Mt Cu) from 29 to 113. The Ce4+/Ce3+ ratio of 120 distinguishes large intermediate-size deposits from small-size deposits. This information is potentially useful in exploration for porphyry Cu deposits in the belt.CITATION:Shen, P, Hattori, K, Pan, H, Jackson, S and Seitmuratova, E, 2015. Granitoids associated with porphyry Cu deposits in the Central Asian Orogenic Belt – characteristics and oxygen fugacity, in Proceedings PACRIM 2015 Congress, pp 377–382 (The Australasian Institute of Mining and Metallurgy: Melbourne)."

Mar 18, 2015

By Bastias J

The Ranger uranium mine has operated in the Kakadu region of the Northern Territory since 1979. The mine's water management system was designed to cater for the wet-dry monsoonal climate and to satisfy the recommendations of the Ranger Uranium Environmental Inquiry - Second Report, 1977 (The Fox Report) with respect to environment protection. The Fox Report advised that the aquatic ecosystem of the region must be protected and that the mine should collect all runoff from disturbed areas. Furthermore, the mine was to operate as a no-release system until release standards, based on the experience of several years of operation and on the results obtained from monitoring and scientific investigations, could be established. Monitoring and research data have now been collected for a decade. it is evident that lower-than-expected concentrations of chemical constituents are present in the runoff waters which are retained on site. Standards have been established for the release of these waters to the streams when in flood during the wet season. Mine water quality data and release standards are presented. It can be confidently concluded that controlled release will not cause detriment to the aquatic ecosystems of the Kakadu region. The Ranger operation has demonstrated that environmentally responsible management of mine waters is feasible for future mining ventures in the Kakadu region.

Jan 1, 1988

By Higuchi K

Intorducing the hypothesis that the cause ,òi spontaneous combustion of coal is depending un the accumulation of heat produced by its oxidation, the authors derived the equation expressing the temperature change in a heap i fine coal. To solve the equation, thermal conductivity, specific heat and rate of heat ,eneration of fine coal (-48 mesh) were measured at various temperatures in the range _'0-65¦C. The equation was solved numerically and the volume of fine coal which would ignite spontaneously was estimated as the function of ambient temperature. Using 170 Kg of fine coal, everal experiments for confirmation were conducted. At the ambient temperatures of 60¦C nd 50¦C, coal began to fire spontaneously brut 00 and 110 hours later respectively. Iii addition to this, the measured t,,rp,i,itures in the coal heap agreed with the ,aLulated ones comparatively well, If more volume of fine coal were used, experi;:ontul ;,eneration of spontaneous combustion from ...,n-, , 1-1 I'd Sill al r..

Jan 1, 1981

Mining One (M1) is often challenged with the task of evaluating deposits considering open cut and/or underground (UG) mining methods. In many near surface deposits a combination of both methods results in the optimum economic means of exploitation. As common as it is to have open pit mines eventually develop into underground mines, theory associated with determining the optimum underground/open pit interface location continues to be subject to refinement. With recent developments in underground software packages, the generation of rudimentary underground mining stopes from basic economic inputs is not only fast, it provides a practical underground mining solution. The determination of the open pit/underground interface is not new to Gemcom's Whittle 4X (Whittle). However, its solution has only ever claimed to be indicative, mainly due the rudimentary nature of how Whittle represents any potential underground mining. The efficient generation of the aforementioned underground mining solution has provided mining engineers with a unique opportunity. Underground mining can now be represented within the Whittle environment to allow the open pit/underground mining scenario to be modelled with increased accuracy. Providing Whittle with the ability to now consider mineable underground stopes combined with the consideration of time value of money (discounting), has delivered a solution with higher credibility than ever before.This paper will elaborate on the potential value gains associated with improved accuracies in the modelling of any potential underground mining in the Whittle environment. Furthermore, it will explain the importance of incorporating time value of money in the optimisation process to provide a consistent solution through to pit selection and final analysis.

Dec 6, 2010

Ventilation challenges are often encountered when an underground mine expands to new zones and it often is the case to make a thorough review of the existing system and assess immediate and future airflow needs at the desired quantity and quality. An unexpected mine plan change that calls for increased development and production from new areas can impose a strain on the existing ventilation system. Budgetary constraints can also demand creativity in design on the mine ventilation engineerÆs part. Since the addition of several mining horizons it had become obvious at the Meikle mine that something had to be done to increase airflow quantity and quality in the old main zones because most of the ventilation resources had been channelled for development in the new mining horizons. An airflow assessment of the existing system had to be performed and it was determined that the airflow quantity had to be increased by at least 30 per cent and the quality of the air had to be improved by reducing nuisance and respirable dust and at the same time reducing the airflow temperature before it was used in a few mining zones. At the conclusion of the airflow assessment it was determined that a third centrifugal fan would be installed on a new 3.05 m diameter borehole from surface to underground. By a careful study of temperature conditions over time it was determined that an evaporative cooling spray chamber would be sufficient to cool the airflow down from the high dry bulb temperatures observed down to saturation at the wet bulb temperature. At the same time excessive nuisance dust generated as a result of the airflow travelling a long way in a haulage drift will be knocked down in the spray chamber resulting in cool, clean air in the mining districts. Expansion of the existing surface ammonia refrigeration plant was out of the question for several reasons. The fact that the airflow was hot and dry meant that evaporative cooling spray chambers could achieve lower working temperatures at a very low cost compared to the expansion of the chilled water plant. The expansion of the ventilation system at Meikle mine and the use of evaporative cooling spray chambers were demonstrated to be very successful and the information presented in this paper can be of benefit to other mines experiencing the same ventilation problems as was the case at the Meikle mine.

Jan 1, 2005