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When Haematite Explorations Pty. Ltd. began prospecting for petroleum in 1960, there was only ill-defined geological evidence on the land bordering Bass Strait to support the belief that petroleum lay trapped in sedimentary formations beneath its shallow waters.A reconnaissance of the area, made in 1961 by the airborne magnetometer method, covered the waters and islands of the Strait and overlapped the Victorian and Tasmanian coasts. The survey indicated the presence of the Bass Basin (which is completely water-covered), assisted in outlining the Otway and Gippsland Basins, and showed that each basin contains sedimentary rocks over 10,000 ft thick. Information on the regional geology and minor volcanic activity was also obtained.Marine seismic surveys carried out from 1962 to 1965 defined these basins more accurately and showed the nature and structure of the thick sedimentary sections.Correlation of the seismic data with onshore wells identified the sediments as Tertiary and Mesozoic. Subdivisions of the former in all basins and the latter in the Otway Basin were made. These Tertiary and Mesozoic rocks are not seriously deformed and they have good prospects of containing petroleum.Possible structural and stratigraphic traps, recognized from the seismic record sections by petroleum geologists, are being tested by offshore drilling which began in 1964.

Jan 1, 1966

By C E. Gawith

The Waihi underground mining operation currently mines epithermal veins ranging from two metres up to ten metres in width using a ‘Modified Avoca’ stoping method. This method consists of longhole bench stope mining at 15m to 18m sublevel spacing. The bulk of production drilling and blasting is top down with the extraction length of a typical stope panel nominally being 18m to 20m along strike. A stope panel is usually taken in two blasting cycles followed by the remote bogging of the stope ore. The panel is backfilled in-cycle using unconsolidated waste rock material which is tipped into the void from the upper level using a Caterpillar R2900 or R1700 sized underground loader. The underground mine first commenced production in 2008 and up until 2016, as was typical of many open stope mining operations at the time, an underground loader was used to place a waste rock bund at the top brow of the open stope. This rock bund was the principal means of protecting people and equipment from this hazard. In 2016 there was a fatality at the mine when a loader that had been tasked with building this rock bund fell into the stope void. Immediately post incident all mining and processing operations were suspended for a week to allow colleagues to grieve, to observe cultural protocols and to begin the investigation into this event. During this period senior operators, supervisory and technical staff developed an innovative system which used steel bollards to protect this open edge. With development over the following months this bollard system has eliminated this hazard from the Waihi underground mine.

Mar 15, 2021

This paper deals chiefly with the preliminary examination, when a decision has to be made as to whether a prospect has a chance of developing into a mine or not. At this stage it is important to have a fairly clear conception of what is expected of the prospect, andjust what type of mine is sought. Much money can be wasted testing a prospect suitable for a prospector or small syndicate, but which never looked like becoming a mine of sufficient size to interest a company. When undertaking an inspection, therefore, it is necessary to have a broad outline, at least, of the policy of the principals for whom the report is intended.At this early stage it is frequently necessary to form an opinion of the prospects of a property on very meagre data. When new to this type of work one's first reaction is often th~t it is impossible to pass an opinion on the data available. It. is absolutely necessary,however, that an opinion of the possibilities and chances of favourable development be given; The report should strive to convey this information, making quite ::lear the risk involved, how complete are the data on which this opinion is based, and the possible magnitude of the prize. A Preliminary report has to state whether a property has sufficient prospects to warrant testing.The following procedure is suggested in order to make best use of the data and minimise hasty conclusions influenced by preconceived ideas-an ever-present danger.Examination.The first stage is the examination. This should aim at collecting all available significant data, but avoid clouding the issue with detail which, at this stage, will not affect the decision. The following points are considered to be the main ones for which to look:-Geological Environment.As good a working knowledge as possible'of the geology of the area should be obtained. Government Geological Survey reports and maps, if available, will be a big help. A detailed knowledge of the regional geology is not necessary a,t this stage, but a broad outline of the geological setting of the prospect under review, and also of any other important mines in the district, is often helpful in the final decision.The Nature of the Ore-Body.Any facts concerning the nature or occurrence of the lode should be noted as, coupled with experience of similar bodies, they affect the ultimate decision.Structural Control.This is probably the most important factor, in the light of present geological knowledge. Its chief importance is due to two facts:-(a) Structure plays one of the prime parts in ore deposition.(b) Geological knowledge, of structure is somewhat in advance of knowledge of other factors influencing ore deposition.

Jan 1, 1950

Permian coal seams from the Tomago Coal Measures in the Northern Coalfield, New South Wales, were analysed petrographically and reflectance measurements made for each. Vitrite contents were moderate to high for most of the coals but for two they were very low.The mineral-matter contents were low to moderate by Australian standards. Different profiles of a particular seam could be correlated by petrographic methods.Standard seam profiles were drawn up and from these an idealized Tomago seam sequence was compiled. All the coals were of high-volatile bituminous rank. Their carbon contents, but not thcir reflectances, varied significantly with the quantity of vitrinite present.

Jan 1, 1968

A mining companyÆs approach to managing the risk of theft of explosives and initiating devices should be underpinned by an organisation-wide policy developed with internal and external consultation. It should be based on the principles of sound proactive risk management, planning, monitoring and remedial action. This paper aims to provide mining (and construction)organisations with the rationale and many of the tools they need to control explosive security risks. As with all legislative compliance, they are best managed by incorporating the statutory and legal requirements into company policies, management systems and plans, operating procedures and culture. This is the approach that has been adopted in this paper. Trends we should expect: more prescriptive legislation and stricter government regulations; enhanced enforcement and more prosecution; more sophisticated detection systems, eg airports; additional compliance costs; additional vigilance on record keeping; improved risk awareness and risk communication; wider use of explosives policies, management systems and plans; and additional security staff with investigative skills.It should be noted that mining companies will be required to play their part in reducing the likelihood of explosives, intended for mining purposes, being wrongfully used to threaten, hold to ransom or to injure individuals or members of the public or to produce property damage. This will be done by putting in place safeguards to reduce the risk of theft of explosives while they are under their control. On that basis, this is a business risk assessment rather than a hazard risk assessment. A conclusion of this paper is that mining companies can and should play their part in reducing the supply of explosive materials that can then be used for illegal activities. In fact, mining companies have always had this duty, but now the stakes are higher û æcomplacency no longerÆ.

Jan 1, 2004

By M Chen, Q D. Gao, Y G. Hu, P Yan, W B. Lu

The safety and stability of construction structures are often affected by blast-induced waves. Investigating the generation mechanism of shear wave (S-wave) during blasting is important, because it has a strong effect in blasting damage. In this paper the generation mechanism and verification of S-wave was studied analytically and numerically. Under the finite velocity of detonation (VOD) of cylindrical charge or the compression wave (P-wave) communicating with the interface of different media during the propagation, the generation mechanism of S-wave was analysed. Propagation of blasting wave in cylindrical charge was simulated with the elastic model, and the generation of S-wave induced by finite VOD was proved. To compare with different numerical methods in simulating the generation of S-wave, the blasting process of instantaneous detonation was simulated by using the elastic model, elastic-plastic model and smoothed particle hydrodynamics and finite element method (SPH-FEM) coupled model. Results demonstrate that the S-wave could not be found in middle section of the charge if the elastic model is employed. But when using elastic-plastic model and SPH-FEM coupled model, the generation of S-wave could be verified. Under the SPH-FEM condition, the amplitude of S-wave is larger and the arrival time difference between P-wave and S-wave is closer to theoretical results.CITATION:Gao, Q D, Lu, W B, Hu, Y G, Chen, M and Yan, P, 2015. Comparison of the generation of shear wave with different simulation approaches, in Proceedings 11th International Symposium on Rock Fragmentation by Blasting, pp 79–88 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Aug 24, 2015

By B Maybee

In underground mine planning, many potentially value-eroding decisions are made due to a lack of time and proper evaluation practices. The information required for mine planning decisions goes beyond external sources of uncertainty that are recognised by typical evaluation techniques used in the mining industry, to include technical factors (eg mine development layout) and the ability of a mineral extraction project to achieve its anticipated production levels. Due to the individual characteristics that define underground mining projects, each will exhibit a different risk profile, and thus advanced optimisation and evaluation techniques are required to capture this information.As underground mine planning tools become more sophisticated, mine planners have the capacity to investigate numerous mine sequencing options to identify the best strategy for a given project, creating higher value for shareholders. This paper describes a risk-based evaluation methodology (RbEM) that accounts for financial and technical risk in the evaluation of underground mining projects. While the use of the RbEM has been described in previous works, no benchmarking of the benefits that can be realised from a change in those decisions that are made early in the process has been undertaken. To show the benefits that can be achieved from using the RbEM, this paper updates a case study to which the RbEM was applied, and takes a retrospective look at whether additional value would have been gained by following the strategic recommendation of the RbEM versus a typical optimisation exercise that aims to maximise the net present value.CITATION:Maybee, B, 2012. Can a risk-based evaluation provide a more valuable mine design?, in Proceedings Project Evaluation 2012 , pp 53-58 (The Australasian Institute of Mining and Metallurgy: Melbourne).

May 24, 2012

By P R. Botha

Mining has played a significant role in human development and without the mining sector, society would not enjoy a large number of the benefits that it does today. However, mining has also carried with it some important lessons, which remain the source of ongoing learning. One of these lessons is the poor closure or abandonment of mines, worldwide. This has in many cases resulted in large tracts of unproductive land, representing a source of environmental pollution and a safety hazard to the community. Frequently associated with this is a legacy of mining communities having fallen into economic and social decline, beyond mine closure.Due to this legacy, governments, society and the mining sector pay far greater attention to mine closure planning today, than was done in the past. Typically closure planning has focused on the engineering aspects of a mine, namely decommissioning of the workings and plant; dismantling of unusable infrastructure; and rehabilitation of disturbed land. These are important aspects of closure but a more holistic, long-term approach is required which encompasses environmental and social aspects and aims to leave a positive legacy behind.In planning for a mine closure scenario with a lasting positive legacy, it is critical that the broader receiving environments (social, economic, physical and biological) within which a mine is located, define and drive the closure plan and the mine planning as a whole. This ensures that the broader environment influences mine closure, as opposed to looking at how a closed mine will impact on the environment. The ultimate aim is to first understand the broader environment and then to fit the closure of a mine into it. The earlier this approach is followed in the life of a mine, the greater the operational time frame available, and hence a better chance is presented for planning and managing a mine towards the desired, tested and agreed post closure scenario. Within this broad context, there is tremendous scope to achieve successful mine closure. However, it is critical to note that mine closure is not the sole responsibility of the mining companies, and neither is it possible for said mining companies to achieve mining closure alone. This concerted effort requires a multi-stakeholder approach in which partnerships are created and risks, responsibilities and opportunities are shared and managed. To achieve sustainable closure, a multi-stakeholder approach based on an initial forward-looking closure vision is required. This approach provides an early basis for consideration of alternative land uses and economic options from which specific actions to achieve the preferred option can be defined. The Anglo American plc Mine Closure Toolbox has been formulated and developed around this concept. The Toolbox aims to expand mine closure planning - from financial provisioning for rehabilitation and physical closure, to planning for sustainability beyond mine closure and leaving behind a positive legacy.This paper focuses on the business case for mine closure planning and provides an overview of the Anglo American plc (AAplc) Mine Closure Toolbox.CITATION:Botha, P R, 2012. The business case for mine closure planning and an overview of Anglo AmericanÆs mine closure toolbox approach, in Proceedings Life-of-Mine 2012 , pp 7-10 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Jul 10, 2012

The Committee for Mineral Reserves International Reporting Standards (CRIRSCO) was formed in 1994 to promote development and adoption of international standards for estimation and reporting of exploration results, mineral resources and mineral reserves. The CRIRSCO standards have been accepted by most mining companies and professional societies worldwide. Market regulators from Australia, South Africa and Canada require that these standards be followed when releasing public information. Among these requirements is the use of specific definitions for what constitutes exploration results, mineral resources and mineral reserves. If such information is publicly disclosed in must be estimated by a Competent or Qualified Person. In the United States of America, public disclosures are regulated by the US Securities and Exchange Commission. The SEC does not recognise the CRIRSCO guidelines, and some of the SEC requirements for public release of information are materially different from those applicable in other countries. The CRIRSCO definitions and the Competent Person requirements are reviewed and compared with those of the SEC. The organisation of the SEC and its rule making process are briefly discussed. Ongoing efforts to bring the US regulatory requirements closer to those applicable in other countries are presented, as well as other activities that CRIRSCO is entertaining with the United Nations, the International Accounting Standard Board and other international organisations to reach the objective of worldwide standardisation of reporting procedures.

Jan 1, 2006

By N Mangadoddy, P Jampana, S Diddi

The study of air-core dynamics in hydrocyclone operation is essential for predicting separation efficiency in mineral processing. Electrical resistance tomography (ERT) allows non-invasive measurements of hydrocyclone internal flow dynamics. Existing regularisation methods such as Gauss-Newton and TV norms rely on optimisation techniques which have very high computational cost for very fine meshes. In contrast, the monotonicity method has much lower computational cost as it does not solve such minimisation problems. In this paper, results from the monotonicity method, Gauss-Newton (GN) (Tikhonov) and Total-Variation (TV) norm-based minimisation methods for estimating the air-core diameter in hydrocyclones are compared. We study these methods on the laboratory hydrocyclone experimental two-phase flow data. The results obtained are validated against High-speed video (HSV) imaging and Computational Fluid Dynamics (CFD) results. The results on different mesh sizes, in particular for very fine meshes with the number of cells ranging from 30 000 to above 100 000 are also investigated. The data used in this study is obtained from ITS Z8000 ERT system. This system does not measure the voltages on the current carrying electrodes. Since these voltage values are required for the monotonicity method, we implement an interpolation method to compute them. The results show that the monotonicity method provides a closer approximation of the interface between air and the water phases.

Aug 24, 2022

The philosophy of computer control of grinding and flotation at ZC/NBHC is presented. The performance and reliability of the in- stalled systems are discussed.

Jan 1, 1978

The brown coal deposits of the Latrobe Valley are ideal for open cut mining and this method has been used since the start of coal winning in 1894. Operations at the main Yall9urn open cut commenced in 1922, but after a few years the main excavators were replaced by German continuous excavators and subsequent developments of Yallourn and the newer Morwell open cut have been based on this type of plant. The reasons for preferring continuous to intermittent excavators in the Latrobe Valley are indicated in this paper.Under the pressure of post-war conditions, and from their long experience and ability, German engineers have recently made substantial improvements in their continuous excavators and these developments have been enhanced by some American innovations. These changes have extended the economic limits of open cut mining and also serve to emphasize the close inter-relation between the nature of coal and overburden deposits, excavator design and methods of operation.As an aid to descriRing recent excavator developments, this interdependence is demonstrated by means of diagrams which show typical methods of operations, together with examples of actual machines using these methods. The types of excavator dealt with are mainly those in use at, or destined for Yallourn or Morwell open cuts, together with additional types used in U.S.A. and Western Europe. For completeness, and also because they will continue in service at Yallourn and Morwell for some years, rail-mounted dredgers have been included in this paper even though in Europe they are now regarded as obsolescent.Explanations are given of how the intrinsic qualities of Latrobe Valley brown coal and overburden have sometimes prevented overseas plants from operating with the full efficiencies and/or in the methods visualized by the manufacturer, and references are made to the modifications and investigations being undertaken to overcome these problems.A compresensive bibliography is given. Dates shown on illustrations are not commissioning dates of the plant concerned, but the year when photographed.

Jan 1, 1960

By Leggate J

In the past many coal mining projects commenced without any consideration being given to eventual site rehabilitation. Now that site rehabilitation is assuming greater importance with changing community expectations, and standards are becoming less negotiable, it cannot be ignored in either the development of mine working plans or economic models. The "unspecified" rehabilitation measures associated with many existing projects will be the subject of debate for some time to come yet. It would be wise to plan for the future. Once an agreeed standard of rehabilitation is accepted, good management involves considering practices which will facilitate eventual rehabilitation at least cost. Without planning for rehabilitation, many mines have adopted practices which are likely to result in very expensive rehabilitation measures and impact significantly on the overall profitability of the ventures. With adequate planning, procedures can be developed which achieve the same short term goals without significantly effecting cash flow but with very significant impacts on the final rehabilitation cost. This paper looks at the disposal of tailings and overburden in the coal mining process. The industry has in the past had an obvious preference for the "perceived" cheaper procedures for waste management such as wet disposal of tailings and high dumping of overburden. There are alternatives. The paper discusses the principles which should be incorporated into tailings and overburden disposal systems and identifies viable alternatives.

Jan 1, 1991

By F Carrick, W A. Ellis, D R. Mulligan, S I. FitzGibbon

"One of the major environmental impacts of mining is the destruction of habitat. The koala (Phascolarctos cinereus) is an iconic Australian marsupial that has been severely affected by land clearing and its decline is continuing. This has placed pressure upon mining companies and government agencies to ensure koalas are managed throughout the life-of-mines - from land clearing through to rehabilitation of post-mining landscapes. This paper reports on the æKoala VentureÆ research partnership between The University of Queensland and Rio Tinto. As part of the Koala Venture program we examined koala use of two types of restored environments: rehabilitated mined land (20 sites) natural regrowth forests (six sites), at Blair Athol Coal Mine in Central Queensland, Australia. Searches for koala scats revealed evidence of koalas in ten per cent of rehabilitated sites (2/20) and 33 per cent of natural regrowth sites (2/6). Two factors were identified as being of greatest importance in facilitating koala recolonisation of restored habitats. Firstly, all recolonised sites were located close to native forest occupied by koalas (mean 135 m ¦ 52). Proximity to source animals is considered crucial to recolonisation of suitably restored habitats. Secondly, three of the four recolonised sites were dominated by koala food trees, most of which were large enough to be utilised by koalas. Availability of suitably abundant food resources is, therefore, also considered crucial. The requirement for these two factors, in combination, is highlighted by the absence of koalas at several sites that contained abundant food trees, but that were distal to areas with source animals, and vice-versa.Our research demonstrates the enormous potential for restoration of wildlife habitat on post-mining lands, even for species with specific requirements such as the koala. Consideration of the ecological requirements of wildlife during rehabilitation planning is critical to enhancing the likelihood of recolonisation.CITATION:FitzGibbon, S I, Ellis, W A, Mulligan, D R and Carrick, F, 2012. Rehabilitating post-mining landscapes for wildlife - A case study from the Koala Venture research program in Central Queensland, in Proceedings Life-of-Mine 2012, pp 319-324 (The Australasian Institute of Mining and Metallurgy: Melbourne)."

Jul 10, 2012

By M Kozikowski

The primary purpose of these investigations is to determine dewatering requirements and likely impacts associated with mining operations. Standard aquifer testing techniques were carried out at multiple locations within the Ord Range near Pardoo, Western Australia. Aquifer properties of an oxidised haematite orebody were calculated from test pumping data conducted in five fully penetrating test bores. Hydraulic properties of the Ridley magnetite orebody were calculated based on short term constant rate pumping tests, and packer tests. Packer tests were conducted in undeveloped and uncased exploration holes and diamond core holes. The new data sheds light on the hydrogeological properties of this previously unexplored region of Western Australia.Aquifer testing procedures for each bore included a preliminary step test followed by a constant rate test. Recovery data were collected in each bore over a period of four to six hours. Prior to testing, background water levels and water samples were collected in a network of monitoring and exploration bores to establish baseline water levels, gradients and water quality. Water quality within the bedrock of the Ord Range varies from 2000 to 5500 mg/L TDS whereas water quality within the alluvial sequence of the De Grey River is highly variable (400 to 2500 mg/L TDS), but is predominantly brackish with some water of potable quality which is used to supply Port Hedland. Test pumping supports the conceptual hydrogeological model that consists of a pod like orebody (aquifer) surrounded by low permeability waste rock (BIF), with very weak hydraulic connection to the adjacent alluvial systems. Calculated hydraulic conductivity from test pumping data across Pardoo ranged from 0.01 to 59 m/d, depending on deposit tested.A groundwater model was used to simulate dewatering required in proposed pits and to estimate the impact of dewatering on the surrounding shallow alluvial aquifers. Test pumping and numerical groundwater flow modelling indicate the proposed below water table pits can be successfully dewatered utilising in pit dewatering production bores. Yields from individual dewatering bores will reduce with time due to the reduction in saturated aquifer thickness.Based on the numerical groundwater modelling and field investigations the likely impacts to the adjacent De Grey River alluvial aquifer system (within the Priority 1 De Grey River Water Reserve) resulting from mining and dewatering activities is considered minimal. Recalibration of the groundwater model will be undertaken once several months of dewatering data are available.The aim of this paper is to present a range of aquifer parameters derived through standard aquifer testing techniques for an area previously unexplored in terms of hydrogeological characteristics. It is the goal of the authors to provide this comparison data set for future work in similar geologic media.

Jan 1, 2009

By B P. Banerjee, S Raval

In the recent past there have been dramatic advancements in the development of remote sensing platforms (satellite, aircraft and unmanned aerial vehicles – UAVs) as well as sensor systems (multispectral, hyperspectral, thermal, light detection and ranging (LiDAR) and radar). However, selection of the appropriate remote sensing technique for a mining application is complex and requires scrutiny on multiple scales including spatial, temporal and imaging capabilities. This presentation highlights various conventional and emerging remote sensing approaches over a mine’s life.CITATION:Banerjee, B P and Raval, S, 2016. Applications of advanced remote sensing systems during a mine life, in Proceedings Life-of-Mine 2016 Conference , pp 116–120 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Jun 28, 2016

By M Astorga, J Jackson, J Gaunt

The Ban Houayxai mine (BHX) is a relatively low-grade, low-cost, open pit gold-silver deposit in Laos operated by Phu Bia Mining, a subsidiary of PanAust. The ore production rate at BHX is 4.5 Mt/a, with direct tipping to a semi-autogenous grinding/ball mill circuit with a carbon-in-leach process plant. Approximately 100 000 oz of gold is produced per annum.The operation is located in mountainous terrain with minimal run-of-mine stockpiling. This results in limited capacity for blending from stockpile, with the mill instead reliant upon direct feed ex-pit. Since commissioning in 2012, the plant has seen significant variation in milling rates due to variability in the feed properties of the oxide, transition and primary ores. As part of an ongoing continuous improvement program, an integrated approach was initiated, focusing on maintaining and enhancing production in the future as the proportion of harder primary ore increases. This will specifically focus on direct blending from the loading face using the ore properties and blast fragmentation to maintain mill throughput.This approach was based on the concept of physical assets management, commencing with improving information and knowledge of the condition of the orebody through modelling the characteristics, variability and performance of the feed for processes relevant to throughput. These models are used to support both mine and process plant production planning.The key ore feed characteristics and parameters modelled for the life-of-mine are blastability index, powder factor, crushability or impact resistance and grindability. These predictive spatial models were based on the data from diamond drill holes used in resource definition and geotechnical drilling programs by integrating geotechnical, geological, geochemical and metallurgical data.At the early stages of implementation, the models are being utilised for ore blending decisions to provide guidance and support for budgeting, long-term mine planning, blast design for mill feed and providing the mill with an expectation of performance.CITATION:Jackson, J, Gaunt, J and Astorga, M, 2014. Predicting mill ore feed variability using integrated geotechnical/geometallurgical models, in Proceedings Orebody Modelling and Strategic Mine Planning Symposium 2014, pp 165–176 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Nov 24, 2014

The Morning Star diorite dyke has been subjected to two periods of mineralization. The earlier, genetically related to the dyke magma, gave rise to a weak chalcopyrite-pyrrhotite-pentlandite-gold mineralization in a narrow zone, up to 25 cm. wide, which parallelsthe nearby western (hanging) wall of the dyke. Subsequently a set of conjugate shears formed in the dyke as a result of tectonic movements. Gold-quartz veins formed in these shears giving rise to the classical "ladder veins" of the Morning Star mine. On either side of the veins ("floors") the diorite has been bleached for up to 3 ft. This involved introduction of much CO. and some K"O, and S with abstraction of SiO. and FeO, giving rise to carbonates, sericite, zoisite and pyrite. The veins consist of quartz with minor amounts of albite and carbonate, together with pyrite, arsenopyrite, pyrrhotite, chalcopyrite, sphalerite, tetrahedrite, galena, bournonite, boulangerite and gold. Spectrographic analyses of gold show that the suite of trace elements is consistent throughout the mine.INTRODUCTIONThe gold-quartz veins of the Morning Star Gold Mine, at Wood's Point, Victoria, are a classic example of the "ladder vein" type of deposit. The structure of this series of repeating quartz veins or "floors", some barren and some productive, occurring in a set of conjugate shears which transect a "dyke bulge" of diorite (Fig. 1), has been described on numerous occasions as mining has progressed and figures in the textbooks (Whitelaw, 1905; 1916; Junner, 1920; Lindgren, 1933; McKinstry, 1935; 1942; 1949; Kenny, 1949; Hills, 1952; Clappison, 1953) ; but there has been no study of the mineralization apart from that in Junner's (1920) general study of the Walhalla-Wood's Point Goldfield, made at a time when mining had not developed below the 400 ft. level,. and the mine was dormant.

Jan 1, 1958

There are significant Mineral Resource and Reserve reporting challenges facing a mining company operating in the global arena. This paper specifically examines the Mineral Resource and Reserve reporting challenge facing BHP Billiton. The changing regulatory environment creates a significant challenge for global mining companies when reporting Mineral Resources and Reserves. The development and implementation of internal policies and standards for collecting and collating resource and reserve information is required for corporate governance, however the challenge is then to report this information publicly in such a way as to comply with the various codes and requirements in the many jurisdictions in which the company is required to report. The move to an International Code is not only desirable but is an essential requirement in todayÆs global market. The agreement to report using a single code internationally is however only the first step. A truly practical international reporting system must have common definitions and guidelines for interpretation as well as an international approach to the definition of a Competent Person, and even more importantly a common acceptance of that code by the relevant investment regulatory bodies. Without the universal acceptance of the concept of an international reporting code by the major regulatory bodies, implementation of such a code will be limited. With the major global mining companies seeking to raise capital in the USA, the worldÆs largest capital market, the Securities and Exchange Commission (SEC) and its approach to reserve reporting is becoming increasingly important. The development and implementation of an International Code must gain the support and acceptance of the SEC if it is to be successful.

Jan 1, 2002

By J Gould, T Elkington

Mine operation strategies are commonly optimised with a net present value (NPV) maximisation objective. There are well known properties of a typical mining project optimised for NPV, including high production rates and declining cut-off grade schedules. In practice, however, frequently there are operations that diverge from such NPV-maximising properties. Although a range of reasons for this can be at play, one possible explanation is that operators intuitively adjust their strategies to compensate for the flaws inherent to NPV maximisation. In particular, NPV analysis does not reflect the benefits of managerial flexibility inherent in a mining plan. Real options valuation (ROV) is an alternative approach that addresses this issue. We compare the properties of NPV and ROV optimisation solutions generated for the same scenario. Our simple case study demonstrates that the presence of real operating options in the optimisation model not only entails increased project value as expected, but also tends to encourage lower processing capacity (with lower associated capital cost), higher cut-off grades and greater use of stockpiles.CITATION:Elkington, T and Gould, J, 2012. Real option value optimisation, in Proceedings Project Evaluation 2012 , pp 35-40 (The Australasian Institute of Mining and Metallurgy: Melbourne).

May 24, 2012