Search Documents

Prior to the merger of BHP and Billiton, both companies had a keenfocus on improving their performance in health, safety, environment and community (HSEC) matters. This shared intent, albeit executed insomewhat different ways, provided an excellent foundation for the newCompany. During the integration planning phase, a team was formed toconsider the organisational design for consistently achieving world class HSEC performance. The design included the policy platform, resources, structures, standards and procedures to be implemented in the merged entity. A key aspect of the design was the fully integrated HSECManagement Standards. These Standards create the framework for theconsistent application of BHP BillitonÆs HSEC Policy at all of ourmanaged operations across the world. The Standards have their origin in similar frameworks adopted by BHP during the 1990s, as well as thewell-known quality related standards (eg ISO 14001). However, they areunique in that they combine all aspects of HSEC management into asingle integrated set of auditable standards. By combining these areas and integrating our HSEC Management Standards with other aspects of the æBHP Billiton WayÆ, we are establishing a holistic, line management driven improvement approach. Over time, the BHP Billiton Way will embed a systematic improvement philosophy that we expect will become a key source of competitive advantage. The HSEC Management Standards are consistent with ISO 14001,OHSAS 18001, the Australian Minerals Industry Code for EnvironmentalManagement and generally aligned with SA8000. While compliance withthese external standards ensures that a systematic approach andimprovement plans are in place, BHP BillitonÆs HSEC Standards gofurther to include minimum performance requirements that reflect theintent of our HSEC Policy. Therefore, implementation at site levelensures that robust systems are in place to implement our Policy and that accreditation can be achieved to external standards if required.To assess implementation of the HSEC Management Standards anaudit system has been designed which incorporates both self-assessmentand peer review. Each site is required to undertake an annualself-assessment of compliance with the Standards using a commonassessment protocol. Every three years a peer review is conducted at each site to confirm the results of self-assessment and to provide a means of sharing knowledge throughout the Company. The review teams are composed of line managers and HSEC professionals from around theCompany, representatives of our joint venture partners and independentspecialists as required. The Company has committed to public reportingof the audit results through our annual HSEC report and this is reflected in our published targets. From a wider perspective, as we in the resources industry strive tocollectively raise our HSEC performance and reputation, there may be arole for industry based HSEC Management Standards complemented bya level of independent review.

Jan 1, 2002

By G C. Kiel, G J. Nicholson

Corporate governance has never been more topical. A glance at any major newspaper or business publication will reveal a litany of corporate failures based upon the governance of the organisations involved (eg Byrne, 2002; Hayes, 2002; The Economist, 2002). The increased compliance requirements and speculative nature of our industry means that corporate governance systems are, if anything, more important than in the general business community (Arthur, 2001). Rather than focus exclusively on the contribution of governance to corporate failure within the mining industry, however, our objective in this paper is to examine how boards can add value to the corporations that they govern. In order to highlight how a board can add value to a company, we commence by outlining the role of the board in the modern corporation in general and the mining industry in particular. We then introduce the concept of shareholder value and identify the steps on which a board needs to focus to enhance shareholder value through value tracking processes. Our discussion pays particular attention to the importance of organisational culture to the companyÆs activities and utilises three case studies from the mining industry. We conclude with an overview of what mining boards can do to enhance their culture and drive performance changes for the benefit of the companies they govern.

Jan 1, 2002

By M Ridd

The Pasminco Century Mine (PCML) is located 250 kilometres north-north-west of Mt Isa in Queensland. As one of the worldÆs largest zinc mines, PCML comprises mining and milling operations at Lawn Hill, concentrate filtering and shipping facilities at Karumba in the Gulf of Carpentaria, and a 304 km slurry pipeline connecting the two operations.Mineralisation at Century occurs in the upper part of the Lawn Hill formation and is comprised of siltstones, shale and sandstone. Pyrite occurs immediately above the mineralised sequence, and throughout the footwall carbonaceous shale forming the lower proportion of the deposit. Zinc predominantly occurs as sphalerite (ZnS) and lead as galena (PbS). These sulfides are very fine-grained and may oxidise rapidly upon exposure. The pyrite, sphalerite and galena are the main potential sources of acid rock drainage (ARD) or heavy metal leachate at the mine site.To minimise the generation of ARD in the waste rock dumps, they are constructed in a specific manner and waste rock is classified into the following three classes based on competence and acid forming/consuming capabilities:Class 1: Competent rock, non-acid forming or acid-consuming material. Class 2: Non-competent, non-acid forming or acid-consuming material. Class 3: Acid-forming material. The generalised Waste Rock Dump Design for current operations comprises an outer zone of Class 1 material and inner zone with Class 2 and 3 material. Limestone is the Class 1 material used for both its structural support and acid neutralising capacity. Reserves of limestone at the mine site are limited. Net acid generation (NAG) tests confirm that a mix of limestone and shales can be net acid consuming.Field based and laboratory based trials have been established at PCML to quantify blending levels of limestone and shale that will produce leachates both neutral in pH and low in metal/salt concentrations. This paper will discuss the first six months results (of a two-year sampling program) from the trials.

Jan 1, 2004

By N Voller, A Ishmurzin, G Hackl, M Wu, A Kharicha, M Chintinne, C M. G Rodrigues, A Ludwig

Slag fuming (SF) is a critical process for recycling zinc-containing slags, but the corrosive nature of molten slag poses challenges to the reactor durability. The freeze-lining (FL) technique offers a solution by forming a protective layer on the reactor wall. It requires intensive cooling using watercooled jackets, which can stabilise the FL while compromising the energy efficiency of the process. This study presents a computational fluid dynamic (CFD)-based model to optimise the SF process by considering FL formation and its impact on heat transfer and reactor wall temperature. A volumeof- fluid (VOF) model is coupled with a mixture continuum (MC) solidification model to capture the intricate multiphase flow dynamics within the SF furnace. Two FL types are considered: FL solidifying on the reactor wall in the slag bath region; and FL solidifying on the reactor wall in the freeboard region. The FL of the first type forms when the slag temperature drops below liquidus temperature. The FL of the second type only forms when a splash-induced slag droplet collides with the freeboard wall and solidifies. A series of splashing events are necessary to coat the freeboard wall. The simulation was run until a global energy balance was reached. This means that the heat losses from the water-cooled jacket, bottom wall, outlet and fuming balance the heat gains from the hot gas injected through the submerged plasma torches. The increase in FL thickness, due to its low thermal conductivity, reduces the heat losses through the reactor walls. The calculated FL thickness and heat fluxes were in good agreement with industrial data, validating the model’s credibility. The simulation results provided valuable insights into the fuming process, including slag bath temperature evolution, slag splashing dynamics, FL formation patterns, local heat fluxes through the reactor wall and overall energy balance. These findings can inform process optimisation strategies to enhance the energy efficiency and sustainability of SF operations. The authors have built a prior version of the model framework and applied it to simulate FL formation in an electric smelting furnace (ESF). The results from both the ESF and the current SF highlight the applicability of such model framework to a range of industrial processes involving FL formation. This model framework can ultimately contribute to more energy-efficient and sustainable industrial operations.

Aug 21, 2024

By D Laurence, L Ge

This paper demonstrates use of remotely sensed imagery in promoting sustainable mining. Remote sensing technology can be used during all phases of a mining project û from evaluating the resource, to making extraction more cost-effective, through to monitoring, mine closure and remediation. Use of the new generation of satellite platforms with the capability of acquiring satellite data with higher spectral and spatial resolution have the capability to emerge as essential indicator for sustainable development in the minerals industry. A life cycle approach to satellite imagery is discussed. The use of an imagery of the site prior to mining activity establishes the environmental baseline, guides mitigation measures and eventual help in suggesting remediation. Remote imagery provides the cost-effective means of monitoring reclamation, including the growth of planted vegetation, of the mine site and surrounding area. The latest advancements in satellite remote sensing are highlighted to meet the newer challenges of sustainable mining practices. Some of the worldwide successful remote sensing applications for the measurement and evaluation of the sustainable development impact of mining operations are described. Presently available source of imagery and its comparative advantages and disadvantages are provided as a guide. Finally, the limitations of this tool are indicated.

Jan 1, 2009

By A J. Scogings, W J. Shaw

The successful development of industrial minerals projects requires an integrated, holistic understanding of the metallurgical and product performance test work in the context of the geological setting of the deposit and applied to mining, processing and marketing of saleable products. The product specifications provide the essential starting point for geometallurgical studies. A sound understanding of the desired product is needed to design and interpret a program of test work. Examples are provided from recent studies on bentonite and graphite deposits.For bentonite projects, the naïve testing of only the cation exchange capacity (CEC) as a measure of purity can lead to unexpected outcomes when the deposit is mined. The CEC attribute may remain the same, while other important properties such as pH and swelling index change markedly with depth, due to weathering and oxidation, leading to disappointing production outcomes.For graphite projects it is not enough to report only total graphitic carbon content (TGC). Knowledge is required of the in situ flake size and textures in addition to purity and flake size distribution of extracted graphite, which may all vary from one domain to another across the deposit. Such geometallurgical attributes of the ore will impact on the ‘basket price’ used to estimate the value of marketable parcels of expected product.Disclosure of such information must be considered part of fully informing the market. As with all new project developments, consideration of the JORC (2012) and VALMIN (2015) Codes requires disclosure of all material information. This includes the geometallurgical characterisation, ie those aspects of the mineralogy that impact on resource evaluation, ore reserve definition and project valuation.CITATION:Shaw, W J and Scogings, A J, 2017. The importance of geometallurgical test work for industrial minerals projects, in Proceedings Tenth International Mining Geology Conference 2017, pp 83–92 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Sep 20, 2017

By S E. Munro, P D. Munro

The commonly traded base metals concentrates of copper, lead, tin and zinc are sold by miners to custom smelters using contracts whose terms were generally established at the beginning of the 20th century or even earlier. Technical clauses in these concentrates for items such as payable metals and penalty elements do not reflect current realities of extractive metallurgical technologies and hygiene/environmental issues.It is an axiom that the miners and smelters have a symbiotic relationship. While the existing antique and arcane commercial arrangements serve the purpose of transferring money from the buyer to the seller, they are not likely to result in the industry achieving better overall technical and economic outcomes. By examining the cases for copper concentrates and zinc concentrates in particular, it will be shown that the practical application of these antiquated technical clauses does not drive the miners to produce the better quality concentrates that should be desired by the smelters. This is despite development of mineral beneficiation and hydrometallurgical technologies that would allow the miners to make better products.The adage that any extractive metallurgical problem in the smelter is cheaper to solve in the concentrator still generally holds.While nickel concentrates are only touched on lightly in this discussion because sales terms are more opaque than those for the other base metals, it is expected that the same conclusions will apply.CITATION:Munro, P D and Munro, S E, 2015. Base metals concentrate sales contracts – change Pavlov and the dog, in Proceedings MetPlant 2015, pp 46–60 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Sep 7, 2015

The Tasman Orogenic Zone is regarded as a single metallogenic province (the Tasman Province) with four SUb-provinces corresponding with its major tectonic components: the Lachlan, New England, Hodgkinson.and North Queensland orogenic provinces. Within the Tasman Province there are four main ore-rock associations.These are1. manganese and iron with sedimentary and basic volcanic rocks,2. zinc-lead-copper and copper with intermediate-acid volcanic sequences,3. minor chromium, platinum, and osmiridium with ultramafic complexes, and4. tin, wolfram, gold, and copper with syn- and posttectonic granitic intrusions.Whereas the ores of ultramafic and volcanic associations form geographically-restricted metallogenic districts, the ubiquitous granitic ores may be subdivided into twenty-one districts that cover almost the entireOrogenic Zone. The Tasman Province is notably lacking in uranium ores and Mississippi Valley-type deposits.There is a distinct tendency for ores of each association to be progressively younger to the east and north, thus paralleling the progressive growth and stabilization of the Zone. Similar ore-rock associations are present in repeated phases of mineralization from the Cambrian to the Permian-Triassic, reflecting the essential homogeneity of the Tasman Province, and the similarity of the successive tectonic cycles.

Jan 1, 1972

By Hudson S. B

With a particular electrode configuration, and a particular combination of electrode voltage and roll speed, a relatively small increase in electrode voltage, or a relatively small decrease in roll speed, resultsin a marked improvement in the separation of zircon from ilmenite. In general, fine minerals can be separated using a higher roll speed, or a lower electrode voltage, than is required to separate coarse minerals. The ionizing electrode should be reasonably close to the point at which mineral is fed on to the roll, and nearer to the roll than the non-ionizing electrode. The optimum conditions for the separation of zircon from ilmenite may not apply for the separation of other non-conductors from other conductors.INTRODUCTIONAlthough the high tension separators used in the Australian beach sand industry are efficient, this efficiency has been gained very largely by a process of trial and error, and not by a systematic study of the effects of changes in the operating variables. The optimum roll speed for a particular electrode position and electrode voltage, and the optimum electrode voltage for a particular roll speed and electrode position, can both be determined quite readily. It is not so simple to determine the optimum electrode position for a particular electrode voltage and roll speed. The reason for this is that the electrode used in high tension separators consists of two parts-an ionizing and a non-ionizing electrode respectively. The angular and radial positions of these electrodes, relative to the feed roll and to each other, affect the behaviour of conductors and non-conductors to varying degrees.

Jan 1, 1962

By M Dietrich

The paper describes an efficient method for analysing the different attachment kinematics of excavators and other linkages by taking into account digging forces, the workspace and the stability of the machines. The different attachment kinematic systems of hydraulic excavators and a æclassical analysing methodÆ will be presented. The method was integrated as a plug-in for the multibody simulation (MBS) software MSC.ADAMS to create an easy to use solution for design engineers. A comparison of the new MBS-solution with the classical static analysis is a part of this paper and shows the advantages of the new method. This takes into account the manifold and new dynamic analysing opportunities, as well as more detailed models leading to more accurate results.

Sep 26, 2011

By Fawcett M

Pine Creek Goldfields Limited (PCG) is rehabilitating the Enterprise Pit to an aquatic habitat and potential water resource. This paper discusses the development and implementation of that plan. Pine Creek Goldfields Ltd's Enterprise Mine is located approximately 230 km south of Darwin. Open cut mining of the orebody commenced in 1985 and continued for eight years with 14 million m3 of ore and overburden extracted. Geochemical testing of exposed rock types in the pit has demonstrated a propensity to produce acid, and dissolved metals. A plan of management has been developed and implemented to minimise the risk of acid formation and improve the overall water quality in the final void. In developing the plan prime consideration was given to reducing the potential for pit water to impact upon the regional groundwater. An interception system was constructed on Pine Creek to divert approximately 9 km2 of upper catchment into the northern end of the Pit. Construction of the diversion system was completed in December 1993 and a comprehensive surface and groundwater monitoring program initiated. The monitoring program and associated studies are also discussed.

Jan 1, 1994

By D S. Clarke, W M. Prebble

Potential waste rock products from the mining of epithermal deposits in the Hauraki Goldfield are characterised to facilitate their management. Hydrothermally altered andesites and their weathered near surface equivalents have been examined from the Golden Cross, Karangahake and Monawai gold deposits. These materials vary in both their clay content (smectite, illite, kaolinite and chlorite) and the degree of silicification resulting from alteration and weathering. The simulated degradation (slaking tests) of waste materials cannot be explained purely by consideration of clay content, siliciflcation, or the resultant variations in porosity.   Microstructure is considered to be essential in predicting the physical degradation of waste rock. The scanning electron microscope is an effective tool in such an investigation. Increasing alteration results in clay particles becoming more randomly orientated (matrix microstructure); this causes a reduction in the surface area of contacts between components resulting in increased potential for degradation. The extent of skeletal microstructure (commonly characteristic of weathering) is an important control on effective porosity and the long term potential for degradation. Management requirements for these materials include the minimisation of moisture content variations (with the prevention of initial drying being of primary importance) and the containment of sediments produced.

Jan 1, 1991

By A-M Fleury

There has been much progress on the issue of acid drainage over the past 20 years; however, significant challenges remain. The International Network for Acid Prevention (INAP) is attempting to address them by globally coordinating acid drainage information sharing and research. INAP pursues three branches of activities: it links AD research, practice, and people; it organises, sponsors, and participates in regional workshops as a forum for technology transfer; and it instigates and funds key acid drainage research projects. Through these activities INAP is helping the industry deal with what is arguably its most serious legacy issue.

Jan 1, 2003

Currently, mining in Australia underpins the economic vitality of the nation, generating massive revenue from commodity exports and providing substantial infrastructure and employment. In addition, it is predicted that mining related services will in the future develop a global market of their own that could eventually grow to rival, in value, the export trade in mineral commodities. There is however little room for complacency. In the short- to medium-term, escalating, vigorous competition can be expected from many previously underdeveloped countries that are reforming their own mining and mineral export industries. In addition, most mining companies are facing a modem-day renaissance in terms of new expectations, changing social norms, evolving employee relations and statutory obligations. Thus, along with whatever promise the future might hold, the mining industry is currently being subjected to a growing number of largely unprecedented problems and pressures, both economic and social, that are both highly complex and demanding. In particular, it remains a matter of on-going concern that relations between mining companies and their employees still, in spite of recent reforms, continue to constrain productivity, perpetuate inefficiencies, affect quality of work life and retard progress towards mutually beneficial goals and achievements. If mining in Australia is to attain and hold on to a commanding position on the global scene, then further changes will clearly need to be made. Realisation of this appears to be growing, with most mining companies having attempted in recent years to improve workplace culture. Based on a wide ranging study, this paper presents an overview of what has been learned to-date with regard to the `people factor' when it comes to implementing and progressing positive change and reform in mining. From this, a number of practical suggestions, arising from hard won lessons and experiences in the field, are offered. Attention to the nine `key principles' given should help to ensure that many of the common problems encountered to-date with change and reform in the mining industry are in future avoided or at least minimised.

Jan 1, 1997

By Moyle F. J

This paper describes an apparatus which was developed to study solid-vapour equilibria and presents results which were obtained during a study of the FeCI3-AlCI3-CI2 system. Analysis of the results showsthat fractional desublimation might offer a means of achieving a useful separation of the iron and aluminium chlorides produced by the chlorination of bauxite. The results, presented in the form of isothermal vapour pressure curves covering the range of temperature 160-200°C, support the earlier findings of Semenenko et al (Dokl Akad Nauk SSSR, 154: 42-43 (1964)) that the solid phase contains two terminal solid solutions.The equilibrium constant for the formation of the mixed dimer, FeAICI6, was approximately 4. The latent heat of sublimation of aluminium chloride varied from 18 to 26 kcal/mole AI2CI6 for solid compositionsfrom 0.9 to 0·5 mole fraction FeCls3.

Jan 1, 1979

By P Marlow

Raiseboring is an attractive method of constructing shafts, being safe, fast and comparatively cheap. But this means back-reaming through weathered ground. However in the gravels and weathered near-surface rocks typical of the Western Australian goldfields, back reaming large diameter shafts through to the surface is risky and conventional sinking from surface has normally been required.An alternative construction approach has recently been used to stabilise the weak surficial materials and allow raiseboring through to the surface. The method is based on first installing rings of non-contiguous reinforced bored piles around the shaft perimeter, for temporary support, then back reaming shafts at full diameter through to the surface. Immediately after the reaming head is removed, the weak exposed materials are supported using remotely sprayed fibrecrete.The method has been successfully applied to four shafts since July 2007; 3 m and 4 m diameter shafts at Trident Mine, a 3 m diameter shaft at Wattle Dam and a 4.5 m diameter shaft at Athena Mine.Bored pile layout designs have varied from eight to 24 piles, of diameters 120 to 270 mm, in one or two rings. In one case, the top 10 m of the proposed shaft was pregrouted. Subsequent surveys have confirmed that fallout occurred in some shafts, out to the ring of piles, implying that the piles inhibited collapse.The practical implementation of the method was not always easy and many valuable lessons have been learnt. This paper documents key aspects of the method and the critical elements for its application.

Mar 21, 2011

A review of historic mining information and geological literature pertaining to the Alpine Mine, Lyell Goldfield has been completed. As a result of this work the Alpine reef is inferred to be associated with an upright anticline with a sub-horizontal axis. Structural profiles prepared from limited underground data indicate that the reef is subparallel to the eastern limb of the anticline and cuts across the western limb. Reassessment of structural mapping completed by the New Zealand Geological Survey indicates that Greenland Group metasediments within the Lyell Goldfield are folded into a series of opposed assymetic folds with sub-horizontal axes. It is suggested that the anticline which harbours the Alpine Reef is located on the axis of a synclinorium. Along the western limb of the synclinorium the subsidiary folds have steep west dipping limbs and shallow east dipping limbs (western sense of assymmetry) whereas shallow west dips and steep east dips are typical of the eastern limb. The notion of quartz mineralisation occupying the axis of a synclinorium is contrary to the situation in the Reefton Goldfield where quartz mineralisation is affiliated with folds associated with an anticlinorium. Historic mine data reveals that below No.4 Level the quartz-gold mineralisation, in the Alpine Mine, occupied a steeply dipping ore channel. The strike of the channel was to the northwest and within this structure the are shoots plunged to the north at approximately 40¦. Archival mine plans show that two quartz bodies, the North and South Blocks, were present at No. 4 Level. Although the North Block was followed down to No 14 Level (530 m vertically below the surface outcrop) the South Block was only mined as far as No 7 Level. Sampling on No 7 Level together with the results of trial mining suggest that the grade of quartz underfoot in South Block is low. Information from the Mines Statements and mapping undertaken by the Gold Prospecting Scheme reveals that faulting had a profound influence on the intregity and extent of the Alpine Reef. The reef occupies a Inajor shear zone but little is known about it. It is also apparent that below No 7 Level the reef was progressively shattered by faulting and this may be the chief reason for the decrease in grade in the lower levels of the mine. No substantive facts are available about wall rock alteration effects adjacent to the Alpine Reef Still this is not surprising considering that comments on the mineralised pug envelope and breccias adjacent to the mined quartz shoots at the Globe - Progress Prospect were omitted from contemporary publications. In spite of this the existance of sulphide bearing reef casing lithologies cannot be completely dismissed since 9.15 m of 'reef track' has been reported in Reids No 2 Level.

Jan 1, 1996

Trends in Test Filtration to Respond to Decreasing Sample Size There has been a steady decline in the quantity of samples available for testwork when developing new mining processes due to the maturing mining technology and the increasing costs of pilot testing. Larox, a supplier of filtration equipment and its co-operation partner Lappeenranta University of Technology (LUT) have been actively developing new equipment, testing methodologies and tools to plan test campaigns with the objective of being able to determine the optimum filtration technology and the parameters for sizing full scale equipment with a minimum sample size. With smaller sample sizes, the test scale diminishes from pilot scale to bench scale, and the small equipment size has implications for scale-up. Redesigning the equipment to simulate full scale equipment rather than to match filtration theory has led to some interesting developments. Comparisons between bench scale equipment and production units help identify the limitations of bench scale testing. The nature of filtration is such that it is unreliable to estimate filterability theoretically, and different testing methodologies have been investigated to be able to test the feasibility of filtration from samples as small as few grams. While not optimising the filtration technology, these methodologies provide an adequate level of accuracy for scoping studies. Together with improvements in equipment, a software tool has been developed to reduce the number of tests necessary to optimise filtration technology and parameters for sizing.

Sep 13, 2010

Removal of As(III) and As(V) in Aqueous Solution There are toxic arsenical species such as As(III) and As(V), and arsenious species have specially strong toxicity. The strong toxicity causes contamination of groundwater and water pollution for the semiconductor production process. This study is concerned with the removal of As(III) and As(V) with various kinds of Mg/Al layered double hydroxides (LDH) containing CO32-, SO42-, Cl- and NO3- as interlayer anionic species. The anion exchange property is different from the kind of layered double hydroxides and the Mg-Al-NO3-LDH is superior in the anion exchange property of As(III) and As(V) due to the nature of nitrate ion existing in the interlayer. The pH condition suitable for As(V) removal is 7.1 or more. If the initial conditions such as 10mg/dm3 of As(V) concentration, 7.1 of pH, 1 m3 of amount of solution and 99 per cent of removal are fixed, the required amount of Mg-Al-NO3-LDH is 0.27kg for two step-batch operations. The As(III) is suitable to oxidize to As(V) before the removal processing.

Sep 13, 2010

This paper deals with the Australian taxation laws, and in particular the income tax laws, as they apply to mineral exploration and development both in Australia and off-shore. The Australian tax laws are imposed principally at a Commonwealth level. The most important Commonwealth taxes are Income Tax, including Capital Gains Tax, Fringe Benefits Tax, Sales Tax, Customs Duty, Excise Duty and Bank Accounts Debits Tax. The States of Australia impose Stamp Duties and Financial Duties, Payroll Tax and Land Tax. The Australian Income Tax Law including Capital Gains Tax, is the most significant tax in the country. The principal features of the income tax law are as follows: tax is imposed on a taxable income being the assessable income less allowable deductions; a full imputation system of company tax applies; a foreign tax credit system applies to both companies and individuals; capital gains are taxed as income and subject to income tax rates but the gain is inflation adjusted. Australia has negotiated tax treaties with most of its trading partners based on the OECD model; and special tax concessions apply to the mining industry.

Jan 1, 1987