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Depending upon the probability one assigns to project go-ahead, up to $10 billion (1978 figures) could be required for resource based projects in Australia in the next decade. In the past major resource projects were readily financeable against sales contracts. In the future the complexities imposed by such matters as political risk, inflation, currency movements and environmental and other socio- economic considerations on project development costs and returns may require a different approach. This paper addresses itself to the ramifications of providing development finance for resource based projects in the future - and in particular examines such factors as project completion guarantees, sales contracts, protection against exchange rate fluctuations, interest rate structures and debt/equity ratios as each relates to the provision of finance. TABLE OF CONTENTS SECTION 1 : Introduction SECTION 2 Factors Affecting Project Financing in the Next Decade SECTION 3 Some Aspects of Financing New Projects in Australia in the 1980's Conclusion

Jan 1, 1979

A company tax rate based on profitability return, or as more commonly expressed, a resource rent taxation scheme has been intro- duced at various stages in the past by both Australian state and commonwealth governments. At present a number of overseas countries are applying this form of legislation to the taxing of sections of their mining industries. Within this study, ways in which this type of tax has been used are examined. The form in which the tax can be applied varies. 1. It can be selectively or universally applied. 2. The base on which economic return is calculated can be selected in a number of ways. 3. It can start operating only when high profit levels exist, or alternatively be the basis of a total taxation scheme. The implication for the Australian mining industry of the introduction of different types of resource rent taxation schemes is assessed within the context of previously enacted systems.

Jan 1, 1978

There exist many formulae for designing coal pillars. However, when applied to a given set of mining parameters, they lead to different pillar sizes and factors of safety. From the subsidence point of view, the pillars designed as protection pillars not only have to be stable, but also have to limit subsidence over them to a level acceptable to the structure being protected. The subsidence over a pillar of given width to height ratio depends upon the mining depth. A pillar may be stable, but the subsidence over it may be quite large and unacceptable for the structure. In many cases even though pillars may yield, they support the undermined strata and reduce surface subsidence. In addition, the yielding pillars eliminate peaks and troughs in the surface subsidence profile and reduce ground strains. In a given situation, whether a pillar yields or not depends primarily upon its width in relation to mining depth.

Jan 1, 1992

By Paine GG

In coal mining each of the unit operations are interrelated with each preceding operation having an effect on subsequent operations. This presents difficulties for determining when the lowest overall costs for a particular mining system are achieved. Drilling and blasting is the first mining operation for production and is known to have an effect on the subsequent loading, hauling and crushing operations. Computer blasting models developed over the past 15 years can be used to describe the drilling and blasting operation. This paper describes the ICI Blasting Model "SABREX" in detail. Methods of using the model are discussed. This involves field measurements of geological structure, shallow refraction seismic surveys, laboratory measurements of rock properties and high speed photography of blasts. The predictions are compared with actual blast results for fragmentation sizing and muckpile profiles. Outputs from the model are described and these can be used for input to models of subsequent operations.

Jan 1, 1987

By C E. Loayza, R M. Pinto, J G. G=mez

The Yanacocha District is located 20 km north of the city of Cajamarca, in the Northern Andean Orogenic belt of northern Peru.Gold production may have occurred as early as Incan times (Paverd, 2000), but modern exploration that began in the 1960s targeted only copper and silver. Newmont Mining Corporation, BRGM and Compa±fa de Minas Buenaventura began exploring for gold in 1983, with Newmont as operator.Initial drilling took place in 1985. By 1992 a reserve of 1.28 million ounces was reported (Teal et al, 2002).Production began at the Carachugo deposit in 1993.Current reserves are 31.7 million ounces at $US 325 per ounce at a grade of 1.03 ppm (Newmont Annual Report, 2003).The operating company, Mineral Yanacocha SRL (Newmont 51 per cent, Buenaventura 44 per cent and International Finance Corporation five per cent) produced 2.85 million ounces in 2003, making Yanacocha one of the largest gold mining operations in the world. The district is made up of a series of epithermal, high sulfidation style gold deposits and one gold-rich gravel deposit (La Quinua), aligned in a NE trend.La Quinua is not discussed in detail in this paper. The bedrock deposits are hosted in a Miocene volcanic package, the Yanacocha Volcanic Complex that also trends NE.Re gional NW striking Andean faults intersect the NE striking Trans-Andean Chicama-Yanacocha structural corridor (Turner, 1997), localising the district mineralisation. These two structural orientations dominate the district, controlling breccia and intrusion locations, and gold mineralisation. Discontinuous EW oriented fracture zones are interpreted as extensional and locally are important in controlling gold mineralisation.

Jan 1, 2004

By Wright R, Stock E. C

The Windarra nickel deposits known to date comprise two sulphide orebodies located at Mount Windarra and South Windarra. These orebodies, which are 15 km apart, lie within an ultramafic complex at or near its footwall contact with a banded iron formation. The Windarra deposits are 270 km north-northeast of Kalgoorlie in West- ern Australia which was the centre of a major nickel exploration programme fol- lowing the discovery of nickel deposits at Kambalda in 1966. Surface indications of the Mount Windarra orebody were discovered in 1969 by Mr. Ken Shirley while prospect- ing the Laverton area for Poseidon Ltd. (then NL). The mineralisation was loc- ated by systematic prospecting for goss- anous material associated with aero-mag- netic anomalies and ultramafic rocks. The South Windarra deposit was dis- covered in 1971 by the Union-Hanna- Homestake Joint Venture, by exploring along the strike extension of the mount Windarra ultramafic-banded iron format- ion contact. A detailed ground magnet 1. Acting Operations Superintendent, Windarra Nickel Project, Windarra, W.A. 2. Senior Geologist, Windarra Nickel Project, Windarra, W.A. 3. Mine Geologist, Windarra Nickel Project, Windarra, W.A.

Jan 1, 1973

By R G. Barker

The NZ Minerals Industry Association has continued to advance the interests of the minerals sector through leading the establishment of a Minerals Industry Advisory Committee, and the preparation of a technology strategy with funding assistance from the Foundation for Research, Science and Technology. The current moves mirror those of more than 30 years ago when a government initiative led to a resurgence of exploration through amending the mining legislation, redirecting Government research priorities and tax changes. The economic and political and commercial environment in 2001 is very different from that of the 1960s and success of these new initiatives depends on the continuing support and involvement of all sectors of the minerals industry, and building an improved relationship with the Government and the public.

Jan 1, 2001

The mineralogy of ten trihydrate bauxites and their leached residues from bomb digestion tests at 140, 180 and 2400C was investigated and the resultsòcorrelated with analytical data. It is shown that increased recovery of alumina at high temperatures is due to. the dehydroxylation of goethiteòrather than the presence of alumina monohydrates. The effects of aluminous goethite -on the interpretation of "available alumina". results-and normative analysis are discussed and it is concluded that,'cautionòmust be exercised in interpreting the results of bomb digestion tests in terms of alumina hvdrates.

Jan 1, 1973

By M Cooper

Since its enactment in 1991, the Resource Management Act (RMA) has generated both praise and criticism. The major criticism is in relation to the costs the Act poses to industry and the time it takes to work through the process. In response to such criticisms the Minister for the Environment has initiated a review of the implementation of the RMA. The Minister's proposals for reform have not yet been released and the discussion that follows is based upon the report by the Minister's Review Group which was released in September.

Jan 1, 1998

By X Li, H Alehossein

The oscillating disc cutter (ODC) is an innovative technology for the continuous excavation of hard rock. This paper will discuss:the reasons for its development;its method of operation;current experimental results and mathematical modelling undertaken at the CMTE; andapplications in the mining and rock excavation industry.

Jan 1, 1999

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

Vaal Reefs Mine annually produces some 75 tonnes of gold. Stoping operations, using a scattered mining method, are conducted on several reef horizons within Witwatersrand Supergroup metasediments of the Klerksdorp Goldfield. Current grades average 7.19 g/t Au over a 133cm stoping width. The reef horizons, of which the Vaal Reef is the most important, consists of 2.9Ga palaeoplacer deposits at the base of low angle unconformities. Typically, a reef comprises a mature quartz and chert conglomerate with a siliceous matrix and intergranular pyrite and carbon. Geologists are primarily responsible for underground mapping and supervising of drilling programs. To a lesser extent they are involved with sampling, grade control, ore reserve estimation, mine planning and rock mechanics. Due to a general decline in grades of gold mines, an escalation of production costs, and with the current weak gold price, it has become essential to improve production efficiencies. Consequently the role of the mine geologist has moved away from that of simply keeping the mining people "on reef'. Greater emphasis is being placed on refining geological models to assist in selective mining of the reef and investigations of secondary reef horizons are encouraged. Exploration within fault losses and re-evaluation of pillars is important, and geologists are becoming more involved with sampling and grade control exercises.

Jan 1, 1990

HISTORY Up until the late 1880's the mining industry acquired a considerable proportion of its capital needs from domestic sources. Exchanges were established wherever major new fields were opened and Ballarat, Bendigo, Charters Towers, Coolgardie, Kalgoorlie and Silverton all boasted active trading in mining shares. For much of the first half of this century there was only modest developments in the mining industry and its capital require- ments were correspondingly lower. RECENT EXPERIENCE The new mines of the sixties were, in many cases, characterised by their remote situation and their output of bulk commodities such as iron ore., coal and bauxite. Infra- structure costs were particularly high and the level of capital expenditure was of previously unheard of proportions.

Jan 1, 1975

By Fitzpatrick JM

The feed preparation section of the Whyalla iron ore pellet plant includes a screening and crushing plant followed by dry grinding mills. Improvements in the efficiency of the vibrating screen and cone crusher have enabled screening plant throughput to be increased and product size to be decreased. This, in turn, has enabled improvements in the grinding mills' operation.

Jan 1, 1978

The Hishikari gold deposit, discovered by the Metal Mining Agency of Japan, has become a giant class epithermal gold deposit with the highest grade of gold yet recorded in the world through detailed exploration and development by the Sumitomo Metal Mining Co Ltd. The exploration strategy involved a regional approach combining geological and gravity surveys over a 900 km2 area which had historically produced over 120 t of gold. These surveys were carried out to grasp the common geologic features of epithermal gold deposits in the survey area. A genetic model for epithermal gold deposits in the area under regional survey was also considered based on detailed research of the Kushikino epithermal gold deposit which was in operation at that time. This model was applied to the targeted areas, and important relationships between mineralisation, host lithology, intensive propylitic alteration and gravity highs became apparent. The Hishikari block was selected in this way and bonanza gold was discovered during drilling. Since the development of the Hishikari mine, information useful for further exploration for the same type of deposit has been accumulated.

Jan 1, 1995

By Orr C. W

In previous papers (1, 2), the influence on the creep resistance of elements normally found in commercial lead has been recorded. The results in the present paper refer to the influence of calcium, an element which is not found naturally in lead, but which has been used commercially in the form of alloys. It was realised that calcium would act as a deoxidising agent for lead-and in fact it was with this feature in view that both calcium and magnesium were used as additions. Subsequent work (including the results given in the present paper) has tended to diminish the importance which at first seemed to be associated with the presence of oxygen in lead. The structure of the dilute calcium lead alloys has been worked out in detail (S) and the phase diagram shows the existence of limited solid solubility and a compound CaPbs.

Jan 1, 1938

The dissolution of gold in cyanide has been studied, using both chemical and electrochemical techniques. The electro-chemical studies have confirmed that gold may become passive in cyanide solution if its potential becomes more positive than -O· 5 V v. saturated calomel electrode (S.C.E.). The results of the conventional solution rate tests suggest that, although the solution rate is controlled by the rate of diffusion of oxygen at low oxygen and agitation levels, when these are increased the gold may become passive and its solution rate approach a steady value, or even decrease with increasing oxygen level. The passivity of gold has been shown to be of importance in the solution of small spheres of this metal, and in the extraction of gold from a calcined auriferous pyrite concentrate.INTRODUCTIONAlthough it has been appreciated for many years (McLaurin, 1893, 1895) that dissolved oxygen is a necessary adjunct to the solution of gold by the cyanide process, attempts to quantitatively assess its effect have led to conflicting results. For example, Barsky, Swainson, and Hedley (1934) reported that an increase in oxygen concentration improved the solution rate, but Beyers (1936) claimed that such an increase would reduce the rate at which the gold dissolved.By using an electrochemical approach Kudryk and Kellogg (1954) showed that the diffusion rate of either the cyanide or the oxygen was a controlling factor, and that, if the mole ratio of cyanide to oxygen concentration was greater than 10, the solution rate was proportional to oxygen concentration.These results, although they represent some of the most careful work available, were in direct contradiction to the findings of Mills (1951), who found that gold may become passive in cyanide solution, with a resultant decrease in solution rate.

Jan 1, 1963

By Jones BH

Discovery of the Vera-Nancy deposit in late-1995 followed 12 years of active exploration in and around the Pajingo Epithermal System, an andesite hosted veinfield covering an area of 150 square kilometres at the northern end of the Devono-Carboniferous Drummond Basin in North Queensland. Early exploration targeted open-pittable resources in the numerous auriferous veins and it was not until 1994 that exploration focus shifted to drilling to depths below about 100 metres from surface, which resulted in the Vera-Nancy discovery. That deeper drilling process is still at a very early stage of coverage of the epithermal system as a whole and substantial potential exists for additional discoveries.Drill-out of Vera-Nancy has to-date established a gold resource in excess of 1.4 million ounces. Mine development is proceeding via a twin decline system with first stoped production scheduled for August 1997.

Jan 1, 1997

By Cripps-Clark CJ

Sulphur partition between metal and slag has been examined on a cast-by-cast basis for BTIP furnaces. Partition values. were calculated from thermodynamic equilibrium data together with oxygen activities computed from the manganese partition. The S-C interaction coefficient, esc , was treated as an adjust- able parameter and the agreement between calculated and measured S partition values optimized. In the case of furnaces operating with low viscosity slags this procedure led to estimates of esc in close agreement with previously measured values. The same analysis applied to daily average data for several Kawasaki Steel furnaces led to the same esti- mates of e c s , indicating a similar approach to equilibrium. Silicon partition between metal and slag has been examined on a time average basis and found to be far removed from thermodynamic equilibrium for most Australian furnaces. A study of Japanese furnaces of comparable size reveals a temperature dependence of Si parti- tion which appears to be close to equilibrium. Australian furnaces approach this behaviour only when operating with low viscosity slags. A preliminary examination of the effects of burdening with TiO 2 on the silicon partition is also reported.

Jan 1, 1980

A drive, 3,500 ft long, was planned to explore mineralization exposed by diamond drilling. A rate of advance of 150 ft per fortnight, approximately double previous Broken Hill rates, was required. Subsequent to the completion of this drive its extension for a further 6,200 ft was planned to provide a main haulage way along which ore could be transported from a newly acquired lease back to the main hoisting shaft, a total distance of 13,500 ft.This paper describes the working conditions, relationships, manning and costs, and gives details of the cycle and equipment used to achieve rates up to 170 ft per fortnight.OBJECTIVEDiamond drilling from the 1,000 ft level at the Delprat Shaft section had indicated that the zone of mineralization, about 150 ft wide, which had been explored on the 1,000 ft level for a length of 2,600 ft, continued downwards with a westerly dip. The drilling results showed that within this wide zone there were arrower lenses of mineralization of possibly payable grade (see composite plan, Fig. 1).Diamond drill holes of 2,000 ft and over, particularly through heavily sheared areas of sericite schist, had been found to be costly, slow, and inadequate in testing the potential and trends of these smaller concentrations of mineralization.It was therefore decided that an exploratory drive should be advanced from the northern limit of the 1,480 ft level into the western mineralization, and that from this drive diamond drill holes should be drilled at dose intervals to outline the ore.The 1,480 ft level was chosen for the following reasons.1. It had the greatest northerly reach of the accessible levels at No. 7 Shaft section below the 1,000 ft horizon and therefore would enable the test to be made most quickly.

Jan 1, 1965