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By R Smart

This paper examines the longer-term predictive capacity of the GAMSPATH computer program (developed by the Alberta Research Council) for a waste rock (sample MS) obtained from the Kaltim Prima Coal (KPC) mine, Kalimantan that contained significant framboidal pyrite. The model was refined by comparison with the net acid generation (NAG) and column leach tests to provide a basis for calibration of the model for both short term and longer-term reaction trends. The oxidation of pyrite during the kinetic NAG test using H2O2 provides oxygen directly at the mineral surface, generating a measured oxidation rate for pyrite of 1.16 + 10-6 mol m-2 s-1, whereas the oxygen diffusion limited rate in the leach column air equilibrated reaction was of the order 10-8 mol m-2 s-1 as calculated from the GAMSPATH thermodynamic database. Results indicated that the oxygen derived from hydrogen peroxide had to be included as a reactant (eg a reacting mineral) in the simulation to account for the direct availability of oxygen at the sulfide mineral surfaces. Optical investigations identified the proportion, particle size, and surface area, of framboidal and euhedral pyrite in sample MS. The reactive surface areas of the two morphologies were very different (eg ratio: 5:1). To manage these two different pyrite morphologies the GAMSPATH thermodynamic database was updated to include framboidal pyrite, with similar thermodynamic properties and oxidation rate to euhedral pyrite but with a particle size based on the size of the individual internal framboid microcrysts. This modification, with framboidal pyrite reaction based on the size of its microcrysts produced results that correlated well with the kinetic NAG and column leach test results when the measured (kinetic NAG test rate) and calculated (column test rate) pyrite oxidation rates were employed. This provided some confidence that the model could be extrapolated to indicate longer-term geochemical reaction trends.

Jan 1, 2003

The mining of high-grade narrow vein deposits is a predominant field of activity in the precious metal sector. These types of deposits are located throughout the globe and have a significant presence in mining operations. The principle factor that has undermined the profitability and effectiveness of mining such ore zones is the substantial dilution that occurs when blasting with explosives during extraction. In order to minimise ore dilution, the thermal fragmentation mining method enables the operator to extract a narrow mineralised corridor, 30 cm to 1 m wide (according to the true width of the ore vein). By inserting a strong burner powered by diesel fuel and air into a pilot hole previously drilled directly into the vein, a thermal reaction occurs spalling the rock and enlarging the hole to 30 - 100 cm in diameter. This patented method produces highly concentrated ore, resulting in 400 - 500 per cent less dilution when compared to conventional mining methods. The mining method was conceived with the aim of mining ounces, not tonnes. This method of extraction, reduces the environmental impact of mining operations since much smaller quantities of rock are displaced, stockpiled, and treated using chemical agents. The fully mechanised equipment operated by a two-person team, maximises the effectiveness of skilled personnel, increases productivity, and reduces risks of injuries. Important economic benefits are generated for large- and small-scale mining operations alike. For large-scale operations, the mining method increases mining reserves, lowers the cost per ounce, and increases the total profitability of existing mine operations. The method also significantly lowers costs and risks of developing and mining small-scale deposits, requiring less investment capital, shortening the payback period, thus reducing the lending risk.  Combined with a small modular processing unit able to process between 100 - 300 tons per day, the method substantially lowers the financial break-even point for small-scale mining operations in a narrow vein environment. The company has been working with the technology at its Rocmec 1 mining site; results achieved and future developments are discussed.

Jan 1, 2008

By K Williams, T Donohue, W Chen, T Roessler, A Katterfeld

Wet sticky iron ore poses particular difficulties in every aspect of the material handling process. Material hang-ups in bins, pipes and chutes; carry-back and spillage due to insufficient belt cleaning; clogging of screens; malfunctioning of crushers as well as rat holing of gravity reclaimed stockpiles are all predominantly due to the inherent cohesion and adhesion characteristics of the wet, sticky ore (Roberts, 1993). Limited understanding and quantitative measures on the stickiness of such a material significantly lower the mining operation efficiency.This research aims to investigate the cohesion and adhesion characteristics of the wet, sticky ore on physical modelling, experimental techniques and numerical implementation. Initially, the suitable bridging mechanism that contributes to the cohesive and adhesive forces within the iron ore material was identified (Hering, Martin and Stohrer, 1989; Rumpf, 1958). A cohesion/adhesion energy density factor based contact model was then introduced to describe the stickiness of the material. Secondly, an experimental system was proposed to directly test the stickiness of the material. Such a system is able to obtain both the cohesive/adhesive shear force and tensile force of the material at a specific moisture content. Lastly, the implementation of the proposed cohesion/adhesion model into the discrete element modelling (DEM) software was also discussed. A cohesion/adhesion calibration for modelling wet sticky iron ore in DEM was then conducted to ensure the material modelled in the simulation is reflective of the reality.From the study, understanding of the cohesion/adhesion characteristics of the wet iron ore material is significantly enhanced. Experimental and numerical outcomes can be directly applied for better designing or optimising the material handling processes that involve wet sticky iron ore. Consequently, the mining operating costs can be greatly reduced.CITATION:Chen, W, Donohue, T, Williams, K, Katterfeld, A and Roessler, T, 2015. Modelling cohesion and adhesion of wet, sticky iron ores in discrete element modelling for material handling processes, in Proceedings Iron Ore 2015, pp 387–392 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Jul 13, 2015

By R Rimmelin, C Vergara

Heap leach pads are composed of mined ore, usually crushed, disposed on liners to be processed with leach solutions, and the tail of the process is called “spent ore” which are then transported by conveyor belts to be disposed into dumps. It is often to observe stability problems in these dumps, that could affect the equipment working on it and the continuity of the whole mine process. These problems are related to an excess of water content at the spent ore, therefore the operational efforts are focused onto control this geotechnical parameter.This work presents the results of different geotechnical laboratory testing, using samples of spent ore of a mining operation in the north of Chile. In the last 10 years, 3 campaigns have been made to get samples. Valuable information was obtained to identify how specific operational/metallurgical factors could affect the geotechnical behaviour of the spent ore. Special attention is given to the decision to change the metallurgical process adding salt to the heap leach process and its impact to its hydraulic conductivity.Historically, the process has been based on the leaching of oxides and sulphides materials, in separate campaigns, in which it is possible to observe different geotechnical response in the spent ore generated. Recently, it was implemented a new process in which the materials are blended and salt is added, to improve metallurgical performance in terms of recovery. This change generate impacts in the dump, since the geotechnical parameters are affected; decreasing hydraulic conductivity in about one order of magnitude (explained by the salt added).Changes are shown in the geotechnical parameters of the spent ore, considering that the mining source is the same, and how the operational process and dump design are affected.CITATION:Rimmelin, R and Vergara, C, 2018. Geotechnical behaviour of spent ore – impacts of metallurgical factors, in Proceedings Mine Waste and Tailings Stewardship Conference 2018, pp 369–375 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Jul 23, 2018

By J Loeb, R Ramanathan, H Ingham, P Cameron

Most mining operations, including iron ore, maintain a focus on continuous improvement and asset optimisation in their operations. As all the unit operations in the Mine-to-Mill value chain are interdependent, available technologies that address efficiencies across the value chain are once again in the spotlight as companies are driven to improve productivity and maximise mine site profits to increase return on capital invested. Core to continuous improvement is the need to understand the baseline and impact of changes to the process. In this paper, we discuss some of the critical attributes in the Mine-to-Mill process, including their influence on productivity and cost, the need for direct measurement and areas where they should be applied. Many initiatives can be considered to improve Mine-to-Mill processes. Mining operations are planned and executed based on designs and models to achieve the operation's objectives. However, there are many variables in the different parts of the value chain, such as blasting, material handling, crushing and screening. Therefore, measurement of the key attributes establishes the baseline for Mine-to-Mill (or Pit to Plant) performance, which is necessary to understand the impact of any proposed improvements to the process design and execution and monitor the outcomes on an ongoing basis sustain the improvements that have been implemented. This paper focuses on two types of measurement – blast movement and particle size of materials through the Mine-to-Mill process. Several innovative technologies and control loops are readily available to measure these attributes and assist operations to improve productivity and mine site profits. The size of the tangible benefits, which can flow from measuring and optimising fragmentation and blast movement, provide a remarkable return on the investment. Realising these benefits needs a focus outside conventional operation silos as a successful Mine-to-Mill project requires a multidiscipline approach across all the silos in the value chain. Required technologies are available; adding the necessary ingredients of communication and co-operation by all concerned across the silos will ensure the benefits are realised.

Nov 8, 2021

By W Mez

The German mining industry uses different residues for backfilling and stowing. A hydraulic pipe conveying technology for these materials has shown advantages for the transportation into the mine. Pipeline conveying systems are able to bridge long distances, they save room within the underground workings and they save staff and costs. Absolutely necessary for successful use of the hydraulic conveying technology is the knowledge about the unusual non-Newtonian flow properties of solid/liquid mixtures like pastes and slurries. The flow resistance of these materials cannot be described easily by one viscosity. Owing to a yield point and a pseudo-plastic behaviour the viscosity changes with the shear rate and with the streaming velocity inside the pipe. Also these flow behaviours depend very sensitively on the liquid/solid-ratio, often so dramatically that gravimetric or volumetric dosing equipment is not in a position to control the production of backfill pastes. Quality changes of the solid raw materials (particle size distribution, density, mineralogical composition) lead to additional difficulties. The first experiences with hydraulic backfilling plants were troubled by plugged pipes, a bad backfill quality caused by unnecessarily high water content and high costs for chemical binders to solidify the backfill. The installation of viscosity controlled paste production leads to success with the hydraulic backfill technology. A development of the DMT, a bypass pipe-viscometer, has been the key technology. The system is able to analyse on-line, difficult, sticky and abrasive substances and determine their non-Newtonian flow properties. Because the system measures real physical values it is in a position to pre-calculate process relevant parameters like the pressure drop of the backfilling paste in the conveying pipeline. Newer types of the viscometer system also measure the slurry density and calculate its composition. These systems have proven a success controlling backfill paste production plants. They offer a secure prevention of pipeline plugging and a production of high quality backfill pastes with a water content as low as possible.

Jan 1, 1998

By Mez W

the German ruining industry uses different residues for hackfilling and stowing. A hydraulic pipe conveying technology for these materials has shown advantages for the transportation into the mine. Pipeline conveying systems are able to bridge long distances, they save room within the underground workings and they save staff and costs. Absolutely necessary for successful use of the hydraulic conveying technology is the knowledge about the unusual non-Newtonian flow properties of solid/liquid mixtures like pastes and slurries. The flow resistance of these materials cannot be described easily by one viscosity. Owing to a yield point and a pseudo-plastic behaviour the viscosity changes with the shear rate and with the streaming velocity inside the pipe. Also these flow behaviours depend very sensitively on the liquid/solid-ratio, often so dramatically that gravimetric or volumetric dosing equipment is not in a position to control the production of backfill pastes. Quality changes of the solid raw materials (particle size distribution, density, mineralogical composition) lead to additional difficulties. The first experiences with hydraulic backfilling plants were troubled by plugged pipes. a bad backfill quality caused by unnecessarily high water content and high costs for chemical binders to solidify the backfill. The installation of viscosity controlled paste production leads to success with the hydraulic backfill technology. A development of the l)MT, a bypass pipe-viscometer, has been the key technology. The system is able to analyse on-line, difficult, sticky and abrasive substances and determine their non-Newtonian flow properties. Because the system measures real physical values it is in a position to pre-calculate process relevant parameters like the pressure drop of the backfilling paste in the conveying pipeline. Newer types of the viscometer system also measure the slurry density and calculate its composition. These systems have proven a success controlling backfill paste production plants. They offer it secure prevention of pipeline plugging and a production of high quality backfill pastes with a water content as low as possible.

Jan 1, 1998

By L Muñoz, L Steffen, W Vilas Boas, G Gontijo, R Macedo, C Braga, d D Machado, G Stevenson

Mines operating close to communities face growing challenges, especially with their drilling and blasting activities. Proper management of environmental and community impacts is critical to provide sustainability to the mining business in the long-term, by enabling the licensee to operate. This paper will present new technology solutions to minimise the impacts to communities and the environment from blasting operations. A case study of the wireless initiation projects conducted at Kinross Morro do Ouro Mine (located in Paracatu, Minas Gerais – Brazil), will be presented. Focused on overcoming the complex challenges in the mine, Orica and Kinross searched for initiatives to optimise the drilling and blasting operations. The team evaluated the WebGen™ wireless initiation system for controlling environmental impacts as well as operational flexibility and productivity. Since January 2023, three planned wireless blasts to demonstrate the technology and applications were executed. In the tests, the vibration level was able to be maintained lower than the limit of 3.0 mm/s while dust and flyrock impacts were well controlled. The main benefits of using this technology for the Morro do Ouro Mine are: reducing the number of blasts while increasing the blasted mass per month; control of projection of fragments using additional cover; dust control by watering the bench easily; lightning initiation risk reduction due to the absence of wires or tubes on the surface; flexibility in changing the blast day to better control the noise and dust; flexibility in mine planning mining (potential application in the future). The use of the WebGen™ wireless initiation system, enables improved productivity while enhancing safety and reducing impacts to communities. Implementation of this technology has enabled Kinross Morro do Ouro Mine to build trust with its neighbours, maintain the license to operate, and helping to mobilise resources in a sustainable way. This has allowed Kinross to position Morro do Ouro Mine as a world reference operation, especially in relation to innovation, safety, and social responsibility.

Sep 1, 2024

By W Whiten

The determination of mineral composition is necessary in the mineral sands industry. Tiwest has developed a procedure for safe and convenient determination of the mineral composition using a magnetic separation followed by chemical analysis using X-ray fluorescence spectroscopy. This then requires the conversion of the elemental assays to mineral compositions. A project at the Julius Kruttschnitt Mineral Research Centre has developed a convenient analysis method for this conversion. This analysis is based on a reconciliation of the of the assays of the sample with the standard mineral assays by making minimal adjustments based on the assay accuracies to both sets of assays. As well as providing the mineral composition it to be tested for other applications and variations of the procedure to be evaluated. Given a range of samples, testing for the accuracy of the assays of the standard minerals, has been demonstrated.

Jan 1, 2001

By Orid A

A fast, non-contact technique for measuring sizes of rock fragments on a conveyor belt is presented. An image processing technique called active stereopsis is used which makes use of a light stripe projected on to the surface of the fragments on the conveyor belt. A CCD TV camera is used to capture the shape of the distorted light stripe. the video image of this shape is then processed by a computer program so that the 3D profile of the surface can be obtained by triangulation. The sizes of the rock fragments are then calculated from this profile. The speed of the technique is improved by calibrating the light stripe system before measurement begins so that the profile of the fragment surface can then be measured using simple geometry. The technique is fast and highly parallel so that it is able to operate in real time.

Jan 1, 1990

By Nag D. K

The Dolphin Scheelite orebody is located near the old mining town of Grassy on the south-east comer of King Island in Tasmania. Surface open cut mining of the Dolphin deposit was conducted for a number of years, then the proximity of the sea and adverse stipping ratio led to underground mining. As a result of the variable orientation and dimensions of parts of the orebody a number of mining methods were practiced at the Dolphin mine until 1990 when a combination of high processing and surface site costs coupled with low tungsten prices led to the cessation of operations. In this paper the different mining methods practised are examined and critically reviewed. The more successful mining methods were developed with experience and improving equipment technology to the extent that the underground operation produced ore at the lowest unit cost during the final years of operation.

Jan 1, 1995

By Valenta R. K

A technique is presented for the integrated forward modelling of the three-dimensional structure and the geophysical response of multiply deformed terrains. This technique allows information collected by field geologists and geophysicist to be reconciled by the development of a simplified kinematic structural history of the area. The structural modelling simulates the deformation history of the area in terms of a succession of structural events, such as folds, shear zones and intrusions. The interaction of these events with a starting stratigraphy results in the prediction of the geometry of the structures. By specifying geophysical rock properties for the units in the initial stratigraphy predictions are possible for the potential field anomalies for gravity and magnetics. This approach is suited to a range of applications, and its uses in the modelling of regional structures, testing of geophysical data processing, volume balancing, multiply constrained inversion and training are discussed.

Jan 1, 1995

By J D. Tolley

The shift towards clean energy technologies is having a significant impact on the mining industry, with the demand for minerals such as copper, nickel, cobalt, lithium, manganese, and graphite increasing exponentially. To meet the goals of the Paris Agreement, mineral requirements for clean energy technologies would need to quadruple by 2040, and to achieve net-zero globally by 2050, mineral inputs in 2040 would need to be six times more than today. The most significant driver of mineral demand is electric vehicles (EVs) and battery storage, with lithium seeing the fastest growth, and copper demand doubling over the same period due to the expansion of electricity networks globally. The demand for these minerals is expected to rise significantly as investments in clean energy technologies continue to grow in the future. As the world moves towards a decarbonised economy, the minerals industry is under increasing pressure to reduce its environmental and social impacts and meet the increased demand for minerals. Mining companies are facing additional challenges due to the depletion of near-surface mineral deposits globally, with more mines transitioning from open pits to underground. The transition to underground mining requires the right strategy to economically access deeper mineable inventories and to keep up with future clean energy technology demands to achieve net-zero globally by 2050. One key way to achieve this is through decarbonisation using ‘green’ mining technologies such as replacing current primary diesel mining fleets with battery electric vehicles (BEVs). However, these measures through electrification overlook the bigger opportunity to maximise the socio-economic returns from the mine while also reducing the overall carbon footprint. Corporate cut-off grade policy is one of the most significant influencers on the total environmental and social impacts of the mining industry. The purpose of a corporate cut-off grade policy is to implement strategies aligned with achieving all the mining companies’ corporate goals, with decarbonisation targets becoming a primary driver for mining companies. Table 1 shows the evolution of cut-off theory with the increasing number of dimensions and driving inputs per iteration.

Aug 2, 2023

By Lyon R. J P

The quartz-cassiterite-wolfram veins at the Aberfoyle Tin Mine, north-eastern Tasmania, form a sheeted zone about 200 ft. wide and 1,600 ft. long in slightly contact metamorphosed shales, slates and greywackes, and are associated with a cupola of aplitic granite whose top is about 1,050 ft. below the present surface. Economic mineralization persists from the surface down to a vertical depth of 1,050 ft. to 1,100 ft., dying away in the vicinity of the cupola. Down to the 9-level there is a progressive increase in wolfram content of the veins, and a decline in cassiterite content, with increasing depth.The veins are banded or zoned, with a seivedge of muscovite on the wall. Cassiterite, wolfram and sphalerite occur inside the selvedges, projecting into a core of quartz of varying width. Other sulphides form the central part of some narrow veins, or occur as clots in the quartz. The general sequence of deposition of the ore minerals was: (1) cassiterite, wolfram; (2) arsenopyrite, pyrite, molybdenite; (3) pyrrhotite (in part); (4) blende-group minerals-chalcopyrite, sphalerite, stannite, pyrrhotite (in part)-as solid solutions; (5) galena, tetrahedrite, matildite, native bismuth, scheelite; (6) marcasite and secondary pyrite, magnetite and hematite. The sequence of deposition of the gangue minerals was: (1) fluorine-bearing minerals-muscovite topaz, apatite, triplite, fluorite-more or less contemporaneous with the cassiterite and wolfram;' (2) quartz-contemporaneous with the earlier sulphides; (3) carbonates--contemporaneous with the later sulphides. The stages overlapped somewhat.The composition of the sphalerite and heat treatment experiments with the solid solutions indicate that the blende-group sulphides were deposited at about 6000 C., and cooled rapidly, so that unmixing of the solid solutions was arrested. This accords with the likelihood that the country rock temperature was not above 2000 C. Annealing experiments at between 3500 C. and 6000 C. led to further precipitation from solid solution at the lower temperatures, and to significant segregation by solid diffusion within, a week, indicating that both deposition and cooling of the ore were rapid processes-completed in a matter of days. Since the mineralizing solutions must have lost some heat during...

Jan 1, 1957

By R Harding, T Hunt

For the past 120 years, Portland cement manufacture has been undertaken on the shores of the Whangarei Harbour in northern New Zealand. Through a serendipitous conjunction of geo-chemistry, the argillaceous marl found on Limestone Island in the harbour and Tikorangi Hill provides a perfect mix of the various elements required for strong and durable cement. Golden Bay Cement, and its predecessors, have been the guardians and managers of the use of these minerals. As the demands of the concrete industry have increased, so have the needs of the manufacturing process. Careful mapping of the resource at both Portland and Wilsonville Quarries has been undertaken. This has allowed the Company to change the Quarry operation from a purely volume basis to one of selection and blending of constituent minerals. Within the manufacturing process, change has also been introduced. Analytical techniques, using x-ray fluorescence spectrometry, microscopy and the application of modem data collation, has allowed fine tuning of the process. The Company now produces an increasing diverse range of products for both the domestic New Zealand market and exports to various South Pacific countries. This paper discusses the processing of limestone and æcement rockÆ into cement clinker, an intermediate synthetic mineral ground into cement. It examines control and blending regimes, and some methods used in determining process efficiency. An important technique ærediscoveredÆ has been the application of microscopy to clinker.  Examination of the major silicate minerals enables interpretation of the kiln processing and feedback to process operators. It also enables a prediction of indicated performance when ground into cement. Examples this paper give an insight into the use of minerals from Northland in some of the more important construction projects in modem New Zealand.

Jan 1, 1999

This paper describes the characteristics of blasting which set it apart from other methods of breaking rock. The mechanism of rock breakage and the influence of rock proper- ties are then discussed. The strain and fragmentation produced by a cylindrical charge does not change once the charge is longer than 16 blasthole diameters. The influence of bench geometry, charge length and drill diameter are then examined. It is shown that spherical charges have advantages over long slender cylindrical charges. By selection of the appropriate drill diameter, explosive and charge configuration the optimum blasting practice for a given rock to give suitable fragmentation and muckpile profile for sub- sequent handling can be found. The fragmentat- ion depends not only on rock and explosive properties but also on the pattern which dictates how effectively the cracking is utilised. The size distribution of the fragments is given by the Rosin - Rammler equation. Undesirable cracking of the rock in the final wall can be controlled by the careful design of blasts as they approach the final wall. Finally, it is concluded that because of the distance to which blasting can fracture and then displace rock it is suited for the breakage of large volumes of rock.

Jan 1, 1978

FINANCE FOR EXPLORATION Two factors have basic importance in relation to the availability of finance: the apparent success of continuing exploration activity and tax concessions. It is not proposed to discuss the effect of existing tax incentives, as these have already been outlined and are generally accepted as being reasonably attractive; certainly not a deterrent to possible investors. However, it is obvious that the greater the tax incentives, the greater the amount of money that will be attracted, and the wider the number of people who can be brought into the pool. If, as is suggested, the chance of discovery is related to expenditure and effort, then the more money attracted, the better the prospects of significant finds. It is probably correct to assume that the largest expenditure in mining will come from, or be induced by, people expert in the field, people who are fully aware of the risks and benefits and perhaps making conservative decisions because of this awareness. Insofar as the general public is concerned, while in the first burst of enthusiasm it will frequently follow any promoter, in the long run it too will become more sophisticated and will strongly support only those promoters and companies of good repute and proven record.

Jan 1, 1971

By E J. Gardiner, C M. Hogan

Acidic drainage has long been recognised as the largest environmental liability facing the mining industry, and to a lesser extent, the public, through abandoned mines. The Canadian Mine Environment Neutral Drainage (MEND) initiative was the first international multi-stakeholder program to develop scientifically based technologies to reduce the effect of acidic drainage. The original MEND Program extended over a nine-year time frame ending in 1997, with technology transfer activities continuing to the end of year 2000 under the MEND 2000 program. Both programs have contributed enormously to the understanding of acidic drainage and how to prevent it. MEND3, launched in 2001, intends to further this effort with a strong, research-driven program. The successes of the MEND initiative have come through the collaborative efforts of the partners, the sharing of experiences, the thorough evaluation of technologies and their incremental improvements. As a result, the knowledge base on acidic drainage has grown considerably. An international model of alliance between the various worldwide initiative involved in acidic drainage is being formalised at this conference. This global alliance will enhance technology transfer capabilities and will lead to improved environmental performance for the industry. It is through collaboration that we have achieved the most progress in environmental performance, and this formal relationship will further expand these benefits.

Jan 1, 2003

By E Topal

Risk and uncertainty are attached to mining projects, and making decisions, hedging, future investment and evaluation of mining projects depend on forecasting the future price. The future technologic developments in mining will be primarily influenced by the future commodity prices. A few approaches, with different confidences are proposed to predict price movement in the future. This research introduces a new comprehensive version of the mean reverting jump diffusion model for natural-resource commodity prices. The novel model proposes that the historical data of mineral commodities have three terms to demonstrate fluctuation of prices: mean reversion component, diffusion component and jump component. The model calculates each term individually to compute the future prices of mineral commodities. Subsequently, in the second section of the paper, the model is implemented for monthly historical data of gold price from January 1968 to May 2008. This research is investigating the relationship between the historical oil price and inflation with the gold price. This is followed by a future estimation of gold price fluctuations up to 2018. The results from the application of this new method are discussed in the context of how they accurately replicate the historical gold price and how they can predict the future gold price.

Jan 1, 2008

The Australian Mining Industry Council (A.M.I.C.) was established in 1967 as a body to co-ordinate the interests of the mining industry on a nation-wide basis. Its member- ship now embraces the great majority of mining groups in Australia. One of A.M.I.C.'s major continuing functions since its formation has been to work with Governments towards the enactment of more effective and efficient mining legislation. Yet, over the period, the,overall position, if anything has deteriorated. The main reason for this was that because of the rapid succession of what appeared to be quite separate problems during the period there was never sufficient time for Govern- ments to take stock of a situation before it would be changed by a new set of circumstances. By early 1973, the Council was certain that most of the various questions raised were really part of the one overall land use problem and its work in this area thus took a new emphasis from that time. In discussing the Council's involvement with Australian mining legislation over the last six years, the paper helps to clarify the present situation. It then explains a land management system which the Council believes could pro- vide the basis for the type of enlighened

Jan 1, 1974