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By P Guj, J A. Bell

The valuation of early-stage exploration projects requires a valuer to take into account a large number of uncertain value drivers, the interplay among which may be non-linear. This paper examines some of the key value drivers including geology, target metrics, project area and maturity, the market and the psychology behind the decision-making process. The commonly accepted valuation methods and their underlying logic are outlined, including a view on why they evolved, what value drivers they attempt to address and their potential shortcomings. These methods include the multiple of exploration expenditure, geoscience rating, expected values and market based methods. The potential future valuation methods of replacement values and neural networks are also introduced along with how to minimise heuristic bias and error within the market-based approach.CITATION:Bell, J A and Guj, P, 2012. Exploration value drivers and methodologies, in Proceedings Project Evaluation 2012 , pp 17-28 (The Australasian Institute of Mining and Metallurgy: Melbourne).

May 24, 2012

Copper-Cobalt hydrometallurgy has seen a resurgence in recent years with the development of projects in Zambia and the DRC. Many of the flow sheets are unique in their use of hydrometallurgical techniques to improve performance compared to the older types in current use. The emphasis has moved from direct copper electrowinning/stripping, with multiple stages of precipitation for removal of impurities and concentration of cobalt, to innovative use of solvent extraction and ion exchange with higher cobalt recoveries to final product. The poor quality direct electro-won copper has been supplanted with solvent extraction-electrowinning; with consequent production of LME 'A' quality metal. Many of the precipitation steps in cobalt recovery and concentration, have been replaced with solvent extraction; while the remaining precipitation stages have been enhanced with use of oxidants to improve impurity removal. Operating experience from two of these circuits has shown the benefits of the new technologies and the improved overall recovery of both copper and cobalt into higher quality products.

Jan 1, 2008

In this paper, three types of value-adding in the minerals industry are discussed: downstream processing, improving the efficiency of existing processing and increasing the knowledge base and expertise of the staff. It is shown that, while downstream processing seems to offer a good way of improving Australia's trade position, there are a number of impediments to such development, notably, limited access to the appropriate technology and overseas markets. Transport costs can also be a problem. To reverse the situation will require more positive policies by government. In the meantime, something can be done towards adding value by increasing the efficiency of existing processes. Examples are given, showing how it might be possible to make economies in reagent costs in the gold industry, how innovative technology has led to more complete processing of a tailings dump, how research might lead to an increase in the throughput in the production of synthetic rutile and how it is possible to leach selectively from gold/copper ores.

Jan 1, 1995

Mining of the Martha Hill epithermal gold deposit via open pit methods will excavate a pit to 15 m below sea level. Regular geotechnical evaluations of pit slopes have taken place. Details of the various components of these evaluations, including geological structure, material strength, and groundwater, are covered. Pitwall geological structures are represented clearly on pit floor grade control maps with the dominant sets being steeply dipping strike fractures. Cross cutting shears are common. Material strength is reflected by the oxidation status of the hydrothermally altered host rocks, with weaker material occurring in partially oxidised ground. Regional groundwater is generally high, particularly on the north-eastern side of the pit, where it has been little affected by de-watering. Geological structures appear to control the flow of groundwater in the proximity of pitwalls and require draining by the introduction of horizontal drains. An overview of pit slope design is given. Slopes are designed for overall slope stability, allowing for the occurrence of minor interbench failures.

Jan 1, 1991

By B C. McLellan

The decline of ore grades on land, increasing demand and high prices for various minerals have led to an increased interest in mining the deep ocean sea floor. The potential deep ocean reserves are vast and in some circumstances the grades are high enough to consider mining. However, the consequences of such mining are as yet uncertain. This paper will present the results of a comparative assessment of life cycle impacts of deep ocean minerals. Two alternative extraction technologies from different deep ocean resource types were examined and key commodities are considered. Initial results indicate that the energy requirements will be higher than the average land-based resources, but may fall within the range of the deepest terrestrial mines.CITATION:McLellan, B C, 2015. Comparative life cycle impacts of deep ocean minerals and land-based counterparts, in Proceedings Third International Future Mining Conference, pp 253–260 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Nov 4, 2015

By G S. Beros

In 2019 the Chinese Ministry of Ecology and Environment issued guidelines promoting the implementation of ultra-low emissions in the iron and steelmaking industry. These guidelines aim to drive improvements in air quality through the reduction of particulate matter (PM), sulfur dioxide (SO2) and nitrogen oxide (NOx). Secondly, it also represents an initial means to commence decarbonisation of the industry. The ultra-low emissions guidelines propose that well over 80 per cent of China’s production capacity will achieve these targets by 2025. In response, many sintering operations have implemented numerous improvements to the process that result in significant efficiency gains. Of note is the adoption of deep bed sintering where, with some modifications to equipment, the sintering bed depth is increased resulting in sizable reductions of SO2 and NOx emissions. This paper will also provide an overview of the requirements to introduce deep-bed sintering into an operation and highlight test work completed which quantifies the resultant reduction in emissions.

Nov 8, 2021

When studying minerals degrees at university, all the emphasis is towards sending the graduates into the bush to work at a remote mine; however, that is not the only option available to new graduates. There are positions in equipment supply companies, commercial laboratories, research organisations, engineering companies and contractors of many types. The aim of this paper is to show metallurgy graduates that there are non-mine site based career options available to them that offer outstanding career development. This is illustrated by outlining the research being undertaken by Magotteaux Australia and by telling the story of a graduate metallurgist working in MagotteauxÆs small research group. Magotteaux is an international supplier of grinding media and wear resistant components for the mining industry. The Australian research group is focused on determining the effects that the choice of grinding media has on subsequent processing, for example flotation and leaching, by using newly developed tools and techniques.

Jan 1, 2006

Visual computing opens the design process to a wider audience and allows rapid communication of mine plans to all stakeholders. The integration of software and hardware technologies that take advantage of a graphical environment will continue to improve both long-term and short-term mine design (Figure 1). A good design must be adaptive to respond to decision changes as the mine develops and more information becomes available. The constraints on mine design predicate careful analysis in order to operate the mine as efficiently and safely as possible.Continuous improvement in mining is assured by developing innovative technologies that target mine survey, drill and blast, modelling, short-term design and pit and stope optimisers. The design life of a mine has to be sufficiently long to ensure the mine is commercially successful, justifying the high start-up capital costs. Being able to execute a plan so that it honours the design realises the rewards of computerised mine planning and the long-term investment in data acquisition.

Sep 26, 2011

By D François-Bongarçon

The theory of sampling (TOS), and therefore representative sampling, is based on three fundamental principles: sample correctness, which handles the search for non-bias; segregation, the effects of which must be eliminated or minimised; and variance control to help achieve the desired reproducibility. After briefly reviewing these very few, albeit essential first principles of Gy’s TOS, the state-of-the-art in TOS is examined through the prism of these principles and the prospects for the future are explored, with suggestions for further research where relevant. Regarding segregation, which is currently the focus of much research, new orientations are proposed. For correctness, which takes on a major importance when it comes to sampling devices, some new, important principles that have been put forth by recent research, are described in details.CITATION:François-Bongarçon, D, 2014. State of affairs and current research trends in theory of sampling fundamentals, including segregation and correctness, in Proceedings Sampling 2014 , pp 11–16 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Jul 29, 2014

By C P. C David, J P. T Domingo

Addressing nutrient deficiency, among other factors, is vital to the growth and establishment of plants in mine spoils and tailings ponds. Although several organic amendments are available for this purpose, it is important to determine the appropriate ameliorant for the selected plant species. This research examined the effect of different amendments on the growth and ground cover of Centrosema molle, Calopogonium mucunoides and Sorghum spp. in copper/gold tailings. Plant growth and ground cover drastically increased with the application of organic ameliorants, especially manure. Among the three plants, Calopogonium exhibited the best growth and has shown its capability to establish a dense ground cover even in unamended tailings. Results suggest that the plant species and the ameliorants used in this study could be effective in a low-input approach to mine rehabilitation.CITATION:Domingo, J P T and David, C P C, 2014. Legume and grass revegetation of mine tailings, in Proceedings Life-of-Mine 2014 , pp 525–534 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Jul 16, 2014

By H A. Linn, K Winn, C W. Lee

The Q-slope method for rock slope engineering was developed to enable engineering geologists and rock engineers to rapidly assess the stability of excavated rock slopes in the field and make optimal adjustments to slope angles as rock mass conditions become apparent during construction of road cuts or benches. An empirical relationship between Q-slope and long-term stable slope angle is now supported through over 500 cases studies from Asia, Australia, the Americas and Europe. This paper presents about the stability analysis by first-ever applying Q-slope method on abandoned quarry wall in Singapore. The 30 m high rock slope which is composed of monzogranite rock was severely damaged by blasting operation. As the rock slope is intended for public view the objective was to retain the natural outlook and without any artificial support application thus manual scaling was carried out to clear the loosed rock blocks. In the end stable slope angle of clean rock face is determined once again by Q-slope method.

Nov 29, 2022

Few, if any, reliable thermodynamic data are available for the activity of tin oxide in slags. In this work, the activity of the oxide in silica saturated iron silicate slags has been measured at 1573 K using the equilibrium Sn (alloy) + Y2O2-SnO (slag).Slag and a Ag-Sn alloy were sealed in a zirconium oxide crucible to prevent the escape of volatile tin oxide, and the oxygen pressure at equilibrium measured in situ using the zirconium oxide as a solid electrolyte. Activity of tin was calculated from known data for the Ag-Sn system and activity of tin oxide calculated from free energy data. The results have been extrapolated to predict the industrially important distribution of tin and iron between Fe-Sn alloy and iron silicate based slags.

Jan 1, 1983

By Rowley M, Bradford P

Plutonic Resources Limited (formerly known as Pioneer Mineral Exploration Limited) delineated, developed and operates the Plutonic Gold Mine located 180 kms northeast of Meekatharra, Western Australia. Gold mineralisation was discovered in the Marymia greenstone belt by Great Central Mines NL (GCM) in 1988. There was no previous, recorded gold mining activity in the area. In May 1989, Plutonic Resources Limited (PRL) entered into an agreement to acquire a 51 per cent interest in the three Mining Leases containing the Plutonic deposit from GCM. Subsequently in December 1989, PRL acquired the remaining 49 per cent interest in the Mining Leases. PRL and GCM are also involved in a 51:49 regional joint venture on extensive Exploration Licences in the vicinity of the Mining Leases. Following due diligence validation, reserve delineation and testwork, a feasibility study was undertaken in conjunction with JR Engineering Services, which led to the financing and development of the project for operation in August 1990.

Jan 1, 1991

By D Cumming-Potvin, S W. Jacobsz and E Kearsley, J Wesseloo

This paper describes a physical modelling program that recreated block cave propagation in a geotechnical centrifuge. A brief description of the design of the test along with the sample material and monitoring equipment is given. The samples tested showed caving behaviour and fragmentation distributions that one would expect from caving mines, with one cave deviating due to pre-existing major discontinuities in the sample. A series of fractures formed ahead of and parallel to the cave, implying that an extensional failure mechanism may play a larger role in cave development than previously thought. The results of acoustic emission monitoring of the tests show a seismogenic zone advancing ahead of the cave; however, the quantity and quality of the data is too limited to draw any further conclusions.CITATION:Cumming-Potvin, D, Wesseloo, J, Jacobsz, S W and Kearsley, E, 2016. Results from physical models of block caving, in Proceedings Seventh International Conference and Exhibition on Mass Mining (MassMin 2016), pp 329–340 (The Australasian Institute of Mining and Metallurgy: Melbourne).

May 9, 2016

The company was formed in 1926 to exploit tin bearing veins adjacent to Aberfoyle Creek in north-east Tasmania. In 1928 a 923ft tunnel was driven to explore and develop the mine 150ft below surface. This put the company on a path to become Australia's second largest tin producer by the late 1960's. Recently, Aberfoyle Resources Limited completed a 1.1km tunnel to access the major Hellyer zinc, silver, lead orebody at 300m depth. Production at 1 million tonnes a year is likely, and will make the company a significant world supplier of zinc by the late 1980's. The intervening 20 year history of survival and diversification illustrates principles of mineral exploration which proved valid in the Australian context. The objective of exploration should be to develop mines which can survive rigorous competition and downturns in commodity prices. Such mines will be based on orebodies with many of the following characteristics described by Richards (1986).

Jan 1, 1987

Despite the large areas of sedimentary basins in Western Australia, the coal resources are very meagre., This is a serious problem for the State, which-at present-lacks any other alternate source of fuel-for power production.. Located coal deposits are all poor in quality and mostly brown coals of little importance. The best..coal suitable for extraction is at Collie, where a black=sub- bituminous non-coking coal is mined. Most other coals recorded are low grade or lignite, with high ash'and moisture content and a low calorific value. Coal was first discovered in Western Australia in the bed of the Irwin River, 50-miles south-east of Geraldton, by the Gregory brothers, explorers, in the year 18+6,. but although investigated, it has never been developed. The most noteworthy discovery of coal was in the Collie River, 26 miles east of Bunbury, by Arthur Perrin in 1883. Production commenced in 1898 and ever since, Collie has continued to be the State's sole producing coalfield.

Jan 1, 1964

There are a number a stages in a project at which an audit must, or should, be undertaken. An independent audit may be necessary for the comfort of directors and/or financiers before the major finance is committed, but an internal pre-development audit is the opportunity for the management team to take stock of the project and reaffirm their confidence and commitment. Maxims for project success are given and a check list for pre-development audits is presented. The need of mid-development audits may arise and their brief will depend on the circumstances arising. A game theory approach to decision-making is demonstrated in which the alternative of fast-tracking a development is considered. At the conclusion of the project, before the team is disbanded, a post-development audit should be made. Valuable learning can come from this process which could give important guidelines for future projects and a check list is presented.

Jan 1, 1997

Financial markets are subject to constant change and project finance, as a product within these markets, adapts and will continue to adapt with those changes. A meaningful discussion of these adaptations requires an understanding of differences between non-, limited and full recourse project finance. The reasons sponsors seek and lenders provide project finance are also pertinent in this context. Arranging a project, financing package can be a canplex and time consuming task. An important first step is choosing the right advisor for the assignment and then structuring and tailoring the financing before approaching prospective lenders. The last thirty years has seen changes in the needs of sponsors and the ability of lenders to meet them. These shifts in preference may well be a guide to the future. Several major project financings successfully canpleted in Australia in the last few years and more recent examples are broadly discussed. Project finance will be keenly sought in the future and the form and nature it takes will continue to vary.

Jan 1, 1983

The Fosterville Goldmine in Victoria employs bacterial oxidation (BIOX« Process) to liberate gold from its flotation concentrate. Gold occurrence is primarily as submicron particles in pyrite and arsenopyrite and has been described as being in æsolid solutionÆ and therefore not amenable to direct cyanidation even with fine grinding. Once liberated by the oxidation process, the gold is then available for cyanide leaching. While the oxidation process is very effective, it has been found that a portion of the liberated gold can become suspended in the liquid phase in what appears to be a colloidal state. This liquid becomes a waste stream during washing of the oxidised solids and the suspended gold is therefore lost. This paper discusses investigations into the causes of the loss and also describes the successful use of quebracho tannin in reducing colloidal gold loss. Laboratory and subsequent plant trials, showed a gain of 2.6 per cent in overall gold recovery based on mill feed and waste stream data.

Jan 1, 2009

Modelling of Synergistic Effect of Cyanex 302 and D2EHPA in Zinc Solvent Extraction A comprehensive model is presented to predict the synergistic effect of D2EHPA and Cyanex 302 on co-extraction of zinc and manganese. The experimental results indicated that pH, temperature and the extractants ratio have strong effects on the extraction process. Correlations were proposed to predict the distribution coefficient of zinc and manganese between two phases at different conditions by multiple linear regression. The correlations were simplified by eliminating less important terms by analysis of variance. Optimum conditions (ie pH, temperature, extractants ratio and aqueous to oil phase volumetric ratio) for obtaining maximum separation of zinc from manganese at different zinc concentrations and number of extraction stages were determined. For finding the optimum condition genetic algorithm was used. Comparison the model estimations and the experimental data show that the presented model has good ability to predict the behaviours of zinc extraction system over Cyanex 302 and D2EHPA.

Sep 13, 2010