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The classic description of Project Finance as "the reliance by lenders on the cashflow of a project, supported by the assets of the project with no recourse to the project sponsor's corporate balance sheet" has, like most other terms in the finance industry, evolved through recent usage. The area now under most scrutiny is the sharing of risks between parties either most able to take them or prepared to accept payment for them. Creativity in, and flexibility of financing structures have enabled project lending to continue under a dramatically different economic outlook. The diminishing competitiveness of the Australian producers in a global market place of uncertain commodity prices has discouraged the advancement of many large scale resource projects. The majority of new project financings has been designed to assist the relatively small company promote and develop its first projects. New trends- are emerging in four areas: sources of capital; borrowing structure; financing instruments (securitisation); and risk underpinning. As project financing becomes more widely used, the range of interested financiers grows. New initiatives contribute to its development and evolution with a view to increase effectiveness to the sponsor of any new venture.

Jan 1, 1987

By Agrawal R. D, Kapoor M. L

Activity of FeO in the ternary system MgO-FeO-CaO in contact with metallic iron has been measured at 1000 K employing the cell.PtIFe, (Mg, Fe, Ca)OIZr02 - CaOIFe, FeOlPt. Measured data are used to study the phase stability relations in the system MgO-FeO-CaO and an isothermal section at 1000 K through this system is drawn.

Jan 1, 1987

By P Murthy, Z Guan, P Townson

In this paper, we introduce a methodology to optimise mining equipment operation in terms of the conflicting concerns of productivity and availability. We also introduce the concept of damage points and equipment dutymeters. These provide the mine management with tools to monitor the success of such optimisation. Since we have quoted the results of an on-going Australian Coal Association Research Program (ACARP) project, the apparent focus of this article is on draglines. However, the concept is equally applicable to other equipment. Mining is the type of business that requires a large investment in capital infrastructure and equipment to produce a product that is sold at a relatively low unit cost. In such a business, the key to competitiveness lies in achieving the full realisation of capital investment ie sustained production at high levels. Some of the concepts outlined in this paper are essential components of this picture.

Jan 1, 2000

By B Ascott, J Kennedy, A White

At mines with low tonnes per vertical metre, like the Jundee Mine in Western Australia, operated by Newmont Asia Pacific, high development rates across multiple mining areas are critical to achieving the delivery outlined, or promised, in the annual business plan. The challenge is to deliver the short-term requirements while keeping in balance with the long-term strategic direction. Newmont Jundee has developed a system called æMine Planning by QuartersÆ that integrates the planning process with the business process in one end-to-end continuum. Short-, medium- and long-term schedules are reviewed and updated by applying four integrated subprocesses, which capture new information as it becomes available. The four subprocesses are: resource development planning û evaluating mineral resource,reserve development planning û preliminary design for new reserves,mine operating planning û final mine design for reserves, andmine production planning û detailed plans for stoping a proved reserve. Commercial mine planning software is used in these subprocesses to facilitate the flow of information into a central storage æhubÆ for uploading into the rolling business plan. A regular and consistent quarterly review helps to identify and qualify areas of business risk at an early stage, allowing time to plan for contingency and minimise the impact of the risk.

Jan 1, 2008

By Lee G, Stitt P

The term "industrial minerals" covers a vary wide field. However in Australia this field tends to be characterised by the follow- ing: (1) Relatively low unit values. (2) Product specifications can be exacting compared to the metalliferous field. (3) Product specifications often have to be tailored to the needs of the end user. (4) Beneficiation plants tend to involve low capital outlays relative to the metalliferous field. However they often have to produce products'to a range of specifications. (5) Technology often influences what can be considered as reserves. (6) Because of low unit values industrial minerals tend to be relatively cost sensitive. This is particularly the case in regard to transport. (7) Location of deposits near to major urban areas (markets) dictates a greater pressure on ecological aspects. (8) In Australia there has been a tendency to vertical integration largely due to the restricted market available. Reserves assessment is shown to be critically dependent upon the above Factors.

Jan 1, 1979

By Hunter M. M

The present value of the future profits of a mining operation, using a discount factor which represents the effective cost of venture capital, provides a measure of the projected success of the operation. The present value can be maximised by appropriate selection of cut-off grades successively through the life of the operation. A case study is presented in which detailed optimisation of cut-off grade results in a worthwhile increase in profitability compared with the use of a constant, break even, cut-off grade.Some implications of this approach to profit optimisation are discussed.

Jan 1, 1992

By Georgi H, Farquhar J. W, Lorrigan A. N

The potential for major new lenses of Volcanic Hosted Massive Sulphide (VHMS) beneath the existing Rosebery Deposit is extremely high. Recent deep drill hole intersections of massive sulphides, including 22 in true thickness at 24 per cent Zn, may significantly extend the life of the Rosebery Mine. The Rosebery Ore Deposit is located within Australia's most prospective VHMS mining district, the Mount Read Volcanic (MRV) arc of western Tasmania (Figure 1). The MRVs are a 10 - 15 krn wide arcuate belt of lavas, related intrusives and volcaniclastics. Rosebery is a major Cambrian volcanic hosted Zn-Pb-Cu-Ag-Au rich deposit which has been over-printed by Devonian deformation and granitoid alteration resulting in local rcmobilisation of the ore. The Rosebery Mine Sequence is composed of an east dipping and east facing, predominately felsic sequence of rhyo-dacitic volcaniclastics, epiclastics, sediments and shale lenses more than 500 in thick. This sequence is bounded by two, low angle (35 - 40¦), east dipping thrust faults, the Rosebery Fault to the west and the Mount Black Fault to the cast. The Rosebery Mine lithologies are summarised in the following table: Hangingwall (HW) Polymictic, quartz, feldspar-phyric epiclastics. Black Slates Graphitic, pyritic mudstones. Host Rocks Turbiditic mudstones and sandstones. Footwall (FW) Feldspar-phyric, pumiceous, mass-flow breccias. Cambrian, quartz-feldspar, porphyritic sills intrude this sequence at all levels. Thin, Jurassic, dolerite dykes also occur throughout the mine. Widespread quartz, sericite and chlorite alteration occurs in the FW. This alteration is manifested as quartz-augen schists beneath the orebody. The Host Rocks are pervasively altered with silica, sericite, chlorite and pyrite. Intense carbonate alteration occurs within the orebody, whereas chlorite and pyrite alteration is commonly concentrated directly beneath it. Cambrian volcanogenic alteration is over-printed by three major Devonian, granite-derived, assemblages. These are massive to quartz veined tourmaline, pyrrhotite-pyrite and magnetite-chalcopyrite. Though the Devonian granite has not been intersected in deep drill holes or in mine workings, there is good evidence that it exists within a kilometre of the deposit. The Rosebery orebody is structurally complex when compared to many other VHMS deposits. Evidence for Cambrian growth faulting has been found at the North End of the mine (B lens) where displacement of ore lenses occurs without corresponding displacement of the overlying Black Slates. A well defined cleavage exists throughout the mine, dipping at 28 to 50¦E. East dipping shear zones are also obvious in all parts of the mine workings and reverse movement is evident on many of these.

Jan 1, 1993

By Greenwood AG

Research into cemented rock fill at Mount Isa Mines Limited since 1992 is described. The key mechanisms controlling segregation during stope filling with cemented rock fill are described and include the gravity flow mechanism which is described in detail. Examples are provided to demonstrate these mechanisms. Comparisons are made between Mount Isa Mines' cemented rock fill and slurry-based cemented rock fills. Recent backfill stability modelling using a three-dimensional finite clement program is described.

Jan 1, 1998

Technological advances evolve in different ways; many are the result of years of application of scientific method. i.e. Observation Deduction Hypothesis Proof In the mining industry, better explosives, drill bits or reagents are likely to evolve in this way. The scientific method is suited to the application of conventional management structures. Other advances are simply the result of a "brainstorm", or building a better mousetrap. Such inspiration probably resulted in "Split Set" rock bolts, or the first use of a vacuum cleaner principle for shaft mucking. Individual consultants can apply lateral thinking to generate such inspiration. In gathering material for the presentation of this paper, I sent a.letter to all members of the Mineral Industry Consultants Association asking them to nominate problems in the industry requiring investigation. The answers have been divided into two classifications - contract research underway and identified problems requiring solutions.

Jan 1, 1986

The geographical and geological situations of the two mineral sand deposits currently being mined by Western Titanium Limited and the mining methods in use are briefly described. Production scheduling involving the ability to vary the proportions of the major minerals produced, together with maintaining a constant feed grade to the wet concentrator has been assuming greater importance to the company in recent years as the relative value of these minerals, due mainly to technological advances and environmental considerations, is subject to significant and rapid change. Manual calculation, even using a programmable calculator, became a trade-off between man hours and data usage. Schedules were updated infrequently and only a fraction of the avail- able data was used. In July 1975 a Data General NOVA 2/10 minicomputer with a 24K word core and three cassette drives was purchased. A suite of programmes was developed using BASIC to assist in production scheduling and these were opera- tional early in 1976.

Jan 1, 1977

By Ehlers HK

Mount Isa Mines Limited has 25 rod and ball mills of various sizes installed in two Concentrators at Mount Isa. A continuing investigation into installation, design and materials of liners for these mills has been in progress since the early sixties. Both manual and mechanical methods of liner installation are used and described. Materials for the various applications have been evaluated, mainly by field trials. Design of liners has also been evaluated by field trials and the history of trials in No.4 Concentrator is given. The purpose of the investigation has been to reduce the cost of mill lining and the life of many linings has been greatly increased as a result of this work.

Jan 1, 1978

By K McNabb, M H. Turner, P A. Jenkin

Mining of the Agnew nickel deposit commenced in 1970 using a variety of underground mining methods, though with mixed success due to the difficult ground conditions. WMC Resources Ltd acquired the operation in 1989, and commenced nickel production with an open pit. In 1995 all production reverted to the rejuvenated underground mine, using exclusively SLC (sublevel caving) methods. Currently the mine produces 1.4 Mt per annum, at an average grade of 1.74 per cent Ni. Underground mining of the Perseverance orebody has always presented significant challenges due to the difficult ground conditions in the weak and altered ultramafic rocks. The range of problems include areas of swelling minerals, intense and extremely weak shear zones, relatively high in situ stress, and in other areas very brittle rocks. Under these conditions rock mechanics input has been and remains a critical element of the mining strategy. Severe ground behaviour difficulties down to a depth of 500 m below surface prompted a review of the mining strategy for the large disseminated nickel orebody, including evaluation of alternative mining methods. However, sublevel caving was ultimately selected as the preferred method, and a re-design of the SLC cross-cut layout followed. A selection of rock mechanics investigations of interest are described, including complex virgin stress measurements, detailed ground behaviour monitoring, and the use of non-linear stress analyses to re-design the mine layout. Subsequent ground behaviour, support design and production scheduling are also described.

Jan 1, 2000

Risk management for resources and reserves includes examining the fundamental processes of data collection, interpretation, modelling and estimation. Newmont Australia has developed a procedures manual to assist mine sites to build Resource block models, estimate Ore Reserves, validate the outcome and report the results. An audit scheme has been developed to compliment the procedures manual by assessing the degree of site compliance with recommended practice. A score of between one and five stars is awarded to each site depending on its performance in the audit. Audits are undertaken by a team of three Newmont personnel over a three to five day period at each site. Scores are ultimately compared between sites and reviewed annually. The objective of the program is to encourage continuous improvement in the modelling, estimation, validation and reporting practices used at sites and in advanced projects. The scheme provides a method of risk management for the companyÆs biggest asset û its Ore Reserves. Newmont Mining Corporation is preparing to use the audit scheme internationally in part to conform with recent legislation requiring US companies to demonstrate that management systems and procedures are in place to monitor and verify the companyÆs assets.

Jan 1, 2003

The impulsive loading tests under confining pressure were performed to investigate the dynamic fracture properties of rocks in a triaxial stress state. The apparatus in this study consists of the Split Hopkinson pressure bar, a pressure vessel and hydraulic actuator. Magnetite-quartzite and limestone were selected for the test. The stress-strain curves and fracture strength under confining pressure obtaind in the tests were compared with those of the conventional triaxial tests. Finally it is concluded that on the effect of dynamic that on the effect of dynamic compressive strength of rock, dynamic elastic coefficient of rock and confining pressure etc. on the blasting result

Jan 1, 1990

The commonly used stainless steels, their properties and uses are briefly discussed.Two specific topics are then explored in more detai's to highlight development areas, the potential of which has been largely unexploited in mining milling, refining and smelting operations. The high strength to weight ratios achievable in austenitic stainless steels has been widely used in the transport industry to design high integrity light weight vehicles,especially railway carriages. This use has rarely been extended into other structural areas where highly aggressive environments could make stainless steel a cost effective material compared to protected carbon steels. The recently developed weldable ferritic steels are described and their potential in materials handling discussed. Particular attention is paid to 3CR12, a nominal 12% Chromium, titanium stabilised steel finding wide acceptance in the mining industry.

Jan 1, 1985

By Van Heuzen JA

The extensive deposits of brown coal in the Latrobe Valley form the major solid fuel resource in Victoria and are the energy source for most of the State's power generation. This paper describes the coalfield resources allocated for electricity generation and a potential sequential develop- ment of these areas in future years to supply future power stations.

Jan 1, 1982

Since 1975 two electric hydraulic drills, a Robbins 11ND and an Atlas Copco C0P1038, have been part of the production drilling fleet at Mount Isa Mines Limited's Isa Mine. As might be expected with innovative and technically more complex machines, breakdowns and mainten- ance problems have been greater than those experienced with pneumatic drifters. This has been especially so with the COP1038 but in co-operation with Atlas Copco, many modific- ations have been made to alleviate operating problems. The training and quality of the maintenance workforce is of great importance. The use of coloured pictorial diagrams for hydraulic trouble-shooting will aid in minimising maintenance downtime. Both machines have achieved good operator acceptance. This is the result of many factors, the major ones being the more acceptable environmental conditions, the relatively low amount of physical effort and the high degree of mechanisation. The drilling area is one in which there is great potential for cost savings and product- ivity gains. Because both machines are capable of a high drilling output, Isa Mine is confident of achieving these aims.

Jan 1, 1978

Over the past five years, dedicated tertiary mining engineering programs have become financially unsustainable in Australia on the basis of undergraduate enrolments alone. The situation is worse in other minerals related disciplines and extends to the technical minerals education sector. This paper reviews the causes for the current situation. Indicators are presented which suggest that enrolment trends can no longer be attributed only to business cycles in the minerals industry but are also reflective of a fundamental shift in student interest in the sciences and resources based engineering disciplines. Reactive responses to changing trends are diluting and compromising the quality of mining engineering education. It is unlikely that the trends can be reversed or resisted. Tertiary minerals educators need to position themselves so that they can be responsive to on-going change. Two proposals are offered which aim to anchor mining engineering in a long-term sustainable manner. The proposals have a common educational component which is concerned with restructuring how mining engineering programs are presented and providing more flexible access to such programs. However, the two proposals have significantly different commercial components. The commercial component of first proposal is concerned with working within the traditional education framework of universities to endow a critical number of core staff positions. It effectively equates to fund raising. The second proposal is concerned with developing a stand-alone commercial operation around the education and research advantages of the global and multi-disciplinary university system. As a shareholder in this business, a university department would earn dividends that it could then use to support its education initiatives. This proposal provides a performance-based mechanism for supporting university minerals programs and has the potential to be cost-neutral. Both proposals are suited to resource sharing with a select number of international mining schools and to the incorporation of the other tertiary minerals disciplines under threat.

Jan 1, 2000

By Hewitt D

A study of two laterite profiles developed on a serpentinite near Rockhampton, shows that loss of Si02 and MgO results in the relative concentration of Fe203, A1203 and a number of minor elements. Serpentine is broken down to form montmorillonite, goethite, quartz and kaolinite. Enrichment of nickel occurs, and it is shown that the element is mainly associated with montmorillonite and serpentine. Highest nickel values are associated with a zone in the profile which occurs at a depth of 10.5-22 metres, and the bulk of the nickel in this zone (42-80%) is associated with the

Jan 1, 1974

Water is required as a key strategic resource in most mining and metallurgical processes and, in some countries, it has become a limiting supply for the development of mining activity. During the last years, mining industry efforts have been successfully focused on water use efficiency in the different processes. However, these efforts will not be sufficient to compensate for the growing demand of mining products and the decrease of ore grades. New efforts should be oriented to the search for alternative water supplies such as sea water, with or without desalinisation, or water harvesting. But to survive this growing pressure and to get a social licence to operate, the mining industry can also assume a proactive attitude and pursue a prominent role in water management at regional and local scale. This paper reviews some of these emerging issues, particularly in the context of the Chilean copper industry.

Jan 1, 2009