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By G K. Robinson

Variations in many aspects of physical and chemical grade are often of concern to mining operations and mineral processing plants. In most circumstances these amounts of variation are predictable. At the time of planning new operations, we should be able to predict the amount of sampling and testing variation which our sampling devices, laboratory procedures and on-stream analysis devices will achieve. We should know how well our stockpiles, reclaimers and bins will homogenise material (or whether segregation will actually increase the amount of variation). We should be able to predict the amounts of variation that will occur on the important time or tonnage scales at the crucial p oints in our proposed operation. And once these amounts of variation are reliably known, mine planning will seem a little bit more like dealing with known knowns rather than like dealing with unknown unknowns.The first step towards quantifying amounts of variation for planned operations is to assess amounts of variation for existing operations. How many operations have estimates of amounts of variation in their databases? How often are people able to partition amounts of variation into amounts due to sampling error, amounts due to sample preparation, amounts due to assaying, and the amount of real variation in the stream of material?CITATION:Robinson, G K, 2012. Making sure that the amount of grade variation is a known known, in Proceedings Project Evaluation 2012 , pp 159-162 (The Australasian Institute of Mining and Metallurgy: Melbourne).

May 24, 2012

By P Holtham, W Valery, P Baguley, A Jankovic

There is a growing interest in magnetite ores because of the increasing demand for this commodity. With these ores, there is significant cost associated with milling the ore to fine sizes using ball mills in closed circuit with hydrocyclones. Cyclone classification efficiency tends to be poor due to the large difference in density between magnetite and gangue. This decreases the grinding circuit efficiency and results in over-grinding of magnetite. The objective of the work described in this paper was to modify the Bond locked cycle milling test procedure to quantify the loss of grinding circuit efficiency due to the mineral density effect. The locked cycle test procedure described here includes a stage of magnetic separation treating the closing screen undersize, which allows simulation of magnetite classification. The effect of classifier efficiency on low-density particles (non-magnetics) was simulated by altering the proportion of closing screen undersize bypass returning to the mill. Using a magnetic separator and a screen in the magnetics stream, different proportions of the magnetic fraction can be bypassed, thus allowing simulation of the effect of particle density on classification efficiency. This laboratory test work has confirmed that the impact of mineral density on cyclone efficiency subsequently has a crucial negative effect on ball mill circuit capacity. The results are in good agreement with reductions in capacity observed in practice. Multicomponent grinding and classification models were also developed in the LIMN software environment and were able to successfully simulate both the industrial and the laboratory ball mill circuit. The test and modelling procedures established in this project could be used for improved design of new magnetite ball mill grinding circuits as well as the optimisation of existing circuits.CITATION:Jankovic, A, Baguley, P, Valery, W and Holtham, P, 2015. Effect of mineral density for milling magnetite ores, in Proceedings Iron Ore 2015, pp 159–164 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Jul 13, 2015

Since the initial discovery of phosphate rock resources in North West Queensland in 1966, significant changes in ownership and development direction have occurred. Initially development of the resource involved beneficiation to produce a more saleable grade of phosphate rock. However more recently development has focused on the production of a high analysis fertilizer product on the minesite. These changes have been influenced by economics, industry/government cooperation and a changing phosphate industry.

Jan 1, 1998

By P Klaric, N Swart, S Barnes

The recent advances in digital imaging technology, specifically around photogrammetry, have facilitated precision measurement in the difficult conditions encountered in an underground development mining environment. With the recent downturn in the resources industry, many mining houses have begun to focus on cost reduction projects and driving efficiencies. The application of digital photogrammetry has allowed greater insight into the development mining cycle and supported a focus on areas where efficiencies and cost savings can be achieved. Data collation, via digital image capture, can be completed with minimal disruption to the development mining cycle with analyses taking a nominal time to process and interpret. The result can be a stark visual representation of the result of blasting and associated activities of the development mining cycle. Many millions of dollars of benefit can be derived from understanding the impact of each component of the development mining process, with some of the biggest savings associated with conformance to drill design and the minimisation of overbreak during blasting. This paper will explain the image capture process, analyses and instigated improvement opportunities that were undertaken at a number of mine sites to improve efficiencies and drive savings in their development mining processes.CITATION:Klaric, P, Swart, N and Barnes, S, 2017. Digital imaging provides valuable insights into underground development mining, in Proceedings 13th AusIMM Underground Operators’ Conference 2017, pp 129–134 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Oct 16, 2017

By A Romanel, M S. Kato, M P. Piermatei, P Artioli

"Brazil is the sixth worldwide producer of aluminum and Votorantim (Metals) has been operating three bauxite open pit mines in a particular way of working. In those the deposits occur on the top of hills, under forest, coffee, eucalyptus plantation or pasture area.The deposits are not large and normally mining takes an average of two months to be completed before starting the rehabilitation process, which demands a good strategy in mining planning to achieve the production goals.The benefit function developed to select feasible areas uses, beyond production costs, fees from the owner by using their area and rehabilitation cost. Both are based on land use and occupation field survey data. In this process each area with different land use receives a specific rehabilitation cost as input into a block model.Once the selection is made the mining schedule begins, taking into consideration the following premise: the orebody needs to be mined in a short period of time because during this time, the surface owners receive from Votorantim a compensation based on the expected profits from their plantation or pasture, plus royalties related to the ore amount existing in their area.Not all operations have waste dumps. Waste is pushed down by bulldozers to the lower part of the ore border. After loading and transporting ore, the waste is handled back to the mined area to fit the topography. With this step concluded, the mined area is directed to the environmental team who, alongside university partners, develop land reclamation to return them to their owners, eg in 2011, 110 ha were rehabilitated of which 29 per cent is native forest.Votorantim closes many mined areas a year and currently the entire mine planning considers this particular way of operation, making profit with minimum interference with the community and the environment.CITATION:Artioli, P, Kato, M S, Romanel, A and Piermatei, M P, 2012. Environmental variables at bauxite mine, in Proceedings Life-of-Mine 2012 , pp 171-178 (The Australasian Institute of Mining and Metallurgy: Melbourne)."

Jul 10, 2012

By W Ludlow, C Harrington

This paper presents an overview of the design and construction challenges to implement capping systems on Tailings Storage Facility’s (TSF) based on recent projects in Australia. Key aspects discussed include the cover design and barrier system to encapsulate the tailings, designing for a service life of 1,000 years, water management considerations. construction on tailings, vegetation selection and agronomy of the available capping soils plus the Health, Safety and Enivornmental challenges faced in working on tailings. Lessons learned from experience in capping TSFs are also presented. CITATION:Ludlow, W and Harrington, C, 2018. Experience with Capping of Tailings Storage Facilities for Decommissioning Projects in Australia, in Proceedings Mine Waste and Tailings Stewardship Conference 2018, pp 157–165 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Jul 23, 2018

By S Hapugoda, M Peterson, A Haileslassie, A Poliakov, E Donskoi, L Lu

Most metallic iron in the world is produced in blast furnaces from different feed stocks – sinter, lump ore and pellets. Sinter is the main iron-containing feed to the blast furnace and can constitute up to 70–85 per cent of the total ferrous burden. As sinter quality is a key element for stable blast furnace operation, the textural, chemical and physical characteristics of the sinter are very important. Two major factors that affect sinter strength are mineralogy and porosity. This study utilised optical image analysis (OIA) to characterise sinter mineralogy, and the results were compared to those obtained by manual point counting under the optical microscope.Two major mineral characteristics of iron ore sinter are the presence of primary (unreacted) and secondary (derived from melt) hematite. Standard OIA, which is based on RGB thresholding, is not able to distinguish them as they have the same reflectivity; however, primary and secondary hematite in iron ore sinter have a different morphology. The CSIRO-developed OIA software Mineral4/Recognition4 has a unique feature to identify various textures/morphologies of the same mineral. Together with other capabilities of the Mineral4/Recognition4 software, this feature was used to identify different types of hematite and silico-ferrite of calcium and aluminium and other common sinter phases, such as magnetite, larnite, glass and remnant aluminosilicates.A visual comparison of the sinter mineralogy present in optical photomicrographs and that present in the mineral maps created automatically by the Mineral4 module of the CSIRO software confirmed the accuracy of the automated mineral identification.CITATION:Donskoi, E, Hapugoda, S, Lu, L, Poliakov, A, Peterson, M and Haileslassie, A, 2015. Advances in optical image analysis of iron ore sinter, in Proceedings Iron Ore 2015, pp 543–548 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Jul 13, 2015

By A R. Penney

Safety management, both personal and that associated with catastrophic hazard, helps to define the success of mining companies. Personal safety management, often categorised by slips, trips and falls, has been widely addressed, with numerous approaches successfully adopted. Catastrophic hazard can lead to a single accident (eg ground collapse, underground fires etc) causing multiple fatalities. Catastrophic hazard management in mining is an emerging discipline, and as such there are various pitfalls to demonstrate its effectiveness and success; it is much more than simply meeting regulatory requirements. Various standards, guidelines, and leading practices are available for reporting key performance indicators. While measuring and reporting safety related key performance indicators (KPIs) such as Total Recordable Injury Frequency Rate (TRIFR), Lost Time Injury Frequency Rate (LTIFR), are important, they often lack detail, and give little insight into the effectiveness of catastrophic hazard management strategies and controls. Catastrophic hazards are low likelihood, high consequence events, and as such demand a different management approach. Companies cannot use the suite of personal safety metrics to help demonstrate management of catastrophic hazards. In-field verifications have revealed that senior management commitment to safety is often clear, well organised, and resourced. However, there are often some inconsistencies between what management promotes and plan, to what the operational teams understand and implement. Communication and clear understanding of expectations were the common themes identified to help empower supervisors to reinforce requirements of catastrophic hazard management. A lack of specific, measurable, and time-sensitive goals and objectives for the short- or medium-term, making it challenging to track progress was another key observation. Development of an integrated, multi-disciplinary auditing process executed by an experienced team of technical subject matter experts, provided an in-depth understanding of the requirements of catastrophic hazard management. Areas such as underground fire prevention, explosive storage, electrical safety, mobile vehicle interactions, ground control, inrush, and shafts and winders management have substantial overlap and intertwined processes, and similar strategies for emergency responses. Auditing of catastrophic hazards and safety management systems compliance is only the first step in safety assurance. Completing operational performance audits in technical areas and benchmarking the site verification of safety management documents and verifications forms a critical part to clearly demonstrate industry leading safety practices. No longer is it the external inspection or regular hazard management plan review requirements that dominate, but rather the culture of continual hazard identification, management, controls verification, underpinned by improvement and follow-up verifications of the corrective actions.

Mar 29, 2023

By K Vallo, T Haimi, J Pihlasalo, J Hamuyuni, M Lindgren, F Tesfaye

Decarbonisation of the steel industry has recently attracted a lot of research and technological development. Most of the technological developments are centred around the replacement of blast furnace (BF), which has been the main primary smelting furnace in the ironmaking step of steel production. Replacement of the BF is not an easy task because of BF’s many established capabilities over the years, especially its ability to use low-grade iron feed. In this regard, Metso has developed its own technology, Metso’s Outotec direct reduced iron (DRI) smelting furnace, to tackle this problem. The recently developed six-in line electric furnace for DRI smelting can be used for primary smelting of DRI from blast furnace grade iron ore. Unlike the electric arc furnace (EAF), the DRI smelting furnace can handle larger slag volumes that emanate from the high gangue in BF grade DRI. Therefore, fluxing plays an important role in operating the DRI smelting furnace. This paper presents fluxing options and proposes slag quality and operating windows for the DRI smelting furnace. Also, the effect of slag on refractory durability will be discussed.

Jun 19, 2024

By Sarkar B. C, Sen A. K

India is well endowed with vast reserves of banded hematite ore, about 12 billion tonnes, estimated by some conventional methods. Various authors have assessed this huge reserve using some advanced geostatistical methods. A Banded Iron Formation (BIF) belt named the `Singhbhum-Keonjhar-Bonai' belt in India has been chosen as a case study. In this paper, the experiences of Chiria iron ore, in particular, have been described. This study will finally create a dynamic mineral inventory after standardising the geostatistical parameters which will help to cater for the needs of the stringent quality requirements of the Indian steel industries.

Jan 1, 1995

By Q Fan

The steelmaking desulfurisation plays an important role in coal-based steelmaking route of blast furnace and BOF converter within the flow sheet of BF-deS-BOF. With the advent of H2-based ironmaking and steelmaking process, the transition flow sheet of DRI-Smelter-BOF has been assessed and developed by the steelmaking industry. What is the role of deS in H2-based route of DRI-smelter-BOF? This paper will present the influence of sulfur-containing iron ore on steelmaking desulfurisation and the leading role of EAF-smelter played in H2-based steelmaking route. The sulfur contents of iron ore vary considerably around the world and lower-grade iron ores with high sulfur are likely to be used for H2-based route, a considerable amount of sulfur that comes from DRI will report to the melt of EAF-smelter and the operating conditions of EAF-smelter also impact the sulfur content of the hot melt for steelmaking deS. The EAF-smelter of H2-based route is the focus of the steelmaking industry at moment, unfortunately, an industrial-scale EAF-smelter has been the missing link of the flow sheet of DRI-Smelter-deS-BOF, despite similar EAF-smelters being used for various applications of Fe-Ti and Fe-Ni processes. The latest progress is that several pilot-scale and industrial-scale EAF-smelters with reducing capability are planned for construction within next several years and low-grade Australia iron ores are certainly to be employed as basic feedstocks for H2-based route of DRI-Smelter-deS-BOF.

Sep 18, 2023

By D Xu

BHP Billiton Iron Ore is one of the world’s premier suppliers of iron ore. It currently has operations in Western Australia and Brazil and also has some iron ore interests in West Africa.BHP Billiton’s Optimisation R&D team has developed a proprietary mine planning optimisation tool that uses a mixed integer linear programming (MILP). This tool is called Blasor and it is used to rapidly evaluate the resource development potential (RDP) scenarios for the company’s business development strategy. In addition it generates life of asset (LOA) mine plans for the company’s operations and growth projects. The Blasor optimiser maximises the discounted operating cash fl ow (DCF) as the objective function, subject to mining, processing and transportation capacity constraints and blended product quality constraints. The paper will outline how Blasor has been applied to the resource development potential (RDP) strategy scenario studies, growth project evaluations and LOA mine planning within BHP Billiton Iron Ore.The practical application of Blasor to resource planning optimisation within BHP Billiton Iron Ore has demonstrated the value of such a tool for optimising strategic directions through the evaluation of a number of carefully proposed scenarios and maximisation of operational decisions, such as cut-off grade, open pit development sequence, etc. Particularly for the company’s business development direction studies, Blasor plays the role of a fair valuation tool in that it discovers the most valuable resource development scenario, thus establishing a sound basis for comparing the economic merits of each scenario.

Jul 11, 2011

By LefTvre Y

In May 1991, AZSA commissioned a new conventional Cell House. This paper focuses on the major improvements introduced in the design and the construction of the equipment, machinery and control. An effective control system together with good reporting and routine operation has resulted in quality control of the Cell House at the highest possible level. Consequently the monthly current efficiency consistently averages above 93 per cent with a total energy usage of 3000 AC kWh/t of cathode zinc. The new concept for the year 2000 and beyond is introduced.

Jan 1, 1993

By McQuade C. V

Mining is an activity which has, in the past, been regarded as often leaving land in a condition unfit for further use. As the need for development that is both economic and ecologically sustainable has grown, so the issue of re-use of land after mining has become significant. During operation it is usual that mine environmental conditions which minimise unnecessary or avoidable environmental impact are agreed with the regulatory authorities . These conditions are usually set down in such a way that they can be interpreted reasonably well by both miners and regulators. However, the conditions to be met by a mining company before it can be absolved of responsibility of a site are often less clear. The close-out criteria by which the success of rehabilitation programs will be judged have received little attention in the past. These conditions are now growing in importance as the costs of rehabilitation of a mine site to an agreed post-mining land use assume greater significance in the economics of mining. This paper briefly describes the status of close-out criteria presently being applied across Australia. A comparison is made with similar guidelines from other countries.

Jan 1, 1994

By J P. Sykes, A Trench

"The common-held view of the future of copper mining is one of declining quality of mineral resources and increasingly limited long-term development options. This decline, in turn, is viewed as inevitably leading to increasing economic, socio-political and environmental costs. As a result, new technologies and innovations will be required to mitigate cost escalation. The future is therefore typically summarised as a battle of a ‘below-ground’ declining quality asset base pushing costs upward versus ‘above-ground’ technology and innovation driving costs downward. The role that high quality new mineral discoveries could play in mitigating industry cost pressures is typically understated, if considered at all. New high quality discoveries can be mined at lower cost than existing assets and potentially if discovered in the right locations within a more amenable contemporary environmental and socio-political setting. Such deposits, once discovered, would improve the overall quality of the industry asset base, as well as benefitting their owners substantially through higher margins. However, to target new high quality deposits explorers need some understanding of the nature of high quality copper mines in the long-term future. Conventional scientific and economic techniques for analysing the future of copper supply, generally by studying the project pipeline, ignore as yet undiscovered resources and also struggle to fully incorporate the multiple internal and external factors that could impact upon copper mining practices in the future.Scenario analysis is specifically designed to consider multiple factors interacting in the future, and is thus more creative than simply looking at the visible project pipeline. The use of scenarios is therefore potentially capable of providing insight into aspects of the future of copper mining about which little is currently known or that remains considerably uncertain. In this study, the Oxford University Scenarios methodology was employed to analyse different plausible futures for copper mining and the consequent implications for exploration targeting strategies. The scenario analysis highlights two key dimensions or axes that serve to map out potential industry futures: firstly the technical and economic optimisation of the existing industry; and secondly the generation of new prospects or ‘search space’ for the copper industry. These two axes in turn frame four different scenarios for the future of the copper mining industry. These copper mining scenarios are then compared to the 20 largest existing copper mines and projects, and their owners, to determine if any represent an appropriately robust exploration targeting proxy: none do. The paper therefore concludes that efforts by industry are required to generate mine concepts that would be viable across all scenarios, and thus act also as exploration targeting proxies. In the interim, companies will have to seek to build portfolios that create an overall robust asset base, out of individually less robust assets. Failure to do this implies that consequential, irreversible strategic decisions lie ahead for the copper mining industry, which may be a threat to both incumbents and the very industry itself. This situation makes strategic exploration targeting in the copper industry very difficult.CITATION:Sykes, J P and Trench, A, 2016. Using scenarios to investigate the long-term future of copper mining and guide exploration targeting strategies, in Proceedings International Mine Management Conference, pp 265-290 (The Australasian Institute of Mining and Metallurgy: Melbourne)."

Jun 22, 2016

By E Jak, P Hayes, J Chen, M Shevchenko, E Nekhoroshev, D Shishin

Recent decades have seen significant advancements in analytical and experimental techniques, thermodynamic theory, and computational capabilities in high temperature research which are particularly timely to address the challenges of increasingly complex and variable feedstocks in both primary and secondary pyrometallurgical processes, the need to optimise and improve them. Currently a research program is in progress on the development of the 20-component multi-phase thermodynamic database for pyrometallurgical smelting, refining and recycling systems describing thermodynamics and phase equilibria of molten slag, matte, speiss, salts, alloys and associated solids. The integrated experimental and modelling program has been supported for nearly two decades by several consortia of 14 major international companies with over 30 operations around the world, integrates many components, incorporates many in-house developments, and brings together many different groups of professionals of different levels from junior and mid-career to senior from both industry and university sectors. The aims of the paper are:  to outline the many components and issues of the overall program including analytical, experimental and thermodynamic modelling research as well as implementation of the results in industrial practice, professional education, planning and organisation issues.  to highlight the opportunities, challenges, and possible solutions.  to present these to all different groups of professionals involved in the current program.  and thus, importantly, to facilitate possible future further developments and collaborations in the field of phase equilibria and thermodynamics of complex high-temperature systems.

Jun 19, 2024

By C Katonga

Mindola mine is currently the deepest mine in the Zambian copper belt. Stoping is currently active to 1330 m below surface with long range plans indicating future production from 1590 m level. The orebody is tabular and dips between 55o to vertical. The thickness varies from 8 to 14 m. The vertical crater retreat method of mining was first introduced at Mindola mine in the late-1980s following several trials that helped define the design criteria for its application. Over the last ten years the method has been continually modified to improve safety and maximise ore production. For example, due to the weakness of some rock units within the orebody formation and the instability of the hanging wall, the last VCR slices are usually between 8 - 10 m thick, and efforts are being made to strictly apply shrinkage method in order to reduce dilution. Recent advances in mining technology in the areas of equipment, blasting techniques, rock mechanics and materials handling have been employed to increase the overall productivity of the mine. Large down-the-hole machines capable of drilling 165 mm diameter blast holes, up to 80 m long are used in stoping. Each stope produces up to 20 000 tonnes of ore per month and can last for three months. Heavy systematic ground support of VCR development has significantly enhanced safety for mining crews and equipment. Crater mining has not only improved productivity and enhanced safety, but also overcome various problems associated with conventional sublevel open stoping previously employed at the mine. This paper discusses the technical and operational aspects of vertical crater retreat mining at Mindola mine during the last ten years. The changes in mining method are often accompanied by changes in mine design, blast design, mining equipment, ground support and operating practices.

Jan 1, 2000

By M Pepper, C R. Roche, G M. Mudd

"The Australian mining industries approach to life-of-mine planning has improved considerably in recent decades. It now needs to be matched by, and embedded in, mining governance systems that utilise a comprehensive whole-of-mine-life approach within a jurisdictional, industry and regional regime rather than just focusing on specific impacts in isolation. The need for a more comprehensive approach is supported by the many mining legacies, from historic, recent and some operating mine sites around Australia. There are sites that are leaving enduring environmental, community and public health impacts that are yet to be accurately assessed. While a number of these sites in Australia are estimated to be more than 50 000, this is probably an underestimation, with a lack of data and different state-based approaches complicating attempts to quantify mining legacies as a national issue. Qualitative assessments about the extent and nature of mining legacy impacts on nature and communities across Australia are also required if we are to understand and avoid ongoing and future mining legacies.This paper commences with an exploration of mining legacies as an umbrella term for previously mined, abandoned, orphan, derelict or neglected sites. This is followed by a discussion of the current status of mining legacies as an Australia-wide issue, contrasting the Australian response with overseas examples. Common themes from past workshops are explored recognising that mining legacies are a growing public policy issue and identifying key ingredients for a successful response. Supporting this, and based on national data which re-enforces the need for action, is the changing scale and intensity of mining in Australia that, while lowering costs for mine operators, increases the liability that may eventually fall to the state if mine sites are not rehabilitated effectively. Though a national issue, mining is a state and territory responsibility, so the current approach to mining legacies is then examined state-by-state. Given the widespread application and recent changes to bonds and levies in Western Australia (WA) and the Northern Territory (NT) the merits of both are examined with reference to specific case studies. Despite the current division of responsibility and diversity of approaches, however, mining legacies remain a significant and growing problem with a recognised need and repeated call for cooperation and coordination at a national and international level. Future action is addressed in the final section with reference to liability, responsibility, industry reputation, regulation and leadership.CITATION:Pepper, M, Roche, C R and Mudd, G M, 2014. Mining legacies – understanding life-of-mine across time and space, in Proceedings Life-of-Mine 2014 , pp 449–466 (The Australasian Institute of Mining and Metallurgy: Melbourne)."

Jul 16, 2014

By R Schmitt, Y Ghorbani, I McElroy, N J. Bolin, M Parian

Aitik is a large copper porphyry type deposit located in northern Sweden, currently exploited at an annual rate of approximately 45 Mt. The ore’s exceptionally low head grade of 0.25 per cent Cu and varying degrees of hardness across the entire deposit pose challenges to the two fully autogenous grinding lines, each of which comprises a primary autogenous mill in series with a pebble mill. The variability in ore grindability frequently leads to fluctuations in mill throughput. Within the framework of a geometallurgical approach, the present study investigated the relationships between ore grindability and modal mineralogy. For this purpose, drill core samples from different lithologies were subjected to Boliden AB’s in-house grindability tests. This fully autogenous laboratory-scale test generates a grindability index mainly related to abrasion breakage, which is a significant breakage mechanism within autogenous mills. The test results suggested divergent degrees of grindability within and across the selected rock types. A combination of scanning electron microscopy, X-ray powder diffraction, and X-ray fluorescence analyses was performed for the grinding products and bulk mineral samples. The resulting mineralogical and elemental properties were subsequently correlated to the parameters from the grindability tests. It was shown that the main mineral phases, such as plagioclase, quartz, and micas, correlate well with the grindability indices. Similar correlations were found regarding the sample’s chemical composition, attributable to the main mineral phases. A further inverse correlation was established between the sample’s calculated average Mohs hardness and the grindability indices. Moreover, mineral liberation information provided by scanning electron microscopy was associated with the parameters mentioned earlier. The identified relationships between grindability, modal mineralogy, and element grades may help Boliden develop a predictive throughput model for Aitik based on the mine’s block model.

Aug 24, 2022

A broker relies heavily on mineral valuations and independent experts' reports to provide the fundamental information, both technical and commercial, which provides the basis of estimating the sharemarket value of securities and underlying assets. It is important to appreciate the significant variance that can occur between the market value and other types of valuation at a particular point in time. In general, most experts' reports and valuations seek to provide estimates of technical/fundamental or ""fair"" value which correspond to the Corporations Law and accounting standards requirements. They do not usually attempt to estimate (stock) market values and it is usually and quite correctly the broker's task to estimate market values on the basis of a technical appraisal and consideration of all other commercial, market and financial influences. Therefore ideally, an independent experts' report or information memorandum will include material relating to commercial and management aspects of a company as well as detailed technical reviews and fundamental valuations. Wherever sensible cash flow projections can be made, cash flow-derived valuations, usually based on discounted cash flow (DCF) calculations, remain the preferred valuation methodology. Brokers in general would not argue with this preference. However, there is a paucity of examples of valuations where alternative methods are applied as a check on the reasonableness of a DCF-based estimate.

Jan 1, 1994