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By M Haest, O Dominguez, D Mittrup

With the current focus in the mining industry on reducing costs, while simultaneously improving ore quality, infrared spectroscopy is a tool that can potentially assist companies to meet both challenges. Changes in the nature of infrared spectra are strongly influenced by changes in mineralogy, which is a key input variable for exploration (geology and orebody modelling and ore characterisation) and mining (pit design, mine scheduling and processing plant design/management).Infrared spectroscopic logging of drill holes has been embedded as a standard tool in BHP Billiton Iron Ore exploration, with a process set up to automatically deliver mineralogy and associated imagery to the end users (typically exploration geologists). The availability of consistent and automated mineralogy drill hole logs across a project is improving the output quality and reducing re-work.BHP Billiton Iron Ore is now looking into using the same infrared spectroscopic data for other applications, including improving predictions of geometallurgical and geotechnical parameters. Trials show that addition of infrared spectroscopic data to conventional data sets (element analysis and depth information) is significantly improving the accuracy of regression models to predict the lump-fine ratio.Further initiatives around infrared spectroscopic data in BHP Billiton Iron Ore include the installation of infrared spectroscopic sensors over conveyor belts, infrared spectroscopic mine face scanning and infrared spectroscopic blasthole logging. The ultimate vision is to have consistent, seamless mineralogical data from infrared spectroscopic sensing available throughout the mineral value chain (exploration/mining/processing). This seamless infrared spectroscopic data ‘bridge’ will allow the transfer of knowledge between the different sections of the value chain (exploration, mining and processing). For example, ore handle-ability could be predicted on exploration samples using regression models built from processing plant observations. In the opposite direction, information gathered about the buried stratigraphy by infrared spectroscopy utilised during exploration, could be used to predict the stratigraphy encountered during mining. This collaboration across BHP Billiton Iron Ore is expected to deliver significant savings, while improving the quality of the final product, thus helping to drive efficiency over the next decade.CITATION:Haest, M, Mittrup, D and Dominguez, O, 2015. Reaping the first fruits – infrared spectroscopy: the new standard tool in BHP Billiton Iron Ore Exploration, in Proceedings Iron Ore 2015, pp 277–284 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Jul 13, 2015

By B Smith, R Gelson

Springvale Colliery is an underground longwall mine situated approximately 10 km north-west of Lithgow in the western coalfields of New South Wales. Following a full-scale review of the mineÆs ventilation system in mid-2010, it was clear that the mine by early 2013 would become ventilation constrained as a result of the increasing size of the mine workings, the predicted worsening tailgate conditions and plans to introduce a fourth continuous miner unit. This realisation led Springvale to embark on a major upgrade of the mine ventilation system that would meet short-term and life-of-mine (LOM) requirements.Included in the upgrade project was the installation of a new high pressure centrifugal main exhaust fan that is capable of overcoming the high resistances imposed frequently on the circuit by restrictions in the tailgate airway. The new fan featuring a 2.5 MW motor is designed to be capable of operating at a quantity of 250 m3/s at a pressure of 7.9 kPa, a substantial improvement over the previous system, which had an operating duty of approximately 145 m3/s at 1.9 kPa. The new fan is of a centre hung design and features a backup diesel motor to maintain ventilation in the event of a power outage.Structural engineering analysis determined that under the operation of the new main fan the existing standard of ventilation control devices (VCDs) at Springvale would not be adequate to withstand the increase in differential pressures. As such, an upgrade of critical VCDs was undertaken utilising a novel high flexural strength (9 MPa) shotcrete and thin spray-on liner, which help serve to safeguard the structural integrity of the appliances and prevent increased leakage as roadway conditions at VCD sites deteriorate over time (a serious problem in many areas of the workings at Springvale).In addition to the main ventilation system upgrade, a separate upgrade focusing on improving development face ventilation was also undertaken. This upgrade included the purchase of two high capacity (22 m3/s) variable inlet vane (VIV) auxiliary fans to facilitate comfortable development face ventilation.The upgrade of the mine ventilation system at Springvale has been three years in the making, but has removed a major business risk in that it has afforded mine planning and operational flexibility (a fourth unit can now be introduced) for the LOM, and importantly provided unprecedented levels of comfort to operators at the working faces where previously ventilation and heat issues were frequently reported. The impact of this on the morale of the workforce, and hence their output, should not be underestimated.CITATION:Gelson, R and Smith, B, 2013. Life-of-mine ventilation system upgrade at Springvale Colliery - A case study, in Proceedings The Australian Mine Ventilation Conference , pp 79-86 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Jul 1, 2013

By M L. Leybourne

In 2012, in response to an increasing potential unfunded liability, the Western Australian Government passed the Mining Rehabilitation Fund Act 2012. The intent of this Act was to introduce an annual levy on tenements covered under the Mining Act 1978 based on the area of disturbed land. The fund generated from these levies could then be used to rehabilitate mining sites where all other options to ensure rehabilitation had been exhausted. The fund could also be used to rehabilitate abandoned sites or features which, in Western Australia, number over 10 000.The Mining Rehabilitation Fund (MRF) was implemented on 1 July 2013 for an initial voluntary year. It becomes compulsory on 1 July 2014. By the end of March 2014, nine months into the voluntary period, over $6.5 million had been paid into the fund. The incentive for tenement holders to voluntarily enter the fund was the opportunity to have unconditional performance bonds held against their tenements retired. While there will be circumstances where bonds will continue to be applied, it is the State Government’s intention to retire most of the bonds.The MRF has received mostly accolades from industry and companies that have entered. Most have found the system easy to use. The MRF was also cited as a reason for Western Australia’s improved position in the Fraser Institute’s annual survey of mining jurisdictions. Work is now starting on processes to select priority abandoned mines for rehabilitation.This paper explains the background to the MRF and its development, and reviews its implementation during the first, voluntary, year. It also discusses how the fund will be managed into the future and what this will mean for both abandoned mine features across Western Australia and any future abandoned mine sites.CITATION:Leybourne, M L, 2014. Ensuring rehabilitation into the future – The Western Australian Mining Rehabilitation Fund, in Proceedings Life-of-Mine 2014 , pp 441–448 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Jul 16, 2014

By H Law, M Muller

Mount Isa Mines (MIM) Copper Concentrator currently utilises Agitair 120 banks for its roughing flotation circuit. Apart from a rotor change, the only other significant work completed to the Agitair banks since their installation and commissioning over 40 years ago has been a like for like refurbishment in 2016. The Agitair banks at the MIM Copper Concentrator currently utilise the Pipsa rotor design which progressively replaced the original Chile X rotor design in the 1980’s and 90’s in the copper concentrator. Since the development of the Pipsa rotors, modern rotors such as the Dorr-Oliver (DO) high shear rotors have been released to the market with proven recovery and concentrate grade improvements over previous rotor designs. This paper aims to detail the installation, testing and comparison of Pipsa versus Dorr-Oliver rotors in two different flotation sections of the MIM Copper Concentrator.CITATION:Muller, M and Law, H, 2018. High shear rotor trials in the Mount Isa Mines Copper Concentrator, in Proceedings 14th AusIMM Mill Operators' Conference 2018, pp 393–402 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Aug 29, 2018

By D J. Williams, S Islam

Fine-grained coal tailings slurry undergoes only limited settling and self-weight consolidation, and tends to remain slurry-like and unsuitable for conventional laboratory consolidation testing. In addition, constant rate of loading consolidation testing is more representative of the continuous disposal of tailings slurry into a tailings storage facility (TSF) than conventional step loading. The laboratory consolidation testing of coal tailings slurry under a constant rate of loading has been carried out in a purpose-built, large-scale, slurry consolidometer, instrumented with load cells and pore water pressure (PWP) transducers. In the slurry consolidometer, the rate of loading may be varied to represent the actual rate of rise of the tailings in the TSF. A slow rate of loading increases the test duration, while too fast a rate of loading may build up very high excess PWP, without achieving significant consolidation. For the particular fine-grained coal tailings slurry tested, the rate of loading in the slurry consolidometer is varied to access its effect on the development and dissipation of excess PWP. The resulting consolidation parameters are evaluated and explained using the recorded settlement and PWP data.CITATION:Islam, S and Williams, D J, 2018. Optimisation of constant rate of loading slurry consolidometer testing of fine-grained coal tailings, in Proceedings Mine Waste and Tailings Stewardship Conference 2018, pp 72–80 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Jul 23, 2018

Although mining, particularly of gold and coal, played a significant role in the development of New Zealand, from the time of the spectacular gold rushes of the 1860s its economic importance to the country as a whole has decreased substantially since that time. Gold, coal and non-metallic agricultural and industrial minerals have been found in economically significant quantities, however, the search for base metals has not been successful.

Jan 1, 1982

By J Kwak

Driving sustainability concepts and practices into the heart of the design process is the key to achieving a successful, sustainable plant design. Engineering design practices, tools, systems and methodologies should be prepared around true eco-efficiency parameters, adopt wholesystems-thinking and consider life-cycle impacts for the design task. Experience dictates that the application of sustainable plant design practices is most likely to succeed if: The principles are well documented and explained. All stakeholders agree on what sustainability means. Sustainable plant design is treated as a core process. The principals of sustainable plant design are equally applicable in brownfield and Greenfield environments. Although brownfield situations provide the designer with less latitude for change, these types of projects do allow easier measurement and demonstration of relative impacts. This paper further develops the above points by drawing on case studies from HatchÆs repertoire.

Jan 1, 2004

By J E. Powalisz

"The application of automated sampling techniques can help to provide a representative sample of process fluids and slurries that provide data for controlling process, custody transfer and quality assurance and quality control purposes.The automation of sampling provides a more consistent and reliable sampling process and eliminates many of the human-induced errors. Automated sampling can also provide a higher degree of safety in the plant/processing environment as well as better bottom-line results.Automated, fixed volume samplers can provide a very representative sample by integrating many small ‘grabs’ of sample from a process. Automated samplers can be controlled in a variety of ways to optimise the sampling process, including:cycle ratedwell timetotal volume.Properly selected and applied, an automated sampler can effectively isolate the operator from the process fluid during sampling and, to a great degree, during sample container collection.A variety of materials of construction, including seals, are available to handle demanding mining applications. Alloy 625, alloy 2205, AL6XN® and even certain plastics are used successfully in mining slurry applications.This paper explores the application of automated, fixed volume, batch style samplers in copper/nickel and gold processing, specifically pregnant leach solution and extraction fluids.Several specific field applications are discussed, including process installation details, hardware and operation.CITATION:Powalisz, J E, 2014. The application of automated samplers in copper/nickel processing, in Proceedings Sampling 2014, pp 35–42 (The Australasian Institute of Mining and Metallurgy: Melbourne)."

Jul 29, 2014

By S Steffen, S Talu, J Poulsen, G Watt, A van As, J S. Ooi

The economic success of cave mining projects is significantly influenced by the secondary fragmentation size distribution of the caved orebody and making the fragmented ore available for extraction. If the cave does not propagate as predicted, it may lead to stalled cave growth and/or localised preferential caving. This can cause significant ore loss and the inclusion of excessive waste in draw columns, both of which damage the economic value of the project. Uncontrolled caving can have severe consequences for the safety and economics of mines. Such safety risks include air blasts due to the formation of excessive air gaps and damage to infrastructure due to surface subsidence. Monitoring the cave-back delivers critical feedback that is required to exert control over its propagation and reduce the likelihood of adverse consequences. Current methods for monitoring cave propagation include access through open holes, microseismic monitoring systems, time domain reflectometers and extensometers. All of these monitoring systems rely on stable holes for installation and ongoing data collection. However, cables in holes often get sheared due to ground movement in the seismogenic zone well ahead of the cave front, rendering the systems useless. To resolve this issue, Elexon Mining, with the support of Rio Tinto, developed the Networked Smart Marker system, which is based on Elexon’s Smart Marker technology. This system provides a more robust and versatile alternative to other cave monitoring systems as the data is transmitted wirelessly through rock, and thus is not vulnerable to hole shearing/dislocation experienced with current cave monitoring systems. Installations at the Argyle block cave have proven that the Networked Smart Maker system can continue to provide information on the cave-back’s location long after all conventional monitoring systems have failed. This paper summarises the findings from these installations and highlights the benefits for all geotechnical monitoring systems reliant on the stability of drill holes to remain functional.CITATION:Steffen, S, Poulsen, J, Van As, A, Talu, S, Watt, G and Ooi, J S, 2016. Wireless system for monitoring cave-back propagation, in Proceedings Seventh International Conference and Exhibition on Mass Mining (MassMin 2016), pp 251–256 (The Australasian Institute of Mining and Metallurgy: Melbourne).

May 9, 2016

By S Cyphers, J Missen, B Jansen

The AGL Loy Yang Mine is one of the largest and most significant coalmines in Australia. Commencing in 1982, this mine produces 30–35 Mt/a to supply more than 50 per cent of Victoria’s electrical power requirements. At this mine there are unique geotechnical challenges to overcome to ensure its safe operation including: significant mine depth, low density of coal in the operating and permanent mine batters, the influence of groundwater and deep sediment aquifer pressures. One of the challenges is the behaviour of brown coal, which is neither a soil nor a rock and displays long-term creep stress relief. Other geotechnical challenges include ensuring stability in high unconsolidated dumps, potential large-scale block movement in mine batters driven by crack water pressure and heave from high-pressure aquifers.The paper will outline the geological and hydrogeological setting and potential failure mechanisms, and detail an integrated geographic information system and reporting regime that in part addresses ground control management at the mine. The paper will also outline the management processes for a dynamic geotechnical environment and the benefits of the alliance arrangements to meet the geotechnical requirements at the mine and the effective personnel integration in the mine technical services team.CITATION:Jansen, B, Missen, J and Cyphers, S, 2014. Geotechnical management at the AGL Loy Yang Mine, in Proceedings AusRock 2014: Third Australasian Ground Control in Mining Conference , pp 239–246 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Nov 5, 2014

By M Dunglison, P M. Cameron

Simultaneous mass-balancing of a mineral processing flow sheet results in adjustments to each data point that reflects the accuracy and precision across the full set of data. In this way, all the good work that goes into designing the sampling and analysis protocol for each sample point is leveraged in order to produce a æbetterÆ set of balanced numbers for every sample point in the circuit. Few operating plants employ whole of circuit balancing techniques to produce reported operating results. This situation is changing with the application of mass balancing technology which utilises redundant data for production accounting and metal reconciliation from product to ore source across multiple phases and multiple time periods. Mine and plant data can now generate credible information to improve productivity. Mine and plant personnel can now use consistent data sets for review and planning. Decisions based on balanced data can be made quicker and with increased confidence.

Jan 1, 2005

By A Penney, M J. Pascoe, R M. Stephenson

The empirical McCracken and Stacey stability and risk assessment method has been in use for more than 20 years to assess geotechnical stability issues for raise bored shafts. The methodology has been applied with various levels of success. Increasingly, trends in mining and civil tunnelling have been towards larger diameter, single pass, raise bored shafts to rapidly provide means of ventilation, material movement (ore passes), or emergency egress. Identifying and assessing potentially problematic zones before raise boring commences can allow for appropriate risk-based decisions on construction, or to investigate alternative solutions. The implementation of a proactive solution to raising through an identified weak zone is preferred to the application of an engineered solution to an area subjected to substantial instability or failure. Methods for investigating potentially problematic areas are discussed in this paper based on AMC’s benchmarking data. Proactive investigation programmes resulting from these investigations are also discussed. Previous publications discussing the benchmarking data have concentrated on Australian case studies. Increased efforts and recent updates have been made to expand the database to include international case studies. This has provided further refinement of lower bound ‘raise bore rock quality index’ (QR) values, and various rock mass parameters for stability assessments. CITATION:Penney, A, Stephenson, R M and Pascoe, M J, 2018. Raise bore stability and risk assessment empirical database update, in Proceedings The Fourth Australasian Ground Control in Mining Conference (AusRock), pp 434–445 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Nov 30, 2018

By P Minkkinen, J Lohilahti, T Korpela, B McPherson

Concentrator plants intake the ore from the mine and produce concentrates by extracting valuable minerals in a succession of process steps. Controlling the extraction process and detecting changes in the process requires updated information on a minute basis. Moreover, due to economical reasons, one must also collect metallurgical samples on a daily basis for monthly reporting.In this paper, we present how slurry samplers were installed in a Cu-Ni flotation plant to accomplish the aforementioned tasks. An on-stream elemental analyser at the plant is used for flotation process control by taking samples from selected process streams. Two process streams, the flotation feed and tail, are also equipped with metallurgical samplers. The metallurgical samplers were designed to have low head loss, be robust and easy to maintain and to collect slurry samples in a reliable way for the metallurgical accounting.Samples were collected by different sampler types and we discuss the uncertainty arising from sampling in the assays. Variographic analysis was carried out on the process data in order to find periodic components in the process, and estimate the correct number of shift sample increments and measurement error components. The metallurgical samplers were proven to be reliable devices with zero downtime and no sanding issues in the main process flows. In addition, we show that the tail measurement is the most important one for the plant recovery calculation, which emphasises the importance of the sampling accuracy in the tail stream.CITATION:Lohilahti, J, Korpela, T, Minkkinen, P and McPherson, B, 2014. Analysis of slurry sampling arrangements at a froth flotation plant, in Proceedings Sampling 2014 , pp 91–98 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Jul 29, 2014

By S Brown

With oxygen conditioning routinely used in both the lead and zinc circuits at Pasminco Elura Mine a more sophisticated method of determining oxygen demand was required. It is known that different ore types have different oxygen consumption rates, however oxygen is added at a fixed rate regardless of ore type in the plant. Therefore, a simple laboratory test was devised to measure the oxygen demand of ores. The paper describes the technique employed, and provides an interpretation of the results. These data, together with pulp chemical measurements (Eh, pH and EDTA extraction data) were correlated against laboratory flotation performance to establish the relationship between oxygen demand and the position of the grade/recovery curve.

Jan 1, 2000

By C MacRae, N Wilson

CSIRO Minerals has recently developed an electron microprobe (EMP) based imaging (or mapping) method for characterising ilmenite concentrates. The method requires an electron microprobe analyser to collect elemental X-ray maps which are then processed via an in-house developed software module (CHIMAGE). The type of information readily available from EMP mapping includes; primary phase identification, modal analysis of phases, chemical analysis of individual phases, textural information (eg the alteration stages in the formation of leucoxene or pseudorutile from primary ilmenite and the development of macro-porosity), and the identification of coatings or pore-fill material. All of these parameters will impact on the choice of future downstream processing options considered for any particular ilmenite concentrate. The method has been demonstrated to be a sensitive analytical tool for assessing the distribution of aluminosilicate minor impurities in ilmenite feedstocks from the West Coast of Australia and also for characterising the complex chrome-spinel gangue phases common in East Coast ilmenite concentrates from the Murray Basin.

Jan 1, 2001

By T Barto, D Thomson, T Norgate, C Doblin

Collaboration between CSIRO Minerals and SunSalt Pty Ltd, a salt producing company located in rural Victoria, has resulted in a commercial process to recover magnesium sulfate (commonly called Epsom salt) from the saline waters of the Murray Basin. The feed for this process is bittern; the liquor remaining after halite (common salt) has been harvested from the saline water by evaporation.SunSalt produces salt and bitterns from three locations, namely Hattah (Victoria), Mourquong (NSW) and Wakool (NSW). The small size and considerable distances between these operations makes it uneconomic to build a stationary processing plant to extract value-added products, in particular Epsom salt, from the bitterns of the three operations. This fact led SunSalt to build a containerised mobile plant that could be moved to each site to process the bitterns at the end of the salt harvesting period.Epsom salt is extracted from the bittern by further evaporation, refrigeration and recrystallisation. In this process the bittern is diluted with five per cent volume of fresh water to minimise precipitation of residual halite in the bittern. Cooling the diluted bittern to between -5 and -10¦C precipitates up to 70 per cent of the magnesium sulfate, which is recovered as 85 to 96 per cent purity Epsom salt by filtration. This product is marketed as an industrial grade Epsom salt. Higher purity (up to 99.9 per cent) Epsom salt (USP or BP grade refined product) is made from the industrial grade product (raw Epsom salt) by recrystallisation.The containerised mobile plant was commissioned in December 2002. The raw Epsom salt generated in the mobile plant is refined to a higher purity Epsom salt in a separate plant located in Mildura. The Mildura plant was commissioned in December 2003.The CSIRO-SunSalt collaboration has demonstrated that the saline waters can be processed into a useful resource, and in addition could create jobs and a new skill base in regional Australia. The production of Epsom salt locally in Australia, which is worth currently about $A600 per tonne, removes the need to import over 3000 tpa from overseas with a net positive impact of $A2 million on the balance of trade.

Jan 1, 2004

This paper examines some of the important aspects of mineral taxation policies and practices, with reference to the mining tax regimes of selected Pacific Rim countries (see Tables 1 and 2). The following subjects are addressed:what is æmineral taxationÆ?, basis for mineral taxation, types of mineral taxes, objectives of the mineral taxation regime, best practices, and mineral royalties. Many countries, in some cases with the encouragement and assistance of international funding agencies, are actively assessing the international competitiveness of their mining tax regimes with a view to attracting investment. However, these countries recognise that the mining tax regime is not the only consideration that is taken into account by prospective investors. The countryÆs geological prospectivity, physical infrastructure, labour force, political risk, and regulatory system are also important factors in the investment decision making process. Although it is probably true that an attractive mining tax regime will not necessarily attract mineral investment, there is a real possibility that an unattractive regime can drive away investment. For example, Hugo Dummett, general manager for discovery at BHP, hinted recently that BHP could cease exploration in Russia in the absence of positive tax changes. Dummett is reported as saying that if taxes æend up being as onerous as they are now, we really have to rethink why we are hereÆ (Mining Journal, London, November 27, 1998).

Jan 1, 1999

By A Hacket, M Haest, I Vitins

Infrared spectroscopy has the ability to accurately measure mineralogy of drill cores, allowing for better spatial characterisation of iron ore deposits and potentially improving the prediction of key mining and processing parameters at the deposit scale. BHP Billiton Iron Ore is using infrared spectroscopic drill core logging to provide fast and accurate mineralogy for diamond cores and reverse circulation (RC) samples.Mineralogy can be predicted from infrared spectroscopic drill core data with errors on estimates ranging from six to 12 weight per cent. The error on the clay estimates is significantly lower than for hematite and goethite content estimates. This manuscript presents the results from a study on a bedded iron ore deposit, hosted in the Brockman iron formation, for which infrared spectroscopic data were collected on all of the diamond and RC drilling. Results show that these mineralogy estimates improve drill core logs, the geology model and the metallurgical block model.CITATION:Haest, M, Vitins, I and Hacket, A, 2013. Infrared spectroscopic drill core logging - making inroads to deposit scale 3D mineralogy, in Proceedings Iron Ore 2013 , pp 251-258 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Aug 12, 2013

By J Harris, P Kirsch, D Cliff, M Spinks, S Goater, D Sprott

Fires are a common and recurrent unwanted event in the operation of open pit mines. In most cases, the causes of events such as fires are already æknownÆ but are either overlooked or not fully addressed in planning. Ongoing rapid growth of the global mining industry is creating a scarcity of skilled personnel, and high turnover within operations. This contributes to loss of corporate memory in risk management activities. RISKGATE« is an online risk management system designed to support and assist in the analysis of priority unwanted events in Australian coal mining operations. Funded by the Australian Coal Association Research Program (ACARP), RISKGATE« is a knowledge management program that delivers best-practice controls for unwanted events and assists operations in staying abreast of emergent risks and threats. RISKGATE« content has been primarily developed from an association of industry experts, and enriched with input from additional academic and technological resources. In mining operations, RISKGATE« provides a continuum of knowledge and best practice for risk identification, assessment and management. RISKGATE« will assist companies in improving safety performance, operational efficiency, operating practice and training. Here we present the RISKGATE« prototype as developed in 2011 for Fires, with a case study presented for the initiating event Fires on Mobile Plant.CITATION:Harris, J, Sprott, D, Spinks, M, Cliff, D, Goater, S and Kirsch, P, 2012. RISKGATE« - A case study in application to fires on mobile plant, in Proceedings Eighth Open Pit OperatorsÆ Conference , pp 49-54 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Sep 18, 2012

By P B. Card

"The website www.economicevaluation.com.au, which had its origins at the Project Evaluation Conference 2009, provides a free way for industry professionals to teach themselves economic evaluation. At its core is a set of fast-moving modules and three worked examples.The website recognises that economic evaluation is a discipline with a hierarchy of three levels:decision-makingevaluating the project/businesshands-on modelling.There are a set of modules for each level that describe the concepts and activities in detail. These emphasise that the most important and rewarding work is the evaluation of Level 2. The economic model created in Level 3 is merely a working tool and should not become a sophisticated ‘trophy’ in Excel that only one or two people can comfortably use.Hands-on modelling contains three sets of practices designed to make any model rigorous and intuitive so that it can be easily understood and used by others in the project team. Even if the model develops into a long, detailed and complex workbook, it should remain easy to follow and be intuitive. The website advocates freedom to devise any architecture that best suits the project under study, but promotes rigour through the following practices:four cash streams and graphsthree architectures – concept, prefeasibility and feasibilitysix principles.The modules in the Level 2 evaluation use conversational language to describe in detail the broad range of activities needed to properly understand and characterise a project/business. It stresses that net present value is nothing more than the mathematical treatment of a whole set of opinions, is not an absolute truth and is only a fraction of the evaluation process. The modules describe in detail the range of economic metrics that should be computed and the full spectrum of equally important characterisations required to make the decision in Level 3.CITATION:Card, P B, 2016. Teach yourself economic evaluation, in Proceedings Project Evaluation 2016, pp 160–171 (The Australasian Institute of Mining and Metallurgy: Melbourne)."

Mar 8, 2016