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By R A. Lynch

The state-of-the-art in cave seismic monitoring is reviewed, with the latest developments in active seismic monitoring included. Seismic monitoring systems are routinely used by most of the world’s block and panel caving mines to track the cave initiation and progression. The current best practice is to use the cloud of seismic event locations as a proxy for cave growth somewhere below. Problems with event location reliability due to seismic ray bending around the (unknown) cave are side-stepped by using sensors installed above the cave. However, the aseismic gap – the (unknown) distance between actual cave back and seismic event cloud – currently hinders reliable estimation of cave geometry.Velocity inversions using the passive seismic data are inexpensive and should be undertaken more routinely. The straight-ray methods should be used with caution, as the underlying assumptions are invalid in caving environments. The double-difference method is more correct for the caving situation, and there have been some promising results published. Constrained geometric inversions make a lot of sense, but have yet to be demonstrated successfully.Two active seismic source have recently been developed for use in the caving environment: a piezoelectric source for ranges up to a few hundred metres and a pneumatically-powered source for ranges up to a kilometre. These sources produce signals on standard mine seismic sensors that can be used to measure seismic velocity variations down to 0.01 per cent resolution. This allows the cave progression to be monitored by measuring tiny changes to seismic velocities as the rock above the cave is fractured and destressed.CITATION:Lynch, R A, 2016. Active and passive seismic monitoring of cave front evolution, in Proceedings Seventh International Conference and Exhibition on Mass Mining (MassMin 2016), pp 217–224 (The Australasian Institute of Mining and Metallurgy: Melbourne).

May 9, 2016

By Y Bissiri

The ever increasing demand for metals and minerals is putting significant pressure on current mining companies to find more ore. As these companies explore and mine, the future appears to be to go deeper and deeper underground. With depth, however, comes ever increasing costs as infrastructure such as hoisting, ventilation, the movement of workers and materials increase in size and scope. Further, the actual rock mass becomes prone to destruction through rock bursts and the heat generated becomes a major issue resulting in extreme expenditures in cooling plants and some of the biggest air movers in the world. All these issues result in dramatic changes in both capital and operating costs, subsequently making cut-off grades rise. As this trend continues there is an economic limit to how deep one can go, resulting therefore in a severe shortage of accessible ore deposits to mine. This paper discusses the need for larger marine robotics technology and presents the state-of-the-art in current research in underwater tele-autonomy, specifically the development of high bandwidth optical communication networks critical to any future activities (mining, construction, etc) underwater. An EXTENDED ABSTRACT is available for download. A full-length paper was not prepared for this presentation.

Jan 1, 2008

By R MacGillivray

The Golden Cross mine was an open-pit and underground gold and silver operation from December 1991 to April 1998. Closure of the mine has been based on an approach agreed among stakeholders. The initial phase was the release of a closure plan which was regarded as the blueprint for the following phases and the closure works required to implement the plan. The second phase involved lodgment of consent applications and their granting for the final water management configuration. The final phase is monitoring, confirmation that the site is performing as required by the closure plan and consents and settlement of final ownership, management and surety arrangements. Industry best practice modelling techniques have been used to finalise closure design and have been shown to be good predictors of site water management and discharge performance. Site discharges are in compliance with toxicology based water quality criteria for the protection of aquatic life and most discharges from the site, including those from the closed cyanide-tailings facility, can now be discharged without further active intervention or treatment.

Jan 1, 2002

By M Delaney

Alliancing is a contractual relationship in which organisations with an interest in a project are brought together in an atmosphere of co-operation to produce superior results to benefit all of the participants. Fundamental to the concept is the management of the risks associated with the project. The traditional risk management strategy adopted by clients has been to transfer this risk to others in the belief that this will result in the lowest overall project cost. It is assumed that competition in the market place will allow these risks to be transferred without paying a premium. However, this approach often results in the development of an adversarial climate, a high level of litigation, time and cost overruns and an overall poor project outcome. Under an alliancing arrangement the parties (client, designer and contractor) are aligned through shared interests in the projectÆs success by linking profitability to performance. Under such an arrangement, an atmosphere is created whereby the participants are motivated to focus on cost-savings, pursue best value and to innovate. Successful alliancing can result in highly motivated project teams and realisation of extraordinary productivity and cost-savings flowing from increased efficiencies. The situations in which alliancing can be successful are discussed with particular reference to the Wandoo Alliance which successfully completed the $375 million Wandoo B offshore oil platform in record time and with considerable savings to the project budget.

Jan 1, 2000

By B S. Utting, W J. Cowie

The alluvial gold industry of New Zealand is based on the placer deposits in Otago and on the West Coast. Production from these since discovery in the 1850s has been an estimated 480 t (15 Moz) of gold. Annual output has expanded continuously since 1980 and is expected to be over 2 t of gold for 1989. Following a historical review, the characteristics of typical operations, which use hydraulic excavators and mobile trommel units are discussed. Descriptions are then given of alluvial activities in Otago and on the West Coast.

Jan 1, 1990

By R O’Sullivan, D Taylor, J G. McLellan, B Miller

The Mount Isa copper deposit is located adjacent to the city of Mount Isa, Queensland, and lies within a series of Palaeoproterozoic to Mesoproterozoic Superbasins. The deposit is hosted almost entirely within the Urquhart Shale (US), a unit of the Mount Isa Group sediments and part of the Isa Superbasin. The copper mineralisation is separated into two distinct orebodies: the X41 mine (1100 and 1900 orebodies) and the Enterprise mine (3000 and 3500 orebodies). The orebodies are situated in the hanging wall of the major controlling structures, the Paroo Fault, which has juxtaposed older basement Eastern Creek Volcanics against the younger Mount Isa Group sediments cf 1655 ± 4 Ma. Conjecture remains over the exact timing of this thrust event. However, it is clear that inflections on the Paroo Fault have a close association with the orebodies and are an important structural feature in the mineralisation of the Mount Isa copper deposit.The life-of-mine is reducing steadily and new geomechanical modelling techniques were employed to target structurally controlled mineralised zones in three dimensions. Following a structural review of the mine using underground mapping, structural data and core shed observations, a conceptual 3D mine model was constructed utilising existing data modelled in MineSight®. This conceptual model included all the main lithological units and structures. The conceptual model aimed to test the effects of deformation on the main lithological and structural components of the system and attempted to highlight areas of anomalous stress and strain that may indicate a higher likelihood of fluid focusing and mineralisation potential. This project was focused on testing the latter stages of a D3 event (NE–SW compression) and D4 event (SE–NW compression), which are considered to be responsible for the current location of the mineralisation.The fully coupled 3D finite element analysis models resulted in highlighting anomalous patterns of stress and strain and subsequent fluid flow as a result of the two deformation events. The NE–SW D3 simulation provided the best correlation with the known distribution of mineralisation. This event also indicated several areas on the Paroo Fault and within the US that have potential to host further areas of mineralisation. The SE–NW D4 simulation provided less of a correlation with known mineralised zones. However, this event may have been responsible for post mineralisation re-mobilisation of copper on a relatively small scale. Areas of maximum shear strain, shear stress, volumetric strain and fluid flow correlated well with areas of minimum principal stress and provided the best overall match with known mineralised zones. Furthermore, several additional highlighted areas provide a high potential for further discovery of copper mineralisation. Recent exploration drilling north of the Enterprise mine 3000 orebody, utilising geomechanical modelling as part of the targeting criteria, intersected copper mineralisation, providing further validation of the modelling results.CITATION:McLellan, J G, O’Sullivan, R, Miller, B and Taylor, D, 2014. Geomechanical modelling of the Mount Isa copper deposit – predicting mineralisation, in Proceedings Ninth International Mining Geology Conference 2014 , pp 197–206 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Aug 18, 2014

Operation of the tankhouse at the Electro lytic Refining and Smelting Company's works has been improved, but further automation is re- quired to cut the labour intensive nature of the routine tasks. Anode quality, both chemical and physical, plays an important role in efficient refinery practice, and impurities such as lead, antimony and nickel have required careful monitoring for smooth operation. The gradual replacement of copper blanks by titanium has markedly improved the quality of starting sheets, but problems have been ex- perienced with surface preconditioning of the titanium blanks. Polishing with emery paper proved to be a successful technique.

Jan 1, 1976

By M P. Sandy

Some Western Australian underground mines are challenged by very high stress gradients. This environment frequently results in poor induced ground conditions and damaging seismic activity. In some cases, rockbursting or squeezing ground has been observed as shallow as 250 m below surface. Very few mines operating at depths greater than 500 m experience no stress-related issues. As a general result of this difficult environment, there are a growing number of mines that are now challenged or have been closed by induced geotechnical problems. Often, the up-front savings or perceived advantage of an inappropriate mine plan may be entirely lost to the real cost of managing the hazards, or a write-down of reserves resulting from access difficulties will diminish the economic position of the mine. From an engineering perspective, it is best if stress-related hazards can be proactively minimised, because reactive measures offer less improvement in risk exposure. In this paper, some examples of sequencing techniques for managing difficult environments are contrasted with examples from mines where developing hazards have adversely affected production or the economic viability of the project.

Jan 1, 2003

By G J JAMESON

The flotation cell has undergone a number of changes since the process was first introduced in Broken Hill in the early years of this century. The development of the mechanical flotation cell is reviewed, followed by a discussion of more recent developments such as the flotation column, the air-sparged hydrocyclone, the Wemco-Leeds cell, the Bahr and Deister columns and the Jameson cell.

Jan 1, 1992

THE treatment by chlorination of the Mount Morgan Gold Mining Company's ores was first accomplished, early in 1886, by a works having a capacity of 25,000 tons per annum. Shortly afterwards another works was established, capable of dealing with 50,000 tons per annum. The extraction of gold was originally successful and satisfactory, but running expenses were high, averaging £2 19s. 6d. per ton of ore treated. These works were believed to be the largest chlorination plants in the world at that time. As might have been expected, the mechanical details and chemical process had not been perfected, and, moreover, both works were hurriedly built, and operating expenses were not then considered of such prime importance, as the ore at that time was of very high grade; the large quantities of low grade ore since dealt with not being then considered, since the bulk of it was not even known to be in existence. These two works consisted of rock-breakers, high speed rolls, screens, elevators, &c., for crushing; a large number of small handrabbled reverberatory furnaces for roasting; one-ton chlorination barrels and three-ton leaching vats for chlorination. The transport of ore from crusher to furnaces, from furnaces to chlorination barrels, and the emptying of leaching vats was effected entirely by hand labour. The system of chlorination was what was, known as Mears process, chloride of lime and sulphuric acid being used in the chlorination barrels, and as the time allowed...

Jan 1, 1911

By M I. Pownceby, S Hapugoda, H Han, V Nunna, L Lu

Charcoal produced from Syzygium Zeylanicum (local name: Yakada Maran = iron killer) trees were widely used in ancient Sri Lankan iron smelting practices. In this study, relict charcoal from Syzygium Zeylanicum tree trunks, branches and leaves were analysed for the first time. Unusually high concentrations of calcium oxalate (CaC2O4.H2O – CaOX) crystals were identified preserved in plant cell structures by optical mineralogy and SEM analysis. Thermogravimetric Analysis (TGA) of CaOX showed that it displayed three decomposition stages, releasing H2O at 177°C, CO at 493°C and CO2 at 750°C. Following the identification of CaOX in Sri Lankan charcoal, a series of reduction tests on a low-grade, high-P iron ore fine sample (high SiO2: 5 wt. per cent; Al2O3 4 wt. per cent; P: 0.135 wt. per cent) doped with CaOX were carried out at various temperatures. Samples were analysed by XRF, SEM and EPMA to determine the degree of reduction and the effect of reduction on the deportment of impurities, in particular P. Reduction tests at 800°C and 900°C with 5 wt. per cent CaOX showed that the reducibility increased to over 65 per cent. At temperatures above 900°C, P was located mainly within a fine, interstitial glass matrix suggesting that the CaOX flux enhanced removal of P from iron-rich pre-cursor phases to form glass. Preliminary magnetic separation tests to remove the P-rich interstitial glass were unsuccessful due to the fine grain size. Further complete reduction tests at temperatures above 1200°C with addition of coke to convert the iron oxides into Fem were conducted with samples doped with 10 wt. per cent CaOX, 10 wt. per cent CaCO3 and equivalent undoped samples. Results confirmed the preferential P-incorporation into a glassy matrix in the CaOX samples although some rare P incorporation into the metallic phase was noted. Experimental results, including comparisons with the CaCO3 fluxed and undoped samples, are discussed in view of the potential for CaOX flux for removing P (and potentially other impurities) from P-rich iron ores.

Nov 8, 2021

By M van Kampen

The Resource Management Act 1991 has been amended on a number of separate occasions since its enactment in 1991, and has recently be subject to further amendment by way of the Resource Management Amendment Act 2005. The amendments as proposed in the Resource Management and Electricity Legislation Bill would have had revolutionary and far-reaching consequences. However, as finally enacted, the amendments are a greatly watered down version of what was initially proposed.   Nonetheless, the Resource Management Amendment Act 2005 has provided for a number of amendments that will impact on the minerals industry to varying degrees. This paper discusses in particular the changes and impact of the changes to the definition of æcontaminated landÆ, clarification with respect to the duty to consult, amendments to the provisions relating to National Environmental Standards, and to the council and Environment Court hearing process.

Jan 1, 2005

By O Rojas

The Telégrafo copper – gold deposit is located in the Centinela district of the Antofagasta region in northern Chile. Telégrafo is a porphyry copper deposit of Eocene – Oligocene age which has a total mineral resource in measured, indicated and inferred categories equal to 2.6 billion tonnes with an average grade of 0.38 per cent copper.Currently the project is in the prefeasibility study phase, including an infill drilling campaign to improve the knowledge of the deposit that should result in an improvement of the mineral resource classification. In this context was decided to review the classification criteria in order to optimise the drill hole density necessary to support the project.This paper presents an application of conditional simulation to evaluate the risk related to drill hole spacing, using a geostatistical approach that mimics the process of evaluation of resources from the perspective of geological modelling and grade estimation. The first step of the approach is the generation of conditional simulations using the available samples to generate several plausible scenarios of the deposit in terms of copper grades and geological units. These scenarios are considered as the unknown reality of the deposit and sampled by synthetic drill holes in order to replicate the geological model process and copper resource estimation. In this way it is possible to establish differences between the possible scenarios and the generated resource estimation models for several simulated drill hole spacing alternatives. These differences or errors can then be quantified in terms of estimated mean, metal content and tonnage over different production volumes.The resulting errors were useful in assisting the decision making process related to the design of drill hole spacing for each category of mineral resource in the Telégrafo project, and to redistribute the budget associated to the drill campaigns for the next stage of the project.

Aug 22, 2011

By D Martin

The Rio Tinto (Mount Bruce Mining Pty Ltd) Koodaideri Iron Ore Project is located approximately 110 km north-west of Newman in the Pilbara region of Western Australia. During detailed ecological studies of the project area, a significant maternity roost (containing around 430 individuals) of the Orange Leaf-nosed Bat (OLNB) (Rhinonicteris aurantius) was discovered within the boundaries of the proposed mining area. The OLNB is listed as Vulnerable under the Commonwealth Environment Protection and Biodiversity Conservation Act 1999 and is listed as a Schedule 1 species under the Western Australian Wildlife Conservation Act 1950.With a good understanding of blast vibration attenuation in the Pilbara’s different geologies and in the absence of other known studies, it was considered that appropriate buffer distances between mining and bat colonies were not scientifically determined. Therefore, to inform the environmental approvals process that was underway, a series of seismic blasts was planned to assess and measure the sensitivity of the OLNB to trial-sized seismic blasting activities to develop a more scientifically based buffer zone for the protection of the OLNB. This was to be achieved by testing ground attenuation of the site and measuring any response from the OLNB to the firing of seismic charges. Rio Tinto sought the independent expertise of ecological consultants to evaluate and participate in the work to quantify the level of sensitivity of the bat colony and to outline the proposal to government authorities.After detailed risk assessment and project mapping, the seismic blasts were implemented, with the aim of firing individual charged and measured vector peak particle velocity (VPPV) at the OLNB roost cave, combined with monitoring OLNB disturbance activity within the roost that was invoked by the blasts. A series of six charges were fired with the VPPV ranging from 0.66 mms-1 to 18.70 mms-1. The OLNB activity was monitored using high frequency microphones, which detect bat calls emitted during flight. Under daytime conditions, the bats would normally be dormant, so the null hypothesis was for no calls to be detected if the bats displayed no disturbance behaviour. This work has improved understanding of mining activities (blasting) on the OLNB species, assisting in establishing mining exclusion zones that are based on scientific data, contributing to a sustainable future for both the environment and the mining industry.CITATION:Martin, D, 2015. Scientific evaluation of fauna sensitivity to blasting, in Proceedings 11th International Symposium on Rock Fragmentation by Blasting, pp 519–526 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Aug 24, 2015

By D J. Williams, E M. Rykaart

Soil cover systems are routinely used to reduce acid rock drainage (ARD) from mine waste rock dumps and tailings impoundments. A technology for the analysis, design, instrumentation and monitoring of barrier-type (oxygen limiting) and store/release-type covers has rapidly developed and the number of covers under construction has grown extensively during the past ten years. Mine operators are currently investing in this relatively new technology with the expectation that these covers will reduce long-term liability with respect to acid generation, drainage and treatment costs. While the design life for cover systems may extend into hundreds of years, we have less than ten years of construction experience and proven performance. Some cover designs appear to be functioning well; however, the performance of many more is now being called into question. The paper presented herein evaluates the integrity of cover systems from a global perspective. Soil cover systems for the control of ARD are being constructed at mine sites located within high rainfall equatorial regions, deserts ranging from low to high latitude, humid temperate regions, and cold-continental climates. While the technology for analysis and design of soil cover systems is well developed, factors that compromise the performance of cover systems (in addition to the paramount issue of climate) relate to material selection and availability, cost and construction practices. Long-term performance is also strongly affected by physical stability (ie erosion), volume change (ie cracking, desiccation, settlement and freeze/thaw cycling), vegetation, soil evolution and ecological stability. This paper provides a review of the application of soil cover systems for the control of ARD. Cases where cover systems have been constructed with both success and failure are illustrated. General criteria and recommendations for cover selection, design, construction, and maintenance are provided.

Jan 1, 2003

By Hutchinson H

Froth flotation is applied to mineral sand concentrates in order to produce commercially viable xenotime concentrates. Experiments indicate that a xenotime product containing 38% Y203 at 47% recovery or 34% Y203 at 83% recovery can be obtained from a 27% Y203 feed. The process involves a primary stage of reverse flotation at which oxide and silicate gangue is floated, and secondary stage of direct flotation at which xenotime is floated. Of the various collectors screened an amphoteric compound was found to be effective at both stages. This was made possible by the addition of sodium silicate at the second stage, which acted as depressant for the remainder of the gangue. Similar studies on a low grade feed material were somewhat unsatisfactory as the grade achieved fell short of what was targeted.

Jan 1, 1990

Stripping of Fe (III) from D2EHPA Using Different Reagents The common way to extract Fe(III) from an organic solvent is by using concentrated acidic solutions. The stripping of Fe(III) from organic solvent Di-2-ethylhexyl phosphoric acid (D2EHPA) by hydrochloric acid (HCl) solutions has been found to increase with increasing the acid concentration. However, the use of a concentrated acidic solution such as 6 M HCl can degrade the organic molecules. In this research, to increase the efficiency of Fe(III) stripping from D2EHPA, effect of some acids, salts and buffer solutions was studied. Influence of Tri-butyl phosphate (TBP) as modifier on the Fe(III) stripping operation was also investigated. According to the results, the best Fe stripping recovery was achieved in the presence of low acid concentration and the salts which was 72.4 per cent oxalic acid, 70 per cent ammonium oxalate and 75 per cent buffer of oxalic acid and ammonium oxalate. The results also showed a better recovery in the presence of the buffer rather than the salt. Finally, increasing the concentration of TBP, HCl and H2SO4 resulted in a higher stripping efficiency of Fe(III). However, in the presence of oxalic acid and its salts increasing the reagent concentration did not increase the stripping efficiency and at this condition, the recovery of iron remained constant.

Sep 13, 2010

By C B. Valentin

It is acknowledged that the analysis of iron ores using X-ray fluorescence (XRF) for major and minor elements is best carried out on fusion discs. This method of sample preparation eliminates mineral and particle size effects which can lead to biased results when using pressed powder pellets. However, the fusion disc method is costly as it requires a high capital investment in platinumware, requires experienced operators and uses expensive fluxes. Also, the dilution effect complicates the analysis of trace elements. For many applications, such as exploration and mining control, the method of XRF analysis of iron ores by pressed powder pellet probably provides data of adequate quality. Kumba Iron Ore, an iron ore producer in South Africa, recognises this and carries out most analyses of iron ore by pressed powder pellet and uses the automated fusion method mainly for certification of in-house calibration standards and quality control (QC) samples that are used for validation of pressed powder pellet method purposes. Automated fusion is also used for analysing the composite export shipping samples. All the other exploration, production, despatching and plant operation samples are done by the pressed powder pellet method. Automation of sample preparation procedures should improve the quality of data for pressed powder pellets. To compare the precision of the three methods of sample preparation and XRF analysis, 20 aliquots of a QC standard were prepared and analysed by each procedure/preparation method. The results and statistical data on the most important elements, Fe, K2O and P, are as shown later in Table 2.Clearly the precision is best for the auto prepared fusion discs, as expected, and worst for the manually prepared pressed powder pellets. However, the data generated from the auto prepared pressed powder pellets compare remarkably well against those from the auto prepared fusion discs.

Jan 1, 2007

By T Huynh, V Matanitobua, J Zheng, B N. Noller, J C. Ng, H H. Harris

A risk assessment was undertaken of the aquatic ecosystem and bioaccumulation of metals and metalloids in fish at the Leichhardt River, Mount Isa, Queensland. Residual contamination of metals and metalloids in Leichhardt River sediment was assessed and arose from mine practices using river discharge in the 1940s. The ecological risk assessment of sediments involved comparison of the concentrations of heavy metals and arsenic with those of the ANZECC/ARMCANZ (2000) Interim Sediment Quality Guidelines (ISQG). Results indicated that all sites including the background site exceeded one or both the ISQG-high and ISQG-low trigger values based on total concentrations. A lesser number of sites exceeded the ISQG-low trigger values following the 1 M hydrochloric acid extract step, which was used as an indication of bioavailability. An additional risk from particulate matter in river sediment is that acute human toxicity from the consumption of fish contaminated with metals and metalloids is unlikely. The potential risk was assessed by comparing with the maximum levels set by FSANZ (2010) for fish consumption by children and adults. In general, the liver of the fish have higher heavy metal and metalloid concentrations compared to the muscle. Frequent or regular consumption of fish from the Leichhardt River that exceed maximum levels (ML) of heavy metals and metalloids is not recommended. Risk analysis showed that an adult can consume up to 5 kg of fish fillets every day from fish caught at the man-made Lake Moondarra downstream on Leichhardt River and still be within safe consumption levels whilst a child can eat up to 1 kg daily.CITATION:Noller, B N, Ng, J C, Matanitobua, V, Harris, H H, Zheng, J and Huynh, T, ?2014. Assessment of ecotoxicology and health risk from bioaccumulation in fish of heavy metals and metalloids from historical mine practices in the Leichhardt River, Queensland, Australia, in Proceedings Life-of-Mine 2014 , pp 337–348 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Jul 16, 2014

The Youga gold mine in Burkina Faso, West Africa, is scheduled to produce first gold in the third quarter of calendar 2007. The project is expected to produce 540 000 oz of gold over 6.5 years, from a conventional open pit carbon in leach mine. The direct capital cost of the project is US$47 M. Etruscan Resources Inc, a Canadian based gold exploration and development company, holds 90 per cent of the project company Burkina Mining Company SA (BMC). The state of Burkina Faso is free-carried for the remaining ten per cent of BMC. RMB Resources Limited, of Melbourne Australia, has arranged a US$35 M project finance facility for BMC (the Borrower) as the majority of funding for the Youga project development. The loan facility was provided by RMB Australia Holdings and Macquarie Bank Ltd (the Lenders) each as to 50 per cent in the lending syndicate. The Lenders also provided a gold hedging facility to guarantee a minimum price for the projectÆs gold production. Burkina Faso is a francophone country, part of the Economic and Monetary Union of West Africa (UEMOA). The project financing is the first such facility to be arranged for a mining project in Burkina Faso, with little or no precedent available in other UEMOA countries. Therefore, while the Youga gold project is forecast to be a robust project applying conventional mining and processing methods, a number of legal, technical, commercial and social issues required identification, evaluation and resolution before the loan could be established. This paper describes that evaluation process and the resolution of these issues. In-house experience and expertise in both the LendersÆ and BorrowerÆs teams has facilitated a greater understanding and æownershipÆ of the issues and hence provided comfort with risks which might not normally be taken in conventional project developments and project financings. As a result, blanket external reviews were not required by the Lenders. A long-standing relationship between Etruscan and RMB Resources also facilitated solutions to a number of issues. Nevertheless, a degree of flexibility by the Lenders, the Borrower and Etruscan was required to successfully close the financing.

Jan 1, 2007