Search Documents

By G. O. Rading, B. O. Odera, M. J. Papo, R. Couperthwaite

"Platinum-based alloys are being developed with microstructures similar to nickel-based superalloys for potential high-temperature applications in aggressive environments. Since the chemistries of nickel and platinum are similar, Pt-based alloys can be made with gamma prime ~Pt3Al precipitates in a gamma (Pt) matrix. Currently, the Pt-Al-Cr-Ru system is one of the bases for developing Pt-based alloys, where Al allows the formation of thePt3Al precipitate and also gives protection from the alumina scale formed, Cr provides oxidation resistance and stabilization for the L12~Pt3Al phase, and Ru provides solid solution strengthening in the (Pt) matrix. Four Pt-Al-Cr-Ru-V and two Pt-Al-Cr-Ru-V-Nb alloys were made, with compositions based on a quaternary alloy, ~Pt82:Al12:Cr4:Ru2, which hadpreviously been identified as having optimum properties. Four of the as-cast alloys had the targeted two-phase structure of ~Pt3Al and (Pt), and two were single-phase ~Pt3Al. Vanadium partitioned more to (Pt) than to~Pt3Al. There was an improvement in hardness compared to the quaternary alloys. The best addition of V was ~15 at.%; higher additions resulted in brittle intermetallic phases of the Pt-V system. The effect of Nbcould not be ascertained because of its high losses."

Jan 1, 2015

By J. Forwood

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 project's 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 Lenders' and Borrower's teams has facilitated a greater understanding and `ownership' 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

By G. Nino de Guzman, L. C. Woollacott

The isotherms that are usually taken to represent the force 'driving' the adsorption in carbon-in-pulp processes may change from contactor to contactor. This paper reports on an investigation into the extent to which this Isotherm shift is Influenced by the changes in oxygen and cyanide concentration that occur in operating plants. The impact of the isotherm shift on the reliability of simulation results is examined.

Jan 1, 1993

By G. van Hout, D. Rahal

Caving is a mass mining method that is normally applied to large, low grade orebodies because of its low production cost and high capacity. However, equipment breakdown and poor draw management can cause mining costs to exceed that of all other mining methods. One way to minimize the effect of disruptions in the mining cycle is to use Mixed Integer Linear Programming (MILP) for long-term scheduling. This paper describes a MILP goal program which has the dual objectives of minimizing deviation from the ideal draw profile while achieving a production target. Schedule optimization is performed using a life of mine approach in which all production periods are optimized simultaneously. The underlying assumption being that material mixing in the short-term (between monthly optimization cycles) has a minimal effect on the long-term state of the panel. Schedule optimization is carried out using six general constraint types to model and control production. The constraint types define: deviation from ideal practice, panel state, material flow conservation, production quality, material flow capacity and production control. These constraints define production targets and drive production toward the ideal profile while maintaining correct mining practice. Application of the model using production scheduling data for a De Beers kimberlite mine. It is shown how different production control constraints regulate production from individual drawpoints as well as recovery of the ideal panel profile by implementing an optimised draw schedule.

Jan 1, 2003

By A. Nhasengo

Paper written on project work carried out in partial fulfilment of B. sc. Eng (Mining Engineering) The purpose of this investigation was to assess the mining strategy for steep reefs at Mine A mine in 2005 and 2006. Reefs steeper than 35° were discovered when production commenced at the mine. At that time reefs steeper than 35° were not popular in South African tabular gold mines, therefore new techniques of mining them had to be developed. The underhand mining method was chosen for this purpose. The project was about assessing ventilation, support costs, local support cycles, adherence to the mine?s support standards, mine planning and efficiencies of the underhand mining method. The project work was covered by doing a literature research for underhand mining methods and performing a literature review of the mining methods, support methods, ventilation standards at Mine A. Underground visits were conducted at Mine A mine for data collection, and Mine B was visited to obtain information on support costs and efficiencies. During the investigation it was realized that the underhand mining method was an appropriate method for mining steep reefs; however, there were some challenges related to ventilation and support installation. Efficiencies could be realized with the underhand mining method and planning and scheduling were not different from breast mining.

Jan 1, 2007

By R. Dekkers, J. Plessers

The feasibility of using hydrogen to obtain clean steels is investigated. High hydrogen contents are generally considered as detrimental due to the risk of flakes, bubbles and breakouts during casting. Hydrogen can nonetheless be removed by degassing of the steel. The results of industrial campaigns, where total oxygen content and hydrogen content were monitored, are presented. High resolution microscopy of inclusions and laboratory experiments on the rate of inclusion removal by CaO-Al2O3 slags at different partial hydrogen have been carried out. So far, evidence that hydrogen may influence inclusions or the steel cleanliness is not clear. Keywords: hydrogen, cleanliness, inclusions.

Jan 1, 2004

By D. P. Roberts

This investigation aimed to simulate the experiments performed by Nic Gay (Gay, N.C. 1976. Fracture growth around openings in large blocks of rock subjected to uniaxial and biaxial compression. International Journal of Rock Mechanics and Minining Sciences and Geomechical Abstracts, vol. 13. pp. 231-243) on fracture growth around openings in blocks of rock subjected to uniaxial and biaxial compression, using the Elfen discrete element code. The results of the physical experiments indicated a number of trends that were successfully replicated in the numerical simulations, including crushing ahead of the face, the formation of a sub-vertical tensile fracture at centre-span, the formation of groups of fractures originating from the crushed face zone, the formation of large corner-to-corner fractures which precede sample failure, and linking of slot corner and sample corner fractures leading to sample failure. In addition, other features were apparent that were not reported by Gay. It is believed that these took the form of conjugate shear fractures (as reported by Gay in a previous paper) and other features that may have been altered or inhibited by the presence of pre-existing structure in the physical samples. It was found that the samples, though nominally made up of the same rock type, must have had significantly differing properties. The presence of pre-existing structures may have contributed to this discrepancy. Strain measurements from the physical experiments were reasonably well matched, except where the gauge lay directly in the path of advancing fractures.

Jan 1, 2012

By J. M. Ortiz

Grade control and short-term planning are usually based on the samples obtained from blastholes. These samples may carry a large sampling and sample preparation error. At El Tesoro copper mine in northern Chile, an advance drilling grid is used for short-term planning and grade control. These drill holes are sampled well in advance, and a short-term model that incorporates several variables and sophisticated estimation methods can be prepared for decisionmaking. An additional advantage of the advance drilling samples is that reverse circulation can be used instead of conventional down-the-hole equipment, and a very careful sampling and sample preparation process can be implemented, reducing the total sampling error. Advance drilling can be performed on a wider grid than blasthole drilling, hence the decision about the grid requires assessing the economic benefit of different sampling grids. Furthermore, this process allows the cost of poor sampling and the effect of different estimation procedures to be quantified. We demonstrate the optimization of the drilling grid for short-term planning and grade control at El Tesoro mine by means of the economic evaluation of the performance of different drilling grids, with different drilling techniques (which differ in the sampling error). The methodology is based on creating dense (exhaustive) geostatistical simulations of the grade distribution over a volume defined for a production period in respect of the geological model, and assuming each simulation as the true grade distribution. Then, samples are obtained from the exhaustive simulations at a spacing similar to the advance grid to be evaluated, and a sampling error is added. The short-term estimation procedures used on the mine are applied to determine the destination of each block and the profit obtained. This profit can be compared with the maximum profit (unachievable) and with the profit under different sampling errors and grids. The results show that the current 8 x 8 m drilling grid is appropriate and by reducing the sampling error, misclassification is also reduced, leading to an increase in profit of about US$ 5 million in 4 years.

Jan 1, 2012

By A. J. Van Rensburg, N. B. Strydom, C. H. Van Graan

The design, construction, and use of a practical ice-jacket for miners by N. B. STRYDOM, Ph.D. (Illinois) (Fellow), D. MITCHELL, Ph.D. (Rand) (Member), A. J. VAN RENSBURG, M.Sc (Poteh) (Visitor), and C. H. VAN GRAAN, M.Sc (Pretoria) (Visitor) Microclimate suits have been shown to be very effective in decreasing physiological strain in hot, wet environments, thus enabling men to work without risk in areas that would normally carry a high risk of heat stroke. In this paper, some design considerations in the development of the frozen jacket are described. Water complied with most of the desirable properties required of a coolant material for use In a microclimate suit. The Human Sciences Laboratory has developed a jacket in which ice is used as the coolant and which is designed according to the most acceptable anthropometrical characteristics. The jacket consists of an inner poncho-type waistcoat containing 28 water compartments. Over this is worn an insulating jacket, which minimizes warming of the coolant by the environment. Suitable refrigeration units have been developed to freeze the jackets underground. Laboratory tests have shown that these jackets are effective for about 2,5 hours, Irrespective of the wet-bulb environment, when men are working at a moderate rate. Jackets should, however, be used only in environments in which the wet-bulb temperature is in the range of 32,S0 to 35,S °C.

Jan 9, 1974

By R. Hummel

When the slope angles of the southern side of the Venetia open pit were required to be flattened by some 20 degrees after an analysis completed by De Beers geotechnical engineering in conjunction with SRK, the additional waste stripping tonnage generated was in the order of some 70 million tons. The potential cost of having to move this tonnage had a significantly negative effect on the Net Present Value of Venetia Mine, challenging the viability of the third pushback and rendering a potential fourth pushback completely uneconomic. This paper details some of the innovation that went into the design and planning process undertaken to virtually negate the instantaneous effect of the flattened slope angles and the associated waste tonnage as well as further improve the NPV of Venetia Mine and bring the fourth pushback back into economic viability. This process has become known as NPV+ and is anon going exercise in waste reduction/deferment and revenue advancement.

Jan 1, 2001

By A. McCracken

Probabilistic methods for assessing the reliability of engineering systems in mining are the way of the future. So agreed the delegates of a recent short course on the subject, entitled 'Reliability-based Approach in Mining engineering Design'. This was a very successful five-day technical course sponsored by The South African Institute of Mining and Metallurgy and held at Mintek from 7th to 11th March, 1988. The main lecturer for the course was Milton E. Har, Professor of Geotechnical Engineering at the School for Civil Engineering of Purdue University, Indiana, USA. Professor Har was ably assisted by Dr Dirk van Zyl, a former student. Science quiz Teams of pupils from 37 schools within a radius of 12 kilometres of the Council for Mineral Technology (Mintek) competed in a science quiz held by Mintek at its headquarters in Randburg on Tuesday, June 7th, 1988.

Jan 1, 1988

By J. -W. Kim, Y. -B. Kang, H. -G. Lee

The effect of SiO2addition on the decomposition of Li2CO3was investigated at temperatures up to 1000ºC. It was found that addition of SiO2greatly enhanced the decomposition of Li2CO3. The main decomposition reaction started at around 600ºC, and completed just above the melting point of Li2CO3. The major decomposition product was Li2O?SiO2irrespective of the Li2CO3to SiO2mixing ratio while both reactants were available. It was ascertained that a liquid layer betweenLi2CO3and SiO2particles formed and facilitated the decomposition reaction. The governing reaction of the decomposition was the one between the dissolved Li2CO3and SiO2in the liquid layer to form Li2O?SiO2. The decomposition rate was independent of the Li2CO3/SiO2mixingratio until either one had been completely exhausted. When excess Li2CO3existed, it further reacted with the initial product of Li2O?SiO2to form 2Li2O?SiO2. When SiO2was found in excess, on the other hand, no further reaction took place. This is attributed to the fact that uponLi2CO3exhaustion there is no liquid phase available to facilitate further reaction. The apparent activation energy of the decomposition of Li2CO3in existence with SiO2is 198 kJ mol-1.

Jan 1, 2004

By R. Singh, A. K. Dhawan, M. Dixit, H. Dev

ABSTRACT: The modulus of deformation of rock mass is an important engineering parameter required for the design of foundation of hydraulic structure and to study the interaction of rock mass and the structure at the foundation support. Different equipment and techniques are used to arrive at the design modulus value. Since any error in the estimation of modulus values results in multiplication of its effects in the analysis, it is necessary to know about the reliability of testing equipment and procedures. In the present study modulus values obtained by different in-situ equipment at different project sites have been compared. KURZFASSUNG: Der Verformungsmodul von der Felsenmasse ist technisch ein wichtiger Parameter, den man zur Konstuktion des Grunds fuer die Hydro – Tektonik, benoetigt um auch die gegenseitige Beeinflussung der Felsenmasse und der Tektonik am Traggrund zu betrachten. Verschiedene Geraete und Methoden werden angewandt, um den Ausfuehrungsmodul -Wert zu erreichen. Es ist erforderlich, die Zuverlaessigkeit der Pruefeinrichtung sowie des Verfahrens zu kennen, da irgend ein Fehler in der Abschaetzung von Modulwerten in der Analyse zu einer Vervielfachung ihrer Einwirkung fuehrt. In der vorligenden Arbeit werden die Modulwerte gewonnen aus unterschiedlichen Einrichtungen an Ort und Stelle and verschiedenen Projekt -Stellen mit einander verglichen. SOMMAIRE: Le module de deformation d’une roche est un parametre important pour la conception et realisation des ouvrages hydrauliques ainsi que pour etudier l’interaction de la roche et de la structure d’appuis de base. De divers equipments et techniques sont employes pour determiner la valeur de ce module de conception. Puisque l’effet d’une erreur d’evaluation du module devient multiplie dans l’analyse, il est necessaire de savoir la fiabilite des equipments et des methods qu’on ulilise. Dans cette etude, on a compare les valeurs des modules obtenues en employant les equipments in-situ aux sites differents de projets.

Jan 1, 2003

By I. R. Firth, D. L. Taylor

Metal mining operations, in particular gold mining operations, use intensive ore control procedures in order to manage the extraction of ore zones from benches containing both ore and waste material. Typical grade control procedures rely on blast hole samples to indicate ore grade. Statistical techniques and geological controls are then used to create two-dimensional polygons, which indicate zones of material designated as ore. These ore-polygons are calculated using pre-blast material locations and are generally not corrected for rock movement caused by blasting. This lack of correction appears to exacerbate the material mischaracterization problem of sending ore to the waste dump and/or waste to the mill. One Nevada gold mining company has estimated that this could be a $10 million per year problem for their operations. Using a simplified vector field algorithm, a method of taking point movement data and interpolating post-blast positions for all nodes in a polygon has been developed. Currently working in 2-dimentions (X-Y), this algorithm utilizes the movement vectors calculated from pre-and post-blast positions of targets placed in a blast, to generate a spatial transformation function for any point on the bench. This transformation is then applied to the nodes of the ore-polygons to produce modified dig lines ore polygons reflecting distortion and movement resulting from the blast. The method as implemented uses common mine planning routines and is performed using the Surpac software suite. The method may be adapted to use any pre-and post-blast point movement data available, and most mine planning suites include the simple interpolation algorithms used. Keywords: Blast movement; Ore control; Open pit blasting; Grade control

Jan 1, 2003

By B. J. Coetzee, P. W. Sonnendecker

The quality control of a two-stage coal washing process involves several complex components that need to be modelled accurately, to enable autonomous control of the process. The first objective is to develop a method to track the material through the washing process, while ensuring accurate washing prediction models are used. This was achieved through a digital twin model of the Grootegeluk 1 coal processing plant. The model is the amalgamation of manipulating and combining of data-sets from the plant historian, geological wash tables, and mining dispatch servers. This information is then used to control and set the processing medium densities of all 15 modules on the plant, 10 modules in the primary wash and 5 modules in the secondary wash. This controller has been successfully implemented and controlled the plant for 10 days.

Aug 2, 2022

By M. I. Mthenjane

"BackgroundThe paper discusses post-mining land use however, the essence of the topic is the emotional motivation behind the decisions related to mining investment and development. Therefore this is not a typical SAIMM technical paper about the science and techniques of post-mining land use. There are already numerous papers written and conferences held on this aspect of post-mine land use; the science is well understood, but the evidence of the practical application of the (environmental, social, and economic) science is sparse. At a recent conference held in November 2017 on the theme of ‘Science, Business, Society Dialogue – linking science, society, business and policy for the sustainable use of abandoned mines in the SADC region’, it was demonstrated through the delivery of several papers on the possible viable options of post-mine land use. The conference was structured in nine sessions, covering the following relevant topics:? Sessions 1 and 2: Nature and magnitude of the problem: raising awareness? Sessions 3 and 4: International experiences in remediation: case studies? Sessions 5, 6 and, 7: Technological solutions: converting liabilities into assets? Session 8: Implementing solutions: social and legal aspects? Session 9: Wrap up, lessons learned: conference resolution.Summaries of the key outcomes of the sessions are available for reference.The aim of this paper, accompanied by the video speech, is to provide a visualization of the possibilities of post-mine land use. Mining contributes approximately 7% to South Africa’s GDP - this is the lowest it has ever been and is attributable to both a diversifying economy and to poor mining and investment policy which has resulted in reduced investment in the sector. The objective of the paper is to highlight the opportunities, for succeeding and diversifying economic activity following mining and mineral extraction which can continue to sustain the livelihoods and wellbeing of communities and societies beyond mining.During mining, very few alternative and local economies develop. Dependence on mining and its value chain prevails until mining ceases. This idea is conveyed in Figures 1a and b."

Jul 1, 2019

By I. J. Barker

Keywords: Submerged-arc furnace, plasma furnace, d.c. furnace, scale up, Søderberg electrodes, smart grid, demand side management, load shedding This paper argues that the scale up of furnaces and the supply of electricity are going to be two major issues that will affect the ferro-alloy industry in the near future, and that economic factors will drive this development. The most common type of furnace for producing ferro-alloys at present is the submerged-arc furnace with three electrodes, fed from a three-phase a.c. electrical supply. The scale up of this technology has now reached a fundamental constraint, which is caused by the electrical reactance of the secondary circuit. If the economy of any further scale up is to be achieved in the future then a different technology will have to be used. The supply of electrical power in future is likely to become a more complex issue than it is at present. Existing submerged-arc furnaces tend to run at fairly steady loads, but the ability to swing the load under demand-side management may offer advantages, and may allow a furnace to get cheaper power from the organisations that supply this power. This will have to be counterbalanced against the nuisance factors incurred by having a varying load in the operation of the furnace. Various options are therefore discussed in this paper. The possibility of scale up of Søderberg electrodes is discussed, as well as the use of d.c. power and multiple electrodes. Some of the issues with load swinging are also examined. A particular scenario is also briefly presented to show that considerable further scale up of ferro-alloy furnaces is still possible.

Jan 1, 2011

By A. E. Lewis

Particle morphology is a term that is used to describe the overall external shape and appearance of particulate solids. From the physical point of view, a precipitated solid is characterized primarily by the size and morphology of the particles (Sohnel andGarside, 1992). If the morphology of the crystal structures is to be related to the processing conditions, then the morphologies need to be quantified in some way. This can be achieved by using surface area measurements as well as fractal dimensions. The key idea is that rugged and indeterminate systems can be described by using a fractional number that describes the ruggedness of the system (Kaye, 1989). In other words, when the complexity of a structure, such as an agglomerate, increases with increasing magnification, it is useful to employ fractal dimensions to describe the structure. Fractal geometry proposes that, instead of attempting to measure the length of an irregular boundary, the rate at which the length of the boundary approaches infinity with increasing resolution should be calculated. Cross-sectional profiles of rugged particles can thus be quantified using the fractal dimension, and a measurement of the ruggedness of the morphology obtained. One of the additional uses of measuring the fractal dimension is that the measured value can be related to the physical properties and formation characteristics of the particle (Kaye and Trottier,1995). The morphology of nickel crystals was quantified with fractal dimension calculations of particle cross-sections. Particle cross-sections were obtained by mounting the particles in resin and polishing back. These were then photographed using Scanning Electron Microscopy and the resulting profiles analysed using the structured walk technique.

Jan 1, 2001

By Steven Rupprecht

"The South African Code for the Reporting of Exploration Results, Mineral Resources and Mineral Reserves (the SAMREC Code or the Code) sets out minimum standards, recommendations and guidelines for public reporting of exploration results, mineral resources and mineral reserves in South Africa. The Code is being rewritten and updated, with work on-going since 2013. The revision is being undertaken to ensure the Code remains relevant, incorporates developments within the international mining industry and keeps abreast of technology. Some of the changes and their reasons are discussed. INTRODUCTION The South African Code for the Reporting of Exploration Results, Mineral Resources and Mineral Reserves (the SAMREC Code or the Code) sets out minimum standards, recommendations and guidelines for public reporting of Exploration Results, Mineral Resources and Mineral Rreserves in South Africa. The Code is being rewritten and updated, with work on-going since 2013. The proposed 2016 update is not significantly different from previous versions of the Code. The revision is being undertaken to ensure the Code remains relevant, incorporates developments within the international mining industry and keeps abreast of technology. The Code sets out minimum standards, recommendations and guidelines for public reporting. However, reporting may be unclear, ambiguous, selective, obscure, distorted or unintelligible. Part of the purpose of the update is to provide better guidelines to Competent Persons (CPs) to ensure that the material information is being reported and that reporting is transparent in accordance with the guidelines of the Code. The information provided should, as required by the Code, be adequate to inform the “reader/investor or potential investor to make a reasonable and balanced assessment of the significance of the information”. The Committee for Mineral Reserves International Reporting Standards (CRIRSCO) highlights the importance of the reporting Codes, as provided from a quote from their website (www.crirsco.com): The mining industry is a vital contributor to national and global economies. It is a truly international business that depends on the trust and confidence of investors and other stakeholders for its financial and operational well-being. Unlike many other industries, it is based on depleting mineral assets, the knowledge of which is important prior to the commencement of extraction. It is therefore essential that the industry communicates the risks associated with investment effectively and transparently in order to earn the level of trust necessary to underpin its activities."

Jan 1, 2015

By C. Birch

"The purpose of this study was to establish the impact of discount rates on cut-off grades for narrow tabular gold deposits as characterized by the goldfields of the Witwatersrand Basin in South Africa. There are various methods available for determining the cut-off grade, from simple breakeven calculations to sophisticated software packages that consider a variety of inputs to optimize the cut-off grade. For this study a simple financial model was created in Microsoft Excel® that links the ore flow, block listing, and the cash flow. This allows the cut-off grade to be optimized considering how the cost of capital and chosen discount rate affect the cash flow.The discounted cash flow (DCF) and resultant net present value (NPV) are a widely used valuation method for production properties according to the South African Code for the Reporting of Mineral Asset Valuation (SAMVAL Code). The financial model in this study utilizes the Solver function, as well as simple Microsoft Excel spreadsheet formulae to optimize the NPV. Solver was chosen as it is a standard feature in Excel and thus no additional software costs are incurred beyond the basic Microsoft Office suite. For the purpose of this study, just narrow tabular gold deposits of the Witwatersrand Basin were considered. An example of a typical ore block listing, as well as the costing figures, was obtained from an operating gold mine. The results obtained from the study financial model were compared to the current cut-off grades obtained from the mine using their proprietary optimizer program, and were found to be comparable. The methodology utilized for this study thus appears valid.The cut-off grade was optimized considering the cash flow, which includes the variable mineral resource royalty tax, the variable gold income tax, as well as the discount rate. By comparing the resultant NPVs using discount rates of zero, 9%, and 12%, the impact of the discount rate on cut-off grades, resultant life of mine, and average mining grades (AMG) could be compared for the example ore block listing. The South African Code for Reporting of Exploration Results, Mineral Resources and Mineral Reserves (SAMREC Code) does not require operations to state if a discount rate was considered in determining mineable reserves. Mining companies approach the question of applying discount rates in determining their cut-off grades, and thus mine planning strategy, in different ways. Due to the negative impact that optimizing purely on NPV has on the life of mine, some choose to optimize only on profit. Other companies have reverted to utilizing pay limits as their primary grade planning strategy. The calculated cut-off grade is then considered to be another planning indicator rather than a hard determination of mineable reserves."

Jan 1, 2016