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By Hal McVey

Introduction The role of marketing in the minerals and mining industry takes on different degrees of importance depending on the commodity, but nowhere are sales and marketing more important than in industrial minerals. This article compares industrial minerals marketing with the marketing of other mining and mineral products. Marketing in Mining Some broad generalizations on the marketing of industrial minerals in relation to other mineral products can be made without getting bogged down with exceptions to generalizations. Two totally different areas of mineral production are crude oil and natural gas, and metals, including ores and concentrates. Although these commodities are the basis for two completely different industries, they share two things in common from a marketing standpoint: • Their value per unit volume is usually high enough so that they can be transported great distances. • Their specifications are readily definable and, therefore, the quality of a standard product from a production run can be communicated by stating certain chemical and physical features. This permits sales to be consummated by telephone, telex, and letter, without the need to pretest the products under use conditions. In regard to the first item, industrial minerals, as opposed to oil, gas, and metals, are in most instances site specific. Location of the point of production in relation to the point of use is of paramount importance based on a generally lower unit to volume value. This means that transportation is a major factor, with the cost of getting the mineral to market commonly exceeding its f.o.b. value. Coal marketing has many characteristics in common with industrial minerals. Coal sales can es-

Jan 11, 1983

By Yuting Xue, Brijes Mishra

The relaxation test on sandstone specimens showed typical behavior in pre-failure region and stepwise behavior in the postfailure region. Overall, more significant stress relaxation occurred within the failed specimens than the intact ones. Numerical simulations were conducted with pre-defined failure plane and with Voronoi tessellation to visualize the relaxation behavior. The model with pre-defined failure plane showed the key role of failure plane and asperity in simulating the step-wise post-failure relaxation behavior. The inhomogeneous stress distribution within failed specimen and the viscous deformation of intact rocks induced high stress concentration at the asperities. The observed step-wise relaxation initiated from the failure of asperity. Furthermore, the simulations with Voronoi tessellation showed time-dependent fracture development during relaxation in post-failure region. The presence of fractures completely changed the stress distribution. Stress concentration occurred at the front area of fractures and at the interacting areas between fractures. During relaxation, fractures still developed with time and the sudden significant increase in the “damage” coincided with the acceleration of stress relaxation leading to step-wise relaxation. Finally, the results showed the possibility of using residual strength as the long-term strength of failed rock.

Jun 25, 2020

By Joseph W. Murray

GENERAL DESCRIPTION The undercut-and-fill method of mining was devel¬oped by Inco Ltd. in the Sudbury district of Ontario, Canada, to deal with abnormal ground conditions en¬countered in pillar recovery. Although it is now some¬times utilized as a primary stoping method, the main application continues to be in pillar recovery. In any mining method in which fill is employed, pillar systems tend to fail gradually as stoping pro¬gresses. As a result, most pillars are completely destressed and broken by the time pillar recovery com¬mences. Control of the back in such ground becomes a major problem and is contingent on local conditions as they exist in the workplace. In most mining methods, operations such as drilling, blasting, slushing, and tim¬bering can be readily assessed and the mining cycle pre¬dicted. However, in the mining of pillars with overhand methods, the time and effort required to maintain a safe back varies to a quite unpredictable extent. For years the square-set method was the most effective means available for pillar recovery. However, in areas where bad ground was encountered, square setting was a costly and sometimes hazardous method. As the tonnage mined from pillars increased, it was apparent that a safer and less expensive approach was required. Past experience indicated that the best way to deal with broken ground was to mine from the top down. Top slicing systems were examined but were rejected due to the major sub¬sidence which resulted. However, ideas generated from studying top slicing finally developed into the present method of undercut-and-fill. This method, which has almost completely replaced square-set mining, exhibits reduced costs, has improved safety and efficiency, elimi¬nates the factor of bad ground overhead, and allows a closer prediction of the actual mining cycle. The result is more accurate scheduling of pillar production. This factor is of increasing importance as the tonnage from pillar recovery increases in relation to total mine pro¬duction. Undercut-and-fill is a method of extracting a block of ore by mining successive cuts, working from the top down. After a cut of ore is completely mined out, lami¬nated timber stringers are constructed along the sides for the full length of the cut. Round logs covered by a wire screen are laid across the stringers to form a mat. The cut is then tightly filled with hydraulically placed cemented sand fill. Mining is then resumed on the cut immediately below the mat. As the cut advances, the timber stringers are supported by round timber posts seated on the solid bottom of the cut. Drilling, blasting, muck removal, and timbering operations are repeated until all the ore in the cut has been removed. At this time, another log mat is laid and the cut is filled. This sequence is continued until the block has been mined from level to level. The basic principles of undercut-and-fill can be adapted to a variety of mining situations. It can be applied transversely or longitudinally in ore bodies of varying width, that dip from vertical to flat lying. The method can be applied using conventional equipment or it can be mechanized through the introduction of small diesel or air-powered units for muck removal. Undercut¬and-fill is a selective method, ore recovery is high, and dilution can be controlled to an acceptable level. How¬ever, it is a high-cost, labor-intensive method and as such its use is restricted to areas where the less costly meth¬ods of ground support are not successful or where bulk mining methods are not adaptable. One basic require¬ment for undercut-and-fill is an adequate source of hydraulically placed cemented sand fill and a dependable sand plant and distribution system. The success of the undercut method is to a large degree dependent on the competence of the fill placed in each of the successive cuts. In theory, the weight of the fill on each cut is supported in part by the cemented sand itself as it binds to the rough sides of the mined¬out areas next to the pillar walls, and in part by the tim¬ber support. As mining progresses beneath the mat, a downward pressure is exerted within the cemented fill and a voussoir arch develops above the mat, across the full width of the cut. This supports the major portion of the load. The log mat and posts have a double func¬tion in that they carry the remaining weight not sup¬ported by the voussoir arch and in addition prevent any pronounced settling of the fill mass. Excessive settling breaks the bond between the cemented fill and the pillar walls, eliminating the arch effect and transferring the entire load to the mat and posts. The theory of a voussoir arch forming within the cemented sand fill mass is substantiated in practice by the fact that pillars have been mined from level to level with no more significant weight on the bottom cuts than was experienced on the top cuts. In effect, as mining progresses downward, there is no additional transfer of weight from previous cuts to the cut being mined. APPLICATION OF UNDERCUT-AND-FILL Because of their size, the Sudbury ore bodies are, for the most part, mined transversely and, to a considerable extent, by filling methods. Transverse stoping blocks are designed with 9-m (30-ft) crown pillars established be¬low each level and with stopes separated by vertical rib pillars. In past years, floor pillars were left above the level as well, but present practice favors the silling of primary stopes at the base of the rail. Rib pillars are designed to meet the ground control requirements of the primary stoping methods. Local conditions and past experience generally dictate their size. Historically, since the square-set method was to be used for recovery, rib pillars were designed to accommo¬date standard 1.7-m (5'h-ft) sets. A typical rib pillar is four sets wide [6.7 m (22 ft)] when located between two square-set or cut-and-fill stopes having a width of 8.4 m (27.5 ft). When the undercut-and-fill method was de¬veloped, a mat width of two sets was adopted. This di¬vided each cut of the common four-set pillar into two

Jan 1, 1982

By M. Laliberte

"Gold-mine effluents are often characterized by high concentrations of copper, ammonia and cyanide derivatives (mostly cyanates and thiocyanates). While not acutely toxic to birds, this water can be acutely toxic to fishes and invertebrates. In many jurisdictions, the effluent requires further treatment in order to pass a mandatory requirement to be nonlethal to species like the rainbow trout (Oncorhynchus mykiss) or Daphnia magna. Using actual mine water, it has been demonstrated that aerated moving bed biofilm reactors will biodegrade the ammonia, cyanides, cyanates and thiocyanates, thereby removing the toxicity associated with these components. By removing copper by precipitation the water can be made to pass acute toxicity tests. Tests have demonstrated that the process is stable between 4 and 25°C, with no significant changes in the treated water composition. Once the biomass is acclimatized, the process is resistant to upsets and requires very little inputs except for phosphorus and air. Furthermore, it has been demonstrated that an anoxic reactor can be added downstream of the aerated reactors to remove nitrates if required.IntroductionThis paper will demonstrate that gold-mine effluents, which are toxic to fishes and invertebrates, can be made nontoxic by using a combination of chemical precipitation and biological oxidation.The typical composition of gold-mine effluents will first be described. The applicable legislation will then be introduced, with its requirement that the treated effluent be nontoxic. The toxicity of a typical untreated effluent will then be confirmed, and the sources of the toxicity identified. After that, a number of toxicity reduction treatment methods will be presented, and the selected method will be described.The lab tests that confirmed the efficiency of the treatment method will be presented, with three phases of testing as the understanding of the process gradually improved. Toxicity test results showing that the water is nontoxic after treatment through the temperature range will be presented."

Jan 1, 2015

By Peter N. Calder

The selection of a slope angle for an open pit in rock has often been made without the benefit of a comprehensive engineering study. This is largely due to the fact that the hardware and procedures necessary for such a study have not been available. Recently this situation has been reversed. The application of borehole television and terrestrial photogrammetric devices has made possible the accurate determination of rock joint structure, on which stability calculations can be based. Another important aspect is the evolution of practical methods of conducting in-situ rock joint strength tests.

Jan 1, 1971

By B. Qiu, Y. Luo

Longwall and/or room-and-pillar mining operations in multiple coal seams may not only induce subsurface and surface subsidence but also cause interactions between these mined coal seams. The interaction might destabilize underground mine structures and subsequently induce additional strata movements. Mathematical models to use the predicted subsurface deformations to assess the interactions and the consequences have been developed. The models are incorporated into a computer program, CISPM-MS, for predicting the final surface movements and deformations, as well as the mining interactions associated with multiseam coal mining operations. It predicts final surface movements and deformations caused by the individual mining operations and by the interactive effects. The program can also be used to assess mine structural stability in multiseam mining operations. The paper presents the developed interaction models and their application in surface subsidence prediction caused by multiseam mining operations. A case study involving mining in two coal seams, using longwall and room-and-pillar mining methods, respectively, will be used to validate the program.

Jan 1, 2013

By Ali Keneti, Xavier Ryan, Gerardo Sanchez, Shannon Goff

In this study, FLAC3D modeling was conducted for ground-structure stability assessment for a pilot tunnel passing under a large shaft excavated in the vicinity of existing structures at Karangahape Station for the City Rail Link Project in Auckland, New Zealand. The analysis involved generation of the geometries and construction sequences in Rhinoceros®, modeling the existing ground condition, calibration of the simulated in situ conditions with the observed behavior of the ground, and excavation of the shaft and the pilot tunnel. A comprehensive interpretation of the results was then performed accompanied by comparison of the predicted behavior with the observed response of the ground during construction.

Dec 1, 2022

By W. K. Utt

This report discusses U.S. Bureau of Mines' research involving modem vehicle position determination techniques in surface mining. The applications would include haul trucks, power shovels, and drilling rigs. Accurate position determination of these vehicles in near real-time is expected to result in safer and more efficient mining operations. The requirements for a vehicle position monitoring and warning system were determined. After screening several concepts, the global positioning system (GPS) and a radar positioning system were selected for further evaluation. A state-of-the-art GPS receiver was taken to a surface mine to assess the feasibility of receiving the satellite signals. A state-of-the-art radar positioning system was evaluated with regard to accuracy.

Jan 1, 1995

By K. Mulukhov

Introduction The depth of open-pit mines continues to increase. The typical designed depth for large quarries is now in the 300 to 600 m (1,000 to 2,000 ft) range, with some quarries even reaching depths of 700 to 800 m (2,300 to 2,600 ft). The cost of handling material from such deep mines can be 60% to 70% of the total cost. The capacity of using a cyclic means of transport, such as trucks or skip hoists, continues to drop as the depth of the mine increases. In addition to the problem of maintaining relatively low slope angles for haul roads, increases in environment pollution and increased fuel consumption make the use of trucks ineffective below 100 to 150 m (300 to 500 ft). In handling large quantities of bulky materials, i.e., more than 15 to 20 Mt/a (16 to 22 million stpy), under fixed terminal points, belt conveyors are preferable in almost in all cases. An exception is when the lump size of the load is too high for the conveyor to handle. Belt conveyors in mines can handle loads having a maximum lump size of no more than 250 to 300 mm (10 to 12 in.). The use of a movable crusher prior to the belt conveyor in an open-pit mine would make the process very expensive. Such an operation could not compete with truck haulage on a cost basis. Belt-car conveyor The main factor that restricts the lump size for conventional belt conveyors is collision impacts between the load-carrying belt and idlers. These impacts are completely eliminated in the belt-car conveyor, which was previously described by Mulukhov (1977). The unique feature of the conveyor is that the load-carrying belt is supported by moving cars. Each car consists of a troughed cross strap that supports the belt with the load and two rollers, on which the cars move along upper and lower rails. Cars are connected by two endless chains revolving over sprockets. The system uses conventional drive pulleys, tail pulleys and return idlers. There are no fasteners between the carrying belt and the car cross straps. The conveyor belt simply drives the cars along by the force of friction between the belt and the straps. A belt-car conveyor was first installed in 1970 at the Karatau mining operation in Kazakhstan. The system was an elevating conveyor with an inclination of 20° and was located on the final part of the truck haul road. The conveyor transferred blasting phosphate ore from the quarry to the crushing plant. A bunker was mounted between the trucks and the conveyor. The maximum lump size was typically 1,200 mm (48 in.). However, there were some lumps as large as 1,500mm (60 in.), which was greater than even the belt width (Fig. 1). Because the prototype belt-car conveyor was intended only for industrial trails, it had a relatively short length of about 50 m (160 ft). Nevertheless, the conveyor yielded a substantial profit over the cost of truck haulage. Naturally, the first question one might ask is why such a system is not now widely used. The reason was the further development of a huge transporting complex for the whole quarry at the base of the belt-car conveyor. After successful industrial trials from 1971 through 1973, which demonstrated the systems engineering feasibility, the State Planning Committee of the USSR included the development of the belt-car conveyor in its plan for the development of the national economy. However, mistakes were made. First, a single organization was not in charge of the development. Second, a plant that was not specialized in belt conveyors was put in charge of the design and manufacturing of the conveyor system. In addition, the crusher was installed before the stacker, which negated the major advantages of the belt-car conveyor. For loading the conveyor, a special blade feeder with pendulum suspension was developed, but it was found unreliable. The main conclusion was that, in-

Jan 1, 2003

By Mehdi Noori, Atefeh Azizitorghabeh, Fereshteh Rashchi, Ataollah Babakhani, Sarah Mahmoudi

The focus of this research was to evaluate the synergistic effect of bis(2,4,4-trimethylpentyl) phosphinic acid (CYANEX 272) and di-(2-ethylhexyl) phosphoric acid (D2EHPA), diluted in kerosene, on the extraction and separation of Co(II) and Li(I) from synthetic sulfate solution. The results indicated that using a mixture of CYANEX 272 and D2EHPA was efficient in extracting and separating Co(II) from Li(I). The optimum ratio of CYANEX 272/D2EHPA was found to be 5:1, in which the highest separation factor was obtained (5973.23), and ΔpH0.5 was 4.10. Adding tributyl phosphate (TBP) as a modifier and increasing the temperature improved the metals’ separation rate and extraction efficiency. Thermodynamic studies were also carried out, and ΔH, ΔS, and ΔG values were computed, revealing the endothermic nature of Co(II) and Li(I) extraction by CYANEX 272/D2EHPA mixture. The conducted experiments for the McCabe–Thiele diagram showed the possibility of using two stages to extract over 99% of Co(II) and Li(I). Slope analysis and Fourier transform infrared spectroscopy (FT-IR) were employed to comprehend the Co(II) and Li(I) extraction mechanism using a mixture of CYANEX 272 and D2EHPA.

Jan 17, 2022

By G. S. Austin

New Mexico produced 83% of domestic potash and 27% of domestic consumption in 1992. The potash industry of New Mexico produces sylvite (KCI), langbeinite (K2SO4-2Mg(SO4)2), and artificial K2SO4. Average sylvite grade in New Mexico today is about 14%. The average grade of langbeinite is 8-10% Kp. Commercial potash occurs in the middle or McNutt Member of the Salado Formation (Upper Permian Ochoan Series). The 120-m-thick McNutt Member dips about 1° east and contains 11 of 12 potential ore zones in the Salado. The mineralogy and proportion of clay minerals, up to 7% of the ore, influence optimum milling procedures and ore grade cutoff.

Jan 1, 1994

By R. D. Herron

Mining coal under deep cover conditions is certainly the proper phrase to use in describing one of our newest operations. Located in the southwest corner of Virginia is this operation which is the Beatrice Mine of the Beatrice Pocahontas Company, a joint venture of Republic Steel Corporation and Island Creek Coal Company. The mine is working in the No. 3 Pocahontas seam in an assigned area of over 9500 acres containing over 60 million tons of recoverable, high quality, low volatile coal. The site of the mine opening was at Keen Mountain, Virginia, where the seam lay 1350 feet below the surface. This depth, greater than anything attempted thus far in the coal industry on this continent, would pose some problems, we felt, with which we had not previously had to contend.

Jan 1, 1968

By Juan J. Monsalve, AMAN SONI, Nino Ripepi, Richard Bishop

The design and strength of pillars are important parameters while implementing the room-and-pillar mining method in a limestone mine. The process becomes complex with the presence of the karst voids which are frequent phenomena in a carbonate rock formation. The karst system is a network of cavities that along with an omnipresent fracture network may lead to ground control issues in a limestone mine. The objective of this study is to provide a safe and reliable alternative design for a pillar in a case study mine for safe and efficient ore recovery. This research is a continuation of a previous study aimed at studying the effect of karst void on the strength of the same limestone pillar. It was assessed from the calculated pillar strength and the estimated redistributed stresses that the pillar is capable of countering more stress than is currently imparted on it. Numerical modeling studies combining in situ stress determination and excavation sequencing were used to estimate the existing stresses on the pillar. Different possibilities of modification to existing pillar design were simulated using Distinct-Element Modeling (DEM) to determine a better design. Discrete fracture networks (DFNs) were included to imitate the effect of the presence of discontinuities. An effort is also made to understand the variation of pillar strength with height for karst-affected pillars using two different constitutive models. This study serves as a preliminary investigation in terms of improving the future design of pillars and also while recovering old pillars prone to karst formation.

Jan 30, 2023

By Z. T. Bieniawski, E. H. Skinner, R. A. Cummings, F. S. Kendorski

INTRODUCTION Caving Mine Drift Support Design The support of production drifts remains a high-cost item facing the developer or operator of an underground caving mine. Support costs are incurred well in advance of ore production, and there is a strong need to minimize these pre-production commitments of capital. Due to the extensive rock loads that normally develop during the caving process, the support used in caving mines is typically quite heavy and therefore costly. The process of designing this support increasingly makes use of basic tunneling principles, but is hindered by the still-incomplete state of knowledge of rock behavior in caving mines, and high variability of geological conditions in caving orebodies. Caving mines differ from tunnels in that the deformations and rock loads induced are transient and dynamic in occurrence, and are normally large in magnitude, often well in excess of rock mass strength. As opposed to tunnels, caving mine layouts are more intricate, and the methods and effects of construction ordinarily are not as closely monitored. Safety factors in mining tend to be lower and rock masses tend to he weaker. These aspects prevent strict application of tunnel design technology to caving mine drift support, with the result that mine drift supports are commonly designed chiefly on the basis of experience at other mines. Mining procedures at caving mines are evolved in response to site-specific requirements, to the extent that there are really as many caving methods as there are caving mines.

Jan 1, 1983

By J. M. Beck

Mineral property appraisers engaged in eminent domain actions on properties for which mining is the highest and best use must be fully competent in all phases of mineral resource estimation, mine project development, and mine operations (or retain the requisite competent assistance), as well as educated in eminent domain appraisal (USPAP Competency Rule). Failure to ensure such triggers the issue of appraisal competence and demonstrates a flagrant disregard of the myriad code(s) and guidelines to which the appraiser is subject. The cavalier assertion of some vague, undefined “latitude” in the valuation process does not exonerate the appraiser from a disregard of the USPAP Competency Rule. Lack of independence (i.e., “advocacy”) in mineral property appraisal is the usual result of a weak background in mining and/or appraisal theory. While it is readily apparent to those able to recognize it in reports and testimony, judges and juries cannot be expected to detect or recognize purposefully misleading (or even fraudulent) valuation concepts or testimony. Purposeful deception by the appraiser can lead to specious over-compensation of the property owner (thus victimizing the taxpayer); or, a failure to provide appropriate and just compensation to the property owner – yet, the purpose of an eminent domain proceeding is to leave the property owner no richer or poorer as a result of the taking. This paper highlights some of the deceptive practices encountered in litigation settings and raises issues of competency, professional ethics, and the effectiveness of the inherent enforcement capabilities within those institutions awarding professional certifications. INTRODUCTION The practice of eminent domain mineral property appraisal requires (particularly with respect to undeveloped mineral properties) that the appraiser possess the requisite level of competence in all phases of mineral resource estimation, mine project evaluation, mine development, and mine operation (through closure). To the extent the appraiser lacks such competence, it is incumbent on the appraiser not only to divulge this lack of expertise but also to seek competent assistance in the performance of the appraisal. This competence or expertise can only be obtained through a combination of appropriate and relevant technical education and direct mining industry experience. There exist a number of professional certification and/or credentialing authorities that speak to such competency. In a similar manner, eminent domain mineral property appraisal (as the term implies) also requires that the appraiser possess the requisite level of competence in the practice of eminent domain appraisal. This competence or expertise can only be obtained through appropriate and relevant education, direct knowledge of appraisal theory, particularly as it relates to the concept of eminent domain, and licensure.

Jan 1, 2019

By Gene Mattila

Each installed rock bolt costs in excess of 520.00. High cost in conjunction with the primary purpose of safety makes it only logical to install the highest quality anchors possible. Each bolt has designed support capabilities in axial, shear and fluctuating ground condition, if installed to manufacturers recommendations. The quality of anchor is not; however, only affected by material specifications, but by transportation, handling storage, installation procedure, machine performance and geology. The quality is not only affected by many variables, but reliability should be assured. Non-destructive methods of testing reliability are only available for several types of bolts.

Jan 1, 1985

By Daniel G. DiCanio

Investigation of the costs of industrial accidents dates back to the 1920s. The Bureau of Mines was one of the pioneers in accident cost investigation with numerous studies published between 1928 and 1933. The bulk of these early investigations dealt only with costs which appeared as payouts on company books; that is, the direct cost of insurance premiums and the costs of medical expenses which resulted from industrial accidents. These early investigations, especially the Bureau's study of accident costs in Pennsylvania and Indiana coal mines provided the first real evidence that promotion of industrial safety pays back in dollars as well as in human life and wellbeing. In the 30s and 40s, investigations began to accumulate evidence that industrial accidents impacted more than just the direct operating expenses of a company (i.e., higher insurance premiums). The work of Heinrich pioneered these investigations, and produced strong evidence that the un¬insured costs of accidents far outweighed those costs covered by insurance. Heinrich developed and published a ratio of insured to uninsured costs of 1.4. Despite his cautionary statements about blanket application of this ratio it is used even today to estimate total costs of accidents. Simonds, in the late 40s and early 50s, extended the definitions of uninsured or indirect accident costs and developed what is now regarded as the principal method for estimating the total economic impact of industrial accidents. Simonds' method served as the basis for development of the logic of the Accident Cost Indicator Model (ACIM). However, several departures from Simonds' method were made to satisfy certain requirements imposed by the Bureau of Mines, and because information gathered during the course of our investigation justified a departure. These departures are noted in the discussion which follows.

Jan 1, 1977

By B. Schimm

Mining of material without blasting and / or selectively becomes more and more important for high quality ROM-products. Surface Miners have been developed especially for this purpose. The cutting technology of these machines has been improved, so that harder material as well as wet and sticky materials can be cut with better results now. Especially the cutting drum design and more precise drum manufacturing process now allow production and equal tool wear over a long period. The better knowledge of rock parameters influencing the cuttability and cutting results allow higher production, less cutting tool wear and therefore reduced production costs.

Jan 1, 1999

To preserve Washington Group International's quality of service in the mine operations area, the company has established a Supervisor Training Program to provide all levels of supervision with the required skills to meet objectives and guarantee consistent, excellent performance for each of our projects. A need developed to establish this training program internationally. The first international training session was held at the APEX San Cristóbal Mine in Bolivia. This paper discusses the program’s development, execution, results, and lessons learned with an emphasis on multicultural environments.

Jan 1, 2007

Construction of the Boddington Mine 130 km (81 miles) southeast of Perth, is about 89 percent complete. When the $2.9-billion development is finished, it will be the largest gold mine in Australia, producing 31 t/a (1 million oz/year), according to project majority owner Newmont Mining. Newmont?s acting regional group executive for Asia Pacific, Philip Stephenson, told a gold conference in Australia that the project would be ?the biggest thing for Newmont this year.? The project has been in the works for more than 10 years, but because of a three-sided ownership and fluctuating gold prices, it struggled to get started. However, Newmont is set to become the full owner of the project and is moving ahead on the low-grade project. ?We are targeting annual production of 31 t/a (1 million oz/year) for each of Boddington?s first five years. When it is in full production, Boddington will be the largest gold mine in Australia,? Stephenson said. ?The mine?s costs applicable to sales will be around US$9.64/g (US$300/oz) and that puts Boddington into the bottom quartile of the global cost curve. ?Strategically for Newmont, Boddington coming on-line will improve Newmont?s overall global geopolitical risk profile as it delivers greater exposure to an AAA-rated country.? Boddington has a projected mine life of 20 plus years. It has current total reserves of 622 t (20 million oz) and rising. Stephenson said Boddington has the largest reserve base of all gold projects in production or those that are about to go into production in A-rated countries or better. And it will be an important asset for many years to come. Newmont will acquire the remaining 33 percent share held by AngloGold Ashanti in a deal that should be concluded in the next two months. Australian miner Newcrest Mining Ltd. had exited the joint venture several years ago. Newmont had come into the project through the take-over of then Australia?s leading gold miner Normandy Mining, while AngloGold Ashanti gained entry through

Jan 1, 2009