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By Joseph Hamuyuni, Fiseha Tesfaye, Daniel Lindberg

E-waste management through traditional methods such as disposing in landfills, burning in incinerators or exporting abroad for disposal are no longer options due to the strict environmental regulations. Fortunately, the presence of valuable metals in the e-waste and increasing demand for the metals as well as complexities of the currently available primary raw materials make recycling an attractive and viable option both environmentally and economically. Moreover, it is efficient in terms of resource management by closing the loop of metals. Consequently, urban mining such as the recovery of precious metals from e-waste streams through sustainable recycling processes have emerged. The sustainable recycling practices address the scarcity of primary resources and reduce consumption of energy for metals production while managing environmental issues related to hazardous materials from the e-waste streams. In this paper, valuable metals recoveries from e-waste streams through pyrometallurgical and hydrometallurgical processes are critically reviewed. And, innovative ideas for different steps of the thermochemical processes in the valuable metals and energy recovery from the e-waste streams are discussed.

Mar 1, 2017

How the Australasian and Canadian Codes (VALMIN and CIMVal) approach mineral property valuation is described. Brief comment is also made on the International Valuation Standards CommitteeÆs interest in a global valuation standard for Mineral (Extractive) Industries and the South African SAMREC initiatives to adopt a VALMIN-like Code. The conventional tripartite classification of valuation approaches into those that are Market-based, Income-based and Cost-based is outlined. It is best practice to use as many of these approaches as possible (and as many methods as reasonable in the particular circumstances), given the quantity and quality of the data available on the Mineral Asset (which depends upon the state of development of the mineral property). The use of specific methods must satisfy the basic considerations of logic and reasonableness and the purpose of the valuation. The competence, judgement and repute of the valuer are critical factors, since all valuations are time and circumstance specific. What constitutes æMarket ValueÆ in the different jurisdictions is discussed and definitions are given. Challenges facing the globalisation of a VALMIN-type Code for the international Minerals Industry are the influence of real estate valuers and the US jurisdictional idiosyncrasies. This is mainly due to a fixation on real property rights with a preference for using real estate-like comparative sales techniques (Market Approach) to the exclusion of Income-based approaches; a regulatory reluctance in the US to accept that Resources have considerable value; and the International Accounting Standards BoardÆs preference for Historical, rather than Current Value, accounting.

Jan 1, 2002

By A. L. Slaughter

A mineral deposit has been discovered and explored sufficiently to establish the presence of ore in ?commercially marketable quantities," This is the point at which exploration ends and development begins, Of course, when the presence of commercially marketable quantities of ore are thought to be present the deposit had to be evaluated before this decision could be reached. If, on the other hand, it was thought that commercially marketable quantities of ore are not present, either more exploration has to be done or the project must be abandoned. It is this decision with which this paper is concerned, more particularly, the influencing factors behind this decision. The final question to be answered is: what profit can my company reasonably expect to make by developing this property and putting it into production? The answer must be expressed as a figure for final profit per ton, money which can be used to pay dividends or to build up cash reserves. Some acquisition cost has probably been paid and the exploration cost incurred at the time of decision, (abandonment or development). In addition to returning these acquisition and exploration costs, the deposit must pay development, mining, milling, capital expense of new plants and equipment, taxes, and various other related costs.

Jan 1, 1958

By H. M. Chance

(Butte Meeting, August, 1913.) ADEQUATE treatment of the difficulties surrounding the valuation of mineral lands requires that agreement be first reached defining value as understood for the purpose of appraisal. To define value as the price of a product is not sufficient, and does not assist us in using the factors that cause variations in values and in relative values. The real value of any product depends primarily upon its relation to the necessities, comforts and pleasures of mankind. As the necessities, comforts and pleasures of the civilized races differ from those of more primitive man, the value of products varies with the degree of civilization and the environment of the consumer. Coal has no value to the savages of warm climates, and arrow-head flint none to the residents of New York. It has long been recognized that what has been termed ? intrinsic value " must be limited to materials that are essential to existence-air, water, food. But "intrinsic value" cannot be measured in monetary terms. The intrinsic value of a bushel of wheat is due to the fact that it will support the life of an individual for a certain definite time, but this fact does not enable us to measure or to express that value in monetary terms. It has often been proposed to adopt as a measure of the value of any product the quantity of labor necessary to produce it, but this method is of limited application, and will not apply to what may be termed "intrinsic values." For many reasons it might be well, while assenting to the fact that any material may he intrinsically valuable, to abandon the use of the term " intrinsic value." One of these reasons is the tendency to confuse the idea of intrinsic value with a value that is conferred by economic conditions, that is purely artificial and that may be permanent or evanescent; Intrinsic value must from its nature be permanent and unchangeable.

Jan 7, 1913

By H. M. Chance

(Butte Meeting, August, 1913.) ADEQUATE treatment of the difficulties surrounding the valuation of mineral lands requires that agreement be first reached defining value as understood for the purpose of appraisal. To define value as the price of a product is not sufficient, and does not assist us in using the factors that cause variations in values and in relative values. The real value of any product depends primarily upon its relation to the necessities, comforts and pleasures of mankind. As the necessities, comforts and pleasures of the civilized races differ-from those of more primitive man, the value of products varies with the degree of civilization and the environment of the consumer. Coal has no value to the savages of warm climates, and arrow-head flint none to the residents of New York. It has long been recognized that what has. been termed ?intrinsic value " must be limited to materials that are essential to existence-air, water, food. But " intrinsic value " cannot be measured in monetary terms. The intrinsic value of a bushel of wheat is due to the fact that it will support the life of an individual for a certain definite time, but this fact does not enable us to measure or to express that value in monetary terms. It has often been proposed to adopt as a measure of the value of any product the quantity of labor necessary to produce it, but this method is of limited application, and will not apply to what may be termed " intrinsic values." For many reasons it might be well, while assenting to the fact that any material may be intrinsically valuable, to abandon the use of the term "intrinsic value." One of these reasons is the tendency to confuse the idea of " intrinsic value with a value that is conferred by economic conditions, that is purely artificial and that may be permanent or evanescent. Intrinsic value must from its nature be permanent and unchangeable.

Jan 7, 1913

By A. M. Nordale

Let us first trace a line, mentally, across Alaska and Yukon, starting at a point in the west slightly south of the delta of the Yukon river and from there continuing eastward, loosely following the 63rd parallel of latitude until we have passed beyond the eastern border of Yukon. We will make two pronounced digressions southward to include the greater parts of the Iditarod and Tanana River valleys. That visualized line roughly defines the southern boundary of permafrost. North of it lies a vast region, fully three-fourths of the area of the two territories, which includes Seward peninsula, the great Yukon River basin, and the tractless wastes of the Arctic. During some frigorific cycle in the distant geological past, the ground there was frozen to a depth of many hundreds of feet. How deep the frost actually penetrated is not known, but it has been found to exceed three hundred feet in many places. Nature afterwards provided a perfect insulating cover in the form of heavy moss and dense grass, which has protected the ground from the heat of the sun's rays during the intervening ages. This frozen condition has always been accepted as something indigenous to the North and little thought was given to -it until recently, when the United States Government and, I believe, the Canadian Government, began extensive studies of it, particularly in respect to its effect and bearing on the development of the great oilfields of the Arctic. Within this large region and but a short distance south of the Arctic circle are the three principal producing placer gold fields in the sub-arctic, whose hubs centre at Nome and Fairbanks in Alaska and at Dawson in Yukon Territory. The geological structure and history of the gold-bearing deposits of Dawson and Fairbanks are very similar and probably closely related. They are typical placer deposits produced by stream action during periods of erosion and inundation and subsequently covered with a thick layer of fine, powdery silt mixed with decayed vegetation which, locally, is termed 'muck'. The depth of muck varies from less than 10 to more than 250 feet, with the greater depth near the lateral edges of the valleys. The gravel underlying it is medium in size, well rounded, and composed mostly of quartz and schist. The proportion of sand or fines is approximately 40 per cent. No large boulders and little clay are found, for those districts, as well as that of Nome, have not been subjected to glaciation. The most common bed-rock found is either decomposed or hard schist, but infrequently it is slate, quartz, diorite, or a porphyry. The vertical concentration of the gold is invariably on bed-rock and in the lower few feet of gravel which overlie it. The horizontal concentration or paystreak is roughly parallel to the trend of the valley but does not ordinarily coincide with the course of the present stream. The width of the paystreak usually expands from a few feet at the head of a creek to several hundred feet near its mouth.

Jan 1, 1947

By John C. Smock

THE question of the proper valuation of mines of iron ore was suggested to me by the difficulties experienced in getting answers for the United States Census Office, while I was engaged in the work of collecting the statistics of mines in New Jersey and New York The answers to the questions relating to values of real estate of mine properties varied so greatly that it was necessary to revise them according to some general principles of valuation. Generally the returns of mine proprietors Seemed to be too low. There were, however, examples of what would be termed excessive valuation. The Subject appeared to be of practical importance, and led to the paper here presented. The following table of selected mine statistics is given, prefacing the discussion of the principles of valuation. It is in part made up of census returns and partly of data obtained directly from mine owners and managers. The mines which were Selected for the Several groups and mining districts include nearly all of those from Which the more full and carefully filled returns were received, and are also representative of their respective districts. Hence the averages obtained from them become good types of these groups or districts. The mines of New Jersey appear in Six groups, each containing from three to eleven mines, or, in all, thirty-four mines. The magnetic iron ores of New York are in four well-marked groups, and there are twenty-six mines in them. Then follow the red hematite mines of St. Lawrence and Jefferson counties; and, lastly, the brown hematite groups of Dutchess and Columbia counties, and those of the adjacent parts of Connecticut and Massachusetts. The whole number of mines represented by the table is eighty-eight, of which twenty-eight are hematite mines. The first column gives the value of the real estate; the second that of the plant; the third is the sum of these two, or the capital invested. Then follow the number of men employed, the amount of wages paid during the census year, and the value of materials used in mining and preparing the ores for market.* The seventh column gives the total expendi- * The value of materials is somewhat uncertain in many cases, as royalties are included under this head. Likewise, under wages, the cost of explosives and light is often included. Hence it is impossible to draw the line sharply between these items of expenditure.

Jan 1, 1882

Discussion of the paper of James R. Finlay, presented at the New York meeting, February, 1912, and printed in Bulletin No. 75, March, 1913, pp. 487 to .503. CHAIRMAN JOHN BIRKINBINE :-Having been invited to preside at this session, the Chairman feels that the part he takes in discussions should be limited, although the subject presented is one of much interest to him and there are diverse viewpoints concerning methods of valuing expectancies from what may be considered " ore in sight," a term itself subject to various definitions. Estimates of quantities upon which valuations are made may differ without subjecting the estimators to criticism of unfairness if made by a prospective purchaser or by a seller, or if they are used as the basis for taxation. The hopes of the seller may influence a liberal allowance for estimated reserves, while the expectancies of a willing purchaser are less optimistic, and the tax assessor is expected to limit his consideration to the producing capacity of a mine, with possibly modest allowance for reserves. The knowledge that a property contains or yields mineral or the expectancy that it may be a producer of value adds to the estimate placed upon it by any of the above classes, and a just determination of this value is often a complex problem.

Jan 5, 1913

By W. E. Roscoe

"Mineral exploration properties are those on which an economically viable mineral deposit has not yet been discovered. Such properties are bought, sold, optioned and joint ventured on the basis of their perceived potential for the existence and discovery of a viable mineral deposit. The intrinsic value of an exploration property is therefore based on the exploration potential. One measure of the exploration potential is the amount that can be justified to spend on exploration for a viable deposit.The appraised value method uses a cost approach to value exploration properties. It is based on the premise that an exploration property is worth the meaningful past exploration expenditures plus warranted future costs to test remaining exploration potential. Results of past exploration work are analyzed in order to retain only those past expenditures that are productive in terms of identifying remaining potential. Warranted future costs comprise a reasonable exploration budget to test that potential."

Jan 1, 2002

By William E. Roscoe

"Mineral exploration properties are those on which an economically viable mineral deposit has not yet been discovered. Such properties are bought, sold, optioned and joint ventured on the basis of their perceived potential for the existence and discovery of a viable mineral deposit. The intrinsic value of an exploration property is therefore based on the exploration potential. One measure of the exploration potential is the amount that can be justified to spend on exploration for a viable deposit.The appraised value method uses a cost approach to value exploration properties. It is based on the premise that an exploration property is worth the meaningful past exploration expenditures plus warranted future costs to test remaining exploration potential. Results of past exploration work are analyzed in order to retain only those past expenditures that are productive in terms of identifying remaining potential. Warranted future costs comprise a reasonable exploration budget to test that potential.INTRODUCTIONThe purpose of this paper is to describe a cost approach to the valuation of mineral exploration properties and to provide some valuation examples. The particular cost approach described is the Appraised Value Method, which is best applied to mineral properties at the exploration stage.At present there are no comprehensive regulations or guidelines in Canada which specify what approaches and methods to use for the valuation of mineral properties. In this paper, the Appraised Value Method described is one method that the writer considers to be accepted industry practice for mineral properties at the exploration stage.Mineral properties are valued for a number of reasons, including mergers and acquisitions, non arm's length transactions, pricing of initial public offering of stock, support for property agreements, litigation, expropriation, and insurance claims."

Jan 1, 2003

By Ross D. Lawrence

"Comparable transaction analysis is the best known of the market approaches to valuation of exploration-stage mineral properties. The analysis of option and farm-in agreements can also provide useful guidance to valuators. While such approaches can be distorted by incomplete analysis, market-based methods are capable of providing consistent, credible results when carried out carefully with due consideration paid to all factors which buyers and sellers consider when dealing in the real market.RÉSUMÉRoss D. Lawrence graduated from the University of Toronto with a B.A.Sc. (Applied Geology-1956) and an M.Comm. (Mining Finance-1959). As a student and following graduation, he worked across Canada on a variety of mineral exploration projects.In 1962, he was one of the founders of Watts, Griffis and McOuat, and has practiced as consulting engineer since then. For the past 20 years, Mr. Lawrence has headed up the WGM valuation practice, responsible for a group of professionals which has carried out scores of valuations of mineral properties and mining companies. He is a Certified Minerals Appraiser of the AIMA and an active participant in professional affairs.INTRODUCTIONMineral properties without defined resources present one of the most challenging tasks to the mineral valuator. You will hear from others at this conference about the use of cost and income approaches to the problem of valuing exploration properties. This paper will concentrate on market-based approaches. Market based-approaches are based on the principle of substitution and include such techniques as:??Comparable transaction analysis (sometimes referred to as sales comparison analysis).??Farm-in commitment analysis??Rules of thumbAre there any valuation standards available to assist the valuator? In Canada there are none that apply to the valuation of mineral assets or securities. This problem is being addressed, at least in part, by the CIMVal committee of the Canadian Institute of Mining, Metallurgy & Petroleum (CIM)1. Further, the recently established Canadian Association of Mineral Valuators will be giving consideration to the adoption of valuation standards."

Jan 1, 2003

By L. C. Raymond

Valuations in the mineral industry differ from those of other enterprises because mines and oil wells have a definite life so cannot be considered a perpetuity. This requires that in any mineral-property evaluation the recovery of invested capital is necessary during the life of the property. Capital write-offs for nonextractive industries are assumed to be continuously plowed back to sustain the operation and produce yields on the capital invested. The extractive or mineral industry, however, generally attempts to return to the investor both interest and principal during the life of a property. Normally this is done currently and the dividend includes both items. Where the mineral property possesses large reserves and the life factor approximates a perpetuity, the return on investment is generally comparable to that of industrial stocks. The valuation of a mineral property, at best, is based on educated estimates and judgment factors. This is particularly true as it relates to estimating selling prices over a long term or assessing the quality of management. Also, it is possible to make various assumptions as to rapidity of working out the deposit, varying time for start-up of operations, varying earning rates, so as to obtain different results with the same basic facts. Thus it is not surprising that two engineers, irrespective of their abilities, may not agree exactly even when given the same facts, but their results should be close enough to be used in establishing a fair value for trading purposes. The valuation is no better than the source of basic data and the soundness of judgment factors. Fundamentally the basic principles of mineral valuation are similar for base metals, sulfur, oil, or any other mineral. Each mineral, however, requires an engineer to have a knowledge of such factors as its occurrence, distribution, mining and processing methods, and marketing problems in order to gather and analyze all the facts and data that have a bearing on the earning potential of the property. Present Value of a Mineral Property In essence the present value of a mineral property is a sum of money in today's dollars that future income from the property are worth. It differs from the total anticipated earnings by the amount of the interest that the unrecouped investment could be expected to earn during the period of recoupment. Thus, if one could accurately estimate what a mineral property will earn during its life, after deducting all operating, administrative, capital, interest, and tax charges, the determination of present value would be a relatively simple mathematical calculation. Normally, where the expected life of the mineral property extends beyond 20 or 25 years, the discounted value of earnings beyond this period is relatively small. The petroleum industry generally discounts the annual cash flow of an operation rather than earnings since, for tax-saving purposes, earnings are kept

Jan 1, 1976

By William E. Roscoe

"Valuation methods are well established for mineral properties with production or imminent production, and include discounted cash flow and comparable transactions. Valuation methods for non-producing mineral properties, however, are more subjective. Non-producing mineral properties include those at various stages of exploration, properties at the prefeasibility or feasibility stage, properties with currently uneconomic mineral resources, and past-producers. Different valuation methods may be appropriate for different types of mineral properties.Income approach methods such as discounted cash flow and option pricing are generally not applicable to properties at the exploration stage. The market approach is generally appropriate to all types of mineral properties, although it is difficult to find good comparables because of the unique nature of mineral properties and the small number of transactions. Cost approach methods, such as appraised value and geoscience factor, are commonly used for exploration stage properties.Canadian standards and guidelines for valuation of mineral properties are in the process of being finalized by a Special Committee of the Canadian Institute of Mining, Metallurgy and Petroleum (CIMVal Committee). The CIMVal Standards are intended to be consistent with National Instrument 43-101, which sets regulatory standards of disclosure for mineral projects, and with International Valuation Standards. The intent of the CIMVal Standards and Guidelines is that mineral property valuation be carried out by appropriately qualified individuals and that all relevant information be disclosed."

Jan 1, 2003

By A. A. de Gast, R. B. James

"The metal content of ore blocks can be calculated by the use of many different methods. These methods range in sophistication from manual calculation to computer. oriented techniques. In this case a cubic polynomial regression model is developed to depict the grade distribution of an orebody. Mine production, in stope dimensions, is then simulated on a computer to predict the output of metal content. The volume, grade and variance of the grade are estimated by triple integration and matrix algebra. A case study shows reasonable agreement between the results from the mathematical model and the mine geologists' estimate of production and ore reserve grade and tonnage."

Jan 1, 1972

By J. H. Hill

The globalization of mineral markets and intense competition in downstream mineral-consuming industries such as transportation, agriculture, and construction are requiring raw materials suppliers to innovate, improve quality, invest in new technology, and control costs. Mineral specifications are becoming more refined, and pressure to improve products is felt from increasing numbers of competing producers, substitute materials, customers, and regulators. As a result, engineered mineral products are becoming more like manufactured ones in terms of cost structure, differentiation, and the importance of market driven, customer specific product development. Engineered mineral products are defined as those where the costs of refining and upgrading outweigh those of conventional mining activities (blasting, crushing, classification, haulage etc.), and where close control of physical and chemical parameters is required for customers' processing and manufacturing applications. This includes industrial minerals such as calcium carbonate, kaolin, mica, specialty oxides, talc, and some metal powders. It excludes most metals and bulk commodity materials such as gypsum, lime, sulfur, and soda ash. Engineered mineral products are utilized in common household goods, and are at the forefront of industrial materials engineering in plastics, ceramics, composites, glazes, coatings, and construction materials. As a group, they introduce interesting questions to the minerals firm. Advanced materials or basic? Diversify or specialize? What are the implications of advanced materials and for mineral markets, and most importantly, where can the producer look for long-term value, volume, and profits?

Jan 1, 1993

By Juan Camus

To understand why some companies excel in creating value, Jim Collins (2001) and a group of postgraduate business students engaged in a comprehensive, five-year research project. They examined 1,435 U.S. companies for more than 40 years, seeking those that made significant improvements in their financial performance over time. The distinctive pattern sought was: ?Fifteen-year cumulative stock returns at or below the general stock market, punctuated by a transition point, then cumulative returns at least three times the market over the next 15 years. ?The search identified 11 outperforming companies, all in different industries, that were called the ?good to great? companies. To contrast these companies with similar peers within the same industry, the search also selected a group of comparison companies that failed to make the leap from good to great. Collins then set out to examine the transition point. What distinguishing features did the good-to-great companies have that their industry counterparts did not? At the heart of the findings about these outstanding companies is what Collins refers to as the ?hedgehog concept? ? how to find the one big thing that the company must focus on. According to Collins, those who built the good-to-great companies were, to one degree or another, hedgehogs. Those who led the comparison companies tended to be foxes, never gaining the clarifying advantage of a hedgehog concept, being instead scattered, diffused and inconsistent. This insight is complemented by Peter Drucker (2004), an influential management guru, who asserts that the first question an effective executive should ask is: ?what needs to be done?? Asking this question and taking it seriously, he asserts, is crucial for managerial success; and that the answer almost always has more than one urgent task, but the effective leader only concentrates on one task. In this last respect, Drucker emphasizes: ?If they [executives] are among the sizeable minority who work best with a change of pace in the working day, they pick two tasks. I have never encountered an executive who is effective while tackling more than two tasks at a time.?

Jan 1, 2011

By J. M. Garcia

This paper highlights several management practices from the oil and gas industry to support the proposition that financial performance in the finite, non-renewable resource business relates more to upstream rather than downstream activities. Based on the analysis of nine oil and gas companies, this study supports a previous study involving fourteen mining companies that showed reserves growth is one of the main levers of value creation in mining. Interestingly, this study also finds that the oil and gas industry has been historically more profitable than mining. The reason, it is argued, is that oil and gas companies count on management practices that focus primarily on the upstream segments of the business, compared to the traditional downstream focus of mining. This paper delves into these ideas to conclude that what mining may need to improve its competitive advantage is a new organizational framework. Another conclusion is that the upstream management focus is vital not only for strategy formulation in the resource business, but also for policy formulation in economies based on the export of finite, non-renewable resources.

Jan 1, 2011

By Peter Faust, Jeremy Zorne, Timothy Siegel, Diane Fiorelli

Professional sport venue construction follows a very simple rule. Once the decision has been made to move the team to a new place, construction shall begin immediately, so that not more than one or two seasons pass by stuck in the old home. Such tight construction schedules require a different approach than traditional design-bid-build contracts. Design is mostly done on the fly, the construction schedule becomes a main risk factor and an early contractor involvement is desired. As specialty contractors become more and more sophisticated, owners, their construction managers or the general contractor have realized the value of ideas and modern technology they can bring to the table for a successful and fast project completion. Local knowledge and experience in a variety of solutions play a key role in the specialty contractor’s ability to provide added value to the project. This is also true for the specialty foundation contractor, who needs to understand the complexity of such modern structures from its integrate foundation, over the delicate concrete structure to a potentially fancy movable stadium roof. Not to mention all the modern high tech equipment which shall make such a place a great customer experience. His expertise shall enable him to propose the most suitable foundation element for the given ground condition and application. Rather to build what others have designed, his strength is to propose alternate concepts which will be faster and (hopefully) more cost effective. This paper highlights different value engineering (VE) input a specialty foundation contractor had on 3 major sports arena projects in California. Together with the entire team from owner to GC, including the Geotechnical (GEOR) and the Structural Engineer of Record (SEOR), the most efficient and best performing foundation solution can be found every time. But such an approach also requires the open mind of the owner to entertain last minute changes when the permit drawing set has already been submitted for approval.

Jan 1, 2018

By P G. Doig

Recent drops in commodity prices and economic uncertainty have seen many businesses re-evaluate their operational expenditure to ensure mine profitability. The high capital and operational cost of truck and digger fleets has resulted in loading and hauling of material being a significant proportion of a mine’s expenses (Nel, Kizil and Knights, 2011), thus it is often one of the first areas to be considered for cost reduction. If an operation requires additional trucks to maintain or improve productivity, a robust justification is crucial due to the expenditure involved.Mining schedules form the basis of productivity and cost estimations for mining operations and therefore must have a significant level of confidence with regards to achievable quantities and rates. Traditionally, a mining schedule is produced without detailed consideration of the trucking capacity or requirements. Although some mine planning software incorporates haulage predictions into schedules, most cannot model the dynamic nature of dumping and haulage. Previous studies have shown that it is necessary to have detailed haulage analysis instead of the traditional mining block centroid to dump block centroid methods for more realistic mining schedules and cost estimation (Doig and Kizil, 2013).Recent developments in software have allowed the dynamic integration of haulage analysis with mining schedules. Engineers can now create mining schedules in conjunction with dumping schedules, allowing mining schedules to reflect the restrictions created by the number of available trucks, combined with dynamic consideration of available in-pit and out-of-pit dumping locations.A study has been completed producing a mining schedule in conjunction with a dumping schedule and haulage analysis. Multiple schedules were run with various haulage strategies (including minimising rehabilitation liability) and truck availability to identify the impacts on coal production, and hence revenue. A financial analysis was then completed where a net present value (NPV) was calculated for each scenario. The study showed that trucking shortfalls can significantly impact mining schedules and cost estimations, both in terms of cost as well as revenue lost when trucks cannot maintain forecast production rates, thus dumping schedules and haulage analysis should be completed simultaneously. If dumping and haulage is not considered when planning the mining schedule, a mining business is ignorant to the impacts trucking has on the mine production, closure risk and profitability.CITATION:Doig, P G, 2014. Value impacts of truck limited scheduling, in Proceedings Life-of-Mine 2014 , pp 513–524 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Jul 16, 2014

By M Gill, A Mathias

The mining industry has always been cost-focussed but in recent times mining companies have moved towards obtaining a competitive advantage through the implementation and sustainability of best practice in the areas of improved safety, operating costs, quality and productivity. This is the concept of Value In Use û that mining companies see value generated all the way to the bottom line through improved change, and those changes become an established mine practice. Many mining companies do not have the resources or the knowledge to sustainably achieve such an outcome. This has led to companies looking to their suppliers to deliver measured value to their business through partnership arrangements. Suppliers have been able to leverage their knowledge of products, product applications and services to offer alternative supply agreements that bring greater returns to their businesses while improving supplier/client relationships. Orica has developed such a partnership with Coal & Allied in the form of a Continuous Improvement Program. Coal & Allied is based in the Hunter Valley region of NSW and is the largest coal producer in that region. Both parties are contractually bound to jointly deliver Value In Use projects to Coal & AlliedÆs Hunter Valley Operations and Bengalla mine sites. It is the request of the Orica and Coal & Allied Steering Committees that this paper does not include the details of actual projects or the costs or key performance indicators associated with the program. This is to maintain the competitive advantage to both Orica and Coal & Allied through the implementation of such a program. It is in the writersÆ opinion that this paper does not lose any significance through this restriction as the most important component of the Continuous Improvement Program is not the projects themselves but the methodology behind them. With this in mind the paper will discuss the development of Value In Use offerings, the key aspects of the Coal & Allied and Orica joint program, what is a Value In Use project, how to measure its value, finally why and even more importantly what makes this program is a success.

Jan 1, 2004