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Banks' focus in using cash flow methods can differ markedly from that of equity investors. This paper attempts to explain and describe bankers' approach by: ò outlining the fundamental difference between banks' and investors' risk / return profiles. ò describing lenders' consequent use of cash flow methods in mineral valuation. areas. explaining lenders' specific treatment of key risk Fundamental to understanding banks' appraisal of mineral projects is the appreciation that lenders have a basically different risk profile and outlook from those familiar to equity investors. Lenders do not normally participate in any project upside. The economics of lending dictate that banks can only accommodate a low probability of loan default and consequently banks' principal focus in mineral ""valuation"" is ensuring an acceptably comfortable probability of debt repayment. A simple conceptual explanation of lenders' risk / return position is outlined.

Jan 1, 1994

By A. Paviani

The subject of this session is "Equipment Installa­tion, Recent Developments". This is a subject which is not usually addressed at conferences of Foundation Engineering. It is rare to find sessions dealing with the technological side of deep foundations, a subject which only recently seems to have aroused sufficient interest at national and international conferences. It is therefore natural for the subject of "Equipment", or the tools used to implement the various "technologies", to be over­looked or mentioned only occasionally during the discussion of other issues. At conferences, most of the attention is attached to research and to the theoretical interpretation of the performance and behaviour of deep foundations, as well as to establishing the most suitable calculation algorithms and approaches for the study, design and control of foundation structures. It is almost as if the subject of equipment is felt to be less important or, perhaps, that it is considered to belong more strictly to mechanical engineering than to civil engineering.

Jan 1, 1994

By J. C. Haptonstall

The Bismark Mine is located in northern Chihuahua, 150 km southwest of Ciudad Juarez. The ore deposit was discovered in 1979, and was placed in production in 1992. The production rate is about 2400 tpd from an ore reserve of 8.5M tonnes. Grades average about 8 % Zn, 0.5 % Pb, 0.2 % Cu and 50 g Ag per tonne. Substantial inflows of water into the under-ground mine complicate the operation. Complex metallurgy poses another challenge for the operators. Bismark was operated through a joint venture, Minera Bismark, S.A. de C.V., with U.S. and Mexican partners, but since early 1993, it is wholly Mexican-owned and operated.

Jan 1, 1994

By D. Shuck

Incorporation of a 2,727 mtpd, $5.7 million flotation circuit into the Mclaughlin flowsheet was completed in November 1991. This capital addition reduced overall operating costs and improved the gold recovery of the low grade refractory reserves over that expected for direct cyanidation. In addition, flotation provided a means to generate a sulfide concentrate which is utilized to supplement feed to the pressure oxidation circuit.

Jan 1, 1994

Kalgoorlie Consolidated Gold Mines Pty Ltd is currently developing the 'Super Pit' gold mine in the mining area known as the Golden Mile adjacent to the city of KalgoorlieBoulder, Western Australia. The presence of numerous abandoned mine workings and complex structural geology has required considerable geotechnical input into the determination of the optimum pit slope geometries for both interim and ultimate pit slopes. Slope design is based on detailed site investigation and stability analysis which is balanced with historical operational experience. This paper discusses the process of determining the optimum pit slope angles for each of the stages of the west wall of the 'Super Pit'. The risks associated with slope instability are discussed for each stage.

Jan 1, 1994

By D. Crouse

A significant wollastonite resource has been discovered and evaluated near Seeley's Bay in southeastern Ontario. The deposit occurs in Grenville Frontenac Terrane granulite facies rock within a calc-silicate skarn in contact with Proterozoic-age gabbro. The steeply-dipping and tightly-folded wollastonite skarn beds are interlayered with diopside and quartz-feldspar skarns in a southwest-plunging synclinorium. More than 9 million tonnes of a drill-proven and inferred resource grading 41 % wollastonite has been identified, as well as an additional 3 million tonnes grading 30%. Mineralogical and process test work with the wollastonite from this deposit has demonstrated the potential to produce a high purity, high aspect ratio wollastonite product.

Jan 1, 1994

By B. De Paoli

At Pietrafitta, between Assisi and Perugia, ENEL (Italian National Electricity Authority) has for some time been managing a power-station operated with lignite, mined from an open mine on the way to exhaustion. A new plant is under construction which is located in the mine that was filled with tailings, mainly clays, sandy silts, lignite and ashes produced by the power-station. The soil profile is shown in Fig. 1: the thickness of the made ground is around 27 m. The foundation of the new power-station is on 320 t piles, 1.20 m diameter, embedded in the cohesive base formation at a depth of 57.5 m. 2,350 piles will be constructed for a total length of 125 km. It is therefore one of the largest pile sites at present in operation in Italy. [ ]

Jan 1, 1994

By Harper F

This paper outlines the authors' views of the methodologies which can be employed to value mineral properties at different stages of development for the purposes of project financing, mergers and public floats. This paper discusses the key issues in Discounted Cash Flow (DCF) analysis including the importance of data verification and the shortcomings in DCF analysis. Stockmarket valuation measures and valuation methodology for exploration and pre development projects are examined through examples and pitfalls are identified. The use of valuations in corporate transactions and their strategic value is also discussed.

Jan 1, 1994

By Thomas A. Wheeler

The reagents commercially used in coal flotation and their roles are reviewed and discussed According to their function the reagents are divided into often overlapping groups: 1. Collectors 2. Frothers 3. Conditioning Reagents Frothers have by far the largest effect on the amount of coal recovered They act not only in their traditionally accepted function of “bubble makers”, but in coal flotation they serve in a seldom acknowledged role of collectors. A lab flotation study on four samples of different coal ranks shows how these react to various frother families and proves that no froher is the optimum reagent for all types of coal. The advent of new technology in flotation equipment in the past decade has resulted in various novel designs of column cells, Jameson and Centrifloat™ cells, air-sped hydrocylones, etc. All should require special frothers or blends of frothers to meet their specific needs.

Jan 1, 1994

Mt Todd lies towards the south end of the Pine Creek Geosyncline, sandwiched between the Cullen Batholith and the Edith Falls Basin, in an area of regionally metamorphosed sandstones, siltstones and shales. The Batman deposit, some 3 km west of Mt Todd is a sheeted quartz vein system hosted within greywackes of the Palaeoproterozoic Burrell Creek Formation (Finniss River Group). The gold-bearing quartz veins, trending 010¦-020¦ and dipping 60¦-70¦E, are commonly 0.5 to 5 cm wide and occur at intervals which are from 10 cm to 1 m apart. Gold tends to be restricted to the quartz veinlets and immediately adjacent country rock. Grade Control utilises two 4 m 'collar' samples which are collected from each 8 m production blasthole. The irregular distribution of the quartz veins and erratic gold mineralisation has resulted in a disseminated 'salt and pepper' type of gold occurrence, with only a poorly defined footwall. Delineation of ore and waste blocks for mining uses an approach which combines the smoothing effect of kriging with a pragmatic view of the raw data. Large ore blocks with simple geometry help to minimise mining dilution, reduce block variance and give good reconciliations to interpreted ore tonnes and grade. Daily mine face advance is reported against truck counts and provides continual comparison with budgeted production. All data processing uses Gemcom software, together with Lotus spreadsheets.

Jan 1, 1994

Quality Assurance has become a buzzword amongst governments and industry. Notwithstanding the world class work done by its committees in developing codes of ethics and of practice in field geological handbooks, mining cost estimation handbooks, and reserve estimation, the AusIMM could better prepare its membership for QA. MICA could provide a simple set of guidelines to enable consultant members to develop their own QA procedures manual conforming to AusIMM Codes and to IS09003, and AS3903.

Jan 1, 1994

The first steps towards the use of artificial intelligence to manage ground conditions have been made. Millar and Hudson (1993) outline the theory behind the use of neural networks in monitoring rock engineering performance.

Jan 1, 1994

By J Kokado, N Hatta, S Yabushita

A theoretical model is described for prediction of the capacity of fines from porous ores, such as cokes and sintered ores, to be removed by a pneumatic, horizontal-type classifier prior to charging into a blast furnace. First, the influence of variation in the apparent density and drag coefficient of porous ores on removal efficiency is analysed from a stochastic standpoint. The effect on efficiency of collisions between particles in the classifying region is then examined analytically in relation to the ratio of the mass flow rates of particles and air (the loading ratio). Finally, a theoretical model is constructed that takes these factors into account. Theoretical and experimental results are compared and classifying efficiency is discussed from both experimental and theoretical viewpoints.

Dec 1, 1993

By José Adachi

La ventilación de minas es un proceso relacionado a la dinámica de la mina que genera el acondicionamiento del aire circulante a través de las labores subterráneas. Como tal, los requerimientos de la mina se adecúan de acuerdo a la estructura física de la misma. En consecuencia, no existe un sistema de ventilación estático puesto que los sistemas requieren de constantes monitoreos y ajustes para alcanzar una ventilación óptima. Así, el presente trabajo señala los aspectos importantes del diseño de ventilación principal de la mina Condestable realizado entre el período de 1992 y 1993 por encargo de la compañía minera. La metodología empleada comprende mediciones de campo y el cálculo de requerimientos del caudal. Asi también está la construcción del modelo de red de ventilación y el diseño del nuevo ciricuito con ventilación forzada.

Nov 24, 1993

By Juan Zegarra Wuest

El presente trabajo evalúa las características químicas de los drenajes en la mina Quiruvilca a través del estudio de dos usos: la recuperación del cobre por extracción con solventes y cristalización de sulfato de cobre de alta pureza en reemplazo del proceso de sustitución y el proceso de la flotación selectiva del fierro. De forma que se recupere los valores y productos residuales para mejorar la eficiencia integral de las operaciones minero-metalúrgicas y así alcanzar un equilibrio con el medio ambiente.

Nov 24, 1993

By Luis A. Sumari de la Calle

En la última decada, las empresas mineras necesitan modernizar sus operaciones aplicando métodos de minado productivo, con diversos grados de mecanización, a fin de lograr un nivel competitivo en el mercado internacional. En ese afan de mecanización, las excavaciones subterráneas adquirieron dimensiones considerables y generaron problemas de estabilidad. En ese sentido, el presente trabajo señala un modelo de análisis, donde se determina cuáles son los bloques con posibilidades de movimiento hacia la excavación, así como el uso de las proyecciones estereográficas a través del diagrama de Wulff y construcciones complementarias de proyección.

Nov 24, 1993

By Calzado P. Luis E.

El presente estudio describe el comportamiento de un residuo de lixiviación bacteriana al tratamiento de lixiviación ácido-clorurante con el fin de extraer el contenido de plata. En este sentido, los parámetros que tienen influencia sobre la eficiencia de lixiviación son la granulometría y la temperatura de solución. Asimismo, la evaluación de las transformaciones desarrolladas en el material se realizó a través del microscopio electrónico de garrido y y en base a los argumentos del orden mineralógico, se evidencia que la limitada extracción de plata se debe a las fases estables de las condiciones empleadas por la ocurrencia del cobre gris y un mineral complejo de hinsdalita con contenidos de plata.

Nov 24, 1993

By J. Thiriar

The electrolytic tan/chouse at CCR was recognized by management as lagging behind modem refineries in terms of productivity, energy efficiency and controls. The operation was also burdened by high maintenance costs of cells, floors and electrolyte recirculation systems. A bench marking program was started in 1986 to evaluate processes and other technology by visiting major copper refineries in North America, Europe and Japan. The basic principles necessary to optimize the operation were defined, and a program called CCR 2000 was prepared for approval of the necessary capital investments. This paper describes the results obtained to date and outlines the remaining work to complete the modernization program, in particular, the control of electrolytes, the elimination of the Baltimore groove and studies to modernize the stripping operation or adopt permanent cathode technology.

Jun 1, 1993

By A. M. Salomon de Friedberg

With respect to impurities, HBM&S' copper smelter, located in Flin Flon, Manitoba, is in an unusual position. In addition to the usual concerns, the fact that copper and zinc production at Flin Flon is closely integrated results in the unique situation where feed to the copper smelter typically contains 7% to 8% zinc. This paper discusses the ramifications to copper smelter operations resulting from the marriage of HBM&S' metallurgical plants. Distributions of impurities (specifically Zn, Pb, Ni, As, Bi, Sb, and Cd) are presented and operating practices designed to reduce the impact of impurities on anode copper quality are detailed.

Jun 1, 1993

By P. Favreau

This paper describes the progress accomplished at the Noranda Technology Centre in the field of three-dimensional computer-aided underground blast design. Traditional methods of laying out underground blasts are reviewed, and the new computer-aided approach is described. Time savings achieved through the use of BLASTCAD can be advantageously used to better engineer blasts, using models and blast vibration analysis. Future work involving the attachment of blast models directly to the system is also addressed.

Feb 1, 1993