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Project-finance risk assessment is mature and approached systematically. Mining industry due diligence remains fragmented with specialists addressing different aspects of the project such as reserves/JORC, environmental impact, commodity market, even financial analysis/ modelling. Each professional has a natural tendency to believe that the risk factors they have examined are the key ones necessary to be reviewed, as if their review will stand in isolation from others in the way a project materialises. By first laying out the project risk categories and risk matrices, this paper examines the due diligence process with a keen eye to the risk assessment and overlap/interaction. Some cross fertilisation of due diligence techniques from other industry sectors is placed into the mining context. Six case studies are then presented with regards to due diligence features in each projectÆs feasibility review or financial information/ offering memorandum. A power case first shows the differences between the due diligence expectations of banks versus bond financings. Then some Australian and Indonesian mining development cases are analysed to see the due diligence learning points. Some of these were project/due diligence failures. The conclusion focuses on the value of a systematic risk assessment for project evaluation, all from the project-finance perspective.

Jan 1, 2007

In recent years there have been many changes in mine ownership due to the on-going rationalisation towards larger mining companies. Larger companies inevitably find it hard to manage small mining operations and in many cases smaller mines do not fit corporate resource, production and profit criteria. Smaller companies are more suited to managing these medium or small scale mines and are tendering for the purchase or lease of mines that larger companies wish to dispose of. In addition to these factors there has also been a trend (especially in Western Australia) for mines to continue operating at ever increasing depths. This in turn has led to more mines operating in high stress environments and experiencing damaging seismicity. Assessing the viability of seismically active mines from a takeover or purchase point of view should involve analysing the risk profile of every aspect on mining that could be affected by adverse seismicity. This includes assessing current and alternative mining methods, mine designs, support systems, extraction sequencing, monitoring and blasting. This paper includes discussion on items that need to be assessed when considering the purchase of seismically active mines, with experience gained from some recent studies in Western Australia. In these cases it was apparent that quantification of previous seismic history on itÆs own was a totally inadequate method of assessing minewide seismic risk potential. A more holistic approach is required, taking into account all aspects of relevant data, all the minewide effects of seismic activity and all possible means of mitigating those effects.

Jan 1, 2002

By A. L. W. Lips, B. P. J. Stevens, T. J. R. Barclay, E. Rothery, S. H. White

Discussion by B.P.J. Stevens of the paper, published in Trans. IMMA, vol.104, 1995, p.B1-B17, is presented together with the authors' response. Stevens questions the authors' radically different interpretation of the structural geology of the Broken Hill Block, considering that the descriptive part of the paper is a useful addition but that the conclusions are unwarranted on the basis of the data presented. A number of major points of disagreement are outlined and half a dozen additional minor points listed. In response, the authors admire Stevens's contribution to unravelling the geology of the area but defend their attempts to take the regional studies a step further, pointing out that he has misquoted what they wrote and arguing that because of the assumptions underpinning the derivation of the present stratigraphy it cannot be used to constrain structural models. With regard to shear zones, they cite the extensive earlier literature and refer to horizontal displacements shown on maps produced by Stevens et al. Detailed discussion follows of the stratigraphy and of the stratigraphic correlation problems resulting from failure to recognise the presence and significance of shears, particularly those parallel to stratigraphy. The remobilised position of the Pb mineralisation in the North Mine open cut is reiterated. It is concluded that there is an urgent need for systematic isotopic dating in the area to constrain the stratigraphy

Apr 1, 1996

By John Hays, Hammond

IT is both a pleasure and an honor to be a guest of the Institute and I thank you, Mr. President and fellow-members, for giving. me the opportunity of meeting you this evening. My esteemed friend, President Smith, has requested me to do a bit of "reminiscing" as to the earlier years of my career as a mining engineer, which has now covered a period of fifty years. Let me reassure you by promising that my narrative will not include all the experiences I have had over that long period. You will, I trust, pardon what might seem egotistical but I do not see how a personal narrative could well be otherwise.

Jan 1, 1928

By H. C. Boydell

Introduction Situated in the district of South Lorrain, some 16 miles southeast of Cobalt, Ontario, and reached from that centre either by branch line of the T. & N. O. railway or by what, for a mining camp, is a reasonably good road, the Keeley mine, owned by the Keeley Silver Mines,' Ltd., has had its history recorded by C. W. Knight (1). Silver was first discovered in South Lorrain, in Woods' vein, on Keeley property, in 1907, and the Keeley mine has been described by Knight (2) and Bell (3). The total production to February 28th, 1930, has been 10,760,107 ounces of silver and 1,285. 434 pounds (weight) of cobalt.

Jan 1, 1931

By G M. Taylor

The application of high technology to monitor and control fire life safety, critical functionality in tunnels and underground spaces generally has progressed at an ever accelerating rate over the past decade. Today these systems comprise some of the most complex and little understood aspects of the tunnel/underground facility construction industry, with this area being perceived as high risk comprising impenetrably complex ‘black box’ technology covered in blinking LEDs. This paper will seek to explode some urban myths and common misconceptions associated with such systems, providing its intended audience with a review of what all this technology comprises and where the real risks lie in its delivery lie.The author contends (and looks to support such contention via this paper) that by applying baseline project and risk management processes to the procurement of this widely misunderstood black box technology, the quality of the final outcome can be much improved, driving innovation, reducing both cost and significantly mitigating delivery risk.CITATION:Taylor, G M, 2014. Procuring control and intelligent traffic systems for major new build projects – avoiding pitfalls and maximising value, in Proceedings 15th Australasian Tunnelling Conference 2014 , pp 113–120 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Sep 17, 2014

By Sidney Katell, JOHN H. FABER, BRYCE L. MADDOX

The information abstracted from the various publications appeared in the magazines under such headings as Business and Industry , Chemical Engineering Developments , Companies in the News , Headlines of the Month , Industrial News , Industry , Refining and Gas - Processing News , Refining News , What's Happening , and others . Although most items are related to chemical and petroleum plants , a few pertain to related fields , such as markets , drilling costs for petroleum , and field prices of crude oil . Certain articles discuss various aspects of cost -estimating procedures or description of processes . Cost bibliographies prepared by other groups are discussed in items 70 and 271. The two references can be considered as supplemental to this report , since the amount of overlap in the contents is insignificant .

Jun 15, 1957

By Gino Palarchio

Dofasco is Canada?s 2nd largest steel manufacturer producing 4.5 million tons of flat rolled steel per year. They have revenues of over $3 billion and employ 7,000 people in their Hamilton, ON plant. Dofasco is North America?s most profitable steel producer and were recently ranked as the #1 steel maker in the world by Dow Jones. Motivation to Improve In the 1980?s the steel business was good. However, in the late 80?s and early 90?s things began to change. Globalization was beginning to influence the market, imports started arriving at lower prices and higher quality, hangover from the 1970?s inflation saw costs rising and prices dropping, there was a shift from a sellers to a buyers market, and shareholder returns were beginning to erode. Dofasco took a step back and evaluated their maintenance performance and found that they were operating in an environment where 70% of their work was reactive and only 30% was proactive. They also found that the rate of product quality improvement was flat and their average equipment availability was only 78%. At that point they realized that Equipment Reliability was key to improving product quality, production output, costs and shareholder return. They initiated a project to research, develop, and implement the most advanced maintenance practices and information technologies to achieve maximum equipment reliability.

May 1, 2001

The role of the mine geologist in a business perspective is self-evident to some, but to others it may be a new concept. All mine geologists need to know exactly how they add value to the business if they are to be successful. Alternatively, if they do not add value, then they will become redundant. This paper seeks to understand some of the contributing problems that hinder the mine geologist from operating in a business perspective. In doing so, a new context (for some) is proposed to aid the mine geologist and the operation gain greater value from geology. The proposal suggests how to ensure that the activities of our geologists are intrinsically linked to the business process that we are involved in. The mine geologist can and must play a pivotal role in the success of an operation. To do this, they must understand some principles of business such as:process, customer/supplier relationships, and organisational structure. Our geologists must know the business objectives, understand the product that the customer needs and use their geological skills to deliver the product safely, on time and to specification. As geologists, we can be instrumental in ensuring that the operational environment is structured in such a way that maximum value is realised, not only from the mine geologists but the entire site team. In doing so, mine geologists will realise their full potential in delivering the outcomes the business demand, and therefore be recognised as strong contributors to business success.

Jan 1, 2000

By G Fakes

This paper describes the history of civil engineering tunnelling and developments in soft ground techniques during the 19th and 20th centuries, culminating in the design and use of high speed tunnelling machines for all types of ground conditions. Some of the problems encountered are outlined, and descriptions are given of some contemporary developments in rock tunnelling techniques, with comparisons of methods used in the mining industry.

Jan 5, 1996

By WILLIAM SLOAN

B RITISH COLUMBIA in its mining activities is going ahead by leaps and bounds both in development and production. Mineral production for 1925 was $61,492,242 in value as compared to $48,704,- 604 in 1924, or an increase of about 26.2 per cent. This is a new record. It is the first time in the history of mining in British Columbia that we have gone over the fifty million mark. But we have got in the habit of making new records. The year 1924, with its mineral production of almost forty-nine million was a new record. And I am confident that when the mining history of 1926 is written it will be found that we have established yet another new record and that we can report another 25 per cent increase over 1925. What is the explanation? It is not only that the world is settling down, and settling up, after the war. It is not only that in the rebuilding, the refashioning in which all nations are busily engaged, the metals that come from our mines are needed. More than anything else, at least as far as we are concerned, it is because British Columbia has the resources and the fact that the province has been fortunate in recent years in finding men with the enterprise and the vision required to push ahead the labor of their development. From the ranks of our own people in Canada we have prospectors who have faith, energy and requisite knowledge. They are combing our hills season after season and they are of the type of manhood that does not know the meaning of the word quit. More and more these men are learning the importance of the guidance furnished by geological reports, and to an ever increasing extent such reports, thanks to the valuable work of the Canadian Geological Survey, covering areas little known to man, are made available to them-but it is recognized that in the opening up of our Province, containing within itself 372,000 square miles, it is essential that we should have the cooperation of our cousins on this side of the line as well as of our fellow citizens of the Dominion and of the Mother Country.

Jan 1, 1926

The global mining industry will always face significant challenges. Some, though, are bigger than others. What do you consider the major challenges facing the mining industry as a whole and SME in particular? Without a doubt, the major issue in both coal and metal/nonmetal mining industries is the ?graying? of the workforce in all aspects of mining. As the baby boomers continue to age, valuable experience is being lost by industry, government and academia. And there is the potential for SME to lose some of its membership. Now with that said, I should note that, despite the aging of the workforce, SME membership continued to grow by 7.1 percent during 2011.

Jan 1, 2012

By E. J. Roberts

Prior to 1916, thickening was an art, and any accurate decision as to what size of machine to install to handle a given tonnage of a specific ore must have been one of those intuitive conclusions, based on both intimate and extensive acquaintance with thickners and ore pulps. Then in 1916 "knowledge of acquaintance," became "knowledge about" with the publication of the Coe and Clevenger paper.' The unit operation of thickening had graduated to the status of an engineering science. The fundamental similitude relationships for the two major phases of the operation were defined so clearly that batch tests on models as small as liter cylinders could serve to specify protypes as large as 325 ft in diameter.

Jan 1, 1949

By Edward H. Robie

PONCA CITY proved an ideal selection as a place of meeting for the Petroleum Division this fall. The accommodations at the Conoco Club were just what was required for such a gathering; the committee having the arrangements in charge functioned with the efficiency of veterans and the enthusiasm of neophytes; and the members and guests followed the speakers with close attention, entered the subsequent discussions with gusto, and divulged the "low-down" at private conferences. No one minded the drizzling rain on the first day, which only served to keep up the attendance in the auditorium; the weather then cleared up in time for a group picture before the gathering went their separate ways.

Jan 1, 1932

By T. A. Rickard

Flaubert, as we know, laid stress on the selection of the right word, le mot juste, the precise epithet, the word that belongs to the thing. A sentence, or even a paragraph, may be spoiled by the use of a word that is not proper, that does not fit or is foreign to the meaning intended. An Australian mining expert is reported to have said: You have a property of considerable value, and what I saw warrants a good development of very rich cubicular galena, with gossan intermixed. 'Cubicular' means `belonging to a small bedroom', a `cubicle' being a sleeping compartment. He meant `cubic', of course. This is a malapropism, and reminds me of the lady from Chicago that, on her return from Europe, said how much she had enjoyed the rural parts of France, because, among other things, it was "so delightful to hear the French pheasants singing the mayonnaise to the tune of the Los Angelus". It is impossible to amalgamate coal-tar thoroughly with the pulp in the agitating-tank. In metallurgy, `amalgamate' refers to the combination of mercury with one or both of the precious metals, forming an amalgam, which is an alloy of mercury with another metal. It differs from other alloys, such as brass or bronze, in being made without the aid of heat, inasmuch as mercury is molten at the ordinary temperature. The word comes to us from the Greek. through Old French and means `something soft'. It is a mistake to use technical terms, having a specific meaning, for purposes that are foreign to that meaning. The writer of the quotation is not discussing any combination of metals; he is dealing with the physical process of mixing and is using 'amal-

Jan 1, 1931

By R. L. Wooten

When discussing what Coal Mine Safety in the future will be, it is important to examine three areas which at present provide significant parameters to the industry. These three areas are: 1) Safety improvements in mining equipment; 2) Labor-management relations; and, 3) The politics of coal mine safety. EQUIPMENT Over the past several decades significant safety improvements have been made in the types of equipment now in use in most operations. Many of these improvements have evolved through mandates from either the U. S. Bureau of Nines, MESA, MSHA; and in some instances, the states. Cabs and canopies are examples of federal mandates while the use of ATRS initially was a state mandate.

Jan 1, 1985

By E. A. Barrett

The U.S. Bureau of Mines (USBM) conducted experiments to determine if training using a latent-image, three-dimensional (3-D) slide simulation exercise improved miners' ability to recognize roof and rib hazards. The effectiveness of this innovative type of classroom training was investigated by measuring workers' performance on a hazard recognition task. The study was unique in that hazard recognition skills were assessed in the workplace using actual coal mine roof and rib hazards. Results showed that training with a latent-image, 3-D slide simulation exercise significantly improved each subject's performance on the in-mine hazard recognition task. Further, the USBM researchers concluded that transfer of learning from the classroom to the workplace occurred.

Jan 1, 2010

By Alfred C. Lane

Reference to the original use of the terms Laurentian and Huronian (and its extension), shows that the former was applied to granitized sedimentary and metamorphic pre-Cambrian rocks, and the gneissoid igneous rocks associated therewith, and the latter to non-fossiliferous rocks supposed to be later. But it appears from the work of Collins, Quirke and others that there is more or less of an overlap, and that of the original Laurentian the Grenville limestone, and some of the granites, may be later than the lowest part of the original Huronian. Before we can decide whether to abandon one or the other of the two terms, or how to delimit them, it is important to know the extent of this overlap. The Pb :U ratio, though not to be depended upon too minutely, does give a real idea of the age of a mineral as it increases with the decay of uranium, and so is greater the longer the time since the uranium was separated: and there are reasonable prospects of help there from in getting a knowledge of the relative age of different granites to assist in solving the problem, as facts already collected show. 1. Historical review of the use of the words Laurentian and Huronian: 2. Difficulty encountered: 3. Popular account of atomic disintegration: 4. Methods of estimating age by it: 5. Applications.

Jan 1, 1925

By O. Schnake, M. Isakson, C. A. Landolt

The paper presents the conceptual basis for the development of an Activity Based Costing system (ABC) for the analysis and estimation of process costs in mining and metallurgy. In particular, it discusses three major thrusts towards attaining increased efficiency in extraction and processing systems: (a) understanding the link between process and expenses, (b) identifying the chemical and physical factors that govern process costs and ( c) using process and cost models of the production systems. The authors have developed computer techniques to analyze data from conventional accounting and apply them to the development of process based ABC systems. The cost causing activities are linked to management units patterned after the organizational structure of the production system. All costs are associated with specific process functions such as charge preparation, smelting, refining, etc. The level of detail is determined by the quality of data available in conventional accounting systems. The system permits data analysis of historical cases and the projection of costs for new production schemes. Results can be presented in various levels of aggregation, following organizational and/or functional structures. The outputs of the system are tabular and graphical, typically following Pareto analysis concepts.

Jan 1, 2007

By A. Lane

Africa is ripe with opportunity for the mining industry. The continent has large, and relatively unexplored mineral deposits, and recent high economic growth rates have meaningfully improved the political, economic, and infrastructural environments. However, these opportunities are accompanied by significant risks, including resource nationalism, uncertain regulation, corruption, and continuing political instability (up to and including war). Forward-looking companies actively manage these risks by creating a sense of shared purpose with the countries and communities that own the resources, using tools such as stakeholder analysis, local narratives, scenario planning, and constituency engagement. They also measure socio-economic impact to insure the creation and demonstration of shared value.

Sep 1, 2012