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By Kyle Wightman

INTRODUCTION CRA Limited is the largest mining group in Australia by value of sales and the second largest company in Australia in terms of share market capitalisation. In the past 25 years, CRA, its predecessors and affiliates have been involved in a number of mining and further processing developments in Australia and elsewhere. Many of these have been financed using project financing techniques. These include Comalco's development of the Weipa bauxite deposits in Northern Queensland in the late 1950's, the Hamersley iron ore developments in the Pilbara region of Western Australia in the mid 1960's, the Queensland Alumina Limited alumina refinery in Gladstone, Queensland, at about the same time, and the Bougainville copper project in 1969/70. In the past three years CRA has again utilised project financing techniques to fund its Tarong steaming coal project in Queensland, the Blair Athol steaming coal project also in that State and CRA's interest in the Argyle diamond project in the Kimberley region of Western Austrlia. PROJECT FINANCE DEFINED Nevitt Definition Nevitt's is the most frequently quoted definition - "A financing of a particular economic unit in which a lender is satisfied to look initially to the cash flows and earnings of the economic unit as the source of funds from which a loan will be repaid and to the assets of the economic unit as collateral for the loan." Risk and Balance Sheet Treatment It is important to focus in more detail on two aspects of project financing, risk and balance sheet treatment. The assessment of the various elements of risk in a project and the sharing of that risk between sponsors and lenders is the most critical feature. At one end of the spectrum is full absorption of risk by the sponsor(s). This can be described as "on risk" or "on credit" or "full recourse" to the sponsor(s) and is effectively a corporate financing. At the other end of the spectrum the lenders absorb the whole risk in a non-recourse financing which is "off risk" or "off credit" for the sponsor. The other aspect is the sponsor's balance sheet treatment. If the balance sheet of the economic unit undertaking the project and the financing need not be consolidated into the balance sheet of the sponsor (because ownership does not exceed 50%) then the financing may be described as off-¬balance sheet. If consolidation is required then the financing is described as on-balance sheet. Most project financings involve some recourse to the sponsor, i.e. they are limited recourse. Very few are non-recourse or off credit to the sponsor. Limited recourse financings may be on-balance sheet although many may also be off-balance sheet insofar as consolidation is concerned. However, sponsor support may very well be a contingent liability to the sponsor and require disclosure by way of note to the balance sheet should consolidation not be required. CORPORATE FINANCE CONTRASTED A financing which is on credit or full recourse to the sponsor, whether it is directly borrowed or guaranteed by that sponsor, is a corporate financing. Lenders will tend to base their credit assessment on a historical assessment of the sponsor's activities and its financial results rather than an assessment of the project or a detailed assessment of the future activities and prospects of the sponsor. PROJECT FINANCE - A BORROWER'S PERCEPTION Although CRA could choose to arrange all finance on a corporate basis (except perhaps for the very largest projects or acquisitions), project financing techniques provide a number of specific advantages which CRA has noted and which should be carefully considered by a project sponsor. Advantages

Jan 1, 1985

By Harold Kennedy

Take a good look at this issue of Minerals and Materials. This is the last issue of M&M, as it has been known within the U.S. Bureau of Mines, that you will receive. Fifteen years after it was created to help cope with a growing worldwide mineral shortage, M&M is ceasing publication. In its place will be a bright, new publication called Minerals Today. Like its venerable predecessor, Minerals Today will be a bimonthly magazine that reports on recent trends and issues in the minerals and materials industries. It will be the Bureau of Mines' most frequent periodical presenting an overview of the entire field of minerals and materials.

Jan 1, 1989

By C. P. Bowie, George L. Gates

"INTRODUCTION Experience in drilling oil and gas wells has shown that the voidance of blow-outs, twist-offs, fishing jobs, loss of circulation, and heaving and caving of shale formations into the drill hole depends largely on how well the drilling-mud fluid serves its purpose. A possible method for the control of the drilling fluids may be seen from a study of the relation between the particle-size distribution and some of the important drilling-fluid properties, such as the ability to build quickly a relatively impervious mud sheath on the wall of the hole in the porous formations penetrated by the bit during drilling operations. In a wartime economy, which urgently requires conservation of steel, proper functioning of the drilling fluid is particularly important because, as Parks 4/ has stated, intelligent use of good drilling fluids makes possible drilling of wells for thousands of feet in open holes without the necessity of setting protective strings of casing to control the movement of salt water, gas, and troublesome formations into the borehole; consequently, especially in deep wells, of proper drilling fluids materially reduces the need for casing and lowers the cost of drilling and completing the wells."

May 1, 1942

By J. W. Gulyas

Settling a contract for process design involves a negotiation between the design engineers and the client. Clients wish to offload as much risk as possible by seeking various guarantees about the process performance. Design engineers respond with preconditions and qualifiers, believing that the risk must remain with those who stand to benefit. This paper presents the engineers? point of view on guarantee types and precedents, performance testing, damages that may be claimed, and remedies that can be provided with particular reference to the mining industry.

Jan 1, 2010

By C. A. Border

This paper is a brief record of the State's involvement in the problems that have faced Iow-grade mines in the South African gold-mining industry for a period of more than sixty years. Not all the recommendations made by the various commissions are recorded here, but those which are included highlight the fact that many of the problems that plagued the industry during those years, whether economic or labour matters, are still troubling the industry today.

Jan 1, 1981

By Orlando Oliveros

The Los Bronces Mine and Concentrator, one of the three operating units of Compania Minera Disputada de Las Condes S.A. (an Exxon Minerals Co. affiliate), is located in the high Andes of East-Central Chile approximately 70 kilometers northeast of Santiago at an elevation of 3,650 meters above sea level. (Figure 1). Santiago, the capital city of Chile, is located at an elevation of about 500 meters above sea level and enjoys a very mild climate, similar to some areas of California. At the mine site, however, extremely heavy winter conditions prevail occasionally, with very heavy snow and the resulting snow avalanches endangering installations and people. At the same time, ideal skiing conditions are found at the nearby ski resort of Portillo and Farellones. Mount Aconcagua, the highest mountain in the western hemisphere is only about 55 kilometers further to the northeast of the Los Bronces mine.

Jan 1, 1983

As in other countries, gold mining inNew Zealand has been cyclic in character. Looking at these cycles may provide insights as to what may occur in the future and that is the basis for this study.   New Zealand has experienced four gold mining cycles. The first began in 1857, peaked in 1866 and terminated in 1890. This cycle was characterised by alluvial gold mining by individuals and small groups. This is referred to as the Labour Led cycle. The second cycle began in 1890 and reached its peak in 1906 and terminated in 1929. This cycle was characterised by the use of dredges in alluvial gold mining and was also the peak of hard rock mining. This cycle is referred to as the Technology Led Cycle. The third cycle peaked in 1940. This cycle was far less significant than the previous cycles, arising out of the depression when the unemployed embarked on small scale alluvial mining. This overprinted the continuing decline that occurred after 1906. This cycle is here referred to as the Depression Overprint Cycle.   The fourth cycle began in 1984 when production began to climb rapidly from a very low base. The growth in production was spurred by rising gold prices in the early 1980s resulting in relatively low grade gold-bearing alluvial ground becoming economic. But in the 1990s, production from the new hardrock mines in Coromandel and Otago has overshadowed alluvial production. This cycle is here referred to as the Price Led cycle.   What are the future prospects for gold in New Zealand? Although there are many factors involved, this will be largely determined by two factors; firstly, continued access to prospective gold-bearing properties, and secondly, the price of gold. Based on these factors, three future industry scenarios have been developed. The first of these is industry collapse, in which access to prospective property is constrained and prices mayor may not weaken. The second is industry consolidation, in which the available ground is accumulated by a small number of large companies who can use economies of scale to weather price fluctuations. The third scenario is industry growth, in which access to prospective ground is constrained in environmentally sensitive areas but is otherwise relatively unconstrained. Efficient companies are allowed to work in a policy and economic framework that allows them to make a major contribution to the economy.   While the industry cannot control these critical factors, a good knowledge of the positive role gold mining could play in the future economy may provide a framework by which the access issue, in particular, may be addressed from a balanced perspective.

Jan 1, 1994

By J. D. Kennedy

The alchemists of old are remembered well for their tireless efforts in attempting to convert various common metals, such as lead, into gold. Not so well known generally, but no less intense, have been the efforts of certain individuals who attempted to manufacture diamonds over the last 100 years. Diamond, the most glamorous and permanent of gems and the hardest industrial abrasive, is carbon in a high-density unique crystalline form with a cubic structure and a density of 3.5. This contrasts with graphite at a theoretical density of 2.2 and possessing a hexagonal structure. Diamond is the hardest natural, material known and until very recently had no close competitor, natural or otherwise, with respect to hardness. The hardness of diamond exceeds that of any other industrial abrasive by a factor of approximately five. The early theories of diamond synthesis were rather vague. Since diamonds occurred in nature, man then looked to nature for clues as to how this might be accomplished. The original known diamond deposits of India are alluvial in character and provided little insight as to how diamond had been formed by nature, for in, these locales the diamonds have been washed by streams or carried by the glaciers long distances from the areas in which they occurred originally in the earth's crust. As a matter of fact, we are told that even today the locations of the mother ground for the Indian alluvial deposits are not known.

Jan 1, 1959

By P Church

What is the best method of splitting a sample from a reverse circulation drill rig? How important is it to obtain a correctly split sample? What is the impact of an incorrectly split sample? These are just a few of many questions asked daily in the mining industry with regard to sampling. Modern sampling theory is well described in the literature in texts and is taught in short courses throughout the world, however little has been published on the relative performance of sample splitting devices used in the field. This paper compares the performance of the Jones tiered riffle splitter with a cone splitter manufactured by SGS Metal Craft in Western Australia. The testwork was carried out at AnglogoldÆs Sunrise Dam Gold Mine, 55 km south of Laverton in Western Australia. Mineralisation at Sunrise Dam is hosted in a structurally complex framework of shear zones with dips that range from steep (70¦) to shallow (25¦). The deposit is characterised by significant amounts of coarse gold, which presents a challenge in sampling, analysis and grade estimation. The three major areas where sampling errors can occur are in drilling, sampling, sample preparation and analysis. Sampling errors attributable to drilling and sample preparation often far outweigh the errors made at other stages in the process, however historically most effort to identify sampling errors has concentrated on the laboratory and analytical procedures. Splitter design and cleanliness can have a large impact on sample collection and preparation. Splitter performance was tested with respect to sample weights, particle size distribution, and gold grade consistency. The aim was to determine if each particle has an equal probability of being sampled, the resulting sample has integrity, and if any segregation problems occurred. The cone splitter was found to provide the best split in terms of particle size distribution, with no apparent size bias. Duplicate samples had more comparable masses than those provided by the riffle splitter. Most importantly, the cone splitter gave less grade variability between duplicate samples than the riffle splitter. Testwork also confirmed that, like the riffle splitter, the cone splitter must be oriented vertically and the design of the rig or cone splitter trailer should accommodate this requirement.

Jan 1, 2003

By Will H. Coghill, C. O. Anderson

In July 1921 , we were assigned by the U. S. Bureau of Mines to an investigation of milling methods in the Tri - State zinc district ( Missouri -Kaneas- Oklahoma district ) . The work has progressed without interruption , and about onehalf of the funds allotted for it has been expended . This preliminary statement abcut the nature of the work and the results so far obtained , has been prepared for the information of the operators , and through their assistance to insure the greatest possible progress during the remainder of the work . A general survey of the district was made , and many of the mining companies cordially offered the facilities of their plants for the investigation . The work was finally centralized at the plant of the 0. M. Bilharz Mining Co. Its manager , F. H. Gartung, and his successor , O. W. Bilharz , have been especially helpful , also the millmen at this plant and elsewhere have rendered assistance without which the work could not have advanced . The Missouri School of Mines and Metallurgy , Rolla, Mo. , and the Miami School of Mines , Miami , Okla . , have given hearty cooperation . The Webb City Iron Works and the Joplin Supply Co. donated some necessary apparatus .

Jan 1, 1922

THE millng methods employed in the Mount Lyell Mining and Railway Company's mines are, perhaps, less known to the milling world than those of other important districts, due to the geographical remoteness and isolation of the Mount Lyell field,but they present many features which are unusual, and should be of interest to the mining engineer. Typical mining is carried out on an open-stope system, details of which are the result of local experience and evolution, and of which the outstanding feature is that the ground is so worked as to be largely self-supporting by virtue of domical form given to the stope roofs. It is locally termed "rill" stoping,' but differs widely from what is generally understood by that designation, chiefly in that the "rill" or slope is developed in every direction from a central focus, and not merely in directions followllig the strike of a lode or ore-body whose longitudinal dimensions are very much greater than its width. Such terms as "donie stoping" or "arched-back stoping" would be more appropriate and descriptive.The company's active operations' at the present time extend to the Mount Lyell and North Lyell mines, and, though the fundamental principles of stoping methods are the same in each, the dissimilarity of the ore-bodies, both in nature and mode ofoccurrence, necessitates considerable variation as to details to meet the respective conditions. The Mount Lyell pyritic body lends itself to the adoption of the .system in its simplest and almost ideal form, and a description of stoping in this mine willserve best to illustrate it, while later reference to details of practice in the North Lyell mine will indicate how it may be varied to meet more difficult circumstances.

Jan 1, 1915

The purpose of this paper is to present the methods used in ground water control and the considerations that affected the development of these techniques. Production at Knob Lake is currently proceeding at depths which may be as much as 200 feet below the original standing water table. In order to produce a more saleable product and to improve operating and maintenance conditions, it is necessary to depress the water table below the mining level. Considerable success has been achieved by drilling deep wells in strategic locations and installing vertical tur-bine pumps at depths of up to 400 feet. This method is especially suitable for operation under severe winter conditions and has reduced the detrimental effects by a far greater extent than other methods of water control, Spring runoff is handled in open sumps, but all other water from four mines, with flows exceeding 16,000 g.p.m., is pumped all year 'round from about thirty-five wells. THE Knob Lake operation of the. Iron Ore Company of Canada is located on the Quebec-Labrador border, 320 miles north of Sept-lies, a seaport

Jan 1, 1965

By D. R. Kelland

A program has been carried out over the last two years to apply the technology of High Gradient Magnetic Separation (HGMS) to the problem of mineral beneficiation and specifically oxidized taconite iron ores. This program, supported by the RANN division of the National Science Foundation, has consisted of a laboratory program at the Francis Bitter National Magnet Lab- oratory at MIT and a pilot investigation at the Hanna Mining Company Research Laboratory. 1 The laboratory tests were conducted using several batch type high gradient separators and a continuous separator with a rotating matrix which was constructed at the beginning of the program. The high field magnets available at F.B.N.M.L. were used for investigations above 10 kG but most of the test work was performed in the range of this field value. Ore samples were contributed by several iron ore companies and consisted of oxidized taconites having goethite and hematite as their principal components.

Jan 1, 1975

By Y Cao, J C. Tien

Occupational health and safety is essential in modern mining workplaces and in China it is often not given enough emphasis due to a lack of knowledge and/or appreciation. Although many health and safety regulations have been passed over the years, serious and relevant laws and regulations on mine health and safety are of recent history (since 2002), the level of stringent enforcement is still inconsistent and accurate field data are scant and not readily available. As of year-end 2006 there were 676 562 recorded cases of occupational diseases in China, of which 616 442 or 91 per cent were miners’ pneumoconiosis. Of these, 146 195 (23 per cent) have died, and an average of 10 000 new cases were added every year between 1991 and 2006. Another report shows that 93.18 per cent of miners have never had a contract with their companies, which means their cases were not even part of China’s official statistics. This study attempts to examine the prevalence of occupational diseases in the Chinese mining industry during 2000–2013, compiled from government annual reports and academic studies. The research will review the correlational analysis among occupational diseases, ventilation practices, protection devices and legislation.CITATION:Cao, Y and Tien, J C, 2015. Occupational diseases in China, with the emphasis on its occurrence in Chinese mine workers, in Proceedings The Australian Mine Ventilation Conference, pp 155–160 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Aug 31, 2015

By James J. Scott, John J. Reed

In a year fraught with difficulties, especially to small operators, the more stable mining organizations have shown a dynamic readiness to plunge ahead in the development of new mines, new and ingenious equipment and new tools for management to take the guesswork out of important decisions. New Mining Equipment The mining equipment display at the American Mining Congress in San Francisco demonstrated some rather radical new design concepts and a new willingness to use imagination to come up with ingenious new applications and adaptations of standard equipment.

Jan 2, 1963

The world is getting flatter through internet, mobile phone technology, relatively low cost travel, massive outsourcing of manufacturing to China and the transfer of company backroom operations to India. In the iron and steel industry, however, things will remain relatively the same with slow gradual improvements in technology; only the geographic location of plants may change over time. Or will it? The blast furnace smelting process has remained largely unchanged since 1828 when James Neilson came up with the idea of preheated air being delivered to the tuyeres. Likewise, oxygen steelmaking that takes molten iron from such blast furnaces has remained conceptually unchanged since Sir Henry Bessemer invented an air-based system in 1856. These two processes are the core of integrated steel mills that we know today. Typically such mills consist of coke ovens, sinter plant, blast furnace, oxygen steelmaking, continuous caster, rolling mills and metal coating lines. In the intervening 150 years the only real disruptive technology to the integrated steel mill has been the minimill. Based on the use of the electric arc furnace (EAF), in conjunction with a continuous caster and rolling mill, the term minimill is used because steel products are produced at down to one-tenth the scale required for economic operation of an integrated mill, with the EAF producing molten steel using largely scrap steel as its feed, as against transforming coal to coke (coke ovens), iron ore, coke and limestone into molten iron (blast furnace) and molten iron to steel (oxygen steelmaking). There are, however, a number of technologies in development that may cause a paradigm shift in the way steel products are produced and perhaps push the evolution of the minimill as a disruptive technology. Two examples are direct iron smelting, where iron is produced in a matter of seconds by injection of ironmaking feed materials into a molten bath, and thin strip casting, where molten steel is cast into 2 mm strip or less, in similar time. Both have Australian connections. A leading iron smelting technology is the HIsmelt« process, which has its first commercial application at Kwinana, Western Australia, where a joint venture of international parties, consisting of Rio Tinto and the Nucor, Mitsubishi and Shougang corporations, are in the stage of ramping up commercial production. The leading strip casting technology is the Castrip« process that arose from development work done by then BHP Steel, with IHI of Japan, at Port Kembla, New South Wales in the 1990s. Nucor followed this work up, building the first commercial plant for the technology at its Crawfordsville site in Indiana in 2001 and has recently announced an intention to build a second plant in the USA. While both technologies are only into the early stages of commercialisation they are likely to change the face of iron and steelmaking as we know it over the next 20 years. This paper elaborates on the technology of the two processes, why they could change the face of the iron and steel industry forever, what might drive the rapid change and what the changes may look like.

Jan 1, 2006

By Thomas P. Oxford

The impact of recent legislation on Florida phosphate industry operations has been dramatic. The most significant influences are described: the National Environmental Policy Act of 1969; the Federal Water Pollution Control Act Amendments of 1972; and implementation of the Florida Environmental Land and Water Management Act of 1972. Further discussion includes: critical examination of the recently completed EPA Areawide EIS; potential effects of the Resource Conservation and Recovery Act of 1976; the Surface Mining Control and Reclamation Act of 1977; current local and state laws; and summary of studies on radiochemical effects of mining, seepage from gypsum ponds, and dewatering of waste clays.

Jan 1, 1979

The value of Australia's education services exports increased to over $15 billion dollars in 2009, placing education as the third overall export earner behind coal and iron ore; however there are concerns over the impact of emerging policies on the future of both the industry and the provision of mining education. Policies have impacts on the growing number of international rankings (or league tables) of mining jurisdictions and universities. A high position in such rankings might be used as a measure of perceived quality with benefit to those at the top and to the detriment to those lower down.    Top performing companies in the relatively new domain of sustainability have been shown to achieve better financial performance than their industry competitors, assisting them in attracting top quality committed staff, hence positioning themselves well for the future. The world's mining companies, jurisdictions and universities are now ranked with results in the public domain. It is argued as to the validity of the data or perceptions used in such rankings, but there is no doubt they are influential in determining the flow of dollars around the globe. By investing your pension fund assets in the shares of the top performing companies, by placing your exploration dollars in a country at the top of such a list of attractive jurisdictions, attending or recruiting from a University at the top of the rankings - risk must surely be reduced?   While savings and risk reduction can undoubtedly result from the introduction of new technologies developed through appropriate R&D (the other core activity of a university), the maintenance of a very high level of exploration and production performance through dedicated highly skilled staff every hour of every day quietly improves financial performance, while avoiding safety, environmental and/or community incidents (ie protects the 'triple bottom line'). As always risk reduction comes down to enabling quality people to do a quality job - through the actions of such people we can sustain the global mining industry and secure our social license to operate. However, there is global concern over where the numbers of such people, including those with the recently required skills in sustainability, are going to come from.   This presentation will discuss some of the complexity and interactions involved in the development of such rankings, the dangers inherent in their simple acceptance and use, plus indicate some of the directions mining educators might take to sustain and increase the supply of quality graduates to the global mining industry. This is an ABSTRACT ONLY. No paper was prepared for this presentation.

Jun 1, 2010

By E. E. Krist, W. H. Sweetser

Sampling of an orebody has a number of purposes. In the initial phase, it is necessary to define the limits of the orebody and mineral content to the extent that it can be stated whether it is, in fact, an economic orebody. Also, samples must be generated so that geological and metallurgical evaluations can be made. Finally, when sufficient information concerning the geology, mineralogy, and metallurgy are known, a mining method and plan can be developed and the metallurgical; plants constructed to process the ores as they become available. With today's large, complex open pit copper mines, single sampling methods would be inadequate. Diamond drilling, percussion drilling, underground shafts and drifts all play a part in the total orebody, definition. At Anamax Mining Company's Twin Buttes mine, sampling and orebody definition.wil1 eventually lead to the existence of three metallurgical processing plants and, perhaps, an underground mining operation. A 30 000 tons per day sulfide concentrator was placed in operation in September 1969 and a 10 000 tons per day oxide leaching plant was placed into service in May 1975. The aim of this presentation is to historically discuss the orebody sampling that has been done at Twin Buttes, briefly describe the orebody, and discuss the analytical methods currently used to assist the geologist, metallurgist and mine planner in their respective evaluations.

Jan 1, 1978

By F D. I Hodgson

Twenty-seven observation test pits were excavated at four different spoils dumps at three collieries in the Witbank Coalfield. The holes were dug into the upper three metres of the spoils to ascertain if any weathering profiles, variation with age or influence of topsoil covering could be gauged. Samples from these holes were also subjected to laboratory testing (ABA, humidity cells and mineralogy on several selected samples). The test pits showed that there was a good correlation between in situ paste pH-values and ABA results for samples taken from the pits. At all the collieries, no correlation between age of spoils and in situ acidity could conclusively be drawn. The depth of soil cover also appears to be a minor consideration in determining the eventual acidity of the spoil. In the pits where acidity was found, the weathering was evident when contrasted to areas still buffered. It is unclear if the weathering leads to the acidity or vice versa, as the soil covering appeared to be similar. The spoils proved to be extremely variable with regard to particle size and material on a micro and macro scale. Evidence from most of the holes suggested that there was enough water contained in the fine material in the spoils to support the initiation of acid generation. Conclusions from this investigation are that the mineralogy of the spoils is the most important factor in determining the eventual occurrence of acidic hotspots, and that prior characterisation and selective handling will provide the best management practice for these spoils.

Jan 1, 2003