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The seventies was a decade of intensive hydrometallurgical activity, firstly for copper recovery, then uranium, and finally gold. In comminution, semi-autogenous grinding was applied to uranium and gold ores. In leaching there were extensive investigations into pressure and in-situ systems, and into ammonia and chloride leaching processes. Solvent extraction became a major unit operation for copper recovery. New reagents and equipment were introduced. There was a resurgence of ion exchange for uranium as low grade sources were tapped and continuous ion exchange systems developed. Carbon-in-pulp technology came to the fore for gold recovery with the development of desorption and electrowinning systems. Electrowinning was widely applied for copper in conjunction with solvent extraction. There was a continued move to greater mechanisation and higher current density. There were important developments in solid-liquid separation such as high capacity thickeners, belt filters and sand filters. Many of these trends will continue in the eighties. Interesting new developments can be expected.

Jan 1, 1981

By J L. Merritt

Effective minesite water management requires that this issue be treated as a risk management exercise. The management process is generally far from simple and by necessity must involve a range of personnel covering a siteÆs commercial, operational and environmental interests and responsibilities. The challenge to be collectively faced by these stakeholders is to strike the correct balance between risk and cost. On the other hand, the challenge to be faced by technical services support personnel is to provide stakeholders with information in a format that they can use with confidence. This paper presents the application of continuous operational simulation (OPSIM) modelling techniques to establish appropriate risk profiles for minesite operations. It is necessary that the format of these risk profiles be generic and equally applicable for defining the risk of occurrence for a relatively comprehensive range of activities û eg from of a non-compliant discharge, to the risk of failure to meet production targets. What is more, the profiles need to be quantitatively based and capable of reflecting change in system response to varied operational or management strategies. The techniques presented in this paper are based around a key assumption that long-term records of the climate contain within them sets of sequences that are representative of what can be expected in the future û that is, the droughts, floods, cyclones, good years and bad, long or short, and everything in between. Therefore, if these historical records are run through an OPSIM model for a particular site, then the simulated operational characteristics can be taken as being representative of what can be expected in the future, in the long-term. This lends itself to statistical analysis and translation into the required risk based format. Water Solutions Pty Ltd have been working with Capricorn Coal Management to develop a relatively comprehensive OPSIM model of their operations at German Creek Mine, Central Queensland. Outcomes from the modelling have been used in recent times to provide mine management with risk-based guidelines for both securing and containing mine water inventories. One of the more interesting tasks has been to establish risk based inventory levels that, if reached, would trigger the immediate implementation of a contract for the desalination and re-use of mine water, at predefined rates. Also, lead-time warning of the occurrence of a possible trigger is of importance to operational and commercial planning. To service this requirement the OPSIM model is regularly used to produce lead-time estimates to defined levels of confidence. Case studies of these, and other, applications of the OPSIM model at German Creek Mine are presented in this paper and serve to demonstrate an effective methodology for practical risked based water management.

Jan 1, 2003

By G Lind

Bridging of production stopes in narrow vein gold deposits contributes to significant financial losses and production delays. Bridging is caused when underbreak in the stope production blast occurs, resulting in less than the designed stope blast volume breaking out during blasting. Jundee Operations in the Northern Goldfields of Western Australia extracts ore from its expansive narrow vein orebodies utilising longhole open stoping. In 2006 it experienced bridging in ten panels, or 8.77 per cent of all panels, as well as multiple bridging in 30 per cent of these bridged panels. The Jundee orebodies are west dipping with the bridged panels dipping between 44¦ and 62¦. This paper examines some solutions from the drill and blast design perspective to minimise bridging occurrences. It was found that the then current drill patterns and number of holes were adequate from a longhole stope design perspective. However, changes to the blasting design, specifically modifications to the blast delay initiation sequencing, primer positioning and blasthole dump combined with timely stope surveying and back analysis, were implemented with the aim of preventing bridging in this narrow vein operation.

Jan 1, 2008

And it takes more than good organisation. You may read or heard this poignant reflection: We tried hard, but it seemed that every time we were beginning to form up in teams we would be reorganised. I was to learn later in life that we tend to meet any new situation by re-organising, and a wonderful method this is for creating the illusion of progress while producing confusion, inefficiency, and demoralisation This was written by the Roman Gaius Petronius in AD65. How much have things changed in nearly 2,000 years? What then does it take besides the fundamentals and good organisation to build a successful career in a successful organisation? I'm prepared to venture a list of what I'll'call Tips for Young Professionals. If you've got what it takes, and apply these, I think that you'll gain a great deal of satisfaction from your career, even if you don't reach the distant target each of you should have in mind now. So settle back in an advice-receiving mode, and please forgive me if I come across as a master of the bleedin' obvious, as Basil once accused his wife Sybil of being in the unforgettable Fawlty Towers.

Jan 1, 1990

By Mortensen JK, Lang JR

The Canadian Cordillera contains numerous classic porphyry deposits and several unusual subtypes, including the alkaline suite of porphyry Cu-Au deposits and the Tombstone magmatic suite and associated Au¦W deposits. The alkaline suite formed in collisional settings in island arcs whereas the Tombstone suite was emplaced in an active fold and thrust belt in a continental arc. In addtion to different regional settings, these suites differ in the type of underlying basement, metallogeny, and the styles of mineralization. Both magmatic suites were emplaced over short intervals, probably in response to specific tectonic events. In the case of the alkaline suite, the tectonic event promoted magmatic processes suitable for the formation of porphyry Cu-Au deposits. The tectonic environment is less well constrained for the Tombstone suite, but the result was the formation of distinctive porphyry and intrusion-related Au¦W deposits.

Jan 1, 1995

By D R. Rankin, J J. Fuykschot

Forrestania Nickel Mines is owned and operated by Outokumpu Mining Australia Pty Ltd and is situated 400 km east of Perth, WA in the Forrestania Greenstone Belt. Production started in late-1992 at a rate of 600 ktpa and reserves were exhausted in August 1999. Cosmic Boy is the largest of three mines worked and operates in a high stress environment with both very high and very low rock mass strength domains. Stoping commenced in 1995 using conventional benching with long hole slot rises but because of drilling and blasting problems the mine switched to airleg rising. In 1997 the mining method was changed to smaller scale up hole retreat benching with each stope requiring a slot rise of up to 16 m length. This method does not allow top access to the rise location and so airleg rising was used until mid-1998. At this stage mining was approaching areas of higher stress for which it was clear that an alternative to this entry method of rising was required. Small diameter raise boring and Cubex rigs were considered but because of the set up costs were not considered to be viable. Since the ore is relatively soft, burn cuts were developed to make use of specially designed 152, 203 and 254 mm diameter reamer bits (depending on the rise length) and drilled with conventional long hole drilling equipment. These rises are fired in one blast together with the slot rings. In the northern lower section of the mine (below 400 m) the principle stress has been estimated at 60 MPa and this causes minor strain bursting in BIF development headings and loose material to form on walls and backs. Trials of destress blasting modelled on Canadian experience has greatly reduced strain bursting at the face. However only around 300 m of development was affected and so this method had not been optimised when mine development was completed.

Jan 1, 1999

This short paper outlines the authorÆs views regarding the progress we have made as an industry in managing mining assets over the past 500 years. It represents a personal view û but one founded in fact-based observations of mining companies and of the mining industry in general. There is no doubt that AgricolaÆs views as expressed in De Re Metallica (1556) were visionary. There is also little doubt regarding another issue û that whilst a great deal has been learnt about the management of mines since AgricolaÆs time, observations suggest that best practice management is the exception rather than the rule across our industry. Although insights regarding the successful management of mines have become apparent, we still witness unnecessary errors in our industry that lead to the loss of shareholdersÆ funds. By highlighting some aspects of current best practice, particularly in the arena of operations management, it is hoped that this short paper contributes a small step along the next 500-year-long learning curve. The paper concludes with a brief description of the progress and impact of continuous improvement initiatives at Kalgoorlie Consolidated Gold Mines (KCGM). Located in the Kalgoorlie Goldfields, KCGM is currently AustraliaÆs largest gold mine producing over 800 000 ounces of gold per annum. Improvement initiatives at KCGM look set to deliver some $100 million in value over life-of-mine.

Jan 1, 2004

By P D. Erskine, A Hine

The current Queensland Government’s rehabilitation guidelines for post-mining landforms present a hierarchy of preferred outcomes for different areas within the mine site (see Figure 1). Within all areas, restoration of a ‘natural’ ecosystem is clearly prioritised as the preferred end land use, although it is not a mandatory practice. Beyond the official guidelines, there is also an implied preference for renaturalisation echoed in most environmental impact assessments and closure plans (Lamb, Erskine and Fletcher, 2015). In practice, however, ecosystem restoration does not extend to construction of a realistic topographic form, largely rejecting the ‘natural’ aesthetic implied by ecosystem restoration in favour of adopting a functional aesthetic in deference to standard engineering criteria.This presentation argues that the established disconnection between actual and implied landform aesthetics is indicative of a wider problem around end landform planning. It contends that such disconnects are the result of the impact of competing ‘ways of seeing’ (Bradley and Kearney, 2007) the same landscape, and reflect the struggle between, and inclusion of, these differing perspectives within the planning process itself. We propose that recognition of the complexity of landscape perceptions is key to improving post-mining landscape outcomes, and the misalignment between land use values and landscape aesthetics can be addressed by establishing an overarching framework for landscape preferences. As such, we outline the reality of stakeholder landscape preferences, and present a critical response to current planning practices within the life-of-mine (LOM).CITATION:Hine, A and Erskine, P, 2016. Recognising and integrating stakeholder landform expectations into life-of-mine planning, in Proceedings Life-of-Mine 2016 Conference, pp 154–157 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Jun 28, 2016

By i, A Shirbazo, S Saydam, S Ata, H L. Ram, B Li

The integration of internet technology into industrial sectors has significantly accelerated the adoption of Internet of Things (IoT) devices, transforming communication, data aggregation, and information distribution. The mining industry has embraced this evolution by deploying IoT devices and advanced technologies like autonomous robots and sensors to enhance operational safety. These sensors enable real-time data transmission and continuous monitoring of key parameters, providing decision-makers with timely insights. However, the interconnected nature of these devices has introduced complexities, resulting in inconsistencies across operations. Addressing these challenges, this research explores the application of modern digital principles to the mining industry through the Reference Architecture Model Industry 4.0 (RAMI 4.0). RAMI 4.0 offers a robust framework that integrates digital and physical systems, promoting data transparency, interoperability, and decentralised decision-making. This study aims to briefly introduced framework designed for the unique challenges of mining operations, leveraging the latest digital technologies. The lack of standardisation in the mining sector highlights the need for a comprehensive approach to tackle issues such as interoperability, scalability, security, safety, and repeatability. Establishing standard procedures can ensure smooth interaction between connected devices, ultimately enhancing operational efficiency in the growing IoT ecosystem within the mining industry. Introducing a well-defined reference architecture like RAMI 4.0 can streamline management processes and improve operational efficiency in mining. By adopting this framework, the mining industry can effectively navigate the challenges of digital transformation, leading to a more connected and resilient future. The study concludes that RAMI 4.0, with its structured approach, can significantly enhance the efficiency and productivity of mineral processing operations, fostering sustainable growth in a digitally driven industrial landscape.

Sep 1, 2024

By S KandT

The FalTmT iron ore deposits are located in the so-called æBirrimianÆ volcano-sedimentary complex that extends in a general NE-SW direction across eastern Senegal and part of Mali and Guinea. The rocks underwent folding and greenschist facies metamorphism, as well as various events of granitoid emplacement. The deposits form part of the DialT-DalTma Series of the Birrimian Supergroup and were subjected to contact metamorphism. The Fe-mineralisation occurs as primary magnetite within the metamorphic aureole. Supergene oxidation (martitisation) of this mineralisation produced the hematite-rich iron deposits that can be seen as prominent hills across the plains of this south-eastern corner of Senegal. BRGM of France and Miferso (SociTtT des Mines de Fer du STnTgal-Oriental) have conducted several phases of prospecting since 1957. Their aim was to delineate the hematite deposits and to assess the grade, beneficiation characteristics and marketability of the iron ore. A feasibility study by Fluor Daniel was completed in 1992. Results indicated that, at the time, the resource could not compete in the international arena in terms of size and accessibility. The growing iron ore market and additional available resources in the area now challenge the 1992 feasibility study results and put the old kid back on the iron ore block. The project faces some mining challenges, such as the amount of magnetite in the hematite product that will be acceptable to the market. Previous project evaluations only considered the secondary hematite deposits as economically viable. It is therefore important to accurately delineate the magnetite/hematite contact zone to optimise the resource tonnage. Project logistic constraints also exist in terms of railway access and harbour facilities. The resource is, however, well situated for the European iron ore market and aims to find a place in the rapidly expanding iron ore seaborne trade.

Jan 1, 2005

By M Csar

The Nicolsons Find gold project is located 35 km southwest of Halls Creek in the east Kimberley. It was discovered in the late 1980s by John Nicolson and Stuart Skoglund, when high grade gold mineralisation within outcropping gossanous quartz reefs was found. The area has produced a modest 28 150 ounces of gold over two brief mining periods in 1996 and 2002 - 2003. Indicated and inferred resources as of September 2011 stand at 1 384 000 t at 5.58 g/t Au for 248 500 ounces of gold.The project is situated within the Halls Creek Orogen. Principal host units are metasediments and volcaniclastic sediments of the Koongie Park Formation. Minor mafic units are also recognised. Immediately east of these units, emplacement of the loadstone granite is believed to have provided the structural setting for the later gold mineralising event.Mineralisation is hosted within a broad, brittle-ductile arcuate shear zone about the western contact of the Loadstone granite. In the Nicolsons Find area, the shear zone strikes north-northeast and within the shear zone, gold is hosted in a series of narrow, quartz rich veins up to 200 m in strike length, plunging moderately to the north-northeast. To date, mineralisation has been drilled to a depth of 360 m below the surface. The veins are stepped or en-echelon in nature with low gold values towards the quartz vein limits where compression is inferred and higher grades present in the dilational body of the quartz veins. Gold is fine grained and can be present with or without associated sulfides. Sulfides are generally minor and consist mainly of arsenopyrite with traces of chalcopyrite, pyrite and sphalerite. Where present, sulfides are generally indicative of higher gold values.CITATION:Csar, M, 2012. NicolsonÆs Find gold project, East Kimberley, Western Australia, in Proceedings Narrow Vein Mining 2012 , pp 31-36 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Mar 26, 2012

By Jin C, Shi X

The electrochemistry of leaching gold with thiosulphate has been studied systematically by using electrochemical techniques. Results show that the current peak of anodic dissolution of gold occurs at about 50 mV(SCE) and there is passivation in the polarisation curve in the thiosulphate solution in the absence of ammonia. Ammonia markedly improves the anodic dissolution rate of gold and reduces the passivation as well as making the current peak shift negatively. Results also show that there is no current peak for a cathodic process in the range of 0 -900 mV(SCE) in the thiosulphate solution in the presence of oxygen but absence of cupric ions and ammonia. In the solution containing 0. 1 mol/L cupric-ammonia ions, the peak occurs at about -400 mV (SCE) and the cathodic process is characteristic of a catalytic reaction. Oxygen presents a predominate effect on the cathodic process. Based on the electrochemical investigation, the following mechanism of leaching gold with ammoniacal thiosulphate has been proposed. Ammonia reacts primarily with gold ions on th anodic surface of gold and the formed A (NH3)2+ rea~s then with S2O 3 in solution to form the stabler Au(S203) 2 . Cu (NHS) 4 gains electrons on the cathodic surface and is reduced to CU(N) ? which is then oxidised by oxygen and regenerated into Cu(NH3) 4 after entering the solution.

Jan 1, 1993

By T Raynlyn, J J. Campbell, J M. Young

In order to correctly predict the performance of beneficiation processes, such as hydrocycloning or ultrasonic treatment of iron ore fines, it is important to understand possible changes in size distribution, mineral composition and textural peculiarities. During beneficiation processes, iron ore can be subjected to various physical actions which may result in changes in size distribution. In the case of soft or friable ores, attritioning and/or deagglomeration may have a significant effect on both separation performance and product stream specifications. Optical image analysis tools, which give statistical information on a particle by particle basis, can help in better understanding the response of the ores to these processes. An experimental study has been conducted to investigate the response of a haematitic-goethitic iron ore to a combination of stirring and ultrasonic treatment. The effect of stirring and ultrasonic treatment on the size and mineral distribution has been quantified using image analysis and automatic ore texture classification. This approach has been applied to several size coarse fractions of the initial feed and product. The results show that, following treatment, the mass proportion of ore texture classes which contained higher amounts of ochreous goethite and kaolinite had significantly decreased compared with that in the feed, while the proportion of texture classes where haematite was the major mineral had increased. Liberation analysis also showed a significant increase in the proportion of particles with more than 95 per cent haematite and vitreous goethite.

Jan 1, 2007

In July 1994 the Premier, John Fahey MP, announced that the New South Wales Government would make available a total of $40 million over six years in new funding for the Department of Mineral Resources. These funds are to be applied directly to the generation of regional geological and geophysical information. The Government's initiative known as `Discovery 2000', is aimed at providing a major boost to the exploration industry. The Government expects new discoveries to be made and new mines to be developed because of the initiative and, perhaps, the first ever commercial oil or gas production in New South Wales. The Government's return will come from increased economic activity, and from the increased royalty return from higher levels of production. Quality information is the key to successful exploration. In the highly competitive business of mineral and petroleum exploration high quality regional geological and geophysical information improve both the efficiency and effectiveness of the area selection or project generation process. Using the `needle in the hay stack' analogy, Discovery 2000 will vastly improve industry's chances of finding the haystacks. It is up to the mineral and petroleum industries to find their respective `needles'. Careful target area selection is probably the most critical factor in mineral exploration. The ability to select the most prospective areas, or to identify prospectivity that others have failed to recognise, can make all the difference between success and failure. Government geological surveys clearly have a crucial role to play in providing the geoscientific information infrastructure that companies must have if they are to make the discoveries this country needs to pay its way in the world. It is the regional information generated by Governments that sets the scene for efficient exploration. This regional information includes regional aeromagnetics and radiometrics and gravity, regional geological mapping and tectonic analysis, and geoscientific databases. The New South Wales Department of Mineral Resources (by various names) has been providing such information for over 100 years and has led the way in many aspects of the generation and dissemination of geological, geophysical and metallogenic Information.

Jan 1, 1995

By U Berg, T Neumann, Y Song

Eutrophication of water bodies is one of the most severe environmental problems worldwide. It is well known that the availability of phosphate, as the limiting nutrient, is crucial for increased primary production and eutrophication. Calcite exhibits positive surface charge in most natural waters and can therefore be used for phosphate immobilisation. In this study, sorption experiments were performed in order to test different calcite materials regarding their suitability for use in restoration of eutrophic lakes. These short-term experiments were performed under different hydrochemical conditions (pH, SICC, initial dissolved P concentration) and with varying calcite properties (specific surface area and amount) in order to predict the long-term stability of the Ca-P-bonds. Peculiar shapes of isotherms that could not be explained only by adsorption processes were detected in the individual experiments. Depending on the residual P-concentration in solution, the isotherms can be divided into three sections indicating different processes responsible for the P-fixation on calcite surfaces. Adsorption prevails in equilibrium with lowest residual P-concentrations. The inflection of the isotherm at moderate residual P-concentrations suggests that precipitation and transformation of a Ca-P compound becomes dominant. This is supported by characteristic Ca/P-ratios for different Ca-P-compounds (b-tri- calcium-phosphate, octa-calcium-phosphate). On the new surface, phosphate ions again are fixed by adsorption. The observed transformation of P-bonding is crucial for sustainable phosphate immobilisation on calcite surfaces. While pure adsorption processes are reversible, the development of a thermodynamically stable Ca-P-phase, like hydroxylapatite, will lead to a lasting immobilisation of phosphate.

Jan 1, 2008

By L Mackinlay

The Apeketon Business Hub in Lihir, Papua New Guinea, emerged in 2019 through a partnership between Australian Business Volunteers (ABV) and Lihir Gold Limited (LGL), a subsidiary of Newmont Corporation. This development was driven by a shared vision for the Lihir gold mining operation to further enhance opportunities for the local community and strengthen the economy’s resilience post-mine. At its core, the business hub serves as the epicentre of ABV’s operations in the region. It includes a drop-in resource centre which provides the community with mentoring and consulting services, and access to a range of impactful workshops facilitated by ABV’s local staff and skilled volunteers. These workshops focus on local Lihirians but are open to the entire community, including Newmont employees. We design and continually refine Apeketon Business Hub support programs and offerings driven by community priorities, building trust through long-term relationships, and working side-by-side on real-time challenges. We offer three core programs to different levels of the community, from individuals and families to start-ups, large corporations, and landowner groups. There is significant demand for the support services provided by ABV, with over 350 Lihirians participating in our workshops over the 2023 calendar year. One of the hub’s core offerings is the Family Money Management Program, which addresses crucial challenges faced by Lihir households, particularly in terms of financial resilience. The program takes a comprehensive approach, assisting families in long-term planning and developing skills to effectively manage the income they derive from their employment with LGL and other enterprises. Significantly, the program also addresses financial stress, a factor often associated with domestic violence (Fox et al, 2002). By empowering women and promoting joint financial decision-making, the Family Money Management Program fosters a culture of savings and improved financial management, ultimately enhancing economic resilience within the community.

Sep 1, 2024

A key premise to this paper is that most people involved in the design and implementation of drilling and blasting operations could benefit from a greater understanding of the geological materials, deposits and landforms they are dealing with. The second key ingredient for successful blasting is the concept of blasting objective. Mine operators and blasting contractors must be clear on what drives their costs (blasting leverage) and should formulate blasting objectives and operational targets which help in this regard. Many operators ignore geology descriptors and features apart from the name of the rock and start crudely quantifying the rock mass properties in terms of uniaxial compressive strength, or even worse still as hard or soft. This occurs too early in the design process and not much attention is paid to the geological materials, geological structures and the characteristics of the deposit they intend to excavate. In effect the rock type name and the strength descriptor become the site geology. Furthermore many blasting operators do not formalise their blasting objective, do not set operational targets and do not measure results to the degree required for continuous improvement. In this paper a number of civil, surface mine and underground mine blasting applications are tabulated in terms of typical blasting objectives and common geological materials. A good description of geological materials can convey a lot of useful information for blasting operators if they are able to accommodate this knowledge. In addition a clear statement of the blasting objective and associated operational targets will maximise the likelihood of achieving blast-driven downstream productivity improvements. The æStarting at Both EndsÆ combination is deemed extremely useful for any continuous improvement blasting program.

Jan 1, 1999

Many mining companies, by their remoteness of location from source of power, have to generate their own power and must experience the same problem that had to be met when deciding to increase the capacity of the power station. At present the Company is treating approximately 54,000 tons of ore mined per month, and the present shift average load. is approximately 8,500 kW. at 0.8 power factor, generated at the power plant, the observed peak load being 10,500 kW.It is proposed to increase the tonnage of ore treated to include 36,000 tons of copper ore, in addition to the present 54,000 tons of lead ore. The average load is estimated to be approximately' 16,000 kW. with a peak load of 17,500 kW. The estimate provides for power of 1,000 kW. to be supplied to the north end leases in the next 12 months, also for increased ventilation in the mines.There are installed in the main power station three turbo alternator sets each of 5,000 kW.; normally two sets are run in parallel and one set is a standby unit. A 12,500 kW. set is being installed and proposed loading with the increased tonnage will require the 12,500 kW. set and one 5,000 kW. set, or alternatively, the three 5,000 kW. sets When the 12,500 kW. set is down for service. When the original plant was installed some 25 years ago, the switches selected and installed in the main 3,300 V. power plant switchboard were rated at 150 MVA and the substation distributing centres located at the surface of the mine, in the mill, and in the smelter, were purchased as having a rupturing capacity of 100 MVA, and the stator...

Jan 1, 1953

This paper focuses on the significant impact that geological information has in relation to the valuation, both equity market and accounting records, of mining companies. There are many different measures adopted by investors and analysts in valuing mining companies. In particular, focus is primarily on calculation of profit as it is the authors primary expertise. The importance of geological information to the calculation of profit (and to many other measures of a mining company performance) is not always understood by the geologist. The aim of this paper is to raise the awareness of geologists (particularly those who are competent persons under the JORC code) of the impact that reserve statements û and changes to û have on profits. This is the first time that this subject has been presented directly to geologists. Similar versions of this paper have been presented at other forums where other important users (directors, auditors, accountants, analysts, investors) or preparers of financial statements have been made aware of the importance of the geological information. In essence, all mining companies prepare annual financial statements, which are adopted by directors and audited. The major items that require judgement generally revolve around two areas û commodity price outlook and the accuracy of reserves and resources. Reserves and resources are important, and that there is undoubtedly a lack of understanding about the assumptions and accuracy of reserves and resources by accountants, directors and auditors, and a general lack of understanding by geologists as to how the information that they prepare is used. Across the globe the majority of mining companies are listed on stock exchanges (with the main exception being nationally controlled mining companies û eg Codelco). In a very simplistic manner, I have divided all mining companies into three types: exploration plays û these companies are still in the finding or proving modeÆ and typically the stock market and investors rely on geological information and remaining cash in determining their assessment of the company; single mine companies û the major items that investors and the stock market look for are reserves, inferred resources, commodity price outlook and discounted cashflow calculations; and multiple mine companies û the investment community and stock market are looking at reserves, inferred resources (generally to a lesser extent at this stage), commodity price outlook, discounted cashflow calculations and profit and loss accounts. Regardless of the type of company, the equity markets, including analysts, try to determine appropriate valuations for mining companies. In doing this the major two areas that require judgemental consideration are the commodity price outlook and the level of reserves and resources. Generally speaking, most mining companies have a strong understanding of their cost structures û in particular their cash costs as distinct from their accounting costs of production û and therefore this area generally gets less consideration than the other two matters mentioned above.

Jan 1, 2003

THE reduction of iron from the ferric to the ferrous state prior to its titration by permanganate or dichromate may give erroneous results in the presence of other reducible metals such as titanium. Stannous chloride and metallic zinc both reduce tetravalent titanium to a lower form, and so increase the consumption of the oxidizing standard: solution. Sulphuretted hydrogen and sulphurous acid do not reduce titanium, but are slow in action and troublesome to manipulate.Sulphuretted hydrogen is considered to be the best reducing agent for iron in the presence of titanium.* In the method to be described the advantages of the H 2S reduction are retained without the disadvantages of using the gas. The reduction is carried out by the action of a metallic sulphide having a solubility product of such a value that the sulphide iom, are utilized as fast as they are formed, and but little free sulphuretted hydrogen is given off.Cadmium sulphide was the first to be tried, but its solubility product (3.6 x 10 - 2~)t was apparently too low. The reduction was satisfactory, but the excess was very difficult to remove. Zinc sulphide (S.P. = 1.2 x 10 - 23) was found to be quite satisfactoryin both respects. The zinc sulphide is preferably used in the form of an emulsion prepared from pure zinc sulphate as follows: About 100 grm. of ZnS047H20 is dissolved in 2 litres of water. H2S is passed until no further precipitate is obtained, the acid formed being barely neutralized from time to time by the addition of ammonia. The precipitation of the sulphide in a slightly acid solution gives a finer emulsion than that prepared in an alkaline solution, and any iron present remains dissolved. The precipitate is allowed to settle and the clear liquid decanted. The precipitate is then shaken up with more water, acidified with a little sulphuric acid, allowed to...

Jan 1, 1922