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The South Mine, property of Broken Hill South Limited, is situated at Broken Hill, NSW, Australia, towards the southern end of the main lode. The leases (MLs 7 and 8) cover a length of 2400 feet along the lode outcrop and the workings extend, at this date, to a depth of 1940 feet below the collar of the original main shaft and to 825 feet below sea level. Mining operations have been continuous for about 58 years and during this period nearly 12.5 million tons of ore have been mined. The monthly tonnage extracted approximates 30 000 tons in normal times.The ore is a mixed sulphide containing galena and marmatite; the gangue minerals are principally calcite, rhodonite, quartz and garnet. A typical assay for a monthly period is 14.4 per cent Ph, 5.6 ozs Ag, and 11.6 per cent Zn. The whole of the ore is concentrated on the property by combined gravity and flotation methods. The lead and zinc concentrates produced are railed to other centres for the extraction of the contained metals.

Jan 1, 1994

By Oxenford R. J

An important rutile-ilmenite-zircon bearing sand deposit was discovered by local farmers at Eneabba, 300 km by road north of Perth in 1970. These heavy minerals occur in a series of ancient strandlines and associated dunal deposits at elevations from 85 m to 170 m above the present sea level and are situated,30 km inland. The strandlines were deposited on wave- cut platforms in an ancient bay bounded by Mesozoic sediments during a series of regress- ions from a high sea level, probably during late Tertiary or early Pleistocene times. The immediate source of the heavy minerals in the Eneabba deposit is a widespread low content of those minerals in the nearby Mesozoic sedi- ments. The high-grade southern portion of the Eneabba deposit has been closely drilled and is now being prepared for production by Allied Eneabba.Pty. Ltd., a subsidiary of Allied Minerals N.L. This part of the deposit is 11 km long and up to 2.5 km wide. It is characterised by little or no overburden and the average depth of mineralisation, bounded by a 2.5 per cent heavy mineral cut-off, is 12 m. The water-laid strandline deposits at the base of the mineralisation are generally high grade, ranging from 20 to 60 per cent

Jan 1, 1973

By A Chandra, P Guj

Only a few complex real options can be valued using closed-form equations, such as the Black and Scholes formula, because these algorithms are restrictive and prevent the construction of practical project evaluation models. Although a binomial lattice method paired with the ærisk-neutral probabilityÆ provides an easier and flexible modelling of exploration and mining projects, it has limitations when projects are complex, long-lived and influenced by the interplay of various market and private uncertainties. In order to overcome these limitations, modern decision tree software using dynamic programming capability can be used for real option valuations. This is a powerful computational tool in which the impact of various sources of uncertainties can be differentiated, so that the optimal decision path can be explicitly displayed visually. There has been significant academic controversy surrounding whether different real option (RO) valuation methods would lead to different real option values (ROV). This paper, using a realistic copper mining example, demonstrates that as long as the same degree of subjectivity and consistency are used in different real option valuation methods, they yield the same result. This conclusion is valid irrespective of whether the cash flow volatility generated by various sources of uncertainties is handled in an aggregated or in an explicit and differentiated manner. This paper compares two choices for an investor either to æbuy now and developÆ a project or to enter into a ætwo-year option to purchaseÆ after the proponents have developed it. It also shows how significantly different net after-tax operating cash flows may be generated by these different choices on the same underlying asset represented by the project. This is due to the difference in the amount and timing of the relevant capital investments affecting the depreciation and amortisation charges and as a consequence, the income tax paid. CITATION:Guj, P and Chandra, A, 2012. Real option valuation of mineral exploration/mining projects using decision trees - Differentiating market risk from private risk, in Proceedings Project Evaluation 2012 , pp 177-188 (The Australasian Institute of Mining and Metallurgy: Melbourne).

May 24, 2012

By Schmincke H-U

The Pleistocene basanite-tephrite Rothenberg cone complex was built by an alter- nation of strombolian and phreatomagmatic phases of explosive eruption. Two main centres, on a one km long NNE-trending fissure, were active during its construction. The strombolian deposits from three discrete facies corresponding to the crater-fill and inner wall and outer wall environments on the cone. The outer wall facies consists of an alternation of 1. 'normal' coarse-grained, relatively well- sorted lapilli and bomb beds, and 2. finer-grained poorly-sorted lapilli beds. Evidence suggests that the former was pro- duced by open-vent lava fountaining, with balanced magma supply and discharge rates, and the latter are the products of eruptions during partial blockage of the vent, by collapse of wall-rock, and formation of a degassed crust on the magma. The resulting explosions there- fore ejected a mixture of fresh actively ves- iculating magma, older partially degassed lava and material recycled from the wall of the cones. The phreatomagmatic deposits are an alternation of moderately-sorted fall beds and thinner ash-rich pyroclastic surge and rain-flushed units. The clast populations are much more diverse than strombolian ones, including abundant wall rock fragments from 0-100 m depth. The juvenile (magmatic) particles range from highly vesicular scoria to dense 'bread-crusted' clasts, and contain abundant small wall rock inclusions. The phreatomagmatic phases are products of explosive interaction of small batches of magma with shallow groundwater. Vesiculation of this magma played a small but significant role throughout the fragmentation.

Jan 1, 1987

By Fukui M

An increase in pig iron output by 50 per cent was aimed at after re-lining No.2 blast furnace of NAKAYAMA STEEL WORKS. This had to be achieved by increasing both the furnace volume (from 673 to 757 m3) and its productivity, Without equipment for high top pressure operation, high productivity was mainly attained by the following three measures; (1) improving the gas flow characteristics by maintaining a high ratio of agglomerated ores, increasing the strength of sinter and coke, and optimizing the charge distribution, (2) decreasing the fuel ratio by low Si operation and the use of hot blast, and (3) oxygen enrichment. In addition, the tapping controls for pig iron and slag were intensified. As a result of the above measures an excellent hot metal output of 2.7 tonne/m3/day was attained in April 1979 (monthly average).

Jan 1, 1980

By Z W. Orndorff

Excavation through sulfidic geologic materials during construction activities has resulted in acid rock drainage (ARD) related problems at numerous (>40) locations across all five geologic regions of Virginia, USA. Potential acidities ranging from >100 to develop a statewide sulfidic materials risk map; document ARD impacts to soil and water quality and engineered structures; and develop methods to assess site-specific risk potentials within a given highway corridor. A statewide sulfidic materials GIS risk map was developed based upon the state digital geology map which assigned four levels of relative risk to all mapped strata based upon predicted lime requirements and probabilities of encountering highly reactive materials. Non-highway construction activities have also routinely disturbed sulfidic materials, and a recent airport project in northern Virginia resulted in over 150 ha of extremely acidic (pH 45 mg/L) run-off from this site heavily damaged a receiving stream, partially due to the fact that it dissolved the galvanised steel water control structures in stormwater detention basins, leading to direct discharge of run-off and sulfidic sediments. The airport area was treated and revegetated in 2002 with a combination of lime-stabilised biosolids, straw mulch, and acid-tolerant grasses. Water quality in a receiving second-order stream quickly responded to the treatment, but some release of N was also noted as a secondary effect. Collectively, these results point out the importance of accurately assessing the potential for excavation of sulfidic materials in construction environments, and the necessity of developing toxic materials handling strategies similar to those employed in mining environments.

Jan 1, 2003

Economic and technical reasons forced the mining industry all over the world to increase the unit size of mineral processing equipment. in large flotation cells, this development leads to problems in areas of air dispersion and keeping solids in suspension. Outokumpu, an operating mining company, designed and developed a mixing mechanism for large flotation cells at its own concentrators and also studied problems related to tank design. Ideal conditions for flotation can only be achieved if the flow pattern created by the mixing mechanism fits well into the tank configuration and the risk of short circuiting is minimized. In large deep flotation cells, four different zones can be found which improve the behaviour of large cells when compared to small cells. Selectivity is increased and in some cases final concentrate grades can be produced from the rougher cell. The largest units have also been used as final cleaners in some installations. When modernizing old plants by installing fewer larger flotation cells, immediate and substantial savings in power consumption are achieved. Additional power savings are made in pumping costs because of simpler circuit design and decreased circulating loads

Jan 1, 1978

By Luke K. A

Pressure on production at New Zealand China Clays has led to the development of a dewatering control loop for fine halloysite china clay. The development was based on the analysis of data from the automation of plate and frame filter presses. The analysis of the data has led to process changes, and the ability to quickly solve dewatering problems. As a result of control in the dewatering circuit press times have reduced on average 117% and output has increased proportionally.

Jan 1, 1989

Slope stability is a critical safety and production issue for open cut mines. The æslope stability radarÆ has been developed to remotely scan a rock slope to continuously measure the movement of the face. The system can detect and alert movements of a rough wall with sub-millimetre precision, and with reliability and resolution. The advantage of the slope stability radar over other monitoring techniques is that it provides full area coverage without the need for mounted reflectors or equipment on the wall. In addition, the radar waves adequately penetrate through rain, dust and smoke to give reliable measurements, 24 hours a day. The measurement technique is tolerant of vibrations and overcomes the need for a highly stable footing required by traditional surveying systems, making it easy to move from one location to another. The system is self-powered and designed for minimal maintenance. Radar displacement images, co-registered with digital photography images, are transferred from the radar site in the pit to the mine office via a radio telemetry link. Custom-written software provides mine managers and geotechnical engineers with a complete picture of slope movements over defined time intervals. The time-history of the movement of any selected points or regions on the slope can also be displayed. Also provided is the ability to set movement thresholds that will trigger alarms at the radar site or mine office. The system has been used at numerous coal and metalliferous mines in Australia, and has provided real-time monitoring of slope stability during active mining operations. More than 20 rock wall and spoil failures have been captured by the system, and on every occasion adequate warning was provided to mine operators. The high level of movement precision and broad area coverage of the rock face provides a better understanding of the geodynamics, which leads to extra warning time. This technology enables a radical change in the management of risks in open cut mining operations.

Jan 1, 2003

By Clarke DS, Sporli KB

Structure is an important control in the localisation of gold mineralisation in epithermal systems. There has been, however, only limited investigation of the structural elements involved; such a study is currently directed at the gold deposits of the Coromandel Volcanic Zone (CVZ). Here, mineralised veining and brecciation ranges up to tens of metres in thickness. Dips of veins are mostly steep, but not vertical, and there is a significant number of low angle veins.The structural control of epithermal deposits may be considered on four scales. At the mega-tectonic scale, pre-volcanism fault patterns mostly relate to separation of the New Zealand micro-continent from Gondwana. The major structural controls on mineralisation at this scale, however, are associated with the volcanic arc processes responsible for the CVZ. Post-mineralisation faulting are linked to the Hauraki Rift and the Colville Ridge-Havre Trough system. Regional scale faults controlling the distribution of gold deposits are the product of these tectonic events; much of the faulting may relate to rifting and calderas, but further work is required to demonstrate this. Detailed study is also needed on vein systems at the prospect scale to validate models of brittle deformation responsible for such systems. Evidence that a variety of structural mechanisms dominated in different deposits is found at the vein scale, with Coromandel gold deposits being classified according to their different styles of vein-fill texture.

Jan 1, 1990

By Ault A. R

The recent modernisation program at the Risdon electrolytic zinc smelter of Pasminco Metals - EZ (PMEZ) inyolved significant changes to the composition of cell electrolytes. The most significant were increased acidity and sulphate level, a reduction in Co level, and the replacement of 2-naphthol in the additive mixture with licorice. In determining acceptable operating ranges, a relatively large number of industrial deposition tests under controlled conditions was required. The cathode zinc deposits so produced were examined in terms of overall appearance, crystal structure according to X-ray diffraction, and a micro-roughness parameter. Beginning with typical deposits produced in the presence of an excess of one of the addition agents glue or antimony or a mist suppressant (licorice or 2-naphthol), a simple classification system was developed. In this system, the deposits are divided into the following types: Doughy, Pinholed, Compact and Stressed. There was a weak correlation between deposit type and crystal orientation. In terms of ease of stripping, observations in plant operations showed that only Compact and Pinholed were consistently acceptable. Current efficiency was normally maximised by producing a Compact deposit. Process variables such as zinc concentration, temperature and the use of strontium carbonate were found to cause changes in deposit type if the reagent mixture used was unchanged. From the knowledge gained, guidelines were developed to allow glue and antimony additions to be altered to fit new circumstances. The simple classification system was first used to expedite recovery from undesirable morphologies and then to optimise individual cell units operated under substantially different conditions. It is believed that finer control could be exercised by determining the micro-roughness of Compact deposits. However, difficulties can arise if sudden, large deviations occur and go undetected. Suggestions are given for an improved additive control system. The classification system developed has been compared with published information in the literature, and good correspondence was noted suggesting a predictable relationship between short-term, laboratory deposition tests and observable phenomena in industrial electrowinning cells run under steady conditions.

Jan 1, 1993

A small-charge rock excavation method based upon the Penetrating Cone Fracture (PCF) technique has been demonstrated to be capable of excavating the hardest of rocks. The PCF technique involves drilling shallow holes in the rock which are then pressurised at the bottom by a propellant charge device. A controlled fracture is initiated at the hole bottom comer and propagates in such a manner as to excavate the rock at an energy efficiency three to five times better than explosives. Due to the low flyrock velocities and airblast pressures realised with PCF breakage, the method may be used in close proximity to equipment and personnel and is thus ideally suited for integration into continuous hard rock excavation systems. Over the past 18 months full-scale testing of the PCF method has been carried out in mines in the US and Australia. This testing has utilised a 76 mm diameter gas injector for hole pressurisation and employed propellant charges ranging from 80 to 320 gm. In addition to extensive data on rock excavation performance, data on ground motion, dust, carbon monoxide and air blast have been obtained. These data indicate that none of the parameters associated with PCF breakage are detrimental to the development of PCF-based, continuous-excavation machines. Machines employing the PCF method may range from simple single-boom machines for secondary breakage and small precision-blasting jobs to integrated systems with several booms, continuous mucking capabilities and ground-support equipment for drifting and tunnelling.

Jan 1, 1993

By Haines P. W, Sweet I. P, Rawlings D. J, Page R. W, Plumb K. A

Current regional geoscientific studies across the McArthur Basin as part of the National Geoscience Mapping Accord by the Northern Territory Geological Survey and Australian Geological Survey Organisation have provided a significant amount of new data which has enabled revision of the stratigraphic and chronologic framework of the basin. This paper provides an overview of these results, with particular emphasis on new results from Arnhem Land.

Jan 1, 1994

By Ingham PD

Selection of equipment for a mining operation, such as Mount Isa Mines, requires certain parameters to be correctly defined. Management control is essential for monitoring, improving and future purchase of equipment. Some research is being done independent of supply manufacturers. Observations about future outlook are made.

Jan 1, 1982

The foundation of our industrial welfare lies in the success of our primary industries, and, so far as mining is concerned, it is hoped that for many years it will be a most important primary industry in Western Australia.

Jan 1, 1927

The paper describes the reasons for developing, specifically in South Africa, dense medium processes to allow baths to operate at low (about 1,35) and high (about 2,0) cut points. Low density processing was developed to meet the demand for low ash coals; high density processing was developed to enable heavily contaminated raw coals, destined to be burned in captive power stations, to be de-shaled without loss of combustibles. The anticipated and actual technical difficulties of operating baths at such density extremes are described, and the results from operating plants outlined.

Jan 1, 1987

The production of 100,000 tonnes per year of synthetic rutile from the processing of ilmenite, coal and copperas (iron sulphate) produces 200 cubic metres per hour of effluent water. A 2.0 hectare biological filter, comprising natural and man- made wetlands, has been built into the last stage of the effluent water treatment system. It is an area of shallow water (

Jan 1, 1988

The use of black and white and colour infrared film in remote sensing of natural resources, is reviewed. In heavily-forested areas such as New Zealand, the main value of the method is in surveying the vegetation cover to detect the existence of plant communities characteristic of specific geological formations, By contrast, in and areas of Australia where the vegetation cover is sparse and where rocks and soils are well exposed, the method can be used in detecting different rock types or other geological differences.

Jan 1, 1971

Vatukoula, the Fijian equivalent of gold rock, is the name of the community embracing the gold mines owned and operated by Emperor Gold Mining Company Ltd., Loloma (Fiji) Gold Mines, N.L., and' Dolphin Mines Ltd. It is situated in the Tavua Goldfields approximately five miles from the northern coast of Viti Levu, the largest island of the Colony of Fiji.The climate is sub-tropical, there being a definite wet and dry season. The wet season is somewhat variable in length but usually extends from December to March, during which time most of the rainfall for the year is recorded.Although the average annual rainfall is 71 in., more than twice this amount has been recorded. Precipitation at the rate of 5 in. per hour is not uncommon and 15 in. of rain has been registered in 24 hours. The mining methods adopted, therefore, had to suit these wet conditions.The occurrence of gold in the Tavua area has been known since 1872, but it was not until 1932 that discoveries were made which led to the formation of the present operating companies. In 1934 the Emperor Gold Mining Company Ltd. commenced operations, followed in 1935 by the Loloma (Fiji) Gold Mines, N.L., and later by the Fiji Mines Development Ltd., now known as the Dolphin Mines Ltd. Up to the end of 1951 these three mines had produced 2,501,688 tons of ore from which 1,277,881 oz. of fine gold and 347,429oz. of silver were obtained, realizing in Fijian currency £13,025,153.The three mines are situated close togeth.er on contiguous mining leases, and, although under common management, are operated as separate en,tities. Since 1944 all the...

Jan 1, 1953

By V F. Kucherov, V A, V M. Kirienko

In the paper the problems of elaboration and building up the computer engineering system æSafety and stability of underground buildingsÆ as subsystems of the common automated computer system of geomechanical monitoring for deposits of mineral resources are considered. The theoretical bases and techniques of calculation of underground buildings stability are considered. The example of elaboration of such system for a Starobin deposit of potash salts (Belarus) is considered.

Jan 1, 2003