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The topic for my address is Sharemarket Floats - Issues for Expert Valuers. I've decided to focus on three areas where current practice in the preparation of prospectus valuation reports for resource companies might be improved. My central theme is that the valuer for a float should augment the usual assessments of the value of the company or its assets, with some input on the way the share market might value the company's shares when they are listed. I will then look at the valuer's role in relation to vendor consideration, last I will look at his role in providing investors with some input on the risk dimensions of the new company.

Jan 1, 1989

By R Barritt, P Scott

Across the globe, it is a common scenario that tailings storage facilities (TSFs) are being decommissioned; however, their subsequent impact on the local environment and landscape can often be overlooked during the mine planning process. In addition, the requirement of a cover system for a facilities closure may not be a priority until the latter stages of the mine/mill operation when potential cover materials may have been utilised elsewhere or, worse, buried. Developing a conceptual design and closure plan for a TSF early in a mining venture is fundamental to its success once operations have ceased. If a cover system is a planned component for rehabilitation of a TSF, it is vital that its design is appropriate to the facility and any local site constraints, such as climate and cover system material availability. It is also strongly recommended that various cover system options are physically trialled at the site by using performance-monitoring instrumentation. Through this process, an informed decision can be made regarding the most appropriate cover system design to meet any regulatory and stakeholder closure objectives and criteria specific to the site in question; however, in order for the cover system’s performance to be determined through on-site trials, it is essential that an appropriate instrumentation design is utilised. Often, little attention is paid to the data that is being obtained, and its importance may only become apparent after several years of monitoring at an expense to the venture. This should not be the case. Many sites have used an appropriate initial planning stage to understand what is required for the successful closure of a TSF, how it can be achieved and how monitoring data can be utilised to prove, or otherwise, that a cover system design will be a success.CITATION:Barritt, R and Scott, P, 2015. Cover system performance monitoring for tailings – are we doing it correctly?, in Proceedings Tailings and Mine Waste Management for the 21st Century , pp 283–288 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Jul 27, 2015

By K Nguyen

The advances in computerised processors and digital microscopic imaging have enabled more studies that attempt to quantify textural information from rock images. However, a texture classification system designed for geometallurgy has always been challenging, as it combines general image analysis techniques and specific texture classifications in terms of the size, shape and orientation of mineral particles. In this paper, a novel texture analysis technique using grey level radial shell association (GLRSA) and spectral angle mapper (SAM) to discriminate between different geological images is outlined. The technique can be applied in routine analysis and characterisation of mineralogical and textural attributes which may correlate with variability in mineral processing behaviours. Using this texture analysis technique, a set of small texture reference images, a texturelet reference library, has been identified from a suite of drill core images. Rock types are classified according to the proportion of each texturelet type recognised. The library is site specific.CITATION:Nguyen, K, 2013. A new texture analysis technique for geometallurgy, in Proceedings The Second AusIMM International Geometallurgy Conference (GeoMet) 2013 , pp 187-190 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Sep 29, 2013

By R Castedo, P Segarra, L M. López, J A. Sanchidrián, A P. Santos

The cylinder test allows us to determine the expansion of a copper cylinder by the detonation of an explosive charge inside. This test, originally designed for military explosives, has been adapted for industrial explosives with non-ideal behaviour. From data obtained with this test and known physical relationships, an analytical procedure has been developed to calculate the Jones-Wilkins-Lee (JWL) equation of state parameters for five ammonium nitrate/fuel oil (ANFO) and six emulsion-type explosives. A new radial wall expansion function is proposed considering a non-zero initial velocity with the consequent positive Gurney energy at unit relative volume. A set of equations is established to determine the JWL parameters, three of them obtained at the Chapman-Jouguet (CJ) point and the other three at different relative volumes. These equations, along with some constraints to ensure a physically sound solution, are solved for the JWL parameters by a non-linear least squares scheme. A 2D Lagrangian axisymmetric finite elements (FE) numerical model is developed for each tested explosive to validate the analytical results, in terms of expansion histories, with good agreement. This confirms that the set of conditions, constraints on the parameters and least squares calculation used constitute a robust methodology that fully captures the physics of the detonation products expansion involved in the cylinder test.CITATION:Castedo, R, Sanchidrián, J A, López, L M, Segarra, P and Santos, A P, 2015. Jones-Wilkins-Lee parameters for civil explosives, in Proceedings 11th International Symposium on Rock Fragmentation by Blasting, pp 57–64 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Aug 24, 2015

By Brown K, Francis D

The Yallourn Open Cut Mine has recently commenced mining operations in the new East Field which will supply the 1450MW Yallourn W Power Station for the rest of its 30 year design life. The authors describe the design and implementation process followed during the rehabilitation of the areas disturbed by works associated with mining in the East Field. One area of the East Field, the old external overburden dump, has been of particular interest and is discussed in detail. A discussion on the fire protection considerations is included as these are critical and often misunderstood as being contrary to good rehabilitation design practice. Finally, the development of a master plan for the rehabilitation of the Yallourn Open Cut in general, incorporating the East Field work, is discussed.

Jan 1, 1992

By K Williams

Marvel Loch South Pit has had a number of stages of open and underground mining activities before acquisition by Sons of Gwalia. The historical pit had achieved a completed pit depth of 150 metres and the shaft and decline mine had reached approximately 220 metres in depth using open stope mining methods. The various mining methods reflect the various economics and industry practice at the time. The South Pit ore zones are medium grade (~2.5 g/t) but have a regular geometry and large tonnes per vertical metre. A number of studies have been completed up to a pre-feasibility stage looking at options to extend the pit depth and to lower the unit cost of gold production. The options considered were the re-optimisation of the pit to determine further cutbacks or the innovative use of an in-the-wall ramp. The in-the-wall ramp (tunnel) would permit the removal of the in pit ramp to expose additional ore that was within the footprint of the ramp design and to provide the opportunity to increase the final pit depth. Similar mining method has only been used at Three Mile (Coolgardie, WA) and Chalice Mine (Norseman, WA). The tunnel would serve as a gateway for further extension of the south mine and the central ore zone via underground mining methods. The ultimate depth of the South Pit has been extended to 310 metres below surface and significant additional ore has been recovered. This paper will give an insight into the various studies to optimise the Tunnel mining method, the determination of the various tunnel dimensions, and the phases of mining to arrive at the completed design.

Jan 1, 2003

By S Vianna

Mineralogical information obtained from plant surveys is subject to errors, both due to sampling and experiment. To reduce these errors, and to ensure that information is consistent, a data reconciliation model has been developed for mineralogical data. Its capability includes mass balancing size data, total assays, assays within size-classes and liberation data. Unlike any other mass balance package, this package also allows reconciliation of the complex mineralogical information. For example, particles cannot simply be treated as binary, but consist of combinations of many minerals. Hence the distribution of mineralogical information is multidimensional and the mineralogical distributions are referred to as multiphase. In this paper, the different levels of mass balancing are explained, including how to mass balance liberation data. Furthermore a new technique based on probability theory can be used to infer distributions even when there is insufficient information to perform a mass balance, and this technique is also explained. Results for various stages are given.

Jan 1, 2002

The known coal resources of South Australia are either of poor quality, or expensive to extract, or both. Export quality coal occurs only at great depth in the remote north of the State; the balance of the State's coal resources are suitable only for local electricity generation. Currently there is only one coal mine in the State, at Leigh Creek. This provides fuel for approximately 34% of the State's electricity generation, the balance being fuelled by natural gas. In the near future, new fuel sources must be developed to augment diminishing supplies of natural gas, and to cater for increasing demands for electricity. The South Australian Government has determined that future electricity generation will be based on the combustion of local coals. The geological and geographical environment of the known coal deposits and the quality of these coals are such that the most up to date and innovative technology must be applied to both extraction and combustion processes. The Government, the Electricity Trust of South Australia, and several Australian and overseas companies have embarked on an extensive research and development programme to ensure that these otherwise useless resources can be developed to the benefit of the State.

Jan 1, 1987

Geologists often classify ore textures on the basis of the origin of the rock in which they form and the grade of one or more minerals within the ore (Sinclair and Blackwell, 2002, pp 32-36).  Metallurgists, on the other hand, need to know how best to process the ore in order to extract the valuable minerals from it (Petruk, 2000). Geological classification has the following disadvantages:it requires the services of skilled economic geologists, of whom the supply has been dwindling for many years;it is subjective, depending on the perceptions of the individual geologists who make the classification; andit may relate only weakly to processing requirements of the ore. We describe methodology for automatic classification of ore textures from images of drill core. The images analysed are æclassifiedÆ images, in which a particular mineral (or mineral group) is assigned to each pixel. The new methodology is intended to:provide a quantitative and reproducible alternative to traditional geological texture classification,relate to process mineralogy of the ore, andimprove the ore-texture-related input to orebody domaining and geostatistical block models.

Jan 1, 2008

By Warren L. J

In the mineral processing industry solid-liquid separation within a thickener usually requires the addition of a synthetic flocculant to enhance the settling rate of fine particles. The characteristics of the resulting flocculated suspensions may vary considerably depending upon the physical and chemical conditions which prevail during the flocculation process. For example, parameters such as flocculant type, dosage and solution concentration, surface chemical characteristics of particles and the suspension agitation conditions can influence the degree to which the particles aggregate. Aggregated suspensions exhibit various structures, and range from those composed of small, dense aggregates to those containing large, voluminous aggregates. The size distribution and structural type of the aggregates which form within the feed-well of a thickener can have a dramatic effect upon overall thickener performance. Thickener performance cannot be optimized without optimization of the aggregate structure produced in the feed by synthetic flocculant addition. This has required the development of new techniques to quantify the nature of aggregated suspensions, details of which are presented in this paper.

Jan 1, 1989

By T J. Orr

The changing demographics of the mining industry make successful passing of knowledge and skills to the next generation critical. Training methods and technologies are being developed to meet this need. Twenty years ago classroom training was largely a one-way transfer of knowledge through instructor lectures. In contrast, instructors today can use virtual reality technologies to guide trainees as they fully participate in learning experiences. Trainees can interact with the virtual work environment, co-workers, and equipment without being exposed to workplace hazards. The speed of advancement in mine safety, health, and production training shows no sign of slowing in the next 20 years. Researchers at the National Institute for Occupational Safety and Health have studied and participated in the evolution of miner training. A look at training materials they have created in the past and those they are currently developing reveals changes in methods and technologies over time and also key characteristics which have remained constant. Possibilities for the future can be discussed in the framework of an implementation of virtual reality in new miner training sessions. The example computer-based training package teaches new miners to read mine maps and provides opportunity to practice navigation skills in a virtual mine. With this æserious gameÆ, trainees experience the look and feel of moving through an underground coal mine while in the safety of their classroom. During field-testing in 2007, trainees and instructors responded very favourably to this new way of learning. The software was usable by mine trainers with even limited computer expertise and could be installed on the affordable computers they were using for their more traditional slide presentations. The Underground Coal Mine Map Reading TrainingÆs foundation on past successful development strategies and its acceptance by todayÆs instructors and trainees provide valuable lessons for developing training materials, strategies, and technologies for miningÆs future.

Jan 1, 2008

By J Nortier, J Dray

There is no single factor that determines the appropriate capacity for a mining project. It is driven by the size of the resource, the capacity of the market, the availability of capital, the availability of power, the availability of water, and a myriad of other considerations. There is also no single solution to the question of how big the project should be. However, to develop a project, the study team needs to select the configuration options that it regards as the best for the project. To be able to make this selection, the study team should consider the range of available options and do so at a level of detail that gives it confidence in the conclusion but does not lead to multiple detailed design exercises. Having considered the range of options, and with a clear definition of the project owner’s objectives and constraints, the work to be carried into feasibility studies can be focused appropriately. This paper discusses the process of completing strategic mine planning to identify project configuration options to assist in the selection of the processing plant throughput rate (Capacity Study) for a large greenfield open pit mine. The processes described in this paper allow for the basis of design to be set for subsequent studies that meets the objectives at a risk profile acceptable to the owner.

Jun 22, 2022

I am honoured to be given the opportunity to share with you my thoughts on what will be the essential characteristics of æThe Mining Company for the 21st CenturyÆ. For me the 21st century is all about globalisation and the challenges and the opportunities that globalisation presents for the mining industry. To play on the global stage the successful mining companies must develop profiles that are global in: their operations diversity, their partnership relationships diversity, their customer relationships diversity, their workforce diversity, and their shareholder diversity. In my view æbigÆ will count in the 21st century, but big overlaid with quality: quality assets, quality people, quality partners, quality customer relationships, and quality image and reputation. Last year, Rio TintoÆs Leon Davis said when he addressed the Minerals Council of AustraliaÆs annual conference that Australian resource companies that wish to become global operators must develop an unequivocal international identity that will make that company a known and trusted quality wherever it seeks to do business. He went on to say that structuring and operating a business in a way that consistently manifests the qualities that inspire respect and evoke confidence is vital. I absolutely concur with what Leon said. Unfortunately, the fact is that, as we stand at the beginning of the 21st century, our industry and many of our companies are no better accepted by the world community than was the case five, ten, 15 or even 20 years ago. In fact, in some cases, the warmth of the acceptance may have subsided. To some extent the demonstrations that we saw recently in Seattle and Davos reflect a growing distrust, disquiet and cynicism in our communities. Here, however, I see an opportunity. While on the one hand the mood of disquiet presents many challenges, it also provides those of us who are willing to get out on the front foot in addressing the issues, and engaging in the dialogue, with a very significant opportunity to create a major competitive advantage. It provides the opportunity to earn respect and the opportunity to develop a reputation as a company that is sought as a joint venture partner and a company that is welcomed by governments and communities. Importantly, also, people will seek employment with such a company and will invest in such a company. The challenge is to change the way we behave and the way we are perceived by all the key stakeholders. Many of our industryÆs traditional skills are now commodities à many can be à and are out-sourced. The new critical skill for the 21st century à the real competitive advantage à will come from creating a real and genuine understanding of our role and what we stand for. Everything we do should demonstrate not only sound business principles, but also an understanding of the political, social, cultural and environmental impacts of our activities - at an international and a local level. This concept isnÆt new - but for large companies such as BHP, where we operate in more than 20 countries with diverse cultures, languages and religions - it requires enormous energy and dedication. It is complex. It is difficult. But I believe it is absolutely fundamental to our future.

Jan 1, 2000

By Thomas R. J

Following asmallnumberofpollutionincidents involving the death of cattle from ingestion of cyanide that had escaped from gold processing plants, the Queensland Government undertook to develop competent guidelines addressing this problem. These guidelines, "Queensland Government Guidelines on Prevention of Water Pollution from Cyanide Use in Gold Ore Processing", issued by the Department of Environment and Heritage, Department of Resource Industries and Water Resources Commission, cover hydrology and general house-keeping intended to reduce the likelihood of significant impact from a spill or unintentional dis- charge of contaminated material. There are three major advances for Queensland embodied in this Guideline: ò the use of a design approach that gives site specific standards rather than trying to give a multitude of standards broad enough to cover all situations, ò the use of hazard assessment and a "critical period" hydrologi- cal design technique, and ò new monitoring and reporting requirements. The guideline is presented here in a summary form:

Jan 1, 1991

The Electricity Commission of New South Wales operates three power stations located on Lake Macquarie and Lake Munmorah. Coal for these power stations is supplied by three collieries operated by the Electricity Commission, three operated by the State Mines Control Authorityrand one privately owned. Most of the coal used in these power stations is won from the Great Northern seam which lies at depths of up to 220 ft at Awaba and at depths of the order of 600 ft at the remaining mines on the southern end of the field.

Jan 1, 1972

By S Hughes

The smelting of concentrates and secondary materials has been subject to increasing challenges in recent years due to declining grades of feed materials, increasing impurity levels and ever more stringent environmental regulations. In addition there has been a growing focus on maximising the efficiency of energy usage and recovery of values. New opportunities have been created with rising metals prices and improved systems for the collection of secondary materials, giving rise to a need for more flexible process solutions.This paper focuses on a number of specific cases where a process solution has been developed using the Outotec« Ausmelt Process to meet particular feed material challenges and overcome limitations inherent when employing traditional pyrometallurgical processes.The first case involves the development and commercial implementation of a smelting process to recover values from zinc smelting residues typically deposited into dams as a waste product. The second case describes the application of the Ausmelt process for the smelting and converting of secondary copper feed materials, including e-waste. These materials contain a wide range of metals and plastics and need to be processed appropriately to maximise the recovery of values whilst avoiding environmental problems. The third case study covers the smelting of nickel concentrates containing elevated magnesia levels as well as nickel bearing catalysts with high alumina content, neither of which can be readily processed when employing traditional pyrometallurgical technologies. CITATION:Hughes, S, 2013. Pyrometallurgical process solutions for complex raw materials, in Proceedings MetPlant 2013 , pp 519-530 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Jul 15, 2013

By Warren M

Many Australian tunnelling and mining companies regularly investigate different methods or equipment in an attempt to keep ahead of their competition. Sometimes the result is a new approach or process which wins a tender or provides an advanced solution to a problem.The Australian Government has a policy of encouraging forward thinking among Australian companies and provides a range of incentives. One of these incentives is currently available retrospectively to 1985 - 86, and the registration process is relatively simple with only one form to be completed. Companies who investigate methods of raising productivity could be reimbursed for the costs of the investigation.

Jan 1, 1993

By Hungerford F

Long-hole drilling technology has rapidly advanced this decade beginning with rotary drilling/pump down camera surveying and culminating in down-hole motor drilling with cableless electronic surveying over the past two years. With the latter system, a high level of directional control is achievable in boreholes up to 1000m long. Past long-hole drilling across the industry has seen a mixture of success and failure. With these experiences, new and improved techniques and equipment have evolved. A number of long-hole drilling options are available as variations on the basic rotary and down-hole motor methods. They involve different levels of cost and equipment and vary in their suitability in different geological environments and definition of targets. Long-hole drilling is mainly target applied, either in defining geological structures in greater detail, or proving important mining areas such as longwall blocks, to be free of structures. Successful drilling hinges on a combination of drilling expertise, quality and appropriateness of equipment, understanding of geological conditions and good colliery support. Drilling expertise forms part of sound interpretation through keeping relevant records, understanding the reasons for changes in drilling conditions and implementing specific tests such as coring. The final interpretation builds upon all other available geological information. There is still scope for research into improved techniques and equipment. The use of long boreholes for geophysical surveys has high potential.

Jan 1, 1988

The Coal Corporation of New Zealand Ltd (CoalCorp) is the largest coal producer in New Zealand, with extensive properties in both the North and South Islands. CoalCorp's North Island operations are kilcmetres to the south of Auckland. opencasts, are located in the catchment wildlife, historical and scenic values. in this catchment is the single most mining operations. centred on Huntly, a town some 80 Five coal mines, four of which are of Lake Waahi, a lake with significant The discharges of mine lodgement water important environmental constraint on Throughout New Zealand the use of water is controlled by a statute called the Water and Soil Conservation Act 1967. All industrial water users are required to hold Water Rights, which are in effect licences to take, use, dam, divert or discharge water. Water Rights are obtained through a legally defined process and any potentially affected party has the per to object to their granting. A special tribunal hears the evidence for and against an application, and issues its decision, which is reviewable in a higher court on Appeal. Rights, if granted, are issued subject to conditions and, in the case of mining discharges, limits would be set on flaw rate, suspended solids concentrations, turbidity, pH and the concentrations of any potential toxicants. This paper presents a case study of an integrated, catchment wide water management plan for Lake Waahi, that was prepared by the author, and others while the author was in the employ of CoalCorp, and its predecessor, State Coal Mines. The author is grateful to CoalCorp for their permission to submit this paper.

Jan 1, 1988

By Manlapig EV, Davis JJ

A methodology for modelling dense medium cyclones is presented for cyclones operating under conditions which avoid particle interference or apex crowding. Particle interference and apex crowding are shown to result in less efficient separations and represent undesirable regimes of dense medium cyclone operation. In order to avoid apex crowding, suitable medium to ore ratios and apex diameters should be used. Cyclone density differentials should be kept below approximately 400kg.m 3 to limit loss of efficiency due to excessive particle recirculation within the cyclone. The relationship between size-by-size partition curves shows that the flow split and density of the medium within a cyclone can be related to two new parameters, the pivot partition number and pivot density. The parameters are common to each partition curve in any set of size-by-size data and are mathematically related to the familiar performance characteristics, ecart probable (Ep) and separation density. The resulting expression confirms that the Ep and separation density are directly related.

Jan 1, 1986