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By Goldie R

The use of options theory in business has become well established in recent years and is currently one of the most exciting areas of current finance research. The theory can be used to value levered firms, and streams of contingent payments. This technique also has very practical applications in the areas of capital investment analysis and the valuation of equities in the natural resource industry. The use of options theory has been well accepted and used for many years in the trading of commodity options and futures contracts, in banking and insurance and in other industries. It also can be used to value such diverse contingent claims problems as the income tax liabilities of the firm and share underwriting agreements.Its application to the more complex options, such as those present in the resource industry, is only now becoming known. This lag is, at least partially, due to the difficult mathematics involved in solving complex options problems. Another factor is the almost overwhelming abundance of uncertainties, such as grade, tons and other natural risks, which must be considered in the evaluation mining projects.

Jan 1, 1990

By D Brennan, S Jahanshahi, F Jorgensen

The recycling of metals can be very efficient with careful selection of the material being recycled. The volume and value of recycled ferrous scrap has lead to the development of steel mini-mills which in turn has caused major changes to the steel industry. Although much smaller in volume, the recycling of lead is very significant, with battery recycling accounting for 60 per cent of annual world production. This high recycle rate can be attributed to the relatively uniform feed-stock from lead-acid batteries. The recycling rates of other metals are considerably lower due to longer use and non-uniform product usage that results in less efficient segregation and processing. It is clear that recycling of metals has advantages but its sustainability is uncertain. What are the key benefits of metal recycling? Metal recycling has technical, economic and social impacts. It is relatively easy to assess recycling on a technical basis, but the social impacts are harder to evaluate. This paper examines some of the issues in evaluating the sustainability of metal recycling.

Jan 1, 2002

The Lennard Shelf Operations owned by Western Metals Ltd evolved from the Cadjebut Zinc Lead Mine (BHP) in August 1994. Original production of 0.5 mtpa will rise to 2.0 mtpa at the end of 1998. Employees work a multiple of fly-in/fly-out (FIFO) rosters from the Kimberley region and the WA Capital. The three underground mines, treatment and services departments will employ approximately 300 people by the end of 1998. The expansion of the Lennard Shelf Operations as a remote mining location was based on a fresh look at management systems and employee rosters which were generated from many years of mining experience. This paper will endeavour to summarise these experiences and analyse some of their outcomes. Dealing with several mining methods, engineering difficulties, logistical problems and climate extremes, the Lennard Shelf Operations has managed social/employee issues with excellent results. Much time has been spent to get this correct for the Lennard ShelfÆs own set of circumstances. Employees and associated companies must expect continuing changes and improvement as Western Metals strives to continually improve its management systems and employee rosters.

Jan 1, 1998

By W A. van der Westhuizen, Beukes G. J, Vermaak J. J

Large parts of the arid northern Cape Province South Africa are blanketed by Quaternary cal- crete under which potential base-metal ore- deposits may occur. In an attempt to examine the nature of the distribution of such ore-re- lated elements in a calcrete environment, calcrete and soil samples from the copper-nic- kel prospect at Jacomynspan and the copper- zinc deposit at Copperton were examined. Both deposits form part of the Namaqua mobile belt. CALCRETE GENESIS In Southern Africa calcrete is restricted mainly to the western two-thirds of the sub-continent, south of the latitude 17¦ S. Various models have been put forward to explain calcrete genesis and Goudie (1973) and Netterberg (1969a) give detailed discussions on this topic. The most popular model for calcrete genesis is one of pedogenic origin. McPherson (1979), Watts (1980), Wright (1982), Arakel (1982), Netterberg (1969a), Goudie (1973) and Multer and Hoffmeister (1968), amongst others, support the hypothesis of calcrete formation by carbonate precipitation from downward percolating calcium carbonate rich soil waters. Calcium carbonate is usually initially precipitated as nodules or grains which can develop to form more compact layers.

Jan 1, 1988

By Yokozawa K, Yamamoto T, Kameoka Y

Japan Construction Method and Machinery Research Institute has been conducting various field surveys of tunnel works and other excavation works, and the cost and efficiency of these two excavation methods have been studied. Based on these data, the costs of blasting excavation and mechanical excavation represented by roadheaders were calculated. The costs were calculated and compared for rocks of various hardness. When the total construction cost is considered, the degree of overbreak becomes one of the most influencial factors, because the overbreak area must be filled up with expensive shotcrete in NATM. So, in the next step, the relation between the excavation costs considering overbreak and the rock hardness was studied using the data on overbreak obtained by the field survey.

Jan 1, 1987

In Australian collieries, solutions to the outburst problem must be implemented in a highly competitive environment which has a low tolerance on negative productivity effects. Solutions are only applicable if the overall viability of the operation remains sound. Minimum time must be spent on alleviation and control measures. This is favoured by simple geology, advanced warning and efficient alleviation and control procedures. Research requirements in support of this include 1. an improved means of predicting the nature and location of outburst zones ahead of the face and, 2. an improved means of measuring the effectiveness of gas drainage. For additional safety at the face, a means of continuously monitoring outburst proneness is required. In general, greater emphasis is required on improved instrumentation.

Jan 1, 1987

Proper technical appraisal of a coal deposit and the determination of optimum open- pit mine design can only be made after detailed examination of a number of interrelated geographical and geological factors. Initial evaluation of the geography and the overall attitude of the coal measures can often determine the most likely coal mining technique. Conclusions reached in the early stage of the investigations frequently dictate the quality and quantity of particular types of data required from further drilling of the deposit. In many cases, insufficient information relating to the overall engineering aspects of a coal deposit is derived from drilling. Little or no attention is paid in the exploratory phase to such things as the specific gravity of selected overburden samples, floor conditions, clay content of the overburden and selected strength tests on cores. This is a direct result of geologists treating coal deposits purely in geological terms without sufficient consideration being given to the engineering parameters required for a proper evaluation of the deposit.

Jan 1, 1977

During 1991 - 1993 the author interviewed approximately thirty senior managers of varying responsibilities in either the engineering, construction or operation of a heavy industrial facility. The purpose of the exercise was to determine the factors driving a deterioration of the working relationship between the engineering and the operating company following practical completion of a major project. From the research a number of conclusions have been drawn as to the root cause of the deteriorating relationship. For this paper we are drawing on this initial research and our ongoing experience of solving problems of this nature to present some fundamentals that can be used to break the breakdown maintenance cycle.

Jan 1, 1998

The efficiency with which it is expected that a particular coal may be burnt in a power station boiler significantly affects the value of the coal. Consequently many laboratory tests have been developed to provide data on the combustibility of coal. Computer modelling of coal combustion has also provided insight into limits on coal burn- out. Such modelling suggests that burnout of bituminous coal in a power station boiler will be strongly influenced by physical limits on the diffusion of oxygen to the individual coal particles. Coal chemical reactivity appears to be relatively less important. As a consequence of the diffusional limits, significant improvement in burnout is achieved either by producing less large p.f. particles or by providing sufficient furnace residence time to burn the large particles. Field data from a variety of power stations supports these cn.clusions. Burnout was also found to correlate well with volatile content for a number of coals from widely different sources. This is expected as the high vola- tile coals produce less residual char to be burned by the relatively slow heterogeneous Combustion.

Jan 1, 1987

The implementation of the Mining Further Amendment) Act, 1970, and later the Coal Mining Act, 1973, placed a requirement on the Department of Mines to accept an initiative in relation to coal exploration and coal mine development which does not apply in the case of other minerals. It is necessary to consider the exploration of the total coal resources of the State when considering exploration rather than one individual basin or deposit. If the level of knowledge of the coal resources in these basins is considered in relation to their potential for development it is possible to allocate broad scale priorities to their assessment. Due to the enormity of the task which involves a conservative estimate of in excess of 400 000 m of drilling to reach a broad reconnaissance level of understanding the involvement of industry with the Department in the exploration programme is necessary. The development of the coal deposits by mining operations must give consideration to a number of constraints apart from the simple availability of the resources. Principal among these are aspects

Jan 1, 1976

By Q Zhou, Y Ma, J Zhu, R L. Frost, P Yuan

A series of organoclays with different surfactant arrangements were prepared by ion exchange. The resulting organoclays were investigated using a combination of characterisation techniques, including X-ray diffraction (XRD), Fourier transform infrared spectroscopy (FTIR), thermogravimetric measurement (TG) and N2 adsorption-desorption. In the present study, the pores within the organoclays were discussed on the basis of the micro- structural parameters, including BET-N2 surface area, pore volume, pore size, surfactant loading and distribution. The results show that both BET-N2 surface area and pore volume decrease from low to high packing density of the surfactant as the average pore size increases. Two basic organoclay models were proposed for hexadecyltrimethyl- ammonium bromide (HDTMAB) modified montmorillonites: 1. the surfactant mainly occupied the clay interlayer, and2. both the clay interlayer space and external surface were modified by surfactant. This study demonstrates that the pore structure of the resulting organoclays has a significant influence on the sorption efficiency and mechanism of p-nitrophenol onto the organoclays.

Jan 1, 2008

The Australasian Institute of Mining and Metallurgy brings together, voluntarily, people with a professional interest in the disciplines and skills which are employed in the mineral indus- try, and in relation to that industry. We come together because we have a mutual interest in improv- ing what is done by the mineral industry, in all its aspects. It is this sense of continuing improvement, of doing better, of doing as well as we can, as our knowledge and skills improve, that unites us in creating and fostering a professional association of like- minded people. We know from our professional training and experience that enormous progress has been made, at an ever-increasing rate, in the mineral industry, particularly in this Century. We know that the mineral industry has played a very major role in providing the means by which so many more people survive to live longer, healthier and more interesting lives, than ever before. Indeed together with the oil and gas industry, which is an integral part of the mineral industry but has achieved its own commercial dis- tinction, it is fair to claim that the mineral industry has played the major role in providing the means for the advancement of the human quality of life.

Jan 1, 1988

A large scale distributed process con-trol system has been successfully applied to the automatic control of aluminium reduction cells at Boyne Smelters. A three stage hierarchy of minicomputers and microcomputers is used to continuously monitor and control conditions in each cell and to manage the data generated during the process.The automation hardware was purchased on the basis of low cost, high reliability, prior use in the aluminium industry and a high level of backup under failure conditions. The hardware has met performance criteria to date.The process control strategies have continually been updated to minimise the energy and raw material consumptions in each cell. A major change to systems software has recently been made to decrease the development time for-future changes. Various low energy potline retrofit alterations are currently being investigated requiring significant changes to the process control strategies.

Jan 1, 1985

By H R. Watli, K L. Davies, J A. Johnson

Novel microbial isolates that readily oxidise iron and sulfur were recovered from samples collected from a spent chalcopyrite/pyrite test heap. Methods were developed to enrich and isolate microbes that thrive in low pH environments and utilise iron and/or sulfur as sources of energy. Screening of these isolates revealed diverse substrate utilization (sulfur, ferrous ion, chalcopyrite, pyrite, glucose) as well as growth at temperatures between 30 - 50¦C. When native isolates were employed, shake flask leaching tests of chalcopyrite concentrate resulted in higher copper yields in comparison to laboratory reference strains Acidithiobacillus ferrooxidans (DSM 583) and Sulfobacillus thermosulfidooxidans (DSM 9293). After 700 hours several native isolates had leached between 20 - 30 per cent more copper than laboratory reference strains during experiments conducted at 45¦C. This research has established a unique culture collection of mining microbes that readily adapt to Australian conditions. Exploitation of these microbes may result in improved leaching kinetics and copper recovery from Australian chalcopyrite ores as demonstrated from shake flask leaching tests. Whilst this research provides a capability for Australian mineral sulfide ores, this technology can be easily adapted to suit ores of any origin resulting in more effective and efficient microbial leaching.

Jan 1, 2004

By Komosa T

The increase in the proportion of sulphide ore treated by the gold mining industry has led to generally higher oxygen requirements. Additions of pure oxygen, hydrogen peroxide and in some cases calcium peroxide, have been proposed as a means of satisfying the oxygen demand and overcoming the problems from reactive sulphides in the ore. Current oxidant addition options and practice are reviewed.Laboratory oxygen demand tests are reported for a suite of ores to show some of the effects of pH and preaeration.Laboratory leach tests at high and low dissolved oxygen levels are reported on two of the ores with higher oxygen demands, and the results are assessed in terms of gold leaching kinetics, ultimate gold extraction, and cyanide requirements.

Jan 1, 1992

By A Saghafi, S Day

The control of spontaneous combustion in spoil piles is an area of concern for a number of open cut coal mines. Spontaneous combustion in spoil may occur when carbonaceous waste materials are exposed to air. In large piles, the relatively high voidage within the pile may allow sufficient movement of air through the pile to sustain oxidation and heat generation. Over the past decade, ACARP and CSIRO have funded a number of projects aimed at providing a better understanding of the causes of spontaneous combustion in spoil piles and the development of control strategies. Work has focused on prevention measures but has also considered measures available to deal with well-developed fires. Field, laboratory and numerical modelling methods have been brought to bear on the issues. Individual projects have addressed: causes of spontaneous combustion including the relative reactivities of mine waste materials; the use of cover layers to prevent spontaneous combustion; the use of flyash grout to control an active fire; the emissions of air pollutants; and the emission of greenhouse gases. This paper provides a description of the work carried out to date with an emphasis on the major findings of the research and its application to open cut mines.

Jan 1, 2005

Seam gases are the most important atmos- phere contaminants in Australian collieries, their importance increasing with depth; C02 as well as CH4 may be important in intruded envir- onments. The generally high rank of the coal, with low moisture content, makes for abnormal dust production. The other contaminants are introduced and subject to better control, in- cluding products of spontaneous combustion. Due to market situations the generally lower rank and higher sulphur coals more prone to self heating are mined less. Future mining at greater depths should see greater problems with atmosphere contaminants.

Jan 1, 1983

By Lindner E, Bosio M

South Australian coals are all low in rank and generally poor in quality, with difficult combustion characteristics. This circumstance makes the selection of a fuel source for future power generation difficult, requiring careful study and detailed analysis of the various alternatives. Combustion characteristics can have a significant effect on plant design and costs, and need early attention in any exploration and evaluation programme. The physical location of the deposits, often remote from established infrastructure and centres of population, is also a major factor in the ultimate cost of power at the poirl use.

Jan 1, 1977

By Moore R

An intensive safety campaign at Mount Isa Mines Limited from 1956 to 1966 saw the lost time accident frequency rate fall to half its original level. A review of the safety programme was carried out in 1967 and in 1968 the Five Point Safety System was introduced. The seven years since its introduction have been years of significant achievement both in production and safety. Improving safety is a fundamental part of Mount Isa Mines Limited's policy and this system has been a major tool in implementing that policy. To be successful personnel need to be prepared and trained for its introduction and subsequently counselled on its use. A carefully prepared programme is required to phase in various aspects of the system and to make use of complementary steps. The system has been a success and it is anticipated that the continued drive to improve the use of principles of the system will further improve safety. It is hoped that this paper will be of value to those personnel concerned with industrial safety in Australia.

Jan 1, 1975

Interest in mineral sand mining in the south west corner of Western Australia began in the late 1940's and significant production commenced in 1956. Early land use conflicts arose because of conservation implications (Ludlow tuart forest), expanded to include post-mining rehabilitation requirements (the Wonnerup mine near Busselton) and today include some agricultural/mining disputes. These latter conflicts are largely caused by the need for mining companies to secure longer-term reserves. To date, deposits containing mineral valued at A$440 million have been sterilized and are unlikely to become available in the future. There is additional pressure being placed on presently available reserves and a pessimistic picture could be drawn, whereby the southwest mineral sands industry ceases to exist by the year 2010. However, sensible land use planning, the support of policticians and the community, and responsible attitudes towards compensation and rehabilitation could, in combination, see the industry maintain significant mineral output until the middle of the 21st century. Examples of deposits sterilized by adverse land use will be given.

Jan 1, 1986