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The mining industry is generally regarded as a high risk industry, mainly because of the difficulties in estimating the tonnage and grade of mineral resources, the fluctuations in metal prices, mining problems and other problems which occur with mining in offshore and remote locations, such as appropriation or disruption to supply. As a consequence, finance providers require a high reward from mining projects. In the past two decades, the development of "mega" projects has led to the packaging of the finance becoming more sophisticated. Some would see this move as a measure of the evolution of banking rather than an intrinsic facet of mining finance itself. Project financial managers now require a thorough knowledge of all the financial tools which are available and have to be aware of the funding options so that they can put together a finance package which minimises the cost of the financing with the risk spread adequately between the partners of the financing. The different sources and types of finance for mining projects are described herein along with the factors which determine their costs. To understand the ramifications of financing mining projects, it is essential to appreciate the fundamental difference between debt and equity, which illustrates the importance of gearing. Costs of finance are determined by the interaction of supply and demand forces. Bankers and other financiers have become more adept at isolating a wide selection of risk elements and have devised a formidable range of insurance mechanisms. There is still a lot of money looking for good project risks and if a good project is properly presented and structured, financing can be obtained in today's market.

Jan 1, 1990

CENTRAL mine ore consists mainly of galena and marmatite in a siliceous and rhodonitic gangue, the average assay values being approximately 11.5 oz. per ton Ag, 14.5% Pb, 14.5% Zn, 1.3% Ox Pb, 0.3% Ox Zn.Owing to the 1923 fire in the underground workings, much of the ore now being mined has been subjected to a certain amount of oxidation, as shown by the oxidised values above.This factor is of great importance from a flotation point of view, as a sulphide surface which has been subjected to the influence of oxidation is not as amenable to flotation concentration as a fresh sulphide surface. The importance of this factor is increased when a differential flotation is to be made, and, as in the case of Central mine ore, the sulphide, which is to be floated first, has been oxidised...

Jan 1, 1931

By Sharpin P. C

The countercurrent gas-solid heat transfer during the drying of brown coal briquettes in the pilot carbonization plant at Morwell has been analysed and theoretical gas and solid temperature distributions through the drier have been calculated. Although the calculations rest on several simplifying assumptions, the theoretical temperature distributions compare well with those observed in practical operation. Valuable conclusions are reached as to the effects of changes in drier operating conditions on the rate of drying of the briquettes which controls the strength of the char produced. The analysis shows why a limitation was reached in the improvement of char strength in the pilot plant in 1961 due to the performance of the drier and a prediction is made of a way in which the limitation could be overcome.

Jan 1, 1966

By J E. Askew

The rapid expansion of gold production in Australia over the last five years can be attributed in part to the development of selective mining techniques for open pit gold operations. These techniques allow an increase in head grade with a substantial reduction in mill feed tonnage, as compared with traditional open pit designs. As a result, the capital requirements for mine development and mill construction are substantially reduced, improving the cash flow profile in the early years of operations. To put such a design into effect, the emphasis of mine production must be on producing gold, rather than tonnes of ore. Mine planning at Martha Hill has been based on such a philosophy. After the quantity and grade of the resource had been defined, the exploration programme was increasingly concerned with the local variability of ore zones, and with determining the position of values within broad ore-definition envelopes. The purpose of this work has been to allow the prediction of the tonnages and grades achievable from various levels of the pit when mining selectively using hydraulic excavators. The studies have so far indicated that the Martha Hill deposit can be mined selectively during the early years of production. The additional costs for detailed grade control and a reduced digging efficiency are more than compensated by the exclusion from the mill feed of much valueless material.

Jan 1, 1986

The Macraes Mining Company Limited was listed on the New Zealand and Australian stock exchanges in January 1990, and the proceeds of the float were used to purchase a 70 per cent interest in the Macraes Gold Project, previously owned by BHP Gold Mines (NZ) Limited. Macraes Mining has had a 30 per cent interest in the project since May 1984, when it was incorporated. Project financing in the way of a gold loan was secured in February 1990 and construction commenced shortly afterwards. The mine construction activities were completed within nine months and the mine commenced operations in October 1990.

Jan 1, 1991

By G de Jong, W Sunyoto, K Sari, P Silalahi

"An EXTENDED ABSTRACT is available for download. A full-length paper was not prepared for this presentation. The Big Gossan mine is operated by PT Freeport Indonesia and is one of the largest stope-and-fill mining systems in the world. The Big Gossan deposit is a ~200 m wide, 1200 m long and 500 m high steeply north-east-dipping to subvertical skarn body at the Cretaceous-Tertiary Ekmai-Waripi contact. The copper-gold mineralisation, with a 1.3 per cent copper equivalent cut-off grade, occurs mainly proximal to the Ekmai-Waripi contact in the garnet-clinopyroxene prograde skarn at the base of the Tertiary Waripi formation and partly distal to the contact in the tremolite-actinolite retrograde skarn of the Tertiary Waripi formation.The Big Gossan stope mine is designed from 2540 m to 3020 m above sea level. Present active stoping operations occur at level 2540 mL to level 2640 mL and are done in a primary and secondary stoping sequence. The width and length of the stopes is 15 m and 20 m respectively, while the height of the stope varies between 20 m and 40 m, depending on the ground conditions. The stability of the stopes is visualised in the Mathew’s Stope Stability graphs. These graphs and actual Cavity Measurement Scanner measurements on the stope will predict and show the overbreak and underbreak, which affect the reconciliation of the mined stope and also the pillar stability between the primary stopes. Geological factors like major structures, joints, veins and alteration intensity are important factors that correlated with the stability of the Big Gossan stopes.CITATION:Sari, K, de Jong, G, Silalahi, P and Sunyoto, W, 2015. Stope stability at the Big Gossan skarn deposit, Papua, Indonesia, in Proceedings PACRIM 2015 Congress, pp 139–146 (The Australasian Institute of Mining and Metallurgy: Melbourne)."

Mar 18, 2015

Draft tube circulators are now widely used instead of Pachucas for suspension of slurries in large tall tanks.Precipitators in the alumina industry are an example.Draft tube/tank diameter ratio is critical. Two independent criteria are given for optimum ratio. The hydraulic and energy relationships are defined. These require an impeller of very high specific speed. For a stable and efficient system the impeller should have aerofoil blades with a pitch angle which decreases from hub to tip.The draft tube must be matched to the impeller with inlet baffles above the impeller and flow control vanes below it. Tip recirculation must be suppressed. The tank itself should have a filleted flat bottom.Such a system exhibits the behaviour of axial flow devices with the characteristic undesirable behaviour at low flow.Installed and operating power requirements depend critically on hydraulic design and to a lesser extent on speed reducer efficiency.The problems of re-suspension have been overcome by a patented slot system which also improves behaviour at low flow to permit a more economic design. A number of other practical operating considerations are also discussed.

Jan 1, 1982

By W Skinner, C G. Kelsey, J R. Kelly

The iron ore industry has reached the end of an unprecedented period of expansion triggered by China’s demand for iron ore. Lower ore prices have led producers to focus on optimising mining operations while extracting the maximum tonnage from the infrastructure presently in place or from projects already underway. A rising global surplus is expected to further force ore prices down and lead to output curtailments, which in turn will help to restore market balance. However, investment in the development of new resources and the development of new infrastructure will inevitably become necessary. Making the right decisions in relation to future processing infrastructure in a climate of uncertain demand and price volatility will not be as straightforward as in the past, where expanding the scale of a proposed operation has been the answer to ensuring economic viability. Overall cost and environmental pressures particularly in relation to wet processing will dominate the decision-making process. IMP Technologies (IMPTEC) has anticipated the need for a dry low cost processing alternative, which can open the way for the development of lower grade magnetite deposits and ensure the sustainability of processing in Australia. The lower grade magnetite deposits are generally fine grained and require grinding to p80 of 30 to 40 microns. Historically, the cost of grinding to these sizes has been and remains a key factor determining the economic viability of a magnetite processing operation. The IMPTEC Super-fine Crusher and Cyclomag Separator are the key components of a proposed radically simplified dry processing alternative, which addresses both cost and environmental issues. This paper reports on the results of pilot super-fine crushing and cyclomag separation test work, focused on supporting the feasibility of the proposed dry processing route for the production of high-grade pellet plant feed from fine grained low-grade magnetic ores.CITATION:Kelsey, C G, Kelly, J R and Skinner, W, 2017. Dry processing of magnetic iron ores – addressing cost and environmental issues, in Proceedings Iron Ore 2017, pp 215–220 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Jul 24, 2017

Surface subsidence caused by coal mining operations was the subject of a very successful symposium organised by the Illawarra Branch of The Australasian Institute of Mining and Metallurgy in February, 1973. This symposium dealt with the principles of subsidence and overseas experiences arising out of underground mining. Since that time the New South Wales Department of Mineral Resources and Development (formerly the Department of Mines) has incorporated in the approval for pillar extraction certain conditions related to the monitoring of surface movement. Surveys and plans are required to be kept at mines where total or partial extraction of coal takes place. This paper traces the monitoring of surface movement in the Northern Coalfields of New South Wales over the past ten years. Reference is made to the National Coal Board's Subsidence Engineers' Handbook (1975) and how the guidelines expressed therein have been beneficial. Mining engineers in Australia are able to plan underground workings where minimum subsidence is allowable and are in a position to foreshadow the surface effects where total pillar extraction is carried out. In certain cases such surface effects can be minimised by structural design in buildings or pipelines.

Jan 1, 1980

By Bain J. H

Since zinc was first deposited at Risdon in February, 1917, provision of the most economical cathode assembly has been a subject of extensive research, the major problems being corrosion and efficient use of power.From the corrosion viewpoint, a perfect cathode is one in which the life of the headbar and the deposition sheet are the same. However, corrosion usually concentrates in a narrow zone across the face- of the sheet, resulting in breakages which, before the advent of argon arc welding, meant a loss of a 'complete assembly.Attempts to extend sheet life included use of thicker sheets, multitudinous protective coatings applied with varying degrees of success, re-rolling, and for a time, aluminium consumption was reduced when broken sheets found re-use as protecting strips. This latter economy became impracticable when electrode spacing was reduced for greater efficiency in power utilization.As an integral part of the electrode, the headbar was modified accordingly. Copper headbars, although more corrosion resistant, were replaced by aluminium due to a possibility of dissolved, copper promoting deterioration.Thicker electrodes and regulated spacing reduced internal shorting, whilst provision of knife-edge type supports on both contact and insulator ends of headbars aided in electrode centralising and continuous electrical conduction.After much experimeIitation, an assembly has been evolved which, with the aid of argon arc welding and tbe use of minimum additional aluminium, permits comparable headbar and sheet lives, combined with good electrical conduction throughout the life of the cathode.INTRODUCTION Over 300 tons of zinc are produced daily at Risdon from a purified zinc sulphate solution by electrolysis, the zinc being deposited upon all-aluminium (except for copper contact) cathodes. It is stripped in 72-hour cycles from the cathodes, melted and cast into the customary rectangular slabs.

Jan 1, 1958

Previous methods for measuring the flow of solids in Jnrdraulic conveying have not considered the important effects of slip velocity and particle concentration. In this paper an extension of the method proposed byShirato et al. (J. Chem. Engng. 'Japan, 1: 164-167) for determining mass flow in a vertical conduit is outlined.The present method consists of measuring' the volumetric flow of the slurry (by a magnetic flow meter for instance) and the density of the slurry in two pipe sections of different diameters. Effects of variation of slip withparticle concentration, not previously considered, are allowed.Problems involved in estimating the density of a slurry from differential pressure measurement are discussed.The major problem is the uncertainties in estimating frictional losses due to the wall in two-phase flows. The greater reliability of a more "direct" technique, such as by 'Y-ray absorption, for measuring solid concentration is emphasized.

Jan 1, 1971

FROM time to time articles have appeared in the technical press on the interesting subject of surface combustion. The theoretical part of the problem has, for practical purposes, received ample consideration in those articles, but the number of practical applications of surface combustion referred to has generally been very small.It is the writer's object to review some recent developments in surface combustion, and also to try to arrive at an estimate of its advantages and possibilities. It is not necessary for this purpose to dilate upon the phenomenon of surface combustion itself. Many interesting things have been said on the subject by Pro£. W. A. Bone, of Leeds, to whose researches the recent developments are largely due. A few illustrations may make clear what is meant by surface combustion.Prof. Bone, in an experiment, took a platinum crucible, which he heated in the flame of a Meker-burner. Then he turned the gas off for a second, and, opening the stop-cock again, allowed the combustible mixture to impinge upon the crucible, thetemperature of which was still well below the ignition temperature of the gas. Although no flame was visible at this stage, it was soon clear that, nevertheless, the gas and air had continued to combine, as the crucible would attain a red heat after a few seconds.Another instance of surface combustion was shown by a Mr. Fletcher, in 1882. He placed an iron ball, weighing 3 lb., on a slab of fireclay, heated it for a few seconds with a blow-pipe, and blew the flame out, leaving the gas-mixture still...

Jan 1, 1915

Permitting, engineering and evaluation, detailed design and construction aspects of the Golden Cross goldmining project in New Zealand are briefly reviewed. The extremely lengthy and complicated governmental approval process together with the delaying tactics of opponents of the project are outlined and comment is made on aspects of the draft legislation proposed as part of the overhaul of New Zealand's resource management laws.

Jan 1, 1990

Heap leaching for the recovery of precious metals is a comparatively new and rapidly expanding technology. The practical aspects of heap leaching are described and environmental and economic implications discussed.

Jan 1, 1984

THE Yallourn chimney has aroused interest, as it is, for the time being, the tallest structural erection in Australia. Its height was not decided on, however, with the object of breaking records, but is purely incidental to the purpose which it serves. Theboiler plant at the briquetting works (first instalment) consists of five Babcock and Wilcox land-type water-tube boilers, each of 4510 sq ft. heating su:r£ace and 225 sq. ft. grate area in the form of step grates. Four boilers will normally produce 73,000 lb. of steam per hour at a gauge pressure of 265 lb. and a temperature of 6500 F., the fifth boiler being a reserve. Each boiler will consume about 100 tons of Yallourn coal per 24 hours. Provision is made for future installation of economizers, should it be found desirable. Designing for this condition, and allowing for a waste gas temperature of 3500 F. and an air temperature exceeding 1000 it was found necessary to have a draft of about 1.3 in. (water gauge) at the base of the chimney, and to deal with about 2000 cub. ft. of gases per second. Estimates were made of the cost of providing the necessary draught by means of fans and by means of a tall chill).ney. The annual charges of the two methods differed only slightly, and the tall chimney wasselected as being the more general practice in briquetting factories.Estimates were prepared for brick and concrete chiIlllleys. Yallourn bricks at that time were hand-made, and, while very suitable for domestic work, were not capable of withstanding high compressive stresses. The chimney design to suit these bricks thus required to be on very ample lines, resulting in high cost. Machine-made bricks from Melbourne would cost about £5 10s. per thousand on the site, with extra for radials, so that high cost again resulted. On the score...

Jan 1, 1924

By Turner WG, Short RR

Obviously, the paramount advantages of contract mining have been recognised by mine developers throughout Australia, as evidenced by surface gold mining operations of significant output almost exclusively being performed under contract. These paramount advantages of using an experienced professionally managed contractor result from the mine developer being freed from financing the required relatively large capital expenditure at current relatively high interest rates or in a capital scarce stock market, and from the need to recruit and sustain a large operating work force in a competitive labour market.

Jan 1, 1990

By S A. Myers, T Klein

The Yanacocha mining district is located in the northern Andes of Peru. The project is within the Cajamarca province, 20 km north of the town of Cajamarca and 600 km north of Lima, the capital of Peru (Figure 1). The district encompasses an area of 120 km 2 and is centred on the 78030'west longitude and 7000' south latitude. The project lies at an elevation of 3400 to 4200 masl.

Jan 1, 1999

Effects of High Pressure Grinding Rolls on Platinum-Bearing Ores and the Flotation Response as Compared to the Conventional Ball Mill Three major PGM ore types from the Bushveld Complex of South Africa: Merensky, UG2 and Platreef were comminuted with the use of the high pressure grinding rolls (HPGR). The influence of the feed characteristics and the various operational and design features of the HPGR on energy consumption, throughput, mineral liberation and PGM flotation recovery were investigated. The test work variables included two feed top sizes of 12 mm and 6 mm, specific grinding forces ranging between 3 - 7.5N/ mm2 and zero gaps of 1.5 mm and 3 mm. The results show that the influence of the HPGR operational and design features on energy consumption, throughput, mineral liberation and PGM recovery are ore dependent. The size reduction-specific energy relationships show that the most energy efficient utilisation of the HPGR for Platreef ore was at the lower specific grinding force of 3N/mm2 and the zero gap at 3 mm. For Merensky and UG2 ore on the other hand, the most energy efficient operation was at the higher specific grinding force of 7.5N/mm2 and the zero gap of 1.5 mm. At a specific energy input of 3 kWh/t, reduction ratios (F50/P50) of 6.5, 3.8 and 10 were obtained for Merensky, UG2 and Platreef, respectively for feed top sizes of 12mm. Further application of the HPGR as a pregrinding stage to a ball mill showed a 25 - 30 per cent increase in throughput for Merensky and UG2 ore. Batch flotation tests performed on selected samples appear to indicate that ore comminuted with the ball mill had superior grades compared with that ground with the HPGR. However, Merensky and UG2 ore comminuted at different HPGR operating conditions showed distinctions in PGM recovery. Platreef on the other hand did not appear to show any differences. Therefore, this study highlights the significance of ore type and operating variables in HPGR applications with regards to energy efficiency, throughput and PGM recovery.

Sep 13, 2010

The only economically significant deposit of dolomite in New Zealand is at Mount Burnett, in north-west Nelson. The dolomite, associated with marbles and schists, is complexly deformed, and is of Paleozoic age.A very large quantity is present, although the recoverable amount is to some extent limited by the difficult terrain.Physically the quality of the dolomite is excellent. It is a tough, durable, fine grained rock. Chemically it is a little more variable. The range and frequency o~ the more important impurities are illustrated by hlstograms, as is the "dolomite factor"-a measure of the amount of the mineral dolomite in the rock. lbe dolomite factor averages 84 per cent, the remainder of the rock consisting largely of calcite. Quarrying, milling, production, and uses are described. In 1966 production reached 13,250 tons.

Jan 1, 1969

The uptake of nickel into the lattice of pyrrhotite, Fe1 _1J S was studied experimentally in the temperature range 200°C to 760°C. Nickel from both aqueous solutions and salt melts diffuses rapidly into the sulphidelattice with an accompanying release of iron into the solution or melt. The rate of uptake of nickel and its diffusion into the sulphide lattice were followed by optical microscopy and by analysis with an electron probe microanalyser. Some geological consequences of this phenomenon affecting the distribution of nickel in rocks associated with nickel-iron sulphide ores are discussed.

Jan 1, 1972