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By E Topal

Risk and uncertainty are attached to mining projects, and making decisions, hedging, future investment and evaluation of mining projects depend on forecasting the future price. The future technologic developments in mining will be primarily influenced by the future commodity prices. A few approaches, with different confidences are proposed to predict price movement in the future. This research introduces a new comprehensive version of the mean reverting jump diffusion model for natural-resource commodity prices. The novel model proposes that the historical data of mineral commodities have three terms to demonstrate fluctuation of prices: mean reversion component, diffusion component and jump component. The model calculates each term individually to compute the future prices of mineral commodities. Subsequently, in the second section of the paper, the model is implemented for monthly historical data of gold price from January 1968 to May 2008. This research is investigating the relationship between the historical oil price and inflation with the gold price. This is followed by a future estimation of gold price fluctuations up to 2018. The results from the application of this new method are discussed in the context of how they accurately replicate the historical gold price and how they can predict the future gold price.

Jan 1, 2008

The Effect of Grinding Aids on Laboratory Grinding of a Cassiterite-Polymetallic Sulfide Ore

Sep 13, 2010

The Geological Survey of the U.S. Department of the Interior is primarily a domestic agency whose responsibility is furnishing impartial data and analyses to the public, private, and academic sectors of the Nation. The Survey concentrates on earth-science issues, such as mapping the land surface, determining the quality and quantity of water resources, estimating the nation's endowment of fuel and nonfuel minerals, and predicting and mitigating geologic hazards, such as those inherent in the tectonically active Pacific Rim. One of the challenges to managing this program is striking a sustainable balance between concentrating on the problems society wants solved today and investing in the research that seeds our vitality for the future. The Geological Survey's role in the Pacific results from the Nation's geography and the Nation's long standing interest in and commitment to the region. The longest segment of the U.S. coastline borders the Pacific Ocean, one of our states is a Mid-Pacific island chain, our lands are 80 degrees--nearly one-fourth--of the Pacific perimeter, and our Exclusive Economic Zone (EEZ) underlies significant parts of the eastern, northern, and central Pacific waters. Thus, the program of marine and terrestrial science operating in these areas make substantial contributions to the world's growing understanding of the Pacific realm.

Jan 1, 1990

The new South Australian Mining Act be came operative in July, 1972. It provides appropriate updated legislation covering pro- specting, exploration and development of mining properties. Anomalies inherent in earlier legislation which provided for the private ownership of minerals in certain areas have been overcome by the vesting of the property in. all minerals in the Crown. Appropriate transition- al and long term provisions protect the right of individuals thereby divested of their former property in minerals. In the matter of pro- specting for and quarrying of extractive minerals, the rights of landowners have been formally recognized, and the concept of rehab- ilitation of quarried areas has been introduced utilizing money provided from a royalty fund especially established for this purpose. Con- temporary company exploration practice is catered for under a new exploration tenement and at the same time the legislation makes provision for the interests of individual pro- spectors. Special provisions have been enacted to cope with the rapidly developing opal mining industry. A feature of the new Act is the introduction of legislation which recognizes enlightened contemporary thinking on the matter of environmental considerations. The Act has also extended the powers and widened the jurisdiction of the Warden's Court. In general,

Jan 1, 1974

By Lawson F

Chrome chemicals are commercially produced by the alkali roasting of the chrome-bearing ore chromite with sodium carbonate. In order to ascertain the influence on the extent of reaction of the replacement of Mg(II) for Fe(II) in the chromite spinel structure and the presence of acidic oxides in the gangue material, a series of roasting experiments was conducted using chromite materials from a number of different locations. The roast feeds and products were chemically analysed and the major compounds identified using X-ray diffraction and scanning electron microscope techniques.Mg(II) replacement for Fe(II) in the chromite structure does not appear to restrict the amount of "available" chromium for reaction.Under the test conditions, namely an atmosphere of pure oxygen, finely ground chrome-bearing material, a roast temperature of 950°C and the stoichiometric amount of sodium carbonate to react with the chromite, the yield of water-soluble sodium chromate was able to be expressed as %yield = 104.5 -1.58 × %AI2O3 - 2.23 × %SiO2 for chromite samples containing alumina in the range 7.8 to 27.8 per cent and silica in the range 2.9 to 7.4 per cent.

Jan 1, 1984

Selective leach analytical techniques applied to surface geochemical samples in the search for deeply buried mineral resources gained popularity in the late 1990s. Several commercial assay laboratories introduced their own selective leach methods, adding to the few established commercial methods at that time. Many of these laboratories promoted their methods with orientation data showing favorable responses to both precious and base metal mineralisation, concealed beneath extensive thicknesses of overburden. However, many explorationists remain confused about the utility of these geochemical methods. This confusion is due primarily to the lack of objective orientation surveys over significant mineralisation, comparing all commercially available selective leach methods and to the lack of a creditable theory explaining the formation of these selective leach anomalies. An EXTENDED ABSTRACT is available for download. A full-length paper was not prepared for this presentation. An orientation survey was designed to fill the first void û an objective survey over significant mineralisation. With the help of 17 mining companies and assay laboratories, an orientation survey was conducted over five significant covered gold deposits in Nevada, USA , representing over ten million ounces of gold. Hopefully the results of this survey will help provide fuel for those working on the second void û a theory to adequately explain the formation of these selective leach anomalies.

Jan 1, 2008

Those involved in managing risk today are asking various questions: why is it so frustrating to discuss æriskÆ with communities? why do consultative processes around æriskÆ get more and more complex? where is all this going to end? These questions will be addressed by examining how our understanding of risk has changed from one based on biophysical hazard to a broader view that includes social and cultural factors. There is evidence to suggest that we are living in a ærisk societyÆ, where the goal of æsafetyÆ has replaced that of equality in a class based society. The global mining industry operates within this complex and politicised environment. The very meaning of ædevelopmentÆ has broadened from the narrow economic vision to include the social and environmental factors which make up æSustainable DevelopmentÆ. Corporate accountability now extends beyond traditional shareholders to wide groups of stakeholders. The mining industry is developing responses which look beyond traditional technocratic methods. At the industry level these responses have included the recent Mining Minerals and Sustainable Development global and regional reports It has proven challenging and difficult to operationalise these new understandings at the company level and it is time to look at the bigger picture.

Jan 1, 2003

The value of water is defined by its marginal utility. Challenges arise where the marginal utility is difficult to estimate. Therefore, when two or more interested parties wish to access water and they cannot use commensurate units for marginal utility; other means of value comparison must be sought. It is asserted here that sustainability principles can be used to guide this valuation if this is supported by a transparent decision framework. This paper proposes that the ICMM sustainable development principles provide appropriate guidance. In addition, a generic framework for decision making is suggested as a complement. Indicators of water management are recognised widely as an integral part of the accountability of minerals companies towards meeting sustainability goals. Less widely recognised are the ways in which sustainability principles can be used to guide decisions on water management which demonstrate growing awareness of its value. This paper illustrates the use of this logic in water issues associated with global sustainability challenges. It then goes on to demonstrate, using examples, that these links exist at all levels of the minerals industry and that indicators of this type are potentially as powerful as those currently being used. The reason for this is that the path from cause to effect is transparent and direct.

Jan 1, 2006

An Investigation of Cobalt Recovery on a Complex Oxidation Mine with High Per Cent of Mud

Sep 13, 2010

Economic mathematical methods have been developed and applied in the design, planning, development and managing stages in the mining industry. Economic and technological efficiency is achieved with the aid of a large range of probability models, which are used to enable decisions to be made progressively during the different stages. The entire operation is considered as a total system made up of sub- systems and the models representing these are consecutively interrelated with each other. Algorithms and programmes representing the economic mathematical models for all the stages involved were tested and were found to be applicable to the various important mines in the Donetsk basin. Currently, these models are accepted and widely used.

Jan 1, 1977

By Seedsman R

The fundamentals concepts of roof support are similar between coal mining, metal mining and tunnelling and yet there are different design approaches, different hardware, and different levels of site investigation. This should not be the case and this paper discusses the key geotechnical issues that should underlie all roof support design - the need to reinforce defects. A design method to build a beam in laminated rock under high horizontal stresses is presented. The method allows for changing rock strengths, defect properties and varying horizontal stresses. At one level the design can be implemented with design charts and tables. Lessons learnt during the implementation of the designs at 5 different mine sites are Discussed.

Jan 1, 1998

The alluvial diamond deposit in the Kimberley Region of Western Australia which became to be known as the Bow River Diamond Mine was discovered in 1982 by joint venture partners Freeport of Australia Inc and Gem Exploration and Minerals Ltd. Mining commenced in 1987. This paper describes the exploration programs and results from discovery to commencement of mining and reviews the public reporting of this process in the light of 1992 Ore Reserves Code (JORC, 1992). This case study illustrates the difficulties involved in resource estimation of alluvial diamond deposits. The study also shows that current reporting standards were, to a large extent, adhered to a full ten years before the diamond reporting section to the Code was formulated.

Jan 1, 1996

This paper refers to the open cut mining practice developed at Western Mining Corporation's Kalgoorlie Gold Operations (K.G.O.). Mining activity was centred attwo areas, namely W.M.C.'s Siberia "Sand King" and"Missouri" open cuts plus W.M.C.'s "Great Boulder" and K.M.A.'s "Horshoe" and "Morrison -Hannan's Star" open cuts in Fimiston.Kalgoorlie Gold Operations was set up initially to look after W.M.C.'s open cut interests in and about the Kalgoorlie area. The first mine commenced was, the Sand King open cut, approx 75 km NW of Kalgoorlie. it was here that the requirement for a highly selective form of mining first became apparent.

Jan 1, 1984

AustraliaÆs success as a mineral producer and exporter rests heavily on its technological competence. That competence is based not just on adopting internationally-developed technology but also on ground breaking research conducted at Australian research institutions, many of which have global reputations. A number of forces are now operating to speed the introduction of advanced technology to mining and processing operations around the globe and this will create pressure on the Australian industryÆs ability to retain its competitive edge. Examining the foundations of that national research base and the associated culture of innovation may provide some guide to the dynamics that will be required to maintain technical competitiveness in the future.

Jan 1, 2008

By Price B. D, Staunton W. P

The Mineral Science Laboratory of the Government Chemical Laboratories has recently investigated various procedures for the analysis of the platinum group metals (PGMs). This investigation covered a number of methods for the extraction and preconcentration'of the PGMs from a wide range of geological materials. The nickel sulphide extraction technique proved to be overall the most applicable procedure. Flame atomic absorption spectroscopy (FAAS), electrothermal atomisation atomic absorption spectroscopy (ETA-AAS), inductively coupled plasma atomic emission spectroscopy (ICP-AES) and inductively coupled plasma mass spectrometry (ICP-MS) were examined for their suitability in analysing platinum group metals in solution. ETA-AAS and ICP-MS proved to be the instruments of choice due to their low detection limits.

Jan 1, 1987

Spectacular high-temperature hot springs (æblack smokersÆ) on the deep ocean floor are producing economic concentrations of base and precious metals. Mining these seafloor massive sulfide (SMS) deposits is about to become a reality in 2010, subject to the timely issuance of permits. Three Australia-based private companies and two government agencies inJapan and Korea have exploration licenses or applications covering vast areas of the seabed in the western Pacific targeting SMS deposits. Technological and financial challenges for recovery of seafloor sulfide deposits are being met and mining these may be less environmentally deleterious than mining on land. An EXTENDED ABSTRACT is available for download. A full-length paper was not prepared for this presentation.

Jan 1, 2008

By Ribicic M, Kocar F

Surface lakes or water accumulation present a possible threat for the flooding of the underground mining works. Therefore, the criteria that define the conditions under which no flooding of the mining works can occur are of vital interest to the miners. The authors present the criteria that they developed for the Velenje lignite mine, Yugoslavia, and that take into account the elastoplastic behaviour of the rocks and the natural stresses involved in the deformable strata between the bottom of the lakes and the mine works as well as the extent of the direct caving-in process resulting from longwall mining activity. Fi- nally a generalization of these criteria to the other rock and stress conditions is discussed.

Jan 1, 1988

By D MacKay, W J. Bruckard

One of the mining worldÆs greatest challenges is to effectively use consumables (ie reagents and grinding media) to maximise metallurgical response, while minimising operating costs. It is anticipated that this paper will provide a logical frame work within which this can be achieved. The current study, at PerilyaÆs Broken Hill concentrator in the lead primary grinding/roughing circuits, examines the dependency of collector adsorption on Eh. The data demonstrates clearly that under the right grinding chemistry the addition of a xanthate collector during grinding can improve galena flotation. Further, operating the ball mill under the desired grinding chemistry regime leads to significant reductions in collector consumption whilst maintaining the metallurgical benefit.

Jan 1, 2008

Graded macadam slag base has been used successfully by the Department of Main Roads, N.S.W., in the construction of Expressways. However, the use of graded macadam in urban conditions introduces problems which can be avoided by the use of material meeting the specification outlined in M.R. Form 744. This paper outlines the rationale behind the technical requirements of the specification for the "Supply of natural gravel or crushed rock for road pavement (bitumen surfaced) M.R. Form 744". A blend of materials produced from slag is proposed as a potential solution for the production of slag base which would be suitable for use in urban construction or maintenance of roads.

Jan 1, 1979

By Tinto R

Aims of the Forum A contribution from Dr Robin Batterham, Vice President, RIO TINTO Research & Technology and a member of The AusIMM Standing Technology Advisory Qroup. Dr Robin Batterham is of view that the inevitability of automation in the minerals industry and the importance of addressing the human implications. He also outlined Rio Tinto's approach to automation. The progressive introduction of automation into mining operations will be revolutionary in its effects. This is the experience in other industries and it will be no different in mining. Mining companies most successful at implementing the new technologies will gain relative competitive advantage and those manufacturers who produce the most desirable automated equipment for miners will also gain market share.

Jan 1, 1997