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By R Garzon

For resources projects with healthy net present value (NPV) and low cash flow volatility, conventional discounted cash flow (DCF) analysis will continue to provide the dominant investment decision-making criteria. However, DCF analysis can be biased because it often applies a single risk-adjusted discount rate (RADR) to compare the value of projects with different risk characteristics. Many of the difficulties with DCF modelling arise from analystsÆ inability to determine appropriate risk discounts and to estimate expected spot prices inputs for the commodities produced over the life of the project. Modern asset pricing (MAP) is a very valuable complement to DCF analysis in addressing some of these issues. Most papers dealing with MAP, however, while academically rigorous, tend not to be explicit in terms of practical application of this methodology in routine project evaluation. This paper has the objective of reviewing the MAP methodology and of demystifying its complexity, by providing a simple but realistic step-by-step evaluation of a mining project, comparing its DCF and MAP NPV values. The paper concludes that MAP provides a minimum, risk-adjusted æfloorÆ value, thus representing a valuable complement to any DCF valuation.

Jan 1, 2007

Laboratory testwork was carried out on an overall orebody composite, of 2.9 per cent Cu and 4.2 per cent Zn, prepared from drill core taken from the Currawong fine-grained, copper-zinc massive sulphide deposit near Benambra in Victoria. While 90 per cent of the copper was readily recovered in a concentrate of 20 per cent Cu, after grinding to 95 per cent passing 38 microns, zinc responded poorly to conventional flowsheet/reagent regimes. Experience elsewhere with the use of reverse cleaning, to separate pyrite from sphalerite, led to a series of tests in which better (but still modest)metallurgical results were obtained. The best result was a zinc recovery of 55 per cent in a concentrate of 50.5 per cent Zn. The major loss of zinc occurred in the reverse cleaning stage where the unit recovery of zinc was similar to pilot plant results achieved at Mount Isa Mines on similar feedstock. Diagnostic mineralogy suggested that an overall zinc recovery of 70 per cent was probably the practical upper limit, at a 50 per cent Zn grade.

Jan 1, 1999

By S Jahanshahi, D R. Swinbourne

The classical metal-slag-gas equilibrium technique was used to study the thermodynamic activity of cobalt, iron and their oxides in iron silicate based slags containing under controlled oxygen potential (3.70 x 10-8 to 2.95 x 10-7 atm) at 1573 K. The measured activity of cobalt oxide in FeOx-25 wt per cent SiO2 slags showed positive deviation from ideal behaviour for melts with up to ten wt per cent CoO. At higher silica contents, the behaviour became closer to ideal and in accord with previous studies on silica saturated slags. The activity coefficient of FeO in these slags had virtually no dependence on the CoO content. Partial substitution of silica by lime resulted in an increase of the activities and activity coefficients of CoO, FeO, Fe2O3 and Fe3O4. The results indicate that saturation of the slag with a magnetite phase occurs at CaO contents of five wt per cent and higher. Phase equilibria studies SiO2-FeO-Fe2O3-CaO slags containing cobalt were also carried out using the drop-quench technique. Results from these experiments confirmed the formation of a magnetite solid solution containing about three wt per cent CoO at lime contents of five wt per cent and higher at 1573 K and 2.9 x 10-7 atm of oxygen.

Jan 1, 2000

Enhancement of Energy Efficiency in Fine Grinding of Copper Sulfide Minerals Using a Pilot-Scale Stirred Media Mill - IsaMill The mineral liberation size of run of mine ores has dramatically reduced over recent years. As a result, the demand for fine grinding which is the most energy-intensive form of grinding has markedly increased in the minerals industry. Furthermore, the fine grinding costs increase exponentially with decreasing product particle size. As a result of the increased energy requirement for fine grinding, it is desirable to optimise fine grinding processes such as stirred media milling (ie IsaMill) to enhance energy efficiency, throughput and the product fineness. In the present study, the influence of slurry rheology, grinding media type and grinding media-to-feed size ratio on energy efficiency in a pilot-scale IsaMill was investigated under certain industrially relevant pulp processing conditions. It was shown that a critical rheological state existed, below which the energy required to achieve an 80 per cent passing (ie P80) 20 ¦m product size was unaffected by shear rheology (ie apparent viscosity and shear yield stress) whilst above which the grinding energy required increased dramatically with increasing shear rheology. Colorado River sand (3.35 mm) showed higher energy efficiency than MT1 ceramic media (2.5 mm) for a target P80 of 20 ¦m in the solids concentration range of 38 to 55 per cent by weight, but the former experienced more than four times the wear rate of the later. The high wear rate of the Colorado River sand may be due to its much lower hardness. For feeds with an 80 per cent passing (ie F80) 70 to 110 ¦m, 2.0 or 2.5 mm MT1 media appeared to be more energy efficient than 3.5 mm MT1 media whilst a media-to-feed size ratio of 41 to 53 is applicable for ~50 ¦m (ie F80) feeds for efficient grinding.

Sep 13, 2010

By W E. Short

Ausmelt top submerged lance technology is at the cutting edge of technological developments in non-ferrous metal smelting with commercial operations throughout the world. The Technology is being used for lead smelting, copper smelting and matte converting, fuming zinc from slags, recycling iron residue from zinc plants, processing the aluminium industry hazardous waste SPL , precious metal processing, nickel-copper residue smelting and converting, and tin smelting. The Technology is also being developed for projects involving iron-making and waste industry opportunities. There are 19 furnaces operable or under design at the time of writing. The benefits to operators using Ausmelt Technology vary depending on application, but typically result from environmental improvements, enhanced recovery of valuable products, lower capital and operating costs, more flexible operations capable of handling a wide range of feed materials, better removal of impurities, or improved product quality. Growing industry acceptance of the Technology is evidenced by the fact that more than 20 per cent of the worldÆs tin production will be extracted in systems using Ausmelt Technology when the Yunnan Tin Corporation plant starts up in 2001. Metallurgists, industrialists and investors have accepted the Technology for improved operations in both greenfield main smelters and add-on plants in Korea, China, Japan, Germany, Peru, Zimbabwe, India, Namibia and Australia. Ausmelt intends that this paper will update the industry by outlining recent achievements of the Technology in global metallurgical operations.

Jan 1, 2000

By S Henderson, J V. Lawless

The worldwide association of low-sulfidation epithermal gold mineralisation, bimodal rhyolitic-basaltic volcanism and rifting is confirmed in New Zealand. In the currently productive Coromandel epithermal-gold province reported Ar-Ar dating of adularia from low sulfidation deposits falls into two groups at 6 and 7 Ma. Bimodal rhyolitic-basaltic volcanism has been reported to be K-Ar dated at 9 to 7 Ma and 6 to 5.5 Ma. Epithermal gold mineralisation in Northland is spatially associated with bimodal basaltic-rhyolitic volcanism, with rifting cogenetic with that in the CVZ. The Taupo Volcanic zone (TVZ) is sufficiently young that the presence of a segmented rift with recent bimodal rhyolitic-basaltic volcanism can be genetically associated with epithermal gold mineralisation, which occurs as both fossil occurrences and in active geothermal fields. This reinforces the known potential prospectiveness of the Coromandel area and increases that of Northland and the Taupo Volcanic Zone.

Jan 1, 2005

By R N. Robson, A B. Christie, I J. Graham

Strategy development by the minerals industry identified the fragmented management of mineral resources as a significant impediment to the discovery and development of New Zealand Æs mineral resources. The total gross value of New Zealand Æs potential resources of coal and minerals is estimated at about $400 billion, but their potential value is not being realised. The management of minerals is now largely under the control of 86 local authorities (regional and district councils) and the lack of recognition of the significance of the sector has lead to inconsistencies in the way minerals are managed. The industry strategy influenced science funding for minerals, with the result that the 'mineral wealth' component now includes research on making better use of resource data in minerals management. Initially this research has targeted Otago and Northland regions where a number of initiatives are now in progress.   In Otago the Regional Council has budgeted to contribute $1 million towards a regional geophysical survey to advance mineral exploration and the management of subsurface resources in the region, to work cooperatively towards improving public awareness of the significance of minerals to regional economic activity, and to better coordinate policy-making for minerals at regional and district levels.   Crown Minerals, and the Far North and Whangarei district councils are considering providing funding support for an economic study of the mineral potential of Northland, building on a mineral resource assessment undertaken by GNS Science. Enterprise Northland is adding minerals to their list of potential growth sectors, and is supporting the operation of a Northland region minerals focus group.   Regional development agencies and local authorities have shown that they are willing to include mineral resources in their development strategies and to provide for them in policies and plans when supplied with information and assisted with technical support.

Jan 1, 2006

By K B. Quast, A Schuurmans

Laboratory batch rod and ball milling tests were conducted on samples of Heavy Medium Separator (HMS) sinks from Renison Limited. The effects of mill rotation speed, rod volume and ball size on the resulting product size distribution were investigated. Between 48 and 69 per cent of critical speed, the product sizing distribution curves remained very similar, with a finer grind resulting from increasing the speed of rotation at constant grind time. Increasing the rod loading from ten to 53 per cent by volume caused the product size to become finer and more closely sized with a transition occurring at approximately 29 per cent. This was interpreted as a change of dominant grinding mechanism from abrasion to impact. No preferential grinding of the cassiterite was observed. The effect of increasing ball size at constant charge weight was to preferentially grind the coarser particles and generate more intermediate sized particles, whereas the product from a mixed ball charge gave a distribution similar to that obtained when a charge containing only smaller balls was used.

Jan 1, 1998

Temperature Sensitive Polymers as Efficient and Selective Flotation Collectors

Sep 13, 2010

The mining licence for the Macraes gold mine places emphasis on the progressive rehabilitation of the land to a state compatible with the landscape and environment that existed prior to mining activities taking place. The shallow soils and hostility of the environment dictate that choices of plant species should focus on persistence rather than high productivity, choices that are made easier by observing the vegetation patterns that have developed naturally within the area, by recontouring landforms to integrate with the surrounding countryside and the use of appropriate plants and establishment techniques.

Jan 1, 1992

In most surface mining operations, overall project economics is driven to a significant extent by the slope angles that can be achieved within the rock masses present. This is particularly true of precious metal pits in which stripping ratios can be relatively high, although examples from other non-precious metal operations (such as large iron ore and copper pits) can also be found. As a consequence, it is not surprising that in most large (deep) open pit mines, relatively small changes in slope angle (of the order of two or three degrees can translate into changes in project value measured in the tens or even hundreds of millions of dollars. Understanding how this potential value can be realised, and quantifying the associated risks, should be one of the key outcomes of modern slope engineering practice. In striving for optimised slope angles, therefore, mining companies and their specialist consultants are increasingly turning to more sophisticated methods of engineering open pit walls. This paper summarises contemporary slope engineering practice as well as some of the key technical issues that are either currently being researched or will need to be researched in the future. It is written in the context of the slope engineering process; namely, data collection and analysis, failure mode identification and stability assessment, slope design, slope formation, and slope (face) mapping and monitoring (the latter two activities being the primary on-going data collection functions that close the design loop).

Jan 1, 2002

By G Hayes

Ore from the Browns deposit near Batchelor, in the Northern Territory of Australia, is a fine-grained polymetallic sulfide ore hosted in graphitic black shale. Minerals of economic significance are seigenite (Co,Ni)4S3, Galena (PbS) and Chalcopyrite (CuFeS2) with minor Sphalerite (ZnS). Gangue minerals include quartz, carbon and K-feldspar. The grain size is fine, with a significant amount of the seigenite present as Early flotation work determined that a grind size of around 20 microns was required to achieve clean sulfide concentrates. This work recommended oil agglomeration flotation, in which small sulfide minerals were collected, then loosely agglomerated with oil ahead of flotation into a heavily mineralised froth. In the 400 kg/hr prototype plant this froth proved unmanageable. A conventional flotation circuit after grinding to a P80 of 24 microns and using very low flotation pulp densities resulted in an 86 per cent cobalt recovery.The paper analyses further laboratory work which has increased cobalt recovery to 91 per cent by grinding to û250 microns ahead of flash flotation. The real cobalt recovery breakthrough comes from flash flotation of the whole mill discharge rather than the more usual flash flotation of cyclone underflow. Flash flotation tailings are ground to û38 microns and are floated under normal flotation conditions with only the scavenger concentrates being reground to 20 microns.A one tonne per hour prototyping campaign is scheduled to demonstrate the robustness of this circuit.

Jan 1, 2002

By Parida K. M, Paramguru R. K

Laboratory-scale studies aimed at developing a process for solubilising manganese values from a low grade pyrolusite containing material using low grade pyrite, both available in India, are described. Leaching 21 parts by mole of pyrolusite with 6 and 26 parts by mole of pyrite and sulphuric acid respectively results in good manganese dissolution (98 per cent) at 100°C within one hour. The probable kinetics of the leaching process has also been given.

Jan 1, 1995

Grinding and Beneficiation Characteristics of a Low-Grade Haematite Ore

Sep 13, 2010

New ZealandÆs share of global greenhouse gas emissions, at about one fifth of one per cent, is very small. But the profile of those emissions is unique among OECD countries; more than half come from methane and nitrous oxide associated with livestock agriculture. Consequently, fulfilling its obligations under the Kyoto Protocol is potentially quite onerous for New Zealand.In this paper we use a single region, static general equilibrium model to assess the implications for New Zealand of various climate change policy options. The energy and agriculture sectors are modeled in a detailed manner to enable realistic simulations to be carried out.Choosing an optimal set of policies is made more difficult by the fact that New Zealand relies heavily on emission intensive sectors for much of its export earnings. For example, one emission intensive sector alone, dairy, accounts for over 20 per cent of all merchandise exports. Avoiding carbon leakage is therefore an important consideration in selecting appropriate greenhouse policies.Our analysis shows the degree of sectoral adjustment required is substantial. In addition, the total costs depend on the uncertain level of variables such as the global carbon price and the level of afforestation activities in New Zealand, ie the rate of new forest planting.

Jan 1, 2002

By D I. Cliff

The loss of 11 miners in the 7 August 1994 Moura No.2 Underground Mine Disaster was the catalyst for major change in the way safety was managed in the Australian Mining Industry. The impact was felt across all sectors not just underground coal. It was the catalyst for the overhaul of the regulatory frameworks, moving away from prescription to management systems and risk management. This had a substantial impact on the way not only the industry operated but also on how the regulator functioned. It heralded the introduction of competency-based training across all levels of the mining workforce. Since that time major improvements in safety performance have occurred. However, hiding within the statistics are some disturbing trends. This paper aims to analyse the progress made in the past 30 years and identify the current and emerging issues. Automation is bringing major production and safety benefits, but at the same time other factors such as the reduction in workforce numbers and ever-increasing production pressures are leading to high turnover rates. This in turn causes to a loss of experience and expertise. In addition, and of particular importance, is the recognition of psychosocial wellness on workforce safety. Many of these factors are not unique to the mining industry however they may be exacerbated by the scale of mining, the remoteness of the mines and family unfriendly mining rosters.

Apr 16, 2024

The 115-year history of the Hall-Heroult process for production of aluminium has been characterised by a sustained technology-driven improvement in costs and productivity. In the past decade the industry has effectively transferred best practice into older technology with improvements through computer control of the process, and redesign of cell linings using computer modelling . Incremental development is now at the point where diminishing returns will apply for further technical improvement effort however, until the gap between technical limits and current best practice is addressed through major process redesign. The process remains a long way short of its technical limits in energy consumption, carbon anode consumption, cell life and product purity. Investment cost in new capacity is very high, supporting the retention of older and less efficient technology and hence limiting the application of best practice in environmental performance and occupational health exposure. The industry is a major emitter of greenhouse gases yet the process has the potential to release oxygen as the primary waste. All of the above issues will be addressed in the new century, but only through commitment to the necessary long-term research and development that is required to achieve a redesign of the process.

Jan 1, 2000

Truck fires in a tunnel can create heat release rates (HRR) significantly higher than 100 MW. Because of a fast spread of smoke and heat the self-rescuing period is shortened significantly. Furthermore, it was experienced that firefighters are not able to approach the fire because of enormous heat and radiation. As consequence, the fire may spread to adjacent vehicles, which is reported for distances of more than 50 m. Tunnels can be damaged severely by fires and the repair works causes long closing time of tunnels. In addition to direct costs for the refurbishment of the tunnel, further economic losses will occur due to the closure time. Conventional deluge systems in Japanese and Australian road tunnels have been known since the 1960s. During the last years the research work was concentrated in the development of more effective and cost-effective solutions based on water mist technology. Orientating fire tests as well as specifications of minimum requirements were carried out within the European research project UPTUN. This basic work was extended by the safety of life in tunnels (SOLIT) research project, funded by the German government. The scope of SOLIT was not only to study the effects of water mist fire suppression systems in tunnels, but also the interactions with other safety systems, such as fire detection, passive fire protection or ventilation. Furthermore, the integration of active fire suppression systems into a holistic tunnel safety system was part of the work program. Within this research project a large-scale fire test program with more than 50 fire tests, including 25 truck fires with a potential HRR of almost 200 MW, was carried out in the test tunnel of San Pedro des Anes (Spain). Furthermore, a two-week testing and training period with the Madrid Fire Brigade was carried out after the SOLIT program. Two fundamental results were achieved during the fire tests:Primarily, water mist systems are able to control the HRR of fires in tunnels, so the atmosphere will be improved significantly. Hazardous effects of toxic smoke on people will be reduced and due to the reduction of temperatures and radiation, a firefighterÆs approach is improved significantly. Furthermore, the fire spread will be hampered and the thermal load on the building structure also be reduced. Secondarily, due to positive interactions with the ventilation system, the effectiveness of a tunnel ventilation system, longitudinal as well as semi-transversal, is increased significantly. Based on the results of the SOLIT research project, a water mist system was applied into several parts of the M30 tunnels in Madrid. As a basic principle the technical equipment and the methodology of implementation comply with the UPTUN 251 guidance, recommending minimum standards for water-based fire suppression systems in tunnels.

Jan 1, 2008

One of the important directions of further increase of quality and efficiency of control of mining companies and branches is the creation of the operation and development monitoring systems of such facilities. The main purpose of these systems is to provide managers with reliable and timely information on the current state and typical tendencies of operation of the facilities under control. However until the present time no scientific and methodical ground for system monitoring of the mining companies and branches has been created. Therefore, the authors of the report have aimed to assess the current situation with regard to the researches in this field and to do analysis of the most important aspects and ways of solution of the issue under consideration.

Dec 6, 2010

By E Christodoulou, L Zoumpoulakis

The kinetics of the thermal decomposition of MgCO3 was investigated using isothermal experiments performed in a thermogravimetric analyzer under a nitrogen atmosphere at 380¦, 400¦, 450¦ and 480¦C. The weight loss data as a function of time were modified to give the fraction that reacted (ß) and the rate of reaction (dß/dt) vs. time (t). Kinetic analysis of the experimental results, using three different methods, showed that diffusion predominates the MgCO3 decomposition over the investigated temperature range, with the data being best fitted by JanderÆs equation ([1−(1−ß)1/3]2=kt). The activation energy was estimated by Arrhenius plots using both the initial reaction rates and rate constants from fitting the above equation. The values estimated were 27.1 and 171.4 kJ/mol respectively.

Jan 1, 2001