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By D P. Blair

There are two major aspects to wall control blasting – the potential for any blasthole to cause wall damage and the potential for a delayed sequence of blastholes to cause damage. The damage potential of individual blastholes is governed by standoff distance and charge weight. However, for locations sufficiently close to a highwall, dynamic finite element models and field measurements show that there is also a critical nature to those blastholes very close to the wall, over and above standoff distance. At many mine sites, the charge weight/standoff-distance is set by trial and error. Thus, a significant aspect of the present work is the determination of dynamic stress radiating from a blasthole. Unfortunately, the modelling and measurement of this dynamic stress is still faced with many difficulties. Typical models have questionable aspects, which casts serious doubt over their predictions, and it is shown that the Hustrulid Bar experimental technique does not correctly account for stress wave attenuation in extended media. In an attempt to solve the dynamic stress problem, the present work describes a model based on an exact solution under the assumption of viscoelastic material. The model takes full account of the rock mass elastic/viscoelastic properties, the explosive type, geometry and primer location and predicts a dynamic stress for direct comparison with the unconfined compressive strength of the local rock mass. This model predicts the standoff distance required to avoid damage due to a single blasthole. The behaviour of a delayed sequence of blastholes is analysed using an upgraded waveform superposition model, covering a range of initiation delay combinations, which predicts the peak particle motion (PPM) induced in the wall for each combination. This approach shows that there is no need to fire dedicated trim shots close to walls; all that is required is a carefully modified production shot. The mechanism of vibration screening is discussed, and its use in a superposition model highlights the potential of reverse firing (shield blasting) to reduce wall PPM. A conceptual model is also introduced to give a further insight to vibration screening and damage (via ground heave). This model predicts that a centre-lift blast will have a central heave profile and that a reverse-fired shot will produce a smaller power trough than that produced by a standard shot. It is demonstrated that the mechanism of presplit formation is not well understood; nevertheless, experimental evidence shows that presplits can be an effective method for reducing wall vibrations.CITATION:Blair, D P, 2015. Wall control blasting, in Proceedings 11th International Symposium on Rock Fragmentation by Blasting, pp 13–26 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Aug 24, 2015

By D Thomas

Geochemical data related to AMD for the West Coast and Southland regions have been collated into a relational database and GIS system. The types of information include; rock geochemical data, water chemistry data and aquatic macro-invertebrate abundance data. This information will be combined with eco-toxicology experiments to determine impact thresholds on aquatic ecosystems. Ultimately these datasets will be combined with remediation investigations to produce a Framework to assist decision making related to mine planning, consent and compliance.   Current geochemical research examines the controls on As concentrations downstream of gold mining areas and the variability of AMD from Brunner Coal Measure rocks. Assessment of factors that control the chemistry of Brunner Coal Measure AMD such as mine type, hydrogeology, geology, geochemistry and climate is in progress. Minerals that control the concentration of aluminium downstream of AMD point sources include alunite, jurbanite and various forms of Al(OH)3.

Jan 1, 2005

Most people are familiar with Euclidean dimensions: zero for a point; one for a line; two for a plane; and three for a volume. Howeverbobjects are not actually Euclidean, but lie somewhere between Euclidean æend-membersÆ with a non-integer fractal (or æfractionalÆ) dimension. The fractal dimension D is a measure of the relative importance of large versus small. Consider the trace of a coastline on a map. It has a fractal dimension (1 =D =2) somewhere between a line (dimension = 1) and a plane (dimension = 2). The more tortuous the coastline, the higher the fractal dimension, and the closer it becomes towards a plane. The concepts of fractals and spatial geometry can be applied to a wide range of geologicaVmining problems as well as than those dealing with space. One commonly quoted fractal relation is the log-log relationship of ore-grade and tonnage. Until recently, we have never been able to define or measure spatial-geometry, but new developments in mathematics have provided a means by which to quantity and apply it to our problems.

Jan 1, 1992

The energy supply in the 21st century is still secured by coal. According to estimates of the International Energy Agency (IEA), coal will have the same importance as oil for the world-wide supply of energy until 2030. Coal is also an important element of EU policy, its future use is closely linked to effectively addressing the environmental challenges it poses. Hard and brown coal represent approximately 80 per cent of European Union (EU) reserves of fossil fuels and coal utilisation can co-exist with the development of power generation based on renewables. Europe is the world's third largest consumer of coal behind China and the United States.The Czech Republic is poor in energy resources except for coal. Brown coal is relatively abundant (mineable reserves estimated at 1800 Mt, output 48 Mt/a) and significant quantities of hard coal (mineable reserves 900 Mt, 13 Mt/a), much of it suitable for coke production, are also present.Severoceske Doly (SD Company), the biggest Czech coal mining company (22 Mt/a, 48.6 per cent Czech market share) and one of the biggest in Europe, reinforces despite the last deep crisis in the Czech and European economies its long-standing stable and strong market and financial position. From 2009, the SD Company co-owns, with partners, a brown-coal mining company MIBRAG (21 Mt/a). SD Company invests in large mining equipment (eg new giant spreaders and bucket-wheel excavators, extension of overland belt conveyors), rebuilds and upgrades mining and processing installations, auxiliary and other machinery. We should see the investment we make today in tomorrow's mining and reclamation as an opportunity and not as a burden. They enable to make our position more resistant in the longer term. Projects focused on the environment and operational safety went hand in hand with these efforts.R&D activities relate to technical innovations, improvements of mining equipment, research and evaluation of conditions for extracting coal seam and/or overburden and mitigation of environmental impacts, utilisation of coal in new products. The company spends considerable amounts on reclaiming affected land and creating a new post-mining landscape.Our dialogue with influential stakeholders in the region where we operate contributes to the long-term improvement in the quality of life of local residents. Such dialogue with communities in the last ten years has been instrumental for confidence building. SD Company helps to develop many projects of towns and villages in its vicinity. The stable and transparent relations with our neighbours are in accordance with our basic principles of corporate social responsibility.

Dec 6, 2010

The traditional measure of Lost Time Injury Frequency Rate (LTIFR) as a measure of improvement in safety performance is recognised as inadequate and misleading, lulling managers into believing that safety is improving. It is a reactive measure, and steadily declining LTIFRs around the world have failed to be accompanied by a similar reduction in the fatality rate. This paper confronts the industry with the attitudes of some mining managers, such as one that allowed fatalities to occur in the case of a gold mining company at a rate of one death per 150 000 ounces of gold produced while claiming their safety record has improved, as shown by a falling LTIFR, and viewing fatality reductions as a long-term goal instead of an immediate priority. A quantum shift in management attitudes is required to focus on proactive measurements to detect the indicators of an impending disaster, and to predict conditions conducive to fatalities. Corporate CEOs are challenged to attend the funerals of all workers killed in the workplace. CEOs who fail to attend such funerals send a message to employees that the CEOÆs priorities lie elsewhere, and that profits take priority over workersÆ lives. The dichotomy of whether mining companies are run for the benefit of shareholders or whether companies owe social responsibility to the community is examined. The role of individual responsibility for personal safety is examined, together with the psychology of employees in the mining industry. A number of proactive measurable indicators are suggested to stimulate discussion on developing robust measuring tools to predict and therefore prevent fatalities.

Jan 1, 2003

This paper identifies the challenges and opportunities for mining companies and communities in investing in human rights compatible, credible, effective and representative company-community relationships.   The paper draws on the work of Professor John Ruggie, Special Representative to the United Nations Secretary General on Business and Human Rights, and his Protect, Respect and Remedy framework for business and human rights, The CDA Collaborative Learning Project, and the experience of Oxfam Australia. This paper begins with the premise that Australian companies commence operations offshore with high expectations and a willingness to work harmoniously with local communities. However, as companies increasingly engage in global operations - particularly in weak governance and conflict zones - the challenge to establish and sustain rights compatible, meaningful, corporate community relationships and grievances mechanisms becomes both more complex and necessary. Establishing trust and honouring commitments made to communities, including legacy issues, is a critical component in good corporate community relations.   The second part of the paper will identify some of the impacts and challenges of mining that need to be addressed in corporate community negotiations and consultation. Respect for indigenous people's rights and their right to give or withhold consent for a project to proceed is increasingly evident, as is the growing global expectations with regard to revenue transparency. As such, key challenges include: grievance mechanisms; free prior and informed consent; transparency and accountability; the gender impact of mining; resettlement, compensation and benefit sharing; and security issues.   Finally, the paper will provide practical guidance to companies on how to establish effective corporate community relationships. It will include examples, such as human rights impact assessments, gender impact assessments, and establishing local level grievance procedures. The paper will include an Oxfam Australia case study of a dialogue mechanism at Tintaya copper mine in Peru.

Jun 1, 2010

Gold was first discovered on the Shotover by Thomas Arthur in 1862, and soon there were over 3000 miners working on the river. It has often been called the richest river in the world. Most countries probably have one of these, but it was certainly the richest in New Zealand. In the early days some miners collected as much as 200 oz/d from a sluice box, and the early river gravels must have been extremely rich before the gold bearing terrace gravels were sluiced into the river. Otago produced about 10 Moz out of the NZ total of over 30 Moz. Most of this was alluvial and possibly one third or more came from the Shotover. The extremely cold winter and danger of flooding made it a dangerous river to work. During 1863 when heavy rain melted snow in the high country, the river rose 35 ft overnight and drowned many miners camped on the banks. These hazards still exist and dominate the method of working. The early hand miners cleaned out much of the riverbed, and the advent of the hydraulic elevator enabled deeper parts of the river to be worked over. Extensive sluicing of high terraces also took place particularly around Skippers. Several companies have attempted operations on the Shotover. Many of these were distinctly unsuccessful, such as the suction dredge at Maori Point about 1930 and the Skippers Limited fluming in about 1934. At least two attempts were made to divert the river with the Sandhills cut above Skippers and the Oxenbridge Tunnel down near Arthur's Point.

Jan 1, 1983

By L S. Shekhawat, M P. Roy, R K. Paswan, P K. Singh, A Joshi

Blasting in the mining industry is being transformed, and can no longer be treated as an art or a practice purely dependent upon experiences of individuals. Examples of key drivers that have demanded consistent and more accurate blast results are initiatives to control pit-wall damage to help mine steeper pit slope angles, to control damage to underground opening operating in close vicinity of the open pit mine. Such situation exists at Rampura Agucha open pit lead zinc mine, which is producing 5.7 Mt/a of ore and has started its underground part, which is slated to produce initially 2–2.4 Mt/a and 4.5 Mt/a in the near future. The open pit mine is currently working at 326 m depth and is designed to reach 421 m deep. It has been planned to operate the underground mine maintaining 50 m parting from the planned ultimate level of the open pit mine.Presently, open pit and underground mines are being operated simultaneously. The present average depth of underground working lies between 370 and 410 m below the surface level. Sometimes explosives up to 95 978 kg are being detonated in a blast round in open pit mine. These blasts are often apprehended as a danger to the safety and stability of underground openings. It was decided to document the impact of open pit blasting in the openings of underground workings, so that preventive measures may be taken for the safety and long-term stability of the underground mine. The impact of 86 open pit blasts has been documented in the underground openings and 258 blast vibration data has been recorded. The vibrations were recorded simultaneously in the roof, side walls and at floor levels. The highest levels of vibrations were recorded in the roof and the lowest levels at the corresponding floor levels. The pillars experienced lower level of vibrations than the roof. Blast designs were optimised at open pit mine to control vibration in view of long-term safety and stability of the underground openings. The vibrations generated due to detonation of explosives with shock tubes and electronic delay detonators have been recorded in underground openings for comparative assessment. Ground vibration recorded at roof, pillar and floor were analysed separately and threshold value of the vibration for the safety of underground workings has been determined based on the rock mass rating of the roof rock.CITATION:Singh, P K, Roy, M P, Paswan, R K, Shekhawat, L S and Joshi, A, 2015. Protection of underground mine structures due to adjoining open pit mine blasting, in Proceedings 11th International Symposium on Rock Fragmentation by Blasting, pp 279–288 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Aug 24, 2015

By K P. Tully

In August 1996 a Microseismic Monitoring System developed by ISS International Limited was installed at the Pasminco Broken Hill Mine -Southern Cross area. The project aims were to:Assist in daily safety management in a mine environment which exhibits one of the highest occurrences of microseismic activity recorded in the Australian mining industry. Be used as a proactive tool in design of future development and stoping. The project to-date has been an unqualified success in achieving both goals. Consequently the system is being expanded from 6 to 14 monitoring sites.

Jan 1, 1998

Large mining operations need equipment that consistently performs as expected. The most effective way of ensuring this is to have a defined life cycle with an optimised maintenance strategy. The determination of this life cycle is an economic decision, influenced by the construction and utilisation of the equipment. An effective life cycle costing (LCC) tool must be able to process the many variable factors involved.Many factors influence the costs that are associated with a machine over its life. The most variable of these are the costs of maintaining the equipment. Maintenance costs are dependant not only on the utilisation of the machine, but also on the strategy that has been developed to support the machine through its life. A combination of supplier support, component changes, regular servicing and unscheduled maintenance needs to be modelled, based on a variety of drivers. Traditionally spreadsheets have been used to model these factors, but the increasing complexity of the situation can make spreadsheets unwieldy and difficult to manage. A database solution that breaks each activity into its constituent components, links them to an associated mine plan driver and then aggregates the result is the ideal tool to provide a time based cost profile. The evaluation of a number of scenarios, representing different maintenance strategies/life cycles can be rapidly undertaken. Auditability through inbuilt tools is required to provide easy tracing of data. Use of the host company's account structure allows for reporting against the standard chart of accounts.

Dec 6, 2010

Avoca Resources LimitedÆs Higginsville Gold Project has a resource base of over 1 300 000 oz of gold. The Trident underground mine, which forms the basis of the project development, has a resource base of 927 000 oz of gold. Avoca is building the Higginsville Gold Project based on a minimum ten year vision, producing over 150 000 oz per annum. The project development has taken less than three years from the Trident discovery hole in October 2004 to the first ore production in June 2007. This paper discusses the background work associated with the development of the Trident underground mine in a difficult period for new project development in Western Australia. The resources boom, led by the iron ore industry in the Western Australian Pilbara region, is creating cost pressures and, combined with a lack of people and equipment, is placing cost and timing stress on a small developing project. Avoca Resources has developed a project execution management strategy aimed at mitigating cost blow outs and schedule delays.

Jan 1, 2008

Project Sustainability Assessment - Matching Method to Enterprise Size Sustainable development requires managing natural resources, including minerals, in a way that is conducive to long-term wealth creation and the maintenance of capital (natural, social, human, economic and physical). One aspect of the minerals sustainability discussion focuses on replacing depleted mineral capital with other forms of capital so as to ensure that the contribution of a mineral project is net positive over its life. Another, equally important, aspect focuses on selection of projects and technologies that contribute to the achievement of a variety of sustainability objectives, such as environmental protection, efficient use of resources, water and energy, worker health and safety, and the equitable distribution of risks and benefits within and across generations. Technical feasibility and relative economic performance remain necessary decision criteria for mineral investment decisions, but they are no longer sufficient. Enterprises, regardless of size, are now confronted with the challenge of comparing investment alternatives based on a new, broader set of criteria. The field of integrated sustainability assessment (ISA) emerged in response to this changed social and business environment. ISA is a structured process for examining the economic, social and environmental impacts of a project or technology. The purpose of an assessment can be broad, a strategic review of corporate behavior for example, or quite narrow, input to a specific decision process such as the selection of a piece of equipment. There are numerous methods and analytical tools available to conduct ISAs and selection of the most appropriate for a given situation will depend upon temporal focus (retrospective to prospective), decision context (strategic, tactical or operational), and phase of the assessment process (problem structuring, analysis, resolution, ex post review), among others. Selection also depends upon enterprise size and the attendant availability of financial and human resources. Large multi-national firms often undertake complex, data intensive sustainability assessments, in part because the projects they are involved in are multi-faceted, long term, and require significant financial investments. Small and medium sized enterprises are seldom able to commit the same level of resources to an ISA, and if the projects they undertake are less complicated, a time consuming and detailed assessment may be unnecessary. Regardless of enterprise size, the tangible and reputational benefits of conducting as ISA must exceed the actual monetary cost of doing so. This presentation will provide an overview of available ISA tools, categorising them in terms of their data requirements, methodology, outputs and applicability in various decisions contexts. Distinction will be drawn between situations where reasonable approximations of project impacts can be expected to provide an adequate amount of information and those for which more detailed analysis is essential. Finally, ISA strategies that have been successful and cost effective at different scales of business enterprise will be identified. This is an abstract only. No full paper was prepared for this presentation.

Sep 13, 2010

Both here and in Australia, the unique commercial and tax features of joint venture are finding favour in forestry, fishing, technology and infrastructure projects. For New Zealand mining companies, joint ventures provide a means of access to foreign know how and investment funds, while retaining their corporate independence and their hard-earned tax losses.   This paper discusses some of the practical income tax and GST considerations where a joint venture structure is contemplated. The first part of the paper considers income tax, and in particular how joint ventures enable companies to access and carry forward tax losses. It explains why a joint venture may be advantageous relative to a jointly owned company.   The second part of the paper concerns GST and the focus is on two aspects: 1.   Joint ventures may be registered for GST. In some instances they have no choice and are required to do so. Where a joint venture is registered in respect of a taxable activity, the members are not permitted to register in respect of the same activity. This may be problem where the member has incurred its own expenses and the member wishes to register in its own right to claim back the GST on those expenses. This paper explores the issue and possible solutions. 2.   It is not uncommon to see joint ventures claiming GST on the costs of production, and the production being sold (and GST is being charged) by the members. In this paper we consider whether these arrangements have a tax risk, and what can be done to make them technically sound.

Jan 1, 2005

Solid Energy New Zealand Limited owns and operates the Ohai coal field (Wairaki Coal Mining Licence, CML) in western Southland. The Morley Stream passes directly through the middle of the CML and has required diversion in the past to enable open cast mining to proceed. Solid Energy is evaluating two new open cast pits at Ohai. Commissioning these new pits would necessitate further diversion of the Morley Stream. One of these potential new mines is adjacent to an abandoned State Coal Mines (State Coal) pit and there is an opportunity to substantially rehabilitate this old pit as a corollary to the new mine and the stream diversion project.   Past Morley Stream diversions were undertaken by State Coal and so they predated the Resource Management Act 1991 and the degree of community environmental awareness and involvement that has become the norm these days. Not surprisingly the design and construction of the historic stream diversions was based purely upon mining (operational) and engineering considerations. This led to the stream being diverted in a manner that achieved the clinical conveyance of design volumes of water from points A and B.   Solid Energy realised that the proposed new diversions need to adopt more holistic and environmentally sustainable design principles while also including appropriate mining and engineering constraints. This project involved the design of a 1.7 km diversion of the Morley Stream (median flow of about 1000 litres/second) that would enable progressive prestripping and development of the new mines and would also address final rehabilitation (of the stream), geotechnical risks, hydrological and ecological issues. To address all of these factors the project required a multidisciplinary approach. Moreover, it required a clear understanding of how the mining operational constraints could be integrated with the environmental considerations. A significant aspect of the project was how to take account of fishery instream habitat needs, the resource consent requirements and most of all, the involvement of key stakeholders such as the Fish & Game Council, Department of Conservation, the Iwi and local community in the design process. This was achieved through coordinated consultation and stakeholder involvement in a technical design workshop.

Jan 1, 2005

By I P. Hodkinson

SMC Resources Limited is implementing a selective mining approach at the Hadleigh Castle mine, formerly operated by Aurora Gold Limited. The main ore zone has a length of 250 metres and dips at 40 - 45¦ to the south. Gold mineralisation occurs in a variety of quartz-sulphide lodes in sericitised granodiorite. Shallow dips, alteration intensity and mineralisation style combine to make mining relatively difficult. Previously unworked, high-grade, shallow dipping (30 - 45¦), narrow quartz-sulphide lodes within the hanging-wall of the deposit are also being selectively exploited. Annual production of 35 000 oz Au is forecast from 185 000 tpa ore grading 6.5 g/t Au over a currently envisaged mine life of six years. Operations completed to-date include deepening the decline and access development of the first two levels beneath the previous workings. Longhole stoping operations have commenced in the main ore zone with air leg stoping also underway in the hanging wall lodes.

Jan 1, 1998

By Y Cao, J C. Tien

Occupational health and safety is essential in modern mining workplaces and in China it is often not given enough emphasis due to a lack of knowledge and/or appreciation. Although many health and safety regulations have been passed over the years, serious and relevant laws and regulations on mine health and safety are of recent history (since 2002), the level of stringent enforcement is still inconsistent and accurate field data are scant and not readily available. As of year-end 2006 there were 676 562 recorded cases of occupational diseases in China, of which 616 442 or 91 per cent were miners’ pneumoconiosis. Of these, 146 195 (23 per cent) have died, and an average of 10 000 new cases were added every year between 1991 and 2006. Another report shows that 93.18 per cent of miners have never had a contract with their companies, which means their cases were not even part of China’s official statistics. This study attempts to examine the prevalence of occupational diseases in the Chinese mining industry during 2000–2013, compiled from government annual reports and academic studies. The research will review the correlational analysis among occupational diseases, ventilation practices, protection devices and legislation.CITATION:Cao, Y and Tien, J C, 2015. Occupational diseases in China, with the emphasis on its occurrence in Chinese mine workers, in Proceedings The Australian Mine Ventilation Conference, pp 155–160 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Aug 31, 2015

By D Weatherley, T Baumgartl, L Huang, Q Shao

The stabilities of rehabilitated landforms are often threatened by the altered surface hydrology, especially the excessive surface run-off, which may cause severe water erosion and associated pollutant transport to surrounding areas. These effects would lead to pollution in waterways and render the failure of newly established vegetation. An accurate quantitative evaluation of run-off problems are consequently essential for the proper rehabilitation designs which can help minimise these harmful consequences. For this purpose, in this study a novel run-off model, RunCA, was developed based on Cellular Automata (CA), integrating fundamental hydraulic principles. In this model, a series of rectangular cells were employed to cover the study area. Run-off production within each cell was simulated by determining the cell state (water surface elevation) that consists of both cell altitude and water depth. The distribution of water flow among cells was determined by applying CA transition rules based on the improved minimisation-of-difference algorithm and the calculated flow travelling time. RunCA was applied to various aspects in mined land rehabilitation planning, including landform designs for both hill-slopes and tailings dams, revegetation strategies and cover constructions. Simulation results showed that surface run-off increased with slope gradient and more run-off was produced on convex and straight slopes than on concave and S-shape slopes. Both mounds and rip lines constructed on the tailings dam surface could help reduce the water discharge. Vegetation planted in rows were more effective than those in columns or patches in controlling run-off. Increased cover thickness had the potential in reducing run-off rates, and the covers with an increasing thickness from top to bottom of the slope tended to be more efficient than those with a constant thickness. All these results have demonstrated the efficacy of RunCA as a simulation tool in assessing the hydrologic behaviours of different rehabilitation designs. Compared to the traditional hydrologic models, most of which were developed for the catchment scale studies, RunCA has the potential advantages in capturing the dynamic and spatially varied run-off behaviours at different spatial and temporal scales.CITATION:Shao, Q,?Baumgartl, T, Huang, L and Weatherley, D, 2014. A cellular automata-based run-off model and its application in mined land rehabilitation designs, in Proceedings Life-of-Mine 2014 , pp 81–96 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Jul 16, 2014

By R L. Brathwaite

In New Zealand, volcanogenic massive sulfide (VMS) deposits are found in three main geological environments associated with: 1.   ophiolitic basalts of Oligocene age in Northland and East Cape (eg Pupuke, Pakotai, Parakao and Lottin Point); 2.   with chert and pillow lava in greywacke sequences of Permian-Jurassic age (Torlesse and Waipapa terranes; eg Kawau Island, Te Kumi and Maharahara) and their metamorphic equivalents (Haast Schist; eg Moke Creek and Waitahuna); and 3.   with greenschists (metabasalts) and metaserpentinite of Permian-Triassic age (Ponamu Ultramafics) in Westland (eg Bowen and Wilberg ranges). The deposits consist of small lenses of disseminated to massive sulfide minerals, mainly pyrite and chalcopyrite. Small quantities of copper ore were mined from some deposits in the 1800s (eg Kawau Island from 1846), with the last mining at Parakao from 1961 to 1966. Several deposits have been recently examined for their gold potential with assays on sulfide rock samples as high as 75 g/t Au (Lottin Point).

Jan 1, 2005

A broker relies heavily on mineral valuations and independent experts' reports to provide the fundamental information, both technical and commercial, which provides the basis of estimating the sharemarket value of securities and underlying assets. It is important to appreciate the significant variance that can occur between the market value and other types of valuation at a particular point in time. In general, most experts' reports and valuations seek to provide estimates of technical/fundamental or ""fair"" value which correspond to the Corporations Law and accounting standards requirements. They do not usually attempt to estimate (stock) market values and it is usually and quite correctly the broker's task to estimate market values on the basis of a technical appraisal and consideration of all other commercial, market and financial influences. Therefore ideally, an independent experts' report or information memorandum will include material relating to commercial and management aspects of a company as well as detailed technical reviews and fundamental valuations. Wherever sensible cash flow projections can be made, cash flow-derived valuations, usually based on discounted cash flow (DCF) calculations, remain the preferred valuation methodology. Brokers in general would not argue with this preference. However, there is a paucity of examples of valuations where alternative methods are applied as a check on the reasonableness of a DCF-based estimate.

Jan 1, 1994

By F Carrick, W A. Ellis, D R. Mulligan, S I. FitzGibbon

"One of the major environmental impacts of mining is the destruction of habitat. The koala (Phascolarctos cinereus) is an iconic Australian marsupial that has been severely affected by land clearing and its decline is continuing. This has placed pressure upon mining companies and government agencies to ensure koalas are managed throughout the life-of-mines - from land clearing through to rehabilitation of post-mining landscapes. This paper reports on the æKoala VentureÆ research partnership between The University of Queensland and Rio Tinto. As part of the Koala Venture program we examined koala use of two types of restored environments: rehabilitated mined land (20 sites) natural regrowth forests (six sites), at Blair Athol Coal Mine in Central Queensland, Australia. Searches for koala scats revealed evidence of koalas in ten per cent of rehabilitated sites (2/20) and 33 per cent of natural regrowth sites (2/6). Two factors were identified as being of greatest importance in facilitating koala recolonisation of restored habitats. Firstly, all recolonised sites were located close to native forest occupied by koalas (mean 135 m ¦ 52). Proximity to source animals is considered crucial to recolonisation of suitably restored habitats. Secondly, three of the four recolonised sites were dominated by koala food trees, most of which were large enough to be utilised by koalas. Availability of suitably abundant food resources is, therefore, also considered crucial. The requirement for these two factors, in combination, is highlighted by the absence of koalas at several sites that contained abundant food trees, but that were distal to areas with source animals, and vice-versa.Our research demonstrates the enormous potential for restoration of wildlife habitat on post-mining lands, even for species with specific requirements such as the koala. Consideration of the ecological requirements of wildlife during rehabilitation planning is critical to enhancing the likelihood of recolonisation.CITATION:FitzGibbon, S I, Ellis, W A, Mulligan, D R and Carrick, F, 2012. Rehabilitating post-mining landscapes for wildlife - A case study from the Koala Venture research program in Central Queensland, in Proceedings Life-of-Mine 2012, pp 319-324 (The Australasian Institute of Mining and Metallurgy: Melbourne)."

Jul 10, 2012