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By P Guj, J A. Bell

The valuation of early-stage exploration projects requires a valuer to take into account a large number of uncertain value drivers, the interplay among which may be non-linear. This paper examines some of the key value drivers including geology, target metrics, project area and maturity, the market and the psychology behind the decision-making process. The commonly accepted valuation methods and their underlying logic are outlined, including a view on why they evolved, what value drivers they attempt to address and their potential shortcomings. These methods include the multiple of exploration expenditure, geoscience rating, expected values and market based methods. The potential future valuation methods of replacement values and neural networks are also introduced along with how to minimise heuristic bias and error within the market-based approach.CITATION:Bell, J A and Guj, P, 2012. Exploration value drivers and methodologies, in Proceedings Project Evaluation 2012 , pp 17-28 (The Australasian Institute of Mining and Metallurgy: Melbourne).

May 24, 2012

By G A. Wellwood

What do all iron ore mines have in common? Perfect production days! Yes, those harmonious 24-hour periods when the stars align and the daily output number rockets past the long-term average to hit new heights. While perfect days are always welcome, the focusing question iswas that just a ‘flash in the pan’ (due to a special cause) or an indication of the process’s capability (with clues to the common causes) which, if addressed, could make every day perfect? In the context of today’s operating environment, with the need to maximise productivity at minimum cost, it’s an important question.Investigations reveal that the throughput difference between a perfect production day and the average is often in the order of 40 per cent, and that bulk solids handling (BSH) system deficiencies are the largest (>50 per cent) class of lost opportunity. Root causes for underperformance of elements in BSH systems can often be traced back to the detailed design and even study-stage oversights. Essentially baked into the fabricated plant, operations are effectively forced to accept them at the point of practical completion and then deal with the consequences for the life of the mine. Subsequent normalisation of these defects in the planning process reduces visibility and hence the impetus for long-term solutions in favour of lower targets and quick fixes to keep the show on the road. On an industry wide basis the design processes and assumptions responsible for BSH system underperformance become enshrined as common practice and hence repeated across sites and organisations.In addition to making the case for action, practical steps that can be taken to help realise the significant productivity prize and avoid the problems in first place are provided.CITATION:Wellwood, G A, 2017. One perfect (production) day – a bulk solids handling perspective, in Proceedings Iron Ore 2017, pp 443–452 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Jul 24, 2017

Hydrogen and carbon monoxide reduction data were obtained on pelletized materials of the type currently being prepared commercially in Australia.Pellets, approximately 1 cm diameter, made from Deepdale, Iron Prince, and Mt. Newman iron ore were reduced by hydrogen over the temperature range 500°-900°C and the reduced pellets were examined by thermogravimetric, microscopic, electron probe, and x-ray techniques. After an initial time delay it was found that up to 95 per cent reduction the data could be described by a porous model where gaseous diffusion through the solid is rate controlling. Independent measurements of effective diffusivity supported the values obtained from the reduction data. Above 95 per cent reduction the rate decreased markedly due to the formation of retained wustite or fayalite.Comparison with reduction by carbon monoxide over the temperature range 750°-900°C showed that the rate of reduction was approximately five times slower than for reduction by hydrogen.The rate of reduction was found to be a function of the initial properties of the pellets which may account for the widely conflicting results that have been obtained with previous investigations on porous pellets.

Jan 1, 1971

By Clarke P. E

At the end of the recent war, reports became available from Europe of the use of tungsten-carbide inserts in percussion rockdrill bits. These bits were used with small size rockdrills, so that the only advantage gained from the use of the harder, abrasion resistant, tungsten-carbide appears to have been the greater life of the bit. Larger machines, such as used in Australia in conventional practice, had to be discarded to protect the relatively brittle tungstencarbide inserts and the vulnerable bonding with the bit body.As it had been found in machine shop practice that some grades of tungsten-carbide had been produced with considerably improved toughness, it was decided by Gold Mines of Australia Ltd. that drilling practice with tungstencarbide bits warranted detailed examination under Australian conditions, and that drilling tests should be undertaken at Morning Star (G.M.A.) Mines N.L., for which it acts as General Manager and Consultant.These investigations progressed through three stages:1. Preliminary Investigations and Tests.When the investigations were initiated no commercial bits were available in Australia, and manufacture was commenced with improvised equipment from virtual scratch. These early tests indicated that the use of 3 in. bore rockdrills in conjunction with tungsten-carbide insert bits was a 'possibility, and that it was unlikely that a small bore...

Jan 1, 1950

Whilst the fossil fuel-based power industry moves towards carbon capture and storage (CCS) or so-called 'geosequestration', the minerals industry should adapt to reap the benefits of the new technology. If CCS becomes viable, the door is open to potential key developments in mineral processing. For example, truly continuous steelmaking could at last be realised using natural or manufactured gas combined with generic melt circulation. Iron ore fines would form a thin molten layer moving countercurrent to the gaseous reductant on one side of a melt circulation loop with efficient post-combustion without deleterious effects of slag accumulation on the other. This eliminates oxygen steelmaking because carbon has no access to the circulating molten iron. Steelmaking merely requires addition of the appropriate low level of carbon and in-line impurities removal to meet product specification. Concerning non-ferrous smelting, nothing short of virtually zero gas emission will be acceptable in the future. For dolomite-hosted Zn/Pb sulfide ores, typified by those in the Carpentaria region of Northern Australia, the way forward proposed is sulfur fixation at the mine site employing the highly exothermic reaction of SO2 with dolomite, followed by encapsulation of sulfated dolomite in fused ore slag. This releases enough energy for direct ore smelting to individual metal products. However, without CCS the strategy would be unacceptable because of greenhouse gas emissions. The scheme is advocated for direct ore smelting at McArthur River. As a result, the environmental problems of disposal of flotation tailings are avoided. Also, highly energy intensive ultra-fine grinding is eliminated, as indeed froth flotation itself, with overall very significant energy savings and exceptionally high increases in metals recovery. Zinc and lead recoveries approaching 99 per cent are predicted to be entirely feasible.

Sep 13, 2010

This paper sets out to examine the possible relationships between three factors, they are, the rate of growth of world production of minerals, the growth of Australian production and the growth of scientific and engineering knowledge.The first two are quantified, in terms of tonnes and value. The third, an abstract concept "knowledge", requires to be quantified, in terms of manpower.A mathematical model, which has general application, was derived to demonstrate certain axiomatic premises and to define, more precisely, basic concepts related to the philosophy of knowledge.Finally a summary is made of education-cum-industry issues.

Jan 1, 1981

By McIntosh A. H, Torlach J. A

Since the last paper on mining methods was presented to the Annual Conference of the Australasian Institute of Mining and Metallurgy in 1:960, numerous advances have been made in drilling and blasting techniques at Mount Morgan. This paper describes the drilling and blasting methods being employed in the open cut. The change over to track mounted percussion drills for all types of primary drilling is almost complete and new techniques such as detergent drilling and pressure loading of ANFO are being applied successfully.

Jan 1, 1965

By King E. J

Department of Pathology, British Post-graduate Medical School, London:The experiments here recorded were devised and carried -out during the last two years in an attempt to corroborate the important work of Denny, Robson and Irwin (1939) in which they found that experimental silicosis could be prevented by means of metallic aluminum. By causing rabbits to inhale powdered quartz for several months they induced experimental silicosis. These animals then served as controls for comparison with another group which were dusted with a mixture of quartz and aluminum. In the second group silicosis failed to develop.Our experimental procedure was somewhat different. We resorted to intratracheal insufflation instead of simple inhalation, and we used rats instead of rabbits: otherwise the essential features of the original experiments were carefully duplicated.EXPERIMENTAL PROCEDURES.A single dose of dust was delivered into the lungs of each animal. The dust was suspended in a fluid medium and injected by means of a syringe directly into the trachea in known quantity (technique of Kettle and Hilton, 1932). The suspensions were autoclaved before use and were injected with aseptic precautions. Having had a long experience of this technique we employed it with confidence and usually secured a fairly uniform dispersal of dust throughout both lungs. To carry out injections successfully one requires, above all, an even suspension of dust which will flow smoothly and quickly from the syringe. This is not difficult in the case of quartz, for, though it tends to settle out rather quickly, this can be avoided by constantly agitating the suspension. The syringe containing the inoculum may be shaken gently right up to the moment of injection and then emptied quickly to prevent sedimentation. Powdered aluminum is more difficult to handle, for the particles tend to flocculate and are not readily made to disperse evenly in saline, even by violent shaking. For this reason an emulsifying agent may be used to advantage, provided it does not complicate the experiment, a point to be mentioned again presently.THE EXPERIMENTSExperiments with quartz alone: Extensive silicotic lesions were produced in 23 out of 26 rats by the administration of pure quartz dust in doses of from 50 to 200 mg. per rat. The dust was so finely pulverised that the particles averaged about 1-p. in size: none was larger than 5 p. and 99 per cent. were under 2.5 p.Eight of these animals survived for seven months and were then killed...

Jan 1, 1945

Stratiform lead-zinc mineralization at the Pegmont prospect occurs as a 4-6 m thick body interbedded within arkose, schist, amphibolite, and pegmatite of the Kuridala Formation in the Eastern Belt of the Lower Proterozoic of northwest Queensland.The overall structure of the body is that of a strongly crumpled east-dipping sheet. In detail it is subjected to complex and irregular deformation.Gossaneous outcrops of the mineralised body are anomalous in Pb-Zn-Ag content and have been traced, discontinuously, over about 36 km2 in a NNE-trending belt.Below the zone of oxidation, which reaches 25-40 m below the surface, the primary sulphides are galena, sphalerite, and pyrite.Drilling on a 2 km2 area near the discovery outcrops indicates fairly uniform grades of lead and zinc.Changes in thickness of the mineralised body are gradual.

Jan 1, 1977

By Jones S. C

The problem of sealing a fluid serieite zone at a hole depth of 4000 ft was overcome by using a composite non-return valve plug and rod assembly which enabled cement to be forced under pressure into the zoneà

Jan 1, 1966

A clear understanding of the meanings of terms is important when discussing a project. Whether it is a submission, an investment study, a feasibility study, an environmental impact statement, an estimate, a tender, a contract, or a close-out.report, the need for all parties involved to understand what is under discussion or what has been written is paramount. The clarity of definition and the level of understanding can affect the outcome of the project. It is vital that all parties know what is wanted, what is expected, and what it will cost. This paper draws attention to some of the problems that beset many projects, clients, project managers and contractors, and it is hoped that its presentation will encourage us to pay more attention to defining what it is that is required. Ultimately we should all be the richer for having defined and understood the requirements at the beginning rather than at the end.

Jan 1, 1990

In dealing with the pulverization and treatment of auriferous ores, it may be stated that there is not one system of treatment applicable to all classes. In the southern portion of New Zealand the ores generally contain free gold, with scarcely any impurity that is, it is found in an almost pure state, without any alloy, and its dissemination amongst the matrix is generally in tolerably coarse particles. The only difficulties the mill man has to contend with, are the economical concentration of pyrites, which in some of the lodes are rich in gold, and the extraction of the gold the pyrites contain. In some of the lodes there is what may be termed float gold, that is, the particles of the precious metal are so finely divided that it passes over the quicksilver tables, and, unless there are other appliances for saving it, this class of gold is entirely lost.Indeed it is only within the last five years that any attention has been given, in the southern portion of the colony, to saving the fine gold that has passed the amalgamating tables. In the North Island the ores are very complex there are scarcely two mines, although they may be adjoining each other, where the bullion is of the same character. On every field the gold is alloyed with silver', and in combination with other metals and mineral substances, such as copper, zinc, antimony, galenfl, iron, sulphur, arsenic, etc., and, in some instaaces, cinnabar, as in the case of the Champion lode at Tui Creek, Te Aroha. Ores of this class are extremly difficult to treat satisfactorily.

Jan 1, 1903

æSustainabilityÆ is one of those words that has gained more usage in popular discourse than in the dictionary. In fact it is not in many dictionaries at all. Typically, given this, it also seems to mean different things depending on whose lips it emerges from. It is now like a code word in that if people say it, you donÆt have to think about its meaning; it is just æthereÆ and is taken for granted. This is a problem for the mining industry as we are now using the term too and to be effective in what we do, we need to have a reality check and see how those outside who have views on us (æstakeholdersÆ maybe) use it. The core issue seems to be æsustainability of whatÆ: the industry?, a company?, the global environment?, particular ecosystems?, the community? At these levels, the term seems almost meaningless. If we do not even agree on what it is, at least broadly, our communication and possible partnerships for going forward will be difficult to say the least. One reference to æsustainÆ in my thesaurus is: æTo keep from failing during stress or difficultyÆ. This may be a clue to something approaching a common notion. I suggest that to use æsustainabilityÆ we make the following assumptions:that we are talking about human activity aimed at making a living that has an impact on the natural and social environment; that humans must make a living (though what this needs to include is problematic); that the impact of particular activities has been problematic to date and needs to be monitored, altered, stopped, etc; that there is stress on both social and natural environments; and that change can be effected in order that particular activities such as mining minimise their negative effects and maximise their positive. This is why we are taking part in sessions such as this one today. Two more initial observations: First, it strikes me that even with the above assumptions laid out, æsustainabilityÆ and æsustainable developmentÆ are too abstract and general as concepts. We have to break these high and mighty ideals down into workable, bite-size chunks, into practical ways of dealing with the world outside our sites and companies. Second, sustainability, on both sides of the fence, too often focuses on nature and environment as though they are independent of people and community. I would argue, perhaps provocatively, that sustainability is primarily a people issue and has to be tackled as such. I want to look at the overall climate for business today and how it has responded before I return to what we can and need to do as the mining industry to make æsustainabilityÆwork.

Jan 1, 2002

By M J. Daniel

Mineral resources all over the world are often heterogeneous and have variable ore properties and ore grade. As a result the ore processed in concentrating plants varies over the life of mines. Consequently the circuits often suffer from bottlenecks typically at the stages of crushing, semi-autogeneous (SAG) and ball milling. Bottlenecks may be remedied with equipment retrofits, however, design engineers should consider a phased approach to the circuit design that delays initial capital expenditure over the life-of-mine. This paper deals with the debottlenecking of existing mineral processing plants by means of high pressure grinding roll (HPGR) applications. It also deals with the use of innovative flow sheet designs using HPGRs for the design of Greenfield plants by engineering or mining companies. In the case of Greenfield plant design an analysis with respect to energy efficiency and operating cost (OPEX) is presented. The analysis compares the performance of SAG based circuits against HPGR circuits that may be influenced by variable ore properties. Globally about 600 HPGRs are installed in various applications in the cement and minerals industries. In excess of 100 of these HPGRs are used since the mid 1980s for crushing and grinding of various ore types including æhard rockÆ applications. HPGR technology is mature enough to be considered as an ideal debottlenecking device. HPGRÆs are versatile, they have a low installation footprint and they are flexible in its machine settings (pressure, roll speed), which can be adjusted to react to ore variations whilst maintaining a high throughput. Examples for the benefits of using HPGR in terms of energy efficiency and operating costs are presented by this paper. æEco-efficientÆ flow sheets and sustainable development initiatives are linked to energy savings as an æenergy costÆ and benefit to the environment. Energy savingsÆ can also be analysed in terms of the ædollar costÆ (OPEX) savings. This paper demonstrates that HPGR is more energy efficient and may reduce the overall grinding energy requirements in the order of 16 per cent depending on the target grind size and ore properties. The HPGR is more cost efficient and may reduce overall grinding costs by as much as 19.3 per cent depending on the cost of energy, grinding media and the rate of grinding media wear in the comminution circuit.

Jan 1, 2009

Variations in delay timing can have a marked influence on blasting effectiveness and, hence, on total production costs. In single-row bench blasts, delay firing is invariably more effective than simultaneous initiation. In single-row delayed blasts, there is an optimum inter-hole delay above and below which inferior blasting results are obtained. This optimum delay is equal to the time required for each charge to just effectively detach its quota of the burden. The inter-hole delay should seldom be less than 4 ms.m-l of burden.In multi-row blasts in which holes in a given effective row are fired on the same delay, the entire burden on any effective row should be detached from the rock mass just before charges in the next effeotive row detonate. Delays shorter than this give inferior blasting results and an increased likelihood of environmental and slope stability problems. If the inter-row delay is too long, cut-offs can occur, especially where the delay unit is located outside the blasthole. For a surface delay system, the optimum inter-row delay usually varies between 4 ms.m-l and 8 ms.m-l of effective burden. The number of rows that can be fired effectively with surface delay systems (in a single blast) is limited by the threat of cut-offs. Greater interrow delays and a larger number of rows per blast can be fired to advantage with down-the-hole delay systems.There are practical limits to the timing accuracy of all available delay systems. The existence of delay time variability should be recognized and duly considered in the design of blasts.The relationship between delay timing and blasting vibrations is not discussed.

Jan 1, 1977

Coal has become an enormously important export industry. Owing to a range of mainly natural advantages, Australia has been able to almost treble its exports in a little over the last decade. Australia is now the world's second largest exporter and coal is now the nation's largest single export earner.Despite this very significant growth, Australia's competitive position is in jeopardy.

Jan 1, 1984

Local conditions at Hatches Creek are described, together with the mineralogy, mining and treatment of tungsten ores, with particular reference to procedures adopted by Pimer Mines, N.L.The Hatches Creek tungsten field covers an area of about 20 square miles in: Central Australia; 285 miles' N.E. of Alice Springs. Access is by rail to Alice Springs, then by 200 miles of bitumen highway to Barlo Creek and 8,5, miles of bush track to the field. Passengers can also reach the mines by... A semi-desert climate prevails Rain; generally in the form of thunderstorms falls in the summer months: December to March. Average annual rainfall is approximately 15 inches but there is great variation from year to year, occasional droughts being followed by torrential downpours. Vegetation is sparse except in the wide creek beds. Surface water occurs in rock holes some of which, spaced miles apart, carry permanent water...

Jan 1, 1955

A President, soon after he is appointed, sees looming ahead of him the Presidential Address; and in something approaching despair wonders what he can possibly talk about which might hold the interest of his audience. After various casts about, it occurred to me that perhaps prospecting, and more particularly prospecting in Australia, might provide a subject. This is because, 'in the first place, 'prospecting is passing from the stage of chance surface discovery to that of systematic search applying scientific methods to theproblems involved, and in the second, it is the section of the industry with which I have been concerned through much of my: working life. As it makes an address of this sort more interesting if it includes specific reference to actual experience, I hope you will bear with me in such references to actual prospecting as I may use to illustrate the argument. Prospecting has always carried the glamour of sudden wealth. The picture of the prospector engaged, perhaps for years, in fruitless search suddenly coming on riches beyondhis hopes is, deeply etched in the Australian imagination. In few other places has the fervour of prospecting run higher than it did in Victoria in the generation beginning little more than a century ago following the discovery of gold.People arrived from overseas in great numbers. Most of them proceeded to: the goldfields. They moved in thousands from new find to new find. In 'so doing' they determined much of the course of the State's development. The experience of prospectors led them to formulate all sorts of theories little impeded by awkward facts, to account for the apparently unpredictable occurrence of gold.The ideas which men followed, occasionally to success, and which they were prepared to back with all they had were strange and, various, many stories are told of them.

Jan 1, 1959

Based on the examination of thirty sets of contiguous matte and slag samples taken from industrial nickel smelters a relationship is predicted between oxidic nickel in slag, oxygen in matte and the Ni/Fe ratio in the matte. Oxidic nickel in the slag is found to increase with an increase in oxygen content of a matte of constant Ni/Fe ratio, and it is proposed that the relationship may be used to predict nickel solubility in slag from a knowledge of matte composition alone.

Jan 1, 1980

By I Sherrell, R Jain, P Jansson

With the depleting iron reserves and difficult market conditions, precision in separation efficiency is of utmost importance. Classical local control options are predominant in the industry, but their inability to adjust to resolve application problems of interest has furthered the need of developing and implementing continuous control methodologies.This paper highlights the recent development in control of Outotec SLon® vertically pulsating high gradient magnetic separator (VPHGMS) including programmable logic controllers (PLC) coupled with distributed control system (DCS), on-site human–machine interface (HMI) control panel, advanced process control, continuous online sampling using Courier® 8 and additional modernisation packages including level control and cooling monitoring. These modern control options result in improved efficiencies, promote safer operation and at the same time reduce operational manpower needs.CITATION:Jain, R, Sherrell, I and Jansson, P, 2017. Automation for efficient separation with the Outotec SLon® vertically pulsating high gradient magnetic separator, in Proceedings Iron Ore 2017, pp 211–214 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Jul 24, 2017