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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 analysts' 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 `floor' value, thus representing a valuable complement to any DCF valuation.

Jan 1, 2007

By M. J. Nicol, P. D. Scott

The kinetics of the non-oxidative dissolution in acids ofthe iron sulphides FeS, Fe-FeS, and Fe9S10 were studied by the use of rotating-disc electrodes of the various compounds. It was found that the rates of dissolution vary by orders of magnitude with changes in surface potential. The dissolution rates depend on non-integral orders of hydrogen-ion concentration, which in turn vary with potential. A mechanism based on the following premises is proposed to explain the kinetics of dissolution of the iron sulphides. (I) Only an FeS compound that is exactly stoichiometric dissolves in accordance with the accepted theory of ionic charge transfer. (2) Any non-stoichiometric iron-deficient iron sulphides must be reduced to exactly stoichiometric FeS before spontaneous non-oxidative dissolution can occur. The dissolution of Fe.S1o and slightly iron-deficient FeS compounds under open-circuit conditions occurs only when an oxidation reaction (usually the oxidation of hydrogen sulphide to elemental sulphur) can provide the electrons necessary for the production of exactly stoichiometric FeS. The establishment of such a mixed-potential system is the reason for the induction period that occurs during the dissolution of pyrrhotites in acids.

Jan 1, 1979

By J. W. Wilson, J. G. Taylor

The mechanization of haulage drilling in the gold mines of Anglo American Corporation by J. w. WILSON, Ph. D., C.Eng., M.AIME, F.!.Min.E., F.I.M.M. (Fellow), and J. G. TAYLOR, A.C.S.M., C.Eng., M.!.M.M. (Visitor) Some one-thousand kilometres of tunnels are mined annually in the gold mines of South Africa. Until two years ago, mechanized drilling on South African gold mines was not an economic proposition because of the availability of inexpensive labour and the fact that mechanized equipment developed for other mining markets could not perform satisfactorily in the tough, abrasive quartzites of theWitwatersrand System. A project team from the Technical Development Services Organisation of the Anglo American Corporation, in collaboration with various manufac turers of drill rigs and drill steel, has been concerned with the development of suitable equipment for mechanized main-haulage drilling. After two-and-a-half years of extensive testing and development of drifters, drill steels, and bits, many of the problems encountered have been sotved, and gradually jumbos mounting pneumatically and hydraulically powered drifters are being phased into production on various gold mines of the Group. A description of the development work is given, and actual operating results are recorded, together with details of the drilling and blasting techniques used.

Jan 1, 1975

An evaluation was made of the wear and performance characteristics of liter bars, and the cost-life effectiveness of backing materials for rotary-mil liners. In a large run-of-mine mil in which the liter bars were mounted on grid liners of austenitic manganese steel (AMS), the liners had an average life that was five to six times that of equivalent unprotected liners. For a single mil, this is equivalent to annual savings in the cost of materials of up to R320 000, and to a downtime of 100 hours. Of the five materials tested in a large pebble mil grinding quartzitic ore, AMS grids and 'white iron' blocks performed best on a cost-life basis, with possibly improved performance from a real white cast iron. (The 'white iron' was shown by microstructural analysis to contain flake raphite and pearlite, being in reality a grey cast iron.) The high-chromium white iron had by far the longest predicted life, with mild steel a surprising second. Rubber was shown to last well in this type of mil. The wear rates of liners change during their lifetimes. The protective effect of liter bars was clearly illustrated by the reduction of over 40 per cent in the wear rates of the liners when the lifter bars were renewed to a height of 80 mm from a fully worn height of 35 mm.

Jan 1, 1991

Actual observations of rockburst damage, together with some theoretical considerations, strongly suggest that conventional approaches to the design of tunnel support are inappropriate where there is a significant seismic risk. The present widely used support systems, which are based on stiff, fully grouted re-bars, are inadequate where rock displacement velocities exceed 1 m/s. It is shown by means of a simple conceptual model that yielding of the support elements is essential to ensure their survival when they are subject to the high strain rates typical of severe rockbursts. The model proposes that the total load in the element is an impulsive tensile force imposed and sustained by a single 'tributary' block ejected from the tunnel wall. The stability of the system is determined from a comparison of the kinetic energy developed by the block with the energy of deformation absorbed by a grouted steel tendon. A novel test procedure was developed for the validation of this approach, and for an examination of the energy-absorbing capacity of stiff and yielding tendons. The results of an initial series of tests showed that the recently developed cone-bolt is an effective yielding device. It absorbs twenty times more impulsive-load energy than is consumed by the complete fracture of grouted re-bar of equivalent strength, and it remains totally unscathed. Importantly, the results demonstrate that the ejection model is not merely an explanatory concept, but can be used as a representative and valid design method.

Jan 1, 1994

By S. L. Crouch

This paper describes a numerical procedure for the computation of the displacements and stresses induced by the mining of a tabular ore deposit in faulted ground. The numerical procedure is based on the displacement discontinuity method, which can be regarded as an application of Salamon's 'face element principle' to cases in which the reef plane is faulted into several sections, or even folded in an arbitrary way. An element of a fault is modelled in the same manner as an element of the reef, except that a fault element is allowed to undergo permanent inelastic deformation (i.e., slip) if the stresses transmitted through the fault-filling material satisfy a Mohr-Coulomb yield condition. An iterative technique for the incorporation of a Mohr-Coulomb yield condition in the general displacement discontinuity method is explained. This technique is illustrated by means of a simple example involving the mining of a flat-lying reef intersected by a fault. The displacements and stresses at selected locations along the fault are examined as the reef is mined, element by element. A consideration of the energy changes reveals that the occurrence of slip along a fault leads to a sudden increase in the energy release rate due to mining as the excavation intersects the fault. The energy release rate then falls off abruptly to a value less than that which would occur in the absence of any slip, and gradually builds up to re-establish the conditions that would exist in unfaulted ground.

Jan 1, 1979

By T. Gibson

It is generally accepted that South African coal mines have gone through the mechanization of most of its underground mines, and while there certainly were a lot of productivity improvements, the lack of visibility on these machines operating underground still leave vast areas for improvement. The average actual cutting time still remains very low, in the 30 per cent area, which leaves significant improvement possible. Currently all analysis is carried out using hand-written reports. Unfortunately this is subjective and often inaccurate because of human interpretation. In addition in order to avoid costly component failure, a monitoring system is required to warn of eminent failures and condition monitoring. The challenge faced was to supply and install a system that was ‘Open’ and could be retrofitted to existing machines in operation because of the current standard of communication links to the underground sections. In addition it was intended to use, existing ‘off the shelf’ software and hardware and adapting this for the harsh underground mining conditions wherever possible in order to reduce costs. As development occurred, as with all technology, doors opened to other opportunities such as, remote access data logging and Internet based reporting. We focused on the Voest Alpine Bergtechnik (VA) range of continuous miners, as need arose to achieve the desired cost improvements because of the strategy of service contracts the subsidiary company, Voest Alpine Mining & Tunnelling (VAMT) offer the mining industry in South Africa. This paper describes a data logging system that has been installed on various continuous miners that provides data in real time, on line, and that could be expanded to any electrically supplied underground mobile or stationary mining machine.

Sep 1, 2001

By L. G. Snyman

"South Africa is well endowed with a plethora of valuable minerals, as well as being of world renown for its significant ecological and cultural resources. The unfortunate reality is that these two important attributes often come into collision when developmental decisions are made. Robust environmental planning tools are required to guide such development in areas of heightened sensitivity. Environmental management frameworks are one of the tools that can attempt to achieve the desired developmental and ecological balance by utilizing early identification and mapping of sensitive ecosystems and resources to assist in pre-empting potential future land use conflicts. This paper unpacks the characteristics of environmental management frameworks and further investigates their potential, as well as its current design and implementation challenges. The findings show that environmental management frameworks have the potential to provide meaningful resource information to decision-makers on the opportunities and risks of developments in sensitive areas. They further provide a platform and process through which local stakeholders can voice their opinions and collectively drive the developmental priorities of the identified area.IntroductionAt the core of a harmonious and prosperous society is the balancing of a broad spectrum of needs, rights, and imperatives. As South Africa’s resource and energy needs expand, it becomes increasingly important to safeguard environmental rights and ensure sustainable development through creative measures. The State’s drive for accelerated development to meet the targets in the National Development Plan 2030 is contributing to the growth of invasive developments in previously undeveloped areas. The unfortunate reality is that the heightened tensions between rapid economic growth and environmental sustainability are threatening sensitive areas."

Jan 1, 2017

The mathematical models of semivariograms can be classified according to whether or not they correspond to situations where the second order stationarity conditions are satisfied (§ 3.3.4). If second order stationarity exists, the a priori variance s2 of x (z) also exists and is finite. For large distances h such that x (z) and x (z + h) are not correlated, the semi- variogram ? (h) will reach a value equal to s2 [this is a consequence of (3.27) above]. This limiting value is called the sill C of the semivariogram, and the distance at which ? (h) reaches the sill is called the range. The range of the semi- variogram obtained from a given type of sample corresponds to the distance of influence of these samples. If only the intrinsic hypothesis is satisfied, the sample variance is an increasing function of the size of the area or volume in which the samples are located, and the semivariogram ? (h) will be a continuously increasing function of h. Remark: It will be shown in Chapter 7 that the variance s2 of x (z) in the ore body O is equal to the average value of ? (h) in O. If ? (h) is a non-decreasing function with sill C, the average value of ? (h) in O will be less than C. s2 and C will be equal only if for some values of h in O, ? (h) exceeds C. In practice, if the range of the semivariogram is small with respect to the dimensions of the ore body, the difference between C and s2 will be negligible.

Jan 1, 1978

By M. D. G. Salamon

In view of an urgent need for a simple means of simulating the behaviour of stratified rock masses, a long-dormant linear model is revived, generalized, and discussed in some depth. The model is piecewise homogeneous, consisting of a pile of homogeneous isotropic laminae in which the interfaces between beds are parallel and free of shear stresses and cohesion. The continuity of stresses and normal displacements is assured across the bedding planes and, to maintain simplicity, the theory of thin plates is used as the kernel of the model. The paper covers the case where the rock mass consists of discrete beds in which the layers are arranged either heterogeneously or systematically. The stratification is regarded as uniform when all the layers are of the same thickness and their Young's modulus changes exponentially with depth; and as homogeneous when all the laminae have identical thickness and properties. The case of uniform stratification is also treated on the basis of an equivalent quasi-continuum derived from the basic model. Attention is focused on the derivation of influence functions. It is demonstrated that the quasi-continuous models, when they are available, can replace their distinct-layer counterparts. The homogeneous quasi-continuum, which permits the derivation of its influence functions in closed form, facilitates the determination of the roof and floor convergence. In the case of a significant class of problems, the convergence distribution is defined by a second-order differential equation in the xy plane, which simplifies to a Poisson's equation if the mining excavations are unsupported. With this result, the paper prepares for the solution of a host of practical problems. These solutions are presented in a series of papers that are in the course of publication.

Jan 1, 1991

By B. Zongwane, A. T. Visser

In surface mining operations, ultra-heavy trucks operate on haul road networks which are typically from 10–40 km in length. Road networks for these vehicles have historically been designed and maintained empirically, relying heavily on local experience. Whilst it is possible to construct amine haul road that requires no maintenance over its service life, this would be prohibitively expensive, as would the converse but rather in terms of vehicle operating and maintenance costs. An optimal functional design will include a certain amount and frequency of road maintenance which can be planned, scheduled and optimized within the limits of required road performance and minimum vehicle operating and road maintenance costs. For existing mine haul road networks, which may not be optimally designed and maintained, the problem of identifying existing deficiencies, quantifying their impact and assigning priorities within the constraints imposed by limited capital equipment and manpower is problematic. This is reflected in the fact that most surface mine operators agree good roads are desirable, but find it difficult to translate this into an effective road maintenance system. The aim of this paper is to present a road maintenance management system which utilizes on-board truck diagnostic data in conjunction with computer-based truck dispatch systems. Through a comparative analysis of the various haul road maintenance systems available to a mine, a condition-triggered road maintenance system is introduced. System architecture, evaluation of real-time data, event trigger level determination, specific condition signatures and real-time rolling resistance calculation are discussed. Finally the event, activity, transaction and notification system is portrayed in conjunction with the determination of key productivity indicators and benchmarked road and truck performance. Keywords: Haul road, maintenance, surface mining, rolling resistance, truck haulage.

Sep 1, 2001

By N. A. Barcza

An investigation was conducted into the reactions between the slag system MnO-CaO-MgO-SiO2(AI2O3) and the alloy system Mn-Fe-Si-(C). Synthetic slags representative of plant melts and a plant alloy were reacted in alumina crucibles at temperatures of 1400°C, 1450°C, 1550°C, and 1600°C. In similar experiments, slags were used that comprised a South African manganese ore with various amounts of lime and several synthetic alloys with various silicon contents and manganese-to-iron ratios. These experiments were conducted in a vertical molybdenum-wound resistance furnace with full temperature control. Slag-to-alloy ratios were also varied during the tests. The rate of reduction of Mn.O3 and the MnO from the slag by the silicon in the alloy was extremely rapid, most of the reaction being completed within five minutes. The strongly exothermic nature of the reaction resulted in considerable generation of heat at the slag-alloy interface, causing convectional stirring of the contents of the crucible and promoting the rate of reaction. Equilibrium was usually attained after fifteen minutes. The major limitation governing the recovery of manganese is the need for the silicon content of the alloy to meet a maximum specification of 2 per cent. Higher concentrations of silicon in the final alloy of between 8 and 12 per cent favour good recoveries of manganese from the slag, but, since such an alloy is not salable, lower recoveries must apparently be tolerated. In alloys of 2 per cent silicon, low activities of the silicon are responsible for poor recoveries of manganese. The activity of MnO in the slag can be increased by moderate additions of CaO and small amounts of MgO, i.e., by an increase in the basicity of the slag.

Jan 1, 1979

By S. M. Spottiswoode, Linzer. L. M.

We report on further progress in improving seismic locations by using the so-called double-difference method (Spottiswoode and Milev, 1998 and Waldhauser et al., 1999). Double-differences are obtained either using picked arrival times or various measures of time differences obtained from waveform pairs. The double-difference method provides for much improved relative locations by reducing the effect of the errors in the wave velocity of ray paths between each event and each geophone. Further improvements are obtained by using known locations, such as blasts. One of the difficult problems that we have overcome is that of finding the best “weights” for the time corrections. Experience obtained in relative moment tensor inversions by Andersen (2001) suggests that use of median corrections is both more stable and more accurate, even while the locations of the individual events is based on weighted least-squares minimization. A hybrid location program with known reference events has been developed. Tests on a synthetic data set gave relative locations that were much less widely spread than the absolute locations. The use of known event coordinates (blasts) moved the relative locations back towards the real locations. These results are confirmed in preliminary analysis of data from a mine. The absolute locations are adjusted using blast events restricted to the line of tunnel development. Inter-event distances are distributed in a power-law fashion that suggests that the relative location accuracies are improved by a factor of three or more. Nous rendons compte des progrès faits dans l’amélioration des locations de séismes en utilisant la méthode appelée de double- différence (Spottiswoode and Milev, 1998 et Waldhauser et al., 1999). On obtient les double-différences soit en utilisant des temps d’arrivée choisis soit des mesures variées de différences de temps obtenues de doublets de forme d’onde. La méthode de double-différence fournit des locations relatives très améliorées en réduisant l’effet des erreurs dans la vitesse d’onde des trajectoires de rayon entre chaque évènement et chaque géophone. D’autres améliorations sont obtenues en utilisant des locations connues, telles que les coups de mine. Un des problèmes difficiles que nous avons surmontés est celui de trouver les meilleurs coefficients de pondération pour les corrections de temps. L’expérience obtenue dans des inversions de phases tensorielles relatives par Andersen (2001) suggère que l’utilisation de corrections médianes est à la fois plus stable et plus exacte, même lorsque la location des évènements individuels est basée sur minimisation pondérée de moindres carrés. Nous avons développé un programme hybride de location avec des évènements connus pour référence. Des tests sur des données artificielles ont donné des locations relatives qui étaient beaucoup moins étendues que les locations absolues. L’utilisation de coordonnées d’évènements connus (coups de mine) a ramené les locations relatives vers les locations réelles. L’analyse préliminaire des données d’une mine a confirmé ces résultats. Les locations absolues sont ajustées en utilisant des évènements de coup de mine restreints à la ligne du développement du tunnel. Les distances entre chaque évènement sont distribuées comme par loi exponentielle ce qui suggère que les degrés d’exactitude des locations relatives sont améliorés par un facteur de trois ou plus. Wir berichten über einen weiteren Fortschritt, die seismische Positionen unter Verwendung der zu sogenannten Doppel-Unterschied-Methode (Spottiswoode und Milev, 1998 und Waldhauser et al.,1999) zu verbessern. Doppel-Unterschiede werden entweder mit ausgewählten Ankunftszeiten oder verschiedenen Messungen von Zeitunterschieden erreicht, die von den Wellenformpaaren erhalten werden. Die Doppel-Unterschied-Methode liefert viel verbesserte relative Positionen unter Verringerung der Auswirkung von Fehlern in der Wellengeschwindigkeit von Strahlengängen zwischen jedem Fall und jedem Geophon. Weitere Verbesserungen werden erreicht, indem man bekannte Positionen, wie Sprengungen verwendet. Eines der schwierigen Probleme, die wir überwunden haben, ist jenes des Findens der besten "Gewichte" für die Zeitkorrekturen. Die Erfahrung, die in den relativen Momentspannerumkehrungen von Andersen (2001) gewonnen werden bietet den Schluß an, daß der Gebrauch von mittleren Korrekturen beständiger und genauer ist, sogar wenn die Positionen der einzelnen Fälle auf der bewerteten Reduzierung der Methode der kleinsten Quadrate basiert. Ein hybrides Positionsprogramm mit bekannten Bezugsfällen ist entwickelt worden. Tests auf einem synthetischen Dataset gaben relative Positionen, die viel weniger weit gestreut waren als die absoluten Positionen. Der Gebrauch von bekannten Fallkoordinaten (Sprengungen) schob die

Jan 1, 2003

The Annual General Meeting of the Institute was held in Kelvin House, Johannesburg, on Wednesday, 30th August, 1972. Professor D. D. Howat (President) was in the chair. There were also present sixty-two Fellows, twenty-four Members, two Associates, three Students and eighteen Visitors, making a total of one hundred and nine. The President declared the meeting open at 4.05 p.m. OBITUARIES The President: It is my sad duty to announce the death of six members of this Institute. The first of these is Dr A. J. Orenstein, Honorary Life Fellow, who joined the Institute in 1916 and died on Seventh July. Dr Orenstein became almost a legendary figure in Medicine as a result of his work in the control and elimination of malaria during the digging of the Panama Canal and I believe he was actually engaged working until four days before his death. The other members who have died are: F. Meyer, died on 8th June; S. D. Loxton, Fellow, died on 13th May; J. Innes, Fellow, died on l0th January, 1970; O. B. Prentis, a Member, died on 4th June, and J. Brits, Associate, died on 27th June. As a mark of respect to the memory of the deceased and in sympathy with the bereaved may I ask you to rise and observe a few moments silence. MINUTES The President: 'The second item on the Agenda, the minutes of the meetings held on March 22nd and May 10th, 1972, as tabled. May I confirm these minutes'? Agreed. WELCOME TO VISITORS 'On behalf of the Council, may I say how delighted we are to have such a splendid gathering with us on this our Annual General Meeting. Dames en here vir die omvang van my Afrikaanse woordeskat verdien ek weinig lof, boonop is dit nog Afrikaans met 'n Skotse aksent, wat u asseblief moet verskoon. Tog wil ek se hoe dankbaar ons is dat sy Edele, die Minister van Mynwese, dr Koornhof en mev Koornhof vandag hier teenwoordig kan wees. In addition to our own newly appointed Minister of Mines, we are also honoured by the presence of the Minister of Mines of Rhodesia, Mr I. B. Dillon. I think not even our oldest members can recall an occasion on which two Ministers of Mines were present at a meeting of the Institute. It is a particular pleasure to welcome them this afternoon. I am happy to say that Minister Koornhof is an Honorary-Vice President of the Institute, and Minister Dillon is an Honorary Member. The presence of your goodselves, gentlemen, with us this afternoon, I am sure underlines the great significance which we believe both countries attach to the economic exploitation of the vast mineral resources of Southern Africa. For over 70 years, this Institute and its members have been making their contribution to this great task of mineral exploitation, and we feel that your presence with us today, is a token of the confidence of your governments in what this Institute and its members have been endeavouring to do. Also present with us today, is Mr R. C. J. Goode, President of the Chamber of Mines, and Honorary President of this Institute. I was going to say I welcome Mr Goode, but it is rather difficult to welcome a man to his own home, and this is the case with Mr Goode. He is a very distinguished and a very recent past president of this Institute and he remains now, as he has been for as long as I can remember, one of our most active and valuable members. This I think, ladies and gentlemen, is the second rather unique feature of this occasion this afternoon, because no one else can recollect an occasion on which the President of the Chamber of Mines was also a past president and an active member of our Institute. A special word of welcome, Mr Goode. Mr Tommy Gibbs, our Government Mining Engineer, is in a somewhat similar position as he is also a member and an old and valued friend of our Institute, - welcome to you, Mr Gibbs. Mention I think, must be made of the fact that we are very glad to have with us Dr A. J. A. Roux, President of the Atomic Energy Board, and Mr Stanley Craib, President of the Associated Scientific and Technical Societies. Then, within the great family of the A.S. and T.S., we have the presidents, or the vice-presidents of I believe 13 of the constituent societies. These gentlemen, like all the rest of us, have the rather tiring task of supporting and upholding their fellow presidents on occasions such as this. We particularly appreciate their presence this afternoon and the effort they have made to be with us. We are happy to have with us: Dr R. E. Robinson, Director-General, National Institute of Metallurgy, Mr E. Boden, Manager, Associated Scientific and Technical Societies, Dr H. G. Denkhaus, President, The S.A. Institute of Mechanical Engineers, Mr G. Goedhals, Vice-President, S.A. Institute of Electrical Engineers, Mr E. Dalton, President" S.A. Institute of Certificated

The Federation of Societies of Professional Engineers Our Institute is a member of the Federation and, to give members some idea of the work of the latter body, a few notes are submitted from the Federation's annual report for the year ended June 1973.

Jan 2, 1974

Papers of Interest The following papers may be of interest to members. APCOM The Thirteenth International Symposium on the Application of Operation Research and Computer Techniques for Decision Making in the Mineral Industries will be held at the Technical University CIausthaI, Federal Republic of Germany, from 6th to 11th October, 1975.

Jan 1, 1975

By G. L. du Plessis

This paper describes the design, installation and operation of an endless rope haulage system recently built for and commissioned at Evander Gold Mines in Mpumalanga, South Africa. The factors which lead to the choice of such a system and the advantages gained over more commonly used winding systems are outlined.

Sep 1, 2001

By R. P. King

The ideas leading to the formulation and utilization of a flotation model are developed. The main theoretical and experimental work that has been carried out by the National Institute for Metallurgy Research Group at the University of Natal is presented. The two experimental flotation plants available to this Group are described.

By J. Palarski

Long waling is used in most Polish coal seams, with backfilling to support the roof, to create an artificial hanging wall to prevent movement if the rockmass, and to eliminate the fire hazard in abandoned mine workings. This paper discusses the results if tests conducted on 7 different backfill mixtures, and gives equations for the estimation if the flow if backfill slurries through gravitational pipelines.

Jan 1, 1994

By F. van Heerden

The paper sketches the. management of the various phases in a cost-reimbursable, plus-fee contract. which is claimed to be the most flexible of all contracts. In this type of contract, the contractor is reimbursed for all the direct costs Incurred, plus a percentage fee to cover his profit (or overheads and profit). The client usually reserves the right to approve all drawings, equipment purchases. contract awards, technical specifications. project cheques and change orders.

Jan 1, 1982