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By R Garzon

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

Jan 1, 2007

The role of government and the community has changed significantly over the last two decades in relation to environment protection, particularly in the mining sector. Increased community expectations have moved well ahead of regulatory requirements, and there is now a much greater appreciation generally of the concepts of ecologically sustainable development and intergenerational equity, and the gap between current practice and practices which would be in harmony with these concepts. Besides providing a `safety net' through regulations to ensure that basic environmental performance standards are met, government is now working proactively with the mining industry to encourage higher levels of environmental performance. This paper describes some initiatives between the Commonwealth government and the industry designed to achieve these higher levels of environmental performance, through programs aimed at the paradigms of best practice environmental management and continual improvement.

Jan 1, 1997

The underground storage of LPG and other hydrocarbons is in current commercial use in Northern Hemisphere countries in Europe, Asia and the USA.Elgas Pty Ltd, a 50 per cent joint venture between AGL and BOC, embarked on a worldwide feasibility investigation in 1989 to establish the viability of constructing an underground LPG storage facility in Sydney, Australia, the first of its kind in the country. Elgas recognised that with the limited 19 000 tonnes of storage capacity at Port Botany and the limitations imposed by use of small coastal ships (up to 10 000 tonnes capacity), a larger storage facility was required to utilise higher capacity ships from more remote sources such as the North West shelf and overseas. This would achieve security of supply in high demand periods and economies of scale. The underground option also provides improvements to safety and environmental standards.

Jan 1, 1999

Over a century ago the first ship designed solely for carrying a bulk cargo was launched. This vessel, the "John Bowes", with a deadweight of 660 tonnes was a single decked ship with machinery and accommodation aft. As such she was undoubtedly the fore- runner of the bulk carrier of today only some two hundred and fifty times smaller. Whilst the "John Bowes" pioneered the present accepted mode of transporting the bulk com- modities of the world, it is unlikely that her cargo was either loaded or discharged as quickly as that of a 150, 000 tonner of today. Two decades ago the bulk carrier was beginning to feature in the bulk handling ports of the world. Cargoes of iron ore previously carried in the 'tween deck vessels of the Empire type and Second World War Liberty ships began to be poured into the unrestricted open holds of bulk or ore carriers. The size of vessels catering for this relatively new innovation has rapidly grown to pass the 150, 000 deadweight tonne mark, but only in the last few years. The growth from now into the future is not simply one of ship size evolution. Neither is it a function of the depth of water available at ports. It is in fact a function of a number of features such as ports, loading and unloading facilities, ship trading characteristics, length of voyage and total economies of the transport task from supplier to destination.

Jan 1, 1973

A sequence of ultramafic units, very well exposed in Munro township in the Abitibi areal, of the Cahadian Shield, exhibit features which indicate that they are sub-aqueous extrusions. They occur within a sequence of tholeiitic pillow lavas, thin graphitic sediments. and large differentiated sills. The units range from a few metres to more than 250 m in length and less than 1 m to over 30 m in thickness. Over 60 individual units, occurring as flat pancakes on top of one another, make up a total exposed thickness of 150 m. The units have formed from a magma composed of a very olivine-rich picritic liquid carrying up,to 40 per cent olivine phenocrysts in suspension. Different units display a variety,of cross-sectional profiles. As an example of the most extreme type of profile, a typical unit 2 m thick consists of a cap of highly jointed fine-grained quenched rock, 10-30 cm thick, which becomes coarser downwards, grading into a zone composed of radiating and criss- crossing skeletal olivine crystals forming the well-known spinifex texture. This becomes even coarser-grained downwards, with "books" of parallel platey olivine crystals developing sub-perpendicular to the plane of the units. Beneath this zone, which may be up to 1 m thick, there is an abrupt transition to a cumulus-textured rock composed of rounded

Jan 1, 1973

By Y Xie, D Willingham

Predictive maintenance (also known as ‘condition/health monitoring’) refers to the intelligent monitoring of equipment to avoid future failures. In contrast to conventional preventive maintenance, the maintenance schedule is not determined by a prescribed timeline; instead, it is determined by analytic algorithms, such as machine learning, using data collected from equipment sensors and/or via simulation.Predictive maintenance offers the following benefits for operators and equipment manufacturers:- reduces equipment downtime by identifying issues before failure, thereby enabling convenient scheduling of equipment service and extending equipment lifetime- determines the root cause of the failure, enabling appropriate service to be performed without utilising resources to determine a diagnosis- avoids the unnecessary costs of maintenance and unexpected failures- improves safety and product quality.Algorithms and data are critical to predictive maintenance success. Sensor data is first preprocessed using advanced statistical and signal processing techniques; it is then combined with predictive modelling techniques, such as machine learning, to estimate equipment health.Once tested, predictive maintenance algorithms may be used in an operational setting within an IT environment, such as a server or cloud. Alternatively, algorithms may be implemented in an embedded system directly on the equipment, allowing for faster response times and significantly reducing the amount of data sent over the network.CITATION:Willingham, D and Xie, Y, 2017. Predictive maintenance modelling for bearing-based equipment, in Proceedings Iron Ore 2017, pp 627–630 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Jul 24, 2017

By S Williams, N McBride

The aim of these analyses was to utilise the latest available production information for the Wandoo operation to determine the optimal blasting parameters, costing information and predicted results (fragmentation, muckpile shape and vibration). Much of the data used as input was made available from the information gathered during the excavation of the test pits during 1995. As with any æplanning stageÆ analyses, many assumptions were required to fill gaps in the available data. The calibration of computer blasting models was conducted using data from the last of the test pit blasts (this blast was carried out in material that closely resembled rock expected to constitute the bulk of the base case design pit). This calibration was refined using observation and experience based judgements to extend the accuracy of the predictions as far as possible. All the simulations were performed assuming that the blastholes will be wet (as instructed by BGM). This has consequently determined that the appropriate explosive for the simulations and the actual blasting will be a pumped emulsion/ANFO blend. The following blast design parameters were derived by determining a likely range of powder factor (from other similar scale gold mines) with a median value of 0.62 kg/m 3 being the powder factor arrived at through the field optimisation process conducted during the test pit excavation. The total swell/displacement percentage (volume after blast/volume before blast) largely determines the diggability of a well fragmented muckpile. Consequently where fragmentation is good any reduction of total swell will probably reduce diggabilty. Any reduction of diggability can and should be traded off against increased gold recovery. In most gold mines, diggabilty will be substantially compromised at the balance which produces the most profit. When these considerations are combined with the cost to drill and blast material, processing costs and the achievement of æacceptableÆ diggibility, the analysis becomes extremely complex and qualitative. Many trends are evident including:the relationship between powder factor (for each blast design) and maximum forward displacement (throw), see Figure 1; and the relationship between powder factor (for each blast design) and drill and blast cost per BCM, see Figure 2. The following blast designs are matched to each of three ore-tonnage alternatives (as supplied by BGM) (Table 1). They are all based on powder factor of 0.62 kg/BCM and are considered optimum from a mining æpoint of viewÆ. The costing of each design includes drilling, explosives and labour cost to load, stem and tie-in holes. Using the available rock data and relying heavily on the wall exposures in the test pit(s), it is the opinion of the author that between 20 per cent to 40 per cent of the final walls excavated in the Wandoo pit would be likely to have the angle between the dominant foliation and the wall plane that is well suited to presplitting and be cost-effectively served by presplit technique. The drilling cost for 125 mm blasthole is about $11.40 per drilled metre and the cost of 40 mm presplit explosive is about $140 per 25 kg (17 metre) case. This implies that the cost to drill and blast presplit on the above parameters would be about $10.90 per square metre of presplit face. The remaining wall area would be most cost-effectively delineated using modified production blasting techniques. This requires the use of modified parameters such as smaller hole diameters, smaller spacing/ burden, higher powder factor, free face firing, less rows per blast and longer delays. These altered blast parameters would usually be applied uniformly across the entire blast fired adjacent to the wall and this ætrimÆ blast would relieve burden away from the wall, into the pit. In simplest terms, this method relies upon maximised burden relief to minimise blast energy applied to the wall. It is only applicable where the material to be blasted is waste since the throw achieved is inconsistent with ore dilution control. The largest charge weight per hole for these analyses is 360 kg and the nearest domestic structure to the proposed Wandoo pit is about 6100 metres distant. From these parameters and assuming a worst case example of rock controlled site factor, the predicted ground vibration is 0.5 mm/sec that is about five per cent of the lower limit set down in AS 2187 part two (1993). This suggests that for the current location of neighbours, ground vibration will not be an issue for the Wandoo operation.

Jan 1, 1999

By P Minkkinen

"Pierre Gy showed in his early works that the results in estimating the variance of the mean value of continuous lots depends on sampling mode (random, stratified or systematic), except in the theoretical case that the measurand is randomly distributed in the lot. The experimental variance estimate calculated from samples taken from the lot is independent of sampling mode but depends on sample size and the type of the lot heterogeneity. Variography can be used to estimate the variance of the lot mean for different sampling modes.Gy also defined weighting error, which is made if a simple average is calculated from the assays of samples taken from a continuous object (eg from a process stream) where the flow rate varies with time and is correlated with the concentration of the analyte in the stream.The effect on sampling uncertainty of the three sampling modes and their interaction with the following factors in estimating the uncertainty of the mean concentration is studied using simulated lots, and lots having heterogeneity patterns similar to those of real data sets, including the effect of: the type of heterogeneity (random, grading and clustered heterogeneity patterns) increment size and number employing composite sampling weighting error. CITATION:Minkkinen, P, 2017. Dependence of the variance of lot average on the sampling mode and heterogeneity type of the lot, in Proceedings Eighth World Conference on Sampling and Blending, pp 319–330 (The Australasian Institute of Mining and Metallurgy: Melbourne)."

May 9, 2017

By A J. Broome

Since 2003, there has been an unprecedented growth in the demand for engineering, technical and project services in the mineral industries. This demand for services became evident in Australia earlier than many other markets and has since spread globally. This growth has created significant issues for the strategic direction and planning by the service provider. Such strategic questions include:- how fast to grow, how to recruit, train and integrate new staff, what market sectors to service, the selection of targeted customer sectors and managing strategic growth with short term demands and commercial reality. These factors are discussed using in depth experiences and examples that illustrate these strategic approaches. The relevance of this new industry environment to New Zealand services will be highly discussed.

Jan 1, 2007

By A Self, B Robertson

During 2015 and 2016, the authors conducted a number of surveys, workshops and reviews of ventilation and gas management practices in Australian underground coalmines. The study was funded by ACARP with a brief to identify gaps in ventilation and gas management practices for current and future needs, and to prepare a road map for change that would assist in delivering improvements.The study found that despite many examples of leading practice, gas and ventilation management is not afforded the attention and priority that is warranted and that this must be remedied if future operational performance targets are to be achieved and the safety of the industry protected. This paper summarises the findings of the study and presents the recommendations proposed.CITATION:Robertson, B and Self, A, 2017. A review of ventilation and gas management in underground mines, in Proceedings Australian Mine Vent Conference 2017, pp 277–284 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Aug 28, 2017

By P M. Ashley, M T. Costelloe

The Mary Kathleen tailings storage facility (TSF) contains 7.1 Mt of uranium mill tailings. This waste repository was rehabilitated in the mid-1980s using a multibarrier dry cover. At the time of mine closure, it was predicted that acid mine drainage (AMD) generation would not eventuate and that uranium, heavy metals and radionuclides would be adsorbed within the tailings and not seep from the TSF into the environment. This study reports on the environmental status of the TSF. Gamma-ray measurements indicate an intact dry cover of the waste repository. However, seepage (~0.5 L s-1) of acid (pH 5.71), saline (0.31 per cent), high conductivity (8.8 mS cm-1), slightly oxygenated (DO 2.6 mg L-1), radioactive waters occurs from the toe of the tailings dam into the former evaporation ponds and local drainage system. Seepage waters are calcium-magnesium-sulfate rich with elevated Fe, Mn, Ni, U and Zn values. Oxygenation of tailings seepages causes the precipitation of Fe and coprecipitation and adsorption of other metals (Pb, U, Y), metalloids (As), rare earth elements (Ce, La) and radionuclides (U-235, U-238, Th-227). In contrast, Ba, Ni, Sr, Mn, P, S, Ca, Mg, Na and K as well as Ra nuclides (Ra-226 and Ra-228) remain in solution until pH neutralisation and evaporation lead to their precipitation in efflorescences and sulfate-rich evaporative sediments further downstream. Dry capping of Mary Kathleen uranium mill tailings has resulted in physical containment of the wastes. The dry cover shows no signs of erosion and radiation levels are within acceptable limits. However, the flow rate of surface seepage from the TSF occurs at a much higher rate than predicted. Also, the neutralising potential and adsorption capacity of the tailings and underlying aquifer were overestimated at the time of mine closure. AMD has developed mobilising metals, metalloids, rare earth elements, alkalis, radionuclides and sulfate from the waste repository into surface water seepages.

Jan 1, 2003

Removal of Thiocyanate from Solutions by Precipitation

Sep 13, 2010

By D J. Brake

The correct specification and then selection of primary or major fans for an underground mine is a critical decision not only in terms of fan capital and operating costs, but also safety and reliability which usually has a major impact on mine production. In addition, fan manufacturers may spend tens of thousands of dollars preparing proposals for a purchase enquiry for primary fans especially where they have complete responsibility for the installation (turnkey projects). There are many good reasons to thoroughly and fairly adjudicate fan tenders. This paper describes the process to achieve this starting with the initial fan specification through to the final award.CITATION:Brake, D J, 2017. Fan specification and tender adjudication for mine ventilation engineers with particular reference to turnkey projects, in Proceedings Australian Mine Vent Conference 2017, pp 245–252 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Aug 28, 2017

By R Klepper

Separation of leach residue suspended solids from pregnant liquor solution is an important step in hydrometallurgy flowsheets. Alternative flowsheet options are counter-current decantation (CCD) thickeners or counter current washing (CCW) horizontal belt vacuum filters. Extensive sedimentation and vacuum filtration simulations have been completed by FLSmidth on leach discharge slurries to indentify equipment capacity and performance. These data were used to compare Capex and Opex for CCD versus CCW alternatives. In addition, Capex and Opex for large horizontal belt vacuum filters with filtration areas greater than 250m2 are compared to current state of the art sizes of 150m2. This paper presents this information and discusses various advantages and disadvantages.

Aug 8, 2011

By M O. Tade, M W. Sze

The particle dynamics of a mixture of coal and zircon system wasstudied in a scaled-down cold model of an industrial kiln. Thefactors investigated in the study were rotational speed (N),zircon-to-coal feed ratio (B), coal particle size (dpc) and the angle of inclination (*) of the kiln. The technique used is the residence time distribution (RTD) method. It was found that rotational speed and angle of inclination are important parameters that affect the residence time of particles in the kiln. A mathematical model for predicting the mean residence time of particles in the rotary kiln was developed. Comparisons with reported models for such systems are discussed.

Jan 1, 1998

I report results of over 850 microprobe analyses of sulfides, sulfosalts and electrum from the Favona adularia-sericite epithermal deposit of the Waihi district in the southern Hauraki Goldfield of New Zealand. Pyrite and marcasite from altered wall rocks that enclose the veins are stoichiometric, with compositions of FeS2, and no significant trace elements. In contrast, pyrite in veins commonly contains appreciable As (up to 3.2 wt per cent), and locally contains several tenths of a percent of Cu, Zn, Co, Ag and Sb. Vein pyrite may contain up to 0.22 per cent Au, but Au contents do not show a positive correlation with As. Limited electrum data indicate that it ranges from Ag0.47 Au0.53 to Ag0.54Au0.41Cu0.01Zn0.04. Chalcopyrite is stoichiometric CuFeS2, and most galena is PbS, but some galena contains up to 4.4 wt per cent Se, which substitutes for S in its lattice. The galena is not argentiferous; the highest Ag content is 0.45 wt per cent Ag. Sphalerite averages 4 mol per cent FeS, but ranges up to 15 mol per cent. Tetrahedrites [(Cu,Ag)10(Zn,Fe)2(As,Sb)4S13] show variable substitution, but most are Cu- Zn- and Sb-rich. Veins also contain aguilarite (Ag4SeS), stromeyerite (CuAgS), naumannite (Ag2Se), and mckinstryite [(Ag,Cu)2S].

Jan 1, 2004

By S Grant, S Emeric, P Baker, E Jones, D Clark

As we strive for a sustainable and resilient future, repurposing assets has become a top priority. In Australia alone, we have a significant number of mineral projects in the pipeline, extensive existing operations, and over 50 000 legacy sites. Collectively, this presents a unique opportunity to be a world leader in mine rehabilitation. Complex stakeholder landscapes, inflexible policies, aged regulatory frameworks, technical uncertainties and increasing liabilities are all barriers hindering effective transition of legacy assets. The impetus for change is further catalysed by shifting consumer preferences, workforces in flux and regional Australians questioning what the transition means for their local community. We need innovative approaches to take a leading role in the industry and support global efforts more broadly. Co-designing an ambitious, shared vision spanning projects, operations and legacy assets with all key parties is a fundamental step to unlock and realise maximum societal, environmental, economic and reputational value. Serious play and gamification can further enhance this visioning process.

Aug 2, 2023

Investigation of the Effect of N-Substituents on Performance of Thioureas as Special Collectors for Copper Sulfides by ab Initio Calculations

Sep 13, 2010

The use of mining by-products for beneficial use may face approval, and acceptance barriers. This paper described the use of a sustainability framework to assess the safety, effectiveness and economic value of modified bauxite residue (Alkaloam«) for use on agricultural land in the Peel-Harvey region of Western Australia. The results indicate the merit associated with using this by-product from a safety and, private, community and environmental value perspective. They may be used to indicate the worth of pursuing any future community acceptance and agency approval process.   The use of Alkaloam« for beneficial use on agricultural land in Western Australia was first investigated over 25 years ago. Efforts to gain regulatory approval and community acceptance of Alkaloam« have had a complicated and enduring history. Understanding and assessing the value of a by-product using social and economic considerations, in conjunction with an environmental assessment, provided a more complete evaluation to that previously used.

Jun 1, 2010

The Australian mining industry faces skills shortages across a broad spectrum of disciplines and levels, as it enters another major growth phase. Critical amongst the areas of most significant shortage in the professional sphere is the discipline of geotechnical professionals. More mines, deeper mines, ageing workforces are all contributing to this chronic shortage. But the shortage is not just at the operating sites, it is across a range of employment fields including sites, head offices, consultants, researchers and educators. This paper reviews the status of a number of these fields and explores some of the issues being faced. The different roles of a site geotechnical professional and a specialist geotechnical consultant are explored, together with some of the trends in terms of how such people are operating, and the skills they are expected to have to fulfill their job requirements. The paper also considers the move towards possible mandatory statutory geotechnical positions at mine sites and some of the implications if this were to come into force. Finally, the paper considers the current provider programs for mining geotechnical education, and how additional offerings are going to be needed in order to address the current shortages and the inconsistencies in terms of job expectations for people assigned to geotechnical roles without adequate education and training.

Nov 25, 2010