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By A Keogh, P Allen, P Stoker

"An EXTENDED ABSTRACT is available for download. A full-length paper was not prepared for this presentation. Private equity (PE) firms are comparatively free of mandatory requirements for the level and scope of due diligence applied prior to making investment decisions in minerals projects when compared to listed entities, sovereign funds or financial institutions adopting the Equator Principles (Equator Principles Association, 2013). While this freedom allows for flexibility, agility and innovation in making investment decisions, it can also expose PE firms to material risks that may impact their ability to successfully list the projects or attract later financing.Financial institutions and investors with mandatory due diligence and disclosure standards may refrain from investment in or acquisition of a project if it fails to meet various performance requirements. There are many high-profile projects that have suffered significant write-downs on book value after acquisition because specific non-mining issues were not adequately assessed. Thus, a PE firm may be left with an asset that is difficult to divest and incapable of securing development finance.PE firms can manage this risk by being aware of the growth trend in the adoption of ‘international standards’ in addition to host nation standards and legislative requirements. This paper outlines key issues for PE firms to address to maximise the chances of obtaining funding or successfully taking an exploration or mining project through to listing or divestment. Two steps are required: identification of gaps in performance and priority matters of interest to financial institutions and development of action plans to ensure that the priority requirements are met or capable of being met.A PE firm can set its project for success by understanding the social and environmental performance requirements of international standard financiers and by setting the project on the right path to meeting these requirements, and thus making it an attractive investment.CITATION:Allen, P, Stoker, P and Keogh, A, 2015. Setting for success – private equity exploration and mining project buy-in to listing and divestment , in Proceedings PACRIM 2015 Congress, pp 93–100 (The Australasian Institute of Mining and Metallurgy: Melbourne)."

Mar 18, 2015

By G Reynolds, N A. Ware, L Lu

Queensland Pacific Metals (QPM) is progressing its Townsville Energy Chemicals Hub (TECH) project to produce nickel and cobalt sulfates for advanced battery materials. Apart from the nickel and cobalt sulfates, the process also generates a hematite by-product (~640 ktpa). The hematite byproduct precipitated from the process, hereafter ‘hematite precipitate’, is high in Fe and particularly low in impurities. However, it is a fine <20 μm crystalline, hydrometallurgical precipitate and is produced as a filter cake containing a high moisture content of about 15 per cent. This is considerably different from natural hematite ore and is expected to change its performance during sintering. In the present study, laboratory scale sintering tests were undertaken to evaluate the potential impacts of substitution of the hematite precipitate for traditional magnetite concentrates and further for Australian hematite-goethite ores in a simulated industry base blend. Substitution of hematite precipitate for magnetite concentrates was found to slightly increase the sintering temperature required to achieve the strength of laboratory sinters. However, further substitution of hematite precipitate for Australian hematite-goethite ores slightly reduced the sintering temperature required to achieve the laboratory sinter strength. These results reflect the reduction in Al2O3 contents of the blends and are consistent with the trend observed in industry and pilot scale facilities. The reduction in sintering temperature generally correlates to a reduction in fuel rate in the larger scale sintering process. The pore structure of selected laboratory sinters was further examined and discussed in conjunction with sinter strength. The pore structure images highlighted the relative difference between the blends with the most obvious difference being seen at 1290°C which correlates well with the laboratory tumble index (TI). The laboratory sinter samples showed an increase in porosity and irregularity of pore shape, as hematite substitution increased demonstrating the correlation between a more porous structure and a lower TI.

Sep 18, 2023

By Abishev D. N, Balakirev V. F, Davydov G. I

The problem of recovery of cobalt products from poorly oxidised nickel ores (Kempirsaisk deposit) and pyrite concentrates with a low content of cobalt (Sokolovsk-Sarbaisky deposit) has not been solved to the present time in Kazakstan. The balance reserves of nickel ore of the Kempirsaisky deposit make up more than 35 million tons with a nickel content of 1.13 per cent and cobalt content of 0.05 per cent; besides there are 110 millions tons of out-balance ores (Anon, 1995). In a tailing dump of Sokolovsk-Sarbaisk Mining and Productional Association more than 320 million tons of tailings of wet magnetic separation have accumulated, which contain 7.2 per cent of sulphur, 0.022 per cent of cobalt, 0.012 per cent of nickel, 0.094 per cent of copper, 0.079 per cent of zinc, 16.45 per cent of iron, and from which a high quality pyrite concentrate car) he separated through flotation, containing 48 - 50 per cent of sulphur, 44.15 per cent of iron, 0.141 per cent of cobalt, 0.07 per cent of nickel, and 0.10 per cent of copper. The well-known technological flow charts for cobalt and nickel recovery from the tailings of sulphide-magnetite ores dressing (to give pyrite concentrate) and from oxidised nickel ores, are not profitable at the existing prices for metals, but are not worthless and require significant capital investments for the realisation of their value. The flow chart `sulphate roasting - leaching - solution processing&apos; is used widely for combined processing of cobalt-containing pyrite ores and concentrates.

Jan 1, 1996

Banks&apos; focus in using cash flow methods can differ markedly from that of equity investors. This paper attempts to explain and describe bankers&apos; approach by: ò outlining the fundamental difference between banks&apos; and investors&apos; risk / return profiles. ò describing lenders&apos; consequent use of cash flow methods in mineral valuation. areas. explaining lenders&apos; specific treatment of key risk Fundamental to understanding banks&apos; appraisal of mineral projects is the appreciation that lenders have a basically different risk profile and outlook from those familiar to equity investors. Lenders do not normally participate in any project upside. The economics of lending dictate that banks can only accommodate a low probability of loan default and consequently banks&apos; principal focus in mineral ""valuation"" is ensuring an acceptably comfortable probability of debt repayment. A simple conceptual explanation of lenders&apos; risk / return position is outlined.

Jan 1, 1994

By H Bruyn, K Ehrig, V Liebezeit, A Robertson, M Smith, D Grant

"The Olympic Dam geometallurgy program has generated a large quantity of data that has been used to create a geometallurgically enabled block model. An ongoing challenge is to convert data into usable information and embed geometallurgical practices into resource model development and mine planning to assist with the identification of opportunities to maximise value.This paper will discuss the methods used to disseminate geometallurgical information throughout the planning life cycle including data extraction methods from the geometallurgy acQuire database, and the inclusion of a geometallurgy module in the Olympic Dam Stope Reserves database. The use of geometallurgical information in short-, medium- and long-term mine design and scheduling, including its use in grade descriptor development and stope value assessment tools will also be presented. The detail of development of specific geometallurgical models is outside the scope of this paper.At Olympic Dam, the incorporation of geometallurgical capability within the long-term planning team, traditionally the domain of mining engineers, has proved essential in broadening the base of geometallurgical knowledge as well as focusing geometallurgy resources on value-adding areas while providing a holistic risk based long-term plan.CITATION:Liebezeit, V, Ehrig, K, Robertson, A, Grant, D, Smith, M and Bruyn, H, 2016. Embedding Geometallurgy into Mine Planning Practices – Practical Examples at Olympic Dam, in Proceedings The Third AusIMM International Geometallurgy Conference (GeoMet) 2016, pp 135–144 (The Australasian Institute of Mining and Metallurgy: Melbourne)."

Jun 15, 2016

This paper investigates the adequacy of current gas monitoring techniques to adequately detect spontaneous combustion in underground coalmines. Despite being in the 21st century spontaneous combustion continues to occur in underground coalmines sometimes being detected only at a very advanced stage. Control of the incident is often then very expensive and time consuming. The adequacy needs to be assessed not only from the point of view of the analysis technique be it tube bundle, gas chromatograph or real time sensor but also the number, location and sampling frequency of the monitoring locations. Recommendations are made to optimise monitoring processes and recognise limitations of current techniques.

Jan 1, 2005

By D Morgan, D Sato, B Lumsden, S Senanayake

Laboratory flotation tests on fresh cyclone overflow samples are a useful tool to troubleshoot and indeed to improve plant performance; however, reproducibility between laboratory flotation test and plant performance is important for interpretation of the laboratory tests and hence their usefulness. Chemical reproducibility can be achieved with the addition of the required reagents; however, reproducing the physics of forces and energy in a 5 L cell compared to a 50 000 L plant cell or a 500 000 L plant cell is not generally studied or discussed. For some tests such as collector evaluation the physics of the flotation process may not be critical, but for some evaluations in the laboratory, it can be important.All flotation plants suffer from losses of valuable &lt;20 µm mineral. Selective mineral aggregation has long been recommended to improve the poor flotation recovery of &lt;20 µm sulfide minerals; however, successfully testing any type of selective sulfide mineral aggregation’s effect on flotation recovery in the laboratory on practical plant samples requires reproducing plant cell physics. The energy input per litre and the forces in a laboratory cell are vastly different to a plant cell. Reproducibility between laboratory and plant tests requires that these differences be minimised. The physics of the laboratory flotation cell is particularly important when fine mineral aggregation tests are carried out.This paper outlines a modified laboratory aggregation and flotation method that closely reproduces plant performance in a laboratory test.CITATION:Sato, D, Lumsden, B, Senanayake, S and Morgan, D, 2014. Development of a laboratory flotation method to test plant mineral aggregation, in Proceedings 12th AusIMM Mill Operators’ Conference 2014 , pp 173–178 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Sep 1, 2014

By P Cherepanskiy, G Elphick, R Hus, C Perring

When an iron orebody nears its end of life, the extracted material can become increasingly problematic to handle. Higher moisture content occurs as larger portions of originally-below-water-table material is mined, which in some deposits is accompanied by further changes in physical and/or chemical properties present along the edges of the orebody. Plant delays related to problematic material have affected all of BHP’s mining hubs to various degrees. Following the recent successful work in Yandi, where the development of an index to quantify the handleability of channel iron ore deposits resulted in an increase in extracted volumes and an extension to the expected life-of-mine, the value of implementing similar indices for bedrock iron ore deposits has been recognised. A materials handling index has been developed by combining observed empirical relationships between material properties and processing plant performance. Indices for each deposit were further refined and optimised by implementing a back-testing strategy which facilitated an understanding of what weighting or scaling each of the contributing components should carry to yield the highest success rate of predicting actual delays at a given plant. Currently materials handling indices are deployed to all mine sites and are made available in block models as well as calculated for individual blasthole and production samples. Values in block models are obtained by predicting the required properties using machine learning models, whereas hyperspectral data is used to ‘measure’ some of those properties on a sample level. This paper discusses the work that has been undertaken to obtain materials handling indices, the testing that has been done to optimise them, and what processes have been developed to ensure the best metrics are being used in the different planning and scheduling horizons to optimise extraction.

Jun 22, 2022

By P Ramsaywok

The use of saline water for mineral beneficiation in arid regions is general practice and also the case with Exxaro Namakwa Sands, situated on the west coast of South Africa. Although it is ‘cost effective’ to use sea water for mineral beneficiation, downstream process separation efficiencies may be negatively affected. This is more specific to surface dependent separation techniques such as electrostatic and high tension (HT) separation. If minimal fresh water is available then, proper washing is often neglected. Salt crystals can form on particle surfaces during the drying process before electrostatic separation.This paper describes a study that has been conducted to determine the effect of upfront salt water processing on downstream electrostatic/HT separation. The study indicated that minor quantities of salt can cause the separation efficiency to decrease substantially.

Oct 5, 2011

Bolivia, due to its turbulent past with a history of constant military coups, has given an image of complete instability to the foreign investor. The effects of this have been several fold, the major one resulting in a complete lack of exploration in modern terms since their revolution in 1952. What was overlooked by the foreign investor was the fact that revolution produced Agrarian Reform which is the foundation of the stability which Bolivia enjoys today. Another factor that is overlooked is the fact that its past history is one of vast mining fortunes having being made. Their political problems resulted in economic chaos in 1985 with an annual inflation rate of 26,000 percent. This resulted in the collapse of the government but the democratic process continued. Then came the so-called"South American Miracle" in 1986 when the government of Dr. Paz Estenssoro enacted an extremely harsh austerity program which consisted of the abolition of wage and price controls, the abolition of monopolies, the right to hire and fire, the weekly auctions of dollars and the free convertibility of currency which yielded a stable government with 8 percent inflation. This was followed by massive personnel reductions in the various mines and other industries.

Jan 1, 1991

By J Greberg

This paper discusses the use of simulation in the mine planning process. A case study on the Newcrest Cadia East project is presented, and the challenges and possibilities for using simulation as a tool for mine planning and scheduling is discussed.The simulation study presented in this paper was performed during the project’s prefeasibility stage, and focused on the planning and scheduling of the development of panels in the future mine. The Cadia East project will be the largest underground operation in Australia and the first using panel caving. Simulation was used in order to optimise the development of panels; it was mainly used in order to verify the plans for the development process and allocate resources in an optimal way. The work was performed as an iterative process and adjustments to the plans were made according to simulation results. Bottlenecks were identified and different scenarios were tested.The results from the simulation study shows how different operational constraints affect the planned development process and how changes in priorities can be necessary in order to maintain a high development speed. Furthermore the study shows how changes in planned mine layout requires changed strategies, and how this was solved using the simulation tool.In this paper the authors critically discusses the use of simulation in mining operations: what are the limitations and challenges of using simulation as a tool for mine planning and scheduling, what are the benefits, and what do we aim for in the future?

Nov 22, 2011

With the next mining boom looming, the industry will once again struggle to meet skills needed as the current generation boomers are set to retire. In order to meet these needs it is going to need to focus on what underutilised human resources - in particular women - want! &nbsp; Women comprise around 14 per cent of the mining workforce, compared with a 45 per cent participation rate in the work force overall. Within the industry, women still make up only one per cent of trades people, eight per cent of operators/production employees, 12 per cent of engineers and 11 per cent of executive management. &nbsp; It may be worth pointing out that mining has an age profile skewed towards the older end of the spectrum. When it comes to employee retention, what women want may be a good starting point to examine, more broadly, what all employees might want (but are too afraid to ask!). &nbsp; Women in mining want the following: To be scrutinised for their work and performance, not their personal lives, appearance or relationships. True pay equity. This is addressed at lower levels between companies but at professional levels the salary differentials begin to appear and little is done to identify why this continues to be the case. Recognition and acceptance that women can have different work-styles, and that diversity of work-styles is an asset to be nurtured not a threat to be neutralised! Recognition that a more diverse workforce demographic that better reflects society at large will assist the company in its dealings with many diverse stakeholders from society at large. For employers to recognise that a career break to accommodate caring responsibilities does not mean that an employee&apos;s commitment to progressing their career is any less than that of someone who has not taken a career break. Similarly, for employers to recognise that working part-time for to accommodate caring responsibilities does not mean that an employee&apos;s commitment to progressing their career is any less than someone who works a more traditional roster. Access to affordable and quality child care compatible with mining rosters in mining towns. Zero tolerance for bullying and harassment, and workplace cultures that promote respect and safety. This is an ABSTRACT ONLY no paper was prepared for this presentation.

Jun 1, 2010

By M Pernechele, U König

Most of the operating steelmaking capacity currently relies on conventional, coal-based steelmaking processes. Currently, direct reduced iron (DRI) is only produced in regions where energy is available at low cost. To align with net-zero emissions goals, steelmaking capacity must transition to loweremissions steelmaking technology. Direct reduction of iron ore will get one of the preferred methods in the future due to its high technology readiness. New reduction technologies include hydrogenbased direct reduction processes. To ensure optimal efficiency during DRI production and to cope with newly developed technologies, processes need to be monitored more frequently and accurate. Traditionally quality control of raw materials and DRI has relied on time consuming physical testing, wet chemistry or the analysis of the elemental composition. The mineralogy of DRI that defines its properties is not frequently monitored. Process monitoring and quality control of DRI is possible by using modern X-ray diffraction (XRD) methods. In addition to the metallic iron content (Femet), metallisation (Metn) and the total carbon content (Ctot), XRD analysis also identifies the overall mineralogical phase composition. This allows additional information about the reduction process and enables fast counteractions on changing raw material mixtures. The benefits of the quantitative determination of the phase composition and the calculation of process critical parameters to produce DRI will be demonstrated with a case study

Sep 18, 2023

By A Karrech, G M. Hassan, A Varghese, E Lessing, S Martins

Pumps play a critical role in mining operations, and their energy consumption and environmental impact are significant. This paper addresses the need for a holistic approach to sustainable pump deployment by expanding on previous work presented at IMPC Asia Pacific 2022 and World Mining Congress 2023. The research takes a significant step forward by outlining a structured approach to estimate and demonstrate sustainability tailored for operational slurry pumps. It details the calculation methodologies used to quantify the carbon dioxide emissions from electricity, wear materials and transport, as well as sealing water usage. To enhance practicality and usability, a simplified visual representation—called sustainability metrics—has been developed to monitor overall efficiency. The sustainability metrics consist of the availability, pump efficiency, and water utilisation efficiency. The proposed methodology is integrated with Pumps Condition Monitoring Service to maximise benefits. Three case studies, from iron ore, copper, and nickel operations globally, were employed to evaluate the proposed methodology. The findings demonstrate the critical role of sustainability calculations in understanding pumps operation. These calculations improve awareness of the pump’s role in the sustainability journey and enable effective monitoring. The studies highlight that continuous monitoring paired with effective prescriptive maintenance strategy can significantly reduce power and water consumption while maximising pump availability. The case studies also reveal significant shortcomings in current operational practices and non-optimal maintenance regimes, emphasising the need for practical recommendations to maximise savings and optimise pump performance. In the context of increasing climate change awareness and the imperative for global decarbonisation, this research highlights the necessity of critically assessing methods and operations to drive sustainability in the mining industry. By adopting a holistic approach to sustainable pump deployment, mining operations can effectively reduce their environmental impact while enhancing operational efficiency and economic viability. The proposed methodology and case studies provide valuable insights and practical recommendations for mining companies seeking to achieve sustainable practices and contribute to a decarbonised future.

Sep 1, 2024

By Stevenson BG

The relevance of ore-dressing mineralogical investigations to developing and improving metallurgical flow-sheets is discussed and examples are given of the application of such studies to various types of ores and mill products (Au, Cu-Sn, Ni and Sn). The mineralogical investigations described illustrate (a) assessment of the feasibility of ore pre-concentration by heavy-media cyclone separation, (b) evaluation of the potential applicability of various metallurgical treatment processes to an ore, and (c) characterization of mill products to assess circuit efficiency and to guide circuit modifications.

Jan 1, 1978

By K Hortin

Kidd Creek mine in north western Ontario is developing phase 1 of the deep mine project for mining between 2100 m and 3100 m below surface. Heat problems were experienced during the 2003 summer in working places about 2300 m below surface. At the time the mine had a æcold stopeÆ for cooling the air supplied to the mine below 1500 m from surface. The æcold stopeÆ is where during winter, ice is created in both the open pit and its connecting airways to the mine and used to cool air in summer. The operation and limitations of the existing cold stope were evaluated and led to the requirement for additional mechanical cooling to be available for the summer of 2004. The first stage of a surface refrigeration plant providing 7.5 MWR of cooling was approved, the compressor set was ordered in early January 2004 and the plant commissioned six months later in early July 2004. Based on the current modifications to the mining plan, further plant expansions are required in 2006 and 2009 leading to a total of 19 MWR of mechanical refrigeration and 8.5 MWR equivalent from the extended cold stope. The refrigeration system is described with emphasis on the specific adaptations necessary to suit Canadian conditions. Additional investigations were; using the refrigeration compressors in winter for heating and, extending the performance of either cold stopes or alternative ice storage systems. The winter use of refrigeration involve removing heat from the mine exhaust air to provide a cooling load and to use the hot water in the condensing circuit to heat the intake air and reduce reliance on mine air heating with natural gas. This paper follows on from an earlier one presented at the Seventh International Mine Ventilation Congress where the background and planning of the mine ventilation and cooling requirements were described for extending the mine at depth to 3100 m.

Jan 1, 2005

By R Urie

Dilution and loss of ore during the mining process invariably occur in all underground mining operations. This dilution and ore loss can have a significant effect on the performance and value generated from a mining operation. Further, excessive dilution or greater than anticipated ore loss during mining is often one of the key reasons for the underperformance of a mining project when compared to a feasibility study or annual budget. Mining professionals often go to great lengths preparing detailed mine plans, schedules and economic models only to then apply high-level estimates or rule of thumb values for dilution and mining recovery that can ultimately lead to inaccurate forecasts for the performance of a mine with the resultant loss of value due to the mining of uneconomic material or the loss of potentially valuable ore. This paper discusses processes and practices that can be practically used to manage dilution and mining recovery in an underground mining operation with a focus on understanding and then maximising value. The processes cover items such as the definition and measurement of dilution and mining recovery, techniques for the estimation of dilution and mining recovery, consideration of the economic implications, management of dilution and mining recovery through the stages of the planning cycle, and practices to reduce dilution and improve mining recovery. Common misconceptions and omissions are also discussed.

Mar 29, 2023

The Australian coal industry has undergone sevenfold growth over the last 30 years and since 1985 has been the world&apos;s largest coal exporter. Three quarters of Australia&apos;s coal production is exported so its future is dependent on it remaining internationally competitive with other energy sources and other coal exporting countries. Coal is likely to increase its share of the energy market during the nine- ties as oil prices increase, new coal-fired capacity is commissioned and some form of nuclear energy is developed which is of acceptable safety standards to the community for use in the 21st century. Gas may take a part of coal&apos;s anticipated market share by the Year 2000. While coal exports will increase from China, Colombia, Indonesia and Venezuela and satisfy some of this additional coal demand Australia will also expand its export production, due to its existing advantages. The United States, Canada, South Africa, Poland and USSR seem unlikely to enjoy the same degrees of expansion and some, particularly Poland and USSR, will decline. Australia will always find it difficult to compete in the more distant markets due to levels of ocean freight, although its high quality coals will tend to partly offset such disadvantage.

Jan 1, 1988

By Brockway DJ, Holmes RJ

A natural gamma-ray gauge has been devel- oped for discriminating overburden and inter- seam sediment from low ash coal located on a moving conveyor belt. It is based on the difference in natural radioactivity of the sediment and overburden compared with the low ash coal, which is detected with a highly ef- ficient "Polyscin" NaI(T1) gamma-ray detector located underneath the conveyor. Gauges have been successfully installed on the bucket wheel boom of the two coal dredgers at the Loy Yang Open Cut. They are used to warn dredger operators that they are digging overburden or sediment and that action is required to avoid the sediment or divert it to the waste dump rather than send it to the coal bunkers at the power station.

Jan 1, 1987

By S Harrison

Work health and safety duties around Australia include duties to manage psychosocial health and safety (mental health) of workers engaged by businesses or undertakings and of other persons impacted by the operations of the business or undertaking. Persons conducting a businesses or undertakings must develop systems of work and policies and procedures for ensuring, so far as is reasonably practicable, the safety and health of workers and other persons. Officers have a duty to exercise due diligence and to ensure effective systems are developed, implemented and resourced. The developed systems will only be effective with worker’s co-operation and engagement. The duties placed on workers by work health and safety laws are an important part of the safety matrix of obligations. Supervisors and Leaders are workers and they play a critical role in delivering health and safety outcomes. To deliver these health and safety outcomes with respect to psychosocial safety Supervisors and Leaders need to understand their obligations and have a framework to use to assist them in understanding what workers require and what steps need to be taken to meet their duties. They also need to take steps to assist those workers that they supervise to meet their duties.

Apr 16, 2024