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This paper explains why the valuation of mining assets is often a very different exercise from the valuation of the shares in the mining company which owns those assets. The fundamental reason for this is that mining assets, and the shares of the company which owns those assets have different risks. In order to properly value mining securities it is essential to: ò ensure all the different risks and other factors which impact on the value of the mining assets and the value of the shares are taken into account; and determine the extent to which the different risks and other factors are addressed in the value of the mining assets and the value of the shares so as to avoid double counting or not counting at all. If the alternative, but far from consensus, view is accepted that the correct valuation methodology to apply to shares in mining companies should be based on option pricing theory then conventional valuation practice of both mining assets and shares in mining companies will need to be fundamentally reassessed.

Jan 1, 1994

By Jiricek F

Legislative change has reformed the licensing process in Victoria. The Mineral Resources Development Act 1990 and the two stage system of licensing with the authority to commence work is discussed. A key part is the requirements of planning consent, being either an Environmental Effects Statement or the issue of a Planning Permit prior to the issue of an authority to commence work for mineral extraction. Examples of recent experience is discussed.

Jan 1, 1997

By Wadsley MW

The Greenhouse Effect, with its potential for global warming, is strongly linked to industrial carbon dioxide emissions. Global carbon mass balances indicate that absorption in sea water is the major natural sink of carbon dioxide. However the surface waters of the oceans are close to chemical equilibrium with the atmosphere with respect to carbon dioxide, while the deep ocean waters are not. Consequently, the transfer of carbon dioxide from the surface limits the rate at which the oceans can absorb carbon dioxide. It is proposed that direct transfer of carbon dioxide from industrial installations to deep ocean waters be evaluated as an interim measure to slow the rate of increase of carbon dioxide concentration in the atmosphere and hence allow time for the development of sustainable industrial practices. As an aid to thinking on the development of suitable technology, equilibrium calculations are presented which demonstrate that sea water in equilibrium with flue gases will dissolve six times the quantity of carbon dioxide that is dissolved in equilibrium with the ambient atmosphere. Sea water saturated with calcium carbonate and in equilibrium with flue gases will dissolve 20 times the quantity of carbon dioxide that is dissolved in equilibrium with the ambient atmosphere. However the absolute concentrations of dissolved carbon dioxide are still very small.

Jan 1, 1989

By R Farana

The future challenges in mining instrumentation, mainly on future intelligent mines, are to continue providing instruments with the highest level of reliability at the lowest possible cost, and also to take advantage of technology existing in other industries and to adapt it to the mining context. New wireless instruments (smart sensors, smart actuators, smart controllers) would also be very useful, as well as instruments fully adapted to the monitoring of large movements that are observed, in both underground and open pit mines. Mining instrumentation is found to various degrees in most mines, both open pit and underground. Smart mining instruments present a certain number of aspects specific to the environment in which the instruments are installed. Namely, the instruments can be installed either for short-term or long-term purposes. The mining industry is always looking for useful instruments that can provide relevant information on ground behaviour adjacent to mining stopes or permanent infrastructure. The instruments must meet the various criteria, and must also evolve with the new mining technologies that are continuously being implemented. A strong collaboration between the mining industry, research organisations, and instrument manufacturers is the key to meeting these objectives. This contribution describes the current trends on smart sensors and smart instrumentation with Wireless LAN support.

Jan 1, 2003

The Telfer Gold Mine, owned and operated by Newcrest Mining and located in Western Australia, is currently being expanded. A new underground sublevel cave development is proposed along with an appreciable expansion of the open pit. The Telfer area is generally subject to low rainfall, however, during the wet season cyclonic events can result in sizable rain events, which have the potential to cause substantial inflow. In addition to this, during the first five years (nominal) of the mineÆs life, there is the potential for drainage paths between the pit and the underground mine via decommissioned underground workings which lie directly under the pit. After this initial five year period the pit floor will be mined out below the old workings and will therefore no longer connect to the underground, however cave breakthrough to the surface may start to occur thus providing another water path into the underground mine. To arrive at an optimum, safe solution for dewatering the mine that successfully addressed the above items, a rigorous risk analysis was included as an integral part of the design process. This involved the determination of the probability of events occurring and the consequences of these occurrences. This was compared against the cost of mitigation for the various events. This paper outlines the process by which a safe concept addressing all the issues relating to dewatering the proposed mine has been arrived at. This process included: Establishing the pit catchment areas. These were based on historical run-off data and took into account practical mitigation works. Establishing an Average Recurrence Interval (ARI) based on reference material and historical rainfall data. Utilising a standard approach based on Australian Rainfall and Run-off (ARR) to calculate pumping and storage requirements for the various catchments. Analysing the 20 years of recorded rainfall in the Telfer area to establish the duration, magnitude and sequence of events. This analysis assisted in determining the surface run-off coefficient. Establishing potential water storage areas and determining the risks associated with using particular storage options. Establishing the percolation rate through the cave zone. A degree of uncertainty regarding the percolation rate in the cave zone required that the consequences of using various percolation rates were considered to aid in establishing the rate which was adopted. Establishing preliminary concepts and determining the most economically viable concept. Conducting a risk assessment based on the principles outlined by Australian Rainfall and Run-off (ARR) to confirm that the appropriate Average Recurrence Interval (ARI) had been selected. A risk assessment was also conducted in accordance with client requirements. Establishing the optimum pump station sizes and storage capacities. Establishing the appropriate numbers of duty and standby equipment. By using the foregoing process, which included a number of stages of risk analyses, an optimum dewatering system concept was produced.

Jan 1, 2003

In the pursuit of commercial solutions for environmental issues, individual problems are often identified, considered and resolved in isolation from other environmental matters and always at the end of the cycle û after the problem has been created. Inter-relationships are neglected if they are not seen to obviously impact on a specific problem and the issue at hand is plucked from the environmental landscape and dealt with in total isolation to all else. In a Zero Waste approach to environmental matters, all outputs are pursued as potential inputs. Industrial processes are viewed as a variation on natureÆs theme and opportunity pursued above all else. When viewed from this perspective, industry appears to have forgotten its origins. It has forgotten that it is principally about people. The juggernaut of global trade has forgotten that it is a small part of a big landscape and that its principal participants, people, cannot exist without healthy soil. Commercial activity in all parts of the world relies heavily on the ability of agriculture to produce the necessary inputs for industrial production. The care and nurturing of our soils is fundamental, not only to the survival of humanity, but also to the economic systems that support that humanity and to the industry which profits by it. Actual levels of domestic recycling in many countries around the world seldom reflect the 90 plus per cent desire to recycle recorded in surveys conducted by local authorities in almost every country. If the desire to recycle is far removed from the end result, why is it that the systems provided are so ineffective? It is obvious that what we do need is a recycling system that both engages and rewards the participant and stimulates the innate desire to support the environment. A recent trial in New South Wales, Australia, demonstrated that by giving individual households credits for recycling organic wastes, not only will contamination levels fall dramatically, but increased yields, improved soil structure, improved land values, reduced fertiliser costs and increased water use efficiency give the farmer good economic reasons for purchasing and applying quality composted product. By underpinning and securing the agricultural community, we secure the future of industry. The æCity to SoilÆ project linked the economic on-farm benefits of compost use with reduced contamination through the provision of rewards paid for by the purchase of product by the farmer.

Jan 1, 2006

By R Burgess-Limerick, J Haight

A review of mining automation experiences was undertaken on behalf of the National Institute for Occupational Safety and Health (NIOSH). The research included a review of literature and guidance materials; analysis of automation related incidents and visits to surface and underground mines in Australia, Brazil, Chile, South Africa, Sweden and the USA.

Apr 16, 2024

The arbitration process, and its drawbacks: Any time you have taken part in a major arbitration, and the decision, when it comes out, is not what you thought it would be (which is bound to happen occasionally), the normal reaction is something like æthe arbitrator got it wrongÆ. Again normally, when you have cooled down a bit, and you look in more detail at the decision, you can see, probably, æwhere he got it wrongÆ (it is only male arbitrators who get it wrong). Ultimately, when reason prevails, and you reflect on it, you can see that what really happened was that you failed to get the arbitrator to see what you were getting at in the point or points concerned. This is doubly frustrating, when you consider what has been involved in getting to this point, having been through it all at least twice. An alternative to this process may be the dispute review board.

Jan 1, 1999

By C Berglin

Is the Northern Territory different? Certainly it is more remote, has less people and relies more heavily on two or three industries for its survival. On the other hand, its mining industry is governed by Acts not dissimilar to those of the major States - a Mining Act provides the basis for acquisition of tenure, a Mine Management Act provides regulatory control, a Mineral Royally Act collects revenue in return for the right to utilise the land's bounties, an Environmental Assessment Act provides the public face to rehabilitation and environmental safety, and the Aboriginal Land Rights (NT) Act purports to give development criteria for inalienable land use. With the exception of the latter, at least until the advent of Mabo, all these are simply variations on a theme, and are common to most States. This paper will show how the Department of Mines and Energy works in relation to the Northern Territory mining industry.

Jan 1, 1994

By D McLaughlin

This paper points to the timely importance of commencing a centrally recognised perpetual collection of mineral specimens in the Northern Territory which has as one of its objectives the collection and preservation of Northern Territory minerals of scientific, educational and heritage value. Currently in the Northern Territory there is no government department or institution that has a resourced coordinated state-wide objective to collect and document collectable mineral specimens. Specimens held in storage by the Department of Mines and Energy and the Museum and Art Galleries of the NT are not catalogued and owe their existence to fortuitous circumstances, not as a result of a planned systematic scientific approach to mineralogy. Northern Territory mineral species and unique specimens have and will continue to be driven to extinction while no central and active, recognised repository exists. This situation persists despite the fact mineral production is the Territory's largest income earner. The paper presents the arguments that hopefully will assist decision-makers to commence development of a state mineral collection lodged within an appropriate institution in the Northern Territory.

Jan 1, 1994

Mechanical and electrical (M&E) systems in road tunnels are constrained by the traffic envelope and the construction profile. Whilst these spatial constraints are often ælocked inÆ early in the design process, the detailed M&E design continues for some considerable time after key civil engineering issues have been resolved. Ventilation design criteria for both normal and emergency operation often involves considerable negotiation with a wide range of stakeholders. Final system performance and spatial requirements are only finally resolved when suppliers are selected following the tender process. Lighting design is dependent upon a wide range of factors including tunnel lining materials and associated colours as well as agreed maintenance regimes. Cabling systems can only be developed when the general arrangement for power distribution is agreed and a system of substation, switchrooms and equipment rooms is in place. Many other systems such as fire protection and communications facilities fill the available space beyond the traffic envelope, where physical, structural and æsight lineÆ requirements must all be accommodated. The more co-ordinated civil engineering and M&E design is and the earlier the process starts the better the outcomes for all parties.

Jan 1, 1999

Jan 1, 2004

This paper describes some research attempts to isolate factors associated with lost time accidents and attitudes to safety. Some results of these investigations are presented and their implications discussed. Proposed future research is outlined. Error analysis and the importance of organisational variables are briefly mentioned.

Jan 1, 1975

In April, 1990 the Sydney Water Board invited bids for the construction of the Hazelbrook Carrier Section 3 being part of the Blue Mountains Sewerage Transfer Scheme. In December 1990 the contract was awarded to Costain Resources Limited, Mining Services Division for the sum of $A15.3 M. The works consisted of excavation of 9 520 linear metres of tunnel, 3.35 metres diameter with installation of permanent ground support in the form of rockbolts, mesh, steel sets, shotcrete and in situ concrete

Jan 1, 1993

By J W. Harris

There are numerous detrital diamond deposits worldwide with uncertain or disputed links to known primary kimberlite/lamproite sources. In this study, we utilise 40Ar/39Ar dating of clinopyroxene inclusions in diamonds as a provenance tool applied to the mega-placer deposits along the West Coast of southern Africa. These data demonstrate that most West Coast diamonds originated known Cretaceous kimberlites on the Kaapvaal craton with negligible input from proximal Permian glacial deposits. An EXTENDED ABSTRACT is available for download. A full-length paper was not prepared for this presentation.

Jan 1, 2008

By Graham M

Longwall mining has been the dominant global coal mining method for decades. However, not until 1994 did longwall mining surpass continuous miner room and pillar extraction tonnage in the United States. This significant event, occurring in the most cost driven market in the world, confirms the efficiency and effectiveness of longwall mining.

Jan 1, 1998

By Shihui L, Lianfu Z, Llanming J

The paper considers the essence of the multi-objective decision-making issues for selecting an optimal mining plan, and analyses the advantages and disadvantages of the multi-objective decision-making techniques commonly used for selecting an optimal mining plan. It presents the principle and practice of using a group-AHD with mixed factors to select an optimal plan.

Jan 1, 1995

The Australasian Institute of Mining and Metallurgy and the Australian Mining Industry Council are concerned that a sufficient number of able young people receive an adequate level of professional training for the mineral industry. A Joint Committee on Education has been formed to pursue these objectives. At a time of strong growth in the industry it is most important to forecast the demand for people, so that the educational authorities will be able to provide adequate facilities. The factors to be considered in fore- casting the demand for professional staff are set out, and the proposed method of assessment is outlined.

Jan 1, 1981

Offshore petroleum development involves massive capital expenditure and financing demands, with the main participants being large international oil companies and State owned enterprises. Types of project oriented financing include take-or-pay contracts, throughput agreements, and production payment financing. The main project finance credit aspects are revenues, investment budgets and cost over- runs, reservoir, political and other risks and special problems such as weather and corrosion in the North Sea. A variety of documents is required and a mix of equity, export credit and Euro-market financing will typically be included in the financing.

Jan 1, 1983

By Fuerstenau MC

Zinc cementation and carbon adsorption are both presently used for precious metals recovery from cyanide leach solutions. Each of these techniques exhibits unique processing features which renders them suitable to treat solutions with different properties and in different applications. In this study, the two processes are reviewed and compared. Operating data from a number of Merrill-Crowe precipitation and carbon adsorption plants in North America have been obtained and used in this analysis. The relative capital and operating costs for the two processes have also been considered.

Jan 1, 1993