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Portfolio management tends to separate the functions of Asset Allocation and Stock Selection, so the person responsible for reviewing an expert's report on a company would typically be choosing between companies rather than between a company and cash or bonds. How these choices are made depends on the investment time horizon, philosophy and style. Two styles, momentum investing and value investing are contrasted and the role of valuation methods within the framework of each style is evaluated. Finally, pricing is distinguished from valuation.

Jan 1, 1994

By Morrell S

As more and more autogenous and semi-autogenous mills are run in closed circuit with cyclones the limitations that can be imposed by poor grate and pulp lifter design are becoming increasingly apparent. Relevant literature on the subject is al

Jan 1, 1997

By Bassett N

The Eneabba deposit, located 280 km north of Perth, Western Australia, and 30 km inland (Fig. 1) is one of the most recently developed deposits of mineral sands in the world. The area has been in production since 1974, while the Associated Minerals Consolidated Limited (AMA) operation commenced production in 1976. Total ore reserves of close to 400 million tonnes contain about 40 million tonnes of heavy minerals (proved and probable).

Jan 1, 1979

By Diessel C. F K, Ng N

The commonly used Stopes-Heerlen coal petrographic classification and nomenclature has over the years been subject to variable interpretations. This paper discusses the problem with specific reference to the inertinite maceral group. The effect of various interpretations of the Stopes-Heerlen system on maceral analysis is discussed and illustrated by means of comparative analyses conducted by a number of laboratories in Australia. An attempt is made to define the reflectance thresholds used by the authors to subdivide the inertinite group; the genetic and technological significance of these thresholds are compared. The difficulties of distinguishing structured and non-structured macerals of the inertinite group is discussed in terms of possible improvements to the present Stopes-Heerlen system by extending the classification to include transitional maceral types.

Jan 1, 1969

By P Holt, M Allen

On the first of July, 2012, the Australian GovernmentÆs Clean Energy Act commenced. From this point, a price of $23/t of CO2-e will apply to facilities that trip the liability threshold. This first part of this paper concentrates on the mechanics of the Clean Energy Future legislation and how it will be applied to the mining and mineral processing industry.The second part of this paper contains analysis of the data presented for typical mine operations. Methodologies for constructing a carbon strategy are also presented. This will entail determining what the objectives of the carbon strategy are, and defining what the strategic priorities for a business should be. An action plan to address the risks identified from the Clean Energy Act is also developed as part of the strategy.Details such as the advantages and disadvantages of opting into the carbon price scheme for liquid fuels are shown. Other considerations such as the ability to acquire permits through the carbon farming initiative or through overseas clean development mechanism projects are explained.CITATION:Allen, M and Holt, P, 2012. Implications of the carbon price and developing a carbon strategy, in Proceedings International Mine Management 2012, pp 105-114 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Nov 20, 2012

By S Pradhan, A Kuras, R Mahajan

This paper describes the design of the precast concrete segmental lining for the 13.1 m internal diameter and 450 mm thick, 2.4 km long mainline tunnels for the Waterview Connection project in Auckland for the New Zealand Transport Agency.The design and detailing of this segmental lining presented some noteworthy challenges, including an alignment that has sections of low cover in soft ground. Key points of interest are that this precast segmental lining is the largest to ever include steel fibres as the primary method of reinforcement and the lining includes cams on circumferential joints to control ring deformation.The paper describes some of the key design decisions that were made in a collaborative manner with the construction team, tunnel boring machine manufacturer, segment manufacturer and the designers.CITATION:Mahajan, R, Kuras, A and Pradhan, S, 2014. Design of segmental lining for Waterview Project, Auckland, New?Zealand, in Proceedings 15th Australasian Tunnelling Conference 2014 , pp 289–294 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Sep 17, 2014

By S Love, M Anderson, M Boland

"The high rate of failure of new mine developments to meet feasibility study expectations has been the subject of many fine technical papers. Yet failure rates remain stubbornly high.Similarly, the common occurrence of disastrous acquisitions resulting from failed due diligence on projects is well known. Yet such mistakes continue to be made.The authors argue that project and due diligence failure are caused at least partly by cognitive biases. These biases pervade decision-making throughout project evaluations.A wider understanding of these biases (and their effects) is necessary. Only then can mitigating actions be taken.The opportunity for this wider understanding exists. A number of best-selling books have been published on the topic in recent years. With wider understanding of key concepts and terms, cognitive biases can be recognised and discussed. They can also be challenged and mitigated.The authors believe that these concepts should be entry-level, required knowledge for anyone evaluating, developing, reviewing or financing mining projects.Perhaps the most prevalent biases in project evaluation failure are the ‘over-optimism’ biases. In particular, the planning fallacy and confirmation bias.The anchoring effect is also pervasive. This bias propagates unrealistic assumptions from scoping and prefeasibility studies through to so-called definitive feasibility studies. Unrecognised anchoring biases also undermine the validity of many ‘independent’ due diligence reviews. They are also prevalent in corporate acquisitions.The availability heuristic refers to a mental shortcut that can lead to a number of biases. One of these is the narrative fallacy. The mind constructs coherent narratives and opinions, regardless of the amount and quality of the information that support them. Narrative fallacy commonly occurs in the evaluation of social and political risk. Another is disaster neglect, which is especially common in the failure to assess risks associated with tailings management.This paper outlines the relevance of these biases to mine project evaluations. It also provides examples where the authors have observed their effects.CITATION:Love, S, Boland, M and Anderson, M, 2016. Influence of cognitive biases on project evaluation, in Proceedings Project Evaluation 2016, pp 226–235 (The Australasian Institute of Mining and Metallurgy: Melbourne)."

Mar 8, 2016

By W Ward, J Clegg, R Barnes, T Zhong

This paper provides an overview of methods for measuring tunnel deflection and construction’s effects on the surrounding environment during and post construction. It will also review illustrative case studies from within Australia and overseas that are most relevant to local construction conditions. Systems illustrated include; vibrating wire and fibre optic strain gauges, extensometers, load cells and piezometers. A novel system using radar interferometry which requires no contact to the structure will also be investigated.In Australia, the majority of tunnelling activity occurs in urban areas (or in the case of mining in rural area) with limited seismic risk. However, the unexpected movement of tunnels is an important factor for structural engineers to monitor. During construction, monitoring is focused on the performance of the tunnelling lining, the supports under real conditions and the effects on surrounding infrastructure. After construction, monitoring will determine the effect of live traffic loads and can also evaluate the durability and any degradation of the tunnel. The aging of some tunnels or the forces subjected by nearby major construction can directly lead to a decrease in structural stability and deformation.The conventional way of inspecting and monitoring those tunnel movements is to have engineers physically enter the tunnel and carry out the measurement work. Manual techniques include tunnel wall convergence checks or total station measurement. However the associated costs are high and measurement process is difficult as some tunnel areas are inaccessible and the data collection interval is limited by the speed of the operator.Automated sensor networks utilising extensometers, fibre optics sensors or strain gauges can be used on tunnel segments or surrounding buildings. Ground settlement measurement via boreholes or hydraulic monitoring points and remote measurement of dynamic deflection can be taken using microwave interferometry.CITATION:Ward, W, Barnes, R, Zhong, T and Clegg, J, 2014. Sensors and systems for the measurement of tunnel movements during and after construction, in Proceedings 15th Australasian Tunnelling Conference 2014 , pp 209–218 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Sep 17, 2014

By Montini A

The dynamic behaviour of the load in a pilot-scale ball mill has been measured as a function of axial position within the mill, end plate lifter design, load volume J (percent of mill volume), percent solids in the slurry S and mill speed N (percent of critical speed). Conductivity probes were inserted through the shell of the mill to provide online measurements of the dynamic orientation of the load in the mill. It was found that 1. the height of the shoulder of the load is increased by increasing J, S or N. 2. Measurements of the effect of S on the location of the shoulder of the load should be very useful in mill control strategies. 3. The axial centre of gravity of the load in the mill is not affected by operating conditions. 4. The presence of lifters on the feed end plate does not affect the torque drawn by the mill. 5. Holdup of slurry in the mill is a strong function of slurry viscosity and a weak function of mill speed.

Jan 1, 1986

By Esaki M, Nishimura K

This paper describes the results of the field application tests at Miike Colliery on the integrated automatization of the longwall mining system for medium thick coal seam. The purpose of the research is to develop an automatic longwall mining system which can be controlled accurately from outside of the face, and the ultimate goal is an eliminate of men from the face. Presently, the field test is being conducted in Yotsuyama mine following to a success in the performance test on surface. Remote Batch Control System for shield supports has been adapted to operate all supports from the control panel located at the entrance of the face. Remote monitoring and control system of the drum shearer has also been tested. The system makes it possible to operate the shearer either at the main gate or full automatic. Productivity and safety will be substantially improved as those systems enable to eliminate all workers from the face under the severe working conditions with high ground pressure and hot and humid atmosphere due to increasing mining depth. So far, we have been satisfied with the results of the field test and those system will be an effective countermeasure to operate the face with a high risk of rock-burst.

Jan 1, 1987

By B, T Norgate, S Sanetsis, R Davidson

Global cement production accounts for about five per cent of man-made CO2 emissions (WBCSD, 2002). Such operating practices will increasingly be considered unsustainable, unless significant reductions in environmental impact can be realised by the industry.Slag is a high volume waste product from ironmaking, with about 300 kg of slag being produced per ton of iron. Critically, one ton of slag waste, if used as a replacement feedstock for Ordinary Portland cement (OPC), can prevent around one ton of emitted CO2 since no calcining is required. Slag cement blends can also show superior properties compared to OPC, such as lower heats of hydration and higher late strengths, but more development is needed to overcome their low early strengths. Rapid quenching of molten slag is required to produce æhydraulically-activeÆ binder when reacting with OPC; but water quenching can also require between five to ten tons of water per ton of slag at the plant. æDryÆ granulation (atomisation) is emerging as an alternative technology, the resulting solid product does not require drying, and possibilities exist for recovering heat energy from the hot slag.CSIRO Minerals has well-developed skills and equipment in pilot-scale pyrometallurgical treatment, and granulation of molten slag, including traditional wet, and also dry methods. Techno-economic desktop studies can also be used to help quantify factors such as value-adding of treated waste products, potential reductions in CO2 emissions and carbon credits, reductions in water consumption, and the possible decreased energy costs associated with fine grinding of dry slag granulate.The authors will present preliminary results from slag atomisation/dry granulation testwork (0.5 - 2.5 kg scale) and associated modelling studies, conducted using a æsyntheticÆ and industrial ironmaking slag. Outcomes from a techno-economic study on production of cement utilising wet or dry atomised slag granulate will also be discussed in detail.

Jan 1, 2004

The pilot scale testing of Australian coals for their NO, emissions was carried out at the ACTC to investigate the influence of coal properties, furnace conditions and different NO,, control strategies on NO,, emissions. The NOx emissions for the Australian coals tested were found to vary over a wide range and primarily depended on combustion temperature and excess oxygen conditions. These coals did not exhibit any fundamental difference in NOx levels to other world coals. Under similar combustion conditions, the conversion of coal nitrogen to NO. was found to be best correlated with coal rank parameter, R, max per centage. The use of staged combustion as a control strategy was shown to reduce their NOx levels by 56 - 77 per cent.

Jan 1, 1991

By A Finch, C Pridmore

The Cosmo Project falls within the Archaean to Palaeo-Proterozoic Pine Creek Orogen, one of the major mineral provinces of Australia.The Cosmo Deposit is interpreted to be a series of steep north-west-plunging gold mineralised vein, breccia and shear systems within the tight Howley Anticline and hosted within interbedded siltstones, mudstones, banded iron, phyllites, dolerite sills and greywacke.A folded environment poses a number of technical challenges, particularly for estimation.Handling of tightly folded and in some cases narrow domains might include subdomaining for orientation, omni-directional three-dimensional (3D) estimation within constrained domains or software-enabled unfolding/un-wrinkling procedures (transformation of the data and estimate space into a two-dimensional environment). Each technique has its own unique set of advantages and disadvantages.A further method (one applied at Cosmo) is where the estimation parameters (specifically search and variography orientation) are modified in a frequent or ‘dynamic’ sense to suit the orientation of the domain whilst maintaining 3D space. Control of the resource estimation orientation can be done in several ways, including the use of sectional panels of a specific size or, alternatively, orientation sector divisions. The sector approach provides some significant reductions in processing time over the panel technique and could be applied in a number of software packages.Three-dimensional ‘dynamic’ interpolation reconciles well with production data from Cosmo, whilst the sector method provides a practical technique that can be executed without the complications of transformation or the need for labour-intensive orientation subdomaining and with acceptable resource estimation run time.CITATION:Finch, A and Pridmore, C, 2014. Dynamic interpolation – estimation in a folded environment at the Cosmo Deposit, Northern Territory, Australia, in Proceedings Ninth International Mining Geology Conference 2014 , pp 107–114 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Aug 18, 2014

The treatment of mixed lead carbonate and lead sulphide concentrates at Mount Isa presents a problem which is unique ,in the lead smelting world; a problem whose solution is far from simple, and is not yet complete. Two years of study under plant conditions have definitely proved, however, that a most satisfactory sinter can be made in a single-pass roast.The object of this paper is to present a brief record of the development of the single-pass roast and a resume of current practice in the smelting plant. The sintering operation is discussed in greater detail, as it is upon this phase of the work that every item in the smelter operating programme depends.The smelter, to-day, presents a very much simplified layout, equipped for economical, straightforward operation, requiring, however, very careful and constant supervision, due to the extreme delicacy of the sintering operation and to the rapid and wide variati9n in the nature of the concentrates which are to be handled.

Jan 1, 1933

By Baafi EY, Sun Y, Tague I

Field trials at three New South Wales and one Queensland coal mines were carried out to gather data on oxygen "run out" times of Self-Contained Self Rescuers (SCSRs), time taken to escape from the mine, distances travelled and the average heart rate of subjects wearing SCSRs. The study has led to a method of predicting the duration of oxygen supply from a SCSR as a function of the wearer's body weight, physical fitness and the prevailing environmental conditions. Escapeway design, planning for emergencies, familiarity with SCSRs and experiential escape training are critical to control panic and maximise the likelihood of survival of a person attempting to escape in an emergency involving fire or explosion.

Jan 1, 1998

By A R. Firth

The induration furnace for iron ore pellets was originally designed to process concentrates with high contents of magnetite. To support the use of haematite concentrates, internal fuel was added to the pellets in the form of ground coke breeze or anthracite. To ensure that the addition of coke breeze was not excessive, the ‘heat of magnetite equivalent’ or heat of magnetite equivalent (HME) relationship was developed, guaranteeing that the fi ring temperature requirements remained the same. However, this oversimplifi es the different reaction paths of magnetite and carbon in iron ore pellets. At fi ring temperatures, gas diffusion controlled reactions such as the combustion of coke, the calcination of carbonates and the reduction and oxidation of iron oxides can all occur in different parts of the pellet simultaneously. The interaction of these reactions produces a range of atmospheres across the diameter of the pellet that vary from oxidising at the pellet shell to reducing at the pellet core. Mathematical modelling and pellet fi ring experiments to preheat temperatures before quenching have shown that a higher proportion of coke relative to magnetite slows down the oxidation process, irrespective of temperature. A higher temperature, however, results in an increase in the rate of haematite reduction in the pellet core and a more reducing atmosphere, which could lead to different sintering rates in different parts of the pellet and shrinkage cracks forming. To observe these gas-solid reaction rates at a larger scale, the COREM pot grate has been updated with an additional oxygen analyser. This, along with other improvements, will allow better optimisation of straight-grate firing cycles for different pellet compositions.

Jul 11, 2011

This paper firstly reviews the requirements for container and hopper design for reliable discharge. Discussion is then directed to the evaluation of the consolidation stresses acting in both in both the cylinder and hopper sections during both initial and flow conditions. Here the vast difference, especially in vicinity of the bin outlet, between the initial or filling and flow conditions is highlighted. This vast difference has major design and operation implications. A further major implication is that all bulk solids must dilate to flow. The opportunity to simultaneously attain reliable discharge and partial moisture removal is also examined.The selection of design parameters to maximise the consolidation stresses in both the cylindrical and hopper sections is detailed. In regard to the latter, it is recommended fine coal bins be discharged using low friction lined transition hoppers with large outlet spans. Such outlets will discharge fine coal in a relatively compacted state. This compaction state should exhibit minimum water retention and short term moisture uptake.

Jan 1, 1998

By A G. L Pratt, M S. Kemp

BHP has used many innovative techniques when recruiting its workforce for the Cannington Project. Looking for a balance of experience and enthusiasm it was necessary to develop pre-selection tests to reduce the initial number of applicants to a manageable number for first interviews in Townsville. Success at this stage led to an applicant, and their spouse, to go through a second interview at the mine site. The full process from application to job offer took up to six months, but the results were felt to be worth the effort. The approach taken has resulted in a highly motivated and flexible workforce. This paper outlines the philosophies behind CanningtonÆs recruitment process, highlights some of the issues associated with the approach, and offers some measures of the outcomes.

Jan 1, 1998

By L Clarke, R N. Campbell, F Bourke, J Anderson

Lithological units have been classified geotechnically with mechanical tests and discontinuity measurements from the GRD Macraes Limited, Macraes Gold Project and Rotowaro coal mine open pits, New Zealand. Using these measurements slope stability probability classifications (SSPC) have been quantified based on an adaption of Hack's (1998) SSPC system which places less influence on rock quality designation and unconfined compressive strength than previous slope/rock mass rating systems. The Hack weathering susceptibility rating has been modified by using the chemical index of alteration values from XRF major element analysis. Slaking and weathering is an important parameter in slope stability in the Waikato Coal Measures and Otago schist lithologies and hence a non-subjective method of assessing slaking/weathering in relation to the chemical index of alteration has been introduced. Other major components of this adapted SSPC system are the inclusion of rock moisture content and rock strength anisotropy effects on slope stability. This paper explains the systematic approach of using the adapted SSPC system to classify slope stability probability. The main modifications of Hack's SSPC system are the introduction of rock intact strength derived from Mohr-Coulomb failure criteria which has been adapted for varying moisture content, weathering state and confining pressure. It is suggested that the subjectivity in assessing intact rock strength within broad bands in the initial SSPC system is a major weakness of the initial system. Initial comparison of rock mass friction angles, cohesion and strengths derived from the adapted SSPC are compared with results derived from modified Hoek-Brown criteria, MRMR and SMR classification systems. The advantage of the modified SSPC system is that slope stability probability, maximum batter and overall slope height and overall slope angle for open pit walls can be predicted in addition to orientation dependent and orientation independent stability. Examples are provided, using the modified SSPC system to predict initial optimum pit slope designs in proposed greenfield mine sites.

Jan 1, 2000

By Lu S, Jiang Y

The conventional transportation system in open pit, a to u.* itc:,~> truck., to carry the ore along the ramps. Normally, the transportation distance increases greatly as mining progresses deeper. A new approach to overcome the above disadvantage is to adopt a buried roadway by which ores is transported by conveyors from the mining area to the outside dump in the shortest distance so that the production efficiency is greatly increased. Maintenance of the buried roadway in a good working condition is the key factor that determines the success or failure of the proposed approach. This includes the determination of support load, types and structures of support and other related supporting measures. The crucial problem here is to effectively control the load applied on the buried roadway in a certain range that the ordinary support can stand. Based on the theoretical analysis, numerical modelling and physical simulation testing using equivalent material, this paper studies effects on control of the support load by adopting certain measures, for instance reinforcing the surrounding rock and placing the extendable layer between the support and a rock mass. Furthermore, the influence of the dynamic load induced by the movement of heavy vehicles on the stability of the buried roadway is also investigated.

Jan 1, 1995