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One common public perception of mining is that financially it is an extraordinarily risky business. Another and contrary view, in certain circles, is that price risk and other financial risks can be relatively easily removed or shifted by a number of schemes or devices. In reality, beyond the orebody discovery stage, mining need not be any more risky than most heavy industrial businesses. Nevertheless, as stated by Rappaport, (1986): Risk is a parameter of central importance in establishing the economic value of any asset. The level of risk is determined both by the nature of the firm's operations and by the relative proportions of debt and equity used to finance its investments. These two types of risk are commonly referred to as 'business risk' and 'financial risk' respectively. The term financial risk is used somewhat more loosely herein to recognise the reality that any risk inadequately addressed in the design, construction and operation of a mining project can have significant financial consequences; usually negative. For instance, a specific area of business risk in mining is often called technical risk which definitely has severe financial consequences if not managed correctly. The various risk shifting, hedging and risk management tools available all have their place and range from merely useful to almost indispensable. However, in the long-term, financial risks are maintained at acceptable levels by the application of sound, more fundamental business management principles. There are many with a vested interest in perpetuating a perception that the conceptual foundations of sound management practice are extremely complex. In reality, most management concepts are prosaic, but their application requires incredible discipline and hard work. There is no magic formula or 'silver bullet'. It appears that a company whose activities are restricted to mining can analyse the range of risks specific to mine development and operations more clearly than companies in which mining is just one of many businesses. The almost universal failure of large oil companies in the mining business is probably the best example of lack of any clear comprehension of fundamental business characteristics and risks. Conversely, in regard to risk management, choosing to be in other business as well as mining does nothing to reduce the risks of the mining business. The individual shareholder can probably make such 'diversification of portfolio' decisions better than most management teams. It could be argued that diversification across a number of disparate businesses may actually increase overall corporate risk due to lack of management concentration and focus. These differences between the perceptions of financial risks and the realities in mining need to be further elaborated in relation to some uncompromising business concepts.

Jan 1, 1994

Iron from the blast furnace constitutes the starting point in steel production and any increase that can be made in iron production will bring about important repercussions in a long line of processes. Coke constitutes a major item in furnace operation and consumption at the Port Kembla Works of Australian Iron & Steel Ltd. has been approximately 1,850 lb. per ton of iron produced on ore practice, or 3,000 tons per day.For many years coke quality has been subject to much criticism by furnace operators throughout the world, sometimes with little real grounds. Whatever the merits of previous arguments, and they were no doubt two-sided, the development of bigger furnaces has focused attention on coke strength. At the same time a decrease in the quantity of good quality coking coals available to many plants has stimulated research in this field.Extensive coke research has been carried out overseas, and in Australia the.B.H.P. Organization is now actively doing likewise in its Central Research Laboratories at Shortland near Newcastle, N.S.W., and works research groups at Newcastle and Port Kembla Steelworks. Similar work has been initiated in the beehive coking industry. Such work is in its infancy and this paper will outline the direction of the activities at Port Kembla rather than propound specific solutions.At Port Kembla good quality coking coals are readily available from the IIIawarra coalfield. The seams generally mined for coking are Bulli and Wongawilli and to a much smaller extent Tongarra. Characteristics of these coals appear in Table 1.

Jan 1, 1958

AustraliaÆs current interest in renewable energy is based on a desire to reduce the countryÆs greenhouse gas emissions. Wood from sustainable sources offers a unique opportunity to combine greenhouse gas benefits with other significant environmental and social benefits, including salinity mitigation, carbon sequestration, soil replenishment and rural industry. The challenge is to make renewable energy from wood in a cost competitive manner, so that this broad range of benefits may be best realised. Bioenergy and carbon products are of great interest as new, commercial forestry products that can drive large-scale environmental tree planting:In Western Australia, Enecon has worked with Western Power Corporation to build the first full-scale plant for integrated processing of mallee eucalypts, to produce activated carbon, renewable power and eucalyptus oil. It is intended that this plant is the first of a number of such plants to help catalyse environmental tree planting in Western Australia. New technologies being developed overseas may provide competitive bioenergy in areas where traditional markets for wood do not exist. For example, pyrolysis converts wood into a bio-oil that may be transported to remote sites for power generation in gas turbines. Pyrolysis also produces wood char. Pyrolysis and wood-to-ethanol technologies, coupled with short rotation coppicing trees, offer the long-term prospect of large-scale production of renewable fuels around the country.

Jan 1, 2006

Statistical frequency distributions may be used to characterize the overall variation of grade in orebodies. Special types of distribution (e.g. lognormal, log-type A) are necessary to describe skewness inthe case of rare metals. Also needed (but for the most part hitherto neglected) is the serial correlation function which describes the tendency for grades near together in an orebody to be closer together than grades at points relatively far apart.The sampling problem for orebodies is interpreted in statistical terms. Different methods are reviewed, and the effect of serial correlation discussed.A discussion is given, based on experiments and observations made by the author, of biases arising in the minei:l material by such methods as chip sampling and grab sampling due to such causes as nonrepresentative selection by the sampler.INTRODUCTIONMiners have always recognized the large element of chance in their operations. Chance is the raw material of statistical theory and, provided there is some recognizable pattern or underlying regularity in a set of data arising from the operation of chance events, statisticians are able to formulate mathematical models to study them. Mining engineers, geologists, and statisticians have gone a long way between them towards finding general statistical rules which describe the distribution of minerals and metals in orebodies, and even the distribution of orebodies over the earth's surface.These rules do not have the force of physical laws, though they obviously derive from them and have been used to throw light on them. From statistical theory it is possible to find methods of estimating from sampling some of the characteristics of orebodies which are of importance to...

Jan 1, 1962

Consideration of the questions: (i) is it feasible to study groups of processes in a generalised way? (ii) to what extent does purpose affect the form of a process model? (iii) are there any significant, novel investig- ations which can be made by computer simulation? (iv) what long-term developments are desirable in extractive metallurgy? has led to some new broad objectives for research in hydrometallurgical process engineering. Propositions for grouping processes, developing models for different specific purposes, using a systems engineering approach and developing high technology processes are discussed, and the role of computer simulation indicated by reference to particular projects.

Jan 1, 1984

The JORC Code, which has been in existence as a Code incorporated in the listing rules of the Australian Stock Exchange and New Zealand Stock Exchange since 1989 and 1992 respectively, has been revised and will be re-released in 2003. This revision followed a call for submissions in December 2001, the publication of an exposure draft in late-2002 and an exposure period during which a large number of constructive comments were received. These comments were reviewed and a further exposure draft released as part of the current exposure draft of the ASX listing rules. It is anticipated that the final Code will be incorporated into the stock exchanges listing rules in late-2003. The 1999 JORC Code has been the standard on which other reporting Codes have been based, each of which has contained refinements. Three in particular, the Reporting Code from the United Kingdom/Ireland/Western Europe, the new Canadian Reporting standards and the SAMREC Code from South Africa, influenced JORC in the preparation of the 2003 JORC Code. Whilst there are differences between the 1999 Code and the 2003 Code, these changes are mainly in the guidelines. The Code definitions, which are largely in accord with agreed international definitions, remain substantially unchanged. The two main changes in the 2003 Code are the requirement for a Competent Person to be responsible for the documentation relating to the reporting of Exploration Results, and the introduction of æRecognised Overseas Professional OrganisationsÆ as overseas organisations to which Competent Persons may belong. Other changes include: clarification of the reporting of exploration targets or potential; the rearrangement of the diamond reporting clauses; the introduction of guidelines for the reporting of Industrial Minerals; modification of the coal clauses and recognition of the new Coal Guidelines; and the introduction of a guideline encouraging the discussion of relative accuracy and confidence in resource/reserve estimates. Other lesser changes to the Code are listed and discussed briefly. The release of the 2003 JORC Code maintains the standard set by JORC as a world leader in the development of mineral reporting Codes and their adoption by industry.

Jan 1, 2003

By M Lewis, A Cook

This paper is based on the technology and functionality of a Modular Mining IntelliMINE« system which is a real-time decision-making tool. The IntelliMINE« system, incorporating Dispatch, is a fully Integrated Mine Management System. Measuring, quantifying and analysing the performance of mining is considered a fundamental and strategic step towards changing the nature of technical and operational decision-making at the majority of international mining corporations. Successful implementation of electronic data capture devices and computerised tools have enabled many mining operations to improve their competitive position with an improvement in the utilisation of the key assets, mineral resources, capital mining equipment and human resources. Real Time Mine Management Systems are designed to direct the emphasis away from collecting data and focus decision makers on the real issues with well-presented and reliable information. The systems provide a common stream of information to enable senior management, operations, maintenance, technical and process plant staff to make complementary decisions based on reliable, accurate and timely data. The mine asset information tools focus all employees on performance and give them feedback on their area of responsibility. The resulting tangible benefits can be delivered in different forms depending on the mining method, ore type, workplace culture and the current competitive position. Typical areas of improvement reported by system users are:reduction in capital expenditure on mining equipment fleets; more effective planning and budgeting parameters and procedures; increased control over ore-extraction and processing; increased employee accountability and organisational performance; and improved co-ordination between planning, operations, maintenance and processing. These improvements can be delivered in different forms depending on the status of the mine and commodity markets. In times of market oversupply and low commodity prices, the benefits can be delivered to the bottom line in terms of reduced cash costs, reduced capital and operating resources to maintain constant production. In times of market expansion, existing capital resources will be more productive delivering increased production and revenue. Mine management systems have the potential to transform a traditional mine operation into a learning organisation with an improved understanding of the critical performance issues and enable development of relevant strategies to continually identify and eliminate operational inefficiencies. The effectiveness of each strategy and operational change can be accurately monitored and its success (or otherwise) will be quantified. The latest downturn in the world metal prices has forced many mining companies to focus on cost reduction and productivity improvements as a means of remaining competitive. Maintenance represents a significant proportion of the overall operating costs in the mining industry. A structured proactive maintenance approach such as Reliability Centered Maintenance (RCM) can achieve significant cost reductions and productivity improvements. Remote condition monitoring systems are becoming increasingly commonplace and have the potential to identify problems prior to failure. Detection of equipment degradation prior to failure will enable repairs to be scheduled, thereby reducing costs and interruptions to production.

Jan 1, 2000

Rocks of all geological ages are present on the Australian continent. As a result of its geological heritage, Australia is richly endowed with mineral and energy resources. Due in part to its enormous mineral wealth, the nation is in the position of being a wealthy country surrounded by less developed countries of the Asian and Pacific region. Over many years Australia has developed and gained valuable experience in the exploration, mining and processing of a wide range of mineral and energy resources. In an interdependent world community, it is obviously in Australia's interest to cooperate and provide assistance in geoscience education and training to developing countries of the region.

Jan 1, 1986

By O V. Vasyukova

Formation of porphyry-style ore deposits starts with the metal extraction from magmas at so-called magmatic-hydrothermal transition (MHT). The processes and compositions at MHT are difficult to study as the record of them is poorly preserved. As the MHT is characterised by massive crystallisation of quartz, including quartz æeyesÆ and veins, their study can elucidate questions related to metal transport and deposition. Quartz grains from the porphyry deposits all over the world (Antapaccay, Peru; Batu Hijao, Indonesia; Climax, USA; Panguna, PNG; Far Southeast porphyry, Philippines; Rio Blanco, Chile; Omsukchan, Russia) were studied by optical, SEM-CL and BSE microscopy, electron microprobe and LA ICPMS. Quartz grains, even within each sample, have different shapes (rounded, egg-shaped, amoeboid or euhedral) and cathodoluminesence (CL) patterns (shape, number and width of bands in CL images). The outer layers of quartz are markedly different, which is unexpected if the grains had formed in the same conditions. Inflections and blurring of CL bands are often structurally associated with fractures that are commonly healed with secondary quartz and associated fluid inclusions. Our results show that quartz æeyesÆ could not crystallise from a silicate melt as normal phenocrysts. It is likely that in situ segregation of residual SiO2- and H2O-rich liquid and its solidification followed by coagulation (eg formation of silica-gel globules) took place in the magma (crystal mush) during MHT. Such globules could remain in a plastic state for a long time even at rather low temperatures. The solidification of globules occurred after bands of different composition had formed and led to fracturing of solidified and inflection of unconsolidated layers. All fluids (liquid and vapour) released from the original silicagel during solidification were trapped as inclusions (aqueous, salt-rich and sulfide). An EXTENDED ABSTRACT is available for download. A full-length paper was not prepared for this presentation.

Jan 1, 2008

By V Rajakumar, S Trang

Titanium has the potential to become the third wave of light metals used in high volume applications, following on from aluminium and magnesium. These light metals have functional attributes that can meet many of the goals needed for societyÆs transition to sustainable development. CSIRO has initiated a Light Metals Flagship to focus additional R&D efforts in support of the light metals industry. The vision of the Light Metal Flagship is for Australia to lead the Light Metals Age by reducing the costs and environmental impacts through innovative technologies for these metals. Life cycle principles will be used to identify novel technology pathways for metal production and product manufacture that are more energy efficient, less capital intensive and incorporating eco-efficient material flow chains.Under the auspices of the Light Metal Flagship, a Life Cycle Assessment (LCA) of titanium metal production was carried out with mineral sands mining of ilmenite as the starting point. Upgrading of the ilmenite to synthetic rutile by the Becher process and titanium metal production by the conventional Kroll process were the processing routes considered. Two alternative processes for titanium metal production, the FFC Cambridge process involving direct electrochemical deoxygenation of titanium dioxide, and a plasma process for producing titanium powder from titanium tetrachloride were also examined using LCA methodology and compared to the Kroll process. The environmental impacts included in the LCA were greenhouse gas emissions (Global Warming Potential, GWP) and acid rain gas emissions (Acidification Potential, AP). The Gross Energy Requirement (GER) of each process was also determined.These results for titanium, along with those from previous LCA studies by CSIRO on aluminium, magnesium, steel and stainless steel production, were used to show that despite the relatively large amounts of primary energy required for the production of these light metals, their special properties (eg corrosion resistance, strength and light weight) mean that these metals offer potential GER and GWP reductions compared to other competing materials in a number of applications, when viewed on a life cycle basis. Two applications considered in the paper are the lightweighting of motor vehicles and chemical plant equipment manufacture.

Jan 1, 2004

By T Raynlyn, J J. Campbell, J M. Young

In order to correctly predict the performance of beneficiation processes, such as hydrocycloning or ultrasonic treatment of iron ore fines, it is important to understand possible changes in size distribution, mineral composition and textural peculiarities. During beneficiation processes, iron ore can be subjected to various physical actions which may result in changes in size distribution. In the case of soft or friable ores, attritioning and/or deagglomeration may have a significant effect on both separation performance and product stream specifications. Optical image analysis tools, which give statistical information on a particle by particle basis, can help in better understanding the response of the ores to these processes. An experimental study has been conducted to investigate the response of a haematitic-goethitic iron ore to a combination of stirring and ultrasonic treatment. The effect of stirring and ultrasonic treatment on the size and mineral distribution has been quantified using image analysis and automatic ore texture classification. This approach has been applied to several size coarse fractions of the initial feed and product. The results show that, following treatment, the mass proportion of ore texture classes which contained higher amounts of ochreous goethite and kaolinite had significantly decreased compared with that in the feed, while the proportion of texture classes where haematite was the major mineral had increased. Liberation analysis also showed a significant increase in the proportion of particles with more than 95 per cent haematite and vitreous goethite.

Jan 1, 2007

By Collins L

The commercial success of a mining project can be strongly influenced by the business activity which takes place away from the mine site. The project revenue is determined by marketing success which results from persistent research and full realisation of suitable products and by-products and appropriate upgrading achieved in conjunction with proper material security and insurance. Significant costs of transport can be optimised, protection of the environment carefully managed and skilled employees acquired as a valuable asset. Working capital requirements are often substantial and should be carefully established and financed, possibly by special contractual arrangements for product sales.

Jan 1, 1997

Stress Mapping Technology is aproprietary technique developed to target epigenetic mineralisation located in dilatant (low stress) sites. It is a computer based technique, based on rock mechanics principles and stress-strain relationships, which seeks to transform strain data, in the form of a solid geology map, to stress data.The main assumptions in the conceptual model are that:The strain pattern of faults and lithological contacts have not been changed since mineralisation i.e. that ore formation is late in the structural history.Stress orientations and magnitudes are known.Rheological properties of faults and rock units can be deduced.The 2D geometric and rheological data is then treated by a mathematical technique which permits the geometry of the elements to be defined by the spacing and orientation of the discontinuities in the rock mass.

Jan 1, 1990

In both exploration and mining, the laboratory is often seen as a cost rather than a profit centre. The aim in most mining companies is to increase profits by reducing costs, so the budget for the laboratory is under constant pressure.There is another option; to see the laboratory as the brain of the operation. By lifting the status of the laboratory and treating it as a profit centre, mine costs may be reduced in other ways, e.g. reduction in milling costs. This change of status will require investing more capital in better equipment, more training for employees and more employees to carry out project research.There are many examples of major costs being incurred because of inadequate laboratory work. Conversely, by spending more money on laboratories and their activities, overall costs can be reduced or profits enhanced.

Jan 1, 2002

By Mills JC, Belcher CB

X-ray fluorescence spectrometry is used videly for routine quality control of the mining, )lending and agglomeration of iron ores. Most )f the procedures used, cannot tolerate significant changes in matrix composition or be Lpplied to a wide range of elements. Accord- ngly, a graphite briquette technique which is Lpplicable to some fifty elements in widely Tarying iron ore matrices is described. The ignificant advantages are suitability of the ame preparation for both optical emission and -ray spectrometry, a complete elemental overage for the range 5bcg/g to 100%, and the recision and accuracy of the methods are om.parable with the standard chemical.methods hich have been superseded in the authors' boratories. The proposed methods become ore attractive and economical as more prehensive information is sought.

Jan 1, 1975

Just as Australia is part of the Pacific Rim, so the Pacific Rim should be viewed as part of the whole world. That applies in particular to that scarce commodity û money. There are five main factors of production in any mining development û mineralisation, materials, manpower, management and money. LetÆs focus on the upstream input û mineralisation, and the downstream input û money, especially in the area of communications. Unknown to many, the Competent Person reporting on Mineral Resources and Mineral Reserves has a direct and unavoidable impact on the companyÆs financial statements û the profit and loss account and balance sheet. With respect to reporting of the major asset of most mining companies û the resources/reserves û investors are getting a better deal now than at any time in memory as regards flow and adequacy of information. Australia has been a world leader in this regard. The outlook is for even more informative and useful reporting. The more rigorous reporting requirements for Exploration Results and Mineral Resources/Reserves, which have become a worldwide phenomenon over the last five years, will continue. This will be positive for the mining industry as a whole and for Australia in particular. However competition for the scarce investment dollar will also increase. Put simply, mining has many competitors, unconnected with mining, for the capture of the investment dollar. It behoves all participants to recognise that there are three investment factors which influence strongly the willingness of investors to put money into mining. These are Confidence, Credibility and Consistency. AustraliaÆs investment image stands high in these three respects, but the competition will continue to grow. AustraliaÆs lead must be maintained. However, some investment decisions should not necessarily be based on fundamental, quantifiable facors. Some of these are outlined.

Jan 1, 2004

The phrase "Total-Energy" has, during the past few years, become widely used to describe a wide range of very different operations. However, if accurately described they all have one basic factor in common - energy usage is optimised with the prime mover being powered by gas or oil to generate shaft horsepower and the products of combustion being put to some use. The item which distinguishes a Total Energy system from any other engine or turbine driven project is that orate pains are taken to utilize the waste heat, whether this be in the form of exhaust gases and/or engine jacket ling water. n areas where grid supplies of electricity are readily available, the economics of most projects undoubtedly hinge upon the successful application of waste heat. However, there has been a growing awareness of other benefits, such as reliability of supply, which can be incorporated into the system. In particular these factors sway managements of hospitals and companies with complex computer facilities to examine closely the feasibility of Total Energy, Consequently, in America for example, where many systems have proved themselves the list of applications is wide - shopping centres, apartment blocks, office buildings, airline terminals, universities, schools, motels. And these do not cover the industrial sectors where the range is wider. The total number in North America is now approximately 500 and this to some extent-speaks for itself. In Australia, the real work involved in carrying out feasibility studies for Total Energy is only just beginning. 'in some quarters, the concept is not well received in that it is too new. Therefore, a typical approach is to play safe and wait until some other company has proved its operation "under Australian conditions". This is certainly a realistic approach when considering something revolutionary but as far as Total Energy.is"concerned all the individual components and sometimes combinations, (engines, generators, boilers, air-conditioning units) have been in operation for many years. The only innovation is that they are now all being brought together under one roof. This should not be forgotten when the question "where can I see something like this operating?" is asked.

Jan 1, 1970

In October 2005 Phelps Dodge mining, a US based company, visited several Australian mining companies and mine sites to ascertain the current applications of risk management methods in the organisation. The results of this review, documented by the author, indicated a ælayeredÆ approach from high level site or major hazard analysis through to face level, æstop and lookÆ, methods. The approaches of several companies were summarised in one simple layered model. This model is helpful to other sites and companies to identify potential improvements but also offers an image of best practice that may assist with the governance of OH&S by both company boards and community regulators. The issue is particularly relevant as we discuss national consistency in mining regulation. This paper examines the layered model, the company and site approaches that helped define the model, as well as the suggested implications of the layered model to governance.

Jan 1, 2006

The primary objective of any planning exercise is to maximise the return on funds utilised while maintaining a safe and socially responsible working environment. In order to achieve this, it is essential that the assumptions applied reflect as accurately as possible the future realisation of the project. In narrow vein mining, the risk that this will not occur can be significantly greater than that associated with other types of mining projects. This results partially because of dramatic effects upon project cash flows with seemingly minor changes in operating parameters such as orebody width and wall rock competency.The validity of a planning exercise can therefore be related to the extent of available data and to the experience and perceptions of the operating entity. The various factors which must be assessed include absolute values and variations in a range of factors, especially the dip and dimensions of the orebody, the geotechnical parameters and anticipated ground conditions, the productivity and production characteristics of the selected mining method as applied to the specific orebody, and the impact of mine access and development.

Jan 1, 1993

By J Watson

Electronic detonator technology has been under development for the last two decades. Currently, there are a number of systems commercially available with several others still under development, each with its own unique features. This technology can offer a significant advantage to the drill and blast engineer through their ability to initiate an explosive charge at the æplannedÆ time. This new technology has created huge interest within the drill and blast community and also raised their expectations to produce better blasting outcomes. In many cases, specifications (or even expectations) of desired blast results are not properly defined. Interaction between the input variables (rock mass characteristics and blast design) and results (fragmentation, throw, damage, ground vibrations, etc) and their mechanisms, or relationship to one another, are not very well defined or understood. That is why rock blasting is still considered by many as an art rather than science. With one of the few remaining variables (cap scatter) now controllable, todayÆs blaster finally has the ability to apply science to his trade. Even though electronic detonators are available and becoming more commonly used, current field practices are not always conducive to extracting or deriving the maximum benefit from this new technology. In the authorÆs opinion, the following need to be understood to derive and sustain the maximum value: clear definition or specification(s) of desired outcomes from a given blast; impact of different features in an electronic detonator system (precision, accuracy, flexibility, reliability, etc) and their impact on the desired blasting outcomes; interaction of blast design variables (energy, energy distribution, timing, blast geometry) and their impact on desired outcomes; impact of rock mass variability and quality of blast implementation on the desired blasting outcomes; and critical need to utlilise appropriate tools and systems in order to measure and quantify benefits.In the authorÆs opinion a scientific implementation process is the key to derive the benefits. This paper analyses the industryÆs preparedness to derive the benefits from this technology and proposes a scientific methodology to understand, evaluate and sustain the value from this technology.

Jan 1, 2004