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By A Chandra, P Guj

Only a few complex real options can be valued using closed-form equations, such as the Black and Scholes formula, because these algorithms are restrictive and prevent the construction of practical project evaluation models. Although a binomial lattice method paired with the ærisk-neutral probabilityÆ provides an easier and flexible modelling of exploration and mining projects, it has limitations when projects are complex, long-lived and influenced by the interplay of various market and private uncertainties. In order to overcome these limitations, modern decision tree software using dynamic programming capability can be used for real option valuations. This is a powerful computational tool in which the impact of various sources of uncertainties can be differentiated, so that the optimal decision path can be explicitly displayed visually. There has been significant academic controversy surrounding whether different real option (RO) valuation methods would lead to different real option values (ROV). This paper, using a realistic copper mining example, demonstrates that as long as the same degree of subjectivity and consistency are used in different real option valuation methods, they yield the same result. This conclusion is valid irrespective of whether the cash flow volatility generated by various sources of uncertainties is handled in an aggregated or in an explicit and differentiated manner. This paper compares two choices for an investor either to æbuy now and developÆ a project or to enter into a ætwo-year option to purchaseÆ after the proponents have developed it. It also shows how significantly different net after-tax operating cash flows may be generated by these different choices on the same underlying asset represented by the project. This is due to the difference in the amount and timing of the relevant capital investments affecting the depreciation and amortisation charges and as a consequence, the income tax paid. CITATION:Guj, P and Chandra, A, 2012. Real option valuation of mineral exploration/mining projects using decision trees - Differentiating market risk from private risk, in Proceedings Project Evaluation 2012 , pp 177-188 (The Australasian Institute of Mining and Metallurgy: Melbourne).

May 24, 2012

By J Gould, T Elkington

Mine operation strategies are commonly optimised with a net present value (NPV) maximisation objective. There are well known properties of a typical mining project optimised for NPV, including high production rates and declining cut-off grade schedules. In practice, however, frequently there are operations that diverge from such NPV-maximising properties. Although a range of reasons for this can be at play, one possible explanation is that operators intuitively adjust their strategies to compensate for the flaws inherent to NPV maximisation. In particular, NPV analysis does not reflect the benefits of managerial flexibility inherent in a mining plan. Real options valuation (ROV) is an alternative approach that addresses this issue. We compare the properties of NPV and ROV optimisation solutions generated for the same scenario. Our simple case study demonstrates that the presence of real operating options in the optimisation model not only entails increased project value as expected, but also tends to encourage lower processing capacity (with lower associated capital cost), higher cut-off grades and greater use of stockpiles.CITATION:Elkington, T and Gould, J, 2012. Real option value optimisation, in Proceedings Project Evaluation 2012 , pp 35-40 (The Australasian Institute of Mining and Metallurgy: Melbourne).

May 24, 2012

By Gerhard Meyer

A new instrument for the determination of iron., zinc, calcium, and other metals independently directly in the fumes emitted from steelmaking processes is described. Based on the well- accepted method of X-ray fluorescence, the instrument can detect numerous metals simultaneously in the fume as well as report their concentration on a mass per unit time basis real time to a control room computer. The instrument mounts on the wall of the fume duct and can., via a small opening, directly view the hot exhaust plum inside the duct. The concentration of metal in the fume over time has been shown to change dramatically depending on process variables. Variables such as oxygen flow rate, lance height and nozzle configuration., slag condition., and episodic scrap addition can affect the presence of metal particles and fume in the exhaust. An analysis response time of 6 seconds enables better control of the steelmaking process thereby conserving primary resources and reducing environmental impact.

Jan 1, 2001

By L A. Balzan, F Nieuwenhuys

GEOSCAN on belt analysers have been widely utilised in iron ore for nearly two decades. Since the first installations in 2003, the availability of accurate and reliable grade data has become standardised across iron ore mines in the Northern Cape in South Africa, where various streams are monitored continuously to ensure the optimal functioning of plants. Assmang Khumani has been at the forefront of technology adoption, and has implemented 19 GEOSCANs at various locations throughout the plant, monitoring run-of-mine, stockyard feed, beneficiation plant feeds, and products. Over the years, collaborative advances in the technology have allowed for numerous benefits and gains to be made. In recent times, there has been a concerted effort on the development of analysis for phosphorus in the material flows, and based on Scantech’s experience in the phosphate industry, this element has now been calibrated to achieve statistically acceptable and repeatable accuracies for real time analysis of this element on many of Khumani’s GEOSCAN analysers. This paper provides an overview of GEOSCAN use at Khumani, while focusing on the development of phosphorus analysis. A case study of analysis results is presented for a range of analysers that have been calibrated for this element, as well as a discussion on the benefits obtained as a result of this analysis.

Nov 8, 2021

By L. A. Balzan, M. Kalicinski, F. Nieuwenhuys

GEOSCANs on belt analysers have been widely utilised in iron ore for nearly two decades. Since the first installations in 2003, the availability of accurate and reliable grade data has become standardised across iron ore mines in the Northern Cape, where various streams are monitored continuously to ensure the optimal functioning of plants. Assmang Khumani has been at the forefront of technology adoption and has implemented 19 GEOSCANs at various locations throughout the plant, monitoring run-of-mine, stockyard feed, beneficiation plant feeds, and products. Over the years, collaborative advances in the technology have allowed for numerous benefits and gains to be made. In recent times, there has been a concerted effort on the development of analysis for phosphorus in the material flows, and based on Scantech's experience in the phosphate industry, this element has now been calibrated to achieve statistically acceptable and repeatable accuracies for real time analysis of this element on many of Khumani's GEOSCAN analysers. This paper provides an overview of GEOSCAN use at Khumani, while focusing on the development of phosphorus analysis. A case study of analysis results is presented for a range of analysers that have been calibrated for this element, as well as a discussion on the benefits obtained as a result of this analysis. Keywords: Online analysis, real-time, process control

Jan 1, 2020

By J. Chretien

The ability to continuously monitor the air quality within a mine has become instrumental in becoming a low cost producer. The many considerations involved in monitoring air quality include sensor type, hardware placement, as well as data storage medium. BESTECH has had the opportunity to gain insight into these air quality monitoring considerations through deployments of NRG1-ECOTM, a minewide energy consumption optimization system. This paper explores the particular challenges overcome through these installations, and provides a set of guidelines for mines that want to maximize data capture while minimizing costs. It provides a view of additional benefits of air quality monitoring, such as ventilation control, reporting and trending.

Aug 1, 2013

By Bora Okumusoglu, Devon K. V. Mothersille

"AnchorTest is an innovative software package, specifically developed for tablets, that permits ground anchor test data assessment and management in real time. The solution has two components: a front-end tablet app runs on the Apple iPad platform, and a back-end Cloudbased system running on Amazon Web Services with an online cross-platform website, which can be accessed from any PC, tablet or even mobile smartphone. This tool provides full data analysis and data management capabilities and portability to create greater efficiency in the anchor testing process. AnchorTest is programmed to accommodate the major international anchor testing codes and incorporates an intuitive user interface, which is revolutionary compared to conventional engineering software designs. The use of this tool creates an environment where the testing of ground anchors has effectively become a paperless exercise with greater efficiency and access to instantaneous feedback on the performance of anchors in relation to established acceptance criteria.Historically, project personnel record and analyze the results from anchor load tests using spreadsheets and a laptop computer and/or on predesigned paperbased test sheets (usually as a backup of the testing). In addition, the processing of the test results is not typically performed in real time as the testing progresses — the calculations and analysis are performed either afterward while still on site (if a field office is available) or after returning to the office. Undoubtedly, on larger projects containing numerous anchors where multiple anchor tests may be performed at the same time, processing, analyzing and accepting the load test data and results can be especially time consuming, which could cause delays to the construction schedule.DevelopmentThe need for a more automated and digitized approach to record, process and analyze the data from anchor load tests was highlighted at a deep basement project for a mixed-use development complex in Moscow, Russia. The diaphragm wall supporting the structure was approximately 1,970 ft (600 m) in perimeter length and about 148 ft (45 m) deep, with an excavated depth of about 82 ft (25 m), which required six levels of single bore multiple anchors (SBMAs). This project provided a challenge to recording, processing and signing off on the data generated from some 3,600 3-unit SBMAs. More specifically, for this project, three hydraulically synchronized stressing jacks were used to stress and proof test each 3-unit SBMA, which resulted in nearly 10,800 data plots of the load-extension tests being generated. This project served as the main impetus in the conceptual design and optimization of AnchorTest."

Jan 1, 2017

By E. J. Sun

The ADS system was developed to reduce accidents related to haul trucks operating under low visibility conditions in surface mining and construction sites, which is based on the GPS, mesh-wireless networks, and the Google-Earth 3D graphic engine as the graphic interface and mine-mapping server. This system has the capability to pin-point and track vehicles in real time using a 3D interface, which is based on user-based AutoCAD mine maps using the Google-Earth graphics interface. All equipped vehicles are shown in a 3D mine map stored in a local server through a wireless network. When low visibility conditions are present, the system indicates available exit/escape routes for driver safety. The research results indicate that the ADS system potentially increases reliability and reduces uncertainty in open pit mining operations by customizing the local 3D digital mining map, constructing the truck 3D models, tracking vehicles in real time using a 3D interface and indicating available escape routes for driver safety.

Oct 1, 2009

By A. F. van der Merwe, R-D. Taylor, M. Jacobs, F. H. Conradie

Total bound moisture (TBM) is a typical quality indicator of industrial-grade gypsum. This gypsum is comprised of three distinct phases, namely anhydrite, dihydrate, and hemihydrate, of which only the latter is of much industrial use. TBM analysis is a lengthy laboratory procedure, and an artificial neural network (ANN) TBM inference measurement is proposed as a fast and online alternative. An ANN inference model for gypsum TBM based on plant data was developed. The inputs to the network were primarily focused on the plant's calciner, and different network topologies, data divisions, and transfer functions were investigated. Furthermore, the applicability of the TBM value as a quality indicator was investigated based on a gypsum phase analysis. A strong correlation between TBM and the gypsum hemihydrate and anhydrite content was found, validating the plant target TBM of 5.8% as a quality indicator. A network topology consisting of one hidden layer with logarithmic-sigmoid (logsig) and pure linear (purelin) transfer functions showed the best performance (R > 90%).

Oct 3, 2023

An image analysis system has been built which automatically digitizes camera input of rock fragments, analyses the digitised data to determine the sizes and shapes of the rock fragments, and outputs the analysed data to a printer in the form of a histogram or a scatter chart. The high speed of such a system allows for direct collection of data from material thrown into the air by blasting, material travelling on a conveyor belt, and material free-falling on to a stock-pile or into or out of a rock-crusher. Data on the blasted, un-crushed material provides information on changes in the lithology and structure of the rock face as it is quarried or mined: flatter fragments may represent approach to a brittle, unstable shear zone, or a change from sandstone to shale; so that the informa- tion reflects the effect on the sizes and shapes of the fragments by the blasting process and/or by the rock structure. The size and shape distributions of rock fragments produced during blasting and during processing may now be continuously monitored. Such detailed analysis of the results of fragmentation is labour-intensive and expensive when the size and shape distributions are obtained manually, but is cheap and efficient when using this image analysis system. Such a system will enable the results of blasting, quarrying, mining and crushing to be cheaply analysed and correlated with current and changing indus- trial practice so leading the way to increased productivity.

Jan 1, 1988

By Hao Zhang

Site inspection is an important component of safety management system. In current practices, the inspectors evaluate the safety condition on a construction site with the assistance of a standardised checklist. However, the checklist emphasizes on evaluating the implementation of safety management system, but provides limited task-specific check items for assessing whether the individual construction tasks are conducted under safe condition and in a safe manner. To address this issue, the research presented in this paper aims to provide safety practitioners with comprehensive and taskspecific safety information to promote effective risk identification and facilitate strategic risk control during site inspection. Specifically, this research first builds a project-specific safety information database, which stores potential risks and control measures for each construction task. The research team then develops a mobile decision support tool to retrieve information from the database and support safer decision-making on site. The tool supports users in two ways: one is to provide daily risk checklists and risk control strategies to guide step-by-step inspection alongside the project schedule; the other is to let users input any safety-related keywords during the safety inspection process and the tool returns relevant safety information by applying text mining algorithms. It is ongoing research. This paper presents an overall research framework and discusses the progress in developing safety database and data retrieval concepts. The outcome of the project will help enhance safety management practices and reduce possible risky working conditions on a construction site.

Aug 1, 2013

By Kevin L. Gering

A detection method and apparatus have been developed to perform real-time measurement of aqueous free cyanide, C-. A laboratory prototype can measure cyanide ranging from 5 micrograms ,per liter to 100 milligrams per ?liter for analysis times as short as 2 minutes per measurement. Sample size per measurement is typically only a few mI, thus? minimizing the waste volume produced from spent samples. The basis for this detection device is a quantifiable, stable affinity between the electrode material and free cyanide in the sample; The electrode exhibits piezoelectric behavior, allowing it to be used as a microbalance. This technology 'has experienced two generations of laboratory prototypes, and has been thoroughly tested to determine the operational sensitivity toward process variables such as pH, competing reactions, etc. The speed and ,accuracy of this method make it superior to conventional wet chemistry methods used for quantifying cyanide levels in water. A device based on this technology could be useful in areas involving process monitoring and environmental compliance, .particularly in the cyanide-based leach mining industry. Interest for this detector has been shown by the gold mining industry and others. Patent application is in progress.

Jan 1, 1998

By D Chalmers, C C. Harb

The detection and control of gas levels in mining is a continuing challenge for the industry. Standard detectors have many problems that could be overcome with laser based spectroscopic instruments, but to date these systems have not been suitable for mining conditions. This paper reports the development of a new digital data extraction scheme to modernise traditional cavity ring down spectroscopy (CRDS). CRDS is a direct cavity enhanced laser based absorption technique, which is used to allow the identification of an unknown substance by their molecular fingerprint; this unknown substance is identified by analysing the ring downtime of the light exiting the optical cavity. Traditional CRDS has many issues when analysing substances in hostile environments, or when multiple species may be present. This presents an alternative approach, called real-time CRDS (rtCRDS) that has the potential to overcome many of these issues and produces systems that could be used in the mining industry. The system utilises newly developed widely tuning quantum cascade lasers combined with improved optical cavities and novel digital data extraction to produce spectra over a 1500 nm range in a few seconds. The ring downtime measurements produced are accurate and have high sensitivity and maximum signal to noise ratio. This paper discusses the technique, illustrating the advantages compared to traditional systems and show real-time spectra for a set of molecules of interest to the mining industry. This paper also provided an analogy between this approach and that used in digital communications systems, and shows that this scheme is ideally suited to provide a network of sensors in hostile environments.CITATION:Harb, C C and Chalmers, D, 2015. Real-time methane detection – modern digital laser spectroscopy for hostile environments, in Proceedings The Australian Mine Ventilation Conference, pp 161–166 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Aug 31, 2015

By Werner Klein

The utilization of production facilities in an optimum way, with reliable due date fulfillment, reducing raw material and energy consumption, are challenges iron and steel companies are facing in their business every day. By using an APS system such goals can be achieved to increase the competiveness of iron and steel producers. A sophisticated APS supports the overall planning process by applying complex rules based on product and order mix, its production routings with corresponding processing and transport times and resource availability. Specific technological as well as steel grade and energy related constraints are also considered to meet company specific KPIs. A core feature of APS solution is to react online on deviations to plan during the production process. Deviations such as nonconformance of intermediate material attached to an order, sudden production delays, unavailability of important production resources, makes it necessary to update the production plan. In general the task of APS is to support the preferred work-to-order concept, by assigning work-orders to available production facilities along the product specific process route and generate optimized material sequences for critical work centers.

Aug 17, 2017

By A Harris, L Balzan

Accurate measurements of the moisture content of iron ore have increasing importance in modern mining operations. Knowledge of the moisture content allows process control actions to be carried out to ensure that the moisture is within prescribed limits, whether this is ensuring sufficient moisture to be above the dust extinction limit or that the moisture level is below the transportable moisture limit for sea shipments. Additionally, controlling moisture within desired limits can allow for greater throughput of iron ore by limiting the amount of water transported. There are a range of options available for operators wishing to obtain moisture data, though there are few demonstrated and proven devices that are able to provide real-time analysis of the full bed-depth of material. Scantech’s through-belt moisture systems are able to accurately analyse the full bed-depth of conveyed iron ore in real time using its unique microwave transmission technology, providing valuable data for operators. Recent advances in these systems have overcome errors associated with the highly attenuating nature of iron ore, particularly for large conveyor belts and deep ore. Furthermore, analysis of different ore mineralogy and its effect on the accuracy of moisture analysis has been examined and quantified. This paper discusses some of these recent results, demonstrating achievable accuracies in spite of changing ore mineralogy. Scope for future work is also briefly discussed, concluding the paper.CITATION:Balzan, L and Harris, A, 2015. Real-time through-belt moisture analysis for iron ore, in Proceedings Iron Ore 2015, pp 539–542 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Jul 13, 2015

By Charles Kocsis, Pedro Nascimento, W. Patrick Arnott, Samuel J. Taylor

Respirable crystalline silica (RCS) is an inhalation health hazard for mining and industrial work environments and must be monitored. We provide theoretical analysis of real-time measurements for determining RCS mass concentration without the use of filters by using photoacoustic spectroscopy. The suspended dust in the mine air can be continuously sampled by the photoacoustic instrument. A tunable quantum cascade laser is the light source, allowing for determination of interferences such as kaolinite, coal dust, and water vapor. The most useful spectral region is found to be between 11 and 13 μm. Absorption by water vapor, and, to a lesser extent, carbon dioxide, in this spectral region has gaps that allow for quantification of the aforementioned dust species as well as a convenient check on the calibration of the instrument. This work brings photoacoustic measurement of aerosol to the mid infrared range where spectrally dependent light absorption can be used to quantify dust composition and mass concentration.

Jul 31, 2022

By H. R. Zhang

In this paper two optional production processes are presented for reasonable utilization of primary sylvinite in Qinghai province, China. The two kinds of products as chlorine-free potash fertilizers; potassium sulphate or potassium magnesium sulphate can be obtained. In the course of potassium sulphate production, using primary sylvinite from Qinghai salt lake as raw material with impurities such as sodium chloride and insoluble in primary sylvinite, it must be prepared by flotation before being converted into potassium sulphate. This final product has found wide use in tobacco industry in China. However, in some cases Chinese farmers would rather buy the fertilizer of potassium magnesium sulphate than high quality of potassium sulphate. With flotation process which is a little different from above mentioned, the potassium magnesium sulphate fertilizer may be produced by washing one of the flotation concentrate presented as picromerite, while another concentrate containing potassium chloride is treated as by-product.

Jan 1, 2014

By Skinner. W.

"Introducing cutting-edge development work, which aims to simplify mineral processing flow-sheets, reduce costs and address environmental issues. Over the past four years Innovative Mineral Processing Technologies Pty. Ltd (IMPTEC) Australia have developed a Super-fine Crusher and a Planar Magnetic Separator which offer low cost, wet or dry alternatives to conventional grinding and conventional magnetic separation. Each of these machines has been successfully trialed at pilot scale and are now in the process of transitioning to commercial scale. This paper reports on the progress made in each of these fields. The potential scope for application of super-fine crushing technology as an alternative to grinding is potentially expansive and could include beneficiation of metalliferous ores, precious metal ore processing, hydrometallurgical processing, industrial minerals and coal processing, plastic fillers and ceramics processing as well as processing of cementitious slags and fly-ash. IMPTEC have recently achieved outstanding results at pilot scale with a dry combination of super-fine crushing and planar magnetic separation, which offers an alternative to the wet processing of magnetic iron ores. The dry combination has set new laboratory performance benchmarks when compared with the industry standard wet Davis Tube Tester. The test results have also established a strong evidence base showing that super-fine crushing achieves liberation of value minerals at coarser sizes when compared with grinding. The dry combination of super-fine crushing and planar magnetic separation also addresses environmental issues and completely eliminates grinding. An IMPTEC super-fine crusher is currently undergoing commercial trials, generating ultra-fine products from granulated lead blast furnace slag for use as cement substitutes. The performance of the super-fine crusher on this extreme duty highlights the potential benefits of super-fine crushing over the wide range of industries and applications where conventional grinding is employed.INTRODUCTION Present day mineral processing practices can become anchored in convention, where, inefficient methodologies are recognized and accepted as “best practice” or “industry standard”. Motivated by this challenge, IMPTEC has undertaken the development of radically different and improved methodologies in the fields of fine comminution and magnetic separation. Whilst, crushing is much less energy intensive and generally less capital and maintenance intensive than grinding, the technology has stalled due to the lack of crushing devices, which have the capacity to adapt to fine and ultra-fine duties. Grinding practice advances have been achieved through major increases in machine size and power. However, these advances are also accompanied by major escalations in capital, operating and maintenance costs. The economics of this strategy has become increasingly questionable. A typical example is the viability of low-grade magnetite beneficiation, which can hinge largely on the cost of grinding to fine and ultra-fine liberation sizes."

Jan 1, 2018

By A. R. Rule

As part of the Federal effort to help maintain an adequate supply of fertilizer minerals, the Bureau of Mines is conducting research to characterize complex, low-grade western phosphate rock and to develop methods for economic recovery of phosphate. The rock varies from soft, friable, altered phosphatic shale to hard, tightly cemented, unaltered phosphate rock. To supplement current beneficiation by sizing, a flotation procedure was devised that included depression of phosphate minerals with H2SiF6 and anionic flotation of carbonate minerals, followed immediately by cationic flotation of silicate minerals. Application of the procedure to several different ores resulted in phosphate concentrates that ranged from 28 to 31 pct P20S in grade and from 60 to 70 pct in phosphate recovery.

Jan 1, 1977

By AIME AIME

THE non-ferrous alloys have been placed in the same class with steel by metallurgical research on hardening, and hardenable alloys of all metals except zinc are now manufactured. The hardening of the non-ferrous alloys is accomplished by a process of heating, quenching and ageing. R. S. Dean, head of the research department of the Western Electric Co., told of the results of this research in 'a lecture on "Recent Advances in the Art and Science of Fabricating Metals," given before the Missouri Mining and Metallurgical Association on Jan. 24, 1929.

Jan 1, 1929