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By T J. McGavin

This paper examines the fire life systems implemented in two existing tunnels and discusses whether the standards used were appropriate. It focuses on the Terrace Tunnel as this upgrade and refurbishment is complete.The New Zealand Transport Agency (NZTA) manages six tunnels on the State Highway network with two of these built in the last seven years. The Terrace Tunnel, opened in 1978, was refurbished with modern fire life safety systems in 2010–2012. An interim upgrade of the Mt Victoria Tunnel, opened in 1931, was also carried out at this time.In present times, few existing tunnels have undergone significant upgrades and refurbishments. The Terrace Tunnel required: new power supplies, control buildings, lighting, wall panels and jet fans, a deluge system, emergency exit lights and way-finding lights, a public address (PA) system, a radio rebroadcast system, lane control sign (LCS) and variable message sign (VMS), an over-height detection system (OHD) and a new tunnel management system.In the absence of suitable guidelines, various standards were used to carry out the refurbishment. The Austroad Guide to Road Tunnels and AS4825 Tunnel Fire Safety, although designed for new tunnels and not specifically intended for existing tunnels, provided a framework. A multi-criteria assessment of risk (MCAT) was carried out to determine the systems to be provided.The Terrace Tunnel has perhaps set a benchmark for refurbishing existing tunnels as few projects of this type have been completed recently. This paper examines the process and the outcomes.CITATION:McGavin, T J, 2014. The refurbishment of the Terrace and Mt Victoria Tunnels, Wellington, New Zealand, in Proceedings 15th Australasian Tunnelling Conference 2014 , pp 87–94 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Sep 17, 2014

By M Ahmed

Reliable face support pressure is necessary for shield driven tunnels in cohesionless soils to prevent excessive ground movements. This paper presents experimental work on stability of a tunnel face using transparent soil models aiming to obtain magnitude of tunnel face minimum supporting pressure, failure pattern and extension of failed zone. A model tunnel was preinstalled in transparent soil which was supported at the face by means of water pressure. Tests were performed by reducing supporting pressure until collapse occurred. Model tests were sliced optically with laser sheet and images were captured for every decrement in tunnel supporting pressure. Later, these images were analysed by digital image correlation (DIC) and vector fi elds of incremental displacements were obtained. Values of minimum support pressures were given for different cover/diameter (C/D) ratios. Geometry of the failure zones depicted for different (C/D) values and appeared to be of chimney shape with a limited extension front of the face. A minimum support pressure was achieved with support pressures as low as 10 ± 1 per cent of the effective vertical stress at the tunnel axis. The stability of the tunnel face was related to the coefficient of active earth pressure with C/D ratio having a small effect on the magnitude of required pressure at collapse. In general, results of the study were in agreement with current knowledge of full-scale situations.

Mar 8, 2011

By M Dean, M Nehring, P Knights, M S. Kizil

Integrated continuous mining techniques such as fully mobile in-pit crusher and conveyor (FMIPCC) systems offer inherent labour, energy and environmental benefits to deep pit metalliferous mines. However, before such systems become commonplace, a number of barriers must be overcome.This paper outlines a number of commonly perceived barriers to FMIPCC application, together with a number of suggested solutions. The paper advances a design approach for specifying FMIPCC systems for deep pit metalliferous applications. A novel FMIPCC configuration is advanced using a hydraulic excavator in backhoe configuration. Because of the requirement to minimise belt extensions, a mine planning approach is presented based on a series of parallel and radial belt conveyor moves.The FMIPCC system does not fully replace truck-shovel systems. In the proposed mine plan, sinking is undertaken with truck-shovel systems using a series of box cuts, whereas pit ‘widening’ activities are accomplished via the FMIPCC system. Because of inherent differences in mine sequencing, the net present value derived from the FMIPCC mine will differ markedly from that derived from traditional, nested-pit, truck-shovel mining approaches. Therefore, any comparison of the FMIPCC and truck-shovel approaches must take into account radically different mine planning approaches.CITATION:Dean, M, Knights, P, Kizil, M S and Nehring, M, 2015. Selection and planning of fully mobile in-pit crusher and conveyor systems for deep open pit metalliferous applications, in Proceedings Third International Future Mining Conference, pp 219–226 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Nov 4, 2015

By H Bao, M Nehring, M Kizil, P Knights

The mining sector, a notably energy-intensive industry worldwide, is a major consumer of fossil fuels, leading to significant carbon emissions globally. The move towards electrification, coupled with advancements in battery technology, has redirected focus from traditional diesel-powered solutions to battery-powered alternatives. This paper introduces a novel mining haulage system, termed the Battery Trolley system, and examines its theoretical foundations, configurations, and operational processes. It offers a comprehensive analysis of the system’s characteristics and limitations. Through a hypothetical road simulation, the study analyses various battery mining trucks, calculating energy consumption based on force parameters and tailoring battery sizes to contemporary materials and technology. When assessing various battery truck alternatives—considering aspects such as battery size, effective payload, duty cycle, energy efficiency, productivity, and single-shift production—a range of performance outcomes and characters become apparent within the mining context. The findings indicate that Battery Trolley configurations, requiring smaller battery capacities, entail lesser compromises on effective payload. Consequently, these configurations achieve a higher duty cycle, reduced energy consumption per tonne, heightened productivity, and enhanced singleshift production capabilities compared to Battery-only alternatives. The comparative analysis of Battery Trolley with stationary charging (BT-S) and Battery Trolley – dynamic charging (BT-D) underlines that battery Trolley systems are capable of overcoming the challenges associated with battery size, thus successfully fulfilling the production demands of large truck applications in mining. This positions Battery Trolley systems as a more advantageous option for the decarbonisation of mining fleets, underscoring their potential in contributing to the sector’s sustainable evolution.

Sep 1, 2024

Societal influences, needs, and uses for recyclable materials are becoming increasingly important business and economic factors in the traditional natural resource companies. Several metals (such as steel, aluminium, zinc, lead and cadmium) are amenable ro recycle which eliminates solid waste generation and decreases the depletion of natural resources. In recent years, the non-ferrous industries have begun to recycle more materials and the next decade will see even larger recycle efforts. In addition to the traditonal recyclable materials, existing metallurgical plants are, or should be, able to handle and recycle materials viewed as 'hazardous'. Unfortunately, some national and regional regulations hinder, and in some cases prevent, the recycling of certain materials. Zinc Corporation of America (ZCA) is currently the largest producer of zinc metal in the USA and one of the world's largest producers of value-added zinc products. Over the last few years, ZCA has become one of the world's largest recyclers of zinc from various diverse materials. ZCA considers these recyclable materials as valuable 'land mines' that provide economic alternatives to the depletion of natural resources while serving society in the minimisation of solid waste disposal. Using the current production facilities of ZCA as a model, this paper overviews the recycling of zinc-bearing materials with special emphasis on: 1. the amenability for recycle within ZCA's pyrometallurgical and hydrometallurgical operations, 2. the quantities and economics of recycle, 3. the problems of recycling hindered by current national and regional regulations, 4. the concepts of total recycle rather than just recovering zinc while generating a modified solid waste, and 5. the motivators for recycling.

Jan 1, 1993

By R Hargreaves, C Morley

The authors often see problems on mine sites that are due to insufficient feedback between technical discipline silos as the realities on the ground fail to inform the models and plans used to drive resource exploitation. Resource modelling, reserve definition, life-of-mine planning, short-term mine planning and scheduling, mine operations and beneficiation operations are all processes that inform each other, but in many instances feedback between these processes occurs in an ad hoc way and only after problems have come to light.Universal reconciliation uses a multidisciplinary approach across the entire mining value chain to identify both opportunity and loss of value and to maximise operational performance. This paper will look at the operational effectiveness of universal reconciliation and will outline the important elements that make it successful, including how to map out the detail underpinning modelling, planning and execution processes. We do this by documenting the physical processes, logical work practices, organisational roles and responsibilities, data origin and quality, working assumptions and information management practices at an operation. The results quickly show how misinformation and assumption causes suboptimal decisions to be taken, where inefficiencies exist and what the opportunity is to remedy these issues.A universal reconciliation study opens up an opportunity for stakeholders to reassess how the operation should be run and how operational effectiveness should be measured. Clear envelopes for reconciliation become obvious and questions about the practicality and data quality can be addressed.A reconciliation code of practice is a key element of a successful universal reconciliation project and the authors outline the important aspects that will provide an operating model, showing the effectiveness of the resource and reserve modelling, the practicality of the mine planning and scheduling practices, how well the mine operations team are executing these schedules and how effective the processing area is given what it is fed. Most importantly, a system that allows operations time to react before the losses become systemic and that is based on identifying early warnings from hard data when these processes start to wobble is outlined. Finally as a case study, the revenue and cost benefits resulting from universal reconciliation diagnostic projects for nine mine sites is documented.CITATION:Hargreaves, R and Morley, C, 2014. Universal reconciliation – a multidisciplinary approach across the entire mining value chain to identify loss of value and maximise operational performance, in Proceedings Ninth International Mining Geology Conference 2014 , pp 411–420 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Aug 18, 2014

The purpose of this paper is to look at the costs of tailings disposal, and in particular the comparative costs of different disposal methods in different situations. Costs are often the hidden design parameter. We know that they are important but sometimes feel that it is not very respectable to talk about them in public. It is better from a public relations point of view for it to appear that the decision-making process is driven by environmental factors or best practice rather than looking for the cheapest option. But this presumes that the two are mutually exclusive and this need not be so. These issues are discussed later in the paper. It is also commonplace for the scale of the mining operation to change with time, typically involving increased throughput rates and total tonnage. New ideas in tailings disposal make their appearance. The regulatory attitude can change. Having made a decision about the disposal method at the time of original feasibility study and design it is easy to suppose that the mine is æstuck with itÆ. But that also need not necessarily be so. Careful costing of options may reveal that a switch in method could be cheaper in the long run. The designer will often tend to think in terms of initial earthworks and site development costs. Aspects of power consumption, labour, and periodic campaigns to move tailings pipelines and carry out embankment raises are either overlooked or not given the same emphasis. This can distort the evaluation process. It is productive to think in terms of dollars or cents per tonne as a basis of comparison, not just the total sums. Tailings disposal can cost from as little as 10 - 20 ó/t to over $1.00/t which is a big range. There may be good and unavoidable reasons for the high figure but there would need to be to justify being so far over the industry average. At the same time, mining and processing costs, at least for gold, are around $15 - 20/t. Viewed from this perspective tailings disposal will always be a relatively small component of the annual budget.

Jan 1, 2000

By Drury SA, Williams RD, Nind DC

The Airborne Thematic Mapper is an eleven channel digital scanner which acquires image data in the visible, near infra-red, short wave infra-red and thermal infra-red wave- lengths. A description of the system is presented which includes details of the operating wavelengths and performance parameters of the scanner. Consideration is also given to the aircraft installation requirements. During January 1984 the scanner surveyed the mineral rich areas of Leonora, Laverton and Kalgoorlie in Western Australia. This is a region of intense exploration activity for gold and base metals. Some 30,000 square kilometres were systematically surveyed in a period of ten days. This scanner was flown at 7,000 metres altitude giving a ground pixel size of 17.5 by 17.5 metres. The flight line spacing was 8 kilometres. The overall project took some thirty days from conception to completion. The planning and execution of this operation are described in detail. The resulting magnetic tapes provided 11 channels of digital image data over a 30,000 square kilometre area and a variety of image processing techniques were employed in order to capitalise fully on the results. The imagery provides a powerful tool for the geological mapping of the terrain. The data can also be used to monitor the environmental effects of mining operations.

Jan 1, 1986

By S S Solomons

In 1991 the uranium spot market price dropped to approximately US$7/Ib U308, a historical low in real terms and the short-term outlook for the industry in the next five years was grim. At this time the Ranger operation was producing uranium concentrate at its design capacity of approximately 3 000 tonnes/year. The loss of two major long-term contracts owing to price and reduced power utility demand due to excess inventories meant that the company could not match production to sales. Continuance at this production level would have resulted in a rapid buildup of product inventory and the tie-up of significant cash reserves. After analysing various options, an innovative operating strategy was devised such that production and sales were approximately balanced without a significant impact on the unit production cost or a long term effect on the plant or operation. A campaign mining/milling operation commenced and approximately 40 per cent of the workforce were retrenched. Multi-skilling of all employees was a critical aspect of ensuring a successful outcome. This paper examines the strategy and reports on the success of the operation two years after the restructuring exercise was effected in November 1991.

Jan 1, 1994

By J Harmse

This paper deals with the modernisation of the brakes on an electrically coupled Blair multi-rope hoist and covers the removal of the old calliper brakes and hydraulic control system, and its replacement with brake discs, disc braking units and hydraulic control systems. The paper covers the braking requirements of the hoist, which is made up of two electrically coupled single-drum hoists, together with the theory behind the choice of brakes and control systems supplied. The paper also covers the project logistics that were required in order to install and commission the new brakes and control systems with the minimum disruption to production on the only rock hoist on a major production shaft. Items covered include the modifications to civil works, pre-installation of bearing lubrication systems, brake discs and hydraulics and the interfacing of the new hydraulic control system to the existing electric control system. It had to be designed to be compatible to a new electric drive and control system due for installation at the end of 2005.

Jan 1, 2005

By S J. Loach

F-Series reconciliations are formal comparisons of estimates and measurements of ore quantity and quality made at pre-determined points along the mining value chain. F1 is the ratio of ‘Depleted Grade Control Ore/Depleted Long-term Model Ore’ and validates the models upon which Resource and Reserve statements are based. F2 is the ratio of ‘Produced Tonnes and Grade/Depleted Grade Control Ore (-) Changes in Pre-Crusher Stockpiles’ and validates that the ore tonnes and grade delineated in the pit are being accurately extracted and correctly delivered to the processing plant. These factors provide important corporate assurance for a mining company by providing quantitative feedback on model-predicted tonnes and block grade estimates. Since 2009, BHPs Western Australian Iron Ore F-Series reconciliations have been calculated in a single, centralised sequel-server database. This software routinely collates data regarding mineral resource block model depletions, grade control model depletions, pre-crusher stockpile inventories and production tonnes and grade measurements and then calculates F-Series factors for both tonnes and product quality. This paper will present case studies where reconciliation factors were used to identify improvement opportunities leading to projects that improved our models and subsequent forecasts of production tonnes and quality. In addition, it will show how reconciliation factors are tools that monitor control during periods of rapid change and provide feedback on the effectiveness of improvement projects.

Sep 18, 2023

With the advent of the mini computer and the relational database project management has experienced a new lease of life. The project manager no longer has to wait days for his reports, and he doesn't have to thumb through a foot of four part stationery to find that one line of information. The new techniques bring characteristics that are music to the ear of the project team giving them a better chance of bringing the projects in on time and within budget.

Jan 1, 1983

By DV Boger

Rheology is the science which deals with the deformation and flow of matter. Thus nccology is concerned with the flow of any material. The mining industry is concerned with digging things out of the ground, extracting the good stuff and throwing away the had stuff. In the upgrading processes associated with mining, is mineral processing, wet techniques are used where the primary material being handled is a particulate fluid, ie a suspension. After the processing operation, with the concentrates extracted, what is left behind generally is a wet material in suspension form, which may or may not contain reagents harmful to the environment. The amount of waste generated in any of the mining processes is large, in fact, the mining industry is the largest generator of solid waste in Australia. In order to minimise the waste generated within the industry it has become of interest to handle the particulate fluid wastes, or suspensions, at high concentrations, thus removing water and some of the reagents which may be harmful to the environment. The resultant highly concentrated suspension is a non-Newtonian hold Rheology deals with the flow of non-Newtonian fluids; therefore i combination of rheological understanding of high density suspensions. ill conjunction with an understanding of the environmental problems hero' faced by the mining industry, can and has led to improved methods of waste disposal in the industry, ie waste minimisation. This paper describes the progress that has been made in the development of dry disposal technology in the mining and minerals industry in Australia.

Jan 1, 1998

By Kentwell D. J, Cusak C. J, Harvey-Kelly F. E L, M D. Goodz

The Morning Star Gold Mine presents an example of a prolific operation with considerable historical records, mine workings, drill hole logs and countless plans from greater than 20 adjacent mines which have now been consolidated to form the current project. Implementation of 3D computer modelling in the planning stages has provided an additional tool to integrate and refine geological models as a guide to some exploration strategies. It has allowed for a re- interpretation of the host rock units, dimensional constraints, new exploration extensions and provisional resource modelling. The initial consideration of this project was to integrate 135 years of mining history into a single database. Each historic mining area had an unrelated mine grid, often established parallel to the long axis of their main stopes; some were based on magnetic or true north. Survey plans were in chain, imperial or metric units. Through the manipulation and rotation of old grids, previously unrelated mine workings began to form continuous mineralised zones, with unmined portions still remaining in between the existing development. Furthermore the current drillhole database of >433 holes showed numerous confirmatory intersections of new mineralisation. A series of tiered tables were created within a relational database to derive guidelines for assessing data to attribute a Mineral Prospectivity Value [MPV] based on key indicators of mineralisation. Indicator logging now forms the basis of geological descriptions.

Jan 1, 1997

By H Hy÷tyniemi

In this paper multivariate data analysis performed on a new multi-camera system implemented to zinc flotation circuit of PyhSsalmi mine is presented. Image-analysis-based system was developed to take advantage of the commonly known fact that the changes in the flotation process are reflected to the visual appearance of the froth surface. Most often the changes are seen first in the froth and later in other process measurements. The image variables are already utilised in closed loop control and considerable savings are achieved with the current setting, but the results coming from the separate cells are used individually. This is clearly not the optimal way to take advantage of the many measurements coming from different locations of the process. A better approach would be for example to use the measurements coming from the early stages of the process to predict the behaviour (or improve the quality of measurements) in the later stages. The methods described in this paper are aimed to improving the situation in this sense.

Jan 1, 2005

By D Sibthorpe

The employment of a tunnel boring machine (TBM) is the default delivery method for the realisation of traffic, utility and primary resource underground space worldwide, with hundreds of kilometres completed safely each year. This is not yet the case for the mining sector in Australia, specifically underground coal mining. The safety advantages of TBM delivery when compared to New Austrian Tunnelling Method (NATM) delivery, or that of drill and blast, remains unrealised.With coal access drifts ranging between 1000?m and 3000?m in length, the construction of these facilities using TBMs could be done in a fraction of the time when compared to current practice. TBM world records currently stand at 435?m/week or 1600?m/month for the 7.0?m to 10.0?m range. Resource owners and developers should embrace the opportunity to deliver access to their orebodies in only a few months, excluding machine assembly and disassembly time.There are challenges in utilising TBMs for construction of Coal access drifts, such as; TBMs generally being bespoke design, maximising capital efficiency for drift development, and geotechnical variances between projects. This paper explores safer and more cost-effective options. This paper also provides detail of how the configuration within a completed drift could be optimised to ensure all site specific needs are met with regard to future use of the drift. The paper also includes descriptions of the engineering solutions that are available for physical and atmospheric challenges specific to coal drift applications and how the TBM manufactures are adapting to the regulatory requirements are also covered.Due to downward pressure on high cost bases and ever increasing safety requirements the popularity of TBMs in the Australian mining sector can be expected to increase and eventually become the default delivery method for coal drift construction, building them cheaper, faster and?safer.CITATION:Sibthorpe, D, 2014. Coal drift construction by tunnel boring machine, in Proceedings 15th Australasian Tunnelling Conference 2014 , pp 671–682 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Sep 17, 2014

Olympic Dam Operation is located in the Stuart Shelf Geological Province approximately 520 km north-north-west of Adelaide in South Australia. It is estimated to be one of the worldÆs top five copper orebodies by size and the biggest single occurrence of uranium. The deposit was discovered by Western Mining Corporation in 1975. Exploration was based on a conceptual model for the formation of sediment hosted copper deposits together with gravity and magnetic anomalies.The capital cost of the current expansion is estimated to be A$ 1.64 billion. The underground expansion includes a total of 36 km of lateral development, a railway haulage system delivering ore from a series of ore passes to a new crusher station and a significant increase in ventilation capacity and mine services.In the current underground expansion the mining method will essentially remain unchanged. The ore handling system will incorporate some recent advances in technology, improving efficiency and safety standards.Major infrastructure excavations are designed by a team of engineers attached to the Olympic Dam Expansion Project and a number of consulting groups. Once the expansion is fully completed it is expected to increase the current annual underground production level from 3.4 Mt to 9.0 Mt of ore by the year 2000. Mine design engineers working for the Olympic Dam Operation have recently completed a three year final design plan to achieve this target.Access to the existing mine is through the decline and Whenan shaft. The Whenan shaft was originally sunk as an exploration access and later upgraded for hoisting. The 4 km long service decline connecting to the Whenan shaft was later constructed to accommodate the increase in service demand. The Robinson and Sir Lindsay Clark shafts were developed at later stages to cater for the hoisting during and following the expansion lead up.

Jan 1, 1999

By R Justa Cámara, J María Bertrán Llop

"The need for suitable geotechnical characterisation of the rock mass for underground construction is evident. The enlargement project of Railways of the Generalitat of Catalunya (FGC) in Sabadell is a patent example.In general, it is uncommon to encounter problems in the identification and characterisation of certain relevant weak rock formations, which affect project designs. However, all materials should be properly studied, as mischaracterisation can lead to a suboptimal design, resulting in construction problems during the course of the work.Good quality rock is generally not difficult to characterise, but this is not the case for Quaternary or Tertiary cemented soils. Geotechnical investigations based on boreholes do not provide enough information because samples are often badly damaged during the drilling process, if appropriate techniques are not taken. The samples can be altered and may not be representative of the in situ?material.The design and construction of the extension to the FGC line in Sabadell highlighted the importance of the characterisation of Quaternary and Tertiary cemented soils, in particular their rigidity and its underestimation. The twin tunnel project had a total length of 5.1 km, including five stations with 3.5 km excavated by tunnel boring machine (TBM). The remaining 1.6 km was constructed using cut and cover methods. The TBM portion of the tunnel had a bored diameter of 6.83 m with an internal radius of 3 m and 0.25 m thick precast concrete segments. Much of the tunnel alignment passed through and was affected by the presence of certain stiff layers of Quaternary cohesive materials.In this paper the TBM challenges faced will be discussed in detail. In particular:  TBM excavation rate reductions and overheating problems due to the required excessive thrust and torque floating problems in the lining due to nil earth pressure over the rings and the development of an improved, controlled setting time mortar to address this issue block-in and block-out methodology for each station, in some cases with internal blocks to prevent earth pressure drops and soil scouring the relevance of performing simpler solutions, for example, hyperbaric interventions to examine the cutter wheel tools when it has been shown that interventions under atmospheric conditions were equally feasible the implementation of conventional bivalve machines as standard procedure for excavation of diaphragm walls in stations, where in fact, hydrocutter machines or pile boring machines may have been required, given the mechanical characteristics of the materials to be dug out.CITATION:Justa Cámara, R and María Bertrán Llop, J, 2014. Underground extension of the FGC line in Sabadell through cemented soils, in Proceedings 15th Australasian Tunnelling Conference 2014, pp 161–170 (The Australasian Institute of Mining and Metallurgy: Melbourne)."

Sep 17, 2014

Responsibility for the administration of mineral resources is divided between federal and provincial governments. The paper traces the evolution of mineral policies at both levels of government, from the end of World War II to the present. In the immediate post-World War II years, the emphasis was on supplying the raw material needs of a rapidly growing world economy. Policies favouring growth and development of the Canadian mining industry were instituted during this period. Two decades of uninterrupted expansion (the 1950s and 1960s) ensued. The decade of the 1970s was a turbulent one for Canadian mineral producers. Governments intervened more substantially than ever before. Moreover, the industry suffered from an intense period of competition for resource revenues by the two levels of government. At the same time, far reaching changes were taking place in the structure of world mineral markets. To date in the 1980s, the mineral industry has, perforce, adapted to existing mineral market structures. Mineral policies, too, have shown signs of adapting to the needs of the mineral industry. Whether the resulting mix of policies will permit the revitalization of the Canadian mining sector remains to be seen.

Jan 1, 1986

The invitation to speak today was in the form of a single sentence instruction: How does your company run and how do you communicate from top to bottom? It looks like I'll have to let you into our little secret. The team at Croesus know what works for us but we've never talked about it with others - least of all presented it at a conference such as this. In fact we tend to avoid the jargon normally associated with Best Practice or TQM, however in our own way, each of our staff are 100 per cent loyal to our company's aim to maintain and strengthen our commercial success. Just how we achieve this at Croesus is the subject of this presentation today, but first a little history. My dear old grandfather arrived in Kalgoorlie, as a mining engineer 100 years ago. Do you think he would have chuckled if someone suggested to him that a hundred years later we would just be starting to understand Kalgoorlie's geological mysteries? Well, here we are 100 years later and Croesus Mining is fortunate to be part of a generation now realising the true potential of Kalgoorlie's Goldfields. This provides us with a very fertile field in which to sow the seeds we can obtain from the World's Best Practice in Mining and Processing. With each new mineral deposit being discovered, old theories are being exploded. Each new deposit has a personality of its own, leading to some belated pioneering theories of where to drill next, and how to reduce internal costs so that we can win the war against constantly increasing external costs. What we have now and what the old timers didn't have is a huge database of geological input spanning several gold booms and a couple of nickel booms. My only interest in history is to pick up the points that may help us for our future. This is what we are doing in our company which is something of a David, in the David to Goliath range of mining companies in Australia. As a humbling thought; of the 115 164 tonnes of gold that the world's mines have produced throughout history, four tonnes have been produced by Croesus Mining. That's equivalent to 0.003 per cent of the total world's gold production. In the past financial year we achieved a dividend yield of five per cent. To put this into perspective, that's over twice the dividend yield of BHP, Australia's largest company. As we are somewhat less known than BHP, let me spend a few moments giving some particulars of our company's background.

Jan 1, 1995