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By A A. Ndiaye, A Galli

In a companion paper on current hedging practices in the mining industry (Armstrong et al, 2009) we showed that contrary to popular belief, mining groups are still using financial derivatives to hedge against foreign exchange risk and interest rate risk, and more recently against adverse changes in energy prices, notably the oil price. This paper presents a case study on a hypothetical gold mine to illustrate the impact that hedging policies could have on its profitability by reducing the downside risk due to adverse changes in the exchange rate and increases in fuel prices. The characteristics of the hypothetical mine have been set to reproduce those of a real gold deposit, the Kisladag mine that is currently being exploited by open pit methods in Turkey. This mine was selected because its feasibility study was available to the public. Geostatistical simulations are used to reproduce the inherent uncertainty on the recoverable reserves û stochastic simulations are used to generate the variability of the other three key sources of uncertainty: the gold price, the cost of energy and the exchange rate. A simple strategy based on straightforward vanilla options (puts and calls) was developed for hedging the last two risks, on the assumption that the company sells its production at the prevailing spot price.

Jan 1, 2009

Detailed petrographic analyses of coal seams from the Newcastle, Illawarra, and Lithgow Coal Measures were made for a number of localities for each of twelve seams. From these analyses characteristic standardprofiles were derived for each seam. Two broad types of profile were found; one in which vitrite-poor and vitrite-rich layers alternate, and another in which there is a steady decrease in vitrite from the base to the top of the seam. From comparison of the petrographic profiles it was concluded that the Great Northern Seam in the Northern Coalfield is a possible equivalent to the BulIi in the Southern; and likewise the Fassifern to the Balgowni...

Jan 1, 1967

By McLennan R. G

The principle of personal safety is as old as the human race. The application of this principle to industry is of much more recent origin, and may be said to be almost exclusively the product of the twentieth century. The enormous strides in technique and production mode prior to the turn of the century had been achieved without any real regard for the crippled human by-products of that expansive era. It was accepted that. accidents were inevitable and formed part of the price that must be paid for production. It was not until 1885 that the first Workmen's Compensation Act was passed in Germany making the employer financially liable for injuries suffered on his plant.With awakening social conscience came the first organised efforts to reduce accidents in industry. Early 19th century literature dealing with the development of powerdriven machinery and the growth of industry in Europe contains many references to the unsafe and unhealthy working conditions that accompanied the change-over from the home workshop to the industrial plant. By the year 1900, there were in Germany - and a little later in England governmental regulations dealing with the guarding of hazardous machinery. American industry, now the acknowledged leader in industrial safety, admits freely that when an organised safety movement commenced in that country, there was already a considerable amount of information available to them from European experience. The steel industry was well to the fore in this work, and in...

Jan 1, 1957

By L R. Marshall, M J. Rubenach, T G. Blenkinsop, J S. Cleverley

The source and transport regions of fluidised (transported) breccias outcrop in the Cloncurry Fe-oxide-Cu-Au district, providing insights into the origins of other fluidised magmatic-hydrothermal breccias such as kimberlites. Discordant dikes and pipes with rounded clasts of metasedimentary calc-silicate rocks and minor felsic and mafic intrusions extend several kilometres upwards and outwards from the contact aureole of the 1530 Ma Williams Batholith into overlying schists and amphibolites. The brecciation initiated at depths >10 km and may have resulted in surface breaching. We used analytical equations for particle transport to estimate clast velocities (eÆ 20 ms-1), approaching volcanic ejecta rates (up to 80 ms-1). The wide range of CO2 fluid inclusion densities (up to 150 MPa), the localisation of the base of the breccias in contact aureoles, and the scale and discordancy of the bodies suggests the breccia transport process was triggered by an abrupt release of overpressured fluid. At these depths, such extreme behaviour may have been achieved by release of dissolved fluids from crystallising magma, in combination with a strongly fractured and fluid-laden source, sitting under a strong, low permeability barrier, and such parameters may be analogous to the asthenosphere/lithosphere boundary in the case of kimberlite initiation. The relationship of these breccias to the Ernest Henry iron-oxide-Cu-Au deposit suggests they may have been either fertile or æfailedÆ orebody feeders.

Jan 1, 2005

Large scale fluid extraction from the Latrobe Group in the Gippsland Basin is occurring as a result of offshore petroleum production and coal mine dewatering in the Latrobe Valley. Groundwater extraction in the Latrobe Valley exceeds recharge and is causing an expanding area of declining hydraulic head in the Latrobe Group, and regional land subsidence which is well documented. Recently the government water sector completed the installation of a network of Latrobe Group monitoring bores in the remainder of the onshore part of the Gippsland Basin. The bores situated along the coastal area show a steady decline in hydraulic head of about 1 m/year which can be attributed mainly to petroleum production.

Jan 1, 1992

By Kumar A, Mishra N. C

For each tonne of chromite ore mined in Sukinda, approximately ten tonnes of fine overburden material is generated. The overburden typically contains about 30 - 60 per cent Fe2O3, 0.3 - 1.1 per cent Ni, four to nine per cent Cr2O3 and 0.04 - 0.2 per cent cobalt and is being discarded leading to loss of valuable metals and creating environmental pollution. In order to take the advantage of presence of iron, nickel and chromium, the present studies advocate the utilisation of nickel lateritic chromite overburden for production of Ni bearing pig iron through blast furnace extracting maximum iron and nickel from the chromite overburden. The present paper deals mainly with the beneficiation of chromite overburden, sintering characteristics and thermodynamic studies. The beneficiation study shows that a beneficiated concentrate having Fe - 50 per cent and Ni -- 1.1 per cent can be achieved from chromite overburden having Fe - 30 per cent and Ni -- 0.7 per cent. Sintering studies have been carried out with bed height of 300 and 450 mm at a suction of 600 and 900 WG respectively. The results reveal that good quality sinter can be produced from chromite overburden concentrate with a basicity of about 1.0 and coke breeze consumption rate about 16 per cent. In all the experiments, Tumbler Index, Abrasion Index and Shatter Index was found to be in the range of 65 - 70, 4.5 - 5.5 and 85 - 90 respectively. The other parameters namely softening temperature, melt down temperature, reduction degradation test and relative reducibility have also been determined. A thermodynamic analysis has also been carried out to make a technological assessment of the process for the production of alloyed pig iron from chromite overburden in blast furnace which shows that it is possible to produce nickel bearing pig iron in blast furnace using the sinter up to 80 per cent. Techno-economic analysis reveals that this route will yield a substantial profit even after accounting for cost of beneficiation, extra coke, raw materials and extra slag produced.

Jan 1, 1999

The Canada Centre for Remote Sensing (CCRS) has developed an airborne sensor, the SWIR Full Spectrum Imager (SFSI) which detects in the short wave infrared range of the solar spectrum from 1220 to 2420 nm. In June of 1995, a demonstration flight was undertaken in the state of Nevada with the support of the companies listed above. The focus of the flight was to collect image data over well known mineral deposits with the objective of evaluating the applicability of this sensor to alteration mineral mapping. Some of the Nevada sites chosen include Cuprite and Goldfield, volcanic hosted acid sulfate systems; Yerington, a structurally complex porphyry copper deposit; and Virginia City, a quartz-sericite-pyrite vein system with advanced argillic pods. Ground spectral data was collected with the PIMA-II spectrometer. Solar reflectance calibration was done by Desert Research Institute personnel at Virginia City and Cuprite. This paper will discuss the configuration of the sensor and present image and ground data for Goldfield and Virginia City.

Jan 1, 1995

AMONG the multifarious duties which fall to the lot of a mining engineer it is safe to say that there is none of more fundamental importance than the study of the ore-deposits on which it is thefunction of his profession to operate, inasmuch as the whole business of mining in all its complicated ramifications rests first of all on the existence of something to mine. -When the ore supplies in a mine fail, the enterprise comes to- an end, and nothing, therefore, is of more importance than a thorough understanding of the conditions under which the ore occurs, so that everything possible may be done to open up the mines well ahead of their immediate output requirements, and develop new ore reserves to take the place of that which is raised from day to day. The great aim which the mining engineer has to keep before him in his study of his ore-deposits is to obtain such a knowledge of them that he will have sound grounds for prediction as to how they will behave in parts of the mines which are well beyond the point of the pick. It is on his judgment of probabilities in this respect that mining operations are entered upon, and the more thorough his knowledge of all the factors affecting the problem, the more is the judgmentlikely to be a sound one. The test of any theory is experimental confirmation of the truth of predictions based upon it, and our aim should be to try to perfect our knowledge of the rules governing deposition of ores, so that our theories may prove themselves equal to the task of successful prediction.

Jan 1, 1909

A rotating disc geometry was used to provide a uniformly accessible surface for a kinetic study of the cementation of cadmium, lead, and silver from dilute aqueous solutions. This work is an extension of studies carried out on the Cu-Zn and Cu-Fe systems for which the reaction rate was found to be completely solution phase mass transfer controlled.When the amount of material deposited was greater than 0·2 to 0·4 mg/cm2 there was an apparent enhancement in rate which is attributed to the formation of a roughened deposit. This same phenomenon was observed in the Cu-Zn and Cu-Fe systems. Again, the rate of reaction of each system investigated was found to be solution-phase mass transfer controlled.

Jan 1, 1971

The following paper on the development of processes for the treatment of crude ore, accumulated dumps of tailing and slime at Broken Hill, has been prepared by a committee of the Broken Hill Branch of the Australasian Institute of Mining and Metallurgy, with the object of recording, in chronological order, the developments of the various processes which have led up to the metallurgical practice of the present day.

Jan 1, 1930

By Warren L. J, Horsley R. R, Meagher L

Mineral concentrators often use process water that is very saline and/or hard. In this paper the effect of increasing concentrations of sodium chloride and calcium chloride on the rheological properties of 70 wt% quartz suspensions (d5o - 10.6 ¦m) is reported. The apparent viscosity at 100 s t in 5 mol dm -3 sodium chloride solutions (approx. 300,000 ppm) was nearly 500 times the viscosity of water without salt or particles present. Part of the increase in viscosity is caused by aggregation (coagulation) of the suspension.

Jan 1, 1989

By Richards S. M

The abundances and abundance relationships of lead, zinc, copper and silver in the major sulphide lenses at Broken Hill are examined, and their possible geochemical significance discussed.When expressed as atoms per cent, zinc is the most abundant base metal throughout the whole .group of orebodies, the highest average lead: zinc ratio (No. 2 lens) being about 0·45, the lowest (No. 1 lensZinc Lode group) being in the 0·12-0 ·14 range. Lead and silver are clearly higher in the lower two orebodies, but the abundance of zinc shows no apparent relationship with stratigraphical position. Among the base metals copper is conspicuously low and remarkably uniform, a feature noted in other conformable orebodies.Although, as has been recognised for many years, abundances of silver and lead, and lead and zinc, are sympathetically related, correlation within the pairs is variable and generally of low degree. Silver and lead show distinctly the better correlation, particularly in No. 3 lens. On the basis of lead: zinc ratios, No. 2' and No. 3· lenses, on the one hand, and the No. 1 lenses, Rhodonitic and Siliceous Zinc Lodes on the other, constitute two groups. However on the basis of silver : lead ratios, No. 3 lens stands alone, No. 2 lens showing clear affinities with the higher layers. Ternary relationships between copper-zinc-Iead and silver-zinc-Iead emphasize the very close constitutional relationship between the No. 1 lenses and the two "zinc lodes".The possible implications of these relationships are then discussed in the light of the' two principal theories-hydrothermal replacement or chemical sedimentation-held for the formation of the Broken Hill ores. It is pointed out that the ratios of the four metals in the ores are rather different from those found in most igneous and sedimentary rocks, and in seawater. For 'example, whereas copper and zinc are present in almost equal amounts in most terrestrial materials, copper in the ores is only about one-hundredth of the amount of zinc. Lead has increased somewhat, but the ratio of silver to lead has fallen; in spite of its recognition as a source of silver, the Broken Hill lode is impoverished in silver with respect to lead as compared with most common terrestrial materials.No solutions are offered to these prob'lems of abundance. Rather it has been the aim of the work to provide data, and to demonstrate the...

Jan 1, 1961

The ore is very 'refractory. It consists essentially of arsenical pyrites, iron pyrites, zinc blende, galena, antimony as sulphide and probably, in combination with galena, as Jamesonite, magnesium, and aluminium silicates with quartz. Some of the oxidized ore, of which there is very little, has a very interesting composition. A specimen shown to me by the ,general.manager, Mr. F. B. Stephens, consisted of hydrated arseniate of iron, orpiment, pyromorphite, lead oxide, with magnesium silicates and quartz. The ore found in the mine with a composition similar to this specimen was valued for gold contents at 60 oz. per ton. This ore is found as a small leader, which runs parallel to the main ore body, at intervals cutting through it.The ore is conveyed from the mine to the reduction works by means of a double road tram line. The mine is situated about rooo feet above the plant on a hill. The grade is so great (about I in 2) that the loaded trucks coming down are able to pullthe empty ones up, thus obviating the necessity of motive power for haulage. All that is necessary is two large grooved pulleys, fixed at the summit of the hilI, and provided with a rope-break for steadying the speed of the trucks down the hilI.

Jan 1, 1903

By Uusna S, Canning R. G, Goodheart B. A

The development of a process for removal of iron oxides from ilmenite is outlined whereby the Ti02 content of Western Australian ilmenites can be upgraded from 55 to approximately 90 per cent. In the first stage, the iron oxides are reduced with solid carbon (coal) to metallic iron. Experimental reductions were carried out in crucibles, a fluidized bed, and a small pilot plant rotary kiln. The reduced ilmenite was then agitated in aerated water, in the presenceof catalysts, so that the iron "rusted" away from the ilmenite grains and the precipitated iron oxide was easily separable by decantation.The influence of variables on the rates of reduction and oxidation are discussed. The oxidation rate was examined for both the physical oxygen transfer characteristics and electrochemically by reference to Pourbaix diagrams, in which redox potential is plotted against solution pH.The upgraded ilmenite is expected to be an attractive material for pigment manufacture, and the iron oxide has prospects of being a marketable by-product. The process may possibly be applied to other ores.INTRODUCTIONThere are extensive deposits of ilmenitic beach sands, Le. iron titanium oxides of the general formula FeTi03, 'occurring in the lower south-west portion of Western Australia, and although there has been considerable commercial development, local producers face keen competition on a freight-cost basis. Thus the removal of the unwanted iron oxide constituent would have the double advantage of reducing the freight differential and presenting a more attractivematerial to pigment manufacturers.

Jan 1, 1965

By W B. Edgar, I M. Platten, C A. J Towsey, B W. Cuffley

The evaluation of historical goldfields has been common over the past 15 years, reflecting changing economic conditions, improvements in knowledge and technology and lack of greenfield sites. Many goldfields comprise narrow gold-quartz veins, which are structurally complex with an irregular distribution of gold, have variable geometry and architecture and display late deformational effects. The study of historical mine records can be an important tool during early and advanced project evaluation, since it contributes to understanding the orebody, exploration target size and setting expectations. Mine records include documents such as plans, sections, reports, news cuttings, production tabulations, etc. A major advantage for the modern explorer is the capability of computer modelling to display this data in 3D. Historical records can give the explorer substantial information on various deposit characteristics, not least grade and geological continuity, geometry and architecture, mineralogy, metallurgical properties, bulk density and ground conditions. From an evaluation perspective, historical records can be used to support a Mineral Resource estimate, though its application will depend upon the quality and quantity of the data and judgement of the Competent Person. Effectively used, historical records can reduce geological uncertainty and focus evaluation efforts û thus reducing project risk.

Jan 1, 2009

By P J. Mienie

The Palaeo-Proterozoic Transvaal Supergroup in the Northern Cape Province of South Africa is host to the largest known resources of high-grade hematite ore on the Southern African continent. These ores are currently being exploited at Sishen and Beeshoek. Hematite occurances on the Sishen South exploration project (some 65 km south of Sishen mine), are at present the focus of an intensive investigation. At both the Sishen and Sishen South deposits, mineralisation is found within lithologies belonging to the Transvaal and Oliphantshoek Supergroups. The Transvaal Supergroup comprises a basal, carbonate platform sequence (the Campbell Rand Subgroup) overlain by thick units of banded iron-formation belonging to the Asbestos Hills Subgroup. The Asbestos Hills Subgroup is unconformably overlain by sedimentary rocks of the Gamagara Subgroup. The latter Subgroup has been correlated with the lowermost unit of the Oliphantshoek Supergroup. The Sishen and Sishen South deposits are located close to the western margin of the Kaapvaal craton and have been subjected to intensive, structural deformation. Both localities have undergone folding, faulting and thrusting. Early regional tectonism (2400 - 1700 Ma) played a critical role in the genesis and preservation of the ores from younger erosive events. At both deposits, four similar iron ore occurrences have been recognised. The ores have developed in specific depositional environments and hence display unique physical, chemical and metallurgical properties:The bulk of the high-grade hematite comprises laminated and massive ores, which are found in the upper parts of the Asbestos Hills Subgroup. The laminated and massive ores are best developed in basinal and pseudo-graben structures. Collapse breccia ores of medium- and lower-grade are preserved within deep palaeosinkholes. The sinkholes have developed within the dolomites of the Campbellrand Subgroup. Lower-grade conglomeratic and gritty ores constitute the remainder of the deposits. These ores are found in the overlying clastic succession of conglomerates, shales and quartzites belonging to the Gamagara Subgroup. Although, there are many stratigraphic and lithological similarities between the Sishen and Sishen South deposits, there are also important differences, which will impact on the profitable exploitation of the ores. The most striking contrast between the deposits is their size and geometry. Sishen mine is a single pit operation with an opencast mineable reserve of 895 Mt. The Sishen orebody is thicker, more continous and significantly larger than the Sishen South deposit. The Sishen South deposit has a potential opencast reserve of 228 Mt. It comprises a number of small and narrow, isolated orebodies, spread over an area of ¦64 km2 . There is a significant difference in grade between the deposits. On average the orebodies of the Sishen South deposit have a higher iron content (+0.25 per cent Fe), less potassium (- 0.090 per cent K2O) and less phosphorus (-0.019 per cent P). The Sishen South deposit has less interbedded shale in the laminated and massive ores. The footwall of these high-grade ores is a light-density, intrusive sill, compared to banded iron-formation at Sishen. With a proposed heavy-medium separation plant at Sishen South, the impact of dilution on product grades is expected to be less than that currently experienced at Sishen.

Jan 1, 2002

By Zajber A, Kulchen R, Letzel D, Weyer A, Schwellenbach J

The search for modem casting plant concepts today focuses more and more on the harmonisation and optimisation of overall concept lines to obtain a continuous quality control and reduce the cost of production (Figure 1). Fin I As far as continuous casting plant concepts are concerned, this specifically requires an optimal adaptation and flexible operation when converting liquid steel into a directly processable product without any in-between treatment. Continuous casters need to fully satisfy the requirements of both the upstream steelmaking facilities as well as the downstream rolling facilities.

Jan 1, 1999

By Silver EA

The Finisterre Range on the north coast of Papua New Guinea is the uplifted forearc riagio.n. of a modern arc-continent collision. The core of the range is composed of the P- nisterre Volcanics, an Oligocene''-arc terrane. The southern flank of the range consists of a clastic sedimentary sequence which is an uplifted accretionary wedge and collision complex. This clastic sequence can be subdivided into three distinct units. To the south of aiid structurally below the Finisterre Valcanics are the Mebu beds, an Oligocene- $arly Miocene sequence of volcanolithic turbidites. The Erap Structural Complex is south of, and structurally below the Mebu 43eds. , It consists of three subunits; the 3rly Pliocene micaceous turbidites of the Sukurum unit, contemporaneous pillow basalts AF{ the Basalt unit, and Late Pliocene to Pleistocene volcanolithic turbidites of the -Nariawang unit. The Quaternary Leron Formation, a fluvial to shallow marine 'clastic unit, is the southernmdst. and structurally lowest unit of the clastic -sequence The Finisterre Range is dominated by a fold-and-thrust belt with most thrusts "dipping steeply N. Melange fabric _ is developed in the vicinity of major thrusts. "ffle thrust belt strikes NW, oblique to the regional convergence direction, but no strike-slip motion is observed along NW striking faults.

Jan 1, 1991

This paper deals with the application of table flotation to two unusual mineral dressing problems. Both problems involved the removal of interfering minerals at sizes too coarse to normal froth flotation.The first problem was the removal of arsenical minerals from Broken Hill gravity concentrates without further size reduction. Table flotation without grinding of the original concentrates gave almost complete rejection of the arsenic from the concentrates. A typical test result was a reduction of arsenic in jig concentrate from 0.75% arsenic to 0.007% arsenic.The second problem was to develop a method to produce a high grade calcium carbonate concentrate from coastal dune sands containing about 10% silica and about 80% calcium carbonate. The sands were about 30 mesh British Standard Screen (B.S.S.), and for economic and other reasons it was stipulated that the separation be made without grinding. Again, table flotation gave excellent results. A concentrate was produced containing 99.62% acid soluble material, representing a recovery of 98.69% of the calcium carbonate in the feed with a rejection of 96.44% of the silica.The investigations' were carried out at the Kalgoorlie Metallurgical Laboratory, under the Department of Mines...

Jan 1, 1954

A good deal of experimental work has been done from time to time on the application of compressed air to the elevation of wet pulp. On account of the flat nature of most of our mill sites elevation of the pulp has to be provided for, and the various methods in vogue show considerable loss of time, in the replaceing of wearing parts. During the last two years the writer has carried out a great many experiments with a view of devising an elevator that will give continuous work with a minimum of wear.The results do not show a high efficiency for the power employed, but the lift is continuous in operation, very cheaply installed, and possesses no wearing parts. The lift was tried working in a bore hole of 8 in. diameter, but in many cases it is more convenient to sink a small well for the purpose. The result to date showed that the most efficiency was obtained when the depth of the wellwas not less than the height of the lift required. The pressure of air required in pounds per square inch was (approximately) half the number of feet to be lifted.In the majority of cases the lift required varied between 20 ft. and 50 ft. and the air pressure required between 10 lbs. and 25 lhs. per square inch. In most existing installations the air compressors in use were delivering air to the receivers at about four times that pressure, and when air so compressed was expanded to perform its work at a reduced pressure, it was apparent that the power exerted in origInally compressing the air above the working pressure required at the lift was absolutely lost.

Jan 1, 1901