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The Joint' Venture Method is a procedure for assessing the value of exploration properties, particularly those for which resources have yet to be delineated. It aims to convert the terms of an actual or synthetic joint venture into the equivalence of an arms- lengths cash transaction between a willing seller and a willing buyer. This paper sets out one approach to achieving that conversion. It discusses both simple and complex cases and gives some examples from both public and private documents. It also includes some case studies in which the Joint Venture Method of valuation can be compared with values derived for the same project using other methodologies including actual cash deals. The Method has failings in both mathematics and logic. However because it does reflect or simulate an arms-length deal which takes into account past exploration effort and expenditure and an assessment of prospectivity at a particular point in time, it is felt that it can provide a reasonable approximation of trade value or asset value of a prospect, particularly if used in conjunction with other methods.

Jan 1, 1994

By J Coombes

There is much debate on the Competent Persons qualifying criteria for providing classified resource estimates for public reporting. The CRIRSCO family of codes including the JORC Code, SAMREC, PERC and NI43–101, require Competent Persons to have at least five years ‘relevant’ experience and belong to professional bodies. These codes provide further, albeit vague, guidelines to assist individuals with their personal decision to take on the mantle of ‘Competent Person’. There is a risk, however, that these qualifying criteria can result in ill-prepared Competent Persons whose actions and recommendations would undermine their own reputation and that of the organisations that employ them; the integrity of the profession and the principles based reporting systems; as well as the stability of stock markets that rely on these estimates.Based on doctoral study on the development of professional competency within the mining industry, this paper presents an evaluation of the suitability of the current qualifying criteria as well as an analysis of alternative criteria. The research included a series of interviews with industry experts and an online survey of resource geologists. Semi-structured interviews provided a sense of experts’ expectations and interpretation of the current definition of ‘Competent Person’. The comprehensive online survey included a self-assessment, a series of situational questions designed to evaluate responses to typical resource geology scenarios and a set of open-ended questions relating to factors contributing to competency development.A summary of the data analysis, interpretation of the results and a set of recommendations for revised ‘Competent Person’ qualifying criteria are presented. This paper contributes to the conversation on what makes a person suitably qualified to report classified resource estimates and provides practical targets that can be used in the professional development of resource geologists.CITATION:Coombes, J, 2014. Redefining Competent Persons criteria for resource geologists, in Proceedings Ninth International Mining Geology Conference 2014 , pp 153–158 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Aug 18, 2014

By Phillips RN

Semi-confined, trachy-andesite sills which overlie the German Creek Seam, within the critical tensile strain zone, form major groundwater hazards to longwall mining at the German Creek underground mines. The water contained in these aquifers is normally neutral, but highly saline. Techniques used to detect aquifers include routine air-lift pumping in exploratory drill holes, downhole geophysical and geological logging and upstage packer testing. Hydraulic constants are calculated from pump-out and pump-in test results. Hydraulic parameters for the calculation of mine inflow rates are determined from pump-out test results because these tests appear to be more representative of aquifer drainage during goat dewatering than pump- in testing. During mining of the first longwall block at Central Colliery, caving fractures intersected overlying aquifers after the longwall had retreated 40m, and mine water inflow rate rapidly increased from less than one litre/sec to 25 litres/sec. The amount of water pumped out of the mine during first panel extraction was 140 megalitres with drawdown occurring over an area of 168 hectares. In the Southern Colliery area approximately 324 megalitres of highly saline water which is actively stored in the Aquila Sill area will be pre-drained from six well points prior to longwall mining. With effective pre-drainage from surface drill holes, maximum inflow rate into the mine during initial goafing can be reduced from 165 litres/sec to about 45 litres/sec.

Jan 1, 1988

By R Miller

The enrichment of magnetite to haematite and haematite-goethite leads to a coincident magnetic low and gravity high within the banded iron formation. Palaeochannel deposits of pisolitic limonite can be expected to provide a relative magnetic high and gravity low in a sinuous geometry. Detrital iron deposits of conglomerate, scree or ‘canga’ might have indistinct magnetic response but will usually have a relative gravity high.These signatures provide clear discriminators detectable by a joint gravity and magnetic survey.The combination of airborne gravity gradiometry and magnetometry is particularly powerful in detecting and discriminating targets, as well as mapping lithologies and structure, across a wide variety of iron ore deposit styles. It provides detection capabilities in a platform capable of rapid, complete coverage with minimal access issues. This approach has been used in FALCON™ airborne surveys for iron ore exploration in the Great Lakes, USA; the Middleback Ranges, South Australia; and the Hamersley Basin, Western Australia.The complex magnetic properties of iron formations (particularly remanence, anisotropy and depth of weathering) prevent this approach from being simple. The use of vector residual magnetic intensity (VRMI), calculated from the measured total magnetic intensity (TMI), assists by reducing the complexity due to the different directions of the remanent and induced magnetic fields.Estimations of the density to magnetisation ratio via the pseudo-lithology calculated from the VRMI and gravity gradients provide a useful method of capturing the discriminatory power of joint magnetic and gravity gradient data.

Jul 11, 2011

Australia is a highly significant hub in the global minerals business. This paper will present the results of global and national studies looking at the potential 20 to 30 year future evolution of the mining and metals industry.   Globally, the World Economic Forum launched a Mining and Metals Scenarios project in January 2009 to explore the question: 'How will the environment for the global mining and metals industry look in 2030?'. As part of a structured strategic foresight process, eight workshops were held across the world over the course of a year which brought together over 200 leaders from the private sector, government, academia and non-governmental organisations. The workshops were supplemented by personal interviews and guided by an international advisory board.   Critical uncertainties for the future of the industry were identified and compare extremely well with the outcomes of a national survey of AusIMM members identifying the key issues and drivers shaping the future of their operations. Global context was one of the most significant issues identified by The AusIMM membership, which is expanded in the World Economic Forum study in terms of: geopolitics; global governance; action on climate change; and economic outlook. More specifically, this global study developed three divergent yet plausible scenarios describing potential environments for the global metals and mining industry in 2030. These scenarios are compared with ground-breaking global foresight work coordinated by the Stockholm Environment Institute in the 1990s. The scenarios will help decision makers rehearse alternative futures, anticipate potential hazards and identify business opportunities - new solutions, new markets and new connections. The presentation will present these scenarios as a way of challenging thinking, testing established wisdom, and stimulating imagination about the business case for the mine of the future. As Marcel Proust put it, 'The real voyage of discovery consists not in seeking new landscapes but in having new eyes'. This is an ABSTRACT ONLY no paper was prepared for this presentation.

Jun 1, 2010

With constantly rising energy costs it is ever more important that we look at ways of im- proving comminution efficiency both in terms of power consumed as well as capital costs required for purchasing and installing equipment. I intend to show that commonly used appli- cation criteria, which is presently accepted for designing crushing and screening plants, need drastic revision if it is to be used to accura- tely design, predict and refine performance in new and existing facilities. Unless we can calculate performance accurately, we cannot minimise capital investment and maximize Profitability.

Jan 1, 1978

Technological advances evolve in different ways; many are the result of years of application of scientific method. i.e. Observation Deduction Hypothesis Proof In the mining industry, better explosives, drill bits or reagents are likely to evolve in this way. The scientific method is suited to the application of conventional management structures. Other advances are simply the result of a "brainstorm", or building a better mousetrap. Such inspiration probably resulted in "Split Set" rock bolts, or the first use of a vacuum cleaner principle for shaft mucking. Individual consultants can apply lateral thinking to generate such inspiration. In gathering material for the presentation of this paper, I sent a.letter to all members of the Mineral Industry Consultants Association asking them to nominate problems in the industry requiring investigation. The answers have been divided into two classifications - contract research underway and identified problems requiring solutions.

Jan 1, 1986

By Rozycki J

The results of shaft lining monitoring gave rise to an investigation of cracks observed in the structure. An hypothesis was made that the cracks might be due to stresses caused by energy wave propagation, triggered during blasting or by the rock falls. However, it could not be excluded that the cracks had their origin in the rheologic changes taking place in the concrete. To prove the hypothesis, an investigation of the scale of the increase of stress due to the energy triggered was undertaken. At the same time it was decided to attempt to determine the "damage threshold" for such material in the danger zone. In the paper the investigation and its results are presented, as conducted in one of the shafts. In conclusion, certain generaliza- tions are proposed to give a starting point in the consideration of similar problems elsewhere.

Jan 1, 1987

By K Baker, J Purtill

One of the key challenges for the mining industry globally is the rehabilitation of mine waste, and Queensland is no exception. Out of pit waste structures including waste rock dumps and tailings storage facilities, create novel landforms which require ongoing maintenance and pose risks to the environment and sometimes to communities. Where multiple mines co-exist, such as parts of Queensland’s Bowen Basin, individual mines can often be constrained by adjoining operations. This presents opportunities for broader rehabilitation strategies to be considered, more than the current single mine focus, that may provide better environmental outcomes for a region. Given recent global disasters involving tailings storage facilities, and our team’s endeavours to drive Queensland to achieve leading practice in mined land rehabilitation, we are exploring the potential to maximise in-pit tailings disposal opportunities for coalmines through shared waste management strategies. A shared waste management strategy is where two (or more) mines, owned by different companies and operated under different environmental permits, transport tailings from one mine to the other in close proximity, for disposal in a disused pit. This would reduce the number of waste structures to be built, operated, rehabilitated, and managed in perpetuity. Our objectives are to identify and remove barriers to tailings transfers between sites to:  minimise environmental risk  minimise long-term liability of managing mining waste and associated structures  support improved outcomes for the local community. To determine the scale of coal waste disposal practices in Queensland, internal data and publicly available imagery was analysed by the Department of Environment and Science in 2022. Approximately 6500 ha of land in Queensland is utilised for coalmine tailings storage facilities or codisposal areas, with ≈ 3700 ha of this being out of pit.

Aug 2, 2023

The organization of this department is as shown in the following chart:Chief Mechanical EngineerPowerGenerationWorkshopsNew ConstructionMaintenanceTransportCommunity ServicesMineMillSmelterDesign and OfficeOrganizationThe functions of each section will be described separately.MAINTENANCE UNDERGROUND DEPARTMENTThis section covers all mechanical equipment underground as well as fans and winders on the surface, the headframes, and conveyors from the shaft to the crude ore bins. As has been descrIbed, No. 2 Ore shaft was opened up to the surface and a new headframe and receiving bins were erected, and when the new lead crushing and screening plant was constructed and ready for operation, the rope sheaves...

Jan 1, 1953

WITH the exception of the deposits of the Milburn Cement Co near Dunedin, Wilson's Portland Cement Co., on the Mahurangi River (a short distance north of Auckland), and those of the New Zealand Portland Cement Co., at Limestone Island, the cement. Tesources of New Zealand remain practically undeveloped. The Milburn Company utilizes a mixture of limestone and mud for the manufacture of cement, while Wilson's and the New Zealand Portland Cement companies both have the advantage of a natural cement stock which requires but small additions of highgrade limestone to give the mixture required. The plant and deposits of the New Zealand Portland Cement Co are located in Whangarei Harbour, some six miles from thetownship of Whangarei. The works and dwelling-houses are situated on Limestone Island, which, with an area of 92 acres, and rising to a height of 212 ft., supplies the bulk of the raw material required. In addition to the island, the company possesses a high-grade limestone area of, roughly, four acres, situated on the mainland, 11 miles to the south. A better location for a cement works could not well have been chosen. On the east side of the island there is a deep channel, which never shows less than 18 ft. of water alongside the company's...

Jan 1, 1911

By M J. Kelleher

CREAM is an acronym for coal recovery, evaluation, analysis and management and is a business improvement project at BMAÆs Goonyella Riverside mine that is focussed on maximising coal recovered. In August 2003, Goonyella Riverside was set a challenge to quantify coal loss and dilution and their relationship to cost, revenue and ultimately profit. While the mine was confident in its site forecasts of recovery (and loss), it was clear that the traditional measurement and analysis systems were inadequate to firstly, identify key loss areas and mechanisms and secondly, successfully quantify the benefit of various coal recovery initiatives. The path that BMA Goonyella Riverside has travelled to maximise coal recovered can be divided into four key steps: Mapping the process û This step involved the development of a coal flow process map for Goonyella Riverside that stepped through each component of the process from the coal reserve to the customer and identified key measurement points for the purposes of reconciliation. Understanding coal loss and identifying opportunities û This step involved conducting two detailed Reserve to Customer projects at the mine site to track a block of coal from the reserve to the customer and to gain a greater understanding of the relationship of dilution, coal loss mechanisms, revenue and costs associated with recovering additional coal. Coal data systems development û Two important coal data systems have been developed and implemented at Goonyella Riverside in the past twelve months, namely SnowdenÆs Coal Reconcilor and SeamFix. These systems enable coal losses and dilution to be quantified and reconciled back to the initial coal reserve. Implementation of loss reduction initiatives û This step involved the formation of a business improvement project referred to as æCREAMÆ in August 2004, for the purposes of improving pit coal recovery and maximising business value. To date a series of coal recovery trials have been run in a number of pits at Goonyella Riverside that have yielded significant improvements in business value. The key to the success of this project has been the discipline to follow a defined process map, management commitment through resourcing and shared key performance indicators, a successful acceptance strategy resulting in holistic ownership and the implementation of sustainable reconciliation systems. Coal loss and dilution are now quantifiable and their relationship to cost, revenue and ultimately profit is well understood. This paper discusses the process that Goonyella Riverside has adopted to maximise coal recovered.

Jan 1, 2005

By E U. Petersen, D R. Cooke

Hydrogen and oxygen isotopic constraints on hydrothermal fluid composition from the Pliocene Boyongan and Bayugo porphyry copper-gold deposits (southern Philippines ) reveal mixing of magmatic and sea water reservoirs as the hydrothermal system evolved. Magmatic-equilibrated fluids (d18O: +8.3ë to +9.1ë; dD: -61ë to -51ë) are represented by hypersaline brines implicated in copper-gold transport and deposition. These dominate the fluid inclusion assemblage in early comb-quartz (unidirectional solidification textures), miarolitic quartz, and in K-silicate-stage quartz-K-feldspar ¦ biotite veins. Fluids responsible for post-K-silicate alteration assemblages of pyrite-clay (illite, pyrophyllite and kaolinite), alunite and smectite are represented by low-moderate salinity two-phase inclusions in co-existing quartz. These are interpreted as mixtures of evolved magmatic fluids (d18O dD: -42ë to -20ë) with evolved Pliocene sea water (d18O: + 4.0ë; dD: +4ë). The isotopic evidence for sea water involvement in the hydrothermal system suggests that porphyry emplacement and associated diatreme formation could have occurred in a submarine setting. An EXTENDED ABSTRACT is available for download. A full-length paper was not prepared for this presentation.

Jan 1, 2008

Coeur d'Alene Mines is a precious metals producer which is dedi- cated to growth through it's exploration and acquisitions efforts. We foster and support these activities by providing our staff with long-term financial support, the encouragement to proceed with their projects and ideas, and a firm belief that we will be successful. Coeur's corporate headquarters are located in beautiful, historic Coeur d'Alene, Idaho. Our main mining operations are Rochester, locate near Lovelock, Nevada, Coeur Mine,located near Wallace, Idaho, and Thunder Mountain, located in central Idaho. Our Ken- sington Gold project is located about 45 miles north of Juneau in southeast Alaska. We have exploration offices located in Reno, Nevada, and Santiago, Chile. At this time, Coeurd'Alene Mines produces precious metals from mines located in the United States. Our Rochester open-pit opera- tion, which is 100 per cent owned and operated, is located in Nevada. Presently, this operation produces 5.5 to 6 million ounces of silver per year and 60-70,000 ounces of gold. We move 65,000 to 70,000 tons of rock per day of which about 23,000 tons is ore. The ore is crushed, stacked on permanent heaps and leached. The recovery is by Merrill-Crowe. Although the average grade is rela- tively low, 1.4 ounces per ton silver and 0.012 ounces per ton Au, the operation is very low cost. Our cost of production is less than $4.00 per silver equivalent ounce. Rochester is anunusual operation in that the crushed rock stacks without much compaction and the ores are easily leached. The final height on our heaps will be about 220', and overall recovery will be about 55 per cent of the silver and about 85 per cent of the gold. Reserves at Rochester are expanding and are now adequate for at least fifteen years of opera- Tion.

Jan 1, 1991

By Wu H. W, Just G. D

Australia's mineral resources boom in the two decades up to 1980 saw the establishment of about 25 new mining towns across the continent Quality housing and a high standard of community services were incorporated to attract a labour force for the major mine or mines i eing serviced. Town construction costs were high and were principally born by the private enterprise mine developer. There has been a change in the pattern in recent years and over 20 new mine developers have adopted a fly-in fly-out arrangement rather than construct new towns. Employees are drawn from a home base which is typically a large city, coastal community or established mining town and flown to the mine site for intensive work periods of about two weeks. The change has occurred for many reasons. Mining companies have been unwilling to support the high construction costs of towns, short life and smallermining operations do not justify a town, fast jet aircraft are available and there is a better perceived family lifestyle in established (coastal) communities. On the other hand reduced permanent development at new mine sites does not assist Australia's perceived need for decentralization. There have been questions as to the social problems which may develop from the artificial separation of the "breadwinner" from his family. The paper reviews a recent survey of the attitude of Australian mining companies employees, governments and unions to fly-in fly-out arrange- ments. The support for this approach is analysed and conclusions drawn that the concept is likely to be with the Australian mining industry for some time in the future.

Jan 1, 1991

By Durucan S

Uncertainty due to spatial and temporal variability of different pollutants found in soil, water and air is an important issue in the modelling of environmental impacts. Recognition of spatial environmental patterns is relatively straightforward to achieve by applying most of the well-known artificial neural networks or adopting a stochastic approach. However, it is the temporal component of the environmental variables that makes modelling of the environmental pollutants particularly complicated and challenging. This paper presents the results of a case study investigating the artificial neural network performance when modelling the spatio-temporal behaviour of environmental pollutants. The test case involved the modelling and prediction of the distribution of water quality indicators along a river from the point of discharge of treated mine effluents. The behaviour of river water quality indicators is rather complex and shows a lot of fluctuations due to a number of hydrochemical, hydrobiological and hydrodynamic factors. Results obtained in this study indicate that artificial neural networks provide a very powerful and robust method for simultaneous modelling of spatio-temporal behaviour of environmental pollutants.

Jan 1, 1995

By B Chappell

Backfill in the form of mine waste tailings has inherent problems associated with attaining adequate strengths upon placement. Fines are usually removed to ensure adequate drainage, which lowers the cohesive strength of the fill, leaving the fines to be placed in a tailings dam. Electro-drainage and electro-chemical grouting is examined to investigate its effects on densification and shear strength within a silty clay tailing having low permeability and shear strength. Two separate grouting mechanisms are observed for the iron and silica grouts used. Electroosmosis is associated with iron grout that deposits within the tailing matrix under a converging pH gradient, and increases the permeability of the tailing. This process initiates cation exchange and causes cementing of the granular contact points between the clays. Electro-phoresis causes sodium silicate solution to deposit silica grout in the voids of the tailings. The resultant effect of these mechanisms results in an increase in cohesion, leaving the void ratio of the iron grouted tailings as it was but significantly reducing the void ratio of the silica grouted tailings.

Jan 1, 1998

By L McCarthy, B W. Cuffley, O K. Thomas an

The Central Victorian Goldfield is a world-class field located in Victoria, Australia. It is currently undergoing a revival through activities in the Bendigo, Ballarat, Tarnagulla, Maldon, Castlemaine and other fields. Sediment-hosted auriferous gold-quartz reefs that are structurally and geometrically complex dominate the region. To date, no remote methods have been developed to assist in the targeting of the discrete high-grade oreshoots that characterise the mineralisation. An understanding of the structural setting and controls, and thus likely frequency of repetition of oreshoots remains the main exploration tool. Gold within the reefs is generally characterised by both its coarse nature (>100 up to 10 000 microns) and erratic distribution; as a result, most of the Victorian deposits are classed as high- to extreme-nugget effect systems. This characteristic ensures that mineralisation is very challenging to explore, evaluate and exploit. The key issues facing the explorer and miner are related to effective sampling, and definition of geological and grade continuity, and ultimately grade and tonnage. Tonnage can often be estimated to a reasonable level of confidence, whereas the grade estimate generally carries a medium- to high-level of uncertainty. In these deposits, surface diamond drilling alone is generally only able to define an Inferred Mineral Resource, with underground development, closely spaced in-fill drilling and bulk sampling/trial mining required to define Ore Reserves. The extraction of gold from ores is relatively simple, based on the coarse nature and hence amenability to gravity recovery. Ground conditions and the need for in-stope grade control (eg mapping, sampling etc), generally point toward mechanised cut-and-fill as the primary stoping method in the region. To potential investors this style of mineralisation has been viewed as high risk, because of the associated low confidence in the grade estimate, general paucity of Ore Reserves at mining start-up and need for underground development at the Feasibility Stage.

Jan 1, 2004

By LaBrooy S. R

Crushing for the gold industry involves fine crushing and a degree of primary milling, and this presents new problems and challenges, partiuclarly on many of the new ore-bodies now being opened up. All of this calls for a better understanding of some of the basics of fine crushing and milling. Accordingly, in this paper the "typical" contemporary Australian gold mining operation is firstly delineated, in terms of representative ore types and typical crushing and milling tasks. Then some of the technical and economic basics related to fine crushing are re-examined, including: energy relationships in crushing and milling; concepts of reduction ratio; recirculating load controversies; and questions of realistic economics in crushing gold ores. The economics of the typical gold mining operation are shown to be rather marginal; not the lavish "bonanza" many may imagine. Likewise, crushing cost expectations are frequently quite Unrealistic.

Jan 1, 1987

By Wu Y, Qu Q

The Central Coal Mining Research Institute has developed the MAE acoustic emission monitoring system, the BD4-1 portable acoustic emission monitor and the MRB rock burst monitoring system. In the MAE system there is an IBM-PLAT, a receiver and 16 channels and the investigating range is 100 m. The main functions are detecting acoustic events from the working faces, periodically making statistics, prints, displays and storing of the results, and performing the off-line process such as drawing the curves of acoustic activity. The BD4-1 instrument has four channels, it works for more than 24 hours continuously, and keeps the data for more than 30 days after power tum-off. The BD4-1 is suited to the monitoring for a long or a short time as a fixed point where the system is invalid, especially to the monitoring of the acoustic activity promoted by the blasting. There is an IBM-PC/AT, a receiver and 16 channels spread 10 km in the system MRB. The system could on-line collect microseismic events throughout the whole mine, calculate the source location and the energy, and off-line draw the seismic activity draft of time-based or distribution in space. In practice, the forecasting is successful by using the acoustic emission and microseismic monitoring system and the portable instrument.

Jan 1, 1991