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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

By Moorrees C, Koh P. T, Tsambourakis G

Calcination of samples from the Savage River region of Thsmania containing varying magnesite/dolomite ratios under conditions optimized for the magnesite component, followed by carbonic acid leaching at elevated pressures, leads to leachates of varying composition. For a 3 per cent solids slurry leached at 15.5°C and 700 k Pa carbon dioxide, the leachates have magnesium concentrations in the range 0.71 - 13.2 g/litre. The corresponding magnesium extraction data are 12.5 - 86.4 per cent. The variation in leachate composition would be unacceptable in terms of continuous processing, so that a feed of "constant" composition is essential. Selective mining and physical beneficiation to remove the bulk of the dolomite do not appear to be practical. It is concluded that the most appropriate method of feed preparation is to carry out extensive blending of the magnesite/dolomite ore and the resultant calcine.

Jan 1, 1987

The copper-clay deposits consist largely of goethite and clayey mudstones carrying native copper, cuprite, and chalcocite. The mudstones are of Ordovician age, are interbedded with Fe-Mn carbonates, and probably contained syngenetic iron and copper sulphides. The secondary copper minerals have been derived from post-Devonian weathering in situ and also by deposition from surfaee and underground waters draining the adjacent mineralized volcanic rocks.

Jan 1, 1969

Calculations of the temperatures of metal, coke, and gas at any level in the cupola furn~ce can be carried out by means of heat balances, using data obtained from experiments with an 18 in. experimental cupola. The results can, to a certain extent, be verified by means of heat transfer calculations.The curves thus obtained, showing the variation of temperature with height in the cupola, provide a valuable picture of the heat transfer processes in a shaft 'furnace.INTRODUCTIONThe Brown Coal Research Laboratory, of the University of Melbourne, has been engaged in recent years on a programme of iron-melting tests in an experimental cupola furnace.Although the ultimate aim of this work is to develop brown coal char as a cupola fuel, most of the experimental work so far has been with conventional coke. The testing programme was designed to provide information on the effect of variables such as blast rate, metal-coke ratio, and coke size on the overall melting process, e.g. melting rate, temperature of metal tapped, and stack gas composition.However, in many cases data were obtained on conditions inside the furnace by measuring temperatures and gas compositions. The aim of the work described in this paper was to qevelop a method for using this data to obtain information on the processes taking place in the cupola.Very little research has been done on the combustion of fuels in shaft furnaces. Early work on this subject, as well as the initial stages of the Brown Coal Research Laboratory's programme, has been discussed by Evans (1959). The use of probes for obtaining information on conditions in the interior of a shaft furnace was pioneered by Belden (1913)...

Jan 1, 1963

The El Pe±on gold-silver deposit comprises four epithermal, low-sulfidation veins, which contain 2.9 million oz Au and 48 million oz Ag. Provisional data on alteration mineralogy, fluid inclusions, and vein textures constrain the chemistry and hydrology of the hydrothermal system responsible for ore mineralisation at El Pe±on. Alteration minerals include quartz, adularia, albite, illite, smectite, calcite, chlorite, and pyrite. Alteration minerals suggest the existence of near neutral pH, low salinity hydrothermal fluids, which circulated over an area greater than 18 km2. Complex mineral zonation patterns result from variations in host rock permeability and composition, overprinting alteration possibly produced by thermal waters from surficial and peripheral parts of the hydrothermal system, and supergene weathering in the hyperarid environment. Upflow zones were focused along N-S and NE trending structures, producing crustiform quartz-adularia+carbonate veins. Fluid inclusion data indicate vein deposition from low salinity (

Jan 1, 2002

By W. J. LANGRON

This paper describes the results of VLF-EM test surveys, using the Ronka EM-16 equipment, over a selection of environments in Australia and Papua.Using comparisons with known geology, drilling information and other geophysical work it is shown that the maximum depth of penetration of the method is about 100 ft but is considerably less than this in most areas.The author believes the method could aid in geological mapping and provide a useful adjunct to aeromagnetic surveying in some areas.

Jan 1, 1972

A description is given of the construction and operation of an automatic version of the coarse batch particle sizer which requires a minimum of operator supervision and which is capable of processing a sample every 4 min.

Jan 1, 1968

By Yates C, Gillie E. W, Finucane K. J

During the year 1940 a complete investigation was made of the whole of the stoping operations throughout the Great Boulder Mine and, as a result, it was decided to convert some of the existing shrinkage stopes into cut-and-fill stopes, and also to mine many of the more recently developed ore blocks by the latter method. The necessity for filling was due primarily to the structure of the ore blocks, the character of the walls and possible excessive dilution, but was influenced also by the grade of the ore-block and by the fact that cleaner mining can be carried out by cut-and-fill stoping.The comparatively few cut-and-fill stopes in operation prior to 1940 had been filled mainly with waste rock from development work, but as the amount of this material available, or likely to become available, would have been wholly inadequate for future operations, it was proposed to construct a system of passes to supply filling material from the surface.Owing to the distribution of the stopes, no central pass or system of passes could be devised which would service all the stopes satisfactorily.However, work was commenced on two passes, one designed to service the cut-and-fill stopes in the Eastern Section of the mine, and another to service those in the Western Section. It was realised that these passes could serve only a small proportion of the total number of Stopes (Figs. 1 and 2). During the progress of this work experiments were undertaken to test the possibility of using filtered tailings underground as an adjunct to the above scheme, but for various reasons these were only partially completed.Early in 1942 it was suggested by the Mill Superintendent that an attempt be made to fill with wet classified flotation tailings as practised at Mt. Lyell in Tasmania and at the Triton Mine at Reedy, West Australia. For the purpose of testing this, an experimental stope was prepared on the 309-ft. level, "X" Lode. This was 100 feet long and averaged 4 feet in width. Water-tight rearings were built at each end of the stope and waste rock fill was spread to a height of 6 to 8 feet above the timber. Used filter cloths were laid on top of the fill and brought a few feet, up the walls of the stope. A two-inch victaulic drainage line was then placed in position, the end passing through a hole in one of the bearings and thence to a sump. In the central portion of the stope two vertical pipes were brought up from this line. These were bored with one-inch holes staggered on opposite sides of the pipe, the vertical interval between each hole being one inch. The holes were then stopped with...

Jan 1, 1945

By J K. Claflin, S R. La Brooy

A case study from a current Ausenco project is presented to demonstrate the importance of maintaining high carbon activity to illustrate the driving force for plant improvements such as a carbon regeneration kiln upgrade.This paper revisits the factors that influence carbon activity for gold loading, with emphasis on deactivation by organic solution components such as flotation reagents.Kiln process design requirements for effective thermal regeneration are reviewed including the interaction of parameters such as temperature, kiln atmosphere and residence time.The different types of kilns that have been used for carbon reactivation are described. A check list is provided of what to look for when purchasing a carbon reactivation system for dealing with severely fouled carbon. This covers the ancillary equipment as well as the kiln itself.While the effectiveness of the carbon reactivation kiln is vital to maintenance of high carbon activity it needs to be remembered that this is only the end of pipe solution. It is also important to ensure that reagents such as frothers and flotation collectors are appropriately chosen to maximise recovery and at the same time minimise carbon deactivation.CITATION:La Brooy, S R and Claflin, J K, 2013. Carbon management in a high gold price environment, in Proceedings MetPlant 2013 , pp 455-467 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Jul 15, 2013

The upper amphibolite-grade mctasediments of thc rinaroo area, North Queensland, form part of a regional aurcole to the large Tinaroo Batholith and are the stratigraphic equivalents of the Hodgkinson Formation of gencrally low metamorphic grade. There is no evidence of any lithological unconformity.The higher grade metasediments have a more complex deformation history than is typical for thc surrounding region and this may bc due to one or a combination of two factors; an additional strain componcnt associated wilh the intrusion of Ihe Tinaroo Batholith, or a more marked finite strain response to the overall regional stress field within hotter. more ductile rocks.Four deformational events can be characterized within Ihc Tinaroo Area. Close to Ihe Tinaroo Batholith D1 and D2, arc so strongly developed that they disrupl the continuily of Ihe original Iithological layering. In the aureole region, D1 is strongly overprinted and its original fabric intensity is obscured, but both D2 and D3 display a mappable decrease in intensity away from the granite margin. These three deformations occurred during Carboniferous or early Permian time. D4 is later and only patchily developed.The broad, moderate pressure metamorphic aureole surrounding the Tinaroo Batholith is a typical of the CairnsCooktown group of Permo-Carboniferous granitoids. which usually develop narrow, lower pressure contact aureoles. Two periods of metamorphism are distinguishable. The first reached peak temperatures somewhat greater than 520°C, the second temperatures around 620-630° C immediately adjacent to the granite contact.Several cale-silicate lenses containing scattered scheelite mineralization occur within the area. Scheelite appears to have crystallized at the same time as the cale-silicate minerals, its appearance coinciding with the intrusion of the Tinaroo Batholith. Unlike many "skarn-type" scheelite deposits, the scheelite-bearing cale-silicates are Fe-poor, with no positive correlation between total Fe and W.

Jan 1, 1982

By O Haavisto, N Khajehzadeh, L Koresaar

Online analysis of metal content can be used to optimise the grade and recovery of a flotation circuit. Compared to conventional laboratory analyses, the benefit of an online analyser is the speed of the measurement, therefore disturbances (eg changes in feed grade and decrease in recovery) can be reacted to in real time by an operator or automatic process control system. In some cases traditional X-ray fluorescence analysers can be applied to silica analysis in iron ore when the SiO2 grades are high enough and have a negative correlation with iron; however, generally a laser-induced breakdown spectroscopy (LIBS) analyser is more suitable for low Z elements.The Outotec Courier 8® analyser is a LIBS based analyser able to measure elements starting from lithium (Z = 3), thus being able to measure impurities; eg silica and aluminium directly in iron ore slurries. Besides online elemental analysis, the analyser can be combined with optical measurements for rapid continuous measurement of each sample line. Laboratory testing has also shown potential for mineralogical analysis using the combination of LIBS and reflectance spectroscopy.CITATION:Koresaar, L, Khajehzadeh, N, Haavisto, O and Timperi, J, 2017. Online elemental and mineral measurement of slurries in iron ore beneficiation, in Proceedings Iron Ore 2017, pp 561–566 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Jul 24, 2017

By Wingham D. W

Based upon the previous work of Norman & Loeb, a method was used to assess the comparative wearing properties of ten different alloys being used, or being considered for use, as mill liners and grinding media at Mount Isa, The materials to be tested were obtained in the form of large diameter balls, and were run, along with the regular ball charge, in a large ball mill operating under normal grinding conditions. At selected intervals, the test balls were removed from the mill, weighed and identified, and their relative wear rates determined.INTRODUCTIONInformation in metallurgical journals, from local iron and steel foundries, and from various metal promotional organizations has suggested that the various alloy compositions available should be examined and assessed for possible use as milllfners and grinding media.Previous attempts at evaluation of recommended materials for these applications elsewhere, have usually involved the purchase of large quantities of grinding balls or complete mill liner sets, requiring running periods of up to two years or more. As well as being both a costly and lengthy procedure, the information obtained may be of little significance, due to changes in milling practice, and ore characteristics during the period of operation.To overcome these difficuities, a method was adopted based on the short time wear rate test recommended by Norman & Loeb (1949) and Norman (1957) in which all the materialsunder consideration are ·subjected·concurrently to the conditions of service.Previous calculations of wear rates have been dependent1. Senior Metallurgist (Materials), Mount Isa Mines Limited.2. Metallographer, Mount Isa Mines Limited.Manuscript received at The Institute, 22nd April, 1963, and presented to the1963 Annual Conference.

Jan 1, 1963

The reactions between molten aluminium and cryoIite have been determined from a material balance of all components involved in the process. The interpretation of results were supported by x-ray diffraction studies of the evolved vapours, quenched electrolyte samples, and side-reaction products.The most important reaction involves the formation of both Na2F (sodium subfluoride) and chiolite in the fused electrolyte. The Na2F accelerates vaporization of the melt. Some AIF (aluminium monofluoride) may also be formed but the proportion of this is much less than for the former subvalent compound.

Jan 1, 1968

The projection of operating costs for mining, processing, and other site operating costs is an exercise which can be fraught with considerable peril. Not only are the physical characteristics of each mineral property unique, but a range of other factors will influence the consultant's approach to compiling cash flow estimates. This paper details some of the techniques used in estimating operating costs for use in order-of-magnitude cost studies and feasibility studies, and describes how to avoid common areas of difficulty. A series of examples relating to open pit gold mining and processing cost estimates illustrate these problems, and various corrective methods are described. The mining and treatment processes, and their associated cost elements, are followed in sequence of operation from on-going ore delineation through to disposal of the product. In addition the problem of assigning management, administration and overhead costs along with taxation allowances is addressed. Of critical importance is the application or possible misapplication of accrual procedures to the cost elements. In many cases such misapplication can introduce more pronounced errors with projects of short duration, such as the typical open pit/C.I.P. gold operation commenced in the last decade. The importance of providing verification of estimates depending upon the standard of the cost study is also investigated, and opinion is provided upon the minimum levels of verification necessary at various stages. Finally, the amalgamation of the various individual cost elements into a coherent whole is reviewed.

Jan 1, 1990

By McKenzie A. M

The Corridor ore body is so named because it occurs in an east-west zone or corridor of schist bounded on the north by the siliceous conglomerates of Mount Lyell, and on the south by similar conglomerates of the Tharsis ridge (Fig. 1). It was discovered after the geophysical prospecting methods described below had defined a target zone for diamond drilling.Since the proving of copper mineralisation by drilling, the corridor orebody has served the vital function of a convenient known target body for the orientation of more recently developed geophysical methods. Traversing of the orebody by these new methods has provided experience for the evaluation of anomalies elsewhere.Some of the methods applied had not been used in Australia before, and were introduced to the west coast of Tasmania through the undertaking there of modern regional exploration programmes. The authors feel that the information gained could be of assistance to others engaged in geophysical prospecting.HISTORY OF DISCOVERYProspecting in the Mount Lyell district has been more or less continuous since 1881. The first geological report was published by Thureau (1886).In 1934, Blazey and Douglas (1934-38) commenced geophysical surveys at Mt. Lyell using the equipotential method.They obtained anomalous indications in several discrete zones and actually detected the south-east half of the corridor orebody but their work never became the basis for...

Jan 1, 1961

The Heavy Media Separation plant operated at Lidsdale siding, eight miles from Lithgow, by the N.S.W. Mining Co. is a product of the Western Machinery Company, of D.S.A.This mill, designed to use finely ground magnetite as the heavy medium, was prefabricated in America and shipped to Australia for erection.First operated early in December, 1951 it has worked on a two-shift basis since. Designed for an input rate of 330 tons per hour, this mill is capable of washing 4 in. x /u in. coal down to its inherent ash by removing all heavy material, including high-ash coal.The principle is quite simple. A stream of raw coal is fed into the separatory vessel which contains a liquid medium, the density of which is adjusted to produce the desired split between coal and refuse. In this bath the lightest coal floats, and all material heavier than the specific gravity of the medium sinks, and is removed separately. Such a system is,. ideally suited to Western coal, as there is no definite splitting point between coal and refuse. Inherent ash of the coal fed to the plant ranges from 8 to 25%, the corresponding density range being from 1.28 up to 1.8.Generally speaking, the higher the density the higher the ash content of the coal.The density in the separatory vessel (hereafter called the cone) can be quickly and easily adjusted throughout the above range to any desired value. Customer requirements, coupled with the economics of washing, dictate the proper specific gravity to be maintained. At present this is held at 1.52...

Jan 1, 1954

Drill cores from Section 62, New Broken Hill Consolidated Ltd., were used to study the petrology of rocks associated with the zinc lode. The distribution of the rock types in relation to the lode structure was determined. The distribution of the gahnite-bearing rocks was shown to be only partly conformable with the structure.It was concluded that large scale metasomatism was not widespread, that the rocks associated with the lode (except, perhaps, the quartz-gahnite-garnet rocks) were formed by metamorphism of sediments, and that rocks and lode were contemporaneously metamorphosed.INTRODUCTIONThis investigation was undertaken in order to study the rock types associated with the zinc lode of the Broken Hill orebody, and their relationship to the structure of the ore horizons. The work was confined almost entirely to the laboratory, and is therefore limited in its scope. It is hoped, however, that the information gained may throw some new light on the genesis of the lode.Certain inferences which are drawn from this work are at variance with the ideas of a number of earlier workers.In particular, the idea of large scale metasomatism developing many of the rocks associated with the lode, especially those containing manganese, is questioned. On the contrary, the rocks associated with the lode are more simply explained as highly metamorphosed sediments, in some cases modified by water introduced from surrounding rocks into zones of strong folding and faulting. As a corollary, a metamorphicsedimentary origin for the lode material, either as a concentrated sulphide deposit, or somewhat disseminated...

Jan 1, 1961

By Clements R. J, Davey J. M

Development of the process from the pilot stage to the current operation of the Capel, WA plant is briefly described.The design criteria for a larger sized plant are discussed together with factors that relate suitable feedstocks and coal types to the capital cost, capacity and product grade of future plants at locations other than Capel. The application of the process to the direct reduction of iron ores is briefly discussed including its commercial application at Rockwood, Tennessee.

Jan 1, 1980

The lead concentration of flotation feed ore slurries is determined using two ?-ray absorption gauges mounted directly on a 6 in. diameter flotation feed pipeline. One gauge is a conventional "density" gauge using CS137. The other is a "lead-sensitive" gauge, which depends on the preferential absorption. by lead of 225 key y-rays resulting from Compton backscatter of CS137 y-rays.Gauge outputs are combined using an analogue computer the output signal of which is directly proportional to the lead concentration of the pulp. The accuracy of measurement of the pulp lead concentration is ± 3·6 per cent for ore slurries with lead concentrations in the range 0'07-0·16 g/c.c. and pulp densities 1.43-1.60 g/c.c.This paper sets out the development of the technique and details are given of the two experiments (1964, 1966) conducted in the plant at North Broken Hill Limited. The installation of the two-gauge system inthe plant during May 1968 is described. Details are given of the calibration technique used and the results obtained.

Jan 1, 1969

By Freeman C, Dingley W

Addition of sodium nitrite-borax, sodium hydroxide, sodIUm carbonate, lime, or sodium silicate reduced wear of forged steel balls and cast iron slugs in wet grinding a complex zinc-lead-copper sulphide ore in laboratory ball mills. Maximum wear reductions were 27 per cent (forged steel balls) and 33 per cent (cast iron slugs) with sodium hydroxide and nitrite-borax additives respectively.Potential measurements of balls and slugs during grinding, and analysis of the data in terms of corrosion theory demonstrated that corrosive wear had been reduced or prevented by these additives. Actual per cent wear reductions were not equated to the rate of corrosive wear because of the undefined interdependence between abrasion and corrosion in wear processes. The investigation verifies that in laboratory ball mills corrosion is significant in the wear of grinding media and wear can be reduced by corrosion inhibition and pH adjustment.

Jan 1, 1978