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Who Macraes Mining Company Limited is can be summed up by the following statements: +         We have been New Zealand's largest gold producer for seven years +         We have one of the lowest market capitalisation per reserve ounce of the gold producers in the  Australian Gold Index +         We have a resource finding cost of less than NZ$l0 per ounce +         We have a large land bank with proven reserves +         We have an Operating Cash Margin of approximately NZ$200 per ounce +         We have reduced our Dry Milled Tonne Cost by 34% since 1992   Our Mission is to continually grow our gold business, through maximising cashflow and focusing on our value drivers being: +         Increasing reserves +         Increasing cash operating margins +         Increasing production   The real challenge is the reduction of operating costs and the optimisation of revenue, particularly in the current gold price environment.   The Company has as at 31 December 1996 total mineral resources of 6.1 million ounces and reserves of 3.4 million ounces. This together with our current cash position of approximately NZ$15 million and strong hedging book of approximately 800,000 ounces places the Company on a sound financial footing whilst positioning itself to aggressively pursue its growth strategy when gold price and market conditions improve.

Jan 1, 1997

The key to the successful debt funding of a new mining project, whether in economically established or developing nations, is the submission of a comprehensive feasibility study. The feasibility study forms the basis from which the resource banker can construct financial models which govern the amount of available funds, the conditions which control the supply of such funds and the time period over which the loan may be repaid. The bank will wish to ensure that the feasibility study is the best representation and confirmation of reality possible because this model is the basis of the loan security package. Thus the study will be vigorously interrogated by independent experts in all its elements including the ore reserve, mineability, metallurgy, operating and capital cost profile, environmental factors and management. A well constructed feasibility study, undertaken by well recognised and respected independent consultants can save the client company a great deal of real and opportunity costs especially in relation to project timing. Once constructed and operating, the mining project may face one or more completion tests in relation to the loans provided. The genetics of such tests often relate to either the ability of the operating company to become solely responsible for the repayment of the loan or to be rewarded by lower interest rates or some other mechanism. Strong professionalism, accessible records, good checking procedures and high quality, competent site management will greatly assist the client company passing these tests. A record of well established technical competence with its bankers may well assist a company in the establishment of a mezzanine loan for the early development of its next project, thus allowing an earlier return of dividends to shareholders.

Jan 1, 1995

Thermodynamics of Non-Cyanide Gold Solvents The present status of the raw material base in the gold industry requires specific ways to recover gold and silver from ores. Most gold is closely associated with sulfides which require flotation followed by pressure or bacterial oxidation. The next stages of processing usually require using expensive operations for the preparation of leaching. A lot of researchers want to find a new alternative solvent for the extraction of precious metals from these products. According to the authors, one of the best ways is to use sulfur-based solvents (thiosulfate, sulfite, and their various mixtures). Thermodynamics of gold and silver thiosulfate dilution are calculated for conditions: the concentration of Au - 200 mg/L, oxygen - 3.2 mg/L, thiosulfate - 79 mg/L, OH- - 170 mg/L. the general result is the possibility of process remains under standard conditions. (erAu = = 0.035 V, ?G298 = - 29.18 kJ/g-atom ??). Silver with thiosulfate forms two strong complexes: [AgS203]- and [Ag(S203)2]3-. ?G0 = -1027 kJ/mol. The complex [AgS203]- is less stable: ?G0 = 486 kJ/mol. It should be noted that despite the high stability of gold complexes, the sodium thiosulfate may decompose to sulfite and elemental sulfur during the process, especially when heating. Gold is slightly soluble in the sodium sulfite solution, however it forms the strong complex [Au(SO3)2]3-. Depending on the concentration of free S2O32-ions, silver with sodium sulfite forms three complexes: [AgSO3]-, [Ag(SO3)2]3- and [Ag(SO3)3]5-. The dissolution speed of gold in sodium sulfite solution may be in the same range as it is during cyanidation. In this case, a practical application of sulfite process can be also used, especially for the products containing free elemental sulfur. In conclusion, sulfite-thiosulfate gold lixiviants can be used for concentrates after pressure oxidation of the cakes.

Sep 13, 2010

By M J. Begbie, K B. Sporle

The Golden Cross low sulfidation epithermal deposit produced approximately 750,000 ounces of Au from two ore zones: the underground Empire Vein System and the open pit stockwork. The Empire Vein System has at least eight stages of vein formation: (1) sulfide veins, (2) black veins, (3) massive veins, (4) banded veins, (5) thin white veins, (6) crumbly veins, (7) massive/platy calcite veins, and (8) flattened rhomb calcite veins. Gold mineralisation occurred relatively early in the lifetime of the system, dominantly during 2 through 4. The late calcite veins (7 and 8) and early sulfide veins (1) are barren. The vein system formed in a dominantly extensional environment, though some compressional faulting may have also existed during vein formation. There is no evidence for significant strike-slip faulting during vein formation, highlighting the fact that explorationists should pursue on-site structural patterns rather than fashionable models.

Jan 1, 1998

By R P. Bewick

Many future and current block and panel caves extract ore from veined rock masses. These rock masses are composed of open joints forming blocks or rock with healed networks of veinlets. These two types of discontinuities pose a challenge for rock mass characterisation and classification due to difficulties in distinguishing actually open joints from healed but weak veins when diamond core drilling and excavation blasting practices disturb the rock mass. The inability of separating characteristics of open joints and healed veins has often resulted in an underestimation of the rock mass quality and as a consequence led to inappropriate assessments of rock mass response to mining (ie rock mass behaviour) and consequently deficient excavation stability assessments and ground support designs. In this paper, guidelines are provided to improve the characterisation and classification of veined rock masses. It is shown how veined rock masses can be mischaracterised resulting in often incorrect forecasting of rock mass behaviour. Following this, the classification of veined rock masses is examined. It is shown how the primary classification systems (ie Q – Barton, Lien and Lunde, 1974; rock mass rating (RMR) – Bieniawski, 1976) may not lead to reliable ratings in veined rock masses if care is not taken to differentiate between open joints and veins of varying strength. Examples are provided to illustrate how the Q and RMR systems are insensitive to veining. Finally, an example of characterising a veined rock mass for design purposes is presented.CITATION:Bewick, R P and Kaiser, P K, 2016. Characterisation and classification of veined rocks for rock mass behaviour assessment, in Proceedings Seventh International Conference and Exhibition on Mass Mining (MassMin 2016), pp 825–834 (The Australasian Institute of Mining and Metallurgy: Melbourne).

May 9, 2016

A Novel Diagnosis and Evaluation Procedure for Flotation Plants

Sep 13, 2010

By B Miles, D J. Williams, J Ahn, T A. Vangsness

The flooding of open strip coal mines in the Bowen Basin and Hunter Valley Coalfields of Eastern Australia has the potential to soften the spoil and floor materials to produce “mud”. This mud can act as a slip plane or weak zone when spoil is dumped into it, resulting in geotechnical instabilities. It is therefore important to understand the mechanisms and degree of degradation likely to occur within coal mine spoil of different qualities.To investigate this, five clay mineral-rich coal mine spoil samples were collected from the Bowen Basin, and each sample was subjected to wetting and drying cycles to simulate degradation that could be expected on wetting-up in situ, with their particle size distribution analysed both before and after degradation. These results were compared with the results of a modified slake durability test, in which the entire sample was tested.The paper presents the results of the accelerated degradation and modified slake durability tests on each of the five spoil samples. These results were related to the physical and geochemical characteristics of the samples, which highlighted their importance. The modified slake durability test may be used to rapidly simulate the expected in situ degradation of coal mine spoil on wetting-up, enabling susceptible spoil materials to readily be identified.CITATION:Vangsness, T A, Williams, D J, Ahn, J and Miles, B, 2018. Accelerated degradation and modified slake durability testing of clay mineral-rich coal mine spoil, in Proceedings Mine Waste and Tailings Stewardship Conference 2018, pp 83–96 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Jul 23, 2018

A summary of a proposal to develop a 20 000 tpa underground gold operation in a Forest Park. The environmental constraints are severe and affected the mine development planning and choice of mining method. The mine will use trackless methods to access the narrow 1.5 m ore shoots, and to mine ore by cut and fill methods. The use of Microscoop and CT 1700 HE electric LHDs for mucking, together with special drilling attachments for drilling, is central to efficiency and small Kubota diesel haulers will be used for carrying ore to surface.

Jan 1, 1986

By M P. Simpson

Forty one whole rock samples from the Gold Cross low-sulfidation epithermal Au-Ag deposit have d18O values that range from 4.4 to 9.3 per mil, with an average value of 7.0 per mil. Unaltered and weakly altered rocks have d18O values greater than eight per mil, and the orebody is surrounded by samples that are depleted in 18O. A strongly silicified sample adjacent to the Empire Vein System has a d18O value of 9.0 per mil, similar to previously reported analyses of vein quartz (7.0 to 11.7ë, average 9.4ë). This suggests that, in detail, Golden Cross may have a zone of 18O-enriched wall rocks in the core of the deposit, adjacent to the main underground veins. Although some workers have suggested that stable isotope geochemistry may provide useful information for epithermal mineral deposit exploration, at Golden Cross this is not the case. Alteration minerals, major elements and trace elements all define larger, less ambiguous halos than the zone of 18O-depleted wall rocks.

Jan 1, 2001

Tried, Tested and Proven - 300 m3 Flotation Cells in Operation

Sep 13, 2010

Lower Miocene Maryville Coal Measures at Waitewhena Coalfield, in the Taranaki coal region, include seams of sub-bituminous coal up to 4 m thick. During coalfield exploration Fletcher Challenge Ltd drilled ten cored holes, all of which encountered at least one seam. Coal quality is variable. Ash ranges from six to 12 per cent and sulphur from 0.5 to three per cent. A basal seam, overlying the Lower Mokau Sandstone, appears to extend throughout the area under investigation. A rider seam, of variable thickness, closely overlies the main seam in most drillholes. The rider converges with the main seam to the north and vertical trends in coal properties suggest that the seams are united in some locations. A less extensive seam sometimes occurs at the top of the coal measures beneath the Upper Mokau Sandstone. The lithostratigraphy of the intervening coal measures is complex, and coexistence of fluviodeltaic, lagoonal/lacustrine, and marine depositional environments is provisionally inferred. Lateral variations in coal properties (clastic derived ash, volatile matter, inertinite, hydrogen), thickness of the sedimentary parting between the basal seam and rider, texture of the coal measure sediments, and distribution of the upper seam all indicate persistence of a relatively low lying northeast-trending zone which may have been structurally controlled. Available data indicate that coal measure accumulation was terminated by marine transgression from north to south.

Jan 1, 1987

A study was undertaken to investigate the relationship between the quantity and value of economic demonstrated resources discovered for 12 mineral commodities over a ten year period and the expenditure required to yield such mineable resources. The results showed that for every dollar spent on exploration, there is an apparent in-ground average value of around $54 dollars contained in the economic resources found. While this appears to be a satisfactory return, it should be remembered that more than 99.9% of exploration programs are judged to be failures because a viable ore body or mineral deposit was not proved up. What is behind this seeming paradox?   The fundamental truth behind mineral exploration is the fact that the more you explore, the more you find, and that one success will often lead to further discoveries. It appears that one rich and viable deposit creates such surplus that its inherent high value ('the pot of gold') makes up for all the failures. In short, mineral exploration is a high risk business with uncertain returns. However, with skill, enthusiasm, experience and venture capital, it can yield larger than normal returns for the brave and the fortunate.   Analysis of exploration expenditure and economic resources discovered for the period 1987 to 1996 revealed that the apparent in-ground value of economic ore discovered per dollar of exploration expenditure varied from a high of $429 for iron ore and $261 for bauxite to a low of $22 for gold and for lead, and $5 per dollar of diamond exploration expenditure. Preliminary conclusions drawn on the reasons for the variations observed include the inherent ease or difficulty of discovery for different mineral commodities which may in some cases, relate to the natural prospectivity of Australia as a whole. Layered deposits like iron ore and bauxite appear to yield higher in-ground value returns on the exploration dollar. To some explorationists, this may be considered as seemingly obvious, but it may have more to do with very large-exploration tenement grants pursued by various Australian State Governments in the early 1950s and 1960s than the apparent ease of delineating a stratabound deposit.   Despite the apparent relatively low in-ground value produced by the gold exploration dollar of $22, the 5660 tonnes of gold discovered in this ten year period was worth $9.1 billion and representing over a quarter of the new mineral wealth created in the ten years to 1996. This contribution, along with that from the other minerals discovered over the period, led to a significant boost to Australia's export income and standard of living.   It is concluded that, given the nexus between the amount of mineral exploration expenditure and the quantity of new resources likely to be discovered, this knowledge may help policy makers seek to influence the rate of resource discovery in countries like Australia for the benefit of the nation.

Jan 1, 2004

The gold salting fraud at Busang on the island of Kalimantan, Indonesia was exposed in early 1997 and resulted from the independent drilling, sampling and assaying of PT Freeport Indonesia which reported assays from the South East Zone with negligible concentrations of gold. Since then, a number of legal actions directed at former Bre-X directors, consulting firms and financial or broking institutions are at various stages and are based on numerous allegations surrounding the supposed existence of obvious and numerous warning signs or æred flagsÆ. These include: the absence of references to visible gold in the drill logs; the alluvial nature of the gold grains; the high gravity recoveries; the invalid comparison with Kelian; the absence of outside scrutiny and the lack of external review/audit and surface depletion of gold. The focus on the red flags has been at the expense of the numerous positive indications or ægreen flagsÆ. These include the morphology and chemistry of the gold grains, the gravity testwork, the amalgamation results, the role of external consultants, the results of a review by one of North AmericaÆs leading minerals auditing groups, the behaviour of the gold at surface and the presence of references to visible gold in the drill logs. The flawed nature of the discussion of the technical facts surrounding Busang has prevented a meaningful and informed discussion about what actually happened and has, therefore, prevented the formulation of meaningful remedies for the future.

Jan 1, 2002

The Winton Basin is one of three Southland sub-basins. The oldest known sediments are Early Oligocene terrestrial shales, sands and lignites deposited in half grabens formed as a result of oblique extension. A marine transgression in the Oligocene deposited mid-outer shelf to upper bathyal mudstones. Shallowing of the basin and tectonic quiessence lead to limestone deposition in the Early Miocene. Regional tilting led to uplift in the north and east and deposition of terrestrial lignites and gravels across the basin and the basement high to the south.

Jan 1, 1992

Active geothermal fields show many of the characteristics seen in hydrothermal ore deposits but there are important differences as well. There are, for example, many differences in geology and chemistry between individual geothermal fields, even some nearby, and these include variations in host rock types (volcanic, sedimentary, plutonic and metamorphic), structures controlling fluid flow (normal, lateral, and, rarely, reverse faulting occur) and hydrological setting (valleys to elevated terrain).

Jan 1, 1986

By G Hayes

Ore from the Browns deposit near Batchelor, in the Northern Territory of Australia, is a fine-grained polymetallic sulfide ore hosted in graphitic black shale. Minerals of economic significance are seigenite (Co,Ni)4S3, Galena (PbS) and Chalcopyrite (CuFeS2) with minor Sphalerite (ZnS). Gangue minerals include quartz, carbon and K-feldspar. The grain size is fine, with a significant amount of the seigenite present as Early flotation work determined that a grind size of around 20 microns was required to achieve clean sulfide concentrates. This work recommended oil agglomeration flotation, in which small sulfide minerals were collected, then loosely agglomerated with oil ahead of flotation into a heavily mineralised froth. In the 400 kg/hr prototype plant this froth proved unmanageable. A conventional flotation circuit after grinding to a P80 of 24 microns and using very low flotation pulp densities resulted in an 86 per cent cobalt recovery.The paper analyses further laboratory work which has increased cobalt recovery to 91 per cent by grinding to û250 microns ahead of flash flotation. The real cobalt recovery breakthrough comes from flash flotation of the whole mill discharge rather than the more usual flash flotation of cyclone underflow. Flash flotation tailings are ground to û38 microns and are floated under normal flotation conditions with only the scavenger concentrates being reground to 20 microns.A one tonne per hour prototyping campaign is scheduled to demonstrate the robustness of this circuit.

Jan 1, 2002

By K H. Esbensen, A Arkenbout

In the north of the Netherlands, in the environment of Harlingen, an industrial waste incinerator was installed in 2011. The population in the region is concerned about adverse health effects related to possible emission of dioxins. This study compares the relative merit and reliability of four sampling approaches aimed at quantifying the possible pollution patterns surrounding the incinerator: short-term versus long-term isokinetic flue gas sampling, spatial sampling of grasses and a novel approach developed by the Toxicowatch Foundation, based on local composite sampling of ten eggs from backyard chickens (local area pollution load averaging by accumulating bio-entities). Based on the latter approach results of a new analytical bioassay, DR CALUX®, from 15 locations near Harlingen harbour show distinct above-threshold dioxin levels in the environs of the incinerator. Currently only short-term flue gas sampling is mandated by the authorities; based hereupon, under normal operating conditions, the incinerator appears to be compliant with emission standards. This short-term sampling scheme is seriously flawed, however, in that it only demands one continuous 12-hour sampling period per annum – an extreme grab sampling transgression in the time domain. In starkest possible contrast, significantly elevated dioxins emissions were measured in flue gas during events of unstable combustion conditions by continuous long-term measurements. The dioxin congener patterns from long-term flue gas sampling show similar patterns as the congeners found in backyard chicken eggs and grass, evidence that elevated dioxins in eggs is due to emissions from the incinerator. These results make it mandatory to perform long-term, continuous measurements for all sources where similar high-temperature combustion/emission processes take place. Backyard chicken eggs are a prevalent regional bio-accumulating sample type in rural and agricultural regions, which is relevant to air pollution emission monitoring. There are interesting relationships between this type of sampling bio-sensors and the special bioassay DR CALUX® features, which, although quite outside traditional contexts, never-the-less all can be well understood in the context of the Theory of Sampling. We venture to unravel the complex interactions between correct and incorrect sampling errors and the extraordinary complicated analytical issues involved in monitoring and source tracking using accumulating bio-sensors. The present contribution is but a first foray indicating the general total sample error scope and total analytical error framework needed for this approach.CITATION:Arkenbout, A and Esbensen, K H, 2017. Sampling, monitoring and source tracking of dioxins in the environment of an incinerator in the Netherlands, in Proceedings Eighth World Conference on Sampling and Blending , pp 117–124 (The Australasian Institute of Mining and Metallurgy: Melbourne).

May 9, 2017

The Ross Goldfield is a unique gold resource. From its discovery in 1865 there was a growing understanding of the geology of the deposit as mining moved from the surface at Jones Flat in the south to underground extraction at Ross Flat further north. Multiple layers of gold-bearing gravels were penetrated in deep shafts and six rich gold-bearing bottoms were worked. The ultimate bottom on the Old Man Group gravel surface has never been reached either at Jones Flat or at Ross Flat. Mining at Ross Flat was ultimately halted by uncontrollable flooding, by escalating costs and by a shortage of labour during the First World War. Mining at Jones Flat recommenced in the late 1980s and attention has once again been drawn to the potential magnitude of the resource at Ross Flat. Research of historic literature shows that there is potential for a bulk gold grade of 400 mg/m3 in a volume of 82 million cubic metres of gravels which lie in a basin between Jones Flat and north Ross.

Jan 1, 1993

This paper examines the issues involved in the technical audit and valuation of exploration prospects. Certain methodologies are more appropriate to use depending upon whether the mineral property valuation is of an exploration area, a project under development, or an operating mine. Valuation approaches that are reviewed include the Multiple of Exploration Expenditure, Joint Venture Terms, Rules of Thumb, and particularly the Kilburn Rating Method. The DCF/NPV Financial Simulation Method, even modified by the use of Expected Values, is not considered appropriate for valuing exploration prospects. The choice of the most appropriate methodology and its successful application depends primarily upon the amount of reliable input data available and, more importantly, the experience and judgement of the valuer. It must be remembered that all valuations are time and circumstance specific and will be generally subject to revision as more data becomes available.

Jan 1, 1993

Evaluation of the Iron Blast Furnace Process using Heat and Material Balances of the Flame-Zone

Sep 13, 2010