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By B, G Strobos, J P. Maree, N Smit

In mining and processing operations where minerals, high in pyrite and low in calcite/dolomite are processed, acid is generated, which needs to be neutralised. Ticor at Empangeni in South Africa (SA) produces rutile (TiO2), leucoxene (TiO2 plus iron compounds), titanium (Ti), zircon (Zi) and ilmenite (TiO2 plus iron compounds). Neutralisation is required in the processing plant where acid is leached into the wash water. This water needs to be treated to a quality suitable for re-use in the metallurgical process or to a higher quality to make it suitable for discharge into the Empangeni sewage system (SA). For re-use the water needs to be neutral and under-saturated with respect to gypsum while for discharge into the sewage system the sulfate concentration needs to be reduced to less than 500 mg/L (as SO4). Acid mine water is generally neutralised with lime. Disadvantages associated with lime are the costs and maintenance of the slaking equipment as well as hazards, associated with handling of the alkali. The cost of powdered limestone (CaCO3) in South Africa, a by-product, is 50 - 60 per cent cheaper than lime. A technology has been developed where limestone is used for neutralisation of acid mine water instead of lime. This development includes: Limestone handling and dosing system. A novel, robust system has been developed where waste CaCO3 from the paper industry is slurried to a constant density. A full-scale plant was constructed to evaluate its performance (Figure 4). The dosing system consists of an inclined slab onto which the limestone is stored and from where it is slurried into a make-up tank. The density of the slurry in the make-up tank is controlled via a loadcell that measures the weight of the tank (operated at constant volume) and activates/deactivates the spray of the recycle slurry onto the slab. Integrated limestone neutralisation/lime treatment process. In this process powdered CaCO3 is used for neutralisation and partial sulfate removal of acid leached from the coal washing plant. The sulfate concentration can be further reduced to below the saturation level of gypsum (ie 1200 mg/L) through gypsum crystallisation by means of lime treatment, resulting in metal precipitation (eg Fe3+ and Al3+). CO2- treatment for CaCO3 precipitation. The pH of the lime treated water can be adjusted to pH levels of 8.5 and lower using CO2. The CO2, generated during limestone neutralisation (Equation 2), can be captured and used in this stage of the process. The first two stages (limestone- and lime neutralisation) of this technology have been implemented on full-scale at Ticor to treat the effluent of the process. The constructed plant is 80 m3/hr and differs from coal processing plants by way of not containing Fe(II) and Fe(III) in the water. The CO2-treatment stage (Stage 3) will soon be implemented at IHM as part of a program to optimise the technology for maximum benefits.

Jan 1, 2003

By Young D. R, Webb I. D

The hydro-chlorination of Fe2O3 and Fe304 has been investigated in the range 850-950¦C in order to elucidate the role of iron in the segregation process for nickeliferous laterites. The kinetics of Fe203 chlorination using 20% HC1 - 80% N2 gas mixtures is consistent with a single-stage structure control model, whereas Fe3O 4 exhibits a two-stage reaction mechanism. Oxygen potential measurements using a CSZ probe located above the bed and X-ray powder diffraction results confirm the proposed reaction scheme. When a serpentine nickeliferous laterite (1.03% Ni - 11.7% Fe) was chlorinated at 900¦C with a 20% HCl - 80% N2 gas mixture it was found that the iron oxide in the ore was extracted in a similar manner to the synthetic iron oxides. Also, it was found that the nickel extraction from the ore paralleled that of the iron and the tests indicated that for the major part of the extraction, the solid nickel species were in equilibrium with the gas phase. The recovery of nickel from laterite ores by the segregation process has been investigated by a number of workers and several extensive reviews of the literature associated with this field have been published (Iwasaki, 1972; Canterford, 1975; Wright, 1973).

Jan 1, 1987

Most new engineers in the mining industry do not realise the importance of legal obligations. During investigations the first question you are asked is: Do you have any proof or evidence? The smallest detail in an underground notebook or a diary entry is able to be used as your proof and/or evidence. The importance of a paper trail is often undervalued and overlooked when you first enter the industry. As a new engineer, all too often your legal obligations, including your duty of care are not given enough consideration. Whose job is it to inform you of what your legal obligations are and when do they end? Everyone has legal obligations at every level of the industry, from graduate to mine manager. The level of these responsibilities varies depending on the position that you hold. When you first start in the industry you need to understand what your responsibilities are and how you are expected to discharge them, whether they are memos, databases or senior sign-offs, etc. In order to fulfil your obligations you must first discharge your own obligation, which in turn discharges those of your department and ultimately those of the mine. As a graduate engineer in the mining industry what I have learnt about my own legal obligations has come directly from my own experience, which will form the basis of this paper.

Jan 1, 2007

By C Moorhead, J Jones

A common problem in the mining industry is that company geologists can operate in relative isolation to the rest of the company (Jones and Moorhead, 2011). This may result in poor knowledge transfer and often priority conflicts with geology, operations and project departments. This problem is amplified by the acquisition of mineralogy capabilities and other metallurgical (met) test work undertaken by many companies in order to solve for complex orebody problems. Met data is often not located and viewed in 3D space so that geologists and engineers can create and work with geometallurgical (geomet) models (Bye, 2006). Visualisation of data in an interactive graphical 3D model provides a bridge enabling met professionals to collaborate with engineers and geologists to provide a common understanding of the relevance of geomet data.In recognition of this problem, Newcrest has undertaken an effective collaboration strategy to improve internal and external engagement through the use of large visualisation displays (Jones, 2009). The displays are underpinned by IT systems and information management practices that recognise the needs of underlying disciplines. Today it is generally understood within Newcrest that this is required to improve decision-making, deliver faster cycle times and improve governance.Collaboration in companies has been generally associated with the introduction of new IT functions (IBM, 2008). However, the science and engineering process that are used to structure modern IT-based collaboration systems and practices are now known to be simplistic compared to the long-standing practices associated with collaboration and knowledge management in disciplines such as geology and mining.CITATION:Jones, J and Moorhead, C, 2013. Geometallurgical communication as a distributed information system, in Proceedings The Second AusIMM International Geometallurgy Conference (GeoMet) 2013 , pp 133-138 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Sep 29, 2013

By I Brandes de Roos

Water has played a key role in the Pilbara’s 60-year history of iron ore operations. In contrast to many of the current-day mining environments, iron ore mining was initially hosted by geological formations that were typically above the water table. Such mining operations required no dewatering or dewatering at rates that were less than mine and mining township requirements. The challenge for these operations was not pit dewatering but water supply for mining operations and municipal supply for nascent mining towns.The current industry sees new deposit styles being increasingly targeted, including channel iron and Marra Mamba Formation deposits. These deposits are often lower in the landscape and can require extensive dewatering. Furthermore, increased water demand for ore beneficiation has resulted in major programs of water-supply borefield development. Added to this is the emergence of magnetite projects and their significant levels of water use in ore beneficiation.The large volumes of water that are being extracted to support Pilbara iron ore mining is attracting attention. The Western Australian Department of Water has recently commissioned a study to assess the potential use of surplus mine water as a medium- to long-term supply for irrigated agriculture.This paper outlines the changing landscape of water management in Pilbara iron ore operations and explores strategies for maximising mining productivity. Water management is presented as an enabler for productivity improvements that can potentially provide long-lasting benefits post-closure.CITATION:Brandes de Roos, I, 2015. Shifting waters in the Pilbara’s iron ore industry, in Proceedings Iron Ore 2015, pp 507–510 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Jul 13, 2015

Australia today is one of the leading countries in the fields associated with the mineral industry, an industry which accounts for over 50% of overseas income and revenue to government. This is no accident. In order to be competitive in what was recog- nised very early in the country's history as a highly profitable busi- ness, the Australian mineral industry (mining, extractive and refining metallurgy) has traditionally been very innovation con- scious, a characteristic which has been evident from the begin- ning of the industry or very nearly so: Australia's geographic isolation and the dispersion of the mineral industry over wide distances made an exchange of ideas difficult and often impossible. One needs only to look at the inaugural address given by Sir Henry Ayers, the first president of the then Australasian Insti- tute of Mining Engineers, in Adelaide on 4th April, 1892 (1) "There is probably no other pursuit which depends more on its productive development and profitable results than in the extent and application of the scientific and mechanical knowledge possessed and exercised by its manager." and "Having in view the value of the mining industry of Austral- asians, they should be urged to apply their best skill with all the scientific and mechanical knowledge obtainable to its future development."

Jan 1, 1988

By Laing W. P, Neill D. M, O&apos

The Reward polymetallic massive sulphide deposit occurs 35 km south of Charters Towers, adjacent to the Highway gold deposit (Fig. 1). It is hosted within rhyolitic lavas and interlayered volcaniclastics of the Cambro-Ordovician Mt Windsor Volcanics. Reward is a "blind" deposit discovered in 1987 after a long history of exploration by various companies in the area. The main pyrite dominant massive sulphide body occurs under 100m combined thickness of Tertiary fluviatile sediments overlying deeply weathered gossanous volcanics. The exploration case-history provides a striking example of how geological and structural models can be built up almost exclusively from drill information. Four different styles and ages of mineralisation are present: 1) volcanogenic Cu+Pb+Zn+Ag+Au massive sulphides of probable syngenetic origin; 2) remobilised Cu+Au in massive pyrite of metamorphic/deformational origin; 3) supergene and 4) oxide Cu+Au mineralisation of weathering origin. The massive pyrite body, containing chalcopyrite lenses, transects the stratigraphy and is inferred to contain in excess of 5 million tonnes. Overlying the primary mineralisation a supergene chalcocite rich zone contains a measured/indicated resource of 634,231 tonnes of 6.77% Cu which includes 287,000 tonnes of 1.32 g/t Au and 18 g/t Ag. In addition a measured/inferred oxide resource of 309,000 tonnes of 5 g/t Au and 27 g/t Ag overlies the supergene zone.

Jan 1, 1989

The HYC mineral deposit at McArthur River is about 1.5 kilometres long by 1.0 kilometres wide and 55 metres thick, and contains 227 000 000 tonnes of ore of average grade 9.2% Zn, 4.1% Pb and 41 g/t Ag. Major studies have been carried out continuously since 1955 over the deposit and in the general region. This work is continuing. A small underground mine was developed by driving a decline tunnel to intersect the mineralization 80m below the surface. This provided a fully representative sample of the total deposit unaffected by weathering or oxidation, and was available for the major test program carried out in a pilot plant built to determine the full metallurgical charac- teristics of the ore. The pilot plant operations followed investigations by research institutions, both in Australia and overseas, into the problems of this ultra-fine grained ore. The ultra-fine grained nature of the ore required grinding to an average size of 95% passing 37 micro metres or 400 Tyler mesh. A major feasibility and environmental report was submitted to the government covering all aspects of a development program. The geological, engineering, metal- lurgical, economic, cultural and environmental submissions contained in this report were studied by external consult- ants employed by the government, who agreed with the conclusions that the McArthur HYC deposit is at present Uneconomic.

Jan 1, 1984

Leaving the relatively simple life on a uni student and venturing off in to the outside working world is a big step. There are two paths to follow, the æContikiÆ style graduate program where you pick up your new lease vehicle and set forth on two to three years of planned activities, or can pack everything into one bag, stick a copy of æthe rough guideÆ in your pocket, and set off on your own graduate adventure. I took the path less travelled.The less followed method of developing yourself isnÆt for everybody. Parts of the journey are difficult and sometimes it feels hopeless, but itÆs all a learning experience. Along the way you might not get to all the graduate ætourist stopsÆ like dragline, truck-shovel, or drill and blast. But youÆll see most of them and pick up a lot more of the local culture such as people management, operational knowledge, quality control, and the black arts of project financial management.

Jan 1, 2004

Early efforts to control the dust necessarily produced during dry crushing operations, took the form of venturis at loading chutes and other places where dust was most evident. These venturis discharged to the atmosphere and for obvious reasons were not very satisfactory.Attempts to collect the dust drawn off by the venturis, using dry cyclones, were not successful, the cyclones catching only the coarser particles. Further, no satisfactory method of continuously discharging the dust catchment was evolved. Water sprays were also used, and will be referred to later.In 1940, a single discharge fan of 3,000-4,000 cu. ft. per minute capacity, was installed to draw the dust-laden air from the Symons crushers and ·screening sections with their attendant conveyors. Suction was through two 15 in. ducts which branched off into 10 off-takes situated over the conveyers at points of discharge from crushers and screens.A dry cyclone was installed in front of the fan, which exhausted into a bag-house.The cyclone suffered from the defects of the smaller units mentioned earlier. When the collected dust reached a certain level in the cone, no more collection would take place until the cone was emptied. This objectionable feature was overcome by introducing a jet of water ahead of the cyclone. The water and dust collected overflowed a weir and were pumped to the mill.

Jan 1, 1948

By S Juras

The terms measured resources and proven reserves denote the highest level of estimation confidence in all of the major classification schemes. But what do they really bring to today’s project or mine with respect to production planning and expectations? Initial reserve declaration does not need measured resources, just indicated resources. Economic viability of a project is assessed on total reserves with nary a bonus for the amount of proven reserves. Production plans are based on grade and tonnage goals that may only coincidently correspond to proven reserves. So are the measured and proven categories still relevant? Historically, and almost exclusively in underground mines, companies only allowed mining in areas of proven reserves. Some companies still follow that philosophy. But many others will mine a mixture of probable and proven reserves without hesitation. Also what of the undeveloped project in a new district – what is to be made of their declared measured resources and proven reserves? Measured resources are commonly set either by some type of proximity to data scheme or a matter of ‘feel’ based on the qualified person’s experience. The parameters for reserve conversion focus on the project as a whole and then a portion becomes classified as proven reserves almost solely based on whether the resource category is measured. So should the mining industry continue to use these categories of resource and reserve classification? This paper will present arguments about making these categories once again more relevant. A more disciplined usage of these categories may re-introduce their relevancy in public disclosures of resources and reserves. As well a more consistent usage in operations may lead to increased confidence in managing production targets and costs.

Aug 22, 2011

By Dixon D. R, Sparrow G. J

Pressure leach liquors from the pressure oxidation of a bulk flotation concentrate prepared from a complex Cu-Pb-Zn sulphide ore were treated to remove iron, either by pressure oxidation (the Hematite process) or with particles of magnetite (the Magnetite process), followed by cementation of various metals with zinc dust to obtain a purified solution from which zinc was electrowon. Satisfactory iron removal was achieved by both processes after neutralisation to pH 4.5 or 5.5. Pressure oxidation of the liquor at 200¦C and 690 kPa oxygen overpressure, conditions similar to those of the Hematite process used in the zinc industry, resulted in the precipitation of the iron as hematite. With the Magnetite process, an iron hydroxide was precipitated onto magnetite at atmospheric pressure and ambient temperature and removed by a magnetic separation step. The performances of both these processes for the removal of iron are compared. It is concluded that the Magnetite process offers considerable cost savings. Other impurities, in particular arsenic, were also removed with the iron in both processes. Cementation at pH 5.2 and 85-90 ¦C with 3.5 g/L zinc dust reduced the levels of copper, cadmium, and nickel to a satisfactory level and subsequent electrolysis in a laboratory cell gave an acceptable deposit of zinc.

Jan 1, 1989

By T Alexieva

Since the early 1900s the geotechnical community has investigated every significant failure of a tailings dam, improved our knowledge of the behaviour of the tailings storage facilities, developed analysis methods, compiled lessons learned, and committed to zero failures. The rate of occurrence of tailings dam failures has reduced since the 1980s, however, failures continue to occur and continue to surprise us. At BHP, we have decided to take an approach to the tailings management that is similar to the approach to safety. We are looking at ways to eliminate, substitute, separate or engineer around the hazard (tailings dam failure). As such, our ultimate long term goal would be to eliminate the need for new tailings facilities. Unfortunately, we have not developed yet technologies for extracting many of the common metals and minerals without producing tailings. Our shorter term goal is to substitute the current conventional slurry tailings facilities with less risky dryer facilities. We are working with vendors and research organizations to develop technologies that can be efficiently applied on a large scale. At the same time, we are committed to using the best available engineering to reduce the risks associated with our existing and new conventional tailings facilities. The best engineering can be achieved by people with the appropriate education, experience, attention to detail, discipline and authority. We have implemented a system of governance to make sure, we have the best engineering applied to all our facilities, considering the specific conditions at each site.This paper presents the current tailings governance process at BHP, and the initiatives that were undertook towards achieving a zero failure goal. CITATION:Alexieva, T, 2018. Tailings governance, in Proceedings Mine Waste and Tailings Stewardship Conference 2018, pp 2–7 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Jul 23, 2018

By A Crawford, P Manton

Telfer is a gold/copper operation, currently operating one open pit mine and one underground mine. The ore processing plant consists of two parallel trains involving semi-autogenous mill, ball mill and crusher (SABC) grinding, flotation and leaching. Due to receiving relatively high grade underground ore for over half of its total feed, Train 1 frequently experienced cleaning circuit overloading during high production periods. This resulted in losses in recovery and ineffective concentrate upgrade. As a quick and simple solution, the Train 1 copper flotation circuit was reconfigured to send concentrate from the first two rougher cells directly to the final concentrate and return the cleaner scavenger tailings to the third rougher cell. These modifications have resulted in a 1.4 per cent increase in plant copper recovery with no change in final concentrate grade. Preliminary results also indicate gold recovery has increased by more than 1 per cent since the circuit reconfiguration. Other benefits include less spillage, more friendly circuit to operate and a more consistent metallurgical performance. Focus for the next phase of optimisation is on concentrate upgrade. A number of opportunities have been identified and are currently being investigated, including staged reagent addition, single stage cleaning of the first two copper rougher concentrates, regrinding of the remaining copper rougher concentrate prior to cleaning and process control based on a machine vision system.

Jan 1, 2009

By M Ben, P de Donato, M Kongolo

The extensive literature on sulfide flotation indicates that pyrite poorly floats under alkaline condition. Xanthate concentration has a positive effect on pyrite flotation, but above a pH of 11, pyrite seems to be strongly depressed, independently of the concentration in xanthate. In this investigation, aeration and xanthate concentration effects were studied for pyrite flotation conditioned at pH 11 with lime. Results presented in this paper include surface infrared analyses and pulp chemistry measurements which have showed that aeration had a dual effect on pyrite flotation. It induced pyrite surface activation by oxygen, and oxidation of ferrous iron to ferric hydroxides or oxyhydroxides species. It also favoured dissolution of CO2, leading to calcium carbonate precipitation and adsorption onto pyrite surface. Both CO2 dissolution and ferrous oxidation generated protons and decreased pulp pH. Pyrite flotation was observed to be effective with a statistical monolayer of xanthate that could be adsorbed as mixture of dixanthogen and metal-xanthate complex. Non-floated fractions showed high amounts of carbonate, and presence of hydroxyl iron sulfate (Fen(OH)m(SO4)p, xH2O) which have inhibited the hydrophobicity effect of adsorbed xanthate. Environmental desulfurisation could be improved by aeration control causing pyrite oxidation and pH decrease to reach optimal flotation condition with a relatively low xanthate concentration.

Jan 1, 2005

By De Cuyper J

Laboratory testwork has been performed on ancient residues from the cyanidation of a previously roasted gold-containing pyrite and arsenopyrite ore. By grinding to 95 per cent minus 60 microns, and after a strong aeration conditioning of the pulp, a gold recovery of approximately 67 per cent was obtained by cyanidation. This recovery was brought up to 80 per cent by leaching with thiourea, after a preleaching step with sulphuric acid under severe conditions of acidity and temperature. To avoid excessive capital costs bound to such processes, it was decided to investigate the possibility of applying flotation after grinding at a size similar or finer than the one used for the leaching tests. The method turned out to give interesting results because of the natural flotability observed at pH values lower than two for particles rich in gold present in the residue. After two cleaning steps, a final concentrate, representing around one weight per cent of the feed, was obtained with an approximate gold content of 350 g/t, representing a batch recovery of gold of about 50 per cent. Apart from sulphuric acid, whose addition was very high (flotation slurries at 25 g/l H2SO4), other reagents were not found necessary. Additional flotation tests were carried out to examine whether the recycling of the cleaner tails was justified but the gain observed appeared insufficient.

Jan 1, 1993

By S F. Cox

The development of low displacement, moderate to high-angle reverse faults during the formation of the Argo gold deposit within a tholeiitic gabbro host-rock involved a four stage evolution of deformation and associated hydrothermal alteration. Fault zone evolution and Au mineralisation were associated with high fluid flux, fault-valve behaviour in a severely misoriented fault zone. The far-field maximum principal stress was approximately east-west and horizontal, and the far-field minimum principal stress was subvertical. The fault system developed at approximately 400¦C in a transitional brittle-ductile regime. Initial Stage 1 deformation involved ductile shear and the development of potassic (biotite-rich) alteration assemblages and associated reaction-weakening in shear zones; minor quartz extension veins were formed. Stage 2 is marked by the onset of predominantly brittle shear failure, the widespread development ofmatrix-supported breccias in fault zones and a change to sodic (albite-carbonate-quartz) alteration styles. Extension veins have limited development. Stage 3 is also dominated by brittle shear failure and characterised by a change to quartz-carbonate assemblages in fault-fill veins and breccias. However, large arrays of extension veins are also well-developed adjacent to faults. In Stage 4, widespread subhorizontal quartz-carbonate-biotite extension veins were developed, but shear failure was limited. This is an ABSTRACT only. A full-length paper was not prepared for this presentation.

Jan 1, 2008

By OÆNeil G. R

The gold adsorption capacity of ash-char and ion exchange resin Zerolit F.F. (I.P.) was evaluated by obtaining Freundlich isotherms in the presence of selected variables. It was found that the presence of Na , 2+, Ca 2+ cations and SO4 , CN , S Z, 0 2- Zn anions prompted adsorption of gold onto the char and reduced gold adsorption capacity of the resin. Temperature, particle size of adsorbent and pH of solution were found to influence the gold adsorption capacity of char and the resin. The most efficient desorbent for gold adsorbed on the ash char was S2 ions. Optimum sulphide concentrations were found in the region of 1% Na2S. Investigation into the concentration of gold from actual carbon contaminated gold residue dumps in Kalgoorlie area onto ion ex- change resin showed limited success in one case and not so in another. Maximum gold adsorption by the resin appeared when cyanidation and sulphidization treatments were carried out simultaneously in the presence of the resin.

Jan 1, 1979

By J Boshoff

The management and operation of tailings storage facilities (TSFs) are often neglected until the process plant has to shut down as a result of this negligence or as a result of a catastrophic failure as was the case during the recent TSF failure in North America.TSFs are often regarded as non-assets and do not receive the attention they deserve in terms of technical expertise and financial provision. A TSF is not a simple structure but a complex and dynamic structure that changes throughout its operational life. The operational life of a TSF is the period in which there is the greatest opportunity for risks to occur. The failure of a TSF is normally not as a result of a single event but as a result of a consequence of events. These events are often not recognised in time due to a number of factors.Process plants and slurry pumping systems are operated at suboptimal conditions in order to maintain throughput. At the same time, the tailings properties are compromised in terms of slurry density and particle size distribution amongst other things. Tailings deposition cycles and drying cycles are not well understood and the tailings management strategy is not well tuned in terms of maximising consolidation and improving in situ densities. Pond control is also neglected. These are aspects that form the keystone to the effective utilisation of available deposition area as well as the frequency and cost of future embankment raises.Apart from operational issues, forward planning in terms of budget requirements, increases in tailings throughput, embankment raises, pipe replacements, etc are normally put on the back burner. Available deposition space at the time seems to render this planning obsolete.The bottom line is that responsible tailings management and proper forward planning can limit liability and reduce the bottom line in terms of cents per ton if correctly implemented by suitably qualified tailings managers and engineers.The aspects that need to be considered as part of responsible tailings management are highlighted in this paper.CITATION:Boshoff, J, 2015. Responsible tailings management, in Proceedings Tailings and Mine Waste Management for the 21st Century , pp 317–322 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Jul 27, 2015

By L I. Rozman

"There have always been development projects that fall short of expectations. In the last decade, we have seen more than the usual number of mining and oil/gas development projects taking significantly longer to develop and costing materially more than expected. The recent resource-equity market slump proves that investors are now far more cautious about investing new capital in the mineral and petroleum resources sector.What have we learned since 2005? Why have projects missed their targets? Why do investors often feel misled?Valuation of a project and the estimation of value is a more complex process than the evaluation of the merits of project development. The merit of project development can be clear from a prefeasibility evaluation, but this is no reason to skip the rigour of a feasibility study. The valuation of any project that is developed with any added risk should be discounted for this added risk.The development of a project impacts on other stakeholders, and the indirect cost of these impacts can have material implications for the cost structure, time and ultimate valuation of the project for its financial backers. The development of new projects (and thereby supply) can also have an impact on commodity prices, and therefore an impact on returns for financial backers.This paper will provide commentary on the author’s experiences and observations as a project developer and operator for 25 years, before becoming a project financier a decade ago.CITATION:Rozman, L I, 2016. Project evaluation and valuation – an investor’s golden rule, in Proceedings Project Evaluation 2016, pp 31–36 (The Australasian Institute of Mining and Metallurgy: Melbourne)."

Mar 8, 2016