A pivotal innovation priority for Australia

Australia ASTER Ferric Content_300dpismall (1)For those of you that missed AMEC’s 04 May media release here it is again – It sounds like good news and a $100 million won’t go astray, or will it? Please feel free to share and comment.

The allocation of $100 million to Geoscience Australia to produce pre-competitive data for the Exploring for the Future program is excellent news and is applauded.

Exploration geoscience must be central to the nation`s innovation agenda. Australia has a competitive advantage in resource development and must seize the opportunity for science and innovation, together with vital new capital investment in exploration, to improve discovery rates in Australia.

To compliment the extra geoscience funding AMEC would like to see a long term rollover and additional annual commitment to the Exploration Development Incentive (EDI) in the Forward Estimates in order to stimulate investment in eligible Australian junior mineral exploration companies who would be able to provide shareholders with a tax offset equivalent to the company tax rate.

The production of pre-competitive data by Geoscience Australia, the State and Territory Geological Surveys and the EDI are inextricably linked if we are to improve exploration outcomes and provide new mines for future generations.

These strategies are also vitally important recognising that a number of large producing mines are coming to an end and not being replaced at a fast enough rate.

New mines will create thousands of jobs and generate significant economic and social dividends for the nation and local communities. The Government should also consider its role in unlocking resource projects that are ‘stranded’ due to the lack of cost effective infrastructure (power, port and rail), approvals delays or access to finance. These need to be facilitated or fast tracked where possible.

The enterprise tax plan to reduce the corporate tax to 25% for all Australian resident companies by 2026/27 is a significant step in the right direction, but needs to be implemented sooner to be a clear incentive for job creation and an economic boost throughout the nation.

The sensible plans to cut waste, reduce unnecessary spending and red tape in Government are essential, as there are limited opportunities to increase revenue in the current economic environment. These initiatives have to be a feature of the Government`s Budget and Forward Estimates. There cannot be a ‘business as usual approach’, as times have changed considerably.

All Australian mining and exploration companies have had to implement savings and efficiency measures on a daily basis to control cash flow and keep their operations going. The Government has to do the same.

Media source: Media release:- Association of Mining and Exploration Companies (AMEC)

https://www.swiftpage1.com/speasapage.aspx?X=2T0XA6ASIMY1W3DW00ZNW9

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Data intelligence, integration and new technology are changing the mining industry

Data intelligence, integration and new technology such as advanced robotics are changing the mining industry.

Data intelligence

In an attempt to preserve profit margins in a bleak market, mining giants such as BHP Billiton and Rio Tinto have began employing automated drills and driverless trucks to assist with production. Previously, Business Review Australia reported how Rio Tinto has begun using drones to help its mining efforts.

As smaller mining companies have been forced to close due to the 28 per cent productivity collapse over the past 10 years, the new technology helped Rio Tinto reduce costs by eight per cent since 2013, even though the company increased output by five per cent.

As the demand for iron ore in China — the world’s largest user — continues to slow, price will most likely fall with it as major suppliers expand output by using lower-cost reserves. The use of autonomous machines will see the top four mining companies have their global market increase from 64 per cent in 2010 up to 79 per cent in 2018.

When Rio Tinto released its “Mine of the Future” program back in 2008, commodity prices were rising to record highs. The goal was to efficiently use more autonomous technology to access more iron ore while improving safety for employees.

After using just 10 driverless trucks in 2012, Rio has now expanded to 66. These vehicles can run all day without a driver who needs to take lunch or bathroom breaks.

According to Caterpillar chief engineer of mining technology Michael Murphy, autonomous vehicles can save over 500 work hours a year since one worker can monitor as many as 50 driverless trucks.

Autonomous drills in underground mines are even more profitable, as employees using normal equipment not only take significant time walking from the opening to the work site, but are operating in dangerous working conditions as well.

And the rest of the mining industry is catching on. According to a survey by International Data Corp., about 69 per cent of 190 mining companies are considering remote-control equipment, while 29 per cent are considering an increased use of robotics.

Whether we like it or not, machines are becoming more and more prevalent in today’s world.

Original article by Eric Harding of Australia Business Review, view original article here

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Expedio Top Tip – Azimuths and Magnetic Drift

Azimuths and Magnetic Drift

Expedio’s Top Tip for April understanding Azimuths and Magnetic Drift:

DataOcean

Managing azimuths and magnetic drift is very important in maintaining the integrity of your downhole survey data.

Steps in managing azimuths and magnetic drift correctly:

  • Correctly reference azimuths recorded – Is the reading measured in True north, Magnetic north or Grid north. Incorrectly collecting and storing this data will have a massive effects on the quality of the data set.
  • Know the magnetic north to grid north conversion – Magnetic declination tells you the direction of magnetic north, measured from true north, and convergence tells you the direction of grid north, measured from true north. For example countries such as Brazil  have a 23 degree swing between national grid north and magnetic north. Get this wrong and you will miss your target.
  • Be aware of magnetic drift –  Variations in the Earth’s outer core results in changes to the magnetic field and hence the position of the magnetic north and south poles over time.

 

Is the worst over?

Is the worst over?

BoomCrashClock

Resource stocks have been rallying in recent weeks, with miners across all sectors – even the bottom end – enjoying gains.

Australia’s largest resource stock, BHP Billiton, hit a 2016 high today by rising more than $A20 – quite impressive when you consider the stock was threatening to fall below $14 in January.

While gold players have come off the boil, with many reaching 2016 (or in some cases, all-time) highs last month, almost all are much higher now than their 2015 closing prices.

Morgans analyst Adrian Prendergast noted this was the second re-rating event in resources to occur so far this year.

“The injection of positive sentiment has been enough to help commodity prices stabilise, which in turn we expect will be enough to pull us out of the downgrade cycle that has been undermining confidence in resources,” he said.

Prendergast noted that the improvement in some commodities had caught many by surprise.

Many thought the gold price was destined to dip below $US1000 an ounce this year, and there was almost no one who would have tipped an iron ore price of $60/t.

“We expect sentiment had become weak to such an extent that we are now likely to see a widespread ‘relief rally’ unfold across the sector, which could continue in fits and spurts throughout the remainder of 2016 carrying commodities to more sustainable (higher) levels.”

ANZ Research noted last week that while commodities had been one of the best-performing asset classes this year, the issue of oversupply remained, particularly in iron ore and coal.

“Whether commodity markets continue to move higher from here or suffer a reversal will be dependent on supply,” ANZ said.

“The recent rally raises the risk of previously curtailed supply being reactivated. In markets such as industrial metals, margins are improving quickly enough to see that occur in the short term.

“Whatever the case, the sustainability of this current rally will be reliant on how each supply side of the market reacts over the coming months.”

Morgans believes that now is the time for investors to “dip your toe back into the sector”.

It seems that many are, with positive early signs emerging across the sector.

MNN has noticed a substantial pick-up in the quantum and value of capital raisings, and in a further positive sign, many have been oversubscribed.

Most notably was Pilbara Minerals’ $A100 million raising, while Western Areas raised $70 million.

Gold developer Gascoyne Resources secured $15 million, while West African Resources was “swamped” with investor interest after a run of high-grade results, last week raising $12 million.

To earlier stage projects, Salt Lake Potash boosted its $5.2 million raising to $8.4 million on high investor interest, while Hastings Technology Metals scored $9.6 million off the back of a prefeasibility study.

At the much smaller end, raisings by Core Exploration, St George Mining, Helix Resources, Tyranna Resources, WPG Resources, and Liontown Resources were oversubscribed.

All of these signs have led Lion Selection’s Hedley Widdup to declare the time as 5 o’clock on the firm’s investment clock.

“The clock has moved from 4.30 in late 2015 to 5 o’clock now in reflection of improved liquidity for miners,” he told MNN.

“This time is just before the boom starts to take place, so we are saying the stage is set.”

Widdup said the cycle had bottomed.

“Investors broadly have changed their view toward miners, and the realisations that miners are 1) cheap and 2) probably have very little downside on price, have now set in,” he said.

“The conclusion is not centred on the longevity of the recent rally – the rally is only an important piece of evidence.

“Capitulation is over, and strong cash generation and growth appetite in gold is likely to lead to more balance sheet-funded M&A.”

Original article by Kristie Batten of MiningNews.net view the original article here

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Exports Surge on the back of Mining Technology

Exports Surge on the Back of Mining Technology

mining technology

Mining has long been thought of as a business of shovels and sweat, but in reality it is now driven by advanced mining technology and sophisticated software. Resources-linked technology is also one of the great unsung export success stories. At present, about 60 per cent of the mining software used around the world originates in Australia.

According to an Austrade report, “Mining Software and Related Technologies”, exploration and mining software (EMS) generates more than $600 million a year from mining-related revenues, more than $240 million of exports, and directly employs more than 2500 people.

The size and type of EMS firms varies, with 100 companies in the sector, ranging in size from less than $1 million to more than $100 million in annual sales. The sector is concentrated in Western Australia (45 per cent of businesses) and Queensland (30 per cent).

Australia is seen as a world leader in this field,” says Simon Ratcliffe, product development director of Maptek, an Australian-based international company. “Australians have a can-do attitude and the capacity to think across traditional borders rather than in niches, and that is very important for global miners.”

Original article by Derek Parker of the Financial Review view the full article here

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Case Study – Taking the pain out of Data Management

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Case Study

A small Australian gold and REE explorer with projects in southern Africa

PROBLEM

  1. MS Excel based logging system was struggling to keep data consistent with the multiple versions of logging templates.
  2. No data flow control mechanisms.
  3. Fragmented data that was stored in many different formats including CSV, Access, Mapinfo and AcQuire.
  4. A non-centralised database was causing incomplete datasets to be used in resource estimation reporting. Some lab results were not being used as they were only located during Expedio’s migration process.
  5. Historic data from several previous project owners had created unconformity in the dataset. Local grid conversions have been mismanaged and not correctly implemented to the collar coordinate data.
  6. Lack of in house skills and IT infrastructure.

SOLUTION

Database solution – Expedio hosting with routine extracts and reports to client

OCRIS Operational Unit (OOU): Expedio implemented a centralised fully hosted OCRIS Operational Unit

OCRIS Mobile: Anywhere data logging solution customised with the client’s business rules, validation and formulas,.

OCRIS Toolbox:  Consolidated all data into one database. Using OCRIS Toolbox users can now access a variety of summary activity reports, QC analysis tools and strip log functionality to browse, report and export their data on demand.

OCRIS Logix: A stringent data management process from field logging to data management with a full, demonstrable audit trail.

Expedio Hosting: Expedio hosts one centralised database and manages all of their project data

OUTCOME

Scalable solution – By implementing the OOU the Expedio’s scalable solution will easily grow with the global expansion of the company.

Data Capture – Field logging process delivering a clean, controlled and rapid flow of data with errors trapped and corrected at the point of data capture by the user

Data Management – Regular updates using accurate datasets are always available on short notice, freeing up time for managers to do what they do best, plan, model, interpret and manage their project development, while outsourcing the skills, hosting and IT infrastructure overheads to the experts at Expedio.

Support – 24 hour support ensures the client has peace of mind knowing a solution to any data management challenges can be delivered rapidly avoiding any major issues.

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Expedio News – Daily Dashboard Reports

Expedio Monthly News

This was the March 2016 issue of Expedio’s Monthly News. Highlights were:

daily dashboard reports

Daily Dashboard Reports

Introducing customised high level reports for all Expedio clients. The Daily Dashboard Reports are a fully interactive reporting system. It allows executives, managers and supervisors the ability to see live reports on the go.

Key features include:

  • Management reports on the go
  • Drilling and Production summaries
  • Daily budget analysis
  • Interactive, app and web based
  • Fully customisable to your needs

Watch a short demo below of our Interactive Daily Dashboard Reports

Now is the time to upgrade! 
Why migrate sideways when you can migrate upwards to the leading edge OCRIS data management solution. Engage with Expedio and benefit by having access to the latest technology and industry knowledge along with ongoing cost savings that you can’t ignore.

See the full newsletter here

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Expedio Top Tip – Data Capture

Data Capture

Expedio’s Top Tip for March better Data Capture:

reusable data jigsaw data capture

Data capture is one of the most important processes in data management. Getting it right at the point of capture will negate many errors before they become a big problem further down the process stream.

A data capture tool should enforce strict standards on a user to only allow valid data to be entered. For example:

  • Enforce company codes – pick lists to fields to ensure adherence to company logging standards and avoid a situation of people creating their own geology codes.
  • Built in validation rules to allow worksheet checks, this provides the ability to define contextual checking of data within and across multiple worksheets. Validations will allow you to check for:
    • Overlapping or missing intervals
    • Invalid dip/azimuth/grid values
    • End depth checking
    • Invalid sample types or groups
    • Contextual or logical checking across data columns
  • Manage data flow – only allowing a user to export data once from a logging tool to avoid a double up in data in the production database and creating an issue of multiple data sets. Which data set is correct?

OCRIS Mobile allows for all of this and more, OCRIS Mobile has an unbeatable range of features combined with rock-solid data validation and management. OCRIS Mobile is the only choice if you want fast, accurate and dependable exploration or mining logging in the field.

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RIU Explorers Conference Wrapup

RIU Explorers Conference Wrapup

RIU Explorers Conference

RIU Explorers Conference held last week in Fremantle was a fantastic event for both the technical presentations and an opportunity to reconnect with old friends and colleagues.  The focus this year was on Lithium with a broad spectrum of presenters from junior explorers to major producers, with gold and base metal resource companies also well represented.

The Expedio booth was well attended with a lot of interest and positive feedback for our new interactive dashboard reporting.

Metals X were the recipients of this year’s Craig Oliver Award for general industry excellence and the winner of the Expedio wine prize was Peter Cash from Millennium Minerals. Congratulations to Metals X, Peter Cash and thank you to the event organisers, sponsors and attendees.

RIU Explorers Conference Winner

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