MINING ENGINEERS ASSOCIATION OF INDIA GoLDEN JUBILEESEMINAR ( ' .

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PRESENTSTATUS OF MINING AND FUTURE PROSPECTS

TIIEME ..TOREVIEW T}M LATESTTRENDS MINERALSAND IN EXPLORATION REVISE THERESERVE POSITIO\T'

BY IAN WOLLFF

Introduction. The introduction to this Mining Engineers Association refersto a of India seminar commonperceptionthat easyto find high gradedepositsare being depleted,and that in technologyprovide the meansto finding and developingthe next generation advances This samethemehasbeenexpressed of deposits. for manyyears,andat eachstageof our industrial world the professionals working in thesefields have met the challenge growth in Asia, later it will be successfully. It is now the tirne for somespectacular prosperity somewhere else,for commercial in quality of life hascometo andthe increase depend on the development of rnineralresoruces. Our Starting Point. All forms of progressare basedupon the work of thosewho went beforeus. I place great emphases on a fundamentalunderstanding of our specialized areasof science.The geologistwho can record and understand mine an outcrop,the miner who understands life sequencing, the mineral processor who understands sizing and the economistwho understands cashflow are constantlyworking up from soundprinciples derivedfrom thosewho went beforeus. o How well we do in the future for developingresources thus startswith our programs for earthsciences. education Industry Advances. In my 40 yearsof beinga geologist I haveseenthe mostwonderfuladvances in our geotechnics, industry.From the practicalsideof ore genesis, survey,imagery,drilling, geophysics, modeling,assay side statistics, techniques, and so on. From the procedural we have seenthe development to define resources, of nationaland internationalstandards reserves, assay techniques, andto establish safetypractices From the evaluation sidewe

haveseenthe development of financialmodels,sensitivity analysis, and the profiling of key personnel. There is a greaterinterconnectivitywithin the industry,as resources are convertedinto reserves throughan economicappraisal to the final soldproduct.Thussimilar advances in mining,processing, transport andfinanceaspects all play a roll in the determination of reserves. Therehave also beenadvances in our appreciation of the environment,safety,social and political factorsthat placesfurther setsof criteria on our industry. o How well we do in the future will dependon how research is undertaken to the wider rangeof disciplines that canbe appliedor adapted to the development of reserves and the mining industry. Other Influences. Therehas come an increased public awareness from peoplewho want to imposetheir influence upon the interlinked reserve,mining, transportand processindusties. National government policy is a changingmixture of free and public enterprise, with local governmentand procedures further influencingthe industriesapproachto reserve and mining development programs. Communities andnon government agencies have more specificprojectby projectinfluences. Theseinfluences tlpically relateto the size and place of the explorationtarget,the budgetand schedule for evaluation,commitment to operationalaspects, and finally to royaltiesand tax. Financeand corporateindustry placesfurther influencesof ethicsand accountability requiring stringentproceduraldocumentation andjustification at all stagesof reserve development. o How well we do in the future will dependon our professionalaffiliations and individualcompanies in lobbyingand developing a public image.

Fluctuations in our Industry. The exploration,mining and associated indushieshave experienced a history of boom and bustcyclic development. This is a part a reflectionof the success of our industrythat we can find enoughresources to fill demand.This hasmadeit hard to get a continuous flow of graduates andthe development of research. ln many products,world production,and prices are strongly influencedby a few big playersin eachfield. Onceagainthis is in part a reflectionof the success of our industry to find & developsuchresources. Howeverword growth continues,and the very nature of resources beingconsumed means that moreneedto be found& developed. The productionof mining products will be influenced by recycling,alternative materials, efficiencies, new productsand changes of life styles.

we are at finding and o How well we do in the future will dependon how successful new markets. and new resources, managing