australia's identified mineral resources 2005 - Geoscience Australia

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AUSTRALIA’S IDENTIFIED MINERAL RESOURCES 2005 World Ranking Australia has about 24% of the world’s recoverable brown coal EDR and is ranked number one in this category. Germany’s recoverable EDR have declined significantly from 43 Gt to 6.6 Gt in recent years – Australia produces about 8% of the world’s brown coal and is the fifth largest producer after Germany (22%), Russia (10%), USA (9%) and Greece (8%). Industry Developments CLP Power Asia, owner of the Yallourn mine and power station, is undertaking a $1 million feasibility study into building a coal gasification facility to provide fuel for a 500 MW power station. Construction of the plant could begin in 2006 if the feasibility study produced favourable results. In April 2004, the Loy Yang mine and power station was sold to the Great Energy Alliance Corporation, which is a joint venture of the Australian Gas Light Company, Tokyo Electric Power Company and a group of investors led by the Commonwealth Bank of Australia. In October 2004, the Loy Yang mine reached a milestone with extraction of the 500 millionth cubic metre of material. The mine now extends 3.2 km by 2.1 km and at the deepest point is 180 m below ground level. In May 2004, International Power submitted an Environmental Effects Statement for the $380 million West Field development at the Hazelwood mine. International Power plan to extend the mines operation from 2009 to 2030 by relocating a section of the Strezlecki Highway, diverting the Morwell River and two creeks, and moving the town of Driffield and eleven families. Anglo American outlayed $52 million purchasing the remaining 80% of Australian Power and Energy Ltd (APEL) it did not already own. APEL has exploration tenements over the 3 Gt Flynn coal deposit near Traralgon. Scoping studies indicate that 62 000 bpd of diesel can be produced in a two stage processing plant costing up to $5.5 billion. The 220 MW’s of electricity generated by the plant would be needed in the manufacturing process. The Cooperative Research Centre (CRC) for Clean Power from Lignite successfully trailed a process for drying brown coal, which can reduce greenhouse gas emissions from power stations by a third or more. The CRC’s Mechanical Thermal Expression (MTE) technology removes more than 70% of water from brown coal. The next stage is to build a $6.3 million pilot plant in the La Trobe Valley with construction planned for late 2005 and testing to start in early 2006. The pilot plant would process up to 15 t of brown coal per hour. The Victorian Department of Primary Industries is undertaking a study into the development of the La Trobe Valley brown coal resources over the period to year 2100. The study, ‘La Trobe Valley Coal Resources 2100’, will consider the interplay between the future mining infrastructure, the community and the environment over the next 100 years. 26 Copper Australia is a major copper producer with mining and smelting operations at Olympic Dam (SA) and Mt Isa (Qld). Other copper mines include Northparkes, Tritton (NSW), Ernest Henry, Osborne, Mt Gordon (Qld), Nifty, Golden Grove (WA) and Mt Lyell (Tas). Copper and copper alloys are used in building construction, electrical equipment such as electrical cables, and industrial machinery and equipment. Resources Australia’s EDR rose by 2 Mt to slightly more than 42 Mt of copper, an increase of 5%. South Australia has the largest EDR, which increased by 4% in 2004 and is now around 60% of the national total. The majority of these resources are associated with the Olympic Dam deposit where EDR increased by just over 1.5 Mt following development drilling at the main deposit and the use of a 29% higher long-term price for uranium in resource calculations. Queensland has the second largest EDR with 21% of the national total, followed by Western Australia (8%) and New South Wales (6%). An increase in EDR for Queensland of 16% (1.2 Mt) relates mostly to the results of the Mt Isa Open Pit prefeasibility study undertaken over the last two years.
AUSTRALIA’S IDENTIFIED MINERAL RESOURCES 2005 Subeconomic demonstrated resources increased by 13% to 4.9 Mt, made up of 3.6 Mt in the paramarginal demonstrated resource category and 1.3 Mt in the submarginal demonstrated resource category. The increase of 0.6 Mt in paramarginal resources compared to 2003 reflects activity in the Mt Isa region of Queensland where evaluation of a range of deposits is in progress. Most of the paramarginal resources are in Western Australia and Queensland with 29% and 28% respectively, followed by New South Wales (21%). Inferred resources rose by 8 Mt (35%) to just under 30 Mt in 2004. The increase was predominantly in South Australia where inferred resources rose by over 70% (8 Mt) to over 19 Mt, primarily as a result of extensive exploration drilling at Olympic Dam to the south east of the main deposit, and at Prominent Hill where 1.455 Mt of inferred resource was announced during 2004. South Australia holds 65% of Australia’s inferred resources followed by Queensland and Western Australia both with 11%. Accessible EDR All copper EDR is accessible. JORC Reserves JORC Code reserves account for around 47% of AEDR. The remaining AEDR comprise those measured and indicated resources (reported by mining companies), which Geoscience Australia considers will be economic over the long term. Exploration Spending on exploration for copper rose by 62% in 2004 to $55.8 million. Expenditure in South Australia ($24.6 million) was over 40% of all copper exploration and was directed mainly on the search for Olympic Dam style mineralisation in the Gawler Craton. This state’s expenditure also includes resource definition drilling at Prominent Hill, where an inferred resource of 97 Mt @1.5% Cu and 0.5 g/t Au (cut-off grade of 0.5% Cu) has been identified. Queensland had 34% of spending on exploration for copper and New South Wales 12%, with the remaining 10% distributed largely in Western Australia and to a lesser extent in the Northern Territory, Tasmania and Victoria. Significant exploration results reported during 2004 include: Kalkaroo (SA): In the Curnamona Craton, 100 km west of Broken Hill, Havilah Resources NL reported an intersection of 36 m @ 3.1% Cu and 1.0 g/t Au. Mineable grades of molybdenum were also noted. Mineralisation has been traced over 1 400 m around a large arc. The company drilled fourteen 100 m spaced drill traverses with resulting ore-grade intersections along each. Einasleigh (Qld): Copper Strike Ltd announced copper intersections from drilling at its Einasleigh Copper Mine prospect 300 km northwest of Townsville. Intersections reported include 50 m @ 6.65% from 235 m, 15 m @ 11.76% Cu from 244 m and 11 m @ 3.10% Cu from 269 m downhole. Roseby (Qld): Universal Resources Ltd reported resource estimates (all categories) totalling 103 Mt @ 0.69% Cu and 0.06 g/t Au for several deposits comprising the Roseby project near Mt Isa. Lady Annie (Qld): 137 km north of Mt Isa, drilling by CopperCo Ltd yielded an intersection of 22 m @ 6.7% Cu from 173 m downhole in transitional chalcocite ore below the Lady Annie oxide resource. The company had previously released a resource estimate (all categories) of 10.5 Mt @ 1.0% Cu for oxide resources at Lady Annie. 27 West Whundo (WA): Near the Radio Hill mine in the Pilbara District, Fox Resources Ltd reported a drill intersection of 10 m @ 23% Cu, 0.41% Co and 2.6% Zn. West Whundo is part of the Whundo project, which is based on the old Whundo copper mine. Balcooma (Qld): Kagara Zinc Ltd undertook a limited drilling program on the Balcooma North prospect near Greenvale to test for extensions of the deposit and to obtain metallurgical samples. One hole intersected 12.2 m @ 15.7% Cu and a second hole gave 15.6 m @ 6.1% Cu.
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