australia's identified mineral resources 2004 - Geoscience Australia

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AUSTRALIA’S IDENTIFIED MINERAL RESOURCES 2004 Production Mine production of tin in Australia has declined since the mid 1980s. At the start of 2003, Australia had three operating tin mines – Renison Bell underground mine (Murchison United NL), Ardlethon alluvial mine (Marlborough Resources NL), and Greenbushes open cut mine (Sons of Gwalia Ltd). Operations at Renison Bell were suspended in May, and by year’s end, there were only two producing tin mines in Australia. Production in 2003 was 3818 t tin (40% less than 2002). Total exports for 2003 were 2862 t tin valued at $18 million. World Ranking Australia’s EDR for tin is ranked number ten in the world. The world’s major resources of EDR are in China, Malaysia, Indonesia, Peru and Bolivia. Industry Developments Mining and milling operations at Renison Bell mine were suspended following the company’s failure to secure capital for development of a decline to access new ore reserves in the high grade Federal orebodies. Mining in the main stoping areas had been halted earlier in the year due to difficult ground conditions. Prior to suspension, this mine had been a major producer for almost 40 years and was one of the world’s largest underground tin mining operations. Production from the Ardlethon alluvial mining operations increased steadily throughout the year to reach a monthly rate of 136 t tin for December. The main factors contributing to this increase were: ■ ■ Commissioning of a second processing plant, Ore grades increased from 1.27 kg Sn/bank cubic metre (March quarter) to 2.15 kg Sn/bank cubic metre (December quarter), The processing plants have combined capacity to treat 800 000 bank cubic meters of ore per year. Greenbushes is the world’s largest hard rock tantalum mine. Tin occurs in association with tantalum minerals and is recovered as a by-product during ore processing. The company operates a smelter at the site and tin is produced as refined ingot. Bluestone Tin Ltd purchased the Collingwood project (North Queensland) from the previous owners in 2000 and completed a feasibility study in 2001. An Environmental Authority enabling the development of the project was issued to Bluestone in February 2003. 62 During the 1980s, an adit and underground development were completed at the Collingwood deposit, and a major drilling program was carried out from both surface and underground in order to outline the ore reserves and mineral resources. However, development of the project was deferred by the former owners in the late 1980s because of low market prices. Bluestone proposes to refurbish the adit and underground drives in late 2004, and production of tin is scheduled to commence in 2005. At Collingwood, cassiterite mineralisation occurs in a steeply dipping, sheeted vein system and in flat-lying greisen zones near the top of a granite intrusion. Uranium Uranium has two major peaceful uses: as the fuel in nuclear power reactors to generate electricity; and in the manufacture of radioisotopes for medical applications. Approximately 17% of the world’s electricity is currently generated by the use of uranium in nuclear reactors. Some 441 nuclear power reactors with a total net capacity of over 364 gigawatts (electrical) are operating in 31 countries; a further 33 new reactors are under construction worldwide. A total of 16 countries generate more than 25% of their total electricity requirements from nuclear reactors. Australia has no significant national demand for uranium and all mine production is exported under nuclear safeguards agreements with importing countries.
AUSTRALIA’S IDENTIFIED MINERAL RESOURCES 2004 Resources Geoscience Australia prepares estimates of Australia’s uranium resources within categories defined by the OECD Nuclear Energy Agency (OECD/NEA) and the International Atomic Energy Agency (IAEA). The estimates in each category are for recoverable resources of uranium after losses due to mining and milling have been deducted. In Table 1, these estimates are reported under the corresponding resource categories of the national classification scheme. The resource categories of both schemes are correlated in table 3. TABLE 3. Correlation of resource classification schemes for uranium. National Scheme Economic Demonstrated Resources Paramarginal Demonstrated Resources Submarginal Demonstrated Resources Economic Inferred Resources Subeconomic Inferred Resources NEA/IAEA Scheme Reasonably Assured Resources (RAR) recoverable at less than US$40/ kg U RAR recoverable at US$40–80/ kg U RAR recoverable at US$80–130/ kg U Inferred Resources (IR; formerly Estimated Additional Resources Category 1 – EAR-1) recoverable at less than US$40/ kg U IR recoverable at US$40–130/ kg U Australia’s EDR were estimated to be 675 000 t U, a decrease of 14 000 t U compared to the previous year. This decrease was due mainly to production from the three operating mines (Ranger NT; Olympic Dam SA; Beverley SA), together with reassessments of the ore reserves and mineral resources for Olympic Dam deposit. Approximately 97% of Australia’s total uranium resources in EDR are within the following six deposits: ■ ■ ■ Olympic Dam, which is the world’s largest uranium deposit, Ranger, Jabiluka, Koongarra in the Alligator Rivers region (NT), Kintyre and Yeelirrie (WA). Accessible EDR Approximately 11% of uranium EDR is inaccessible for mining. Western Australian State Government policies prohibit uranium mining for nuclear purposes from any mining leases granted after June 2002. The uranium deposits in WA are classified as inaccessible resources. Inaccessible resources also include those deposits in the Alligator Rivers region where the mining leases are too small to accommodate the proposed mine and treatment plant facilities and water retention ponds. These lease areas cannot be increased because they are surrounded by Kakadu National Park. JORC Reserves EDR is the sum of JORC Code reserves categories plus those resources in measured and indicated categories which Geoscience Australia considers will be economic over the long term. In 2003, JORC Code reserves of 435 000 t U account for approximately 72% of AEDR. 63 World Ranking Australia has the world’s largest resources of uranium in RAR recoverable at
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