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Nedlands, Australia

Miller J.,Center for Exploration Targeting | Blewett R.,Geoscience Australia | Tunjic J.,St Ives Gold Mining Company | Connors K.,FrOG Technology
Precambrian Research | Year: 2010

A revised structural interpretation for the Victory to Kambalda area of the world class St Ives Goldfield in the Archean Yilgarn Craton has mapped out the distribution of WNW-trending faults within this area of the field. These previously cryptic WNW-trending structures had been identified in gravity data, and also by isopach thickness variations. The WNW-trending faults acted as transfers syn-gold mineralization, although only discrete segments of these faults were active during the main stage of gold mineralization. Where mineralized, the faults transferred strain from a complex combination of block-on-block movement associated with thrusting and strike-slip movement on NW- and N-trending faults. Along some segments N-trending mineralized faults terminate against the WNW-trending faults. Many of the WNW-trending faults correlate with major strike changes on regional and camp-scale faults and they are domain boundaries for the critical N-trending fault segments that host high-grade gold within contractional jogs. The WNW-trending faults also show evidence for an older deformation history prior to main-stage gold, which may extend back to early basin development associated with ultramafic and mafic volcanism. They are inferred to have been a series of early WNW-trending normal faults and breached relay ramps associated with oblique rifting along an older NNW-trending basement boundary. © 2010.

Shahnazari M.,University of Western Australia | McHugh A.,University of Western Australia | Maybee B.,Economy Energy | Maybee B.,Center for Exploration Targeting | Whale J.,University of Western Australia
Applied Energy | Year: 2014

Greenhouse gas (GHG) intensive fuels are currently a major input into the Australian electricity sector. Accordingly, climate change mitigation policies represent a systematic risk to investment in electricity generation assets. Although the Australian government introduced carbon pricing in 2012 and announced a commitment to the continuation of the Kyoto protocol beyond 2012, the opposition at the time signalled that should they be provided the opportunity they would repeal these policies. This paper uses a real options analysis (ROA) framework to investigate the optimal timing of one potential business response to carbon pricing: investment in the conversion of coal plant to lower emission CCGT plant. An American-style option valuation method is used for this purpose. The viewpoint is from that of a private investor assessing three available options for an existing coal plant: (1) to invest in its conversion to CCGT; (2) to abandon it, or; (3) to take no immediate action. The method provides a decision criterion that informs the investor whether or not to delay the investment. The effect of market and political uncertainty is studied for both the Clean Energy Act 2011 (CEA) and high carbon price (HCP) policy scenarios. The results of the modelling suggest that political uncertainty after the implementation of carbon pricing impedes the decision to switch to cleaner technologies. However, this effect can be mitigated by implementing higher expected carbon prices. © 2014 Elsevier Ltd.

ShahNazari M.,Murdoch University | McHugh A.,Murdoch University | Maybee B.,Economy Energy | Maybee B.,Center for Exploration Targeting | Whale J.,Murdoch University
Applied Energy | Year: 2014

Political uncertainty over global greenhouse gas (GHG) mitigation policy is likely to defer investment in cleaner technologies. It may also incentivise short-lived, high-cost interim investments while businesses wait for the uncertainty to subside. The range of possible policy responses to the issue has created uncertainty over the future of national mitigation pathways. Given that the electricity sector, globally, is a major emitter of GHGs, this represents a systematic risk to investment in electricity generation assets. This paper uses a real options analysis framework informed by a survey of experts conducted in Australia - used as a proxy to model the degree of the uncertainty - to investigate the optimal timing for investment in the conversion of a coal plant to a combined cycle gas turbine plant using the American-style option valuation method. The effect of market and political uncertainty is studied for the Clean Energy Act 2011 in Australia. Political uncertainty is addressed bi-modally in terms of: (1) uncertainty over the repeal of the carbon pricing policy, and (2) if it is repealed, uncertainty over the reinstatement of the policy, to represent the effect of electoral cycles and the possibility of more stringent future global mitigation efforts. Results of the analysis show that although political uncertainty with respect to GHG mitigation policy may delay investment in the conversion of the coal plant, expectations over the reinstatement of the carbon pricing reduces the amount of option premium to defer the conversion decision. © 2014 Elsevier Ltd.

Gallardo L.A.,CICESE | Gallardo L.A.,Center for Exploration Targeting | Fontes S.L.,Observatorio Nacional ON MCT | Meju M.A.,Petronas | And 3 more authors.
Geophysics | Year: 2012

We have applied a crossgradient joint inversion and geospectral visualization method to marine seismic reflection, magnetotelluric, gravity, and magnetic data sets acquired along a 162 km profile across a segment of Santos Basin oil province in the continental margin of southeast Brazil. The main exploration targets are the top of the fractured Precambrian crystalline basement and any concealed basement grabens, the overlying presalt and salt/carbonate deposits, and the postsalt cover deposits. The results of joint inversion clearly mapped the various units and are a significant improvement over previous models derived from separate 2D seismic reflection processing and 2D magnetotelluric imaging. Additionally, multispectral fusion of these models resulted in a single image that permits highly constrained geologic interpretations enabling a better understanding of basin architecture. We suggest that joint inversion and image fusion is the way forward for effective geophysical integration. © 2012 Society of Exploration Geophysicists.

Nazari M.S.,Murdoch University | Maybee B.,Economy Energy | Maybee B.,Center for Exploration Targeting | Whale J.,Murdoch University | McHugh A.,Ernst And Young
Energy Procedia | Year: 2015

A decision support framework has been provided to assist investors with long-term decision-making for investment choices in power generation assets under uncertain climate policy. The model combines real options analysis and modern portfolio optimization theory. A long-term correlation between carbon and renewable portfolio standard certificate prices is used to model the interaction of climate policies, with a case study being developed to investigate the optimal choice of capacity additions to an existing mix of power generation assets in Australia. The findings show that there is potential for investors to fully hedge their existing fossil fuel based generation assets through the addition of on-shore wind capacity. The model developed allows for (1) the investigation of investment risk and return under uncertain climate policies, and (2) the study of interaction among green policies. © 2015 Published by Elsevier Ltd.

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