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RESOURCE/RESERVE REPORTING STANDARDS FOR MINERALS Presentation to the International Accounting Standards Board in London by video link from Melbourne. On behalf of the IASB Extractive Activities Project Team 19 April 2005 Pat Stephenson Member and past-Chairman – JORC
A Mineral Reserve includes diluting materials and allowances for losses that may occur when the material is mined. Probable Mineral Reserve. A probable mineral reserve is the economically mineable part of an Indicated and, in some circumstances, a Measured Mineral Resource demonstrated by at least a Preliminary Feasibility Study.
in the mining industry International Financial Reporting Standards 6th edition. International Financial Reporting Standards (IFRS) provide the basis for financial reporting to the capital markets in an increasing number of countries around the ... mineral resources continues.
2. Mineral Resources and Property, Plant and Equipment (PP&E) Impairment aside, there are other topical issues relating to IFRS and PP&E. IAS 16 Property, Plant and Equipment places more emphasis than GAAP on a "component" approach to depreciation, under which costs are allocated to "significant parts" of an asset and each
The Southern African Institute of Mining and Metallurgy Platinum 2012 557 D H Diering, D C Andersen, G Langwieder, G L Smith THE BASIC RESOURCE EQUATIONS (BRE & BR2RE) – A NEW APPROACH TO THE DEFINITION AND RECONCILIATION OF MINERAL RESOURCES AND RESERVES AT ANGLO AMERICAN PLATINUM LTD D.H. Diering Anglo American Platinum Limited
Estimates of the tonnage and average grade of ore deposits (ore-reserve estimates) are made for various purposes. They may be made by examining engineers as a basis for placing a value on a mining property in connection with reports on behalf of owners or vendors, on the one hand, or for prospective purchasers or lessees, on the other.
Loss and dilution of Mineral Resource grade occurs during mining activities. Mining Recovery and Mining Dilution estimates are a required consideration in the reporting of Ore Reserves for mineral projects. Good estimation of Mining Recovery and Mining Dilution improve mineral project economics and Mineral Resource utilisation.
To better understand reserves estimation, a few important terms require definition. Original oil in place (OOIP original oil in place) and original gas in place (OGIP original gas in place) refer to the total volume of hydrocarbon stored in a reservoir prior to production.Reserves or recoverable reserves are the volume of hydrocarbons that can be profitably extracted from a reservoir using ...
Coal Terminology: Resource & Reserve Last Modified: 25th September 2012 ... most estimates of the reserves to production ratio, a simple calculation of how long we could use coal at the current rate, ... For reference, strip mining is limited to extracting coal up to a few hundred feet and underground mining is currently limited to around 3500 ft.
Mineral resource classification is the classification of mineral resources based on an increasing level of geological knowledge and confidence. Mineral deposits can be classified as: Mineral resources that are potentially valuable, and for which reasonable prospects exist for eventual economic extraction.
Metallurgical ContentORE RESERVE CALCULATIONSMINERAL ORE RESERVE Case 1MINERAL ORE RESERVE Case 2MINERAL ORE RESERVE Case 3 The usual method of sampling mineral deposits is to drill holes and assay the sludge or core. Though the results thus obtained may not represent the true average value of the deposit, it is on these results that estimates of practically all .
Jan 23, 2014· Home/Knowledge Base/Mineral Exporation/Results and Analysis/ CuEq Metal Equivalent Calculator for Mining Results. Results and Analysis Tools ... gold or other minor constituents. Use this simple metal equivalents calculator to calculate common (and uncommon) equivalences. ... Classification of Mineral Resources and Reserves. June 25, 2013 ...
Volume calculations are very important in mining to not only estimate the efficiency of machines and mining methods, but also to determine how much contractors should be paid if they are paid on a material-moved basis.
Calculation of Reserves and Deposit Evaluation | DMT & Co. KG. Calculation of Reserves and Deposit Evaluation The volume of the mineral deposits is determined on the basis of the 3-D models.Our customers include mining companies, suppliers to the mining industry, international development banks, government geological services, and so on.
Recoverable reserves are a fraction of the OOIP original oil in place or OGIP original gas in place and are dependent on the efficiency of the reservoir drive mechanism. The basic equation used to calculate recoverable oil reserves is where RF = recovery factor, which equals RF P + RF S
Jun 15, 2018· This is the one of method for calculation of reserve of ore .
Because all mining operations work with non-renewable resources, mining is considered an unsustainable industry, where eventually the extraction rate will exhaust the entire economic mineral reserves. This type of long-term investments is considered risky, but if analyzed from
Mineral Reserves and Mineral Resources estimates are as at December 31, 2018. Metal prices utilized for Mineral Reserves estimates are $1,250 per ounce of gold, $18.00 per ounce of silver, $0.90 per pound of lead and $1.00 per pound of zinc. Metal prices utilized for Mineral Resources
Aug 16, 2016· How To Calculate A Reserve Retirement. I recently answered a couple of questions on calculating the amount of a Reserve retirement for both Final Pay and High Three pay systems. If you're eligible for a Guard – Reserve retirement, then let me repeat the questions & answers so that you can confirm your math.
SOUTH AFRICA - MINING AND PETROLEUM ROYALTIES - THE IMPOSITION AND CALCULATION By BETSIE STRYDOM (Director in the Tax Practice of the Corporate Department of BOWMAN GILFILLAN) The imposition of mineral and petroleum royalties ("mining royalties") in South Africa
PwC Corporate income taxes, mining royalties and other mining taxes—2012 update 5 Indonesia has tax incentives for specifi c mining activities such as basic iron and steel manufacturing, gold and silver processing, certain brass, aluminium, zinc and nickel processing activities and quarrying of certain metal and non-metal ores.
Nov 23, 2003· ESTIMATION OF MINERAL RESOURCES And MINERAL RESERVES BEST PRACTICE GUIDELINES Committee Members Paul Bankes - Teck Cominco Limited, Vancouver. Ralph Bullis - Echo Bay Mines Ltd., Edmonton. Neil Gow - Roscoe Postle Associates Inc., Toronto. Bernie Haystead - CIBC World Markets, Toronto.
Jan 16, 2017· The mining industry is a fascinating space – not only for the fact that almost everything around us comes from mining but also because of the possibility of striking gold with penny stocks that ...
THE IMPORTANCE OF DILUTION FACTOR FOR OPEN PIT MINING PROJECTS* Anoush Ebrahimi, P. Eng., Ph.D. ... While we do our best to identify and calculate all the other cost items of a project, no matter how small, it ... dilution factor which is applied in reserve calculation. Estimating a reliable dilution factor can reduce the
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