Additionally, any material changes in these resources or reserves must be promptly reported. In essence, SOX sets stringent standards for financial reporting, internal controls and auditor independence, aiming to restore confidence in the integrity of corporate disclosures and protect the interests of investors. There are multiple ways to determine how the model uses the information it is given. Choices are made to use one variable as an input instead of another, to avoid over-constraining the calculations.

CBAM Reporting and Compliance

An example is using the ‘Two Product Formula’ to determine the mass split of solids in a flotation circuit. This is based on the use of assay grade results from the feed, concentrate and tails samples, usually for the primary metal. However, it is also possible to use assay results from a secondary metal or other species to determine the split. In some plants, it may also be possible to determine the mass split in the flotation circuit using instrumentation (weightometers, flowmeters and discuss the purpose of the cutoff bank statement in the audit density gauges) up and downstream.

You can build a dashboard with data from all your most important reserve balances noninterest expenses and bank performance in the stress tests customer accounts and keep everyone and everything in sync. It can cut down unnecessary actions by focusing your time and energy on the right path. Account managers frequently use this method to find better ways to look after current high-potential accounts, and promote ongoing growth. The main idea as regards stocks of supplies is to account for everything purchased, and charge it out as it is used. Two methods are in vogue, and both work well if a diligent and conscientious man is in charge of supplies; conversely, both work miserably if careless or slipshod methods are allowed. In the first place, the distinction is drawn between direct and indirect operating costs, direct costs being, as the term indicates, those incurred for actual handling of ore, and indirect those necessitated by the operation of mining in general.

It is clear from the graphs that the measured and calculated values deviate at different points, but it is not clear whether these deviations are outliers that should be corrected, or realistic values resulting from changes in the way the plant was operating. If problems are found with the source data, the traditional metallurgical accounting process often sees this data being changed, or deleted, with the original values not kept for comparison. This means that repeat issues may not be detected, making it difficult to find the root cause of the inaccuracy. Plant laboratories tend to keep more substantial records of problematic data as part of their quality assurance and quality control (QAQC) systems. However, this information may not be reported outside of the laboratory, meaning that the QAQC processes themselves are not validated against a broader context. To ensure compliance with ASX Principle 4, it is now essential for a plant’s production and metal accounting reports to undergo an annual external audit when finalising financial and corporate reports.

SAMREC Code and the JORC Code

Where a measured value deviates from a calculated value, it has effectively deviated from a large consensus of other measured values used as inputs – it is effectively large-scale quality control analysis. This means that the data is objectively inaccurate and should be corrected, with the root cause of this inaccuracy investigated. Alternatively, a variation between the measured and calculated values could also identify undocumented process changes.

Two or three large companies known to me, and probably many others, group all indirect charges under the head of “general” expenses, included in which is a subheading of “general” or “miscellaneous” expenses. Practically, each mine needs to have its accounting method, almost as much as its plan of development, adjusted to its circumstances. Next to profits, the figures of greatest interest to a mine operator are doubtless the operating costs.

Traditional calculation method: Statistical data reconciliation (SDR)

Typical activities in the mining industry include metals production, metals investing, and metals trading. Process optimisation, variable feed compositions, stress tests or even plant configuration changes can all be investigated using MI Scenario®. The results from these simulations can also be automatically transferred to MI Core® for use as budget or forecast figures. Instrument and laboratory data can certainly be used to draw a rough sketch of what happened in the plant. However, dynamic simulation provides the detail, and adds the colour and rendering to paint a true picture of plant performance. The SAMREC Code (2009) and the JORC Code (2004) mandate public companies to annually review and publicly report on their mineral resources and ore reserves.

“Miscellaneous income” is a term which will apply to all other revenue, whether from the rent of houses owned by the mining company, or the profit on the company store or boarding house, or interest, or exchange, or dividends, or the sale of junk, tailings, etc. These are usually cash items, and are taken care of in the Cash and Voucher Record, which will now be considered. Secondary records in the form of a shipment book, files of bills of lading, assay certificates, etc., may be kept as the accountant finds most convenient, and according to the local conditions and circumstances of the property. Their purpose is primarily to facilitate the checking of the settlements and to aid in an accurate estimate of the amount, grade and value of ore awaiting settlement. The observations here presented are not those of an expert accountant, but of one who, while he has seen considerable service in the accounting departments of large companies, has spent more time in engineering and operating. The output from this is a highly detailed dataset that grows to thousands of data points.

1. The implementation of the modern approach at this operation meant that transparent and consistent calculation methods were applied.
2. Measure points with consistent outlying values can be easily identified from data quality reporting, so that the underlying cause can be investigated and rectified.
3. This means that any deviation between calculated data and the measured input data tends to reflect a disagreement between a single value or measure point and a broader consensus of instruments and assays.
4. Developing selection criteria is a challenging step to take but you can still manage it.
5. But it is capable of demonstration that an additional expenditure per ton may, under certain conditions, increase the grade of smelting ore or mill feed to a point where profits will be increased by more than the extra outlay.
6. You can research, identify, and assess possible growth areas as well as gaps that your products or solutions can fill.

The King Report on Governance for South Africa and the King Code of Governance Principles (King III)

Free PDF eBook with practical examples and insights on how to use a CSP to optimize your customer journey. SaaS lead nurturing helps drive engaging relationships with customers, depending on buyer personas. Understanding the challenges and objectives of your customers can help you spot areas where collaboration and value addition are possible. Be sure you explicitly communicate with the customers so that they are aware of their points of contact and what to anticipate as they move forward. It’s smart to have one centralized tool like Plus or Custify that let you capture and share the latest data with your team, from any app or website, without sharing logins.

Upon analysis, some of the data appears to be different – either there is a clear deviation from recent values, or a deviation from expectations based on the situation and operator experience. On a particular day, a reported figure based on a calculation, such as recovery or reconciled head grade, may come back with a value that was unexpected. A calculation like this could be based on many different parameters using different types of data. Production reporting analyses, tracks and visualises the current and historical performance of a production facility. Customers is identified with unique IDs and meets revenue recognition will be as per IFRS quickbooks for contractors training 15.