ajohnston
New Member
Transmin Metallurgical Consultants
Posts: 24
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Post by ajohnston on May 19, 2007 17:45:07 GMT
There has been some talk of standard metallurgical accounting and reporting guidelines. Geologists have very clear guidelines for reporting reserves. As a result strong laboratory, improved software, courses and consulting support have developed.
Is this new push just going to affect operating plant's reporting procedures (dare I say, adding an auditing requirement), or does it also include exploration and feasibility testwork reporting?
Metallurgical testwork results are often issued showing the best grade and best recovery from different batch flotation tests with no reference to grade recovery curves or locked cycle test results. These results often come from mining engineers or geologists with little understanding of what they are writing.
I'm sure that some investor relations folk will be most dissapointed when they have to start telling the whole truth.
I welcome these reporting guidelines to our industry and I would like to know more about them. Does anyone have any more information on when and where they will be published?
Do they include requirements such as reporting not just recovery but also the grind, reagent consumptions or if the tests were locked cycle or batch? The presence or not of penalty elements should be explicitly stated.
Anyone have more information?
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Post by nevilledowson on Jun 15, 2007 3:58:11 GMT
AMIRA's South African office issued Release 3 of their P754 Metallurgical Accounting; Code of Practice and Guidelines, for comment, in February 2007, with a view to updating to Version 4 later this year. They are looking for guidelines to the update. It is mainly concerned with operations as the resource/reserve aspects of JORC are part of JORC. The metallurgical aspects of such studies should be reported by metallurgists, so the study can stand due diligence Each feasibility study should be subject to due diligence to ensure some basis of peer review to the study. We, at METS, have performed due diligence on many studies over many years and found numerous standards of reporting and testwork applied. Until someone can get a standard for "bankable' studies the industry works on what the financiers need; the Golden Rule "he who has the gold makes the rules". It would be better to have some defined guidelines at all levels of project development, so we should support the efforts to develop such guidelines.
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