At our recent event as part of the Great Thinkers Community in mineral resources, we discussed Transparency and Standardisation in Metal Reconciliation Reporting.
One would argue that how well an operation converts its resources to reserves and ultimately recovers its metal, represents as equally an important a benchmark as either unit cost or total output. Accordingly, until such time as formal reconciliation factors are established and published annually, fundamental questions regarding operational transparency and operational performance across the resource sector are likely to continue. Are we simply waiting for standards and transparency to be legislated? Is that right? Or should we as an industry be leading ourselves?
Questions for the panel included:
As professionals, are we comfortable with current reporting structures?
What are the implications of reporting reconciliation results with full transparency?
Is the status quo sustainable?
Are we simply waiting for standards and transparency to be legislated?
How do we gain alignment across the industry?
How do we as community lead the change?
You can access the session recordings on our YouTube channel here. *Please note, there is some sound interference from the air conditioning at the venue which reduces sound quality*.
Metal loss linked to poor mine reconciliation is an industry wide problem in the resources sector. Ask any geologist what they worry about most as end of month approaches. This process is meant to identify differences between estimates, plans and actual mine production. Only once they are properly quantified and understood can steps can be taken improve metal balance.
Regrettably some minesites lack the skills, manpower or even confidence to undertake this analysis. Reconcilor empowers its users to take the next step by automatically consolidating and validating your data as well as offering spreadsheet free analysis.
Regular data imports allow early detection of data issues well before end of month. This allows you to make informed decisions and leaves more time for implementing improvements. Take the hard work out of your reconciliation and start reaping the benefits.
Interested to learn more about how Reconcilor can help your organisation? Get in touch with Rayleen Hargreaves, Reconcilor Product Manager to discuss your needs.