metal accounting audits
Metal Accounting (Metallurgical Accounting)
Data generated in Metal Accounting is used for:
- Production records, set-points for process variables and capital expenditure justification.
- Financial and corporate statutory reporting.
- Testing the mine model and optimising the mine plan to maximise economic returns.
- An early indicator of gold theft.
Two approaches to Metal Accounting:
- Predictive Metal Accounting. Metal production is estimated from daily production data.
- Reconciled Metal Accounting. Metal production is reconciled with actual metal production over a week, month, quarter etc.
- Accurate metal accounting occurs when predicted and reconciled metal production align.
Knowledge and Experience
Bill McCallum is considered an expert in this field by many of his peers and has completed Metal Accounting Audits at mine-sites across Australia, South East Asia and West Africa. Bill has also acted as Technical Expert during a successful arbitration hearing in a dispute arising from a toll milling agreement - the two parties disagreeing on gold production during the toll milling programme.
Bill McCallum has developed several tests/procedures for identifying factors impacting accurate metal accounting.