In this episode of Fresh Thinking by Snowden Optiro, Rayleen Hargreaves, Principal Consultant at Datamine and Product Owner of Reconcilor, talks with Ian Glacken, Executive Consultant at Snowden Optiro, about the importance of reconciling mineral resources and reserves across the mine value chain.
Resource and reserve reconciliation is often given less attention than the production stages of the mining process, yet it provides an important link between what a company reports, what it plans to mine, and what is ultimately produced.
Rayleen and Ian discuss:
The role of resources and reserves in the mine value chain
The differences between mineral resources and mineral reserves • Why resource and reserve reconciliation is important
The value of monthly reconciliation and early warning indicators
Why reserves need to be represented as a model that can be depleted
How to approach reconciliation when mining occurs outside the reported reserve
The relationship between resource, reserve and grade control reconciliation
The growing importance of transparency and reconciliation in reporting codes
The discussion also considers potential changes to the JORC Code and the role that resource and reserve reconciliation could play in improving transparency for companies, shareholders and other stakeholders.
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