METALS ACCOUNTING RISK
must include sufficient documentation of the data utilised for all calculations. The system must also clearly describe, with words and diagrams, how the metal accounting process works. This information should be made available to all current and new users in order to ensure data transparency, make certain that the quality and limitations of the data are apparent, and confirm that enough information is available to assess the suitability of data obtained.
Enterprise Metal Accounting Solution A successful metal accounting strategy must
ensure compliance with the Ten Best Practices of Metallurgical Accounting. The only way to do this, as recommended by the AMIRA code, is to have a ‘mine to product’ state-of-the-art metal accounting solution. Companies should look for the following features in a metal accounting solution in order to ensure they can implement best practices:
• Straight-through processing capabilities that unify the accounting system to ensure a single,
accurate, and auditable view of production.
• Reliable metrics for optimising overall plant performance and recovery.
• The ability to increase data integrity by capturing changes including date, time, user,
and reason. Kate Lothian is Marketing Director, Coal and Mineral
Industry, with Triple Point Technology – a leader in trading and risk management solutions for commodity markets.
www.tpt.com
• Comprehensive production management functionality including ore and product
movement tracking, inventory management, and production objective comparisons.
• Robust accounting and reporting features for consumables, accounting, and downtime.
A successful metal accounting strategy
must ensure compliance with the Ten Best Practices of Metallurgical Accounting
and
Failure to effectively account for the concentration extraction
of metal poses huge risks.
Undetected losses, lack of market responsiveness, lost profits, and failed corporate governance will not only be perceived by shareholders and auditors as irresponsible but could ultimately lead to organisational collapse. An advanced, comprehensive metal accounting solution is critical to avoiding this fate. •
300+ 14-16 May 2013, The Tower – Guoman, London, UK World Aluminium
The authoritative aluminium event for senior executives
The CRU World Aluminium Conference provided a useful insight into the future of aluminium. Another attraction of the conference is to be able to network with the movers and shakers of the aluminium world. David Walley, EMAL
For more information and to book your place:
www.worldaluminium.com Media Partner:
delegates expected
2013
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