Companies may be savaged in the market when production guidance is not met

These guidance numbers have been generated by diligent, intelligent and hard-working professionals who have the best interests of their company and shareholders in mind. However, the challenges of creating plans that can be mined and then mining to those plans spans a multidisciplinary team that must act effectively together if guidance numbers are to be achieved.  Being clear, consistent and transparent about what is in the ground is a key pillar but delivering on metal production promises is equally critical. 

Mine reconciliation uses a multi-disciplinary approach across the entire mining value chain to strengthen the interplay between the technical disciplines and to identify opportunities and loss of value in order to maximise operational performance.

(Hargreaves, R and Morley, C. Universal Reconciliation – A Multi-disciplinary approach across the entire Mining Value Chain to Identify Loss of Value and Maximise Operational Performance, p416, AusIMM Ninth International Mining Geology Conference, Adelaide, SA, 2014)

The results of an independent reconciliation review quickly show how misinformation and assumption causes sub-optimal decisions to be taken, where inefficiencies exist and what the opportunity is to remedy these issues.  The Reconciliation review process is designed to assess, define and prioritise actions required to improve the reconciliation systems and all mine value chain activities at a mining operation.  Once the basis of the existing reconciliation practice is established and actions have been assigned to achieve the desired improvements, the application of a reconciliation code of practice ensures the process of reconciliation becomes sustainable and proactive leading to a situation of ongoing continuous improvement.

If you would like more information on Snowden’s reconciliation review process, please don’t hesitate to drop us a line. You can get in touch via email here.

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