Requirements for calculation of reserve and apatite ore resources in Vietnam from February 15, 2016

Requirements for calculation of reserve and apatite ore resources in Vietnam from February 15, 2016 - Illustrative Image

According to Article 21 of Circular 74/2015/TT-BTNMT, the requirements for calculation of reserve and apatite ore resources are specified as follows:

1. The calculation of apatite ore reserves and resources must be based on the reserve calculation criteria detailed in the mineral exploration result report for each mine.

2. The method for calculation of reserve and apatite ore resources must be selected to suit the structural characteristics of ore bodies in each mine and the characteristics of the constructed exploration network. The use of specialized software for reserve calculation is encouraged.

3. Apatite ore reserves and resources are the reserves currently in the ground, excluding losses during mining and processing, and are calculated in thousand tons for ore and P2O5.

4. Each apatite ore body reserve and resource is depicted on a plan or cross-section for reserve calculation at a scale equal to or greater than the geological map scale based on the mine's scale and ore body characteristics. The reserve calculation results must be shown by ore type for each ore body and by reserve and resource classification.

5. Apatite ore reserves and resources are calculated and presented in the mineral exploration result report. The documents for calculating stripped rock reserves used as construction materials and other associated minerals (if any) are presented as appendices to the report.

Additionally, Article 22 of Circular 74/2015/TT-BTNMT outlines the highest reserve classification and the proportion of reserve classes as follows:

- The highest reserve classification for group I and II mines must be explored to class 121; for group III and IV mines, the highest reserve classification must be explored to class 122.- The proportion of class 121 and 122 reserves is determined by the investor based on the geological characteristics of the mine, financial capability, technical mining conditions, and planned mining capacity, but must ensure that the highest reserve class proportion of the total mine reserves is not less than 10% and must be indicated in the exploration project.

For more details, refer to Circular 74/2015/TT-BTNMT, effective February 15, 2016.

Le Vy

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