Method for Determining the Annual Mined Mineral Reserves

Article 10 Circular 02/2013/TT-BTNMT

Article 10 Circular 02/2013/TT-BTNMT stipulates that the annual mined mineral reserves are determined based on the following information and documents:

Illustrative image (source: internet)

- The current status maps, cross-sectional drawings of the mining area made in the previous year;- The current status maps, cross-sectional drawings that are updated according to the provisions of Article 4 or additionally created as stated in Clause 2 of Article 9 of this Circular;- Collection of geological and mineral information; data and supplemental samples collected during the mining process of the reporting year;- Data on actual mineral loss rates, mineral impoverishment rates; and actual mineral recovery coefficients during classification and beneficiation processes (if any).

The annual mined mineral reserves are calculated using the reserve calculation method employed when preparing the exploration result report.

According to Circular 02, annual mined mineral reserves are converted to geological volume (minerals remaining in their natural state, not yet mined) and must be determined according to the following two groups of reserve calculation criteria and parameters:

- Criteria and parameters for reserve calculation in the exploration result report;- Criteria and parameters for reserve calculation based on supplementary exploration results and actual mining.

For the statistical determination of mineral reserves, it is based on the information and documents listed in Circular 02/2013/TT-BTNMT as follows:

- Total mined mineral reserves according to the reserve calculation criteria and parameters of the exploration result report up to the time of the statistics. This data is the statistic of the reserves mined during the reporting year.- Total mined mineral reserves according to the reserve calculation criteria and parameters developed based on supplementary exploration results and actual mining up to the time of the statistics. This data is used to calculate mined mineral production, exported mineral volume; total mineral volume consumed in the year; total mineral volume actually mined up to the reporting year.

More details can be found in Circular 02/2013/TT-BTNMT which is effective from April 15, 2013.

Thu Ba

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