Guidelines for technical economic evaluation of minerals industry projects / Руководство по технико-экономической оценке проектов в горнодобывающей промышленности

The Australasian Institute of Mining and Metallurgy (The AusIMM) is the leading organisation representing technical minerals sector professionals in the Australasian Region.  Members are bound by a Code of Ethics, and continual improvement of professional and industry standards within the sector in which they work.
The minerals industry has a bad history of decisions being underpinned by faulty economic evaluation modelling.  These have ranged from minor mine‐site decisions to major corporate acquisitions.  Too often the modelling was convoluted, ‘sophisticated’ and personalised, so audit was tedious and frustrating.  Consequently, people at all levels have called for ‘simple’ evaluation models.  What they mean is modelling that is ‘easy‐to‐follow’ even when the subject is complex and so the model becomes long and detailed.  If the models are made to be transparent, intuitive and fast to audit then these errors can be eliminated.  
The AusIMM has taken up this challenge and established the “AusIMM Guidelines for Technical Economic Evaluation of Minerals Industry Projects”.  It is a collation of sound practices that competent practitioners in economic evaluation have established over the years for the technical‐economic evaluation of mines, processes, projects, studies, businesses, companies and industries. <...>