Entries for October 2013

Triple Point’s Algosys metal accounting team have been busy in South American recently. Donald Leroux was invited to speak at two prestigious mineral processing conferences: Procemin in Santiago, Chile and ENTMME in Goiânia, Brazil.

Both presentations focused on the need for accurate in-process inventory estimation methods in mineral and metal processing plants. As these inventories can represent a significant amount of money, they need to be estimated as accurately as possible.  Algosys metallurgical accounting solution enables organisations to reconcile differences in measurement results, ensuring any changes to in-process inventories are both transparent and auditable.

Managing in-process inventories is just one of the Ten Best Practises of Metallurgical Accounting* as set out by a group of six companies (including BHP Billiton and Anglo American) in the AMIRA P754 code. These guidelines were developed as a response to rigorous corporate governance requirements and turbulent economic conditions. By adhering to the Ten Best Practices and implementing a powerful enterprise metal accounting software solution, organisations can reduce risk, maximise profitability and ensure compliance. 

*Ten Best Practises of Metallurgical Accounting

  1. Straight-Through Processing: Completeness and Integration
  2. Measurement Accuracy
  3. Data Redundancy and Validation
  4. Target Accuracy
  5. Provisional Data
  6. In-process inventory
  7. Timeliness
  8. Auditability
  9. Transparency
  10. Documentation

Read more about the Ten Best Practises of Metallurgical Accounting

One month ago, U.S. oil traders weren’t paying much attention to the healthcare debate in Washington. They were more concerned about refinery operations in the Gulf, growing tension with Syria, and hundreds of other factors that would likely affect oil prices. After all, what were the odds that the U.S. government would actually shut down?

On October 1, everyone found out. Non-essential employees were sent home, projects were put on hold indefinitely, and non-mandatory spending was cut off. Suddenly the world’s largest oil consumer needed a lot less oil. Market participants who hadn’t accounted for the possibility of a shutdown, or come up with a contingency plan, found themselves exposed. And even as the shutdown appears likely to come to a close; uncertainty looms large as traders await the release of inventory data.

It is clear that the only way to succeed in today’s oil markets is to rely on new technology. No series of spreadsheets can account for all of the variables that threaten to dissolve margins and eliminate profits. Triple Point’s energy trading and risk management (ETRM) enterprise software, Commodity XL, stands alone in its ability to mitigate risk by providing comprehensive analysis throughout the oil market value chain. Learn more about Commodity XL for Oil.

Events

Procemin 10th International Mineral Processing Conference

October 15-18, 2013 | Chile

XXV Brazilian National Meeting of Mineral Treatment and Extractive Metallurgy (ENTMME)

October 20-24, 2013 | Brazil



Opinions expressed on this blog are those of its individual contributors, and do not necessarily reflect the views of Triple Point Technology, Inc.