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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
- Straight-Through Processing: Completeness and Integration
- Measurement Accuracy
- Data Redundancy and Validation
- Target Accuracy
- Provisional Data
- In-process inventory
Read more about the Ten Best Practises of Metallurgical Accounting