Spotless accounting reports are essential when presenting results to the public which is why a group of global mining companies gave AMIRA International the mandate of developing a set of rigorous yet practical metal accounting guidelines for the mining and metallurgical industry.
Meeting these 10 guidelines, known as the AMIRA P754 Metal Accounting Project, should be the aim of the metal accounting industry when selecting an accounting solution. In this three-part post we’re going to show you how Microsoft AX PAM fulfils these guidelines making it the best choice for your mining operation.
The system must be subject to regular internal and external audits and reviews
As a leading mid-tier ERP, AX offers a formally documented system using a relational database with easily enforced coding standards, data validations, and access rights. Assessments of risk are handled by updates to security configuration.
xMMP (exploration, Mining & Minerals Processing) is a mining “ERP” solution that covers the Total Life of Mine (‘LOM’). Managing mineral rights (tenements) claims, exploration, drilling, EPCM for the development phase, actual mining, stockpiles, plant, shipping and dispatching all the way to mine rehabilitation.
Accounting results must be made available timeously, to meet operational reporting needs, including the provision of information for other management information systems
With PAM results are typically out in time for the Accounting department. Investigations are more operational than systematic, but trending and BI analysis of process data can greatly assist troubleshooting.
Where provisional data has to be used to meet reporting deadlines clear procedures and levels of authorisation for the subsequent replacement of the provisional data with actual data must be defined
PAM allows audited updates of provisional assays and (if the financial period is still current) updates to product /tails masses by suitably authorised users.
Lookout for part 3 of our post where we look at four more ways PAM fulfils the AMIRA Principles.
Choosing an integrated mine enterprise resource planning solution over best-of-breed technologies doesn’t have to mean sacrificing on quality or functionality. Dynamics xMMP, with PAM, gives integrated best-of-breed mine functionality. Contact Resolve Immix for more.