By: Jeff Parshley
SRK Consulting
May 17, 2024 – 1pm MT
Presented by: MMSA QP ENHANCEMENT COMMITTEE
The MMSA QP Enhancement Committee offers a series of webinars about a wide range of topics designed for the professionals working for mining companies and those involved in the preparation of studies and disclosure documents. The Webinars are also of interest to the legal, financial, management and academic sectors of the industry. The Webinars qualify for Continuing Professional Development credits for MMSA QPs.
Title: Mine Closure and Associated Costs: Impact of Closure and Key Points to Consider
Description:
Although specifically included in the key public disclosure standards, mine closure and associated costs are often considered relatively unimportant due to the timing of closure expenditures late in the mine life cycle. During early project phases closure plans are typically conceptual and may (or may not) provide adequate detail for estimating costs at the required level of accuracy. The impact of closure costs on NPV calculations may be limited for many projects due to the effects of standard discounting procedures, and as a result, considered inconsequential in decision making. However, when evaluating closure and closure costs as a Qualified Person, it is important to understand the true cost of closure (less discounting).
This webinar will address key points to consider as a QP when evaluating closure plans and then look at key aspects of closure costs and methods used to estimate them. We will explore the major costs, determining the accuracy of the cost estimates, typical areas of cost uncertainty, and the effects of NPV calculations on cost estimates. We will also look at how closure costs evolve over time as projects evolve.
Bio: Jeff Parshley
Jeff Parshley is a corporate consultant at SRK Consulting in Reno, NV. Jeff has worked in the mining industry for more than 40 years, specializing in mining environmental issues including environmental impacts, permitting, mine closure, and environmental geochemistry. He has worked on mine closure projects for the last 35 years and developed a number of cost estimating models that more realistically captured reclamation and closure costs. In the early 2000s the mining industry and regulators in the State of Nevada joined to investigate the concept of a standardized approach to reclamation cost estimating which ultimately resulted in the creation of the Standardized Reclamation Cost Estimator (SRCE). Jeff was the principal author of this public domain software. Since the original release in 2006, SRCE has been used by the industry globally in more than 30 countries.
Webinars are limited to 100 registrants. To register for this free Webinar:
https://us02web.zoom.us/meeting/register/tZcvd-ygqD8vG9aN8VKAKJcP6PS6bqLGY_L1
The Webinar will be recorded and posted on YouTube. A summary and links to the video will be posted on the MMSA Web site after the event: https:\\www.mmsa.net.