Assessing the Total Cost of Representativity in Flotation Plants

"The risk management objective of the AMIRA Code of Practice for Metal Accounting has seldom been systematically investigated in the literature up to the authors’ knowledge. Risk is defined in the Australian Standard on Risk Management (AS/NZS 4360:2004), as “the chance of something happening that will have an impact on objectives”. The simplified economic analysis performed in this paper has lead to define “something happening” as measurement non-representativity and “impact on objectives” as NSR loss from the optimal NSR. This has pinpointed a missing link being the establishment of a relation between NSR in flotation plants and measurement representativity. The proposed framework, referred to as the total cost of representativity, answers the previously unanswered question of how much accuracy/reproducibility is fit for purpose in a given flotation plant. Authors readily acknowledge that it is way easier to assess the cost of accuracy/reproducibility than the cost of inaccuracy/irreproducibility. However, this exercise not only answers previously unanswered questions but also establishes an essential link with operational excellence. This paper exposes why such operational excellence could neither be attained nor proved without a state of the art metal accounting system. This should impact not only how metal accounting systems are audited/designed/refactored, but also how flotation plants are designed.IntroductionBecause representative metal accounting is a vital source of information for the financial accounts of a mining/metallurgical company, the need for a code on metal accounting was recognized in 2001 and a team was formed in 2003, under the sponsorship of several major mining houses, to produce such a code. Table 1 exposes the two main objectives of this AMIRA Code of Practice for Metal Accounting."