TITLE:
Valuation of Mineral Resources in Selected Financial and Accounting Systems
AUTHORS:
Robert Uberman
KEYWORDS:
Mineral Resources, Valuation, Accounting for Mineral Assets, Valuation Codes
JOURNAL NAME:
Natural Resources,
Vol.5 No.9,
July
31,
2014
ABSTRACT:
The paper presents reviews of
fundamental issues regarding valuation methodologies of mineral deposits: 1)
recommended by mineral industry standards; 2) used for disclosures in financial statements
and 3) adopted in national statistics. A discussion of historical developments
of various regulations is supplemented by characteristics of key valuation
methods. Differences and similarities are analysed and compared to current
practices. A special attention is given to certain distinctive issues which are
not shared by most of other types of assets like inclusion of decommissioning
and rehabilitation costs or consequences of long duration of investment phase.