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World Journal of Engineering
Research and Technology

( An ISO 9001:2015 Certified International Journal )

An International Peer Reviewed Journal for Engineering Research and Technology

ISSN 2454-695X

Impact Factor : 5.924

ICV : 79.45

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Abstract

INNOVATIVE SCIENTIFIC VALUATION OF MINERAL RESERVE

Binay Kumar Samanta*

ABSTRACT

One of the largest companies in India, producers of minerals and manufacturer of cement was finding it difficult to continue to operate two limestone mines for economic and environmental reasons. The company wanted a proper evaluation of the mining reserve and engaged ITCOT (Industrial and Technical Consultancy Organization of Tamilnadu). ITCOT considered Various Mine Valuation methods like The International Valuation Standards (IVS), The ISVC IVSC technique, SAMVAL Code of South Africa for the Valuation of Mineral Assets, American Institute of Mineral Appraisers, MINASCO, Australia, Canadian Guidelines for Valuation of Mineral Properties (CIMVAL), Market Price Method, Net Price Method, User Cost Method, Net present value (NPV), Appropriation Method. RBSA report was not adequate and BCL wanted a correct evaluation of the mining property and so the author as Director, Project & Environment Consultants, was engaged by ITCOT for proper computation of two limestone mine reserves by ITCOT Consultancy & Services Limited a Joint Venture of (ICICI, SIDBI, IFCI, SIPCOT, TIIC, SIDCO & Banks).

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