How much of the inherent or potential monetary value of the valuable component(s) in the mineral resource was retained or recovered in the exploitation of the mineral deposit and sold at the optimum potential price to the market.
Product Payability Attrition (the reasons for not achieving the maximum potential product payability)
A decrease in product payability is typically the result of a decrease in product(s) sales value, volume, and grade through the mining value chain due to lower product(s) recovery/yield achieved, sub-optimisation of product(s) grades and not achieving the maximum potential product sales price.
There are five definite areas of product Payability Attrition, namely:
- Loss in valuable minerals/product during handling of the ore at various activities in the value chain, from the blasting/cutting of the insitu ore to the product stockpiles.
- Loss in product due to in-effective plant processing (liberation and separation) which lead to low product recoveries/yields
- Product dilution with waste or inferior chemical elements which will degrade the valuable metal/mineral content of the product and decrease the sales values: i.e. higher vs. lower product concentrate grades and the associated product sales price difference between the two options
- Not developing premier product price options associated with stable and predictable product grades in context with customer specifications (if available) due to poor product quality control
- Not exploiting niche product markets (if available) due to poor product quality control
- Any combination of the above
We know natural resources