Modifying Factors definition

Modifying Factors means the considerations used to convert Mineral Resources to Mineral Reserves. These include, but are not restricted to mining, processing, metallurgical, infrastructure, economic, marketing, legal, environmental, social and governmental factors.
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Modifying Factors means considerations used to convert Mineral Resources to Mineral Reserves. These include, but are not restricted to, mining, processing, metallurgical, infrastructure, economic, marketing, legal, environmental, social and governmental factors. “MRE” means a Mineral Resource estimate. “Mtpa” means million tonnes per annum. “NPV” means net present value. “Pre-Feasibility Study” means a comprehensive study of the viability of a mineral project that has advanced to a stage where the mining method, in the case of underground mining, or the pit configuration, in the case of an open pit, has been established and an effective method of mineral processing has been determined, and includes a financial analysis based on reasonable assumptions of technical, engineering, legal, operating, economic, social, and environmental factors and the evaluation of other relevant factors which are sufficient for a Qualified Person, acting reasonably, to determine if all or part of the Mineral Resource may be classified as a Mineral Reserve. A Pre-Feasibility Study is at a lower confidence level than a Feasibility Study. “Probable Mineral Reserve” means the economically mineable part of an Indicated and, in some circumstances, a Measured Mineral Resource demonstrated by at least a Pre-Feasibility Study. The confidence in the Modifying Factors applying to a Probable Mineral Reserve is lower than that applying to a Proven Mineral Reserve. “Proven Mineral Reserve” means the economically mineable part of a Measured Mineral Resource demonstrated by at least a Pre-Feasibility Study. A Proven Mineral Reserve implies a high degree of confidence in the Modifying Factors. “QP” or “Qualified Person” means a “qualified person” as defined by NI 43-101. “t” or “tonne” means a measure of weight equal to 1,000 kilograms or 2,204 pounds. “waste” means barren rock in a mine, or mineralized material that is too low in grade to be mined and milled at a profit. “wmt” means wet metric tonne.
Sample 1
Modifying Factors are considerations used to convert Mineral Resources to Mineral Reserves. These include, but are not restricted to, mining, processing, metallurgical, infrastructure, economic, marketing, legal, environmental, social and governmental factors.
Sample 1

Examples of Modifying Factors in a sentence

  • It includes diluting materials and allowances for losses, which may occur when the material is mined or extracted and is defined by studies at Pre-Feasibility or Feasibility level as appropriate that include application of Modifying Factors.

  • No amount of confidence in the Modifying Factors for conversion of a Mineral Resource to a Mineral Reserve can override the upper level of confidence that exists in the Mineral Resource.

  • The confidence in the Modifying Factors applying to a Probable Mineral Reserve is lower than that applying to a Proved Mineral Reserve.

  • A Probable Mineral Reserve derived from a Measured Mineral Resource may be converted to a Proved Mineral Reserve if the uncertainties in the Modifying Factors are removed.

  • In such a situation these Modifying Factors should be fully explained.

  • A Proven Mineral Reserve implies a high degree of confidence in the Modifying Factors.

  • Documentation should include assumptions made and the procedures used.• Accuracy and confidence discussions should extend to specific discussions of any applied Modifying Factors that may have a material impact on Ore Reserve viability, or for which there are remaining areas of uncertainty at the current study stage.• It is recognised that this may not be possible or appropriate in all circumstances.

  • A Proved Mineral Reserve implies a high degree of confidence in the Modifying Factors.

  • Such studies will have been carried out and will have determined a mine plan that is technically achievable and economically viable, and that material Modifying Factors have been considered.

  • The confidence in the Modifying Factors applying to a Probable Mineral Reserve is lower than that applying to a Proven Mineral Reserve.

Related to Modifying Factors

  • Performance Factor means any matter that could or will significantly affect a party’s ability to fulfill its obligations under this Agreement;