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103R-19: Project Code of Accounts – As Applied in the Mining and Mineral Processing Industries to Facilitate Benchmarking

103R-19: Project Code of Accounts – As Applied in the Mining and Mineral Processing Industries to Facilitate Benchmarking
AACE International, October 10, 2019

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This recommended practice (RP) is an industry-specific addendum to AACE International Recommended Practice 20R-98, Project Code of Accounts. This document describes suggested code of accounts (COA) as applied to projects in the mining and mineral processing industries. However, it is limited to defining the coding divisions for the product or deliverable and the discipline or prime account elements. For purposes of this RP, the work breakdown structure (WBS) refers to product-oriented (functional) elements. It is recognized that in some usage, WBS incorrectly reflects broader content than just the product-oriented element.

This RP by reference defers to the Level 1 coding structure for the discipline or prime account direct cost elements in Table 7 of RP 21R-98 (Project Code of Accounts as Applied in Engineering, Procurement and Construction [EPC] in the Process Industries). However, this RP extends RP 21R-98 Table 7 to Level 2, primarily to highlight the importance of capturing the investment in mobile equipment for mining production (e.g., shovels) and infrastructure (e.g., rail engines) in the Equipment account.

This RP defines the mining and mineral process industries consistent with RP 47R-11, Cost Estimate Classification - As Applied in the Mining and Mineral Processing Industries. That RP in turn refers to the Canadian Securities Administrators National Instrument 43-101 (NI 43-101) definition of mining as “any exploration, development or production activity, including a royalty interest or similar interest in these activities, in respect of diamonds, natural solid inorganic material, or natural solid fossilized organic material including base and precious metals, coal and industrial minerals”. This RP excludes subsea mining and also excludes coding for the oil and gas industries which is covered by ISO 19008:2016, Standard cost coding system for oil and gas production and processing facilities.

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