The Guidelines for Technical Economic Evaluations of Minerals Industry Projects (2012), published by The Australasian Institute of Mining and Metallurgy, provide best-practice guidance for preparing and reviewing economic evaluations in the minerals sector. The document aims to improve transparency, consistency, and reliability in project assessments used for investment and operational decisions. It outlines standards for spreadsheet modelling, emphasizing clarity, logical structure, documentation of assumptions, and auditability. The guidelines distinguish between economic evaluation, financial modelling, and valuation, and stress the importance of assessing risk, uncertainty, and key value drivers through sensitivity and scenario analysis. They also address capital and operating cost estimation, taxation, royalties, and discount rate selection. Overall, the framework promotes disciplined, decision-focused analysis to support robust project appraisal and reduce the risk of flawed investment decisions.
