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  • Accounting for Small Mining Operation

    Income. The revenue of a mining company from the sale of ore or concentrates comes in the form of remittances, accompanied by settlement sheets made out by the buyer of the mine product, such as a smelting company. It is the duty of the mine accountant (or the person to whom this is assigned in connection with other work) to check these ...

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    In 1915, an ounce of gold was worth $488.66 per ounce in today’s dollars and as of May 15, 2020, $1,751 per ounce.

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  • Copper Mining and Processing: Life Cycle of a Mine

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  • Financial Statements: Balance, Income, Cash Flow, and

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    Revenue is the total amount of income generated by the sale of goods or services related to the company's primary operations. Income or net income is a company's earnings or profit.

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    The examples just noted for a discount allowed also apply to a discount received. Accounting for the Discount Allowed and Discount Received. When the seller allows a discount, this is recorded as a reduction of revenues, and is typically a debit to a contra revenue account. For example, the seller allows a $50 discount from the billed price of $1,000 in services that it has provided to a ...

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    Unused mining rights held by mining groups, but not used for years, were awarded to newly established junior companies that showed themselves to be true mining entrepreneurs. The Nedbank South African Junior Mining and Exploration Index, established in September 2006, provides a measure of performance of all the South African listed junior mining and exploration stocks, excluding oil and gas.

  • Mining Lease Agreement between United Mines, Inc.

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  • Glossary of Mining Terms - SEC

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  • Chart of Accounts: Example and Explanation -

    For example, employee salaries may have various accounts for different departments and be included in the chart of accounts as: 5011 Salaries Expense – Administrative, 5012 Salaries Expense – Servicing, 5013 Salaries Expense – Marketing, etc. Again, take note that the chart of accounts of one company may not be suitable for another ...

  • * *

    The materials of processing: *

    • Granite
    • Limestone
    • Basalt
    • Pebble
    • Gravel
    • Gypsum
    • Marble
    • Barite
    • Quartz
    • Dolomite
    • Gold Ore
    • Copper ore
    * *

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