At the present stage of geological knowledge development in Ukraine, a large number of subsurface use objects require geological and economic assessment or re-assessment to obtain accurate data on the market value of the deposit field, optimization of technical and economic indicators of production, prospects and economic efficiency of further object’s development or exploration, calculation or refining of the enterprise’s profitability.

The need for deposits’ geological and economic assessment or re-assessment is associated with the revamping of economic indicators of minerals’ industrial development, reserves’ redistribution, decommissioning of unprofitable reserves, mineral prices changes on the world market, the introduction of new technologies and techniques for mining and processing.

The deposits’ geological assessment is based on the results of geological exploration, including fieldwork and operational exploration, which are generalized during the calculation of mineral reserves. The last ones determine the natural value of deposits, which depends not only on their amount but also on the complexity of the geological structure, hydrogeological and mining conditions, technological properties of minerals, technology of extraction and minerals’ processing.

Geological and economic assessment should begin with verification and evaluation of primary geological materials, completeness, quality and accuracy of which affect the correctness of ideas about the object’s geological structure, its morphology and bedding conditions of mineral bodies, hydrogeological, mining and other field conditions and, accordingly, the accuracy of reserves’ contouring and calculation (recalculation), the objectivity of technical and economic calculations on the efficiency of industrial development or further development of deposit.

One of the most important tasks in the process of geological and economic assessment is the feasibility study of conditions for mineral reserves’ calculation. Conditions take into account not only the state and economy of the mining industry and industry requirements for the quality of mineral resources, but also the natural features of the assessed object, which determine the scale of reserves and mineral’s quality, its technological properties, mining conditions and geographical location. The economic assessment of the deposit determines the economic effect from mineral reserves use and is based on the results of the geological mineral reserves calculation. Economic assessment covers the analysis of factors that determine the economic efficiency of field operation and the effectiveness of capital investment in the construction or modernization of industrial production complex. Geological and economic assessments are closely linked and almost indivisible. Correct and timely done geological and economic assessment of mineral deposits is the basis for planning exploration and extractive works and determining the economic efficiency of the enterprise, and of course expedite conservation of mineral resources and rational use of subsurface.

Geological and economic assessment (revaluation) of mineral reserves is performed in accordance with the requirements of the “Methodological recommendations regarding the content, issuance and presentation procedure of geological and economic assessment materials (concerning metallic and non-metallic mineral deposits) to the State Commission of Ukraine on Mineral Resources”, approved by an order of the State Commission of Ukraine on Mineral Resources dated 21.07.2015 № 293, “Methodological instructions regarding geological and economic revaluation of solid mineral deposits, reserves of which have been approved previously”, approved by an order of the State Commission of Ukraine on Mineral Resources dated 10.01.2013 № 5/1, “Statute of conducting state examination procedure and assessment of mineral reserves “, approved by a decree of Ukraine’s Cabinet of Ministers dated 22.12.1994 № 865 (with changes and additions dated 27.08.1997 № 927, dated 04.10.2000 № 1512, dated 25.10.2002 № 1595).

Subsurface users should be interested in conducting geological and economic assessment in particular, because as a result of these works they receive an objective assessment of company’s activity and the object’s true value within up-to-date market conditions.

UKRSGRI’s specialists have significant experience in performing geological and economic assessment (revaluation) of mineral reserves, feasibility study of constant conditions, as well as conducting support within State Commission of Ukraine on Mineral Resources. It is also possible to perform only certain sections of the geological and economic assessment report or certain types of work carried out during such assessment, or precede it:

  • generalization and assessment of available materials gotten from geological exploration and deposit’s development, which have to be used to perform geological and economic assessment;
  • materials’ addition in case of their insufficiency for geological and economic assessment conducting;
  • comparison of some indicators and parameters according to prospecting and industrial development;
  • reserves’ calculation or recalculation;
  • consultations, methodical and technical assistance during reports and graphic applications, etc. compiling.

USGRI is a reliable partner in contractual relations, which will provide geological and economic assessment services of high quality and at a high professional level.

If you want to receive a price offer or a draft contract, please contact the following contacts:

Karlenko Illia Serhiiovych – departmental head,
tel./fax: +380 (44) 426-92-04,
+380 (50) 445-24-66,