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In a licensing relationship the licensee generally obtains the rights to use proprietary data, technology or trademarks from the company from which products or services can be offered to the public whilst being free of operational obligations and onerous royalty fees.
The exclusivity of a licence is of great importance as it allows the licensee to use the brand to differentiate themselves from competitor organisations.
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What is a Licence? Why choose a licence over a franchise? A licence offers a licensee a greater degree of flexibility in conducting their business than a franchise. Generally speaking initial fees for getting into a franchise relationship are higher than those required for a licence. Chairman and independent non-executive director Mr Crawford has extensive experience in risk management and business reorganisation.
He has acted as a consultant, scheme manager, receiver and manager and liquidator to very large and complex groups of companies. Mr Rumble began his career at Richards Bay Minerals in and held various management positions before becoming Chief Executive Officer in Prior to that, he held senior positions at the Council for Scientific and Industrial Research. Prior to joining BHP Billiton he held various roles in investment banking over almost a decade including Executive Director Metals and Mining Research, Macquarie Equities, where he had primary responsibility for Australian listed metals and mining research.
Mr Harris also gained experience with Western Geophysical in Perth, Western Australia where he participated in the reprocessing of seismic data.
Mr Harris holds a BSc in geology and geophysics. In November , he was appointed Asset President, Worsley. Prior to joining BHP Billiton Mr Fraser held a variety of leadership roles in a large internationally diversified industrial business. Previously, Ms Duncan held the role of Senior Manager, Group Legal, supporting the marketing function and prior to that played a key role in operations, major expansions and merger and acquisition projects.
Other includes freight, secondary taxes and royalties, among other things. Beneficiation plant commissioned in Reserves3 94 Mt Further details on reserves and resources confidence classification and reserve and resource life calculations are referenced in Section 6. Other includes freight, consumables and maintenance, among other things. South32 share of sales volumes. FYFY average manganese alloy sales volume of Ktpa.
Wessels: crushing, washing and screening Key contracts Rail contract for 1. South32 share of sales volumes shown. FYFY average aluminium sales volume of Ktpa. FY cost split represents operating cash cost split for Brazil Aluminium. Current mining areas have environmental approval to operate. The increase in Ore Reserves was due to the approval of mining permits for additional plateaus. As further operational licences are obtained, Mineral Resources will be converted to Ore Reserves.
Tonnages are on an in situ moisture basis. Drill hole spacings vary between seams and geological domains and were determined in conjunction with geostatistical analyses where applicable. Total Marketable Coal Reserves tonnes are the tonnage of coal available, at moisture content 9 per cent Appin, West Cliff; Note that where the coal will not be beneficiated, the tonnes of Total Coal Reserves are the tonnes of Total Marketable Coal Reserves, with moisture adjustment where applicable.
Qualities are reported on an air-dried in situ basis. Mineral Resource Sands tonnes and manganese grades are reported as in situ. Ore Reserve tonnes are stated as ROM, manganese grades are reported as expected product and should be read together with their respective tonnage yields.
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Approval of both the Environmental and Social Impact Assessment and Mining Work Program Plan is a consultative process and forms part of the normal course of business. Net value cut-off incorporating material revenue and cost factors and includes metallurgical recovery see footnote 4 for averages. The basis of resource and reserve life calculations is provided in Section 5. Resource life calculations are indicative only and do not necessarily reflect future uncertainties such as economic conditions, technical or permitting issues.
Historical Mineral or Coal Resources to Ore Reserves conversion factors may not be indicative of future conversion factors. Commodity prices and exchange rates used to estimate the economic viability of reserves are based on asset-defined or South32 long-term forecasts. The Ore Reserves tabulated are held within existing, permitted mining tenements.
All Competent Persons have, at the time of reporting, sufficient experience relevant to the style of mineralisation and type of deposit under consideration and to the activity they are undertaking to qualify as a Competent Person as defined by the JORC Code. At the reporting date, each Competent Person listed in Section 7.
Each Competent Person has given; and has not withdrawn their written consent to: The inclusion in the South32 Listing Documents of the Mineral Resources and Ore Reserves information, which they have provided in relation to their respective deposits as set out in the South32 Listing Documents; and The references to their name included in the South32 Listing Documents in the form and context in which they appear and has authorised the inclusion of such information in the South32 Listing Documents.
Each of the Competent Persons accepts responsibility for the relevant Mineral Resources and Ore Reserves information they have provided as set out in Section 7. All tonnes are reported as dry metric tonnes unless otherwise stated. All tonnes and grade information have been rounded, hence small differences may be present in the totals.
All of the Mineral Resources information is inclusive of Mineral Resources that have been converted to Ore Reserves i. Mineral Resources are not additional to Ore Reserves.