Main job function
Cost Analysis & Reporting:
Analyze mining operations costs, including extraction, processing, and transportation expenses.
Prepare detailed cost reports, highlighting key cost drivers and areas for improvement.
Report on cost variances and trends, offering recommendations for cost-efficiency enhancements.
Inventory & Material Costing:
Track, analyze, and report on inventory levels, material usage, and associated costs specific to mining operations.
Review and manage stock valuation methods and ensure the accurate recording of inventory and production costs.
Investigate variances in material and production costs, ensuring proper accounting in the general ledger.
Budgeting & Forecasting:
Support the preparation of annual budgets and financial forecasts related to mining operations and capital projects.
Monitor actual costs against budget, explaining significant variances and recommending corrective actions.
Provide detailed cost estimates for operational and capital projects, ensuring financial alignment with company objectives.
Operational Cost Control:
Collaborate with operations and procurement teams to analyze costs related to equipment, labor, and raw materials in the mining process.
Implement and maintain cost control processes, identifying areas for cost reduction without compromising safety or productivity.
Evaluate the financial impact of operational changes and cost-saving initiatives.
Cost Accounting Systems & Processes:
Maintain and enhance cost accounting systems to ensure accurate, timely recording of mining operation costs.
Develop and implement internal controls to safeguard financial data integrity and compliance with industry standards.
Generate cost reports and present findings to senior management for informed decision-making.
Variance Analysis:
Perform detailed variance analysis by comparing actual costs to budgeted or standard costs across different stages of the mining operation.
Investigate variances in labor, material, and overhead costs, providing actionable insights to management.
Suggest and implement corrective actions to mitigate unfavorable variances.
Compliance & Audits:
Ensure compliance with all relevant financial regulations and industry-specific accounting standards (IFRS/GAAP).
Assist in internal and external audits by providing necessary documentation and ensuring transparency in cost-related financial statements.
Support tax reporting and compliance for mining operations as required.
Qualifications
Bachelor's Degree in Accounting, Finance, or related field.
Professional accounting certification (e.g., CIMA, CPA, ACCA) preferred.
Criteria
Minimum of 5 years' experience in cost accounting within the mining industry.
Extensive knowledge of cost structures and accounting practices specific to mining operations, including labor, equipment, materials, and processing costs.
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