Payable metal

Net mine revenues derived from each metal must also take account of any treatment or refining charges payable to smelters for processing the concentrate. Lead (and zinc) concentrate treatment chatges involve a complex formula based on payable metal content, the presence of credit or penalty elements, prevailing metal prices, differing payment terms and several other components (see Chapter 15). Most individual mines will be... 

Concentrate prices are made up of two main elements the value of contained metal(s) in the concentrate, and the treatment chaise (payable by mines to smelters for processing the concentrate). The value of lead in concentrate (or payable metal) is a fixed proportion of the metal content (95 per cent or the concentrate grade less a 3 unit deduction, whichever is lower), and will therefore vary directly with the price of refined metal. 

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