Parshley is a specialist in mine closure and reclamation cost estimation. In the early 2000s, mining-related bankruptcies highlighted the inability of existing estimation methods to accurately forecast reclamation and closure costs.
As a result, the mining industry and regulators in the State of Nevada joined forces to investigate the concept of a standardized approach to reclamation cost estimating. This led to the development and release of the Standardized Reclamation Cost Estimator (SRCE) in 2004. Parshley was the primary author of this public domain software and continues to volunteer his time to expand the model’s capabilities. A new, international version was released in 2009 and in 2012 the original,
Nevada version was updated to better accommodate the multi-faceted aspects of mining processes and the evolving uses for closure cost estimates.
“Before regulatory requirements were developed, closure cost estimates were typically intended for the planning, design, and contracting of the closure and were often developed late in the mine life cycle,” said Parshley. “With
mining law changes and the need to provide financial surety for closure activities, the estimation focus shifted to the liability of the government that would assume responsibility if the operator did not fulfil its closure
commitments. More recently, the scope and details of closure cost estimating have changed to enable accurate reporting of financial liabilities to shareholders and lending institutions. It is essential to understand these distinct
types of estimation in order to select an appropriate method for each project.”
In accommodating these differing requirements, the SRCE has simplified the regulatory and financial review process and greatly accelerated the preparation of reclamation cost estimates.
Parshley’s award recognizes the time and expertise he has volunteered in the development of a reclamation cost estimate model that benefits mining exploration and development industries worldwide.
