Mining and resources

Audit

Whether your business is a listed company, large proprietary company at the beginning of its business journey, or a subsidiary of a multinational company, an audit is essential to know that your results are fairly presented. For companies looking to offer an IPO in the future, an audit is essential to present a properly disclosed track record of results and is a requirement for an ASX listing.

As a leading independent firm, Forvis Mazars is uniquely placed to provide audits for joint ventures and report to each of the venturers' auditors, whilst maintaining independence from the various ventures' auditors. We also have substantial experience in responding to referral instructions from auditors of parent companies and joint venture partners and utilise industry leading electronic audit software to ensure efficient delivery of our audit assignments.

Financial reporting and disclosure advice

The challenging disclosures required for the mining industry requires expert advice and assistance. Differing ownership interests and joint ventures unique to the mining industry will necessitate differing disclosures. It is important to understand what disclosures are required before completing financial statements to ensure that release of results can be achieved on time and audit costs can be kept in check.

Tax

The mining industry is frequently presented with a challenging tax. Specialist tax deductions through capital write-offs for mining and exploration ventures and complex GST issues as well as State royalties require expert advice to lead you through the 'mine field' of taxes. For international clients with Australian mining interests, we can also assist to structure your investment in the most efficient way to minimise taxes internationally.

Forvis Mazars can also assist with salary packaging and employee share scheme advice as well as look after the tax affairs of mining executives and personnel.

Global infrastructure finance 

Financial modelling

A key tool for investment decisions and the basis for management and operations of assets and portfolios.

• Feasibility & investment evaluation models
• Template models
• Financing models
• Operating models
• Portfolio & fund models
• Corporate models

Financial model audit

A global leader in providing independent financial model reviews and financial model audits, supporting a range of transaction and internal governance purposes including:

• Bid submissions
• Financial Close
• Vendor models
• Operating models
• Corporate models

Financial modelling training

Our modelling methodology focuses on flexibility, transparency as well as presentation and has been taught to over 19,000 individuals globally.

• For project finance, corporate finance and individual specific sectors
• Both public and fully tailored courses available
• Enables the development a consistent best practice standard across a team around model architecture and calculation logic
• Held both digitally online and in-person

General operations and administration

Whether you are a small explorer with limited personnel, or a subsidiary of an overseas company getting started in Australia's mining industry, you need to ensure that the business is being operated correctly in accordance with the law and that the myriad of compliance is being taken care of. Forvis Mazars can assist you to take care of all your compliance requirements in a variety of ways. Our services can range from acting in an outsourced CFO / Financial Controller role to assisting with regular compliance and includes:

• Book Keeping / outsourced accountant or accounting support
• Budgeting and financial modelling
• Payroll
• HR advice
• Preparing monthly / quarterly activity statements (GST returns)
• Preparing quarterly royalty returns
• Preparing Fringe Benefits Tax returns
• Preparing annual income tax returns and financial statements
• Corporate Secretarial
• Assistance with ASX compliance (regular reporting including preparation of half year and year end financial report)

Specialist PNG mining/oil and gas tax and business services

Forvis Mazars Tax and Business Service Partner, Peter Maletz has considerable experience in the Mining/Oil & Gas Sector in Papua New Guinea (PNG) having acted for Ok Tedi Mining Ltd, Misima Mines Ltd, Placer Ltd, Chevron Niugini, Mitsubishi Oil, Porgera Joint Venture Ltd, Lihir Gold, Kutubu Joint Venture and many of the junior explorers. Our firm currently acts for a large number of service providers to the resources sector in PNG and has close connections with all of the major operators. We regularly travel to PNG to assist clients with their requirements.

International clients

Forvis Mazars in Australia has a number of staff who are fluent in various foreign languages. In particular, our China Desk and Korean Desk specialise in assisting international clients who wish to commence business in Australia. We also look after the Australian income tax obligations of expatriate employees working in Australia.

Resources

Download - Fuel Tax Credits Refund Fact Sheet