Metal Value Per Tonne Calculator

Work out metal value per tonne instantly with clear inputs, formula shown and shareable results.

About Metal Value Per Tonne Calculator

Net smelter return per tonne of ore is grade times metal price times recovery, less treatment, refining, penalty and freight charges. It is the revenue figure that mining and processing costs must be compared against, and it is typically 20-35% below the gross in-situ value.

Formula

Net smelter return

NSR = grade x metal price x recovery x (1 - treatment and freight deductions)

Worked example

With the default values below, Metal Value Per Tonne Calculator returns Net Smelter Return Per Tonne of $70.013. Change any input above and every figure here is recalculated in your browser.

Inputs used

Ore Grademinimum 0 %: 1.2 %
Metal Priceminimum 0 per tonne: 8,500 per tonne
Metallurgical Recoveryaccepts 0.01–100 %: 88 %
Treatment, Refining And Freightaccepts 0–80 % of gross: 22 % of gross

Results

Net Smelter Return Per Tonne: $70.013
Gross In-Situ Value Per Tonne: $102.000
Recovered Value Per Tonne: $89.760
Value Lost To Deductions: $19.747

Step by step

1Values used
2Net smelter return
3Net Smelter Return Per Tonne= 70.013
4Gross In-Situ Value Per Tonne= 102.000
5Recovered Value Per Tonne= 89.760
6Value Lost To Deductions= 19.747

Assumptions and limits

The result is derived only from the 4 inputs listed above. Anything not among them is not part of the calculation.
In particular, this calculator does not take inflation, fees or charges or compounding frequency into account.
Figures are rounded for display to 3 decimal places, so totals built from several rounded parts can differ slightly from the unrounded arithmetic.

How these calculators are built and tested is described on the Methodology page. If a figure looks wrong, please report it.

Frequently Asked Questions

Why not use in-situ value?

In-situ value ignores recovery losses and the substantial cost of turning concentrate into metal. Using it overstates revenue by a third or more and produces unrealistic cut-off grades.

How are polymetallic deposits handled?

Sum the net smelter return of each payable metal, then express the total as a single equivalent grade of the primary metal for planning and cut-off purposes.