Standing Committee on Mineral Reserve and Mineral Resource Definitions 2016 Activities
In early 2016, CIM began discussions with Canadian Securities Administrators (CSA) staff to include the two remaining CRIRSCO Core Definitions not referenced to CIM by NI 43-101. During 2016, our committee focused efforts on completing a new definition and guidance for “exploration target”. Following a period of CSA staff review, the final definition was completed in mid-2016. In late 2016, we began work on a definition and guidance for "scoping study". The two new definitions will be forwarded to CIM Council for approval in mid-2017.
During 2016, the committee responded to questions from the CSA and represents CIM on CRIRSCO. Paul Bankes represented CRIRSCO and CIM on the United Nations Expert Group on Resource Classification (EGRC) and served on the UNFC "G" Axis Committee, the CSA-CIM Working Committee and ISO TC 82 Mirror Committee.
Committee for Mineral Reserves International Reporting Standards (CRIRSCO)
The CRIRSCO Annual General Meeting was held in Jaipur, India, on November 7-10, 2016. CRIRSCO members Deborah McCombe and Paul Bankes attended on behalf of CIM.
Discussions were held on how each CRIRSCO member country recognizes new codes and professional associations. Currently the process is varied.
Each country provided an update of any Code or Best Practice Guideline revisions as well as any issues with respect to mining industry disclosure by their regulators with respect to mining industry disclosure identified by their regulators.
Discussions are ongoing with the Philippines, Indonesia, China, India, Mozambique, Columbia, Peru and Argentina as potential future CRIRSCO members.
The next Annual General Meeting will be held in October 2017. CRIRSCO is able to continue its mandate of increasing transparency of disclosure of exploration, results, resources and reserves through the strong support from ICMM and CIM.