news / Current Issues
16/01/2012 Revised Standard Definitions
At the CRIRSCO Annual Meeting in 2011, the Standard Definitions were modifed slightly. NROs are to consider the changes and forward any comments, as well as to indictate a time frame in which the definitions could be incorporated into Codes/Standards.
Please click here to view CRIRSCO Standard Definitions
16/01/2012 Revised Terms of Reference
The Terms of Reference for CRIRSCO have been modified, mainly to cater for the admission of Russia as a member.
Please click here to view CRIRSCO Terms of Reference
3/11/2011 Seminar on International Minerals Reporting - globalisation and regulation.
In conjunction with the CRIRSCO Annual Meeting, Simmons & Simmons and Minsouth sponsored an all-day Seminar on the above theme. CRIRSCO is grateful for their support.
Click here to see the Agenda
Presentations
Morning Workshop
Introduction - CRIRSCO's role in International Minerals Reporting Standards
What the investor/market requires
The CRIRSCO Template: core standard definitions
CRIRSCO and evolving international accounting standards: IFRS
Sustainable development: ICMM and Minerals Reporting
Potential CRIRSCO Members ( Russia, Philippines, China, Indonesia,
Mongolia, Peru, Argentina, ...)
2011 Review of the JORC Code
Afternoon Workshop
Introduction - How CRIRSCO operates
ESMA and CRIRSCO: Reporting standards in Europe - and beyond?
Practical questions on use of the ESMA Guidelines
The USA - is the SEC out of line?
The South African regulatory system
Chilean mining law and reporting standards
The new NI43-101
Russian mining law, CRIRSCO, and the new Russian reporting standard
1/11/2011 CRIRSCO Annual Meeting Open Session
CRIRSCO held its Annual Meeting on Tuesday November 1 and Wednesday November 2. The public was welcome to be present for the morning session on Tuesday. Updates were provided by CRIRSCO representatives on National Reporting Standards, meetings on the UNFC and the IASB project. CRIRSCO is very grateful for the continuing financial support of ICMM, on which CRIRSCO depends to hold the Annual Meeting.
Presentations
Update from JORC – An eventful year!
THE CHILEAN COMMISSION: The last three years
PERC Progress: 2010-11
SAMREC/SAMVAL Committee (SSC)
The New Russian Reporting Standard
CRIRSCO/UNECE Cooperation and Developments
IASB (Public Session)
1/11/2011 MOU signed with Mongolia
A Memorandum of Understanding was signed between CRIRSCO and the Mongolian State Professional Committee on Mineral Resources (MSPCMR) during the CRIRSCO Annual Meeting in London. The objective is to collaborate on the development and implementation of a national reporting standard for Exploration Results, Mineral Resources and Mineral Reserves in Mongolia, that is compliant with the CRIRSCO Template.
Click here to see a copy of the MOU.
Click here to see a photo of Deborah McCombe, Chairperson of CRIRSCO, and Mr Oyunbaatar Ulzii, Chairman of the State Minerals Resource Committee, following the signing of the MOU.
31/10/2011 Minsouth Seminar
In conjunction with the CRIRSCO Annual Meeeting in London, Minsouth sponsored a Seminar on Competency and International Minerals Reporting. CRIRSCO is grateful for the support of Minsouth and IOM3.
Click here to see the Agenda
Presentations
The history and role of CRIRSCO and the
CRIRSCO Template
What is a Public Report? What is a Competent Person?
Competent Person concepts in European countries and the mobility of technical professionals between member states
Competent Persons and Experts in Russia
The CRIRSCO Standard definitions
CRIRSCO, UNFC-2009 and PRMS: the significance and relevance of their cooperation
Relationships between regulators, markets, companies, investors, and professional organisations: questions of discipline
An example of monitoring of compliance-JORC, ASX and AusIMM
31/10/2011 NAEN Code
The NAEN code was signed by the Chairperson of CRIRSCO, Deborah McCombe, and the Chairman, Supervisory Board, NAEN, Yuri Podturkin, when Russia joined CRIRSCO.
Click here to view NAEN Code.
31/10/ 2011 Russia joins CRIRSCO.
At a seminar associated with the Annual Meeting of CRIRSCO in London, a ceremony was held to mark the formal admission of Russia to CRIRSCO.
Click here to view press release.
Click here to view photo.
29/09/2011 CRIRSCO presentation by Roger Dixon at International UNFC(2009) Workshop.
29-30 September 2011 Ankara Turkey.
Click here to view presentation
01/07/2011 Deborah McCombe assumes role of Chairperson of CRIRSCO.
Deborah McCombe, of CIM (Canada), has been elected to the position of Chairperson of CRIRSCO, following the completion of the two-year term of Roger Dixon of SAMCODES (South Africa). She was previously First Deputy Chair of CRIRSCO and Edmundo Tulcanaza of IMEC (Chile) now fills this position.
During the term of Roger's leadership, CRIRSCO has achieved significant progress in all areas of activity and is now recognised throughout the mining world by companies, professional societies and regulators alike. Some significant achievements are the consolidation of the Strategic Partnership with ICMM, the close working relationship with UNECE and the issuance of UNFC 2009, the continued interaction with IASB, the agreement on the CRIRSCO Core Definitions, the development of Guidelines for mapping the CRIRSCO Template to the Russian Code and the promotion of CRIRSCO through the template to other potential members.
Deborah congratulated Roger on his strong leadership and hard work on behalf of CRIRSCO and said she is excited about taking on the role and continuing the promotion of international best practice in the reporting of Mineral Exploration Results, Mineral Resources and Mineral Reserves.
29/6/2011 Address by Chairperson, Roger Dixon, to Coaltrans Conference in South Africa.
Click here to view presentation
19/04/2011 - Feedback Statement from European Securities Markets Authority (ESMA)
Click here to read the Feedback Statement from ESMA. ESMA has replaced CESR, which sought submissions from interested parties (see item below of 8/07/2010). It is significnt that the list of acceptable reporting codes now includes only those aligned with CRIRSCO standards. CRIRSCO's recent work with IASB was duly recognised.
15/02/11 - Letter of Invitation from the Chairperson to potential members of CRIRSCO
Click here to read the letter of invitation from the Chairperson to potential members of CRIRSCO.
04/02/11 - Draft Core Definitions
Click here to view Draft Core Definitions, agreed to at the Annual Meeting in Moscow, September 2010. These have been sent to Member NROs for review and for comment as to if, how and when they might be incorporated into individual Codes or Standards.
09/11/10 - Report on 2010 Annual Meeting.
Click here to view the Report on the CRIRSCO Annual Meeting, held in Moscow on 28 and 29 September, 2010.
09/11/10 - Position Paper.
Click here to view a Position Paper on Mineralisation beyond Inferred Resources. CRIRSCO welcomes comments on this paper and contributions should be addressed to the Chairman, Roger Dixon.
28/09/10 - Protocol of Intentions between CRIRSCO, GKZ and OERN to collaborate in the development of a Russian Code which would compatible with the CRIRSCO Template.
Click here to view Press Release: Russia’s minerals industry took another step towards better access to global capital markets last month when it signed a protocol to bring its resource reporting systems in line with the CRIRSCO template recognised in most established capital markets.
Click here to view Protocol of Intentions between CRIRSCO, GKZ and OERN to collaborate in the development of a Russian Code which would be compatible with the CRIRSCO Template.
 Roger Dixon, Chairman of CRIRSCO, and
Yuri Podturkin, Director General of GKZ,
signing ceremony.
 Officials of CRIRSCO, GKZ and OERN
after the ceremony.
27/09/10 - Invitation to open sessions with GKZ and CRIRSCO in Moscow, September 27 and 28 2010
Click here to view the CRIRSCO Moscow Itinerary
Click here to view the CRIRSCO Open Session draft agenda
3/09/10 - Guidelines on Alignment of Russian minerals reporting standards and the CRIRSCO Template: final version subject to adoption at the CRIRSCO meeting in Moscow, September 2010.
Click here to view the Guidelines
26/07/10 - Letter to the International Accounting Standards Board regarding IASB Extractive Activities Research Project.
Click here to view the letter
8/07/10 - CESR Submission by CRIRSCO
Click here to view the submission
4/07/10 - CRIRSCO Quarterly Report
Click here to view the report
21/06/10 - The Discussion Paper for Extractive Activities
The IASB have requested comment on the Discussion Paper for Extractive Activities. Comments have to be in by July 30 2010. CRIRSCO will be submitting a formal reply based on National Reporting Organization (NRO) feedback.
16/03/10 - Guidelines on Alignment of Russian minerals reporting standards and the CRIRSCO Template
Guidelines on Alignment of Russian minerals reporting standards and the CRIRSCO Template (further referred to as “Guidelines”) have been prepared by the Working Group of experts incorporating leading professional researchers of FGU “GKZ”, CRIRSCO, mining and other companies and Russian and international universities.
The Guidelines were considered at the CRIRSCO annual meeting in Beijing on 25 October, 2009 and approved as a consultation draft for comments by Russian and international stakeholders (both individuals and corporate bodies).
Already taken into consideration in the draft Guidelines are general provisions of the Protocol of Intentions signed by CRIRSCO and GKZ in Moscow on 22 October, 2008, recommendations by Russian and international experts, as well as opinions expressed at the CRIRSCO annual meeting discussions in Beijing on 25 October, 2009 and consultation within Russia and in the member organisations of CRIRSCO.
The draft Guidelines are now published, with a deadline for consultation submissions of 31 May, 2010. Publication of a final version is provisionally planned for 31 July, 2010.
Click here to view, PDF.
Consultation submissions to be sent to crirsco-gkz@vmine.net
19/01/10 - United Nations Framework Classification for Fossil Energy and Mineral Reserves and Resources 2009 discussed at Seventh session of the Economic Commission for Europe.
Seventh session; Geneva, 29-30 October 2009. Item 3 of the provisional agenda: Committee on Sustainable Energy. Ad Hoc Group of Experts on Harmonization of Fossil Energy and Mineral Resources Terminology. PDF
Click here to view links to documents, presentations and other sessions.
14/01/10 - Jean - Michel Rendu (JM) recently retired from active service with the SME and his position on CRIRSCO.
Ian Douglas took up Jean - Michel Rendu’s responsibilities with both the SME and CRIRSCO. JM’s enormous contribution to mineral resource and reserve reporting was officially recognized at the 2009 CRIRSCO Annual Meeting in Beijing. Please see attached.
12/11/09 - MLR CRC CRIRSCO Seminar - Friday 23 October 2009, Beijing China.
On Friday 23 October the Consulting and Research Centre of the Ministry of Land and Resources PRC and CRIRSC conducted a joint seminar in Beijing on reporting codes and the guidelines, standards and codes supporting the Chinese Reporting Standard and the CRIRSCO Template. Approximately 100 people attended the seminar which was opened by Mr Jia Qihai, the Director General of the Department of Mineral Resources and Reserves of the Ministry of Land and Resources PRC and Mr Roger Dixon, Chairman CRIRSCO. The seminar increased mutual understanding of the Chinese and CRIRSCO systems and the supporting guidance for Competent Persons under both systems. Attendance by CRIRSCO Representatives at the seminar was financially supported by the ICMM.
A copy of the program and the CRIRSCO presentations are available here…
Summary of Meeting is available here, PDF.
31/05/09 - Niall Weatherstone; Retiring Chairperson by Roger Dixon on behalf of the CRIRSCO Committee
June is rapidly approaching and Niall is dusting off his walking shoes and preparing to get to know his family again. It is therefore fitting that we should recognize the enormous contribution that Niall has made over many years to the world of Mineral Resource and Reserve Reporting. He was instrumental in the resurgence of CRIRSCO and served as the co-chair with Pat Stephenson. His guidance, leadership and tenacity during the last two years of his tenure as chairperson have enabled CRIRSCO to become the recognized representative of the Minerals Industry with regards to reporting of reserves and resources. Niall has led the charge on several important fronts where CRIRSCO has achieved remarkable success. Click here to read more.
28/04/09 - Progress on the revision of the Chinese Mineral Resources and Mineral Reserves Reporting Standard by Peter Stoker
The current (1999) Chinese classification standard is discussed along with progress of a review undertaken on the basis that, although largely satisfactory, the current system is not regarded as particularly suitable for reporting in a market economy. An outline of the proposed revised system is presented, along with a brief discussion on the relationship of the Chinese classification system to the CRIRSCO Template. Click here to view.
28/04/09 - Report on CRIRSCO Meeting held in Santiago, Chile, November 2008
CRIRSCO held its annual meeting in Santiago from the 24th to the 27th of November 2009, hosted by Chilean members and SONOMI (National Mining Society of Chile). All current members of CRIRSCO attended, an additional Chilean representative Hernán Soza was also present. Click here to view the report.
9/03/09 - Discussion Papers - UNFC 2009
Discussion Paper: UNFC, User Manuals, and Working Groups
Three working groups have been established to examine the needs of users of information generated by the United Nations Framework Classification (UNFC) and associated systems such as the Petroleum Resources Management System (PRMS). This note attempts to provide a basis for discussion of these needs, and how they can be fulfilled, with some additional discussion of financial reporting needs.
Discussion Paper on Specifications and Guidelines for the UNFC for Fossil Energy and Mineral Resources. The purpose of this paper is to discuss the requirements of stakeholders for secondary rules under the UNFC, here called the UNFC Specifications. The paper has been prepared at the request of the UNECE Ad Hoc Group of Experts on Harmonization of Fossil Energy and Mineral Resources Terminology (AHGE) by members of its Revision Task Force (RTF).
9/03/09 - The draft revision of the 2004 United Nations Framework Classification of Fossil Energy and Mineral Resources
The UNFC Revision Task Force has finalised the text of the draft revision of the 2004 United Nations Framework Classification of Fossil Energy and Mineral Resources (UNFC) and the accompanying draft Explanatory Note. Both documents are available for public comment on the UNECE website at: http://www.unece.org/energy/unfc/Welcome.html
27/01/09 - CRIRSCO welcomes two new members
CRIRSCO has two new Committee members following recent proposals by the National Reporting organisations of UK and Western Europe, and Chile. The Pan European Reporting Committee has nominated Grigoriy Malukhin, a member of the Russian State Commission on Reserves and also a Russian representative on the European Federation of Geologists as a member for Western Europe, while Chile has nominated Hernan Soza G. as its second representative, joining Edmundo Tulcanaza on the Committee.
CRIRSCO is delighted to welcome Grigoriy and Hernan who bring with them extensive experience in resource and reserve matters together with local knowledge of their constituencies that will be invaluable as CRIRSCO continues its work to integrate international resource and reserve reporting systems.
20/01/09 - Edmundo Tulcanaza is awarded the 2008 Alexander Sutolov Prize
CRIRSCO member Edmundo Tulcanaza has been awarded the “Alexander Sutolov 2008 Prize” by the Chilean Ministry of Mining. This prize is given to Chilean, or foreign individuals or companies based in Chile, that develop scientific and/or technological research in the country, in geology, mining or metallurgy. Click here to read more.
6/11/08 - Translation of the CRIRSCO International reporting into Chinese
A Chinese version of the International Reporting Template has been created to promote discussions which are expected to take place before the end of the year with Chinese Government representatives on the similarities and differences between CRIRSCO style reporting standards and the current Chinese system. A copy can be found in the Library.
28/10/08
CRIRSCO reaches agreement with Russian State Commission on Mineral Reserves. An agreement was signed on 22nd October by Yuri Podturkin, Chairman of the Russian State Commission on Mineral reserves and Niall Weatherstone, Chairman of CRIRSCO that provides for future mutual cooperation in developing their respective mineral classification and reporting systems.
15/09/08
Niall Weatherstone, in his capacity as Chairman of CRIRSCO, presented a keynote address to the 21st World Mining Congress in Krakow, Poland on 8th September. The subject of his talk was 'Standards for Reporting of Mineral Resources and Reserves - Status, Outlook and Important Issues'. The Congress attracted some 600 participants and the talk was well received by those present, the majority of whom were from Europe, Russia, India and China; all countries that are interested in the development of internationally compatible forms of reporting. A copy of Niall's paper is available in the CRIRSCO Library.
17/03/08:
CRIRSCO's response to the SEC's Concept Release on Possible Revisions to the Disclosure Requirements Relating to Oil and Gas Reservess CRIRSCO's submission to the SEC Concept Release on oil and gas reporting (February 2008). Click here to view, PDF.
22/01/08: Inaugural Full Meeting of CRIRSCO, London, October 2007
Click here to view the Inaugural Full Meeting of CRIRSCO summary minutes, London, October 2007. PDF.
22/01/08: Awards to CRIRSCO Members
CRIRSCO is delighted that several of its members have been rewarded for their efforts in promoting the international importance of Mineral Resource and Mineral Reserve Reporting. In the Australasian Institute of Mining and Metallurgy (AusIMM) awards for 2007, Ian Goddard received an Honorary Fellowship and Peter Stoker received an Institute Service Award for their tireless work in this area through JORC and CRIRSCO..
The European Federation of Geologists has awarded John Clifford its Medal of Merit for his work on resource - reserve reporting issues and in promoting the EurGeol title.
Congratulations to Ian, Peter and John
11/07/07: CRIRSCO Executive 2007
Elections have been held for positions on the CRIRSCO Executive. The formation of the Executive is designed to facilitate the operation of CRIRSCO with the executive considering matters for recommendation to the full committee.
Niall Weatherstone has been elected Chair of CRIRSCO, Roger Dixon Deputy Chair for a two-year term, while John Clifford has been elected second Deputy Chair for a one-year term.
14/06/07:
In his capacity as Chairman of CRIRSCO, Niall Weatherstone recently gave a keynote address at the Reserve Estimation and Reporting Africa '07 Conference in Johannesburg (23-24 May 2007) where he outlined the current status of international resource and reserve reporting and his views on likely future developments. The full text of his paper can be found in the Library section.
27/3/07:
At a meeting in Tokyo in January 2007, the Executive Working group of the International Council on Mining and Metals (ICMM) endorsed a proposal from CRIRSCO to become a Task Force of the ICMM for a trial period of two years. This decision is expected to be ratified by the ICMM Council in May.
The association with ICMM brings CRIRSCO financial and organisational support that it has lacked in recent years. ICMM members will part fund CRIRSCO’s annual budget and can provide administrative, secretarial and treasury support. Above all, the ICMM offers an unparalleled influence on mining industry matters as its Council comprises 15 of the world’s major mining and metal producing companies represented at CEO level. In addition the list of 24 Association Members, including organisations such as the Mining Association of Canada and the World Gold Council, adds extra weight to issues addressed by the ICMM.
CRIRSCO brings support for ICMM in terms of promoting uniform and transparent reporting and best practice resource and reserve estimation. In the longer term, there are opportunities for CRIRSCO to influence the ICMM by incorporating many of its ideals into the sustainable development framework that the ICMM promotes and to bring closer focus on the third, economic, strand of sustainable development.
Niall Weatherstone, Chairman 27 March 2007
21/12/06: Retirement of Pat Stephenson and Gordon Riddler
At the end of November Pat Stephenson retired as Co-Chairman of CRIRSCO after a long and distinguished contribution to the global reserves reporting arena, largely through JORC and latterly through CRIRSCO. Pat is a leading industry figure in this area and his conference appearances and papers written over the years have contributed hugely to the increased awareness of the importance of resource and reserve issues. Pat will be sorely missed but we have been extremely lucky to have Ian Goddard nominated as his replacement by JORC.
Also at the end of November, Gordon Riddler decided to hang up his boots, retire to Scotland and spend more time with his family. Gordon is a founder member of CRIRSCO and was involved from its earliest days of Sun City and Denver. Often single-handedly, Gordon led the efforts to establish appropriate reporting procedures in the UK and was instrumental in developing the Reporting Code in 2001 as well as the agreement reached in 1999 for the UNECE to adopt standard resource and reserve definitions. Gordon's efforts have been rewarded with the newly constituted Pan European Reserves Committee (PERC) which brings in wide ranging representation from UK, Ireland and Western Europe. A replacement for Gordon on CRIRSCO will be announce by PERC shortly.
Niall Weatherstone 21 December 2006
CRIRSCO activity reports
The following links relate to the assistance that CRIRSCO is providing to the International Accounting Standards Board (IASB) in the development of its proposed new International Accounting Standard for the Extractive Industries:
Project summary:
http://www.iasb.org/current/iasb.asp?showPageContent=no&
xml=16_309_67_24052006.htm
April 2005 ed session:
http://www.iasb.org/meetings/0504.asp
July 2005 ed session:
http://www.iasb.org/meetings/july2005.asp
The following link provides information on the SPE's review of its resources and reserves classification and reporting system:
http://www.spe.org/spe/jsp/basic/0,,1104_4662017_4674812,00.html
|
