news / Current Issues
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
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