International resource and reserve reporting

"By now, most geologists and engineers in the Canadian mining industry are familiar with National Instrument 43101 Standards of Disclosure for Mineral Projects (NI 43-101) and the Canadian Institute of Mining, Metallurgy and Petroleum (CIM) Definition Standards for Mineral Resources and Mineral Reserves, which are incorporated by reference in NI 43-101. In recent years, significant progress has also been made in establishing standard reporting practices internationally that recognize the globalization of the industry and enable investors to compare projects anywhere in the world and make informed investment decisions. This article is part of a series that will summarize the background and development of international resource and reserve reporting standards by the Committee for Mineral Reserves International Reporting Standards (CRIRSCO), highlight its current activities and provide insight into international mineral reserve and resource reporting issues. CRIRSCO was formerly the Mineral Definitions Working Group of the Council of Mining and Metallurgical Institutions (CMMI), an organization representing professional bodies in all of the major mining and mining investment countries. In 2002, CMMI disbanded and CRIRSCO continued as a volunteer committee with limited funding from those professional bodies and increasingly from other sources, such as mining companies and regulatory bodies. CRIRSCO was adopted as a Task Force of the International Council of Mining and Metals (ICMM) in 2007. The ICMM is an influential industry body representing all of the major mining companies and many junior companies through its associated members, such as the Minerals Council of Australia, the Chamber of Mines of South Africa and the Prospectors and Developers Association of Canada. CRIRSCO now has funding to pursue its objectives."