The Canadian Institute of Mining, Metallurgy and Petroleum (CIM) has adopted best-practice guidelines for the estimation of mineral resources and mineral reserves, as recommended in a report released in the spring.
Titled Estimation of Mineral Resources and Mineral Reserves Best Practice Guidelines, the report is available on the CIM web site at www.cim.org/committees/estimation2003.pdf
The idea for the guidelines originated in a report by the Mining Standards Task Force, which states: “We recommend that in all public disclosure relating to resources or reserves, a company be required to state that it is reporting in accordance with the CIM guidelines for the estimation, classification and reporting of resources and reserves, or another recognized reporting system.”
The guidelines are intended to assist a “qualified person” in the planning, supervision, preparation and reporting of mineral resource and mineral reserve estimates. All estimation work reported to the public must be designed and carried out under the direction of a qualified individual and in accordance with National Instrument 43-101.
The report is divided into two broad sections: general guidelines applicable to metalliferous deposits, and guidelines specific to particular commodities. Specific guidelines for potash, industrial minerals, coal and uranium are available now, and guidelines for mineable oil sands, lateritic minerals, diamonds and alluvial minerals are expected to be established in 2004.
The best-practices guidelines were subject to extensive consultation.
“The report is the culmination of almost two years’ work and includes input from more than fifty technical experts and practitioners from Canada and abroad,” says consultant Neil Gow, who chaired the committee that developed the guidelines.
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