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CRIRSCO

CRIRSCO. SSC SAMREC/SAMVAL COMMITTEE 24 November 2008 SANTIAGO CHILE. SSC 2008 . Breakfast Launch APRIL 2008 SAMREC 2007 SAMVAL 250 attendees JSE Listing requirements issued Website and branding Oil and gas working group reconstituted Vice chair emigrating

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CRIRSCO

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  1. CRIRSCO SSCSAMREC/SAMVAL COMMITTEE 24 November 2008 SANTIAGO CHILE

  2. SSC 2008 • Breakfast Launch APRIL 2008 SAMREC 2007 SAMVAL 250 attendees • JSE Listing requirements issued • Website and branding • Oil and gas working group reconstituted • Vice chair emigrating • Public criticism of SSC

  3. SAMVAL CODE THE SOUTH AFRICAN CODE FOR THE REPORTING OF MINERAL ASSET VALUATION • Mineral Asset - Any right to explore or mine (or both) that has been granted or entity holding such property or the securities of such an entity. • Published April 2008 The Code sets out a required minimum standard for the Public Reporting of Mineral Asset Valuation. Common definitions with SAMREC Code Competent Valuator

  4. SAMREC AND SAMVAL CODES

  5. RECIPROCITY • Given by the JSE via SSC Requirements • Enforceable code of ethics • Disciplinary Procedure • Confirmed annually

  6. RECIPROCITY AusIMM Australasian Institute of Mining and Metallurgy IGI Institute of Geologists of Ireland AIG Australian Institute of Geoscientists IMMM Institute Materials, Minerals and Mining EFG European Federation of Geologists CCPG Canadian Council of Professional Geoscientists Geological Society London SME Society of Mining, Metallurgy and Exploration MMSA Mining and Metallurgical Society of America

  7. Compliance Monitoring • Codes incorporated into JSE Listing Requirements • Strong links with JSE • Readers Panel, experts in their field • Remunerated by JSE Prevention better than cure!

  8. Training and education • Appropriate conferences • Website • Working Groups • Competent person courses Definite need identified

  9. Disciplinary Procedure • SSC has disciplinary procedure for CPs and CVs • Complaints in writing • Referred to professional body for discipline • SAIMM and GSSA resolutions – members to comply with codes Prevention is better than cure

  10. Best Practice • On SSC agenda • Better done at CRIRSCO level?

  11. WEBSITE ALL SLIDES WWW.SAMCODE.CO.ZA

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