The minerals industry's inherent international scope has led to raising the requisite capital in various jurisdictions, independent of a mining company's management or operations base. While this creates various financing options, it can still be a challenge to raise the requisite capital given the requirement for large amounts of high-risk capital. As a consequence, the minerals industry must develop efficient means to attain this capital, the most important of which is providing investors willing to provide capital with transparent and comprehensive information. Achieving this requires internationally accepted reporting standards for mineral resources and mineral reserves using universally accepted definitions. Experts in the international mineral exploration and mining industries have been working diligently for decades towards this end. In fact, they have done exceptionally well relative to other industries in producing closely harmonized international standards in the world's top mining and mineral financing countries. The international standards provide minimum standards, recommendations, and guidelines for public reporting of exploration results, mineral resources, and mineral reserves in their respective jurisdictions (International Codes). Their reporting terminology sets out a classification system for the tonnage and grade estimates of mineral resources and mineral reserves. Public documents which include estimates of mineral resources and mineral reserves must be prepared by or under the direction of, and signed by, a Competent Person (i.e. Qualified Person) or persons, A Competent Person is essentially a regulated engineer or geoscientist who has a minimum of five years of relevant experience.
展开▼
