The Committee for Mineral Reserves International Reporting Standards (CRIRSCO) was formed in 1994 as a volunteer-organization that promotes high standards in public reporting of mineral deposit estimates and exploration progress. This is vital for maintaining confidence in the accuracy of companies exploration results: the estimated mineral resources and reserves available prior to an operation starting.
ICMM has been working with CRIRSCO since 2010. During this time CRIRSCO has strengthened national reporting organisations (NROs) – the bodies that are responsible for developing national and regional mineral reporting codes and guidelines – around the world, through the development of the CRIRSCO Template. The full article follows, can be read on the ICMM website or you can download it here.
CRIRSCO is a grouping of representatives of organizations that are responsible for developing mineral reporting codes and guidelines in Australasia (JORC), Brazil (CBRR), Canada (CIM), Chile (National Committee), Colombia (CCRR), Europe (PERC), India (NACRI), Indonesia (KOMBERS | KCMI), Kazakhstan (KAZRC), Mongolia (MPIGM), Philippines (PMARC), Russia (OERN), South Africa (SAMREC), Turkey (UMREK) and the USA (SME).
The combined value of mining companies listed on the stock exchanges of these countries accounts for more than 80% of the listed capital of the mining industry. CRIRSCO is recognized as the international organization that represents the mining industry in matters relating to the standardization of codes for public statements, as a Strategic Partner of ICMM and also accredited by the United Nations Economic Commission for Europe (UNECE) and the International Accounting Standards Board (IASB), an organization that brings together stock exchanges around the world and dictates accounting rules, by international standards IFRS (International Financial porting Standards).
CRIRSCO is more a Governance System rather than a simple template or a family of members that stablished the International Template for Reporting of Exploration Results, Mineral Resources and Mineral Reserves. The CRIRSCO System is based in an integrated and self-regulated governance ensuring all levels are truly functional, divided in:
- Global Committee;
- National or Regional Organizations – representing a country or a group of countries;
- Professional Organizations; and
- Experienced mineral industry professionals – companies, regulatory agencies or governmental bodies, stock exchanges. Competent Person/ Qualified Professional
CRIRSCO Is organized and managed in line with principles of Transparency and Materiality in processes conducted by responsible Competent Persons, who are continuously monitored and provide statements of minerals resources and reserves to reliably inform.
Managed & Built by I2M Consulting, LLC | © 2010-
