Page: Mining Industry Standards - How Bre-X Changed the International Reporting Standards for Mineral Resources

My Due Diligence
   Understanding the Stock Market
   Dow to Gold Ratio
   S&P 500 PE Ratio
   January Effect
   My Stock Market Analysis
   How to Invest in Shares
   Analysts's Stock Ratings
   Country Risk Assessment
   Management Assessment
   Key Management Positions
   Management Compensation
   Management Evaluation
   Insider Stock Trading
   Insider Stock Ownership
   Company Ownership Search
   Insider Trading Rules
   Insider Trading Canada
   Insider Trading USA
   Personal Stock Holdings
   Monitor Your Portfolio
   Share Structure
   Employee Stock Options
   Flow-Through Shares
   Short Stock Positions
   Stock Warrants
   Oil and Gas Companies Analysis
   Oil and Gas Exploration Companies
   Investing in Oil and Gas Companies
   Oil and Gas Flow Rates
   Fracking Definition
   Resources and Reserves Definitions
   Mining Companies Analysis
   Mining Industry Standards
   CIM Definition Standards
   Mineral Resource Stocks
   Gold Mining Shares
   Mineral Exploration Companies
   Drilling Rigs
   Drilling Program
   Drilling Results
   Metal Equivalent Calculation
   Metal Recovery Rate
   Mining Costs
   Break Even Analysis
   Metal Value per Tonne
   Mineral Deposit Value
   Mine Life Cycle
   How Do I Invest in Stocks
   How Do I Buy Stocks
   Insider Ownership Analysis
   Country Risk Ranking System
   Stock Investment Analysis
   Institutional Ownership Assessment
   Management Compensation Analysis
   Management Compensation Comparison
   Management Compensation Evaluation
   Shorting a Stock
   Stock Options and Warrants
Support Me
Free Charts
   Base Metals Price Charts
   Energy Price Charts
   Fertilizer Price Charts
   Precious Metals Price Charts
   Stock Market Indices
ETF Finder
   Base Metals ETFs
   Copper ETFs
   Lead ETFs
   Nickel ETFs
   Tin ETFs
   Energy ETFs
   Coal ETFs
   Crude Oil ETFs
   Natural Gas ETFs
   Uranium ETFs
   Fertilizer ETFs
   Potash ETFs
   Minor Metals ETFs
   Rare Earth Metals ETFs
   Precious Metals ETFs
   Gold ETFs
   Palladium ETFs
   Platinum ETFs
   Silver ETFs

Mining Industry Standards - How Bre-X Changed the International Reporting Standards for Mineral Resources


In the mid-1990s, the biggest scandal of all time in the mining industry shook public confidence and negatively impacted the industry’s capacity to raise capital. Bre-X reported a mineral resource of 70,000,000 troy ounces of gold which was subsequently found to be a fraudulent claim. (Detailed information about the Bre-X scandal can be found on: http://en.wikipedia.org/wiki/Bre-X.) Suddenly there was an urgent need for determining specific international mining industry standards in order to minimize the risk of a future scandal.

In response, the Canadian Institute of Mining, Metallurgy and Petroleum (CIM) developed the CIM Definition Standards on mineral resources & mineral reserves by reference in National Instrument 43-101 (NI 43-101), so that all estimates of mineral resources and reserves that are publicly disclosed in Canada must use these CIM Definition Standards.

The Committee for Mineral Reserves International Reporting Standards (CRIRSCO) aims to promote high standards for international public reporting of exploration results like the NI 43-101 of Canada. The members are:

Members of The Committee for Mineral Reserves International Reporting Standards (CRIRSCO)

Country  Institute  International Reporting Standards 
Canada  Canadian Institute of Mining, Metallurgy and Petroleum  National Instrument 43-101 (NI 43-101) 
Australia  Joint Ore Reserves Committee  JORC 
United States  Society for Mining, Metallurgy and Exploration  SME 
South Africa  South Africa Mineral Resource Committee  SAMREC 
Chile  Institute of Mining Engineers of Chile  IMEC 
Western Europe  Pan-European Reserves Reporting Committee  PERC 
United Kingdom  Institute of Materials, Minerals & Mining  IMMM 

The most frequently used international reporting standard for mineral reserves is Canada's NI 43-101. The complete report: National Instrument 43-101: Standards of Disclosure for Mineral Projects can be found by clicking here.


If you would like to be the first to be informed when I add new content to UndervaluedEquity.com, please leave your details in the name grab form on the Support page! 

You can also support me directly by clicking on the advertisements that appeal to you, or by making a voluntarily donation with Paypal.

Your support helps me to speed up the process of adding great, free content to UndervaluedEquity.com!


What Type of Content Can You Expect to Find on UndervaluedEquity.com

Main Section  Description 
News (RSS)  Today's News Related to the Global Energy and Mining Stocks. On this page a RSS feed is displayed with stock market news related to the energy and mining sectors. You can subscribe to this free RSS feed too! 
My Due Diligence  How I Conduct My Stock's Due Diligence Investigation Process. If you want to know what I learned while I was conducting my due diligence, I recommend you to read all the chapters of the investigation process. 
My Stock Watchlist  Are These the Best Stocks to Buy Today. In my stock watchlist you find stocks who offer great potential, but at the time I analysed these stocks they didn't comply with all my guidelines from my due diligence chapters. 
My Stock Portfolio 

Are These the Best Shares to Buy Now. As the year 2015 has just started, I believe it's about time that I share my stock portfolio with you. Therefore, you will find my updated stock portfolio on this page.



comments powered by Disqus

Support Me
Free Charts
ETF Finder
Legal Terms