CRIRSCO SSC SAMREC/SAMVAL COMMITTEE 24 NOVEMBER 2008 SANTIAGO CHILE.

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Presentation transcript:

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 PUBLIC CRITICISM OF SSC

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

SAMREC AND SAMVAL CODES

RECIPROCITY Given by the JSE via SSC REQUIREMENTS Enforceable code of ethics Disciplinary Procedure Confirmed annually

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 RECIPROCITY

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!

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

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

Best Practice On SSC agenda Better done at CRIRSCO level?

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