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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?
WEBSITE
ALL SLIDES
WWW.SAMCODE.CO.ZA