Mining’s old guard needs strong medicine
A new report details subpar investor returns in the mining industry over the last decade, particularly big cap diversified companies which have not adapted to new realities.
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Russia has today taken an important step towards integrating its mining capital structure with the major international markets by joining CRIRSCO, the international committee which co-ordinates public reporting standards for exploration results, mineral resources, and mineral reserves. The Russian national code (the NAEN Code) has been developed by the Society of Experts on Mineral Resources (OERN, a component body of NAEN), in close co-operation with the State Commission on Reserves (GKZ) and with members of CRIRSCO. The NAEN Code is modelled very closely upon the CRIRSCO Public Reporting Template and is issued as a bilingual document in Russian and English. This reporting standard is intended for use principally by Russian companies for independent estimation of their mineral assets, and listing on stock exchanges nationally as well as internationally. Its compatibility with other CRIRSCO-aligned reporting standards will encourage rapid acceptance of the Code around the world. (more…)
