The Pan-European Reserves & Resources Reporting Committee (PERC) is ready to publish a draft update to the PERC Code, for consultation – with a view to producing a new version some time this summer. There are a number of proposed changes that have been made to the 2008/9 version, falling into two main categories: (a) harmonisation with evolving CRIRSCO standards, and in particular the internationally agreed standard core definitions which, already very similar, will become identical across all CRIRSCO-aligned codes; (b) new sections to deal with different mineral commodity types not specifically mentioned in previous versions of the code – or in other CRIRSCO codes. See for more details and links for downloads.
There are a number of updates and modifications which have been included in a new draft version of the PERC Code (proposed to be renamed the PERC Reporting Standard). A consultation on these changes is now open, and comments and suggestions are invited. In particular, there are a number of questions on the principal changes which we would like to focus on. The new draft code and the consultation questions can be downloaded from http://www.perc.co/PERC2012draft.pdf and http://www.perc.co/PERC2012consultation.pdf
The consultation will close at the end of June 2012, and all submissions should be sent by email in Microsoft Word .DOC or .DOCX, or PDF attachments by 17:00 British Summer Time on 30 June 2012, to [email protected]. For any enquiries about this consultation, or to let us know of any problems in sending your comments, you may email the above address, or alternatively [email protected]
PERC is the European equivalent of the Australasian JORC in Australasia, SAMREC in South Africa, and similar reserves reporting standards bodies in the USA, Canada, and Chile, and with them is a constituent member of the Committee for Mineral Reserves International Reporting Standards (CRIRSCO – www.crirsco.com). Representation on PERC covers major and junior mining sectors, industrial minerals, aggregates, coal, the investment and financial community and the professional accreditation organisations including the Institute of Materials, Minerals, and Mining (IOM3), the European Federation of Geologists, the Geological Society of London, and the Institute of Geologists of Ireland.
The PERC reporting standard is recognised by ESMA (the European Securities and Markets Authority), together with other CRIRSCO-aligned standards, for use in reporting mineral reserves, mineral resources, and exploration results on markets within the European Union, and is also accepted for reporting on stock exchanges in Canada. Because of the close similarity of all the CRIRSCO-aligned reporting standards, including the same classification system and the same set of standard definitions, it is also very simple to translate reports from one standard to another.