A Chinese mining sector delegation has gained insight from SRK Consulting (SA), that focus on a range of factors affecting mineral resource and mineral reserve reporting and valuation.
In a knowledge-sharing day at the Wanderers Club in Johannesburg, SRK specialists contributed their extensive experience in conceptualising and quantifying the ‘modifying factors’ that must be considered when converting mineral resources to mineral reserves.
The 20-member delegation comes to South Africa as China works towards becoming the 14th member of the Committee for Mineral Reserves International Reporting Standards (CRIRSCO).
CRIRSCO provides common standards for reporting of exploration results, mineral resources and mineral reserves – giving investors and other stakeholders greater confidence in the value of mineral assets and the viability of mining projects.
“In a series of presentations, SRK experts covered a range of disciplines including exploration, environmental management, social impact, geotechnical engineering, mine planning, mineral processing, tailings, water management, mine closure and mineral asset valuation,” notes Marcin Wertz, SRK partner and principal mining engineer.
In addition the Samcodes Standards Committee (SSC) programme has given the Chinese delegation broad exposure to South African mineral reporting standards and its mining sector more generally – engaging with stakeholders such as mining companies, consultancies, the Minerals Council South Africa, the Council for Geoscience, the Department of Mineral Resources and the Johannesburg Securities Exchange.
‘The visit would foster ongoing communication between key South African and Chinese mineral code custodians, including the patrons of the Samcodes – the Southern African Institute of Mining and Metallurgy and the Geological Society of South Africa,” concludes SSC chairperson, Matt Mullins.