CRIRSCO held its Annual Meeting in Beijing, China, on Saturday 24 October and Sunday 25 October,
2009. All current members of the Committee attended. The Chairman (Roger Dixon) welcomed new
members Grigoriy Malukhin (PERC) and Ian Douglas (SME) and acknowledged the retirement of John
Clifford (PERC) and Jean-Michel Rendu (SME) after long and valued service.

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Agenda Items for October Meeting of UNECE Committee on Sustainable Energy

• ECE.ENERGY.GE.3.2009.7_e
• ECE.ENERGY.GE.3.2009.L.5_draft
  

The United Nations Framework Classification (UNFC-2009) applies to fossil energy and mineral reserves and resources located on or below the Earth’s surface. It serves the needs for classification at a global level (for energy and mineral supply studies), for governments (resources management and policy formulation), for industry (business process management) and for financial reporting....
Please download full document for comment here.

For the attention of the Ad Hoc Group of Experts on the Harmonization of Fossil Energy and Mineral Resources Terminology

Dear Colleagues

I am pleased to advise that the UNFC Revision Task Force has finalized the text of the draft revision of the 2004 United Nations Framework Classification of Fossil Energy and Mineral Resources (UNFC) and the accompanying draft Explanatory Note.

Both documents are available from today (5 December) for public comment on the UNECE website at:  http://www.unece.org/energy/unfc/Welcome.html

Each and every member of the Group of Experts is encouraged to seek input from their constituencies in carefully reviewing and commenting on both documents. Comments can be submitted via the online form on the UNECE website, via e-mail to: This e-mail address is being protected from spam bots, you need JavaScript enabled to view it or in paper copy to me.  Full details are available on the website.

Please kindly note that the deadline for submission of comments is close of business on 6 February 2009.

We look forward to receiving your comments.

Kind regards

Charlotte Griffiths

Roger Dixon and Ferdi Camisani represented SAMCODES and South Africa.

1. CURRENT ISSUES AND DEVELOPMENTS

• Each NRO (National Reporting Organisation) gave an update on issues and developments in their jurisdiction.
• Handling of complaints and disciplinary processes is different amongst members. Recognized as an issue which requires discussion especially with regards to granting of reciprocity.
• Pan European Reporting Code PERC was discussed and is due for publication early 2009. The problem is the recognition by the regulatory authorities. UKLA and AIM.
• The USA situation is still problematic with the SEC still not recognizing the work of the SME. They have however made some changes for the oil and gas industry which is encouraging.

• The USA delegates were tasked with drawing up a strategy for engaging with the SEC on several fronts.

• A protocol of intentions has been signed with the Russian Federation and a mapping exercise will follow.
• There has been engagement with the Chinese, handled by JORC.
• Similarly support has been given to Mongolia by CRIRSCO members.
• Indonesia is developing a code similar to the CRIRSCO template.
• Translation of the CRIRSCO template into other languages other than English will be undertaken.

• The need to upgrade the appearance was recognized.
• The definitions published as the Denver Accord are seen as the core of the template and there has been movement away from the definitions by some members.
• It was agreed that CRIRSCO would relook at protocols for changes to definitions. Agreed that CRIRSCO should get back to the definitions as the core. This is particularly important when dealing with external bodies.

• The revised UNFC will be presented in Geneva at the March meeting.
• The revision and supporting documents is heavily biased towards the oil and gas industry.
• CRIRSCO along with the SPE is resisting the drafting of additional specifications for the UNFC. Detailed specifications should reside in the CRIRSCO template.

• It was noted that the research initiative looking at valuation of Mineral Reserves for financial reporting is proceeding slowly. CRIRSCO is maintaining a close relationship with the industry working group.

• ROPOs and the application of disciplinary procedures.
• Inferred Resource definition
• Block model inventory with no cut-off
• Mineral Resources beyond Inferred – not a great deal of support.
• Exploration Targets – adequately covered in SAMREC and JORC.
• Levels of study included in Codes. SAMREC and CIM have pre-feasibility and feasibility.

• Terms of reference to be reviewed
• Relationship with ICMM to be defined more clearly
• ICMM budget for CRIRSCO in 2009 cut from 75k to 70k UK pounds
• PERC representation maybe increased to cater for large number of countries.
• Noted that Russia now has a member on CRIRSCO through the EFG
• CRIRSCO actively pursuing new members aligned with the template.
• Succession planning required in CRIRSCO
• Roger Dixon will take over chair of CRIRSCO in mid 2009.

• CRIRSCO participated in the launch of the Chilean Comisión Minera. There were about 200 people in attendance. All CRIRSCO members including South Africa gave a presentation on reporting standards in their jurisdictions.  Representatives from the ASX and TSX also made presentations.

• Alternative funding is not actively being sought. Assistance is provided by clients and employers.
• A workshop was mooted to coincide with next year’s meeting. Venue has not been decided but Washington and Beijing are possibilities.
• Website management and branding of CRIRSCO will be reviewed
• Decision making process via e-mail was reviewed.

The new Pan European Reserves Committee (PERC) Code exposure draft has recently been launched in London. Members are invited to make comment on the Code prior to its proposed adoption in October.
Please click here to register before making comments.
Download the draft version. (MS Word, 304KB)