CIMVal & IMVAL: Standards & Guidelines for Resources and Reserves

International standards for the reporting of Mineral Resources, Mineral Reserves and Exploration Results have been developing at a rapid pace for the past 20 years due to the globalization of the mining industry.

Standards for the valuation of Mineral Properties have followed a similar course. This section of the MES website acts as an online “hub” providing access to the standards, guidelines and best practices for reporting and valuation in Canada and globally.

 

CIMVal

On May 5, 1999, CIM Council approved the formation of a Special Committee on Valuation of Mineral Properties (CIMVal). CIMVal was originally initiated and lead by CIM MES.

The mandate of CIMVal is to recommend Standards and Guidelines for Valuation of Mineral Properties to be used by the mining industry in general and to be adopted by Canadian securities regulators and Canadian stock exchanges.

The guiding philosophy and intent of the CIMVal Standards and Guidelines is that Mineral Property Valuations be carried out by appropriately qualified individuals and that all relevant information be fully disclosed.

For more information about CIMVal, click HERE

 

IMVAL

CIM MES is pleased to announce the completion of the IMVAL document on valuation of Real Property mineral assets (Mineral Property). It is called the IMVAL TEMPLATE!

IMVAL, which has developed this Template, is an international committee comprised of representatives of SAMVAL (South Africa), CIMVal (Canada), VALMIN (Australasia), the SME Valuation Standards Committee (USA), and IIMA (USA). Representatives of the Royal Institute of Chartered Surveyors (RICS, UK), were also involved in the early deliberations of IMVAL.

IMVAL was formed in 2012 by representatives of VALMIN, SAMVAL, CIMVal, SME, AIMA, and RICS (Australia, South Africa, Canada, US, UK) who recognized a need for harmonized international standards for valuation of mineral properties. Concepts, principles and definitions were taken from three existing mineral valuation codes or standards (VALMIN for Australasia, SAMVAL for South Africa, and CIMVal for Canada) and aligned with those of the International Valuation Standards to form the IMVAL Template. It is designed as a principles-based, high level document to guide and underpin national codes or standards. It is intended for it to have similar usage and stature as the CRIRSCO TEMPLATE for reserves and resources.

For more information about IMVAL, click HERE