The Canadian Securities Administrators (CSA) have updated the list of approved “acceptable foreign associations” in National Instrument 43-101 Standards of Disclosure for Mineral Projects (NI 43-101) to reflect three additional professional associations and membership designations. As well, the CSA has also amended the list of acceptable foreign resource reporting codes to include one additional code.
From February 25, 2016, acceptable foreign associations now includes the Russian Society of Subsoil Use Experts (OERN) for persons holding the designation of Expert and also includes members of Engineers Australia and Engineers New Zealand holding the designation of Chartered Professional Engineer (CPEng). These latter persons had previously been identified in CSA Staff Notice 43-308 (Revised) Professional Associations under NI 43-101 Standards of Disclosure for Mineral Projects, as meeting the requisite test. The full list of professional organizations is now included in Appendix A to Companion Policy 43-101 Standards of Disclosure for Mineral Projects (43-101CP).
The CSA is also now including the Russian Code for the Public Reporting of Exploration Results, Mineral Resources and Mineral Reserves (NAEN Code) as an “acceptable foreign code” for NI 43-101 purposes. This now adds the NAEN code to the JORC Code, the PERC Code, the SAMREC Code, SEC Industry Guide 7 and the Certification Code as specifically permitted foreign codes under NI 43-101.
The changes described above came into effect on February 25, 2016. For further information, please see CSA Notice of Changes to Companion Policy 43-101CP Standards of Disclosure for Mineral Projects.