CIMVal 2003 (Canada) - CIM Standards and Guidelines for Valuation of Mineral Properties (2003)



There are at present no comprehensive standards for valuation of Mineral Properties in the Canadian mining industry. The Mining Standards Task Force (MSTF) of the Toronto Stock Exchange and the Ontario Securities Commission in its Final Report (January 1999) specifically recommended that the Canadian Institute of Mining, Metallurgy and Petroleum (CIM) form a committee of valuation practitioners to review and advise on approaches to valuation of Mineral Properties. On May 5, 1999 at the Calgary Annual General Meeting, CIM Council approved the formation of a Special Committee on Valuation of Mineral Properties (CIMVal) to be co-chaired by Keith Spence (Chairman of the CIM Mineral Economics Society) and Dr. William Roscoe (Roscoe Postle Associates Inc.). 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 members of CIMVal represent of a mix of professional disciplines and experience in the field of Mineral Property valuation.
Keywords: standards, mineral property, evaluation, valuation, CIMVal