SEC Proposed New Rules Regarding Property Disclosures for Mining Registrants.

Posted by Alexa Fox on June 16, 2016

The SEC recently proposed new rules regarding property disclosures SEC-logo-mining-rules-accounting-SOX-COSO-1.jpg for mining registrants. Take a look at the details of the rules below:


  • Provide one standard requiring registrants to disclose mining operations that are material to the company’s business or financial condition
  • Require a registrant to disclose mineral resources and material exploration results in addition to its mineral reserves
  • Permit disclosure of mineral reserves to be based on a preliminary feasibility study or a final feasibility study
  • Provide updated definitions of mineral reserves and mineral resources
  • Require, in tabular format, summary disclosure for a registrant’s mining operations as a whole as well as more detailed disclosure for material individual properties
  • Require that every disclosure of mineral resources, mineral reserves and material exploration results reported in a registrant’s filed registration statements and reports be based on, and accurately reflect information and supporting documentation prepared by, a “qualified person”
  • Require a registrant to obtain a technical report summary from the qualified person, which identifies and summarizes for each material property the information reviewed and conclusions reached by the qualified person about the registrant’s exploration results, mineral resources or mineral reserves


To see the full article by the SEC, click here.

Tags: SEC approval, rules, COSO, SEC, accounting, purposed rulings, mining, mining registrants