The SAIMM is a professional institute with local and international links aimed at assisting members source information about technological developments in the mining, metallurgical and related sectors.
twitter1 facebook1 linkedin logo
 

News

minexSAMCODES Standards Committee (SSC) Chair Matt Mullins attended the Minex Central Asia Forum which took place in Astana, Kazakhstan. On Wednesday 18th April 2018 he delivered a presentation on Global Mineral Resource and Valuation Reporting Standards.

With Kazakhstan being the newest member of the Committee for Mineral Reserves International Reporting Standards (CRIRSCO), Matt discussed the Evolution, Convergence, and Effectiveness of reporting codes both in South Africa and globally. There was particular focus on the current organisation and effectiveness of the SSC.

SAMCODES comprises the Minerals Reporting Code (SAMREC), the Mineral Valuation Code (SAMVAL) and the Oil and Gas Reporting Code, and these, together with the SSC relationship with the Johannesburg Securities Exchange, were critically described.

As SSC Chair, Matt oversees this broad-based industry committee, which is tasked to develop, maintain, administer, ensure compliance with and promote the South African Codes.

To further strengthen the Kazakhstan reporting codes and their relationship with the South African and international versions, Matt will be meeting with key representatives from CRIRSCO, the Kazakhstan Reporting Code (KAZRC) Association, the Kazakhstan Stock Exchange (KASE), and the South African Ambassador to Kazakhstan.

Click here to see Matt’s speaker profile

Click here to see the presentation

Update from Matt:

The meeting with the South African Ambassador to Kazakhstan, Keitumetsi Seipelo Thandeka Matthews, went extremely well. Although the weather has been particularly bad of late, I was warmly received at the SA Embassy, located at the Kaskad Business Centre in Astana – Kazakhstan’s capital. The Ambassador and her counsellor, Mr Theo Malherbe, showed a keen interest in my SAMCODES presentation and understood the need to change perceptions about SA Mining.

At the same time, there is also a need to broaden SA knowledge and perceptions about Kazakhstan. The Central Asian nation is an economic force – with only 18 million people, it attracts 70% of the FDI in the region. This has lead to the formation of a national company, Kazakh Invest, which is tasked to be the sole negotiator between government and International businesses. The company already has 145 projects, totalling $45.7billion capital investment, many of which are in Minerals and Oil & Gas.

Kazakhstani citizens are favoured in business dealings and there is a real thirst to learn English (an SA exchange has been mooted), which runs parallel to the desire for the country’s economic activities to attract a more global audience.

It was recommended that I attend the World Mining Congress, also to take place in Astana in June, as a way to gather further momentum. I am truly grateful to the Ambassador for offering her assistance going forward.  

SAIMM Advert button072017inner

SAIMM on twitter

Other mining news

Mining Weekly | Africa

The latest mining world news and project information from Africa.
  • Gold fades as world gets used to bad news, Perth Mint says
    Investors have grown immune to the economic and geopolitical risks that typically drive haven demand for gold. That’s how Richard Hayes, the chief executive officer of Australia’s Perth Mint, summed up the reason behind bullion’s slump to a 19-month low despite tensions between the US and China and the collapse of the Turkish lira that roiled markets. The World Gold Council said this month that demand for the metal in the first half of the year was the weakest in almost a decade.
  • BlueRock secures loan from chairperson, CEO
    Aim-listed BlueRock Diamonds, which owns and operates the Kareevlei mine, in the Kimberley region of South Africa, has entered into a loan with chairperson Paul Beck and CEO Adam Waugh.  
  • Semafo reports two more deaths in restive Burkina Faso
    TSX-listed West Africa-focused gold exploration and production company Semafo on Friday reported that a bus transporting employees from the town of Bobo-Dioulasso to the Mana mine, in Burkina Faso, had been shot at by armed bandits on Friday morning. One Semafo national employee and one subcontractor lost their lives in the exchange of fire between police officers and the bandits.