Dear colleague,
I am writing to introduce myself as the current Chair of the Pan-European Reserves and Resources Reporting Committee (PERC) and to ask you to draw to the attention of your membership the forthcoming MIN WIN-WIN Conference, which will be held in Brussels on 20th and 21st November 2014 (click on the link for more details).
I am sure you will have heard of PERC through the excellent work of the European Federation of Geologists (EFG), one of our four founder members, and you are likely to have members who hold EurGeol or equivalent professional titles and are involved in the public reporting of solid mineral exploration results, reserves and resources.
Established in 2006, and registered ‘asbl’ in Brussels in 2013, the committee members are professional geoscientists, mining engineers and representatives from financial and regulatory institutions from across Europe (NOT ALL IN THE EU). Amongst many other activities PERC was tasked with developing a standard for the reporting of reserves and resources for solid minerals. The current version, PERC Standard 2013, can be downloaded from our website www.percstandard.eu. The PERC Standard was recognised by the European Securities and Markets Authority (ESMA) in 2012.
PERC represents Europe at an international level through membership of CRIRSCO – the Committee for Mineral Reserves International Reporting Standards. CRIRSCO is a growing and increasingly influential advisory body run by volunteers and funded by the ICMM that has established standard definitions and best practice world-wide. These standards provide the basis for laws and regulations relating to public reporting of exploration results, resources and reserves for solid minerals in all the major international stock exchanges, including those in Europe, which are regulated by ESMA.
A key feature of these standards (including the PERC Standard) is the need for public reports to be written by a Competent Person – in Europe, that means a person with relevant experience and expertise who holds the European Geologist title and/or CGeol (Geological Society of London), PGeo (Institute of Geologists of Ireland), MIMMM/FIMMM (Institute of Materials Minerals and Mining), or equivalent professional titles conferred by organisations elsewhere in the World. EurGeol and the other European professional qualifications offered by the parent organisations of PERC are recognised in all of the other CRIRSCO Codes and Standards and therefore in all stock exchanges where regulations are based on these standards.
It is a key aim of PERC to establish the PERC Standard as the reference standard for Europe and neighbouring countries, to promote the development and recognition of the Competent Person, and to provide and facilitate professional training of those who work as Competent Persons or aspire to do so.
It is important for these messages to reach every professional geoscientist working in the field of reporting reserves and resources of solid minerals, and so I am writing to support the EFG in promoting these aspects of knowledge and understanding among our professional community.
I would therefore encourage you to join me and my PERC colleagues at the (EFG) and (PERC) conference “MIN WIN‐WIN: ESTABLISHING EUROPE‐WIDE MINERALS RESOURCES AND RESERVES REPORTING STANDARDS – THE KEY TO REDUCING RISK AND INCREASING INVESTORS’ CONFIDENCE” that will be held on 20 and 21 November in Brussels.
With kind regards
Eddie Bailey
Chair PERC
