2. South African Representative, CRIRSCO
Because I believe it best demonstrates the synergies between the CRIRSCO Template and the UNFC 2009 and how the two together address the needs of all sectors working with mineral resources.
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The relationship between the Committee for Mineral Reserves International Reporting Standards (CRIRSCO) Template 2013 and the United Nations Framework Classification (UNFC for Resources)
South African Representative, CRIRSCO
Ankara, August

3. Presentation Agenda Objective and purpose; UNFC for Resources;
The Template;
Bridging documents;
Non–economic mineralisation;
NEA/IAEA Mapping

4. CRIRSCO - Principle Objective
To promote best practice in the international public reporting of Mineral Exploration Results, Mineral Resources and Mineral Reserves.
CRIRSCO is an international advisory body without legal authority, relying on its constituent members to ensure regulatory and disciplinary oversight at a national level.
It recognises the truly global nature of the minerals industry and the agreed need for international consensus on reporting standards.
To refresh you on the principle objective of CRIRSCO it is……

5. UNFC for Resources
Generic classification system applicable to Fossil Energy and Mineral Reserves, and Nuclear fuels;
Provides a single framework on which to build international energy and mineral studies;
Allows for non-economic mineralisation
Now applicable to renewable energy
Important tool for harmonized generic terminology at a level suitable for global communication

6. UNFC for Resources Framework classification not a reporting standard
No competency requirement
No Securities Exchange recognition

7. UNFC for Resources Applied directly or as harmonizing tool
Generic, Principle based
3 Axis
Economic and Social,
Feasibility,
Geological (G axis)
Numerical code
Applied directly or as harmonizing tool

8. UNFC for Resources Commercial Projects - green
Potentially commercial - yellow
Non commercial - Red
Exploration projects Blue
Additional quantities in place - Pale blue
Other combinations - white
Extracted quantities- purple

9. CRIRSCO Engagement
United Nations Economic Commission for Europe (UNECE) (1999)
Society of Petroleum Engineers (SPE) (2004)
International Accounting Standards Board (IASB)
International Atomic Energy Agency (IAEA)
Member of TAG and EGRC Bureau
CRIRSCO has ongoing relationships with UNECE and its UNFC founding member in 1999
SPE and the PRMS bridging documents
IASB who were at one stage wanting to have financial reporting standards for companies with mineral assets
Recently worked with IAEA who publish the RED BOOK which records the supply and demand of nuclear fuels principally Uranium and Thorium

10. General Relationship between Exploration Results, Mineral Resources and Mineral Reserves Figure 1 in the CRIRSCO Template
Fundamental framework of CRIRSCO Template and all the aligned codes
Two dimensional Geological , Economic and Feasibility horizontal

11. Re-Oriented Figure Showing the CRIRSCO Categories (Shaded) and Additional Categories in Other Systems
The Modifying Factors Economic and Feasibility
Reorientated to compare with other systems geological axis along the bottom and Economic and Feasibility in the vertical
CRIRSCO categories of Mineral Reserves Mineral resources and Exploration results are shaded
Range of Technical Uncertainty

12. Comparison of the Petroleum Resource Management System (PRMS) and the CRIRSCO Template
Petroleum (SPE/WPOC/AAPG/SPEE 2007)
Minerals (CRIRSCO 2013)
Marginal Contingent Resources
Using the previous slide we now compare The Template with PRMS
PRMS has Reserves Proved Probable and Possible equivalent to Mineral Reserves note that this is different to the Template
Contingent Resources equivalent to Mineral Resources
Sub marginal Contingent Resources which has no equivalent in the Template it is Discovered not economic. All these categories are discovered.
It then has Prospective resources which are undiscovered equivalent to exploration results
Sub-Marginal Contingent Resources
Range of Technical Uncertainty
Range of Technical Uncertainty

13. UNFC – CRIRSCO TEMPLATE

14. CRIRSCO Template - UNFC

15. Mineral Resource
A Mineral Resource is a concentration or occurrence of solid material of economic interest in or on the Earth’s crust in such form, grade or quality and quantity that there are reasonable prospects for eventual economic extraction.
The location, quantity, grade or quality, continuity and other geological characteristics of a Mineral Resource are known, estimated or interpreted from specific geological evidence and knowledge, including sampling.
So even at the stage of declaring a resource the Competent Person must make a preliminary assessment of the technical and economic factors to ascertain whether there are reasonable prospects for eventual economic extraction.

16. Non-economic Mineralisation
Strategic planning at country or global level
Corporate mineral inventory management
exploration target definition
development options
purchase price accounting
Why do we need a record of mineralised inventory or mineralisation that does not meet the requirement of a mineral resource?
Firstly needed for strategic long term planning of infrastructure, global level strategic planning for energy supply up to 2050 all tied in with climate change
Within companies they would need it for mineral inventory management and in particular…..

17. Classification of non-economic mineralisation

18. IEA/IAEA Classification
Mapped and bridged to CRIRSCO Template
Mapped and bridged to UNFC for Resources

19. UNFC CLASSES AND SUB-CLASSES UNFC CATEGORIES
UNFC-2009 CLASSIFICATION
CRIRSCO TEMPLATE
NEA/IAEA
CLASSIFICATION
UNFC CLASSES AND SUB-CLASSES
UNFC CATEGORIES
CRIRSCO CLASSES AND SUB-CLASSES
CLASS
SUB-CLASS E F G
IAEA-NEA CATEGORIES
STATUS
COMMERCIAL PROJECTS
ON PRODUCTION 1
1.1
MINERAL
RESERVES
PROVED
IDENTIFIED
RESOURCES
RAR **
EXISTING 2
PROBABLE
APPROVED FOR DEVELOPMENT
1.2
COMMITTED
JUSTIFIED FOR DEVELOPMENT
1.3
PLANNED
POTENTIALLY COMMERCIAL PROJECTS
DEVELOPMENT PENDING
2.1   
MINERAL RESOURCES
MEASURED
IDENTIFIED RESOURCES
PROSPECTIVE
INDICATED 3
INFERRED
IR*
DEVELOPMENT ON HOLD
2.2
NON-COMMERCIAL PROJECTS
DEVELOPMENT UNCLARIFIED
3.2
INVENTORY
(NOT DEFINED IN TEMPLATE)
DEVELOPMENT UNCLARIFIED
(NOT DEFINED IN TEMPLATE)
UNCLARIFIED
DEVELOPMENT NOT VIABLE
3.3
2.3
NOT VIABLE
EXPLORATION PROJECTS
3.1 4
EXPLORATION RESULTS
UNDISCOVERED RESOURCES
PROGNOSTICATED RESOURCES
3.2, 3.3
SPECULATIVE RESOURCES

20. Conclusion Need for management of inventory and resources
Company level
Country level
Global level
Definitions must be consistent

21. Acknowledgements
All slides