Yesterday the U.S. Securities and Exchange Commission (SEC) released its long-awaited final rule on Modernization of Property Disclosures for Mining Registrants. The fact sheet and link to the full rule may be found here.

The original proposed rule was released in June, 2016, and the rule and comments that were submitted in response to the original rule may be found here. Groff has been an active participant on the Resources and Reserves Committee of the Society for Mining, Metallurgy, and Exploration (SME) since the rule was first proposed and understands the many challenges presented by the initial proposal, which aimed to rescind Industry Guide 7 and replace it with a new Regulation S-K subpart 1300. The final rule, released yesterday, appears to address many of the concerns raised by the mining and investment community. However, a careful read of the final rule is required for a full understanding. Stay tuned for more commentary here.