If you did not make it to the SME Annual Conference & Expo this year and missed the panel discussion on the new SEC Mining Disclosure Rule, there are other presentations coming up. Previously, this was discussed in our blog articles Final Mining Disclosure Rule Released by the U.S. Securities and Exchange Commission and U.S. SEC Final Mining Disclosure Rule Written into Law. Regulation S-K subpart 229 items 1300 through 1305 are commonly referred to as S-K 1300. It can be easily located on eCFR by drilling down to 17CFR 229.1300. A few upcoming opportunities:
- 4/9-4/10 – Public Reporting of Exploration Results, Mineral Resources and Reserves, St. Louis, MO – taught by SEC Academic Fellow Dr. Kwame Awuah-Offei
- 4/12-4/13 – Central Appalachian Section SME 2019 Spring Meeting, Lexington, KY – a short presentation by Brian Groff
- 4/28-5/1 – Current Trends in Mineral Finance in New York, NY – a panel discussion with Dr. Harry Parker, Bernard Guarnera, Deborah McCombe, P.Geo., and Brian Groff.
- 9/6/2019 – Professional Engineers in Mining Seminar, Lexington, KY – A full day of PDH for professional engineers and a short update on developments related to S-K 1300.
- 9/9-9/11/2019 – CRIRSCO annual meeting in Washington, D.C.
Additionally, Society for Mining, Metallurgy & Exploration will be publishing the slides from the Annual Conference & Expo S-K 1300 presentation in the coming days. Also, the SME Resources and Reserves Committee is currently planning a series of webinars tailored to specific industries, such as coal, industrial minerals, base metals, and even brines.
The main concerns from industry include:
- Liability – how to manage the increased liability placed on QP’s and firms by the new rule? Must an independent firm(s) be hired?
- Materiality – when is a property material, and is it material enough to require individual disclosure with a technical report?
- Confidentiality – how to maintain confidentiality of certain legal agreements and land positions?
- Internal Controls – what must be reported to establish that internal controls are effective with QA/QC?