SEC Modernizes Property Disclosure For Mining Registrants

On October 31, 2018, the United States Securities and Exchange Commission ("SEC") adopted amendments to the existing property disclosure requirements for mining companies registered with the SEC ("Registrants"). The amendments consolidate the disclosure requirements previously set forth in Item 102 of Regulation S-K and in Industry Guide 7 by relocating them in a single set of rules in the new subpart 1300 of Regulation S-K. The SEC intends to provide investors with a more comprehensive understanding of Registrants' mining properties, while removing existing requirements that put U.S.-based mining companies at a competitive disadvantage. The new disclosure regime conforms with industry and global regulatory practices and standards as identified by the Committee for Mineral Reserves International Reporting Standards ("CRIRSCO"), which includes Canada's National Instrument 43-101, Australia's Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves