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VALMIN Code (2015 Edition) released

After an extensive review process, the VALMIN Committee announces the new VALMIN Code (2015 Edition) has now been approved by AusIMM and AIG.

The 2015 Edition of the VALMIN Code is available here.

The VALMIN Code (2015 Edition) will be effective from 30 January 2016 and becomes mandatory for AusIMM and AIG members from 1 July 2016.

During the transition period of 30 January to 30 June 2016, Public Reports are able to be published in accordance with either the 2005 or new 2015 Edition of the VALMIN Code –all Public Reports published in this period should clearly state which version of the Code has been applied.

The core purpose and principles of the VALMIN Code remain unchanged, but this new edition includes some important changes:

  • Clearer structure and plain-English Code text
  • Alignment with the JORC Code (2012 Edition) and other relevant guidelines and laws
  • Clarity about the definitions for and roles of VALMIN Practitioners
  • Clarity about the types of Public Reports, their development and use
  • Guidance on valuation approaches and methodologies
  • Increased transparency requirements for Public Reports
  • Exclusion of petroleum from the mandatory provisions of the Code (however, the 2015 Edition VALMIN Code provides guidance that can be applied for petroleum valuation reports).To access the VALMIN Code (2015 Edition) and for more information about the changes it introduces, see www.valmin.org.
The revised VALMIN Code will be a key focus at the Project Evaluation Conference being held in Adelaide on 8-9 March. The conference will feature a keynote presentation by VALMIN Chair Louis Rozman, and a panel discussion involving VALMIN Committee members. Discounted registration is available to AusIMM and AIG members. More information regarding the conference is available here.

Compliance with the VALMIN Code is mandatory for AIG members.

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