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Jun 21, 2016

SEC Proposes Revamp of its Mining Company Disclosure Requirements

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On June 16, 2016, the US Securities and Exchange Commission (“SEC”) issued a proposed rule, which, if adopted, would amend disclosure requirements for mining company issuers. The key changes proposed for mining companies are: (1) requiring the disclosure of mineral resources in certain circumstances (currently generally prohibited), (2) requiring that mineral reserves and resources disclosures and material exploration results reported in registration statements and reports filed with the SEC be based on, and accurately reflect, information and supporting documentation prepared by a “qualified person,” and (3) providing one standard requiring companies to disclose mining operations that are material to the company’s business or financial condition and formalizing guidance that mining operations constituting 10% or more of a company’s total assets are presumed material.

View full memo, SEC Proposes Revamp of its Mining Company Disclosure Requirements

Authors and Contributors

Jonathan Handyside

Counsel

Capital Markets

+44 20 7655 5021

+44 20 7655 5021

London

Cynthia Urda Kassis

Partner

Project Development & Finance

+1 212 848 7969

+1 212 848 7969

New York

Jason Lehner

Partner

Capital Markets

+1 416 360 2974

+1 416 360 2974

Toronto