PERC

PAN-EUROPEAN RESERVES & RESOURCES REPORTING COMMITTEE

PERC is the organisation responsible for setting standards for public reporting of exploration results, mineral resources, and mineral reserves by companies listed on markets in Europe. It is a member of CRIRSCO, the Committee For Mineral Reserves International Reporting Standards, and the PERC Reporting Standard is fully aligned with the CRIRSCO Reporting Template. PERC is established formally as a not-for-profit organisation ('asbl') registered in Brussels by its four founding professional organisations.

A brief history

Following a series of mergers of professional institutions, the Reserves Committee set up by the Institution of Mining and Metallurgy in the UK, to set standards for reporting mineral exploration results, mineral resources and reserves has been re-constituted with a broader remit, as the Pan-European Reserves and Resources Reporting Committee (PERC). PERC has now been formalised as a not-for-profit organisation based in Brussels, at the offices of EFG.

PERC is the European equivalent of JORC in Australasia, SAMREC in South Africa, and similar reserves standards bodies elsewhere, and is a constituent member of the Committee For Mineral Reserves International Reporting Standards (CRIRSCO - www.crirsco.com). Representation on PERC covers major and junior mining sectors, industrial minerals, aggregates, coal, the investment and financial community and the professional accreditation organisations including:

• the Institute of Materials, Minerals, and Mining (IOM3)
• the European Federation of Geologists
• the Geological Society of London
• the Institute of Geologists of Ireland
• the Fennoscandian Association for Metals and Minerals Professionals
• the Iberian Mining Engineers Board

Its principal activities are:

• to manage and update the PERC Reporting Standard
• to represent the European region on CRIRSCO, the international body harmonising mineral reserves/resources reporting standards around the world
• to liaise with the financial sector including securities regulatory authorities in Europe, to assist them to incorporate into their rules the use of the PERC Reporting Standard in particular and CRIRSCO-aligned codes in general
• to promote good practice and assist with education for the reporting of mineral resources and reserves.
• to participate in national and international minerals statistics, research, and similar projects.