PERC Standard

History

PERC Reporting Standard 2021

PERC Summary Guide

The PERC SUMMARY GUIDE provides an introduction to the Reporting of Exploration Results, Mineral Resources and Mineral Reserves under the PERC Reporting Standard 2021 for European Securities Exchanges and Markets. The PERC SUMMARY GUIDE summarises the principles and standard definitions and highlights the key aspects of Public Reporting for Mineral Companies, as an easy reference for both non-technical and expert users. The PERC SUMMARY GUIDE assists the reader in familiarising themselves with the mineral sector‘s language and the proper use of the terminology used.

PERC Mineral Project Evaluation Report Template

The PERC Mineral Project Evaluation Report Template (MPER Template) provides a framework to assist Competent Persons (CPs) in the compilation of data, information, interpretations, assessments and conclusions relevant to Exploration Results, Mineral Resources and Mineral Reserves throughout a Mineral Project’s life cycle from early exploration through advanced mineral development to extraction operation.  The template is focused on assisting CPs in compiling such information in a manner that conforms with the requirements and recommendations outlined in the PERC Reporting Standard.  Specific linkages with Table 1 in the PERC Reporting Standard are provided to facilitate compliance with its requirements.

The Template allows CPs to prepare a Mineral Project Evaluation Report that is the foundation document from which appropriate extracts form the basis for different types of reports as indicated schematically in the image and listed below.

• Competent Person Reports (CPR) for Company listing requirements on the Securities Exchanges;
• Company Public Reports that require Competent Person sign-off of released material;
• Company Non-Public strategic reports on Mineral Asset development and management, such as exploration and target generation, and short-term or long-term mine planning;
• Mineral Reporting in case of acquisition, purchase or selling of Mineral Assets;
• Mineral Reporting requirements for regulatory authorities, typically for permit applications, such as a mining works programme;
• Mineral Inventory reporting to national geological surveys;
• Mineral Classification purposes for submissions on Critical Raw Material (CRM) Projects for the European Union (EU) using the United Nations Framework Classification (UNFC) System;

An introduction to the MPER template and its intended usage was provided in a presentation made during its public launch in May 2024. The webinar provided a review of the overall structure of the MPER template together with details about the information which is to be recorded in each section.  Advice was also provided on how CPs can use a Mineral Project Evaluation Report to facilitate the need to meet requirements to report to different entities in a consistent manner.  Reference was also made to the other CRIRSCO reporting codes and standards which, as with the PERC Reporting Standard, are also based on the CRIRSCO Template.

The PERC Mineral Project Evaluation Report Template can be downloaded as both .pdf and .docx versions.

The slide presentation from the launch webinar is available to download as a pdf file, and a recording of the webinar can be viewed on PERC’s YouTube channel. 

Comments on the PERC Mineral Project Evaluation Report Template can be provided using the Feedback Form.

PERC Standard Definitions

Approved translations of the PERC Standard Definitions and the PERC Figure 1 have been prepared for several European languages.

The text and image files for the following languages can be downloaded using the links provided in the table below:  Finnish (FI); French (FR); German (DE); Italian (IT); Portuguese (PT); Spanish (ES) and Swedish (SV).

Click on the corresponding pdf icon in order to view the text file with the definitions in the selected language.

Click on the corresponding jpg icon in order to view Figure 1 in the selected language.

PERC List of RPOs

The PERC list of Recognised Professional Organisations (RPOs) provides a list of the professional organisations and required membership levels that are accepted by PERC for the purpose of the definition of a Competent Person at Clause 3.2 of the PERC Reporting Standard 2021.

To be accepted as a RPO by PERC, an organisation must satisfy the following criteria:

• be a self-regulatory organisation covering professionals in the mining and/or exploration industry;
• admit members primarily on the basis of their academic qualifications and professional experience;
• require compliance with the professional standards of competence and ethics established by the organisation anywhere in the World (not just within the home jurisdiction of the organisation); and
• have disciplinary powers, including the power to suspend or expel a member for breaches of professional standards of competence or ethics anywhere in the World.

The minimum membership classes required by PERC are consistent with those in other CRIRSCO Reporting Codes and Reporting Standards and have been set at a level where the membership class is based on a system of peer scrutiny, including submission of documentation demonstrating experience and expertise and normally a professional interview, or where there is no interview PERC would need to be satisfied that the system of peer scrutiny is sufficiently robust.