Canada’s National Instrument 43-101 ("NI 43-101”) Standards of Disclosure for Mineral Projects governs a company's public disclosure of scientific and technical information about its mineral projects. Mining and mineral exploration companies in Canada must follow specific guidelines for disclosure, designed to improve the accuracy and integrity of the information they provide. Reporting standards similar to NI 43-101 include:
+ Joint Ore Reserves Committee Code - JORC (Aus)
+ Code For Reporting of Mineral Resource and Mineral Reserves – SAMREC (SA)
+ Pan European Reserves & Resources Reporting Committee – PERC (EUR)
Mining project disclosure must be based on information provided by a "qualified person" or “QP” (as defined in NI 43-101). NI 43-101 requires a company to file a technical report at certain times, prepared in a prescribed format, and authored by a QP or QPs. In some circumstances, the QP must be independent of the company and the property.
NI 43-101 has set the international standard for the mining industry, and MIM has QPs that are expert in their domains according to regulatory requirements.