The VALMIN Committee is a joint committee of The Australasian Institute of Mining and Metallurgy (AusIMM) and the Australian Institute of Geoscientists. The committee was established to develop and maintain the "Australasian Code for Public Reporting of technical assessments and valuations of mineral assets", commonly known as the VALMIN Code. The VALMIN Code was first published in 1995, with subsequent editions published in 1997, 2005 and 2015.
The VALMIN Code sets out requirements for the technical assessment and valuation of mineral assets and securities for independent expert reports, it provides guidance for petroleum assets and securities.
With the recent publication of the new VALMIN Code (2015 Edition), a transition between the 2005 and new 2015 Editions of the Code is currently underway.
This edition of the Code is currently applicable, and AusIMM and AIG members may publish Public Reports that are consistent with this edition of the Code until 30 June 2016.
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.
For more information on the 2015 Edition of the Code and the transitional arrangements, click here.