The Philippines achieved a significant milestone by securing membership in the Committee for Mineral Reserves International Reporting Standards (CRIRSCO) through the Philippine Mineral Reporting Code Committee (PMRCC), marking its recognition as the 15th member of the committee.
Based on the report by The Manila Times, this membership serves to elevate the transparency and credibility of the Philippine mining industry on the global stage.
The PMRC (2020 Edition) stands as the official guideline for public disclosure regarding exploration findings, mineral resources, and reserves within the nation. Being accepted into CRIRSCO emphasizes that the PMRC aligns with international reporting standards, mirroring the level of detail and transparency upheld by leading countries such as Australia, Canada, Chile, Europe, South Africa, and the United States.
Chairman Ciceron Angeles Jr. of PMRC expressed his appreciation for their inclusion in CRIRSCO, stating that it highlights their dedication to maintaining top-tier reporting standards and safeguarding investor interests.
Moreover, PMRC’s integration of CRIRSCO standards, including the incorporation of sustainability clauses focusing on economically viable resource declarations, is anticipated to exert a significant influence on short- and medium-term strategic planning within the mining domain.
Vice President of Nickel Asia Corp. (NAC) Rolando Cruz affirmed the PMRC’s certification on a global platform solidifies the Philippines’ position as an accountable and attractive destination for mining investments.
The PMRC’s membership in CRIRSCO serves as a pivotal step towards affirming the country’s commitment to responsible mining practices, strengthening its allure for potential investors seeking reliable and transparent mineral resource reporting standards.
