ANM Published a Resolution Regarding Mineral Resources and Reserves
The National Mining Agency ("ANM") published, in recent days and after receiving comments from the public, the Resolution 100 of March 17, 2020 (the "Resolution"), which sets forth the conditions and periodicity for the submission of information on mineral resources and reserves in respect to a concession area.
First, the Resolution establishes that the information reported in respect to mineral resources and reserves must comply with the Colombian Standard of Resources and Reserves or any other international standard recognized by the Committee for Mineral Reserves International Reporting Standards - CRIRSCO.
In addition, as a general rule, the Resolution determines that the information must be submitted together with the Program of Works and Projects - PTO, notwithstanding that the ANM may require such information at any contractual stage of the mining title. The submission of the information shall be carried out on an annual basis, in the first 5 days of October.
If, by the time this Resolution was published, the titleholder had already submitted its corresponding PTO, such titleholder must gather the information on the resources and mineral reserves within the following month of the enactment of the resolution, without any requirement from the ANM to do so. In addition, if the PTO of a titleholder has already been approved by the ANM when this Resolution was published, such titleholder must update the information on the mineral resources and reserves in accordance with the following deadlines:
- For large scale mining, until December 31, 2021;
- For medium-scale mining, until December 31, 2022; and
- For small-scale mining, until December 31, 2023.
Temporary Authorizations shall not comply with this Resolution. Likewise, those who do not comply with it will be subject to the sanctions contemplated in Article 8 of the Resolution, that is, the imposition of fines under the terms of Article 115 of the Mining Code.
See Resolution -HTTPS://WWW.ANM.GOV.CO/?Q=NORMATIVA-DE-LA-ANM
Link to article