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SEC Adopts Mining Disclosure Amendments

By Randi Morrison posted 10-31-2018 10:19 PM

  
Further to today's Society Alert, the SEC adopted (today) mining disclosure amendments. Modernizing these disclosures was among the "Final Rule Stage" rulemakings identified on the SEC's current (Fall 2018) Reg-Flex agenda, which we reported on last week.

Per the SEC's release, in contrast to current rules & guidance that permit disclosure of non-reserve estimates only in limited circumstances, the amendments require mining registrants to disclose information concerning their mineral resources in addition to their mineral reserves.

SEC Chair Clayton said:
 

The final rules will modernize the Commission’s mining property disclosure regime by improving the quality and reliability of information provided to investors and by harmonizing disclosures with international standards, including removing the restriction on disclosure of mineral resource estimates that may have placed U.S. registrants and investors at a disadvantage. We appreciate the valuable input that we have received from a diverse group of interested parties that helped inform the Commission and shape the final rules.”

 

 See also this Cooley post.
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