A responsible way of assessing mineral resources
Measuring and assessing how valuable findings are estimated to be in a systematic and transparent way is important for a responsible mineral industry. As members of Svemin, companies must use an internationally accepted standard that describes how exploration results, mineral assets and mineral reserves should be assessed and reported. The recommended reporting standard is called the PERC Reporting Standard and is based on the standard The Template developed by CRIRSCO (see definitions below).
The non-profit organization Fennoscandian Association for Metals and Minerals Professionals (FAMMP) brings together qualified persons (QP:s) mainly in Sweden, Norway and Finland who meet the organisation’s requirements for competence and experience in making exploration results, mineral assets and mineral reserves that meet the requirements of PERC standard. All Svemin’s member companies must use qualified people to assess and review results that are published publicly.
FAMMP is supported by Svemin but is operated without any decisive influence from the mining industry. In addition to its Board of Directors, the FAMMP consists of committees with the task of reviewing membership applications, providing training on the PERC standard and handling any disciplinary matters concerning the association’s qualified persons.