ArmInfo. The Ministry of Territorial Administration and Infrastructure discussed Armenia's accession to CRIRSCO (the Committee on International Reporting Standards for Mineral Reserves). According to the ministry's press service, Deputy Minister of Territorial Administration and Infrastructure of the Republic of Armenia Asatur Vardanyan received a delegation led by CRIRSCO Chairman Garth Kirkham.
The parties also discussed the technical and legal prerequisites for membership.
Vardanyan welcomed the guests, emphasizing that CRIRSCO membership is of strategic importance for Armenia and is enshrined in the Mining Sector Development Strategy. The meeting was also attended by Harutyun Movsesyan, Director of the Republican Geological Fund State Non-Commercial Organization of the Ministry of Territorial Administration and Infrastructure of the Republic of Armenia; Vahan Grigoryan, Chairman of the Union of Geologists of Armenia; Sargis Kelyan, Dean of the Faculty of Geography and Geology at Yerevan State University; Vardan Janyan, President of the Union of Mining and Metallurgy of Armenia; and Armen Stepanyan, Union member. As a reminder, a few days earlier, the Zangezur Copper and Molybdenum Combine (ZCMK) initiated discussions with the Armenian geology community on the country's accession to the Committee on International Mineral Reserves Reporting Standards (CRIRSCO).
CRIRSCO is a coalition of representatives of organizations responsible for developing mineral resource reporting codes and guidelines in Australia (JORC), Brazil (CBRR), Canada (CIM), Chile (National Committee), Colombia (CCRR), Europe (PERC), India (NACRI), Indonesia (KOMBERS | KCMI), Kazakhstan (KAZRC), Mongolia (MPIGM), the Philippines (PMARC), Russia (OERN), South Africa (SAMREC), Turkey (UMREK), and the United States (SME). The combined value of mining companies listed on these countries' stock exchanges accounts for more than 80% of the listed capital of the mining industry. The organization's goal is to promote international best practices in the public reporting of exploration results, mineral resource estimates, and deposit reserves.
Speaking to journalists on the sidelines of this event, Vardan Janyan, Deputy CEO of ZMMC and Chairman of the Armenian Mining and Metallurgy Association, recalled that one of the provisions of the Armenian mining development strategy, adopted by the authorities several years ago, was the implementation of CRIRSCO standards. He emphasized that the latter will align national legislation in this area with international standards. "This will allow investors from all over the world to understand our reporting. In other words, we will speak the same geological language-our standards will be in line with international ones. This will help the industry develop properly," Janyan said.
