Standards

This area of the IIMA website contains links to some of the more commonly used general appraisal and valuation standards or guidelines which may not specifically be directed to mineral properties and/or mining operations.

International Mineral Valuation Committee (IMVAL) The International Mineral Valuation Committee is an international committee comprised of representatives of SAMVAL (South Africa), CIMVAL (Canada), VALMIN (Australasia), the SME Valuation Standards Committee (USA), and IIMA (USA). The Template is intended as a principles-based template to be recognised as a common set of minimum requirements for national codes or standards concerning the valuation of Real Property mineral assets (Mineral Property). The Template represents a consensus of current good practices and is expected to be updated from time to time. The Template is not intended to be a stand-alone reporting code, and does not supersede existing national reporting standards.

International Valuation Standards Council (IVSC) The International Valuation Standards Council (IVSC) is a not-for-profit organisation that acts as the global standard setter for the valuation profession, serving the public interest. The IVSC is unique in the role it plays as a valuation standard setter. It is not a valuation trade body. The IVSC is a leader in the mission to raise standards of international valuation practice and is overseen by an independent board of global leaders.

The Uniform Standards of Professional Appraisal Practice (USPAP) The Uniform Standards of Professional Appraisal Practice (USPAP) is the generally recognized ethical and performance standards for the appraisal profession in the United States.

SME Standards and Guidelines for Valuation of Mineral Properties The SME Valuation Standards have evolved from the SME Valuation Standards Committee’s participation since the outset, in a project begun in 2012 by the International Mineral Valuation Committee (IMVAL), to harmonize standards globally for mineral property valuations, including petroleum properties. The SME Valuation Standards have been adopted by SME. It is strongly recommended that SME members use and abide by these.