Canadian securities regulators adopt new version of mining rule

VANCOUVER, April 8 /CNW/ - The Canadian Securities Administrators (CSA) have published a new version of National Instrument 43-101 Standards of Disclosure for Mineral Projects, its related form and policy.

The revised mining rule and related amendments eliminate or reduce the scope of certain requirements, provide greater flexibility to mining issuers in certain areas, reflect changes that have occurred in the mining industry, and clarify or correct areas where the previous standards were not having the desired effect.

"Canada has developed one of the most effective and efficient mining disclosure regimes in the world," said Bill Rice, Chair of the CSA, and Chair and Chief Executive Officer of the Alberta Securities Commission. "These amendments reinforce our commitment to maintaining world class standards and continuing to meet the changing disclosure needs of the mining industry."

Following a series of focus group discussions with market participants, the CSA developed the proposed changes to the existing mining rule and published them for comment. The CSA received 50 submissions.

In some jurisdictions, ministerial approvals are required for these changes. Subject to obtaining all necessary approvals, the revised mining rule and related amendments will come into force on June 30, 2011.

The revised mining rule and related amendments are available on the websites of CSA members.

The CSA, the council of the securities regulators of Canada's provinces and territories, co-ordinates and harmonizes regulation for the Canadian capital markets.

SOURCE Canadian Securities Administrators

For further information:

Richard Gilhooley  Lorinda Brinton
British Columbia Securities Commission  Alberta Securities Commission
604-899-6713  403-297-2665
   
Carolyn Shaw-Rimmington  Sylvain Théberge
Ontario Securities Commission  Autorité des marchés financiers
416-593-2361 514-940-2176
   
Ainsley Cunningham  Wendy Connors-Beckett
Manitoba Securities Commission  New Brunswick Securities Commission
204-945-4733  506-643-7745
   
Natalie MacLellan  Barbara Shourounis
Nova Scotia Securities Commission  Saskatchewan Financial Services Commission
902-424-8586  306-787-5842
   
Janice Callbeck  Doug Connolly
PEI Securities Office   Financial Services Regulation Div.
Office of the Attorney General   Newfoundland and Labrador
902-368-6288  709-729-2594
   
Graham Lang  Louis Arki
Yukon Securities Registry   Nunavut Securities Office
867-667-5466  867-975-6587
   
Donn MacDougall  
Northwest Territories  
Securities Office  
867-920-8984

 


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