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    Why Do Mines Need Competent Person’s Reports?

    While undertaking mine feasibility studies to test whether a mining project will be feasible and profitable is easily understandable, there are still many who wonder why exactly mines need Competent Person’s Reports. Also, what makes a person competent in performing these specialist mining studies?

     

    What exactly is a Competent Person?

     

    In order to qualify as a Competent Person and be qualified to sign off on Public Reports, an individual must fulfil a range of criteria, first of which is being a member of a recognised professional organisation (RPO). From there the criteria may differ based on certain codes and requirements, but these individuals must always have sufficient experience in the relevant fields, mineralisation styles, types of deposits, exploration and assessments as relevant to the report in question.

     

    So, simply put, a Competent Person involved in signing off on these specialist mining studies and reports must be an experienced and recognised member of a RPO.

     

    Why do mines need these Competent Persons?

     

    Without the necessary reports regarding Public Reporting of Exploration Results, Mineral Resources, Ore reserves, or Independent Technical Audits, a mine will not be able to operate. Especially in the case of Independent Technical Audits, these are required if a mine is looking to engage in any capital raising efforts. And all of these reports rely on the preparation and signing off of the correct documentation, in accordance with applicable codes, by a Competent Person.

     

    Therefore, without a Competent Person mining operations will likely be forced to remain idle, resulting in heavy losses, despite positive results in mine feasibility studies. So they are necessary for the business of having an operational mine.

     

    How do mines acquire the services of Competent Persons?

    The easiest option for a mine in need of Competent Person Reports is to acquire the services of mining consultants like Ukwazi. These consultants have professional Competent Persons and Competent Valuators among their personnel who are available to provide clients with this particular service. So if you are in need of a Competent Person, simply contact a mining consultant to see what can be done.

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