CRIRSCOramverket

The CRIRSCOramverket is a standardized framework for classifying and reporting mineral resources and ore reserves in the mining and extractive industries. It is designed to harmonize national and international reporting practices by integrating the core principles of the CRIRSCO framework with national reporting codes and industry practices. The framework emphasizes transparency, comparability, and material disclosure to investors, regulators, and stakeholders.

Its structure centers on the classification of mineral resources into Measured, Indicated, and Inferred categories and reserves into Proved and Probable categories, with clear criteria for geological confidence, economic viability, and technical feasibility. It prescribes the role of a Competent Person responsible for converting geological data into officially reported statements, and it defines the minimum information that must accompany resource and reserve estimates, including cut-off grades, price assumptions, and processing and recovery factors.

Methodologically, CRIRSCOramverket requires explicit documentation of the estimation process, data quality, exploration programs, and risk factors. It supports sensitivity analyses and disclosure of key assumptions, including mineralogy, metallurgy, capital and operating costs, exchange rates, and jurisdictional constraints. The framework aims to enable cross-border comparability of resource and reserve statements.

Adoption of the framework is voluntary in many jurisdictions but widely encouraged through alignment with CRIRSCO's international reporting template. National codes such as JORC, NI 43-101, SAMREC, and SAMVAL are designed to map onto the CRIRSCO structure for consistency. The framework is maintained through periodic updates reflecting advances in geology, modelling, and market conditions.

Critics note that despite its aims, the framework relies on professional judgment and data quality, which can vary by region. Ongoing effort focuses on reducing subjectivity, improving disclosure standards, and updating price and economic assumptions to reflect current market conditions.