PROFESSIONAL ETHICS AND PRACTICES - COLUMN 169
cially from a structural standpoint. This lack of basic geologic control makes all the accompanying geo- chemical or geophysical data and interpretations much less useful than they could be. Unfortunately, many of the scientific funding agen- cies around the world do not think funding for fieldwork is worthwhile, and hence many academics can- not get funding to carry out basic fieldwork. This has the unfortunate effect that many academics and their students are now undertaking “box of rocks” research instead of undertaking fieldwork and obtain-
ing the geologic observations and context for the samples collected. This is not a good situation for the new graduates going into mineral exploration or minerals geoscience research.
Gemmell goes on to suggest various ways the Society of Economic Geologists address these issues, suggestions that are SEG specific. Gemmell’s observa- tions on the need for a good background in basic field geology and mapping are critically important for geologic work. As S. Roden and T. Smith state, “The key message that needs to be remem- bered in the area of field sampling is that errors introduced at this stage of
the data generation process are, in most instances, the largest errors introduced into a program and that these errors cannot be rectified in the subsequent processing of the sample. Errors created in the field can only be rectified in the field” (2001, Sampling and analysis protocols and their role in mineral exploration and new resource develop- ment, in Mineral Resource and Ore Reserve Estimation—The AusIMM Guide to Good Practice: AusIMM Monograph 23). The lab cannot make up for poor observations or sampling in the field. And lab conclusions are only valuable if they can be applied in the field and help the understanding of what is seen in the field.
Geologic Ethics & Professional Practices is now available on CD
This CD is a collection of articles, columns, letters to the editor, and other material addressing professional ethics and general issues of professional geologic practice that were printed in The Professional Geologist. It includes an electronic version of the now out-of-print Geologic Ethics and Professional Practices 1987-1997, AIPG Reprint Series #1. The intent of this CD is collection of this material in a single place so that the issues and questions raised by the material may be more conveniently studied. The intended ‘students’ of this CD include everyone interested in the topic, from the new student of geology to professors emeritus, working geologists, retired geologists, and those inter- ested in the geologic profession.
AIPG members will be able to update their copy of this CD by regularly downloading the pe&p index.xls file from the
www.aipg.org under “Ethics” and by downloading the electronic version of The Professional Geologist from the members only area of the AIPG website. The cost of the CD is $25 for members, $35 for non-members, $15 for student members and $18 for non-member students, plus shipping and handling. To order go to
www.aipg.org.
The SEC’s Final Rule on Modernization of Property Disclosures for Mining Registrants
David M. Abbott, Jr., CPG-04570
The US Securities and Exchange Commission issued Release 33-10570, the final rule on Modernization of Property Disclosures for Mining Registrants,
www.sec.gov/rules/ final/2018/33-10570.pdf, on October 31, 2018. This 455-page release represents a substantial revision of the SEC’s proposed rules issued in June 2016 and brings the mining disclosure requirements much closer to but not in precise conformity to the internationally recognized CRIRSCO-templates defini- tions and disclosure guidelines such as the SME Guide for Reporting Exploration Information, Mineral Resources, and Mineral Reserves (2017). The SEC will not concede control of its disclosure rules. These new rules will become final 60 days after publication in the Federal Register (about January 1, 2019). Registrants engaged in mining operations must comply with the final rule amendments for the first fiscal year begin- ning on or after January 1, 2021. Industry Guide 7 will remain effective until all registrants are required to comply with the
www.aipg.org
final rules, at which time Industry Guide 7 will be rescinded. This two-year delay for compliance will allow mining firms to become familiar with the new rules and prepare appropriate reports such as the Technical Report Summary that must be completed for all material properties containing estimated mineral resources and mineral reserves.
The full implications of these new rules are just beginning to be understood as are comparisons with existing internationally recognized disclosure systems. A committee consisting of mem- bers of the Society for Mining, Metallurgy, and Exploration (SME) and the National Mining Association (NMA) has been commenting on the SEC’s proposed rules for over 2 years and will be assembling comments, compliance suggestions, and related documents on the new SEC rules over the coming months. Those interested in the process should contact David Abbott, CPG, former SEC geologist, and member of the SME/ NMA committee for further information,
dmageol@msn.com.
Jan.Feb.Mar 2019 • TPG 43
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