The promotion of good standards of reporting of the
valuation of mineral assets in- public documents has
been of concern to professional mining industry bodies,
the securities industry, and. Government regulatory
bodies for some time. This concern led to the National Companies and
Securities Commission Release 149 (1990b) which laid
down standards for Expert Reports on mining and
petroleum securities, and other assets. The formation of the Australian Securities
Commission provided an opportunity for a timely
revision of Release 149 and the Mineral Valuation
Committee was established by The Australasian Institute
of Mining and Metallurgy in 1991 to review the existing
code, and to develop an appropriate new Code and
Guidelines.