Challenges for Chinese Valuators
CAMRA, the Chinese Association of Mineral Resource Appraisers in 2008, after many years of research released a new set of Standards of Chinese Mineral Resources Appraisal. These were presented at a CIM sponsored event in Toronto in October 2013. CAMRA has invested considerable time and effort over the last 10 years to understanding the principles and concepts that underpin the globally recognized valuation codes such as CIMVal, VALMIN, and SAMREC. Their challenge being the development of standards that on the one hand would be acceptable and recognized internationally yet also complies with the current legislative framework and reporting standards and requirements in China. A brief comparative review of the new Chinese Standards and current valuation codes is presented. Commentary on the process, challenges overcome and lessons to be learned are also provided.