Introduced in Canada in 2001 by the Canadian Securities Administrators (CSA) in response to the Bre-X scandal, National Instrument 43-101 (NI 43-101) was designed to enhance transparency and reliability in mining project disclosures. Since its inception, it has played a key role in strengthening investor and public trust in mining projects both within Canada and globally.
Over the years, the structure of NI 43-101 reports has evolved to improve clarity and comprehensiveness, incorporating chapters on mining and recovery methods, marketing, environmental studies and infrastructure. Despite these improvements, the report format still falls short in addressing certain critical aspects of mining projects while providing excessive detail in others.
Acknowledgment: This article would not have been possible without the contributions and reviews of my long-time friend and colleague, Dr. Gilles Arseneau.
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