Dec 09, 2019
The Financial Regulatory Commission develops a Mongolian Mineral Valuation Code
December 2019. Ulaanbaatar. The Financial Regulatory Commission (FRC) is leading a process to develop a Mongolian Mineral Valuation Code – MONVAL. The aim is for MONVAL to align with similar codes in Australia, Canada, the USA, and South Africa which all follow IMVAL – the International Mineral Property Valuation Standards template.
Valuation is the estimation of the cash value that would be exchanged for a mineral asset in a free market transaction. MONVAL will contain the principles and practices that professional valuers should apply when valuing mineral assets. Such valuations are required for listing on stock exchanges and can be used for other purposes.
AMEP brought the Chair of IMVAL, Steve Gemell to Mongolia in late 2019 to assist the Working Group established by the FRC with its task of developing MONVAL. Mr. Gemell presented to the Working Group as well as relevant professional associations to introduce concepts and practices relating to valuation and the international codes. His powerpoint presentation is available here. Steve also prepared a guide to the way in which other countries have adapted the IMVAL template to produce their national valuation codes.RECENT POSTS
