Philippine Mineral Reporting Code
The Philippine Mineral Reporting Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (PMRC) was adopted by the Securities and Exchange Commission (SEC) and the Philippine Stock Exchange (PSE). It sets out minimum standards, recommendations and guidelines for public reporting of exploration results, mineral resources and oil reserves compatible with global standards (i.e., Committee for Mineral Reserves International Reporting Standards International Reporting Template 2019 and Australasian Joint Ore Reserves Committee Code 2012).
Mining companies are required to publish and submit a report on their mining-related activities to the SEC and PSE according to the prescribed criteria and terminology in a standardised form. The companies need to confirm that the legal environmental and social requirements have been complied with, the results of exploration (for exploration permits), royalties, geological setting, techniques used, etc.
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