The SEC has adopted new rule amendments to modernize disclosures by mining companies. According to the press release, the amendments “will provide investors with a more comprehensive understanding of a registrant’s mining properties, which should help them make more informed investment decisions. The amendments also will more closely align the Commission’s disclosure requirements and policies for mining properties with current industry and global regulatory practices and standards.” The rule changes were originally proposed in 2016, although the final rules include changes designed to adhere more closely to international reporting standards and, as a result, decrease the compliance burden and costs for the many companies. Most of the amendments will become effective 60 days after publication in the Federal Register; however, there is a two-year phase-in, with the result that registrants engaged in mining operations will be required to comply with the final rule amendments for the first fiscal year beginning on or after January 1, 2021.
- Posted in: Securities
- Tagged in: mining companies, SEC