Canadian Securities Administrators

Canadian Securities Administrators

April 23, 2010 11:00 ET

Canadian Regulators Seek Comment on Proposed Changes to National Mining Rule

VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 23, 2010) - The Canadian Securities Administrators (CSA) today published proposals to update the rules that govern disclosure by mining companies.

The CSA is seeking comment by July 23, 2010 on its proposal to repeal and replace National Instrument 43-101 Standards of Disclosure for Mineral Projects, Form 43-101F1 Technical Report, and Companion Policy 43-101CP. The CSA is specifically seeking comment on whether to keep, modify or eliminate the short form prospectus trigger for technical reports. Anyone interested in providing feedback will find full information about the proposed amendments, the discussion issues, and how to submit comments in the Notice and Request for Comment released today.

"We have received a great deal of feedback from market participants on the challenges the current mining disclosure rules pose to their operations," said Jean St-Gelais, Chair of the CSA and President & Chief Executive Officer of the Autorite des marches financiers (Quebec). "The proposed changes reflect our analysis of the results of these consultations and the experience of our mining professionals with the existing rule. We believe the proposed changes will provide cost savings and efficiencies to mining companies without compromising investor protection."

These are the first proposed major changes to NI 43-101 since it went into effect in 2001. The proposed amendments to NI 43-101 aim, among other things, to increase flexibility in some areas and eliminate or reduce the scope of certain requirements while maintaining investor protection.

Copies of the proposed rule amendments and additional background information are available on the websites of CSA members.

The CSA, the council of the securities regulators of Canada's provinces and territories, co-ordinates and harmonizes regulation for the Canadian capital markets.

Contact Information

  • Ontario Securities Commission
    Robert Merrick
    416-593-2315
    or
    Alberta Securities Commission
    Mark Dickey
    403-297-4481
    or
    Manitoba Securities Commission
    Ainsley Cunningham
    204-945-4733
    or
    Nova Scotia Securities Commission
    Natalie MacLellan
    902-424-8586
    or
    PEI Securities Office
    Office of the Attorney General
    Janice Callbeck
    902-368-6288
    or
    Yukon Securities Registry
    Fred Pretorius
    867-667-5225
    or
    Northwest Territories Securities Office
    Donn MacDougall
    867-920-8984
    or
    Autorite des marches financiers
    Sylvain Theberge
    514-940-2176
    or
    British Columbia Securities Commission
    Brenda Lea Brown
    604-899-6554
    or
    New Brunswick Securities Commission
    Wendy Connors-Beckett
    506-643-7745
    or
    Saskatchewan Financial Services Commission
    Barbara Shourounis
    306-787-5842
    or
    Newfoundland and Labrador
    Financial Services Regulation Divison
    Doug Connolly
    709-729-2594
    or
    Nunavut Securities Office
    Louis Arki
    867-975-6587