Comparison of Australian & Chinese Mineral Valuation Codes

Mineral resource evaluation code plays a key role in mineral asset transactions. This paper compares Australasian VALMIN Code, the world’s earliest code of its kind, and the Chinese CMVS code, in their concepts and definitions, analyses their difference from general requirements, application and technical code in principal, organization, field, application limits, evaluator’s qualification, evaluation path, parameters and results, and give suggestions to optimize and improve the two codes. This paper also discusses the causes of difference and provides reference of China and the world’s mineral resource evaluation code. Key words: VALMIN, CMVS, mineral valuation, resource evaluation