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VALMIN Code Reporting
Intake commences 30 June 2025
20 PD hours
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Course Overview
- The VALMIN Code sets out requirements for the technical assessment and valuation of mineral assets and securities for independent expert reports.
- Learn the fundamentals & principles of appropriate Public Reporting of technical assessment and/or valuations of mining assets.
- The VALMIN Code provides guidance for petroleum assets and securities.
Who is this for?
- Technical professionals: Those preparing technical assessments and economic studies.
- Company directors: Head office senior management and technical personnel with a responsibility for VALMIN reports.
- Advisory and accounting groups: With valuation practices.
Course Modules
Module 1 | Why the VALMIN Code?
Why using the VALMIN Code is important
In this module you will learn about why the VALMIN Code is important:
- Describe why using the VALMIN Code is important
- Define when and how the Code is used
- Demonstrate how the VALMIN Code interacts with the JORC Code
- Demonstrate VALMIN Code interaction with other regulations
- Describe the roles of VALMIN Practitioners
- Describe who has responsibility for correct Code application
- Outline how the use of the VALMIN Code is governed
- Define the VALMIN Code principles, in particular independence and reasonableness
- Explain the priority of guidance and where VALMIN Code fits
Module 2 | Preparing Technical Assessment Reports
Purpose of a VALMIN Public Report
In this module you will learn how to prepare Technical Assessment Reports:
- Explain the primary purpose of a VALMIN Public Report
- Describe the commissioning of a VALMIN Public Report
- Describe what a VALMIN public report is, and how it can be used
- Identify a VALMIN non-public report
- Describe how a technical assessment report (evaluation) is different from a valuation report
- Recognise the key elements of a VALMIN Technical Report
- Explain site inspection requirements
- Explain why indemnities and declarations are important
- Describe the key roles in the VALMIN report process
Module 3 | Undertaking Valuations
Basis of value in the VALMIN Code
In this module you will learn how to undertake valuations:
- Explain the basis of value in the VALMIN Code
- Recall the responsibility of the Practitioner with respect to Valuation Approaches and Methods
- Identify the most commonly applied Valuation Methods and their relationship to the Valuation Approaches
- Identify areas of concern and typical pitfalls in the application of Valuation Methods
- Describe inputs into Valuation Methods, including CAPM, JV and Kilburn Geoscientific inputs
- Recognise the assets that can be valued using the VALMIN Code
- Describe the importance of a valuation range
- Explain market discounts and premia
Module 4 | Finalising the Report
Key steps in finalising a public VALMIN report
In this module you will learn how to finalise the report:
- Explain the key steps in finalising a public VALMIN report (sharing draft, feedback, updates, regulator review, finalisation) and the key elements of each
- Describe the different steps required for a report with a technical assessment only, compared with one with a technical assessment and valuation
- Describe requirements for finalising the assignment, including the Practitioner’s record keeping obligations
- Discuss common misconceptions regarding the VALMIN Code
- Give examples by way of practical guidance, anecdotes, experiences and case studies
Course Pricing
Member Price
A$1,491
Price is inclusive of 10% GST
- Exclusive discounts
- Access to digital library
- Networking opportunities
- Professional development
- Industry insights
Associate membership and enrolment bundle
A$1,747
Price is inclusive of 10% GST
- Exclusive discounts
- Access to digital library
- Networking opportunities
- Professional development
- Industry insights
Non-member
A$1,940
Price is inclusive of 10% GST
- Exclusive discounts
- Access to digital library
- Networking opportunities
- Professional development
- Industry insights
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VALMIN Code Reporting
Learning Objectives
- Describe a holistic view of the Code and the role it plays in the minerals industry and reporting environment
- Interpret the Code within the context of your working environment
- Explain the principles of how to approach mineral asset valuation
- Recognise how to manage risks when using the Code
Course dates
Virtual classroomsCourse Structure
The five-week course is a collaborative, hands-on online learning experience, taking learners approximately 20 hours to complete. Please note the live sessions are not mandatory, the virtual classrooms will be recorded and available on the same day for participants who are unable to attend the live event. Course content includes:
- Four 105-minute virtual classroom sessions
- Pre-recorded videos featuring interviews with experts
- Resources such as case studies, articles, associated content
- Group discussion forums
- Test questions
Course Facilitators
Deborah Lord
FAusIMM(CP)
Chair of the VALMIN Committee; Principal, Valuation and Resource Management
Deborah Lord is a geologist with 30 years’ global experience in the resources sector specialising exploration and resource governance and valuation. She is an Executive Member of the VALMIN Committee and Member of the AusIMM Professional Conduct Committee. Deborah is Director and Principal of Valuation and Resource Management that specialises in mineral asset valuation and management across a range of commodities. Formerly the Head of Resource Governance for BHP, Deborah managed Mineral Resources and Ore Reserves assurance across the minerals portfolio including public reporting and regulatory compliance across multiple securities exchanges (ASX, NYSE, LSE, JSE), Competent Person training and technical input into internal audit. She has previously worked at SRK Consulting, Placer Dome and WMC Resources based in Australia, South and North America.
Graham Jeffress
FAusIMM(CP)
Partner, Service Lead - Sustainable Mining Services, ERM
Graham is a geologist with more than 30 years’ experience in exploration and management in Australia, PNG and Indonesia, working for companies large and small, government, and in consulting. He has worked in exploration (ranging from grassroots reconnaissance through to brownfields, near-mine, and resource definition), project evaluation and mining. Graham manages ERM’s geoscience and mining engineering teams in Australia. Graham was a Federal Councillor of the Australian Institute of Geoscientists for 11 years and joined the Joint Ore Reserves Committee in 2014, where he is a member of the executive committee.
Paul Dunbar
MAusIMM
Principal, Valuation and Resource Management
Paul is an exploration geologist with over 25 years experience with a broad corporate and technical experience along with a strong economic evaluation and financial analysis background.
Leigh Slomp
FAusIMM(CP)
General Manager - Technical Services, Arcadium Lithium
Leigh is a senior resources industry professional with over 23 years of operational and management experience, including as Global Manager Resources and Exploration for ArcelorMittal Mining in London, where he also inaugurated and chaired the AusIMM UK Committee. Prior to that he was the Geology Manager at Atlas Iron in Western Australia, where he also worked in several senior leadership roles over a period of eight years.
Mr Slomp spent much of his early career in various roles across the WA mining industry, including with BHP Iron Ore in the Pilbara, at the Greenbushes Tin-Tantalum mine and the Cawse Nickel Laterite Project in Kalgoorlie. Mr Slomp is a Fellow of both the AusIMM and the Geological Society of London.
Mr Slomp spent much of his early career in various roles across the WA mining industry, including with BHP Iron Ore in the Pilbara, at the Greenbushes Tin-Tantalum mine and the Cawse Nickel Laterite Project in Kalgoorlie. Mr Slomp is a Fellow of both the AusIMM and the Geological Society of London.
Sue Border
FAusIMM CP(Ret)
Principal Advisor, Geos Mining
Sue has over 40 years experience in the mining industry, and has worked as a geologist in mining and exploration, as an exploration manager, university lecturer in geology and geostatistics, and as a consultant. She started and managed her own exploration consultancy, Geos Mining, which was sold in 2016, and is now their principal advisor.
Sue has used the Valmin Code since its inception, and has prepared many public independent technical reports and valuations using the Code, both as specialist and as representative specialist. She has conducted courses in China on the use of the Valmin and JORC Codes. Sue is currently a member of the AusIMM ethic committee.
Sue has used the Valmin Code since its inception, and has prepared many public independent technical reports and valuations using the Code, both as specialist and as representative specialist. She has conducted courses in China on the use of the Valmin and JORC Codes. Sue is currently a member of the AusIMM ethic committee.
Interview with Louis Rozman, past Chair of the VALMIN Committee
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Free template
Business case to attend
Getting approval to undertake a course can sometimes be a challenge. To assist you in putting together a compelling business case to your manager, we have prepared an email template. It’s easy to use – just copy, fill in the blanks and email to your manager.
Mark Berry, Geology and Mining Consultant
Mark explains who the Associate Certificate in VALMIN Code Reporting is suited to, who teaches the course, the importance of understanding the VALMIN Code, and the role the course plays in the resources sector.
Deb Lord, Chair of the VALMIN Committee; Principal, Valuation and Resource Management
Deborah Lord, a geologist with 30 years’ global experience in the resources sector and Chair of the VALMIN Committee, describes who the Associate Certificate in VALMIN Code Reporting will benefit.
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See what past participants are saying about AusIMM's Online Courses
Frequently asked questions
What are the technical requirements to participate in the course? i.e. do I need a webcam, microphone, etc?
The course will be run entirely online via a cloud-based Learning Management System (LMS) which can be accessed via computer, tablet or phone. Participants will simply need to have a working Internet connection and a computer, tablet or phone with sound to access the course.
How long will the course take?
The full course is estimated to take about 20 hours of learning. Participants will have access to the course platform for five weeks to complete all modules.
How often will the courses be run?
We aim to run two intakes each year.
Will the course be delivered in other languages?
At the moment, the course will only be delivered in English.
Does someone have to have a prequalification of years’ experience before they can do the course?
No, the course is designed for those working on the evaluation of mining and exploration assets, undertaking technical assessments that are components of economic evaluations (Scoping Studies, Pre-Feasibility Studies and Feasibility Studies) , or responsible for Public Reports that will include information about the evaluation of assets or valuation of securities should know the VALMIN Code. The VALMIN Code provides guidance on what should be included in such studies and how to prepare a Public Report that will comply with relevant laws.
How many PD hours do I receive for undertaking the course?
Participants can earn professional development (PD) hours for undertaking the course. One contact hour of technical content is equivalent to one PD hour.