An International Perspective On U.S. Minerals Appraisal Standards Development

Australia’s mineral valuation code continues to evolve, while mineral valuation standards are also being written for Canada and Southern Africa. The author is leading a task force for writing the extractive industries addition to the International Valuation Standards. Meanwhile, the International Accounting Standards Board is continuing the development of an extractive industries addition to its International Financial Reporting Standards, with an emphasis on valuation reporting. This paper analyzes the need, content and ownership for a U.S. minerals appraisal standard in the context of both these developing international standards and also existing U.S. regulations and appraisal standards. The author provides many questions for research and debate.