NACRI has been responsible for training the Registered Competent Person (RCP) and imparting a 40-hour mandatory training on IMIC and Code of ethics, with the active support and participation of MEAI. The faculty for the IMIC training are drawn mainly from the NACRI but also invite domain experts on specialized topics, wherever necessary.

Till now, four such training programs (Three online and one in-person) were conducted by NACRI from MEAI Headquarters, Hyderabad. NACRI has been planning to impart onsite IMIC training at some of MEAI’s 27 Chapters that are located at the major mining hubs in the country.

MEAI/ NACRI is looking forward to the funding support from the Indian government in successfully training the mineral industry professionals on IMIC & Code of ethics to upgrade their skills and make them eligible as RCPs. Hitherto, most of the faculty from NACRI have been extending their services voluntarily without seeking any remuneration. Only the travel and accommodation expenses of the faculty have been supported.

NACRI agreed to undertake the proposed mapping exercise in association with the author(s) of the concerned GSI/ MECL GR report or independently, identify the problems faced in mapping, and suggest robust procedures leading to successful adoption of IMIC by the government.

However, NACRI cautions that the MEMC compliant GRs are not amenable, in principle, for mapping to IMIC compliant Exploration Results, Mineral Resources and Reserves, for the following two reasons:

1. a. The “Mineral Resource definition” incorporated in the MEMC Rules, 2021 do not satisfy the elementary rule, “Reasonable prospects for eventual economic extraction”, which is fundamental to Mineral Resource definition under IMIC.
2. b. MEMC, 2021 compliant reports (GR) are not prepared by Competent Persons with the necessary minimum educational qualification and the type of experience. Moreover, the author(s) of the GR are not governed by an enforceable Code of ethics. However, the author(s) should be an RCP to prepare the IMIC compliant Exploration Results, Mineral Resources and Mineral Reserves reports.

IMIC and UNFC/ MEMC systems are complementary to each other but not competitors. So, the government may adopt the usage of UNFC, 2019 for maintaining NMI by IBM. Simultaneously, the government may also recognise IMIC as the reporting code in India for Exploration Results, Mineral Resources and Reserves to bring in transparency and thereby attract FDI / private investments. The same may be notified to SEBI in protecting the investors’ interests.

It is essential that the mineral industry communicates the risks associated with investment effectively and transparently in order to earn the level of trust necessary to underpin its activities. To address the concerns of stakeholders, NACRI recommends to disclose the Exploration results, Mineral Resources and Mineral Reserves in India as suggested below:

• The ‘LISTED’ Indian exploration/ mining companies in the INTERNATIONAL stock exchanges may continue disclosing the Exploration results, Mineral Resources and Mineral Reserves reports as per the Stock Exchange-Specific CRIRSCO compliant reporting standard(s), including IMIC. The IMIC compliant reports may then be captured directly into NMI though a CRIRSCO and UNECE approved bridging document that is already in place. This suggestion may be implemented from the day the government approves IMIC implementation in India as these companies are fully equipped.
• The ‘UNLISTED’ large exploration/ mining companies in India that have high potential for listing in the near future in INDIA shall disclose the Exploration results, Mineral Resources and Mineral Reserves reports as per IMIC. The IMIC compliant reports may then be captured directly into NMI though a CRIRSCO and UNECE approved bridging document that is already in place. This suggestion may be implemented within a year from the day the government approves IMIC implementation in India.
• The ‘UNLISTED’ medium and small exploration companies/ Organisations/ mining companies in India that are not intending to list in the Indian stock exchanges in near future, may disclose the Exploration results, Mineral Resources and Mineral Reserves as per IMIC or UNFC-2019. The IMIC compliant reports may then be captured directly into NMI though a CRIRSCO and UNECE approved bridging document that is already in place. This suggestion may be implemented within a year from the day the government approves IMIC implementation in India.
• The GEOLOGICAL REPORTS prepared by the exploration agencies such as GSI, MECL, and others, specifically intended for mineral blocks ‘AUCTIONING’ in India, may disclose the Exploration results, Mineral Resources and Mineral Reserves as per IMIC and also as per UNFC-2019, if felt necessary. NACRI would be willing to augment the government’s efforts in presenting these reports to prospective bidders transparently in an easy-to-understand language and simple Resources/ Reserves terminology. This suggestion may be implemented within 3 months from the day the government approves IMIC implementation.

1. Planning and propagating the IMIC training to a large number of professionals serving the Indian mineral industry - by NACRI,
2. Strengthening RCP certification process of those IMIC trained professionals that meet other certification requirements - by MEAI, and
3. Identification and organization of appropriate faculty (Indian as well as overseas faculty from other NROs with the support of CRIRSCO) - by NACRI.