IMVAL (International Mineral Valuation Committee) was formed in 2012 by representatives of VALMIN, SAMVAL, CIMVal, SME, AIMA, and RICS representing mining valuation standards from Australia, South Africa, Canada, US and UK respectively. IMVAL was formed with the goal of harmonizing international standards for valuation of mineral properties. IMVAL was chaired by CIMVal of Canada. CIMVal was originally initiated and lead by Management and Economics Society of CIM, and is the Canadian Standards and Guidelines for Valuation of Mineral Properties.
The IMVAL TEMPLATE - International Standards for Valuation of Mineral properties
Concepts, principles and definitions were taken from three existing mineral valuation codes or standards (VALMIN for Australasia, SAMVAL for South Africa, and CIMVal for Canada) and aligned with those of the International Valuation Standards (IVS) to form the IMVAL Template. It is designed as a principles-based, high level document to guide and underpin national codes or standards. It is intended for it to have similar usage and stature as the CRIRSCO TEMPLATE for reserves and resources. It is important to note that the CIMVal Standards and Guidelines will continue to be the principal document for the valuation of mineral properties in Canada.