Welcome To Komite Cadangan Mineral Indonesia
Komite Cadangan Mineral Indonesia (KCMI) / Indonesian Joint Committee for Mineral Reserves
Komite Cadangan Mineral Indonesia (KCMI) is a committee that is responsible for the development, updating and socialization of the KCMI Code. KCMI members consist of representatives from Association of Indonesian Mining Professionals (PERHAPI), Indonesian Association of Geologists (IAGI), Ministry of Energy and Mineral Resources of the Republic of Indonesia (Directorate General Mineral and Coal and Geological Agency Indonesia Bureau of Geology) and Indonesia Stock Exchange.
Kode Komite Cadangan Mineral Indeonesia (KCMI Code) is a professional code that is being used as guidelines for Public Reporting of mineral and coal Exploration Results, Resources and Reserves. Early exploration activities until infrastructure development, production expansion and mining acquisition need sources of funds. The basis for external investors or internal shareholders of mining companies to provide funds is the status of resources and reserves that reflect investors' expectations and confidence in the possible return on investment and asset growth. In order for investors to make a balanced judgement in the framework of provision of funds or investment, the status of resources and reserves must be based on accurate and credible reporting.
The KCMI Code was inaugurated for the first time in September 2011 through the KCMI National Convention. The 2011 KCMI Code has been revised at the end of 2017 with the launch of the 2017 KCMI Code. This new code issuance is to coincide with KCMI's reception as the eleventh member of the CRIRSCO (Committee for Mineral Reserves International Reporting Standards) on the 31st of October 2017 in Annual CRIRSCO Meeting at Yogyakarta.
Since its first publication in 2011 the recognition and acceptance of the KCMI Code has been widespread. The Indonesia Stock Exchange (IDX) in Regulation I-A.1, effectively from the 1st of November 2014, acknowledges the statement of mineral reserves signed by Competent Person Indonesia (CPI) working under the KCMI Code; where the statement of reserves is used as the basis for mining companies that intend to list their shares on the Indonesia Stock Exchange.
Director General of Coal and Mineral, Ministry of Energy and Mineral Resources of the Republic of Indonesia, in his decree No. 569DJB / 2015 requires that since April 2017, the reporting of exploration results, resources and mineral reserves shall refer to the KCMI Code and be signed by CPI.