What is (and what is not) a Competent Person

The reliability of a resource or reserve report does not depend on the contracting party, but on the person who signs it, with a recognized name and professional registration. Reporting codes – JORC, NI 43‑101, and S‑K 1300 – require this signature to be provided by a Competent Person (CP) or Qualified Person (QP), whose technical responsibility is individual and personal. Understanding who can assume this responsibility, how the qualification is verified, and the consequences of the absence of a name in the documentation is essential for investors, operators, and regulatory bodies that demand transparency and traceability in mineral studies.

1. The credential is personal, never the property of the company that commissioned the study#

The definition of Competent Person in the JORC Code 2012 (clause 11) and Qualified Person in North American standards establishes that the credential belongs to the individual who signs the document. This separation prevents responsibility from being diluted between the contracting company and the technical consultant, ensuring that the evaluator maintains independence and is identifiable. In practice, the report must contain the full name, professional association registration number, and the electronic or handwritten signature of the CP/QP.

The requirement for individuality also serves as an internal control mechanism within consulting organizations. Each professional must maintain their registration active and in good standing with the professional entity, which allows third parties – investors or authorities – to verify eligibility by consulting the databases of recognized associations. If a company attempts to conceal the identity of the responsible party, the document may be considered non-compliant with reporting standards.

Furthermore, personal attribution creates a direct link between the quality of the analysis and the professional's reputation. The loss or suspension of a CP/QP's credential has an immediate effect on all reports signed by them, requiring the revision or withdrawal of documents containing their signature, as provided for in the self-regulation rules of recognized organizations.

2. The minimum criterion: five years of experience in the type of deposit in question#

Both JORC and NI 43‑101 establish, as a basic requirement, a minimum period of five years of practical experience in the type of mineral deposit being evaluated. This requirement aims to ensure that the professional possesses sufficient knowledge of the geological, modeling, and economic evaluation particularities specific to the deposit.

Experience must be documented in completed or ongoing projects, with proof of direct involvement in exploration phases, resource definition, or reserve estimation. Experience records are typically audited through employer statements, certificates of completion for specific courses, and a history of technical publications.

When the deposit presents atypical characteristics – for example, cross-cutting mineralizations or multiple deposit systems – the five-year count may require proof of experience in analogous, though not identical, geological environments. This flexibility is implicit in the guidelines of recognized organizations, which evaluate the relevance of the experience in relation to the scope of the study.

3. Professional affiliation with disciplinary power: what this means in practice#

Affiliation with a recognized entity – AusIMM, AIG, or another Professional Organisation recognized by JORC – implies that the professional is subject to a code of conduct and disciplinary processes. In practice, this means that the association has the authority to investigate allegations of professional misconduct, impose sanctions, and, if necessary, revoke the member's credential.

An illustrative example: imagine a mineral resource study that, after publication, reveals significant inconsistencies in tonnage estimates. The professional's association receives a complaint from an investor and initiates an internal audit. If deliberate omission of critical data is found, the CP may be suspended or excluded from the association, which would invalidate all reports signed by them until the situation is regularized.

The existence of disciplinary power reinforces the confidence of third parties by allowing for the effective accountability of the CP/QP. Associations maintain public registers of members in good standing, facilitating verification by investors, banks, and regulatory agencies. Thus, affiliation is not merely symbolic; it constitutes the governance mechanism that underpins the credibility of resource and reserve reports.

4. How Brazil addresses this: the Qualified Professional of the CBRR Guide#

In the Brazilian context, the Brazilian Commission for Resources and Reserves (CBRR) established the concept of Qualified Professional (QP) through the CBRR Guide, aligned with the CRIRSCO standard. The QP registration requires compliance with the same experience and professional affiliation criteria provided for in international codes, in addition to specific national registration requirements.

1. Gather supporting documentation – project history, course certificates, and employer statements.
2. Request registration with the CBRR – completion of an electronic form and payment of an application fee.
3. Attach proof of affiliation – association with a recognized entity (e.g., AusIMM, AIG, CREA).
4. Submit for CBRR evaluation – analysis of experience, verification of standing with the association, and validation of disciplinary records.
5. Obtain national registration number – the professional is listed in the CBRR database as a Qualified Professional.
6. Maintain active registration – annual update of information, payment of annual fees, and fulfillment of continuing education requirements.

The process ensures that the Brazilian professional is aligned with global requirements while creating a local monitoring mechanism, allowing regulatory bodies to consult the QP's registration status at any time.

5. What changes when the name of the signatory does not appear#

The omission of the CP/QP's name in the report generates direct consequences for the document's acceptance by reporting standards and capital markets. Without the identification of the technical responsible party, the study does not comply with JORC clause 11 or NI 43‑101 section 1.1, which may lead to rejection by stock exchanges, financing banks, and institutional investors.

In addition to formal rejection, the absence of a signature hinders the traceability of responsibility. In the event of a subsequent review or audit, there is no one legally responsible for validating or contesting the data presented, increasing the risk of litigation and financial losses for shareholders or debt holders linked to the project.

Therefore, the presence of the CP/QP's name, registration number, and signature is not optional; it is an essential requirement for regulatory compliance and market risk mitigation. The practice of omitting this information compromises the credibility of the study and may cause delays in obtaining permits, financing, or negotiating mineral assets.

In summary, the definition of Competent Person or Qualified Professional is structured around a personal credential, minimum experience, affiliation with entities with disciplinary power, and national registration where applicable. Each of these elements ensures the traceability, technical quality, and accountability necessary for resource and reserve reports to be accepted globally. Strict compliance with these requirements allows investors and regulators to rely on the disclosed figures, reinforcing transparency and security in mineral sector transactions.

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