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VLD · SCOPE IIIArea of practice
III.

Natural Resources

We verify the substance of the resource, not the expectation around it.

What we verify

01

Reserves and geological reports

What the report claims confronted with the method that produced it — sampling, certification, technical lead.

02

Licensing and regularity

Mining rights, environmental licenses and the conditions attached to each title.

03

Exploitation plan

The declared economic viability against verifiable cost, logistics and market assumptions.

04

Liabilities and contingencies

What the asset carries with it: embargoes, legal proceedings, commitments — named before pricing.

05

Reserve category

Measured, indicated or inferred: the category declared against the method that supports it.

06

Environmental conditions

What the license requires and what is demonstrably met.

07

Logistics and outflow

The product's path to the buyer, costed, not presumed.

08

Community and surface

Surface rights, easements and agreements that the title does not replace.

Natural Resources23
The land seen from above — the substance of the resource is measured, not estimated forever.

Criteria and references

Public references, cited as a verification criterion — not as a certification.

Decreto-Lei 227/1967↗

Código de Mineração (Mining Code).

Lei 13.575/2017↗

Agência Nacional de Mineração (ANM).

Lei 6.938/1981↗

Política Nacional do Meio Ambiente (National Environmental Policy); licensing.

Normas Reguladoras da Mineração (Mining Regulatory Standards, NRM)

CBRR Guide / CRIRSCO family

Declaration of resources and reserves; JORC, NI 43-101.

Economic Exploitation Plan (PAE)

A finding, from the inside

Illustrative example · does not refer to any real development

VLD · OPINION No. ——— · date ———

Claimed"Measured reserve."

Evidence examinedreport confronted with the sampling method, the technical lead's certification and the current mining title.

StateAssumed while the method is not reproducible; Verified the title and the conditions.

Caveata reserve is an estimate with a declared method — the opinion classifies the method, it does not guess the subsurface.

Assumed

Warning signs in this area

What helps you get to the scope

You do not need to have everything. Knowing what is missing is also part of the scope.

Questions for this area

Does Valida certify reserves?

No. It verifies whether the declared category is supported by the method and by the technical lead who produced it, according to the code cited. Certification belongs to whoever signs the report.

Does it apply to small deposits?

It applies to any object with a bounded question.

And the previous owner's environmental liability?

It enters the scope when the title carries the obligation. It usually does.

VLD · METHOD

The journey of the opinion

Phase 01

Scope

We delimit the object, the applicable criteria and the independence boundary.

Phase 02

Evidence

Collection and examination of primary data, documents and direct observation.

Phase 03

Analysis

Confrontation between what is claimed and what is proven, with reality-checks and cross-referencing of sources.

Phase 04

Opinion

A substantiated report, with explicit caveats — reproducible by a third party.

"Every claim comes out classified: verified or assumed."

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