Mutual Reliance Review System for ExemptiveRelief Applications - relief from the requirement that the authorof a technical report be a member of a "professional association"in order to be considered a "qualified person".
National Instruments Cited
National Instrument 43-101 - Standards of Disclosurefor Mineral Projects, 2001 24 OSCB 303, ss. 1.2, 2.1 and 5.1.
IN THE MATTER OF
THE SECURITIES LEGISLATION OF
ONTARIO, ALBERTA, MANITOBA, QUEBEC,
NEW BRUNSWICK, PRINCE EDWARD ISLAND,
NOVA SCOTIA AND NEWFOUNDLAND AND
IN THE MATTER OF
THE MUTUAL RELIANCE REVIEW SYSTEM
FOR EXEMPTIVE RELIEF APPLICATIONS
IN THE MATTER OF
MRRS DECISION DOCUMENT
WHEREAS the local securities regulatoryauthority or regulator (the "Decision Maker" and collectively,the "Decision Makers") in each of Ontario, Alberta,Manitoba, Québec, New Brunswick, Prince Edward Island,Nova Scotia and Newfoundland and Labrador (the "Jurisdictions")has received an application (the "Application") fromBoliden AB (the "Corporation") for a decision underthe securities legislation of the Jurisdictions (the "Legislation")that: (1) the Corporation is exempt from the requirement containedin National Instrument 43-101 ("NI 43-101") that theauthor of a technical report or other information upon whichdisclosure of a scientific or technical nature is based be amember in good standing of a professional association in orderfor the author to be considered a "qualified person"as defined in NI 43-101 (the "Membership QualificationRequirement"); and (2) the Corporation is exempt from therequirement contained in the Legislation to pay a fee in connectionwith the Application (the "Application Fee Requirement");
AND WHEREAS under the Mutual RelianceReview System for Exemptive Relief Applications (the "System"),the Ontario Securities Commission is the principal regulatorfor this application;
AND WHEREAS the Corporation representedto the Decision Makers that:
1. The Corporation is a company governed bythe Swedish Companies Act (1975:1385).
2. The Corporation's head office is locatedin Sweden.
3. The Corporation is a reporting issuer orthe equivalent in each of the Jurisdictions and is not in defaultof any requirement of the Legislation.
4. The Corporation's securities are listed fortrading on the Toronto and Stockholm stock exchanges.
5. The Corporation and its subsidiaries (the"Boliden Group") are engaged in mining, processingand selling metals and mineral products, principally zinc andcopper, with operations in Sweden and Canada. The Boliden Groupis also engaged in the fabrication and sale of copper tubingand brass products with production facilities in Belgium, theNetherlands, Sweden and the United Kingdom.
6. Mati Sallert, Resources Manager - MiningOperations and Qualified Person of the Corporation, is a memberof the Society for Mining, Metallurgy and Exploration (a membersociety of the American Institute of Mining, Metallurgical andPetroleum Engineers) and the Association of Geoscientists ofOntario ("AGO") with over 30 years of experience asa mining engineer. AGO was a "professional association"as defined in NI 43-101 until February 1, 2002.
7. AGO is being replaced in Ontario by the Associationof Professional Geoscientists of Ontario ("APGO").APGO is a "professional association" as defined inNI 43-101.
8. Mati Sallert has applied to become a memberof APGO and would be a "qualified person" as definedin NI 43?101 except only for not yet being a member in goodstanding of a "professional association".
AND WHEREAS under the System, this MRRSDecision Document evidences the decision of each Decision Maker(collectively, the "Decision");
AND WHEREAS each of the Decision Makersis satisfied that the test contained in the Legislation thatprovides the Decision Makers with the jurisdiction to make theDecision has been met;
THE DECISION of the Decision Makersunder the Legislation is that the Corporation is exempt fromthe Membership Qualification Requirement and, except in Quebecand Newfoundland, the Application Fee Requirement in connectionwith the technical reports or other information prepared byMati Sallert provided that:
1. Mati Sallert complies with all other elementsof the definition of "qualified person" in NI 43-101;and
2. the relief granted in this Decision Document shall terminateon the earlier of: (1) the date Mati Sallert becomes a memberof APGO or is advised that his application for membership toAPGO has been denied; and (2) February 1, 2003.
May 30, 2002.