Russian Society of Experts on Subsoil Use: Decisions of the Supervisory Board of NAEN

December 02, 2025, Moscow, IMET RAS

Table of contents

• Meeting of the NAEN Supervisory Board in IMET RAS
• HERN status and historical continuity
• NAEN-RPO model as NRO-RPO
• Updating the regulatory framework of the NAEN-OERN system
• NAEN Ethics Committee and Disciplinary Circuit
• The role of IMET RAS as a scientific pillar
• Significance of solutions for the industry and capital market

Meeting of the NAEN Supervisory Board in IMET RAS

A meeting of the Supervisory Board of the Association of Organizations in the field of subsoil use was held in Moscow at the Baikov Institute of Metallurgy and Materials Science of the Russian Academy of Sciences (IMET RAS). «National Association for Subsurface Expertise» («NAEN»). The meeting was devoted to the key issues of development of the national system of public reporting on the results of geological exploration, resources and reserves of solid minerals.

Items on the agenda for the meeting included:

• status confirmation Russian Society of Subsoil Use Experts (OERN) in the NAEN-OERN system;
• model consolidation «national public reporting organization (NRO) is a recognized professional organization (RPO)» for the Russian Federation;
• launch of the update of the internal regulatory base of NAEN-OERN;
• Defining the role of the NAEN Ethics Committee as the disciplinary body of the system.

The meeting was chaired by Mr. Sergey Glazyev, State Secretary of the Union State, Chairman of the Supervisory Board of UNAES. Representatives of Rosnedra, FBU «GKZ», major oil and gas and mining companies, as well as scientific and expert community took part in the work. Thus, it was confirmed that the system NAEN-OERN is a valid tool for government, business and investors, not a formal construct on paper.

HERN status and historical continuity

The central outcome of the meeting was the official reaffirmation of the historical status of the Russian Society of Subsoil Use Experts. The Supervisory Board recognized that OERN since 2007 has been functioning as a professional community of experts in the field of subsoil use, formed with the direct participation of FBU «GKZ» and NAEN.

In the decisions of the Supervisory Board, it is stated that the OERN shall be by an internal body of NAEN, rather than an independent external legal entity. Historically, the Company's activities have been focused on:

• consolidation of leading specialists in the field of subsoil use expertise;
• development of Competent Persons and training;
• methodological support for the application NAEN Code. and standards of the CRIRSCO family.

For the market, this means an unambiguous brand tie-in «Russian Society of Subsoil Use Experts» to the NAEN-OERN system, decisions of Rosnedra, FBU «GKZ» and CRIRSCO international committee. OERN is not a random club of specialists, but a structural element of the national public reporting system on the results of geological exploration, resources and reserves of mineral raw materials.

As a result, the Supervisory Board has formulated the following architecture for the Russian public reporting system:

• NAEN - the only national public reporting organization of the Russian Federation (National Reporting Organization, NRO) in the CRIRSCO system and within the framework of the application of the NAEN Code;
• Russian Society of Subsoil Use Experts (OERN) - NAEN's internal body that performs the functions of a Recognized Professional Organization (RPO);
• NAEN Code - national standard of public reporting on exploration results, resources and reserves of TPI, compatible with the CRIRSCO template and recognized by international regulators.

NAEN-RPO model as NRO-RPO

The decisions of the Supervisory Board specifically emphasize that NAEN performs the functions of the sole NRO of the Russian Federation in the CRIRSCO system. Russian Society of Subsoil Use Experts operates within NAEN and acts as a professional organization (RPO) uniting experts and competent persons.

This two-tier model is fully consistent with CRIRSCO's basic documents and the principle of «one country - one NRO». The National Organization for Public Accountability is responsible for:

• development and support of a national standard - the NAEN Code;
• methodology and interaction with regulators and CRIRSCO;
• updating standards in line with international practice.

Professional organization OERN provides:

• formation of a professional community of experts and competent persons;
• Maintaining a roster of NAEN-OERN experts and competent persons;
• practical application of the NAEN Code in the public reporting of companies.

For Russian issuers disclosing information on solid mineral deposits on international capital markets, this ensures continuity of the NAEN Code and comparability of reporting with the requirements of CRIRSCO-compliant standards. For government authorities, financial institutions and investors, the confirmed status of NAEN as NRO and OERN as RPO means that project due diligence is embedded in the CRIRSCO-compliant standards. state contour of mineral resource base management.

Updating the regulatory framework of the NAEN-OERN system

The second key block of the Supervisory Board's decisions concerns the comprehensive updating of the internal regulatory framework NAEN-OERN. The Director of UNAEN is entrusted to ensure that the updated versions of the following documents are approved in due time:

• Regulations on the Russian Society of Subsoil Use Experts (OERN) with fixing its status as an internal body of NAEN;
• Provisions on membership in OERN and Provisions on OERN experts;
• NAEN-OERN Code of Professional Ethics of Expert and Competent Person;
• Regulations on the competent persons of NAEN-OERN and Regulations on the certification of experts and competent persons;
• Provisions on the Register of OERN experts and competent persons of NAEN-OERN (Public Register);
• Provisions on Branch Sections, Board and Executive Committee of OERN;
• Provisions on the Committee on Standards and Methodology of OERN;
• Regulations for the Learning and Development (CPD) Committee of the OERN.

These documents form a unified regulatory system, which:

• establishes criteria for membership in the OERN and status of experts;
• regulates the requirements for competent persons, their certification and renewal of status;
• introduces a single NAEN-OERN Roster of Experts and Competent Persons;
• links expert qualifications to Continuing Professional Development (CPD) and disciplinary practice.

A decision was made to post the updated documents on the official resources of NAEN and OERN. The open publication of regulations and procedures makes the NAEN-OERN system transparent and manageable for all market participants: from subsoil users and consultants to regulators and investors.

NAEN Ethics Committee and the disciplinary circuit of the system

The Supervisory Board reviewed the status of the NAEN Ethics Committee (Disciplinary Committee). It was confirmed that the Committee was established by orders of UNAEN and operates on the basis of its own Statute, roster of candidates and rules of formation of temporary panels.

His areas of expertise include:

• NAEN members;
• members of the Russian Society of Experts in Subsoil Use;
• experts and competent persons included in the NAEN-OERN registers.

The decisions of the Ethics Committee are binding for the OERN bodies, the Attestation Commission and other structures of the NAEN-OERN system. They directly affect:

• OERN membership status;
• expert and competent person status;
• the right to sign public reports on to the NAEN Code.

Thus, the NAEN-OERN system is given its own «quality regulator» within the professional community. Violations of standards, conflicts of interest and unfair behavior become the subject of institutional review with the possibility of applying measures up to suspension or termination of the competent person's status.

The role of IMET RAS as a scientific backbone of the expertise system

Holding a meeting of the NAEN Supervisory Board at the NAEN site IMET RAS is of fundamental importance. The A.A. Baikov Institute of Metallurgy and Materials Science is one of the leading scientific centers in the field of metallurgy and new materials directly related to the tasks of deep conversion and technological sovereignty.

The choice of this site emphasizes that the NAEN-OERN system relies not only on regulators and business, but also on a cutting-edge scientific school. This opens up additional opportunities:

• joint projects for the evaluation of complex raw material and technological objects;
• expertise of projects focused on new materials and deep remodeling;
• taking into account the requirements for future technological modes when estimating reserves and resources.

Significance of the Supervisory Board's decisions for the industry and the capital market

The minutes of the NAEN Supervisory Board of December 2, 2025 put the NAEN-OERN system into a new mode of operation. For the industry and the capital market, the consequences of the decisions can be grouped into several key blocks.

1. institutional certainty and succession

Strengthening the status of NAEN and OERN

The status of the UN «NAEN» as the only national public reporting organization (NRO) and the status of the Russian Society of Subsoil Use Experts as a professional community within NAEN are formalized by the supreme governing body of the Association. The historical continuity of the OERN since 2007 is documented, which eliminates uncertainty for subsoil users, regulators and investors.

2. Current regulatory framework and public register of competent persons

Transparent rules and digital openness

Large-scale updating of regulations and rules, creation and maintenance of a single NAEN-OERN Roster of Experts and Competent Persons ensure transparency and predictability of qualification and reporting requirements under the NAEN Code. Companies have clear access to competent persons and regulators have verifiable information on the status of experts.

3. ethical and disciplinary control within the professional community

Confidence in expert opinions

The functioning of the NAEN Ethics Committee in conjunction with the Russian Society of Subsoil Use Experts forms an intra-industry standard of behavior and responsibility comparable to the best practices of professional associations of leading mining jurisdictions. Violations of standards and ethics do not remain an internal matter of individual organizations, but become the object of systematic review.

Taken together, the decisions taken entrench the NAEN и Russian Society of Subsoil Use Experts the role of supporting infrastructure for the Russian system of public reporting on reserves and resources - from geological exploration and licensing to attracting investments and listing on stock exchanges. For the government it is a tool for long-term management of the mineral resource base, for business it is a reliable reporting framework, and for investors it is an indicator of transparency and comparability of information on raw material assets.