Project of the new RF Classification of reserves and possible resources of solid commercial minerals is prepared and submitted to RF Ministry of Natural Resources for approval. During the development of the project, representatives of the entire geological community, business, subsoil users, as well as government institutions of our country were involved in its discussion. The prepared project of new classification is the embodiment of the constructive proposals of all participants of three-years long discussion (2014-2017). Further approval of the document across agencies is not yet completed. Today, Russia has already taken an important step towards the integration of its mining capital structure with major international markets by joining CRIRSCO. Based on the CRIRSCO Template (The International Template for Reporting of Exploration Results, Mineral Resources and Mineral Reserves), the Russian National Code (NAEN Code) was developed, which is not in demand today due to the fact that the key differences between the Russian reporting system and the reporting systems of other CRIRSCO participants remain unresolved. In the CRIRSCO system, only a portion of the mineral resources for which development and production parameters are defined taking into account loss and dilution is considered as reserves. In the case the information for assessment of expected dilution or loss is not detailed enough, the estimated amount of solid commercial minerals in the subsurface can only be reported as “resources”. Equivalent to CRIRSCO reserves in the Russian reporting system are “mineable reserves”, i.e., commercial or economic reserves of the proven fields, which are determined making allowance for loss and dilution, and considered in Feasibility Study for Setting Ore Standards. With the introduction of the new classification of solid commercial mineral reserves, the differences will be eliminated and the Russian reporting system will be fully harmonized with the reporting of the CRIRSCO family.