Mining companies seeking to report resources and reserves face a bewildering choice of reporting codes. Included among them are CRIRSCO, JORC, NI43-101, SME Guide and NAEN Mineral reporting codes. According to the CRIRSCO website, CRIRSCO was “formed in 1994 under the auspices of the Council of Mining and Metallurgical Institutes (CMMI), is a grouping of representatives of organisations that are responsible for developing mineral reporting codes and guidelines in Australasia (JORC), Brazil (CBRR), Canada (CIM), Chile (National Committee), Colombia (CCRR), Europe (PERC), Indonesia (KOMBERS _ KCMI), Kazakhstan (KAZRC), Mongolia (MPIGM), Russia (NAEN), South Africa (SAMREC), Turkey (UMREK) and the USA (SME).” The Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves, or the JORC Code, is a professional code of practice that “sets minimum standards for Public Reporting of minerals Exploration Results, Mineral Resources and Ore Reserves” and was first published in 1989. A comparable code from Canada is National Instrument 43-101, a national instrument for the Standards of Disclosure for Mineral Projects. The different reporting codes are used for public disclosure, which is simple and understandable for the investors community.
Tania Ilieva, a Senior Geologist at Micon International Limited will be presenting on the question of choice of reporting code at MINEX Europe 2019 on 25-27 June 2019.