The Australasian Joint Ore Reserves Committee (JORC) has an online survey seeking comment ahead of the 2021 review and update of the JORC Code. Submissions are open online at www.jorc.org/code-update.asp until 12 February 2021.
The survey is the next step of the review process and will be followed by a summary issues paper to be circulated at the end of April 2021. Further industry feedback will then be sought before finalisation of the updated code.
The JORC Chair, Steve Hunt, noted that the Committee would normally have started the periodic review of the JORC code with public meetings of JORC stakeholders, though as with many things in 2020, this has not been possible due to the COVID-19 pandemic impacts.
“The survey allows us to start receiving feedback from various stakeholders and to plan for more direct engagement in early 2021 as restrictions ease,” Mr Hunt said.
The Code was last updated in 2012 and there are a number of areas where industry, regulator and public expectations have evolved since then.
Importantly, the key focus of the Code remains to provide principles-based disclosure transparency for investors and potential investors in the mining and exploration markets.
The update survey is open to individuals, companies and other stakeholder groups to provide feedback on the JORC Code including their views on specific areas for review, improvement or alignment within the Code.
President of the Australian Institute of Geoscientists (AIG), Andrew Waltho, encouraged all members involved in mineral exploration, resource evaluation and both mineral resource and ore reserves estimation to contribute to the survey.
“Professional geoscientists are critically important stakeholders whose voices need to be heard during the JORC Code review and update process,” Mr Waltho said.
“There is unprecedented interest globally, particularly amongst business and securities regulators, in codes of practice for public reporting of exploration results, mineral resources and ore reserves,” he said. “Australia is no exception.”
“The JORC Code update provides exploration and mining professionals an opportunity to contribute to the continued development of the code and helping to ensure that JORC and Australia retain a lead role in setting standards of professional practice in this field,” he said.
Mr Waltho stressed the importance of the code update process and urged AIG members to contribute, both individually and through their employers prior to the survey closing date of 12 February 2021.
All information provided through the survey will be managed and used in accordance with this privacy statement and policy.
