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The National Instrument 43-101 requires substantially more technical disclosure to the market than the equivalent JORC Code, because the JORC Code is primarily a code for reporting the status of a mineral resource, whereas NI 43-101 is a code of securities disclosure. This distinction is based on the derivation of the two codes: the JORC Code ...
There are several classification systems for the economic evaluation of mineral deposits worldwide. The most commonly used schemes base on the International Reporting Template, [1] developed by the CRIRSCO – Committee for Mineral Reserves International Reporting Standards, like the Australian Joint Ore Reserves Committee – JORC Code 2012, [2] the Pan-European Reserves & Resources Reporting ...
The JORC [5] Code was first published in 1989, with the guidelines published in 1990. During the 1990s, it became clear that the evaluation of mineral deposits should be based on an internationally recognised code of reporting in order to improve the security of investments in this economic sector (e.g. Bre-X case).
He noted that Chinese reporting standards differ from global frameworks like Canada's NI 43-101 and Australia's JORC code, making independent verification necessary.
In Canada, the National Instrument 43-101 report details requirements of reporting mineralized findings. In Australia, the Joint Ore Reserves Committee Code ( JORC Code ), and South Africa mandates the South African Code for the Reporting of Mineral Resources and Mineral Reserves ( SAMREC ).
The SAMCODES currently comprise three codes, namely SAMREC: The South African Code for the Reporting of Exploration Results, Mineral Resources and Mineral Reserves (2016); SAMVAL: The South African Code for the Reporting of Mineral Asset Valuation (2016); and SAMOG: The South African Code for the Reporting of Oil and Gas Resources (2015).
Classification and management of natural resources such as minerals and petroleum are classified using differing schemes. [4] [5] In 1997, UNECE published the United Nations Framework Classification for Reserves and Resources of Solid Fuels and Mineral Commodities (UNFC-1997) as a unifying international system for classifying solid minerals and fuels. [6]
Other codes that relate to the reporting of mineral resources and reserves and their valuation include Canada’s NI43-101 Code and Cimval Code [15] and Australia’s Joint Ore Reserves Committee (JORC) Code [16] and Valmin Code.