WEB notes; 2021 JORC REVIEW process.

On the 18th August 2021, the AusIMM presented the “International Webinar Series/ Asia Pacific” as part of a new initiative to communicate more directly with the Institutes international members. The webinar was introduced by past president Janine Herzig. She gave a typical Australian centric introduction to the 160 registered attendees. The webinar was held in English, designed to share knowledge, and emphasize the upholding of international standards. The webinar was presented by Steve Hunt with the title “Update of the JORC Code and international implications”. The following are some selected notes.

The diverse Joint Ore Reserves Committee and its stakeholders are to be part of the 2012 JORC Code review process that comprises the steps of 1) preliminary engagement, 2) working groups, 3) draft and review and 4) formal approval from Minister. Analysis of the AusIMM stakeholder survey of Dec 2020 to April 2022 was presented on stakeholder participation, experience of respondents, and factors relating to the code that were consolidated to produce key areas for review. The principal working groups are 1) Reasonable prospects for eventual extraction test (RPEEE), 2) Definition of Competent Person, 3) Additional information on Environment, Social, Technical and Governance on Ore reserves. Other working groups include 4) reporting risks, 5) reconciliation performance, 6) guidance notes, 7) use of JORC code for nonreporting purpose, 7) relationship of ASX listing rules and/or to other codes, 8) other issues. The schedule of activities is to have the working groups active from July- Dec 2021, with draft code review process in the 4th quarter 202, with final draft mid-2022, and there after Ministerial approval – possibly after next federal elections in Australia (2022). The review committee is open to further input via the Project Manager – JORC Review at [email protected]

Q&A

There was an oversubscription for members to join the various working groups, and those who do not make it onto a working group may be called upon to assist from time to time, where appropriate. ?Each working group will have about 8 members, chosen from volunteers with appropriate experience in the specific working group topic, and outside specialists (lawyers, professors etc) may be called upon to contribute. Apparently, the working groups will not be determined by sex, location, character of company employment, or other non-technical factors. The working groups will meet every 10 days, so commitment is important. The names and affiliations of the working groups, and their group work will be confidential. It is understood from the outset that not all factors will find agreeable outcomes, but much effort will be to get the right balance between the diverse interest of the stakeholder groups.

There is some intention to include further consideration for the international CRIRISCO code, and other international governments & stock exchange reporting trends.

There was encouraging support to leave the “self-declared competent person” behind, and develop a recognized “Competent Person” status. That should be pleasing for many international members, and various international mines departments, stock exchanges etc.?