New guidelines for reporting of exploration results, mineral resources and ore reserves are almost out. The JORC Code 2012 will come into effect in December.
And mining consultancy group Coffey has come out with an online tool to help companies understand their reporting requirements under the new guidelines.
The tool provides a self-assessed, confidence-level audit on a project-by-project basis to see if a company is compliant to the new guidelines.
Coffey’s general manager of mining in Western Australia John Hearne said: “We’ve developed a quick and easy online tool to provide a way for most companies to immediately understand their exposure under JORC Code 2012.
“An in-house executive committee, for example, would then have the option of engaging with Coffey’s independent technical teams to verify their internal assessments, provide independent recommendations, and judge fully the implications on their current reporting.”
Hearne added businesses may be aware of changes under new guidelines but they may not understand what the implications are for the business.
The online tool will provide immediate information on their position, he said.
The new guidelines could affect a company’s assets and decisions of those who audit and value those assets. Companies will be giving more information investors on the underlying material assumptions of their resources.
The health check tool will assist board members and others in understanding compliance with the revised code.
“It’ll assist decision-making for both technical and non-technical stakeholders,” Hearne said.
Visit jorc2012healthcheck.coffey.com for the health check tool.