AIG has prepared a response to the review of the Australian Guidelines for the Estimation and Classification of Coal Resources which recommends that the guidelines should be published as a guide to sound practice for the coal industry but should not be considered to be a standard for public reporting of coal resources and reserves. The latter should be performed in sole compliance with the JORC Code, with the 2012 edition of the Code providing a uniform standard for public reporting of resources and reserves across all commodities.
Having a single, uniform standard is considered to have significant benefits for both Competent Persons and industry.
Additionally, reference to external documents managed by groups external to JORC is considered to have potential to create confusion where JORC and any commodity specific guideline appear to differ on detailed technical issues. The 2012 edition of the JORC Code sets new standards of accountability and disclosure for Competent Persons while remaining completely non-prescriptive with respect to the methods used to estimate, classify and report resources. This approach provides ultimate flexibility in managing developments in resource evaluation, classification and reporting methodologies.
Follow the link below to view the AIG submission.