ABSTRACT
The Joint ore reserves committee (JORC) code was first released in 1989, with the guidelines to the code published in 1990. For many companies around the world, the JORC code is seen as the de facto standard, and its use is mandatory for all listed entities on the Australian securities exchange. The Australian securities exchange limited listing rules define a regime for continuous disclosure and periodic reporting for all listed companies. Geoscience Australia is responsible for compiling information on the nation’s mineral and petroleum resources. A mineral resource is a concentration, or occurrence, of material of intrinsic economic interest in or on the Earth’s crust in such a form and quantity that there are reasonable prospects of eventual economic extraction. Coal reserve estimates must take into account diluting materials and are adjusted for losses that may occur as coal is mined.
