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The Mining Valuation Handbook: Mining and Energy Valuation for Investors and Management, 4th Edition by Victor Rudenno

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Chapter 6: Classification of resources and reserves

The Joint Ore Reserves Committee (JORC), which was established in 1996 by the Australian Institute of Mining and Metallurgy (AusIMM), the Australian Institute of Geoscientists and the Minerals Council of Australia, has set a code for the classification of mineralised orebodies — the Australasian Code for the Reporting of Exploration Results, Mineral Resources and Ore Reserves (JORC Code 2004).

A number of other jurisdictions have introduced similar codes for the reporting of resources and reserves including:

• Canadian Institue of Mining (CIM) — CIM Standards on Mineral Resources and Reserves — Definitions and Guidelines (2000)

• Institution of Mining Engineers of Chile (IIMCh) — Certification ...

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