Setting the standard: coal resources

摘要

Standards for public reporting of mineral resources and ore reserves are being widely adopted around the world, partly as a response to scandals such as the Bre-X gold mining scandal in 1994. In that same year, the Committee for Mineral Reserves International Reporting Standards (CRIRSCO) was set up with the primary objective of developing a set of international standard definitions for the reporting of mineral resources and mineral reserves. Its members are the national reporting organisations (NROs) responsible for developing reporting codes, standards and guidelines in Australasia (JORC), Chile (National Committee), Canada (CIM), Europe (PERC), Russia (NAEN), South Africa (SAMREC) and the US (SME). The combined value of mining companies listed on the stock exchanges of these countries accounts for a significant proportion of the listed capital of the mining industry.1