JORC

The Joint Ore Reserves Committee (JORC) Code is an Australasian framework for publicly reporting exploration results, mineral resources, and ore reserves. It provides a standardized approach intended to improve the reliability, transparency, and consistency of information disclosed by mining and exploration companies.

The code is principally used in Australia and New Zealand, and it is widely recognized by regulators, stock exchanges (notably the Australian Securities Exchange), and industry participants. It is maintained by the JORC Committee and updated periodically to reflect advances in geology, mining technique, data analysis, and market expectations. The JORC Code seeks alignment with international reporting standards through participation in the CRIRSCO framework and related cross-border practices.

The JORC Code defines three reporting categories. Exploration Results cover findings from exploration activities that may indicate the presence of minerals but have not yet defined resources. Mineral Resources are a definable concentration of minerals with reasonable prospects for eventual economic extraction, categorized as Measured, Indicated, or Inferred depending on the level of confidence. Ore Reserves are economically mineable portions of Resources, categorized as Proved or Probable based on feasibility studies and economic assumptions.

A Competent Person, a suitably qualified and experienced professional, must assess and sign off on JORC-compliant reports. Their duties include validating data, describing estimation methods, and disclosing key assumptions (such as prices, costs, recoveries) and risk factors.

The code requires clear documentation of methodologies, data quality, and uncertainties. It remains a core reference for corporate reporting in the Australasian mining industry and influences investor communications and governance. Related frameworks include NI 43-101 (Canada), SAMREC (South Africa), and the broader CRIRSCO template.