JORCkoodi

JORCkoodi refers to a set of standardized guidelines used primarily in the mining industry to assess the economic viability of mineral resources and ore reserves. The acronym stands for the *Joint Ore Reserves Committee*, an international committee that developed these criteria to ensure transparency, consistency, and reliability in reporting mineral exploration and mining projects. The guidelines were first published in 1992 and have since undergone multiple revisions to reflect evolving industry practices and regulatory demands.

The JORC Code provides a structured framework for classifying mineral resources and ore reserves into categories such as *Inferred*, *Indicated*, and *Measured*, based on geological knowledge and sampling density. It also outlines reporting requirements for exploration results, mineral resources, and ore reserves, emphasizing the importance of qualified geological and technical assessments. Compliance with the JORC Code is particularly influential in markets like Australia, where it is legally mandated for public disclosures by mining companies listed on the Australian Securities Exchange (ASX).

Adherence to the JORC Code helps investors, regulators, and stakeholders evaluate the quality and reliability of mineral resource estimates. It includes provisions for disclosure of exploration methodologies, sampling techniques, and assumptions used in reserve calculations, fostering greater accountability in the industry. While the JORC Code is widely adopted in Australia and other jurisdictions, similar standards, such as the *SAMREC Code* (South Africa) or *CIM Standards* (Canada), exist in other regions to address local regulatory and market needs.

Critics of the JORC Code argue that its complexity and periodic updates can create challenges for companies in maintaining compliance, particularly for smaller or emerging mining operations. However, its role in promoting transparency and reducing misrepresentation in mineral resource reporting remains widely recognized as a critical tool in the global mining sector. The JORC Code continues to be reviewed and updated to incorporate advancements in geostatistical techniques and industry best practices.