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THE SOUTH AFRICAN CODE FOR THE REPORTING OF EXPLORATION RESULTS, MINERAL RESOURCES AND MINERAL RESERVES
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THE SOUTH AFRICAN CODE FOR THE REPORTING OF MINERAL ASSET VALUATIONS 
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THE SOUTH AFRICAN CODE FOR THE REPORTING OF OIL AND GAS RESOURCES  
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Public Reporting of Exploration Results, Mineral Resources and Mineral Reserves and SAMCODE STANDARDS COMMITTEE (SSC) PDF Print E-mail
Friday, 29 January 2016 10:14

Attracting finance for exploration and mining ventures is a critical part of the resource business environment today, and there are a number of finance options available, including accessing private equity. With the increase in the number of non-listed (private) companies and individuals seeking to obtain financial assistance, it is important to appreciate that issues of public reporting are not confined to listed companies only.  Under all circumstances, if Exploration Results, Mineral Resources and/or Mineral Reserves are reported publically (as defined in the SAMREC Code of 2016), and if said report is claimed to have been compiled in accordance with any of the SAMREC, SAMVAL or SAMOG Codes, then the report and the author are subject to the minimum standards and requirements of the relevant Code as well as the complaints procedure of the SAMCODE Standards Committee (SSC).

 
SAMREC Diamond Guidelines PDF Print E-mail
Thursday, 28 January 2016 08:20

A Guideline Document has been prepared which provides the methodologies and definitions of the relevant terms that should be considered in the preparation of reports on Diamond Exploration Targets, Diamond Resources and/or Diamond Reserves (SAMREC Clause 59).  It is to be read in conjunction with the 2016 SAMREC Code where it provides further explanation of Clauses 59-79.

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SAMOG CODE – FEBRUARY 2015 PDF Print E-mail
Tuesday, 31 March 2015 09:11

SAMOG
THE SOUTH AFRICAN CODE FOR THE REPORTING OF OIL AND GAS RESOURCES
(THE SAMOG CODE)
2015 EDITION
as amended 1st February 2015
Prepared by:The South African Oil and Gas Committee (SAMOG) Working Group

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Presentation on the Revision of the SAMCODES PDF Print E-mail
Friday, 09 January 2015 08:55

To view the full presentation, please download it here (PDF 2.3MB)

 
Australian Guidelines for the estimation and classification of Coal Resources 2014 Edition PDF Print E-mail
Tuesday, 11 November 2014 13:40

New Australian Guidelines for the estimation and classification of Coal Resources 2014 Edition have now been published by the Coalfields Geology Council of New South Wales and the Queensland Resources Council following an extensive process of reviewing the former 2003 Guidelines.

The new 2014 edition of the Guidelines should now be referred to by minerals professionals working on Coal Resources estimation.

The Australian Guidelines for the Estimation and Classification of Coal Resources 2014 Edition has been recognised as the successor document as published from time to time by the Coalfields Geology Council of New South Wales and the Queensland Resources Council referred to in the guidance to Clause 42: "For guidance on the estimation of Coal Resources and Reserves and on statutory reporting not primarily intended for providing information to the investing public, readers are referred to the 'Australian Guidelines for Estimating and Reporting of Inventory Coal, Coal Resources and Coal Reserves' or its successor document as published from time to time by the Coalfields Geology Council of New South Wales and the Queensland Resources Council. These guidelines do not override the provisions and intentions of the JORC Code for Public Reporting. Competent Persons should as always exercise their judgement in the application of these guidelines to ensure they are appropriate to the circumstances being reported. They may not be appropriate for use in all situations in Australia or overseas."

To access the new 2014 Australian Guidelines for the estimation and classification of Coal Resources, please go to: http://www.jorc.org/links.asp

 
Revision of the SAMREC Code in 2013 PDF Print E-mail
Friday, 12 April 2013 12:29

It is the intention of the SAMREC Working Group (SAMREC WG) to review and revise the SAMREC Code. The current SAMREC Code was completed in 2007 and revised in 2009. The code is therefore effectively 5 years old. The SAMREC WG has continued to review the code based on various issues or commentary from the greater extractive industry. In addition it is noted that since the last revision various CRIRSCO Codes have been revised.

The intention is to look at the various working papers and the updates from the other CRIRSCO Codes and include all the relevant changes in a revision to be published towards the end of 2013 or early 2014. To this end we are inviting interested parties in the extractive industries to provide areas that should be considered for review, issues that need to be addressed or aspects of the code that are unclear or contradictory. We are aware that with time new challenges arise within the industry and we would like the code to reflect these changes and be applicable to new circumstances when they arise.

The working papers recently reviewed are:

  1. Exploration results
  2. Independence
  3. Competence
  4. Reporting on Inferred results
  5. Contribution to CRIRSCO definitions
  6. Reporting standard and format for mineral resource and reserves
  7. Oil and Gas to be considered as a third code?

Current aspects receiving attention:

  1. Inclusion of saleable product as an aspect of Reserve declaration
  2. Comparison with other CRIRSCO Codes
  3. Clarification as to legal aspects and permit approvals for resource and reserve declaration
  4. Inclusion of consent forms in the code.

All interested parties are invited to assist with the process. We would request interested parties to be prepared to participate and contribute on a regular basis for and extended time. The SAMREC WG meets on the last Thursday of every month at the Military Museum in Saxonwold, Johannesburg.

Submissions are requested to be submitted by 31 May 2013.

 
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