The New Code

The Joint Committee of The Australasian Institute of Mining and Metallurgy (AusIMM) and the Australian Mining Industry Council (AMIC) have published a Code for the Reporting of Identified Mineral Resources and Ore Reserves. The Code is the result of an initiative begunin 1971 to achieve industry self regulation of Resources and Ore Reserves reporting which resulted first in guidelines for reporting standards but which have now been incorporated in ASX Listing Rules as a Code withsignificant sanctions ensuring compliance. This paper describes the background to the Code, its key provisions, and comments on practical aspects of1 working with the Code and compliance issues.