Does JORC need updating?

THE Joint Ore Reserves Committee Code that has underpinned Australia’s resource sector for decades will inevitably be revised, but is there a pressing need for an update given what can be accomplished within the existing system?

Does JORC need updating? Does JORC need updating? Does JORC need updating? Does JORC need updating? Does JORC need updating?

Application of the JORC code is principles-based not rules-based, and an overhaul would be no simple task.

Leading the charge for some changes to industry practise is SRK Australia chairman Mark Noppe, who has been beating the reform drum for some time, saying there are "still surprisingly large gaps in the assurance systems that companies use to protect against inaccuracy of reporting exploration results, mineral resources and ore reserves".
 
CSA Global principle geologist and manager corporate Graham Jeffress (who also sits on the JORC executive) said any major revision to the JORC Code was a "non-trivial" exercise so there was no real desire to return to that process without a demonstrated need for substantial change.
 
Jeffress said the JORC Code was principles-based, not rules-based, and was better being overseen with regul...