On 5 October 2011, the Australian Securities Exchange (ASX)
released an issues paper on the ASX Listing Rules reporting
requirements applicable to reserves and resources reported by
listed mining and oil and gas companies. It is of particular
importance for those operating in the mining industry as it could
result in a regime change towards a more prescriptive form of
disclosure for mineral projects, similar to the Canadian standards
currently in operation.
Initially, the ASX was working alongside the Joint Ore Reserves
Committee (JORC) of the Australasian Institute of Mining and
Metallurgy, Australian Institute of Geoscientists and Minerals
Council of Australia, which are the sponsors of the Australasian
Code for Reporting of Exploration Results, Mineral Resources and
Ore Reserves (JORC Code) in the development of the issues paper,
with the intention of producing joint proposals as between the ASX
and JORC. The issues paper that was released, however, were
proposals
