Who is a Competent Person?

SAMREC (The South African Code for the Reporting of Exploration Results, Mineral Resources and Mineral Reserves) Clause 7 notes that 'Documentation detailing Exploration Results, Mineral Resources and Mineral Reserves from which a Public Report is prepared must be prepared by, or under the direction of, and signed by a Competent Person.' Similar statements with respect to Competent Valuators (CVs) and Qualified Reserves Evaluators (QREs) are contained in the SAMVAL (South African Code for the Reporting of Mineral Asset Valuations) and SAMOG (South African Code for the Reporting of Oil & Gas Resources) codes respectively. What does it mean to be a Competent Person (CP) in the context of compiling/signing-off on SAMCODE (South African Mineral Code) compliant documents? What do the registration and experience requirements mean? Who is ultimately responsible for the report and what does such responsibility prescribe?

TO ISSUE OF APPROBATION OF RESERVES

The possibility of obtaining special permits for the use of subsoil (after approbation of mineral reserves) has been canceled from February, 2020. This decision was made without much discussion. The opinions of subsoil users were also not taken into account. The “monopolization” of the auction procedure has some negative aspects. They are discussed in the article. It is proposed to consider the possibility of returning to the order that was in effect before February 2020.

Editorial for Special Issue “Geophysics for Mineral Exploration”

Exploration geophysics plays a major role in unlocking mineral reserves [...]

Laterite Nickel Mine Sequence Modeling Based on Total Reserve at Block 5A, “Bonus” Pit by Surpac 6.3.2 at PT Bintang Delapan Mineral in Bahodopi District, Morowali Regency, Central Sulawesi

PT. Bintang Delapan Mineral is an active nickel mine company that produces 300,000 tons of nickel per month by open pit method. During the mine operation, the company needs to calculate the reserves periodically due to decreasing nickel reserves in the long time period. Mineral reserves estimation is a process to determine and define the grade and boundary of a mineral deposit. Reserves estimation can be done manually using several methods. One method is called block modeling which presents the estimation process in block model type by applying a mining software, called Surpac 6.3.2. It was able to present the progress of mine site activity (pushback). The result of nickel reserves estimation by Surpac 6.3.2 block modeling is 48730 m3 or equal to 73096 tons. The nickel reserves have an average grade of 1.64%. By this reserve estimation, mine sequences could be created into 7 sequences in considering bench height. Bench model specifications are bench high 4 m, berm 2 m, and 60º slope.

Aspects of Estimation and Reporting of Mineral Resources of Seabed Polymetallic Nodules: A Contemporaneous Case Study

Exploration of seabed polymetallic nodules identifies the Clarion Clipperton Zone and the Indian Ocean Nodule Field to be of economic interest. Mineral resource estimation is important to the owner of the resource (all of mankind; and managed by the International Seabed Authority; ISA) and to developers (commercial and government groups holding contracts with the ISA). The Committee for Mineral Reserves International Reporting Standards was developed for the land-based minerals industry and adapted in 2015 for ISA-managed nodules. Nodules can be sampled in a meaningful manner using mechanical devices, albeit with minor issues of bias. Grade and moisture content are measured using the established methodology for land-based minerals. Tonnage of resource is determined via the abundance of nodules in kilograms per square metre of seabed. This can be estimated from physical samples and, in some cases, from photographs. Contemporary resource reporting for nodules classify the level of confidence in the estimate, by considering deposit geology, sample geostatistics, etc. The reporting of estimates also addresses reasonable prospects for eventual economic extraction, including factors such as mining technology, the marine environment, metallurgical processing, and metals markets. Other requirements are qualified persons responsible for estimation and reporting, site inspection, and sample chain of custody.

Supplementary Mineral Resources and Mineral Reserves Reports: Readability and textual choice

SYNOPSIS Investing in a mining venture can be risky and stakeholders need transparent, unbiased reports to understand the Mineral Resources and Mineral Reserves a mining company holds. Readability and textual choice can be used consciously to manipulate perceptions, or it can be done unconsciously. This exploratory study investigates the readability and textual choice of supplementary Mineral Resources and Mineral Reserves Reports of companies listed on the Johannesburg Stock Exchange. The results indicate that narrative manipulation occurs in these reports through word choices that make the reports difficult to read, as well as specific narrative selections. This reduces the informational value of the reports. The results of the study will be useful to various stakeholders, such as mining company management, investors, investment specialists, financial analysts, and even employees and the general community, who all use these reports to make important decisions. It is also useful for the preparers of the Mineral Resources and Mineral Reserves Reports, Competent Persons, and other technical specialists to be aware of readability and that certain textual choices can affect the interpretation of these reports. It is recommended that bodies such as the JSE and the SAMREC and SAMVAL Code committees consider adding a plain language requirement to regulations, guidelines, and codes to ensure transparent, unbiased, and objective reports. Keywords: Corporate reporting, Mineral Resources. Mineral Reserves, narrative style, readability.

Overview of brown coal reserves in Banovići basin in accordance with PERC reporting standard

In this paper the mineral reserves of brown coal deposits in the Banovici basin have been preliminary correlated to the international standard for reporting of minerals. It can act as a "key code and guidelines" for any country that wants to adopt its own standard reporting based on PERC and represents a new way of unique way of reporting and cadastre of mineral resources on the territory of Europe.