Is it possible to update the definition for an Ore Reserve from "the economically mineable part of a Measured and/or Indicated Mineral Resource" (JORC Code 2012) to "the part of a Measured and/or Indicated Mineral Resource that is both economically and responsibly mineable"?
If it is possible to update the definition of a Reserve to include "responsibility", all those with a stake in the extractives sectors, from operators to investors, communities, governments, NGOs, suppliers and customers, would apply the same value to "responsible extraction" of minerals as it would become an integral part of all calculations for the value of an asset.
Currently we are only looking at mineral resources and ore reserves, however this scope could be expanded to include e.g. oil & gas in the future.
WHAT ARE WE DOING?
We are currently holding a series of informal roundtables and discussions to collate input on:
- Is it possible to update the definition of e.g. an Ore Reserve?
- What do we mean by "responsibility"?
- How can "responsibility" be measured?
- How might a change to the definition of "reserve" impact on different stakeholder groups such as investors, bankers, insurers, owners, governments, regulators, customers?
The output from this consultation phase will shape the future project.
If you would like to get involved, please contact us below or contribute to our LinkedIn discussion forum.
If you would like to get involved, please contact us using the form below.