JORC Code is one of the world's most known and widely used mining reporting standards. This standard was developed by the Joint Ore Reserves Committee (JORC) in Australia and used to regulate how mining companies communicated the results of exploration, mineral resources, and mineral reserves to investors and public.

Before standards such as JORC, companies can use different methods and definitions in reporting on the potential of a project, often causing confusion and making it difficult for investors to compare different projects. JORC was present to create a consistent and trustworthy language in mining technical reporting.

JORC is based on three principal principles:

Transparency

The information presented must be clear enough that the reader can understand how a conclusion is reached.

Materiality

All important information that can affect the investor's decision must be revealed.

Competence

Reports must be compiled or reviewed by professionals who have relevant experience and meet the requirements as Competent Person.

JORC divides mining reporting into three major groups:

Exploration Results

The results obtained from exploration activities such as geological mapping, drilling, sampling, and laboratory analysis show the potential for mineralization but have not yet proven the existence of the resource that can be mined economically.

Mineral Resources

The concentration estimate or the number of materials that have a reasonable economical prospect of exploiting. The mineral Resources is divided into Inferred, Indicated, and Measured based on the geologic level of belief.

Ore Reserves

Part of Mineral Resources that has been through technical, economic, environmental, legal and operational studies that are considered worth mining.

One of the most important concepts in JORC is Competent Person. A Competent Person must have had a relevant experience of the type of commodity and type of silt reported. In that way investors gain confidence that the report was compiled by professionals who understand the characteristics of the project in depth.

Although it comes from Australia, JORC's influence far exceeds that country. KCMI It was developed with a philosophy that harmonizes with JORC, so that they both have very similar structures and concepts.

That's why many international investors, financial institutions, public companies, and mining consultants use JORC as one of the main references when evaluating the quality of the report of resources and mineral reserves.

Understanding JORC helps project owners, investors and mining professionals to assess the quality of technical information used in decision making. The greater the value of the project, the more important the standard role of transparent, consistent, and accountable reporting.