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The JORC code does many things, but it doesn't prescribe how to consistently classify resources. Optiro's Director of Geology Ian Glacken explains some of the techniques available to ensure consistency in this fifth part of the mini-series on the JORC code.
In this episode:
1:22 When the JORC code is described as being principles-based, what does that mean?
3:16 So contrasting to other codes around the world, the JORC code is a good one, right?
4:33 Why can the JORC code be an issue for large companies?
5:39 What are some of the techniques for getting a more objective classification?
6:30 Is there a standard for objective resource classification? (90/15 rule)
11:16 Where can you get more information on this?For more information:
H M Parker and C E Dohm, 2014. Evolution of Mineral Resource Classification from 1980 to 2014 and Current Best Practice. Finex 2014 Julius Wernher Lecture JORC Code Contact Ian Glacken - Optiro Director of Geology: [email protected] -
Getting reconciliation wrong can lead to dire consequences for miners. Mine reconciliation is the practice of comparing the tonnage and grade of material processed by the mill with the tonnage and grade of ore in the reserve model of a deposit and with the tonnage and grade in the grade control models used to define ore in mining. Optiro's Director of Geology Ian Glacken explains what can go wrong and how we can aim to avoid issues.
In this episode:
0:47 What is reconciliation and how it applies to mining?
1:48 What happens when things go wrong?
2:29 If someone has made a poor forecast at the beginning, is there any way back?
3:33 What are the key aspects of reconciliation?
5:46 Why is reconciliation so complicated? Does it need to be?
7:08 What about the standards we need to adhere to?
8:07 Is this just the domain of geologists or are there others involved?
9:09 What are the key aspects of an effective reconciliation?
9:56 Where can people learn more about reconciliation?For more information:
Contact Ian Glacken - Optiro Director of Geology: [email protected] Optiro websiteLinks:
Standardising the Reconciliation Factors Required in Governance Reporting (2009) Fouet et. al
Reconciliation principles for the mining industry (2012) H.M. Parker
Optiro Reconciliation training course - https://www.optiro.com/training/reconciliation-getting-right-first-time/
