1. The SOUTH AFRICAN CODE FOR THE REPORTING OF EXPLORATION RESULTS, MINERAL RESOURCES AND MINERAL RESERVES (the SAMREC Code, or the Code) sets out minimum standards, recommendations and guidelines for Public Reporting of Exploration Results, Mineral Resources and Mineral Reserves in South Africa. It has been drawn up by the Working Group of the SSC Committee under the joint auspices of the Southern African Institute of Mining and Metallurgy (SAIMM) and the Geological Society of South Africa (GSSA). The SSC consists of representatives of the SAIMM, the GSSA, the South African Council for Natural Scientific Professions (SACNASP), the Geostatistical Association of South Africa (GASA), the South African Geomatics Council (SAGC), the Institute of Mine Surveyors of Southern Africa (IMSSA), the Association of Law Societies of South Africa, the General Council of the Bar of South Africa, the Department of Mineral Resources (DMR), the JSE Limited (JSE), the Council for Geoscience, the Banking Association of South Africa, Directorate of Mineral Economics/Minerals Bureau, the Chamber of Mines of South Africa (CoM), South African Institute of Chartered Accountants (SAICA) and the Investment Analysts Society of South Africa (IAS).The first version of the SAMREC Code was issued in March 2000 and adopted by the JSE in their Listings Requirements later that same year. The Code has been adopted by the SAIMM, GSSA, SACNASP, ECSA, IMSSA and SAGC, and it is binding on members of these organisations. For background information and the history of the development of the Code, please refer to the SAMREC Code, March 2000. A second edition of the SAMREC code was issued in 2007 with an amendment being issued in 2009. This 2016 edition supersedes the previous editions of the Code.
The first version of the SAMREC Code was issued in March 2000 and adopted by the JSE in their Listings Requirements later that same year. The Code has been adopted by the SAIMM, GSSA, SACNASP, ECSA, IMSSA and SAGC, and it is binding on members of these organisations. For background information and the history of the development of the Code, please refer to the SAMREC Code, March 2000. A second edition of the SAMREC code was issued in 2007 with an amendment being issued in 2009. This 2016 edition supersedes the previous editions of the Code.
Concurrently with the evolution of the SAMREC Code, the Committee for Mineral Reserves International Reporting Standards (CRIRSCO), initially a committee of the Council of Mining and Metallurgical Institutions (CMMI), has, since 1994, been working to create a set of standard definitions for the reporting of Mineral Resources and Mineral Reserves.
As a result of the CRIRSCO/ICMM initiative, considerable progress has been made towards widespread adoption of globally consistent reporting standards. These are embodied in similar Codes, guidelines and standards published and adopted by the relevant professional bodies around the world.
The definitions in this edition of the SAMREC Code are either identical to, or not materially different from, those existing standard definitions published in the CRIRSCO Reporting Template 2013