ABSTRACT
The Australasian Joint Ore Reserves Committee (JORC) is undertaking a review and update of the 2012 edition of the Code.
The review process has engaged key stakeholders through general submissions, an online survey and a submission from the government regulator Australian Securities and Investments Commission (ASIC).
Nine focus areas were identified to be reviewed and addressed in the JORC Code update, including Environmental, Social, Governance (ESG).
A global Working Group was formed comprising expert ESG, resources industry and finance/ investment representatives. The Working Group compiled available guidance, liaised with peer regulatory codes e.g., SAMREC and reviewed stakeholder feedback to capture learnings and prepare recommendations for incorporating into the 2022 edition of the JORC Code.
The Working Group has prepared draft ESG recommendations for consideration by JORC including:
· A specific ESG guidance clause 5 and modifications to Exploration Results, Mineral Resources and Ore Reserves clauses,
· Additions to Tables One and Two (based on the CRIRSCO template),
· An ESG guidance matrix for practitioner consideration, arranged by theme and project maturity,
· A summary of 90+ current ESG-related instruments (regulatory and non-regulatory), and
· Commenced a strawman of hypothetical good practice examples and poor practice examples to assist practitioners.
The draft recommendations are currently being reviewed by JORC for incorporation into a draft Code update. Stakeholder consultation, edits and final approvals will be sought to publish the updated JORC Code in late 2022 or early 2023.
Biography
JORC Executive Committee Member. Melbourne, Australia, jill.terry@newcrest.com.au
Jill Terry completed a BSc Honours in Geology at the University of Melbourne in 1984 and post-graduate Mineral Economics (Macquarie University) in 1987.
She commenced employment as a mine geologist with Newmont Holdings at Telfer Gold Mine in 1985 and has worked in various senior, chief and manager roles in mine, project, resource and exploration geology at Boddington Gold Mine, OK Tedi Mine (PNG) and Sepon Mine (Laos) before joining BHP in 2006. She was Vice President Geoscience for BHP from 2014 to 2019 and Vice President Technical Capability from 2019 to 2021. She is currently Head of Mineral Resource Management at Newcrest Mining.
Jill has been a member of the JORC Executive committee since 2011, contributing to JORC Code 2012 and she chaired the JORC ESG Working Group to provide recommendations for drafting of the 2022 JORC Code.
