REPORTING CODE DOWNLOADS

2016 SAMREC/SAMVAL VERSION OF THE CODES ARE MANDATORY FROM 1 JANUARY 2017
  • Slope Facies VCR overlain by amygdaloidal Klipriviersberg Lava, West Driefontein Gold Mine

    Slope Facies VCR overlain by amygdaloidal Klipriviersberg Lava, West Driefontein Gold Mine

  • 710ct diamond from Tchikapa River, DRC

    710ct diamond from Tchikapa River, DRC

  • Bulk Sampling

    Bulk Sampling

  • Exploration drilling

    Exploration drilling

  • Resource modelling

    Resource modelling

  • SAMCODES Launch (JSE, May 2016)

    SAMCODES Launch (JSE, May 2016)

  • SAMCODES

    SAMCODES

  • Sustainable mining

    Sustainable mining

  • TauTona Mine (AngloGold Ashanti)

    TauTona Mine (AngloGold Ashanti)

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Latest News

  • SAMCODES 2021 CONFERENCE

    samcodes CONFERENCE LOGO 09102020 3The SAMCODES 2021 Conference will take place on 26-27 October 2021 (the precise format (face-to-face/hybrid meeting) will depend on prevailing circumstances and will be announced in due time.

    The conference provides Competent Persons and Competent Valuators the opportunity to prepare and present details of recognised standards and industry benchmarks as well as relate lessons learnt in relation to the declaration of Mineral Resources and Mineral Reserves and the preparation of valuations.

    In addition to providing contributions in respect of good practices and recognised standards and industry benchmarks, the conference aims to provide guidance on the complex issues in grey areas of the Codes.

    The SAMCODES conference will incorporate issues such as the implementation of the Codes by The JSE, the relevance of the Codes , some of the lessons learnt since the implementation of the Codes in 2016, aspects of SANS 10320 for the declaration of Coal Resources and Coal Reserves, and the application of the various methods of valuation and where and when they should be applied in accordance with the SAMVAL Code.

    Read More
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  • John Etherington

    John EtheringtonOn behalf of the UNECE secretariat and the Chair of the Expert Group on Resource Management (EGRM), David MacDonald, it is with great regret that we inform you of the passing of John Etherington.

    John was a longstanding friend of EGRM and an active member starting in 2006 until 2017 when he withdrew from his roles for health reasons. He contributed to the development of the United Nations Framework Classification for Resources (UNFC) and was the founding Chair of EGRM's Technical Advisory Group. As Chair of the Technical Advisory Group, John led the development of UNFC’s sectoral specifications and bridging documents to the national systems of Russia and China. John's untiring efforts contributed to the global application of UNFC that we witness today.

    Read More
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  • THE IMPORTANCE OF ESG REPORTING

    ESG Day Flyer smallWORKSHOP 4 NOVEMBER (ZOOM)
    The importance of ESG in public reporting

    The programme aims to provide an overview of why environmental, social and Governance (ESG) considerations are so important to the minerals industry from the perspectives of mining companies, investors, and external stakeholders.
    Attendees will engage in discussions on key questions including:

    • what is the global importance of ESG?
    • what do investors think about ESG – do they even care?
    • what does South African legislation say about ESG?
     
    Read More
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Reporting Standards

Public Reporting of Exploration Results, Mineral Resources and Mineral Reserves and SAMCODES STANDARDS COMMITTEE (SSC)
Friday, 29 January 2016 10:14

Attracting finance for exploration and mining ventures is a critical part of the resource business environment today, and there are a number of finance options available, including accessing private equity. With the increase in the number of non-listed (private) companies and individuals seeking to obtain financial assistance, it is important to appreciate that issues of public reporting are not confined to listed companies only. Under all circumstances, if Exploration Results, Mineral Resources and/or Mineral Reserves are reported publically (as defined in the SAMREC Code of 2016), and if said report is claimed to have been compiled in accordance with any of the SAMREC, SAMVAL or SAMOG Codes, then the report and the author are subject to the minimum standards and requirements of the relevant Code as well as the complaints procedure of the SAMCODES Standards Committee (SSC).

What is a Public Report

SAMREC Code Clause 3:

Definition

Public Reports are reports prepared for the purpose of informing investors or potential investors and their advisers on Exploration Results, Mineral Resources or Mineral Reserves. They include, but are not limited to, annual and quarterly company reports, press releases, information memoranda, technical papers, website postings and public presentations.

These Public Reports may be in printed or electronic media (including social media) and will include JSE circulars, reports as required by the Companies Act and reports for other regulatory authorities or as required by law.

Public Reporting refers to any documentation which may find its way into the public domain. It refers not only to reporting or documentation by companies listed on a Securities Exchange, but also includes documents compiled by/for private companies or individuals.

While every effort has been made within the Code to cover most situations likely to be encountered in Public Reporting, there may be occasions when doubt exists as to the appropriate form of disclosure. On such occasions, users of the Code and those compiling reports to comply with the Code should be guided by its intent, which is to provide a minimum standard for Public Reporting and the guidelines of materiality, transparency and competence, and to ensure that such reporting contains all information which stakeholders, interested parties, investors and their professional advisers would reasonably require, and reasonably expect to find in the report, for the purpose of making of a reasoned and balanced judgment regarding the Exploration Results, Mineral Resources or Mineral Reserves being reported.