It is the intention of the SAMREC Working Group (SAMREC WG) to review and revise the SAMREC Code. The current SAMREC Code was completed in 2007 and revised in 2009. The code is therefore effectively 5 years old. The SAMREC WG has continued to review the code based on various issues or commentary from the greater extractive industry. In addition it is noted that since the last revision various CRIRSCO Codes have been revised.
The intention is to look at the various working papers and the updates from the other CRIRSCO Codes and include all the relevant changes in a revision to be published towards the end of 2013 or early 2014. To this end we are inviting interested parties in the extractive industries to provide areas that should be considered for review, issues that need to be addressed or aspects of the code that are unclear or contradictory. We are aware that with time new challenges arise within the industry and we would like the code to reflect these changes and be applicable to new circumstances when they arise.
The working papers recently reviewed are:
- Exploration results
- Reporting on Inferred results
- Contribution to CRIRSCO definitions
- Reporting standard and format for mineral resource and reserves
- Oil and Gas to be considered as a third code?
Current aspects receiving attention:
- Inclusion of saleable product as an aspect of Reserve declaration
- Comparison with other CRIRSCO Codes
- Clarification as to legal aspects and permit approvals for resource and reserve declaration
- Inclusion of consent forms in the code.
All interested parties are invited to assist with the process. We would request interested parties to be prepared to participate and contribute on a regular basis for and extended time. The SAMREC WG meets on the last Thursday of every month at the Military Museum in Saxonwold, Johannesburg.
Submissions are requested to be submitted by 31 May 2013.