Firstly, African Rainbow Minerals Limited (ARM) is grateful to have been awarded the 2018 SAMREC/IAS award from the Investment Analysts Society of South Africa for its 2017 Mineral Resources and Mineral Reserves Annual Report (annual report). The award is evident of the dedication, commitment and hard work of the ARM Lead Competent Person on Mineral Resources and Mineral Reserves, all the Competent Persons at Corporate Office, Operations, as well as at the Joint Venture Partners. These men and women contributed to the production of this annual report.
The high quality submissions for the report from our Operations formed the foundation to this achievement.
INSIGHTS FROM THOSE INVOLVED IN THE COMPILING OF THE PUBLIC REPORT ON ARM MINERAL RESOURCES AND MINERAL RESERVES FOR 2017
Our annual report for 2017 was the first to be produced in compliance with the revised SAMREC Code of 2016, adopted by the JSE Limited (JSE) in May of 2016. Our challenge in the last year was to ensure that our annual report was compliant to the new Code and the JSE reporting requirements in what could be considered a short space of time. However, with planning, in 2016 and 2017 a number of initiatives were undertaken to ensure our road to achieving compliance:
- ARM Lead Competent Person’s team attended the SAIMM organised workshop on “The SAMREC/SAMVAL companion Volume Conference” on 17 and 18 May 2016 during which the new SAMREC Code was launched. Many good presentations were given including ones on “Good reporting practices’’, and “The Application of Modifying Factors” which provided guidance on application of the new code.
- ARM Competent Persons team members also attended the SAIMM organised SAMREC/SAMVAL Advanced workshop last year during which they improved their knowledge and application of advanced aspects of the SAMREC and SAMVAL Codes.
- A Mining Consultant was engaged to review ARM’s past annual reports against the new Code and the JSE reporting requirements. The assessment identified gaps and improvement areas and provided recommendations to achieve compliance.
- ARM introduced Mineral Resources Management Forums across the Group to assist technical specialists to share expertise and highlight the requirements of the Code and JSE reporting requirements.
Lastly, a benefit has been derived from the JSE reviews of our annual report by the JSE Readers panel. Comments and suggestions that have been provided from these reviews have been considered and where applicable, implemented into the 2017 annual report, which resulted in significantly improved quality and compliance of our reports.
Shepherd Kadzviti (Competent Person) 4 July 2018