The relevance of SAMCODES compliance is captured in the upcoming amendment to the MPRD Act1, where mineral companies will be required to submit all Mineral Reserve, Mineral Resource and/or Exploration Results according to the SAMREC Code.
- Exploration Results, Mineral Resources and Mineral Reserves submitted by holders of a Mining Right will be required to be fully compliant with the SAMCODES and signed off by a Competent Person/Valuator, as appropriate. These will need to be based on a current, existing CPR, Annual Integrated Report or other appropriate document (that is not to be submitted, but must be available immediately on request by the DMR).
- Data/information/results submitted by holders of Prospecting Rights do not have to be compiled by registered Competent Persons/Valuators. However, all terminology must be in accordance with SAMCODES principles. This has specific reference to all:
- Definitions of terms such as Mineral/Diamond/Coal Resources, Mineral/Diamond/Coal Reserves, Exploration Results, Exploration Targets , Mineralisation, Ore, Scoping Studies, Prefeasibility Studies, Feasibility Studies, etc. For a full list of defined terms that may only be used in the required context, please see the Glossary of Terms and definition sections in the latest applicable SAMCODES;
- Statements of Exploration Results, Exploration Targets and/or Mineralisation;
- Statements or tabulations of Mineral Resources and Mineral Reserves, as appropriate;
- Discussion of Technical Studies (Scoping, Pre-feasibility or Feasibility Study, as applicable);
- Economic Assessments and the use of Discounted Cash Flows;
- Environmental, social and governance issues (for example EMP, EMPR, SLP, etc.).
To assist in this matter, the DMR (Department of Mineral Resources) and CGS (Council for Geoscience) have developed an online platform for Prospecting and/or Mining Right holders to submit their Annual Progress Reports. This not only caters for online submission of these documents, but also gives guidance on the type and quality of information required. This platform is expected to be operational by H2/2017.
1. Although the amendments to the Act have yet to be promulgated, the DMR/CGS are already requiring SAMCODES compliance with all submissions/applications.