JORC Code (2012 Edition) — Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves
- Record: mining-cert-010 — JORC Code (2012 Edition)
- Issuing body: Joint Ore Reserves Committee (JORC) — AusIMM, Australian Institute of Geoscientists (AIG), Minerals Council of Australia; given legal force via ASX Listing Rules Chapter 5 and recognized under other exchanges
- Jurisdiction: Australia (mandatory for ASX-listed entities); international via CRIRSCO-aligned codes (SAMREC, CIM, PERC, etc.)
- Record type / importance: standard / flagship
- Last verified: 2026-09-30
What it is
The Australasian professional code of practice for public reporting of exploration results, mineral resources, and ore reserves — the Southern Hemisphere's answer to NI 43-101 and the reporting standard behind most ASX mining disclosure. Like NI 43-101 it is built on three principles — transparency, materiality, competence — and on the Competent Person, the JORC analogue of the QP. It is enforced through ASX Listing Rules (breach = listing-rule breach) rather than securities statute directly, with ASIC able to pursue misleading disclosure under corporations law.
Scope: who/what it applies to, triggers, thresholds
- ASX-listed entities reporting exploration results, resources, or reserves — Listing Rules 5.6–5.23 incorporate the Code by reference.
- Trigger: any public report touching these matters — announcements, annual reports, presentations.
- Competent Person: minimum 5 years relevant experience in the style of mineralization and type of deposit under consideration, and membership of AusIMM, AIG, or a Recognized Professional Organisation (RPO). The CP consents in writing to the form and context of their attributed statements.
Key requirements and compliance obligations
- Classification: exploration results → inferred/indicated/measured mineral resources → probable/proved ore reserves, with Table 1 — the Code's checklist of assessment criteria (sampling, drilling, estimation, modifying factors) — disclosed on an "if not, why not" basis for first-time or materially changed estimates.
- Reasonable prospects for eventual economic extraction (RPEEE): resources must satisfy RPEEE — the economic-reality gate.
- Modifying factors for reserve conversion: mining, metallurgical, economic, marketing, legal, environmental, social, governmental — each addressed, with pre-feasibility study level as the minimum basis for reserve declaration.
- Metal equivalents, production targets, and forecast financial information: prescribed cautionary statements and bases; production targets based solely on inferred resources are prohibited from public reporting in most contexts.
- Annual reporting: mineral resources and ore reserves holding statements with governance and review summaries.
Penalties and consequences
- ASX enforcement: queries, price queries, suspension, delisting; referral to ASIC for misleading-or-deceptive-conduct action under the Corporations Act 2001 (civil penalties, banning orders).
- Professional consequences: AusIMM/AIG disciplinary action against the Competent Person — the CP's livelihood is the enforcement lever.
Version/edition status and LIVE changes (verified 2026-09-30)
- The 2012 Edition remains the operative Code as of Sept 30, 2026 — but a replacement is imminent:
- JORC published a draft revised Code (Aug 2024) with six change areas: structure/format, competence and responsibility, reasonable prospects, ESG, risks/opportunities/threats, and reconciliation. Key proposals: mandatory disclosure of environmental risks, public credential transparency for CPs ("Record of Relevant Experience"), and technical guardrails on exploration-result announcements.
- March 2026 update: legal review of the draft substantially advanced; provisional "JORC Code 2026" being finalized for review by CRIRSCO, ASX, ASIC, and parent bodies.
- August 2026: JORC held a public webinar on review progress; the revised Code requires ministerial approval and an ASX consultation on Listing Rule changes before commencement, followed by a transition period (mirroring the 2012 rollout).
- Practitioner position: continue reporting under the 2012 Edition; prepare systems (ESG data capture, CP documentation) for the new Code's requirements now — the ESG and competence-transparency provisions will demand data most juniors do not currently compile.
Related certifications (Mining flagship/license)
- JORC Competent Person (mining-cert-004): the person-status this Code creates.
- SME Registered Member (mining-cert-002): recognized-organization membership pathways.
- QP under NI 43-101 (mining-cert-003): the Canadian analogue; many professionals hold both statuses.
Honest flags
- The draft Code's final content is not settled — ministerial approval and ASX consultation could still change provisions. Descriptions of the draft reflect JORC's published updates and press coverage, not the final text.
Original ETS reference writing, verified against public sources on 2026-09-30. Thin sourcing is flagged inline. Not legal advice — confirm current editions with the issuing body.