The Conversation (0)
JORC Code Standardizes Mining Reports Around the World
Dec. 02, 2010 01:09PM PST
Kidela Capital Group(Editorial) reports on how the JORC codes standardizes mining reports around the world.
Kidela Capital Group(Editorial) reports on how the JORC codes standardizes mining reports around the world.
The editorial is quoted as saying:
This mining boom was happening at the same time that the infamous BreX scandal took place. This scandal occurred when a small mining company falsified reports of a massive gold find in Indonesia. The scandal ultimately resulted in the loss of billions of dollars of investor’s money. The fallout from this scam exposed that part of the problem was tied to a lack of reporting standards between countries around the globe.
To a large extent that incident was a catalyst that spurred on the demand for a rigorous and internationally recognized reporting code. This new code would provide consistent and reliable information for investors in the mining and mineral extraction industry.