Mining Powerhouse Australia to Tighten Up Exploration Rules
- Revised code to impose new environmental standards on projects
- New approach ‘provides technical guardrails’ for key industry
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Australia — one of the world’s most important mining nations — is planning to tighten rules that govern how companies announce their exploration results, with a revised code for listed companies including industry leaders BHP Group Ltd. and Rio Tinto Group.
A draft of the new code published on Thursday would impose additional environmental requirements, plus a need for qualified experts to sign off on estimates of minerals and metals to be mined. The tweaked JORC Code — or Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves — will require ministerial approval before coming into force.