Abstract
This paper is intended to document recent personal thoughts, opinions, and debate around
the South African Mineral Resource Committee (SAMREC) Code (2009) (the Code) and
its current usage by competent Persons. Admittedly, some debates are as old as the
SAMREC Code itself and have been ‘parked’ as no consensus could be reached by
members of the SAMREC Working Group.
Some of the more critical issues currently under examination are the definition of
Competent Person and the potential registration of Competent Persons, the current re-write
of the Code and the introduction of reporting of Exploration Results, Mineral Resources,
and Mineral Reserves on an ‘if not why not’ basis, noncompliance to the Code and
discipline, the role of the Johannesburg Stock Exchange Readers Panel, and the valuation
of mineral assets based on scoping studies.