Australia to tighten mining exploration rules

“It puts the handbrake on companies making up their own terminology and definitions,” Steve Hunt, JORC committee chair said. — Bloomberg

MELBOURNE: Australia – one of the world’s most important mining nations – is planning to tighten up 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 yesterday would impose new environmental requirements, plus a need for qualified experts to sign off on estimates of minerals and metals to be mined.