Clifford Chance
ASX consults on changes to reporting requirements for resources companies
4 October 2012
In October 2011, the Australian Securities Exchange (ASX) began a comprehensive consultation process on the method of reserves and resources disclosure by mining and oil and gas companies.
In mid-September this year, the ASX released a consultation paper setting out a revised Chapter 5 of the Listing Rules dealing with reserves and resources disclosure. At the same time, the Australasian Joint Ore Reserves Committee (JORC) released an exposure draft of an updated JORC Code intended to support the proposed amendments to the Listing Rules.
Public comment on both documents is being sought until 26 October 2012 and both documents should be considered in parallel to fully understand the potential impact on an individual listed entity.
