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Mineral resources and ore reserves

Mineral resources and ore reserves are important indicators to measure the value of a company, and provide evaluation benchmarks for the mine life and annual budget。

Mineral resources can be defined as the economically beneficial substances accumulated in or above the earth's crust, while ore reserves refer to the economically recoverable part of mineral resources at present。

We publish annual reports on estimated mineral resources and ore reserves, but can estimate new mineral discoveries at any time。

Mineral resources and ore reserves are reported by boundary tonnage and grade (quality)。

JORC accredited geologists, mining engineers and metallurgists in the Group are responsible for analysing and extrapolating the group's estimated resources and reserves。

JORC criterion is a classification system for estimation of mineral resources and ore reserves. According to geological knowledge and reliability level, mineral resources can be divided into proved, controlled and inferred。Ore reserves can be classified as confirmed or probable according to mineral resource volume classification and all JORC modification factors。

Only proven and controlled resources can be converted into ore reserves。

The figures contained in the Group's mineral resources and ore reserves statements are estimates only and are not exact calculations and have therefore been appropriately rounded in accordance with the JORC guidelines。

The tables of mineral resources and ore reserves on this page are in accordance with the "Australian Criteria for Reporting Exploration Results, Mineral Resources and Ore Reserves" (JORC Guidelines, 2012 edition), providing a detailed breakdown of estimates。

Mineral resources and ore reserves report

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