In the global mining industry, transparency and rigour in the disclosure of mineral resources and reserves are essential to attract investors, satisfy regulators, and ensure project credibility. Two standards dominate this landscape: NI 43-101 (Canada) and the JORC Code (Australia/Asia-Pacific). While they share the same fundamental objectives, their requirements, scope, and regulatory contexts differ on several key points. NI 43-101 (Canada) et le JORC Code (Australie/Asie-Pacifique). Bien qu’ils partagent les mêmes objectifs fondamentaux, leurs exigences, champs d’application et contextes réglementaires diffèrent sur plusieurs points clés.

What is NI 43-101?

The National Instrument 43-101 is a Canadian standard administered by the Canadian Securities Administrators (CSA). It governs the public disclosure of scientific and technical information on mineral projects by companies listed on Canadian stock exchanges. Its application is mandatory for any company listed on the TSX or TSX-V, and technical reports must be signed by an independent, certified Qualified Person (QP).

What is the JORC Code?

The Joint Ore Reserves Committee (JORC) Code is the Australian standard, recognized and adopted across many Asia-Pacific countries. It is jointly administered by the Australasian Institute of Mining and Metallurgy (AusIMM) and the Australian Institute of Geoscientists (AIG). Like NI 43-101, it requires the involvement of a Competent Person (CP) to validate resource and reserve disclosures.

Comparing the Two Standards

Classification framework: Both standards use the same CRIRSCO classification framework: Inferred, Indicated, and Measured Resources → Probable and Proven Reserves. The resource-to-reserve conversion logic is identical in both cases.

Qualified Person vs Competent Person:

• NI 43-101: The QP must be a member of a recognized professional association with at least 5 years of relevant experience.
• JORC: the CP must also be a member of a recognized organization (AusIMM, AIG, etc.) with relevant experience.

Technical report:

• NI 43-101 exige un rapport technique formel (souvent 100-300 pages) déposé sur SEDAR, suivant un format standardisé en 27 chapitres.
• JORC does not prescribe as rigid a report format — disclosure can be made through compliant press releases, without a mandatory technical report in all cases.

Facteurs de modification :
Les deux standards exigent l’évaluation des facteurs de modification (miniers, métallurgiques, économiques, environnementaux, sociaux et juridiques) pour convertir des ressources en réserves. L’approche est similaire, mais NI 43-101 est généralement plus prescriptif dans sa documentation.

Mutual recognition:
Both standards are CRIRSCO members CRIRSCO et se reconnaissent mutuellement dans de nombreux contextes. Une déclaration JORC peut souvent être adaptée pour satisfaire NI 43-101, et vice versa, moyennant quelques ajustements.

Which One Should You Choose?

The choice depends primarily on:

• Your company's stock exchange listing (TSX → NI 43-101; ASX → JORC)
• The geographic location of the project and target investors
• The regulatory requirements of the host countryThe preferences of institutional investors
• Les préférences des investisseurs institutionnels

For companies operating across multiple markets, it is often necessary to produce reports compliant with both standards simultaneously.

Conclusion

NI 43-101 et JORC sont deux standards rigoureux, complémentaires et mutuellement reconnus. Chez CCE Mining, nous maîtrisons les deux référentiels et accompagnons nos clients dans la production de rapports techniques conformes, signés par des Personnes Qualifiées expérimentées, pour maximiser la crédibilité de leurs projets sur les marchés internationaux.