NI 43-101 vs JORC: What Are the Differences?

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.

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 requires a formal technical report (often 100–300 pages) filed on SEDAR, following a standardised 27-item format.
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.

Modifying factors:
Both standards require the modifying factors (mining, metallurgical, economic, environmental, social and legal) to be assessed when converting resources into reserves. The approach is similar, but NI 43-101 is generally more prescriptive in its documentation.

Mutual recognition:
Both standards are part of the CRIRSCO family and are mutually recognised in many contexts. A JORC statement can often be adapted to satisfy NI 43-101, and vice versa, with a few adjustments.

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 country
The preferences of institutional investors

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

Conclusion

NI 43-101 and JORC are two rigorous, complementary and mutually recognised standards. At CCE Mining, we work with both frameworks and help our clients produce compliant technical reports, signed by experienced Qualified Persons, to maximise the credibility of their projects on international markets.