The Exxaro annual estimation and reporting process is managed
through the Exxaro geosciences as well as LoM policies and associated
Coal Resource and Coal Reserve reporting and estimation procedures.
Policies and procedures are aligned with the guidelines of JSE Listings Requirements (section 12:13) and the SAMREC Code 2016.
The policy and procedures dictate technical requirements for estimation and reporting and include guidelines on methodologies, processes
and deliverables. Procedures are also implemented for the geophysical, rock engineering, geotechnical, structural geology, tenure
management, hydrogeological, exploration and mine planning disciplines that prescribe methodologies and minimum standards
for compliance.
To align with the SAMREC Code, Exxaro has updated its internal competent persons’ reports from 2017, annually testing the “if not, why not”
principle to enhance transparency. The reports followed guidelines under Table 1 of the SAMREC Code.
Table 1: Exxaro reporting structure
| |
|
Regulatory |
|
|
Governance |
|
|
Deliverables |
|
|
Assurance |
| |
JSE Listings Requirements (section 12) |
|
|
Geosciences policy |
|
|
Annual Resource and Reserve estimation schedule |
|
|
Annual review and update of procedures |
| |
2016 amendments to "minimum contents of annual report, point 12.13" were considered |
|
|
2019 update to align with our functional model strategy was considered |
|
|
2020 estimation schedule for operations under Exxaro control was followed |
|
|
2019 procedures and the 2020 updated exploration, geotechnical, rock engineering and structural geology procedures were considered |
| |
SAMREC Code (Table 1) |
|
|
Exxaro's Mineral Resource and Mineral Reserve reporting procedure |
|
|
Mineral Reserve fact packs |
|
|
Competent persons' register update and review |
| |
2016 updated Table 1 was considered |
|
|
2019 update to include audit findings and recommendations |
|
|
2020 Mineral Reserve fact packs were reviewed and considered |
|
|
Updated for 2020 |
| |
SANS 10320:2004 |
|
|
Exxaro's Mineral Resource estimation procedure |
|
|
Annual operation/project Mineral Resource and Mineral Reserve report |
|
|
Consolidated Mineral Resource and Mineral Reserve report review and lead competent person sign-off |
| |
We are reviewing and transitioning to align with the proposal and methodologies of SANS 10320:2020 edition 2 |
|
|
2019 update to include audit recommendations |
|
|
Competent persons' reports were updated for operations under Exxaro's management control |
|
|
Externally peer reviewed and recommendations incorporated |
| |
JORC Code |
|
|
Exxaro's Mineral Reserve estimation (LoM) procedure |
|
|
Consolidated Mineral Resource and Mineral Reserve report |
|
|
Applicable competent person and technical team sign-off |
|
|
|
|
|
2019 update was considered |
|
|
Compiled to reflect 2020 estimates |
|
|
Included in individual competent persons' reports, available on request |
|
|
|
|
|
|
|
|
When required |
|
|
Internal review and external audit process |
|
|
|
|
|
|
|
|
Competent persons' reports were updated for 2020 reporting period |
|
|
A number of internal and external audits were conducted in the reporting period. Findings were noted and subsequently addressed. The audits are discussed in the risk and assurance chapter |
Comments on 2020 estimation shown in italics.
|
