GOVERNANCE

The Exxaro annual estimation and reporting process is managed through the Exxaro geosciences policy and associated Coal Resource and Reserve reporting and estimation procedures. Both policy and procedures are aligned with the guidelines of JSE section 12, SAMREC Code 2016 and, for South African coal reporting, SANS 10320:2004.

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, hydro-geological, exploration and mine-planning disciplines that prescribe methodologies and minimum standards for compliance.

To align with the SAMREC 2016 code, Exxaro has updated its internal competent persons' reports (CPRs) in 2017 and again in 2018. No material changes as defined in the code have occurred, but we considered the introduction of the 'if not, why not' principle as significant enough to warrant the updates. The reports followed guidelines under appendix 1 of SAMREC 2016.

Table 1: Exxaro reporting structure