Exxaro Resource limited Report Selector 2018

Report Selector

Exxaro Resources Limited Mineral Resources Report


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

  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   2017 update to align with our functional model strategy was considered   2018 estimation schedule for operations under Exxaro control was followed   2017 update was considered  
  SAMREC Code (2016) table 1   Exxaro Mineral Resource and Reserve reporting procedure   Mineral reserve fact packs   Competent person's register update and review  
  2016 updated table 1 was considered   2016 version was updated to include external audit findings and recommendations   ECC, Matla and Leeuwpan fact packs containing all modifying factor considerations were updated   Updated for 2018  
  SANS (SANS 10320:2004)   Exxaro Mineral Resource estimation procedure   Annual operation/project Mineral Resource and Reserve report   CMRR review and lead competent person sign-off  
  SANS guidelines were considered   2016 version was updated to include external audit recommendations   Belfast annual report was updated   Review concluded in March 2018 by SRK Consultants  
  JORC Code (2012)   Exxaro Mineral Reserve estimation procedure   Consolidated Mineral Resource and Reserve report (CMRR)   Applicable competent person and technical team sign-off  
  2017 LoMP update was considered   Incorporated 2017 external review findings   Included in individual CPR reports, available on request  
  When required:Mineral resource and reserve competent person report/s   Internal review and external audit process  
  Given the new SAMREC Code, we have updated individual CPRs for 2018   External process audits were conducted on Central, Grootegeluk, and Forzando. Reviews were conducted on Matla and Moranbah  
Comments on 2018 estimation shown in blue italics