The Exxaro annual estimation and reporting process is managed through Exxaro geosciences as well as LoM policies and associated Coal Resource and Coal Reserve reporting and estimation procedures. These policies and procedures are aligned with the guidelines of the JSE Listings Requirements (section 12:13) and the SAMREC Code 2016.
The policies 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, hydrogeological, exploration and mine planning disciplines that prescribe methodologies and minimum standards for compliance.
Table 1: Exxaro's reporting structure
|JSE Listings Requirements (section 12)||Geosciences policy||Annual Resource and Reserve estimation schedule||Annual review and update of procedures|
|Considered 2016 amendments to minimum contents of annual report, point 12.13||Reviewed in 2021 and update to follow in second quarter of 2022 to align with new minerals strategy||Followed 2021 estimation schedule for operations under Exxaro's control||Considered 2021 updated procedures|
|SAMREC Code (Table 1)||Exxaro's Mineral Resource and Mineral Reserve reporting procedure||Mineral Reserve fact packs||Competent Persons' register update and review|
|Considered 2016 updated
|Considered 2021 update||2021 Mineral Reserve fact packs updates for Matla and Belfast||Updated for 2021|
|Exxaro's Mineral Resource estimation procedure||Annual Mineral Resource and Mineral Reserve Competent Persons report||Exxaro Consolidated Mineral Resource and Mineral Reserve report (CMRR) review and lead Competent Person sign-off|
|Transitioned to align with proposal and methodologies of SANS 10320:2020 edition 2||Considered 2021 update||Competent Persons' reports updated for Matla and Leeuwpan||Externally peer reviewed by Sugarbush Consulting and signed off by lead CP's|
|JORC Code||Exxaro's Mineral Reserve estimation (LoM) procedure||Mineral Resource and Mineral Reserve report||Applicable Competent Person and technical team sign-off|
|Considered JORC Code, 2012 Edition||Considered 2021 update||Reports updated for Grootegeluk, Mafube and Belfast||Included in individual Competent Persons' and annual Resource and Reserve reports, available on request|
|Internal review and external audit process|
|Conducted several internal and external audits during reporting period and noted findings (subsequently addressed) discussed in section 5 (Assurance)|