The Exxaro annual estimation and reporting process is managed through Exxaro geosciences and LoM policies and associated Coal Resource and Coal Reserve reporting and estimation procedures. These policies and procedures are aligned with the guidelines of section 12.13 of the JSE Listings Requirements and the SAMREC Code.
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
| Regulatory | Governance | Deliverables | Assurance | |||
| 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 | Considered 2022 update | Followed 2023 estimation schedule for operations under Exxaro's control | Considered and reviewed | |||
| SAMREC Code (Table 1) | Exxaro’s Mineral Resources and Mineral Reserves reporting procedure | Mineral Reserves fact packs | Competent Persons’ register update and review | |||
| Considered 2016 updated Table 1 | Considered and reviewed | 2023 Mineral Reserves fact packs updates for Matla, Leeuwpan and Mafube | Updated for 2023 | |||
| SANS 10320 | Exxaro’s Mineral Resource estimation procedure | Annual Mineral Resource and Mineral Reserve Competent Persons’ report | Exxaro consolidated Mineral Resources and Mineral Reserves report review and lead Competent Person sign-off | |||
| Alignment with proposal and methodologies of SANS 10320:2020 edition 2 | Considered 2022 update | Competent Persons' reports updated for Belfast and Mafube | Peer reviewed by Tamela Consulting and signed off by lead Competent Persons | |||
| JORC Code | Exxaro’s Mineral Reserve estimation (LoM) policy | Mineral Resource and Mineral Reserve report | Applicable Competent Person and technical team sign-off | |||
| Considered JORC Code, 2012 edition | Considered 2020 update | Reports updated for Grootegeluk, Leeuwpan and Matla | Included in individual Competent Persons' and annual Resource and Reserve reports, available on request | |||
| Internal review and external audit process | ||||||
| Conducted internal reviews and findings are addressed (Assurance section) |
IR