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98 Business View Australia - August 2015
consensus that relationships should
be established with stock exchanges
and valuation bodies in Australia,
Hong Kong, Singapore and other
countries.
Many MICA members provide
consultancy services outside Australia
and their specialised knowledge is
highly regarded both by the mining
industry in various countries as well
as stock exchanges and the investor
community. The coal industry in
Indonesia has extensively utilised the
services of Australian consultants
and MICA members have been active
in several other countries including
China.
As MICA members operate in various
countries and their competence and
qualifications are readily recognised,
there is a need for reciprocity to
recognise professionals of those
counties. MICA anticipates that
over the next five years a significant
number of new members who are
not resident in Australia will join the
association. These professionals
will be engaged in doing some work
in Australia in conjunction with
Australian consultants for companies
from their countries.
An important role played by members
of MICA is the valuation services they
provide to corporate clients for public
reportingofmineralexplorationresults,
mineral resources and ore reserves.
This critical role played by members
of MICA is performed as a ‘Competent
Person’ under The Australasian Code
for Reporting of Exploration Results,
Mineral Resources and Ore Reserves
(the JORC Code).
MICA members, who are consultants
with the required expertise and
experience, prepare Public Reports
in accordance with the JORC Code
for the purpose of informing investors
and potential investors about
exploration results, mineral resources
and ore reserve estimates amongst
other information. Reports furnished
under the JORC code are mandatory
requirements under the Listing Rules
of the Australian and New Zealand
Stock Exchanges since 1989 and
1992 respectively.
Investors in mining projects rely to
a great extent on the JORC Code to
provide them with the details they
need to make an informed decision.
The consultant who prepares the
report has the responsibilityofmaking
a fair and impartial assessment of
the mineral deposits present in the
identified area and giving his views
on the extent to which they can be
recovered.
ENERGY, MININ