How does Competent Person consent work?
A Public Report must not be issued without the Competent Person’s prior written consent to the inclusion in it of the matters based on their information, in the form and context in which they appear. Obtaining that consent is the company’s obligation. Clause 9 of the JORC 2012 Code sets out this requirement and the conditions under which it applies.
- Content updated
- Code edition covered
- JORC 2012
- Core reference
- JORC Code, 2012 Edition (PDF)
- Source checked
Who is responsible for a Public Report?
Clause 9 opens by placing responsibility with the company. A Public Report concerning Exploration Targets, Exploration Results, Mineral Resources or Ore Reserves is the responsibility of the company acting through its Board of Directors. Any such report must be based on, and fairly reflect, the information and supporting documentation prepared by a Competent Person.
The company must disclose the name of the Competent Person, state whether the Competent Person is a full-time employee of the company, identify the Competent Person’s relevant professional membership and, if they are not an employee, name their employer.
What the consent covers
The Introduction to the Code (para. 3) states that for Public Reports of initial or materially changed Exploration Results, Mineral Resources or Ore Reserves, the Public Report or attached statement must say that the Competent Person consents to the inclusion in the Public Report of the matters based on their information in the form and context in which it appears, and must name the Competent Person’s firm or employer. Consent is therefore dual: to the inclusion of matters derived from the Competent Person’s information, and to the form and context in which those matters are presented.
Our reading is that consent is not simply to the technical content in isolation. A Competent Person who consents to a technical appendix is not automatically consenting to promotional language in a covering document that relies on the same estimates — if that language materially changes the form or context in which the Competent Person’s findings appear.
Clause 10 documentation vs Clause 9 consent — two separate acts
Signing the underlying documentation (Clause 10) and consenting to the Public Report (Clause 9) are distinct obligations. Under Clause 10 the Competent Person prepares, or directs preparation of, and signs the technical documentation that the Public Report is based on. Under Clause 9 the Competent Person separately consents to the form and context in which that documentation is presented to the market. Both acts are required; one does not substitute for the other.
Conflict of interest disclosure
Clause 9 requires any potential conflict of interest involving the Competent Person or a related party to be disclosed in accordance with the Transparency principle. Any other relationship between the Competent Person and the company making the report must also be disclosed in the Public Report.
Re-issuing previously reported information
A company does not need to obtain fresh Competent Person consent every time it refers to previously published estimates. Where a company re-issues information that was previously released with the written consent of the Competent Person, Clause 9 allows the company to proceed without obtaining fresh prior written consent, provided all of the following conditions are met:
- The company identifies the original Public Report by name and date and provides a reference to where the original source report can be accessed by the public.
- In the subsequent announcement or presentation itself, the company confirms that it is not aware of any new information or data that materially affects the information in the original market announcement. For estimates of Mineral Resources or Ore Reserves, it confirms in the same document that all material assumptions and technical parameters underpinning those estimates continue to apply and have not materially changed. Appendix 3 of the Code supplies model wording for this confirmation.
- The company confirms that the form and context in which the Competent Person’s findings are presented have not been materially modified. It remains the Board’s responsibility to ensure this.
The “for public access” wording on the first condition refers to a report retrievable by the investing public — whether a particular document meets it is for the company and Competent Person to assess against the full Code text.
The annual reporting exception
The re-issue relaxation described above does not apply to annual reporting of Mineral Resources and Ore Reserves under Clause 15 of the Code. For annual Resource and Reserve reporting, the company must comply with the full Clause 9 consent requirements, including obtaining the Competent Person’s prior written consent. This applies regardless of whether the estimates themselves have changed since the previous annual report.
The Competent Person’s Consent Form
Appendix 2 of the Code records that ASX, together with JORC, have developed a Competent Person’s Consent Form that incorporates the requirements of the Code. Completing this form, or an equivalent, is described as good practice and provides readily available evidence that the required prior written consent was obtained. Appendix 2 also notes that having the consent form witnessed by a peer professional society member is considered leading practice and is strongly encouraged.
Where a Public Report has multiple sections with separate Competent Persons — for example, a separate Competent Person for the Mineral Resource and for the Ore Reserve — the company must obtain each Competent Person’s prior written consent for their own material. The Appendix 2 form accommodates joint signatories, but a separate form per Competent Person may make the scope of each consent and retained record easier to identify.
Both the company and the Competent Person should retain the consent form so that it can be promptly produced if required. The Appendix 2 form is completed on the letterhead of the Competent Person or their employer. Retaining those records can help the company and the Competent Person show what was prepared, reviewed and consented to if the report is later queried.
The drafting and review process conducted in TableOne Flow is recorded in the application’s audit trail. This is not a substitute for the prior written consent required by Clause 9. Appendix 2 provides a model form for recording that consent; an equivalent written record may be used. The consent must be obtained before the Public Report is released.
Compliance statements in the Public Report
The company must obtain prior written consent covering the relevant Public Report. Appendix 2 provides a model form for documenting that consent. Separately, Appendix 3 provides example compliance statements for the disclosure made in, or attached to, the Public Report. The completed consent record and the published statement should be checked against the report actually being released.
Code editions and transition
This page describes the consent framework in the JORC Code, 2012 Edition. Check current JORC, ASX and NZX primary sources for the status of any replacement Code and transition arrangements.
This page is an educational summary of the JORC 2012 Code. It is not legal or professional advice. Refer to the full Code text at JORC Code, 2012 Edition (PDF) and seek professional guidance specific to your situation. Source acknowledgement: Joint Ore Reserves Committee, JORC Code, 2012 Edition.
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