The Joint Ore Reserves Committee, an independent body responsible for advising the operator of the Australian Securities Exchange, ASX Limited (ASX:ASX) on reporting standards for decades, has said it will co-ordinate its own review on mineral resources reporting guidelines.
The ASX released a consultation paper on Tuesday without the support of the Joint Ore Reserves Committee.
The JORC chairman says he does not accept the ASX’s decision to move away from the current system and believes the proposed reforms are not the best solution.
ASX reported a full year net profit of $352 million to June 30, 2011.
