Abstract

LOCK, N.. RPEEE (Reasonable Prospects for Eventual Economic Extraction): The critical core to the SAMREC Code. J. S. Afr. Inst. Min. Metall. [online]. 2020, vol.120, n.9, pp.497-504. ISSN 2411-9717.  http://dx.doi.org/10.17159/2411-9717/1240/2020.

Reasonable Prospects for Eventual Economic Extraction (RPEEE) is the critical basis for effective implementation of the SAMREC Code as it applies to Mineral Resources, and implicitly to Mineral Reserves that are derived from Mineral Resources. This implementation follows the founding principles of materiality, transparency, and competence. The SAMREC definition of a Mineral Resource specifically includes RPEEE. SAMREC provides guidance for all minerals on what RPEEE means, with some specific additional guidance for diamonds. SAMREC instructs the Competent Person that RPEEE must be demonstrated through reasoned assessment of multiple technical and non-technical parameters, and with disclosure in reporting. A recommended chapter in a CPR includes a sub-section for RPEEE. SAMREC definitions and guidance are presented with discussion of the factors that must be assessed to demonstrate RPEEE. Comparison with guidance in other reporting countries and examples of actual practice are presented.

Keywords : reporting codes; Mineral Resources; definitions; disclosure; SAMREC.

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