earth science

PERC Reporting Standard

PERC Reporting Standard is a earth science topic covered in the lgStudy science library. This page brings together a partial reference excerpt, illustrations, worked examples, real-world applications and a short study plan, so you can understand PERC Reporting Standard rather than just read about it. In short: The PERC Standard for Reporting of Exploration Results, Mineral Resources and Mineral Reserves (the "PERC Reporting Standard") sets out the minimum standards, as well as additional guidelines and recommendations for the public reporting of exploration results, mineral resources and mineral reserves within Europe. It applies to all solid mineral raw materials for which public reporting of exploration results, mineral…

Key takeaways

PERC Reporting Standard belongs to earth science; place it in that map before memorising details.
Learn the definition first, then one example that makes the definition concrete.
Connect PERC Reporting Standard to a quantity you can measure, compute or draw — that is where exam questions come from.
Reproduce the core statement of PERC Reporting Standard from memory before moving on to harder problems.

Reference excerpt

The PERC Standard for Reporting of Exploration Results, Mineral Resources and Mineral Reserves (the "PERC Reporting Standard") sets out the minimum standards, as well as additional guidelines and recommendations for the public reporting of exploration results, mineral resources and mineral reserves within Europe. It applies to all solid mineral raw materials for which public reporting of exploration results, mineral resources and mineral reserves is required by any relevant regulatory authority. The PERC Reporting Standard is fully aligned with the CRIRSCO International Reporting Template. The CRIRSCO International Reporting Template is a document that represents the best of the CRIRSCO-style codes for the public reporting of exploration results, mineral resources and mineral reserves that are recognised and adopted world-wide for market-related reporting and financial investment. The CRIRSCO Template family of reporting codes and standards is complementary to the United Nations Framework Classification for Resources (UNFC) which was initially developed in 1997 to support the development of mineral inventories by government organisations but has since been expanded to cover a range of other sectors. The CRIRSCO Template has been endorsed by the UNECE's Expert Group on Resource Management as a UNFC Aligned System for use in classifying estimates for minerals projects. Details of the relationship between the two systems are provided in the CRIRSCO Template to UNFC Bridging Document] which was originally published in 2015 and since updated in 2024 to reference the 2019 versions of both systems (UNECE, 2024). Additional guidance for users of the bridging document is provided in an accompanying guidance note ( CRIRSCO and UNECE, 2024).

History During the 1960s, it was realised that minerals reporting was not being undertaken in the best interests of the investors. The Australasian 'Joint Ore Reserves Committee – JORC was formed in 1971 because of concerns about the increase in unacceptable reporting practices (e.g., the Poseidon bubble). The JORC Code was first published in 1989, with the guidelines published in 1990. During the 1990s, it became clear that the evaluation of mineral deposits should be based on an internationally recognised code of reporting to improve the security of investments in this economic sector (e.g., the Bre-X case). In 1994, a global representative body, now the 'Combined Reserves International Reporting Standards Committee' – CRIRSCO, was formed to create a set of standard international definitions for reporting mineral resources and mineral/ore reserves, modelled on the JORC Code. In 1997, the participating countries of CRIRSCO – Australia, Canada, South Africa, USA and the UK reached an agreement on these definitions and presented a document defining the two main categories, Mineral Resources and Mineral Reserves, and their associated subcategories (Measured, Indicated and Inferred Mineral Resources and Proved and Probable Mineral Reserves). In 2001, the first new standard based on these definitions, 'The Reporting Code', was published. It set out minimum standards, recommendations, and guidelines for public reporting of mineral exploration results, mineral resources, and mineral reserves in the United Kingdom, Ireland, and Europe. With the publication of the updated CRIRSCO Template in 2006, it was recognised that an update to 'The Reporting Code' would be needed. A new committee was formed, with a Europe-wide remit: the 'Pan-European Reserves & Resources Reporting Committee' – PERC. The first Pan European Code for Reporting of Exploration Results, Mineral Resources and Reserves ('The PERC Reporting Code') was published in 2008. Since that time, CRIRSCO has continued to introduce improvements and modifications to its reporting template, allowing all CRIRSCO members to use identical wording for key definitions, such as resources and reserves, public reports, competence criteria, and feasibility/pre-feasibility reports. PERC renamed the PERC Reporting Code (2008 edition) to the PERC Reporting Standard with the 2013 revision. A subsequent revision to the PERC Reporting Standard was undertaken in 2017, and a further revision was published in late 2021. A detailed account of the historical development of the PERC Reporting Standard can be found on the PERC website.

Application of the PERC Standard The Standard is applicable to all solid mineral raw materials for which public reporting of exploration results, mineral resources and mineral reserves is required by the relevant regulatory authorities. Solid raw materials include (but are not limited to):

diamonds and other gemstones; metalliferous minerals and industrial minerals; decorative and ornamental stones (dimension stones); cement feed materials and construction raw materials; other mineral raw materials; and, coal. The Standard is binding on the individual members of the Participating Organisations. These rules are subject to national laws and regulations and to laws and regulations of the EU and EFTA member states, the UK and other European countries as and when appropriate.

Public reports and the PERC Standard Companies are encouraged to provide information in their public reports, which is as comprehensive as possible. A company's economic interest in the project must be declared. Previously reported information does not need to be repeated in new reports but the earlier published information must be clearly referred to, and must be available on the company website or in other easily accessible form. The Standard also applies to the following reports if they have been prepared for the purpose of public reporting, or if they include, exploration results, mineral resources estimates, or mineral reserves estimates:

environmental statements; information memoranda; expert reports; and technical papers referring to exploration results, mineral resources or mineral reserves

Reporting terminology Public reports must use the categories shown in the Figure below when reporting on exploration results, mineral resources and mineral reserves:

The exact definitions of key terms like 'Modifying Factors', 'Inferred'-, 'Indicated'- and 'Measured Mineral Resources' as well as 'Probable' or 'Proved Mineral Reserves' are documented in the PERC Reporting Standard.

… excerpt ends here. Continue reading the full article.

Illustrations

Worked examples

Example 1 — a first encounter with PERC Reporting Standard

Start with the simplest possible case. Write down what PERC Reporting Standard claims or describes in one sentence, then invent the smallest concrete situation in which that sentence is true. In earth science, the smallest case is usually a single object, a single equation or a single measurement. Check that every symbol or term in your sentence has a meaning in that case.

Example 2 — changing one variable

Take the situation from Example 1 and change exactly one quantity: double it, halve it, or set it to zero. Predict what should happen to PERC Reporting Standard before you calculate. Comparing your prediction with the result is the fastest way to find out whether you understand the idea or only the words.

Example 3 — an exam-style question

Typical questions about PERC Reporting Standard ask you to (a) state it precisely, (b) apply it to given data, and (c) explain a limitation. Practise writing all three answers in under five minutes; the third part is what separates a full-mark answer from an average one.

Applications of PERC Reporting Standard

In research: PERC Reporting Standard appears in earth science research whenever the underlying quantities have to be modelled precisely. Papers usually cite it as a starting assumption and then explore where it breaks down.
In technology and industry: Engineering practice reuses PERC Reporting Standard in design rules, simulations and safety margins. Knowing the idea lets you read a specification sheet and understand why the numbers look the way they do.
In the classroom: PERC Reporting Standard is common in secondary-school and first-year university syllabi. It links to neighbouring topics Economic geology, Finance, Mineral economics, so understanding it makes those chapters shorter.
In everyday life: Look for PERC Reporting Standard outside the textbook — in sport, cooking, traffic, electronics or the sky above you. An example you found yourself is remembered far longer than one you were given.

Ask Teacher Smith questions about this articleOpens your AI tutor with a question about “PERC Reporting Standard” →

Affiliate

Preply — study more efficiently by working with a personal tutor. 50% off.

How to study PERC Reporting Standard in 20 minutes

Read the reference excerpt below once, without taking notes.
Close the page and write down what PERC Reporting Standard means in your own words.
Compare your version with the excerpt and mark what you missed.
Work through the three examples above with pen and paper.
Explain PERC Reporting Standard out loud to somebody else — or to Teacher Smith in the lgStudy chat.

Frequently asked questions

What is PERC Reporting Standard in simple terms?

Why does PERC Reporting Standard matter?

Because it connects several earth science ideas at once: it gives you a definition you can apply, a quantity you can calculate, and a way to check whether a result is plausible.

How should I study PERC Reporting Standard?

Read the excerpt, restate it from memory, then work through the examples and applications listed on this page. The five-step study plan above takes about twenty minutes.

What does this page cover?

It gives you a compact reference excerpt plus original lgStudy explanations, examples, applications and study material on PERC Reporting Standard.