Comparative Analysis Of China's Solid Mineral Resources/Reserve Classification Standard And NI43-101 And JORC

China's mining industry will be internationalized in the future.With the expansion of foreign investment in mineral resources,the different management evaluation system of Chinese and Western Resources / reserves has become a barrier to the listing of Chinese mineral enterprises in the international market.The difference in dividing standards has hindered the progress of the internationalization of Chinese mineral enterprises.In this paper,the resources / reserves classification standards of China,NI43-101 and JORC are expounded from the management system of resource reserves,evaluation process,feasibility study,classification standard and comparison of the resources reserves management system,evaluation process,feasibility study,classification standard and so on.The corresponding relationship between three kinds of resource reserves standards is constructed.The corresponding relationship between China and Canada / Australia resources reserves classification is recoverable reserves(111)= Proven Mineral;pre recoverable reserves(111)+ pre recoverable reserves(121)= Probable Mineral;basic reserves(122b)+ base reserves(2M22)+ resources(2S22)+ resources(331)= Measured Mineral Resource,basic reserves(111b)+ base reserves(121b)+ base reserves(2M11)+ base reserves(2M21)+ resources(2S11)+ resources(2S21)+ resources(332)= Indicated Mineral Resource;resources(333)= Inferred Mineral Resource.The final conclusions are as follows:(1)the resources reserves management system of Canada and Australia are government management,industry association organization assessment,stock exchange in accordance with the legal norms to supervise the listing.This system has greatly stimulated market enthusiasm and investment vitality.China is managed,evaluated and archival by the government.It has strong control over domestic minerals and is conducive to macroeconomic regulation and control of the national economy,but lacks market vitality.(2)the "independent qualified person" in Canada and Australia plays a very important role in the assessment of reserves,but the qualification of "independent qualified person" is very strict.China has been recognized by Australia as "independent qualified person" or "professional organization",which has greatly promoted the pace of the internationalization of Chinese mineral enterprises..(3)as for the feasibility study,Canada and Australia have the early stages of development,and the research degree and scope are larger and the economic research is more deep.It is beneficial to attract investment as soon as possible for the development and construction of the mine.Moreover,the outline study can not accurately estimate the economic significance of the mine,and increase the cost and risk in the mine development.But in recent years,China has realized this deficiency,and has gradually pushed forward the feasibility study stage.(4)analysis of the reasons why individuals compare the domestic and foreign standards to the domestic resource reserves data "false high" : the pre recoverable reserves(121)are classified as proved reserves.