A Mineral Inventory Report is a formal technical document, typically prepared or reviewed by a Competent Person (CP) or Qualified Person (QP) as defined under the applicable reporting code, that publicly discloses the mineral resource and reserve estimates for a mining project or operation in a structured and auditable format. These reports are critical instruments for investor communication, regulatory compliance, and corporate governance. In Australia and internationally, Mineral Inventory Reports prepared under the JORC Code are lodged with stock exchanges such as the ASX as part of annual reporting obligations. In Canada, reports under NI 43-101 are filed with securities regulators and include a Technical Report authored by an independent QP. The report must detail the geological setting and deposit type, exploration history and database, geological interpretation and modeling methodology, the estimation technique used (e.g., ordinary kriging, inverse distance weighting), classification criteria, cut-off grade assumptions, modifying factors applied to convert resources to reserves, and a statement of the resource or reserve estimate with associated confidence categories. For iron ore, bauxite, gold, and diamond projects, these reports underpin investment decisions, merger and acquisition valuations, and bank lending assessments. Mineral Inventory Reports must be prepared with rigorous adherence to the relevant code's guidelines, and the Competent or Qualified Person must have sufficient relevant experience in the commodity and deposit type being reported to ensure credibility and defensibility of the stated estimates.
