- UNFC-1997 is a system for the classification and reporting of reserves and resources of solid fuels and mineral commodities and provides a standardized, internationally recognized system for the reporting of reserves and resources.
- It has been developed by the UN Economic Commission for Europe.
- It promotes transparency and consistency in the reporting of mineral and energy assets and ensures that geological, engineering, and economic information is used consistently.
- It provides a basis for comparing reserves and resources data between countries and regions which is widely used by governments, industry, and financial institutions around the world.
- According to UNFC-1997, there are four stages of exploration for any mineral deposit:
- Reconnaissance (G4)
- Preliminary exploration (G3)
- General Exploration (G2)
- Detailed Exploration (G1)
In this article we will discuss UNFC-1997