Resource and reserve reporting
Claims arising from estimates, assumptions or public statements you signed off.
Mining Consultant Professional Indemnity
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Mining Consultant Professional Indemnity
Professional indemnity for mining, geology and resource consultants.
A resource statement or feasibility study moves capital raisings, board decisions and share prices. When an estimate is later restated or a study assumption fails, the loss is measured in project spend rather than consulting fees. Professional indemnity generally responds to claims that technical work or reporting caused a client that loss, and limits are usually set by the size of the decisions the work supports.
What is it?
Mining consultants cover geology, resource estimation, mine planning, geotechnical engineering, metallurgy, ventilation, tailings and environmental approvals. Many act as the competent person signing public reports under the JORC Code, which requires membership of a recognised professional organisation such as AusIMM or the Australian Institute of Geoscientists. Client contracts and ASX-facing work commonly set the limit required.
What does mining consultant professional indemnity cover?
Study and design work
Exposure from scoping, feasibility, geotechnical and mine planning outputs.
Site attendance
Public liability for time spent on operating mine sites, usually arranged alongside.
What affects the cost?
- Disciplines and commodities covered
- Whether you sign as competent person
- Project capital values supported
- Fee income
- Contract limits set by clients
Worth raising on the call
- Competent person sign-off is rated separately from general consulting work.
- Overseas projects need the territory and jurisdiction clauses checked before you quote.
- Long project timelines make run-off cover a real consideration when a consultancy winds up.
Claims we are commonly asked about
Resource restated after infill drilling
A mineral resource signed under the JORC Code is materially downgraded once infill drilling is completed, after the earlier estimate had already supported a capital raising. Claims of this kind are usually brought by the company and can attract shareholder and regulator attention as well.
Recovery assumption that never held
A feasibility study assumes a metallurgical recovery rate the plant does not achieve, and the operation runs below the modelled economics from commissioning. The loss claimed is generally the capital committed on the strength of the study rather than the study fee.
Pit wall designed to the wrong angle
A slope built to a recommended geotechnical angle fails, and the operator faces remediation, lost production and a regulator notification. The data provided, the site conditions and the assumptions stated in the report typically decide where liability lands.
Worth confirming in the wording
- Worth confirming that signing as a competent person under the JORC Code is expressly included in your declared business activities rather than assumed.
- Worth confirming how the policy treats work relied on by investors or reproduced in an ASX release, since that reliance extends well beyond your contracting client.
- Worth confirming the territory and jurisdiction clauses if you work on projects outside Australia, particularly in Africa, Papua New Guinea and South America.
Common questions
What limit do mining clients usually require?
It generally tracks the size of the decisions the work supports rather than your fee. Requirements for competent person and feasibility work are commonly well above what a small consultancy would otherwise carry, and ASX-facing work often attracts the highest. The contract or scope document is the place to check, ideally before you price the job.
Does it cover a resource downgrade?
Only where the claim is that your estimation work, assumptions or reporting fell short of a competent professional standard, not simply because more drilling changed the numbers. Resources are estimates by definition, and revision is expected. How the wording treats public reporting and reliance is the part that decides these matters, subject to the policy terms.
Do I need public liability if I go to site?
Most consultants attending operating mine sites arrange it, and site access agreements commonly require evidence of both public liability and workers compensation before you are inducted. Professional indemnity answers the report, not the injury or the damage on site. The required limits are usually set by the operator's contractor terms.
What does mining consultant professional indemnity cost?
It is rated on the work rather than a standard price. Insurers look at disciplines and commodities covered, whether you sign as competent person, the capital value of the projects your work supports, fee income, contract limits required by clients, and claims history. Competent person sign-off is generally rated separately to general technical consulting.
General information only. Cover, limits and exclusions depend on the PDS, TMD, eligibility, underwriting and the policy terms. See professional indemnity insurance for the wider picture.
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