United Nations Framework Classification for Fossil Energy and Mineral Reserves and Resources 2009

Book excerpt: The United Nations Framework Classification for Fossil Energy and Mineral Reserves and Resources 2009 (UNFC-2009) is a universally applicable scheme for classifying/evaluating energy and mineral reserves and resources - it is the successor to UNFC-2004. Designed as an all-encompassing framework, it enables the incorporation and unification of existing national systems, while allowing their classification units and glossary to be retained. The principal objective of UNFC-2009 is to enhance international communication by providing a simple, user-friendly and uniform format for the reporting of energy reserves and resources, using market-based economic criteria. It has been developed to meet, to the extent possible, the needs of applications pertaining to international energy and mineral studies, government resource management functions, corporate business processes and financial reporting standards