International codes of practice offer broad definitions with respect to the classification of resources in terms of risk. Specific guidelines and protocols, to analyse sample data, carry out geostatistical appraisals, develop geological models and finally estimate and classify resources, are not addressed. Neither are detailed requirements for engineering mineable reserves from estimated resources. In addition, international codes of practice fail to distinguish between types of deposit, other than in broad terms, as for example, The AusIMM JORC Code (JORC, 1999) which makes reference to diamond and coal deposits. The objective of this paper is therefore to set in motion the process of specifying detailed protocols, acceptable to the international community, for the assessment, reduction and management of risk associated with the development and extraction of mineral deposits. Ordinarily, the main risks and issues encountered during the process of estimating resources and subsequent conversion to reserves, encompass:failure to understand relevant geological controls of mineralisation;validation of grade interpolation;optimism in geotechnical appraisals of dilution and stability and the consequent selection of inappropriate mining methods;metallurgical modelling of minerals and contaminants reporting to concentrates;appraising the hydraulics of heap leaching and the numerous factors that can affect recovery;difficulty of managing metal price cycles and changes in regulations within the constraints of long-term mining plans; anddevelopment of better evaluation techniques for mining ventures.Uncertainty is inherent in estimation and engineering work, and its identification, reduction and management should be a fundamental goal of all involved in the mining industry (Figure 1). Variability may be reduced by:following internationally accepted practices for the collection, manipulation and analysis of geoscientific data; andverifying that the procedures actually performed meet the associated standards. Increasing amounts of data will also reduce uncertainty, but only if the procedures used to collect and appraise such data follow the relevant procedures. It is thus the aim of a series of papers in preparation, Beniscelli et al (in prep), to put forward detailed guidelines, for:project sponsors - to provide a global view of the work and documentation needed to support requests for funding various phases of project development and budget approvals;geologists - to indicate a checklist of the requirements and standards for the exploration and estimation of resources; andengineers and economic analysists - the protocols for characterising, modelling, engineering and evaluating the extraction of reserves. It is therefore hoped to encourage the development of consistent standards for declaring reserves within the mining industry. Data from projects and operations will be utilised to illustrate the benefits of adopting a rigorous approach to estimating resources and engineering reserves, Beniscelli et al (in prep).