The ASX Group is examining ways to improve disclosure of reserves and resources by listed mining, oil and gas companies.

The group, which operates the Australian Securities Exchange, on Wednesday released a consultation paper on the public reporting requirements for listed resource companies in response to stakeholder interest in improving standards.

It has called for comments from interested parties, saying the review was aimed at boosting confidence in resources and reserves reporting, reducing the potential for such information to mislead or confuse the market and ensuring it aligns with best practices in other countries.

Greater consistency in the reporting of resources and reserves would allow projects to be compared more easily, ASX Group said.

“The reporting requirements and standards applicable to reserves and resources are integral to company reporting in the mining and oil and gas industries as a large proportion of the material announcements … include reserves and resources information,” ASX Group said.

Under Australia’s resources sector reporting code, JORC, reserves are mineral or hydrocarbon deposits that have been proved-up through drilling and are a higher category than resources.

Key issues for review include disclosure of exploration targets.

ASX Group said it planned to hold several roundtable events and separate meetings with companies to elicit feedback.

Comments are due by January 27.

Combined, Australian listed mining and oil and gas companies have a market capitalisation of $443 billion, representing about 32 per cent of the nation’s total listed equity market capitalisation.