Several of the minerals featured on critical minerals lists published by australia, the European Commission and the United States of america happen to be what the JORC Code regards as Industrial Minerals. Industrial Minerals are those whose variable physical specifications dictate their potential uses and thus their value. With graphite, much of the value lies with its flake size and carbon grade, which helps establish its suitability for different applications, For example, as a refractory (large flake) or battery anode (fine flake) material, with high purity carbon required for optimal performance and lifespan of the anode of lithium-ion batteries. The importance of physical specifications in Industrial Minerals can determine whether a deposit is economically viable or not, hence the requirement to consider these factors, along with other Modifying Factors whilst classifying an Ore Reserve. Given the reliance on an Ore Reserve when determining the economics of a project, the authors of this paper consider that for Industrial Minerals a minimum portion of Ore Reserves must be Proved and as such, defined within the JORC Code. Thus, better informing companies and individuals involved in Industrial Mineral project evaluation. This becomes of greater significance when considering the elevated level of importance that Modifying Factors are anticipated to have in the forthcoming update to the JORC Code. This paper takes the Epanko Graphite Project in Tanzania as a case study, where currently 82 per cent of its total Ore Reserve is classified as Proved, partially dictated by the strong understanding of the metallurgy, physical properties and marketability of the Ore and product, which has been established over the past 12 years. analysis was completed on 19 major, publicly listed graphite deposits, of which 15 had declared an Ore Reserve. Results of which demonstrate significant variation amongst peers. at 82 per cent Proved, Epanko is the only deposit globally with a Proved proportion of Ore Reserve greater than 75 per cent, and one of only two greater than 50 per cent. Of the 15 deposits with Ore Reserves, five contained 0 per cent Proved, and therefore all material classified as Probable, with one of these deposits already in production.