What is the difference between a mineral resource and reserve?
Mineral Resources can be defined as the concentration of material of economic interest in or on the earth’s crust, whereas Ore Reserves are the parts of a Mineral Resource that can at present be economically mined.
How does a mineral become a mineral reserve?
Mineral Reserves are those parts of Mineral Resources which, after the application of all mining factors, are the basis of an economically viable project after taking account of all relevant processing, metallurgical, economic, marketing, legal, environment, socio-economic and government factors.
What is a reserve in geology?
A resource is that amount of a geologic commodity that exists in both discovered and undiscovered deposits—by definition, then, a “best guess.” Reserves are that subgroup of a resource that have been discovered, have a known size, and can be extracted at a profit.
What are the 3 types of mineral resources?
Minerals in general have been categorized into three classes’ fuel, metallic and non-metallic. Fuel minerals like coal, oil and natural gas have been given prime importance as they account for nearly 87% of the value of mineral production whereas metallic and non-metallic constitutes 6 to 7%.
What are the 5 mineral resources?
Mineral resources can be divided into two major categories – Metallic and Nonmetallic. Metallic resources are things like Gold, Silver, Tin, Copper, Lead, Zinc, Iron, Nickel, Chromium, and Aluminum. Nonmetallic resources are things like sand, gravel, gypsum, halite, Uranium, dimension stone.
What are reserves explain with examples?
The resources which are available and accessible but arent yet being used properly and are conserved and used judiciously for the future are called reserve resources. Examples are river water can be used to generate hydroelectric power but till now their use has been limited.
What does mineral mean?
A mineral is a naturally occurring inorganic solid, with a definite chemical composition, and an ordered atomic arrangement. This may seem a bit of a mouthful, but if you break it down it becomes simpler. Minerals are naturally occurring. They are not made by humans. Minerals are inorganic.
Is gold a mineral?
What is Gold? Native gold is an element and a mineral. It is highly prized by people because of its attractive color, its rarity, resistance to tarnish, and its many special properties – some of which are unique to gold. … Therefore, most gold found in nature is in the form of the native metal.
Is coal a mineral resource?
Coal also contains minerals, which mostly occur as inorganic crystalline and noncrystalline particles or masses. A coal seam may consist of as much as 50 percent minerals. At more than 50 percent mineral matter, the rock would be termed a carbonaceous shale rather than coal.
How does a resources become a reserve?
Answer: The resource become a reserve due to the change in its utility and value. It is because the ultimate use of a mineral reserve is either to be physically worked out or made non-viable because of the changing economic, environmental, technological, and social circumstances.
How is ore reserve calculated?
Computation of Tonnage and Grade of Ore by Blocks
The volume divided by the volume-per-ton factor gives the tons of ore in the block. Multiplying the tonnage in each block by its average assay value, adding the products, and dividing this sum by the sum of the tonnages gives the average assay value of all the blocks.
What is a reserve?
reserve. noun, often attributive. Definition of reserve (Entry 2 of 2) 1 : something reserved or set aside for a particular purpose, use, or reason: such as. a(1) : a military force withheld from action for later decisive use —usually used in plural.
What is Mineral example?
A mineral is an element or chemical compound that is normally crystalline and that has been formed as a result of geological processes. Examples include quartz, feldspar minerals, calcite, sulfur and the clay minerals such as kaolinite and smectite.
What are the major types of mineral deposits?
Mineral deposits include several different types related to magmatic, hydrothermal, sedimentary and metamorphic processes. Generally we can classify mineral deposits into two major groups: Industrial and non industrial. Several classification concepts exist today.