Resources and Reserves

• Why haven't we run out of minerals?

  There are new recycling methods, new extraction methods and new deposits found
• Reserve - All of the mineral that can currently be exploited, with current economics and technology
• Resource - All of the mineral that is theoretically available for exploitation, with future economics and technology
• What is all of the mineral that can currently be exploited, with current economics and technology called?

  a reserve
• What is all of the mineral that is theoretically available for exploitation, with future economics and technology called?

  a resource
• stock - All minerals that exist in the lithosphere. Including the minerals that can be exploited now, will be exploitable in the future and those that can never be exploited.
• Low purity is worth less, whereas high purity would make the most profit
• Lasky's principle - as purity decreases, abundance of ore increases exponentially
• What is the name of the idea that as purity decreases, abundance of ore increases exponentially?

  Lasky's Principle
• The Cut-Off Ore Grade (COOG) is the minimum grade of ore which can be mined at a profit. The COOG decreases over time so lower grades of ores are being mined today than were being mined 10 years ago, and there is an increased abundance.