Availability of Minerals

• What categories are used to know wether technology exists to exploit minerals and wether it would be economically viable?


  Stock, Resources and Reserves
• Stock (resource base)


  All the material that exists in the lithosphere

  -> minerals that will and can't be exploited
• Resources


  resource is LARGER than reserves as it included all minerals that theoretically are available for exploitation
• Reserves


  The amount of the resource that can be extracted at a profit using existing technology
• Inferred reserves


  The presents of a mineral can be predicted from knowledge of the area
• Probable reserve


  Sufficient information about the deposit is known, so the amount of the mineral that can be economically extracted can be estimated with sufficient accuracy that further exploration is justified
• Proven reserves


  Sufficient exploration has been carried out, including trial drilling, to accurately estimate the amount of the mineral that can be economically extracted
• Other factors limiting the viability of exploration


  -> absence of the technology to exploit the deposits

  -> the financial cost of exploration may be too great

  -> the environmental impact of exploitation may be unacceptable
• Importance of reserve and resources


  ->assessing the amount and grade of reserves provided information for economic forecast, industrial planning and environmental assessment

  ->the availability of resources, especially non-renewable ones like metals and fossil fuels, can impact national policies and international relationships
• Benefits of exploiting deposits in existing mining regions


  -can use existing infrastructure

  -transport and energy

  -equipment

  -trained workforce
• Control mining activities


  -permitting and licensing, government controls over things such as environmental protection and safety

  -inspections and monitoring, ensuring conditions meet permits and licenses
• Reclamation Bond


  Guarantees the health, safety, and welfare of the public during and after mining operations, and guarantees land will be restored to original condition